30th Annual General Meeting 
Date: 26th December, 2020 Day: 
Saturday 
Time: 11.00 AM 
Venue: 806 Meghdoot, 

94, Nehru Place 
New Delhi 110 019 
 

BOARD OF DIRECTORS 
Mr. Pranav Kapur, Chairman 
Mr. Pritam Kapur, Managing Director 
Ms. Chandni Kapur 
Mrs. Mannu Kohli 
Mr. Sunny 
Srivastava 
 

AUDITORS 
Sharma Anand & Co. 
Chartered Accountants 
New Delhi 
 

BANKERS 
RBL Bank Limited 
 

REGISTRARS 
KFin Technologies Private Limited 
Selenium Building, Tower-B, Plot No 31 & 32, 
Financial District, Nanakramguda, Serilingampally, Hyderabad, 
Rangareddi, Telangana India - 500 032. 
 

REGISTERED OFFICE 
806, Meghdoot, 

 

94, Nehru Place, 
New Delhi – 
110019 

 

**CONTENTS 
Page No.**

Notice 
3-15 
Directors Report along with Annexure 
16-41 
Auditors‘ Report 
42-43 
Balance Sheet 
44-50 
Profit & Loss Account 
51-56 
Cash Flow 
57-58 
Notes 
59-62 
Proxy Form 
63 

**NOTICE OF ANNUAL GENERAL MEETING**

 
Notice is hereby given that the 30th Annual General Meeting of the Company will be held on Saturday, 
the 26th day of December, 2020 at 11.00 AM at 806, Meghdoot, 94, Nehru Place, New Delhi-110019 to 
transact the following business: 
 
ORDINARY BUSINESS: 
 
1. To receive, consider and adopt the audited annual balance sheet of the Company as on 31st March, 

2020 together with the reports of the Statutory Auditors, Secretarial Auditors and the Directors 
thereon. 
2. To appoint a director in place of Mr. Pranav Kapur (DIN: 00485910), who retires by rotation and 

being eligible offers himself for re-appointment. 
3. To appoint a director in place of Ms. Mannu Kohli (DIN: 06906151), who retires by rotation and being 

eligible offers herself for re-appointment. 
4. To appoint a director in place of Ms. Chandni Kapur (DIN: 07007247), who retires by rotation and 

being eligible offers herself for re-appointment. 
5. To ratify the appointment of the auditors and fix their remuneration. The retiring auditors of the 

Company, M/s. Sharma Anand & Co., Chartered Accountants, New Delhi are eligible for ratification 
of their re-appointment. 

**SPECIAL BUSINESS:**

 

**6. To appoint Mr. Sunny Srivastava as an Independent Director of the Company:**

To consider and if thought fit to pass, with or without modification(s), the following resolution as an 
Ordinary Resolution: 
 
―RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 and other applicable 
provisions, if any, of the Companies Act, 2013 read with Schedule IV to the Act and the Rules  
framed there under, as amended from time to time, Mr. Sunny Srivastava (having Director 
Identification Number 08737831) who having been appointed as an Additional Director by  the 
Board of Directors in their meeting held on 20/05/2020, retires and being eligible offers himself for 
reappointment, and who has submitted a declaration that he meets the criteria for Independence as 
provided in Section 149(6) read with schedule IV of the Act, be and is hereby appointed as an 
Independent Director, not liable to retire by rotation, for a period of 5 years with effect from 
December  26,2020. 
 

**7. To appoint Mr. Naren Pasrai as an Independent Director of the Company:**

To consider and if thought fit to pass, with or without modification(s), the following resolution as an 
Ordinary Resolution: 
 
―RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 and other applicable 
provisions, if any, of the Companies Act, 2013 read with Schedule IV to the Act and the Rules  
framed there under, as amended from time to time, Mr. Naren Pasrai(having Director Identification 
Number 06731993) on recommendation by the Nomination and Remuneration Committee and who 
has submitted a declaration that he meets the criteria for Independence as provided in Section 149(6) 
read with schedule IV of the Act, be and is hereby appointed as an Independent Director, not liable to 
retire by rotation, for period of 5 years with effect from December 26,2020. 
 

**8. To appoint Mr. Naren Pasrai as an Independent Director of the Company:**

To consider and if thought fit to pass, with or without modification(s), the following resolution as an 
Ordinary Resolution: 

 
―RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 and other applicable 
provisions, if any, of the Companies Act, 2013 read with Schedule IV to the Act and the Rules  
framed there under, as amended from time to time, Mr. Naren Pasrai(having Director Identification 
Number 06731993) on recommendation by the Nomination and Remuneration Committee and who 
has submitted a declaration that he meets the criteria for Independence as provided in Section 149(6) 
read with schedule IV of the Act, be and is hereby appointed as an Independent Director, not liable to 
retire by rotation, for period of 5 years with effect from December 26,2020. 
 
9. To appoint Mr. Banibrata Pandey as a Director of the Company: 

To consider and if thought fit to pass, with or without modification(s), the following resolution as an 
Ordinary Resolution: 
 

―RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions, if 
any, of the Companies Act, 2013 and the Rules framed there under, as amended from time to time, 
Mr. Banibrata Pandey(having Director Identification Number 08466597) on recommendation by the 
Nomination and Remuneration Committee and who has submitted his consent in form DIR-2 to the 
Board of Directors of the Company, be and is here by appointed as Director (Non- Executive/ Non 
Independent) of the Company. 
 

**10. To consider and approved payment of remuneration of Rs. 3,00,000/-p.a.(Rupees Three Lakh) to Mr.**

Banibrata Pandey, Non Executive Director in excess of the limits prescribed under Companies Act, 
2013 and/or Securities and Exchange Board of India (Listing Obligation and Disclosure 
Requirements) Regulations,2015 and this regard, pass the following resolution as Special 
Resolution: 
 

―RESOLVED THAT in accordance with the applicable provision of section 198 read with Schedule 
V of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligation and 
Disclosure Requirements) (Amendment) Regulations 2018, approval be and is hereby accorded for 
payment of remuneration of Rs. 3,00,000/- p.a. (Rupees Three Lakhs) to Mr. Banibrata Pandey 
Director of the Company, details whereof are set out in the Explanatory Statement, being excess of 
remuneration payable by company having inadequate profit.‘‘ 
 
11. To consider and approved payment of remuneration of Rs. 3,00,000/-p.a.(Rupees Three Lakhs) to 

Mr. Pritam Kapur, Managing Director in excess of the limits prescribed under Companies Act, 2013 
and/or Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) 
Regulations,2015 and this regard, pass the following resolution as Special Resolution: 
 

―RESOLVED THAT in accordance with the applicable provision of section 198 read with Schedule 
V of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligation and 
Disclosure Requirements) (Amendment) Regulations 2018, approval be and is hereby accorded for 
payment of remuneration of Rs. 3,00,000/- p.a. (Rupees Three Lakhs) to Mr. Pritam Kapur(DIN: 
00461538) Manaing Director, details whereof are set out in the Explanatory Statement, being excess 
of remuneration payable by company having inadequate profit.‘‘ 
 
 
For HINDUSTAN AGRIGENETICS LIMITED 

PRITAM KAPUR 
Managing Director  
DIN- 00461538 
ADDRESS – C-63, South Ext., Part II, New Delhi - 110049 
 

Place: New Delhi  
Date: 28.11.2020

**NOTES FOR MEMBER’S ATTENTION:**

 

1. 
A MEMBER ENTITLED TO ATTEND AND VOTE MAY APPOINT A PROXY TO ATTEND 
AND TO VOTE INSTEAD OF HIMSELF/HERSELF AND SUCH A PROXY NEED NOT BE A 
MEMBER OF THE COMPANY. 
2. 
PROXY FORMS IN ORDER TO BE EFFECTIVE MUST BE LODGED WITH THE 
COMPANY 48 HOURS BEFORE THE MEETING. 
3. 
A person can act as proxy on behalf of Members not exceeding fifty (50) and holding in the 
aggregate not more than 10% of the total share capital of the Company. In case a proxy is 
proposed to be appointed by a Member holding more than 10% of the total share capital of 
the Company carrying voting rights, then such proxy shall not act as a proxy for any other 
person or shareholder. 
4. 
Corporate Members intending to send their authorized representatives to attend the meeting 
are requested to send a certified copy of Board Resolution authorizing their representative to 
attend and vote at the meeting, on their behalf. 
5. 
The register of Members and Share Transfer Books of the Company will remain closed from 
Friday, 18th December, 2020 till the date of the Annual General Meeting i.e. Saturday, 26th 
December, 2020 (both days inclusive) in connection with the Annual General Meeting. 
6. 
Pursuant to Regulation 17 of the Securities and Exchange Board of India (Listing Obligations 
And Disclosure Requirements) Regulations, the particulars of directors seeking 
appointment/re-appointment at the meeting are annexed. 
7. 
Members are requested to bring their copy of Annual Report to the meeting. 
8. 
Entry in the Meeting Hall shall be strictly restricted to the Members/Valid Proxies only, 
carrying the attendance slips enclosed herewith, duly completed and signed, mentioning 
therein details of their DP ID and Client ID/Folio No. 
9. 
The Ministry of Corporate Affairs, Government of India allowed services of documents by 
electronic mode (email) as a green initiative. Members are requested to register their email 
address with the Company and/or Registrar/Share Transfer Agent for the purpose of service 
of documents under the Companies Act. 
10. 
The Securities and Exchange Board of India (―SEBI‖) has mandated the submission of 
permanent Account Number (PAN) by every participant in securities market. Members 
holding shares in electronic form are therefore, requested to submit the PAN to their 
depository participants with whom they are maintaining their demat accounts. Members 
holding shares in physical form can submit their PAN details to KFin Technologies Private 
Limited. 
11. 
Pursuant to SEBI circular dated 20th April, 2018, shareholders whose ledger folios do not have 
or having incomplete details with regard to PAN and Bank particulars are required to 
compulsorily furnish the details to the RTA/to the company for registration in the folio. 
Further, Members may please be informed that, pursuant to SEBI LODR Amendment 

Regulations, effective 5th December, 2018, requests for effecting transfer of securities in 
physical form shall not be processed unless the securities are held in the dematerialized form 
with a depository. Hence investors are encouraged to demat their physical holding for any 
further transfer. 
 
Pursuant to Section 101 of the Companies Act, 2013, and rules made there under, Electronic 
copy of Notice of 30th Annual General Meeting of the Company inter alia indicating the 
process and manner of e-voting along with Annual Report, Attendance Slip and Proxy Form 
is being sent to all members through electronic mode on their registered email IDs unless any 
member has requested for a hard copy of the same. For the members who have not registered 
their e-mail addresses, physical copies of the Notice of the 30th  Annual General Meeting  of  
the Company inter alia indicating the process and manner of e-voting along with Annual  

Report, Attendance Slip and Proxy Form is being sent in the permitted mode. Physical copies 
of the aforesaid documents will also be available at the Company‘s registered office for 
inspection between 10:00 am to 1:00 pm from Monday to Friday. Even after registering for e- 
communication, members are entitled to receive such communication in physical form, upon 
making a request for the same, by post free of cost. For any Communication, the shareholder 
may also send request to the Company‘s investor email id: hindustanagrigenetics@gmail.com. 
12. 
Non Transferability of Shares in Physical Form: SEBI has recently amended relevant 
provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to 
disallow listed companies from accepting request for transfer of securities which are held in 
physical form, with effect from April 1, 2019. The shareholders, who continue to hold shares 
and other types of securities of listed companies in physical form even after this date, will not 
be able to lodge the shares with company / it‘s RTA for further transfer. They will need to 
convert them to demat form compulsorily if they wish to affect any transfer. Only the requests 
for transmission and transposition of securities in physical form will be accepted by the listed 
companies / their RTAs. 
13. 
Demat Account with NSDL and the assigned ISIN number: All the Share holders who are 
holding shares in physical form may open a demat account and submit request for 
dematerialization of their shares in order to protect the liquidity of the shares. The Company 
has got its Shares admitted with NSDL for providing the Shareholders facility of converting 
the shares from physical mode to demat. The company is also processing its application for 
Revocation of suspension of trading of its shares with BSE. The Company has also received 
the ISIN number INE092301014. However, till the trading approval is received, NSDL has 
allotted a temporary number INE092301015. Members wishing to have their shares demated 
should quote the temporary number as above. Once the revocation process is complete, the 
NSDL will automatically transfer these shares to INE092301014. Members having demat 
account with NSDL may contact their respective depository participants for converting the 
shares from physical mode to demat. The Company has also applied to CDSL for obtaining 
demats facility from them and the application in this regard is pending. Members having 
dematted account with CDSL may wait for further communication by the Company in this 
regard. 
14. 
Voting through electronic means – Remote E-voting: In compliance with the provisions of 
Section 108 of the Act and the Rules framed there under, the Members are provided with a 
facility to cast their vote electronically, through the e-voting services provided by KFin 
Technologies Private Limited, on all resolutions set forth in this Notice and the business set 
forth in this Notice may be transacted through e-voting. 

The procedure to login to e-Voting website is given below: 

 
(i) Open the e-mail and also open PDF file, namely, ―e-Voting.pdf‖ giving your Client ID (in 

case you are holding shares in demat mode) or Folio No. (in case you are holding shares in 
physical mode) as password which contains your ―User ID‖ and ―Password‖ for e-Voting. 
Please note that the password is an initial password. Shareholders, who have not registered 
their e-mail ID with the Company, are being sent the User ID and Password in a separate 
envelope along with this Notice. Any person, who acquires shares of the Company and 
becomes a member of the Company after dispatch of the Notice and holding shares  as of  
the cut-off date, may obtain the login ID and password by sending a request at  
srinivas.b@kfintech.com. However, if you are already registered with RTA for remote e- 
voting then you can use your existing user ID and password for casting your vote. If you 
forget your password, you can reset your password by using ―Forgot User Details / 
Password‖ option available on www.evoting.karvy.com. 
 

(ii) Open the internet browser and type the following URL: https://evoting.karvy.com 
(iii) Click on Shareholder – Login. 
(iv) Put User ID and Password as initial password noted in step (1) above and Click Login. 
(v) Password Change Menu appears. Change the password with new password of your choice 

with minimum 8 digits/characters or combinations thereof. Please take utmost care to keep 
your password confidential. 
(vi) Home page of ―e-voting‖ opens. Click on e-voting > Active Voting Cycles. 
(vii) Select ―Even‖ of (Hindustan Agrigenetics Limited). Now you are ready for e-voting as Cast 

Vote Page opens. 
(viii) Cast your vote by selecting the appropriate option and click on ―Submit‖ and also 

―Confirm‖ when prompted. 
(ix) Upon confirmation, the message ―Vote cast successfully‖ will be displayed. 
(x) Once the vote on a resolution is cast, the member shall not be allowed to vote again or 

change it subsequently. 
(xi) Institutional shareholders (i.e. other than individuals, HUF, NRI, etc.) are required to send 

scanned copy (PDF/JPG format) of the relevant Board Resolution and / or Authority letter, 
etc., together with attested specimen signature of the duly authorized signatory(ies) who 
are authorized to vote, to the Scrutinizer through e-mail to (grguptaassociates@gmail.com), 
with a copy marked to srinivas.b@kfintech.com. 
(xii) The Company is providing to the member facility to cast their vote by electronic means i.e. 

remote e-voting. The remote e-voting period Commences on Monday, 21st September, 2020 
(9.00 a.m. IST) and ends on Thursday, 24th September, 2020 (5.00 p.m. IST). Shareholders of 
the Company holding shares either in physical form or in dematerialized form, as on the 
cut-off-date (Record date), Friday, 18th September, 2020 are eligible to vote. The 
shareholders not casting their vote electronically through remote evoting, shall  be allowed 
to cast their vote at the Annual General Meeting through ballot/poll papers. 
(xiii) In case of any queries, you may refer the Frequently Asked Questions (FAQs) and e- 

voting user manual for Shareholders available at the Downloads section of 
https://evoting.karvy.com/public/Downloads.aspx or call on toll free no.: 1800-3454-001. 
(xiv) If you are already registered with RTA for e-voting then you can use your existing user 

ID and Password/PIN for casting your vote. 

(xv) You can also update your e-mail id and mobile number in the user profile details of the 

folio which may be used for sending future communication(s). 
(xvi) Mr. Govind Ram Gupta, Practicing Company Secretary (Membership No. FCS 8733) has 

been appointed as the Scrutinizer to scrutinize the e-voting process in a fair and transparent 
manner. 
(xvii) The Scrutinizer shall, within a period not exceeding three working days from the 

conclusion of the General Meeting, unblock the votes in presence of atleast two witnesses 
not in the employment of the Company and make a combined Scrutinizer‘s Report of the 
votes cast in favour or against, if any, to the Chairman of the Company. 
(xviii) The Result shall be declared on or after the AGM of the Company. The results declared  

along with Scrutinizer‘s Report shall be placed on the website of RTA 
(xix) www.evoting.karvy.com, immediately after the result is declared by the Chairman and 

also communicated to BSE Limited, where shares of the Company are listed. 

(xx) In case of any grievances connected with the facility for voting by electronic means, the 

members may contact Mr. B. Srinivas, Deputy Manager, KFin Technologies Private Limited 
having address at Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, 
Nanakramguda, Hyderabad – 500 032 Email: srinivas.b@kfintech.com, Tel: +91 040 
67161530. 
 

 

Other Instructions: 

I. 
The facility for voting, through ballot or polling paper shall also be made available at the 
meeting and members attending the meeting who have not already cast their vote by 
remote e-voting shall be able to exercise their right at the meeting; 
II. The members who have cast their vote by remote e-voting may also attend the meeting 

but shall not be entitled to cast their vote again at the Meeting. 
III. A Member can opt for only one mode voting i.e. either through e-voting or by Ballot. If a 

member casts votes by both modes, then voting done through e-voting shall prevail and 
Ballot shall be treated as invalid. 
 
 
 

**For HINDUSTAN AGRIGENETICS LIMITED**

PRITAM KAPUR 
Managing Director 
DIN- 00461538 
C-63, South Ext., Part II, New Delhi - 110049 
 

Place: New Delhi 
Date: 28.11.2020 

EXPLANATORY STATEMENT 
[Pursuant to Section 102 of the Companies Act, 2013] 

 

Item No. 6 
In accordance with the requirements of the Companies Act, 2013 and also SEBI (Listing Obligations and 
Disclosure Requirements) Regulations, 215, the Board of Directors of the Company had, appointed Mr. 
Sunny Srivastava as Independent Director of the Company. As per Section 161 of the Act, they vacate at 
the forthcoming Annual General Meeting. Being eligible, he have offered himself for reappointment. The 
above Independent Director has given a declaration to the Board that he meet the criteria of 
independence as provided under Section 149(6) of the Act. Section 149(10) of the Act provides that an 
Independent Director shall hold office for a term upto five consecutive years and is not liable to retire by 
rotation pursuant to Section 149(13) read with Section 152 of the Act. 
 

In the opinion of the Board, the above Independent Director fulfill the conditions specified in the Act 
and the rules made there under for appointment as Independent Directors and they are independent of  
the management. In compliance with the provisions of Section 149 read with schedule IV and Section 161 
of the Act, the appointment of the above Director as Independent Director is now being placed before the 
members in General meeting for their approval. 
 

Your Board of Directors recommends reappointing the aforesaid Directors at the forthcoming Annual 
General meeting. 
 

None of the directors / key managerial personnel of the company /their relatives have any concern or 
interest, financial or otherwise, in the proposed resolution. 
 

The terms and conditions of appointment of Independent director shall be open for inspection by the 
members at the registered office of the company on all working days except Saturdays , during business 
hours up to the date of the meeting. 
 

Item No. 7 
In accordance with the requirements of the Companies Act, 2013 and also SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 215 and on recommendation by the Nomination and Remuneration Committee, Mr. 
Naren Pasrai as Independent Director has given a declaration to the Board that he meet the criteria of independence 
as provided under Section 149(6) of the Act. Section 149(10) of the Act provides that an Independent Director shall 
hold office for a term up to five consecutive years and is not liable to retire by rotation pursuant to Section 149(13) 
read with Section 152 of the Act. 
 

In the opinion of the Board, the above Independent Director fulfill the conditions specified in the Act and the rules 
made there under for appointment as Independent Directors and they are independent of the management. In 
compliance with the provisions of Section 149 read with schedule IV and Section 161 of the Act, the appointment of 
the above Director as Independent Director is now being placed before the members in General meeting for their 
approval. 
 

Your Board of Directors recommends re-appointing the aforesaid Director at the forthcoming Annual General 
meeting. 
 

None of the directors / key managerial personnel of the company /their relatives have any concern or interest, 
financial or otherwise, in the proposed resolution. 
 

The terms and conditions of appointment of Independent director shall be open for inspection by  the members at 
the registered office of the company on all working days except Saturdays , during business hours upto the date of 
the meeting. 

Item No. 8 and 9 
In accordance with the requirements of the Companies Act, 2013 and also SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 215 and on recommendation by the Nomination and Remuneration Committee, Mr. 
Banibrata Pandey as Director has given a consent to the Board that he is not disqualified and eligible to appoint as 
director of the Company. 
 

The Board of Directors of the Company, on the recommendation of the Nomination and Remuneration Committee 
and taking into account the need for providing advice, guidance and mentorship to the Company‘s management, 
approved the appointment of Mr. Banibrata Pandey as Non-Executive Director of the Company, liable to retire by 
rotation subject to the approval of Shareholders. 
 

Mr. Banibrata Pandey has over 30 years of diversified experience. Considering the enormous diversified experience 
of Mr. Banibrata Pandey, the Board recommends the continuation of Mr. Banibrata Pandey as a Non-Executive 
Director of the Company. Mr. Banibrata Pandey is perfectly suitable person as Non- Independent Director of the 
Company and the remuneration of up to Rs. 300,000/- (Rupees Three Lakhs only) per month is justified. 
 

The remuneration package for Mr. Banibrata Pandey, as determined by the Remuneration Committee of the Board 
and approved by the Board of Directors at the Board Meeting, is forming part of the Resolution under Item 10 of the 
Agenda for this Meeting. The remuneration package is well within the overall limit prescribed under Schedule V to 
the Companies Act, 2013. 
 

Perquisites not included in managerial remuneration: 
A managerial person shall be eligible for the following perquisites which shall not be included in the computation of 
the ceiling on remuneration specified in Section II and Section III:— 
(a) Contribution to provident fund, superannuation fund or annuity fund to the extent these either singly or put 
together are not taxable under the Income-tax Act, 1961 (43 of 1961); 
(b) gratuity payable at a rate not exceeding half a month‘s salary for each completed year of service; and 
(c) encashment of leave at the end of the tenure. 
 

Since, the Company is having inadequate profit, if it proposed to pay remuneration to Mr. Banibrata Pandey it has 
to comply the provision of Part-II of Schedule 5 of the Companies Act, 2013. 
 

None of the directors / key managerial personnel of the company /their relatives have any concern or interest, 
financial or otherwise, in the proposed resolution. 
 

Item No. 10 
Approval for payment of remuneration to Mr. Pritam Kapur, Managing Director 
 

Mr. Pritam Kapur has been looking after all the affairs of the Company. He has been looking after Administration 
and Marketing division. He has over 40 years of experience in Managemnt and various other areas. The Company 
has major future plans for expansion. Mr. Pritam Kapur is perfectly suitable person as Managing Director of the 
Company and the remuneration of upto Rs. 300,000/- (Rupees Three Lakhs only) per month is justified. 
 

The remuneration package for Mr. Pritam Kapur, as determined by the Remuneration Committee of the Board and 
approved by the Board of Directors at the Board Meeting, is forming part of the Resolution under Item 10 of the 
Agenda for this Meeting. The remuneration package is well within the overall limit prescribed under Schedule V to 
the Companies Act, 2013. 
Perquisites not included in managerial remuneration: 
A managerial person shall be eligible for the following perquisites which shall not be included in the computation of 
the ceiling on remuneration specified in Section II and Section III:— 
 
(a) Contribution to provident fund, superannuation fund or annuity fund to the extent these either singly or put 

together are not taxable under the Income-tax Act, 1961 (43 of 1961); 

(b) Gratuity payable at a rate not exceeding half a month‘s salary for each completed year of service; and 
(c) Encashment of leave at the end of the tenure. 
 

Since, the Company is having inadequate profit, if it proposed to pay remuneration to Mr. Pritam Kaput it has to 
comply the provision of Part-II of Schedule 5 of the Companies Act, 2013. 
 

Your directors recommend this resolution for approval. 
 

None of the directors / key managerial personnel of the company /their relatives except the following have any 
concern or interest, financial or otherwise, in the proposed resolution. 
Mr. Pritam Kapur 
Ms. Chandni Kapur 
 

For HINDUSTAN AGRIGENETICS LIMITED 

PRITAM KAPUR 
Managing Director 
DIN- 00461538 
C-63, South Ext., Part II, New Delhi - 110049 
 

Place: New Delhi  
Date: 28.11.2020

Route Map to the AGM Venue 
 

Venue: 806 Meghdoot, 94, Nehru Place, New Delhi-110019 
 
 
 

 
 
 
 
 
 

Distance from Nehru Place Metro Station: 200 meters 

**INFORMATION AS REQUIRED TO BE FURNISHED IN PURSUANCE OF REGULATION-17 OF 
THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND 
DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 WITH STOCK EXCHANGES**

1. Mr. Pranav Kapur, Non-Independent Director/Non-Executive of the Company retires by rotation 

at the forthcoming Annual General Meeting and is eligible for re-appointment. The Brief 
particulars of Mr. Pranav Kapur, proposed to be re-appointed are as given below: 
 

Mr. Pranav Kapur 

Age:  38 years 

**Qualification and Experience:**

Mr. Pranav Kapur aged about 38 years is a Chartered Accountant and has completed his MBA 
from INSEAD, France and his schooling from Doon School, Dehradun. He has helped 
Companies chart their strategies and provided deep insights into valuation and mergers & 
acquisitions. He currently runs a real estate management Company. 
Membership/Chairmanship of Committees: 

Stakeholders Relationship Committee 
: Member and Chairman 
Audit Committee 
: Nil 
Nomination & Remuneration Committee 
: Member and Chairman 
 
Shareholding in the Company: NIL (As on 31st March, 2020) 

2. Ms. Mannu Kohli, Independent Director of the Company retires by rotation at the forthcoming 

Annual General Meeting and is eligible for re-appointment. The Brief particulars of Ms. Mannu 
Kohli, proposed to be re-appointed are as given below: 
 

Ms. Mannu Kohli 

Age:  39 years 

**Qualification and Experience:**

Ms. Mannu Kohli aged about 39 years is highly educated and accomplished. She graduated in 

B.A. Honors from Delhi University, Delhi. Ms Kohli has over 21 years of experience in the Media 
Industry. Starting as a sub-editor of Mid-day, sub-editor of TV news show of Ms Madhu Trehan 
etc. she worked in ‗Music Today‘, a subsidiary of ‗India Today‘ group for 13 years, of which the 
last five years were spent as General Manager. During this period she gained in depth experience 
of business planning, marketing and media management. She is today the Partner of ‗Sound 
Village‘ LLP; a firm which manages various artists and their marketing by way of arranging their 
performances etc. Addition of Ms Kohli will bring her acumen of marketing, management and 
business planning to the firm. 

**Membership/Chairmanship of Committees:**

Stakeholders Relationship Committee 
: Nil 
Audit Committee 
: Member and Chairperson 
Nomination & Remuneration Committee 
: Member 
 
Shareholding in the Company: NIL (As on 31st March, 2020) 

3. Ms. Chandni Kapur, Non-Independent and Executive Director of the Company retire by rotation 

at the forthcoming Annual General Meeting and is eligible for re-appointment. The Brief 
particulars of Ms. Chandni Kapur, proposed to be re-appointed are as given below: 

Ms. Chandni Kapur 

Age:  41 years 

**Qualification and Experience:**

Ms. Chandni Kapur aged about 41 years is an Economic Honors graduate from Jesus and Mary 
College, New Delhi. She has also done course on film editing etc. She has worked as an Episode 
Producer for Across Seven Seas aired on Doordarshan (DD) News, as a producer for On-Air 
Promotions in Aaj Tak etc. She is currently working as a copywriter with Wunderman Thompson, 
one of the leading advertising companies of India and has worked on various leading brands 
such as Lux, Sunsilk, and Kimberly Klark etc. 
 

**Membership/Chairmanship of Committees:**

Stakeholders Relationship Committee 
: Nil 
Share Transfer Committee 
: Nil 
Audit Committee 
: Nil 
Nomination & Remuneration Committee 
: Nil 
 
Shareholding in the Company: 82400 (As on 31st March, 2020) 

4. Mr. Sunny Srivastava, Independent Director (Additional Director) was appointed by the Board on 

20/05/2020. He holds his Directorship up to the date of forthcoming Annual General Meeting and 
is eligible for regularization. The Brief particulars of Mr. Sunny Srivastava, proposed to be re- 
appointed are as given below: 
 

Mr. Sunny Srivastava 

Age:  36 years 

**Qualification and Experience:**

Mr. Sunny Srivastava aged about 36 years is a PGDM from All India Management Association. He 
is currently working with Amway India Enterprises Pvt Ltd as a Senior Executive He has helped 
Companies in execution of their plans. 

**Membership/Chairmanship of Committees:**

Stakeholders Relationship Committee 
:   NIL 
Audit Committee 
:  Member 
Nomination & Remuneration Committee 
:  Member 
 

**Shareholding in the Company:  Nil (As on 31st March, 2020)**

5. Proposal to appoint Mr. Naren Pasrai, as Independent Director by the Nomination and Remuneration 

Committee. The brief particulars of Mr. Naren Pasrai, proposed to be appointed are as given below: 
 

Mr. Naren Pasrai 
Age:  47 years 
 

**Qualification and Experience:**

Mr. Naren Pasrai aged about 47 years is B.COM from Sikkim University. He is currently working with 
SSRF Limited as a Administration Officer. He has helped Companies in execution of their plans. 
 

**Membership/Chairmanship of Committees:**

Stakeholders Relationship Committee 
: NIL 
Audit Committee 
: NIL 
Nomination & Remuneration Committee 
: NIL 
 

**Shareholding in the Company:  Nil (As on 31st March, 2020)**

6. Proposal to appoint Mr. Banibrata Pandey, as Director by the Nomination and Remuneration Committee. 

The brief particulars of Mr. Banibrata Pandey, proposed to be appointed are as given below: 
 

Mr. Banibrata Pandey 
Age:  60 years 
 

**Qualification and Experience:**

Mr. Banibrata Pandey aged about 60 years is a PhD from Sasketchwan University, Canada. He is currently 
working with Petiva Limited as their CEO. He has helped Companies in execution of their plans. 
 

**Membership/Chairmanship of Committees:**

Stakeholders Relationship Committee 
: NIL 
Audit Committee 
: NIL 
Nomination & Remuneration Committee 
: NIL 
 

**Shareholding in the Company:  7400 equity shares (As on 31st March, 2020)**

**DIRECTORS’ REPORT**

Dear Members, 
 
Your Directors have pleasure in presenting 30th the ANNUAL REPORT on the business and 
operations of your Company along with the Audited annual Accounts for the financial year ended on 
31st March, 2020. 
 

**1. FINANCIAL SUMMARY/HIGHLIGHTS**

The Financial of the Company as on 31st March, 2020 is as under:- 

**(Rs Lakhs) 
Current Year 
Previous Year 
As on 31.3.2020 
As on 31.3.2019**

Receipts/Income 
31.95 
18.65 
Profit before Taxes 
(36.51) 
(12.97) 
Less Deferred Tax 
69.18 
01.33 
Profit/ (Loss) after Taxes 
32.68 
(11.64) 
Share Capital 
 

**2. TRANSFER TO RESERVES**

440.02 
440.02 

During the year under review, no amount has been transferred to reserves. 
 

**3. IMPACT OF CORONAVIRUS (COVID-19)**

Corona virus (Covid – 19) outbreak is an unprecedented global situation that the world is dealing with in terms 
of its human and economic consequences. In the last month of FY 2020, it forced governments in several 
countries to enforce lockdowns of all economic activities. For the Company, the focus shifted to ensuring the 
health and well-being of all stakeholders. To the extent possible, Company has tried to negate the impact 
through remote working. 
 

**4. Extension of 30th Annual General Meeting**

The 30th Annual General Meeting of the members of the company in respect of the year ended on 31st March 
2020 was required to be held on or before, 30th September 2020. The company was not in a position to hold its 
Annual General Meeting within the stipulated time period due to spread of Novel Corona virus and 
consequent nationwide lockdown announced by Government of India. 
 
Since the Board was not in position to hold the 30th AGM within due date it made an application to the 
Registrar of Companies, National Capital Territory of Delhi and Haryana on 08.09.2020 and same was 
approved by the Registrar 24.09.2020. The Ministry of Corporate Affairs also gave a similar relaxation to all 
companies in India by its order dated 08.09.2020 by giving a general approval for extension of holding Annual 
General Meeting for the FY ending 31.03.2020 upto 3 months from the due date by which the AGM ought to 
have been held. 

**5. DIVIDEND**

Due to insufficient profits, the Board of Directors of your Company does not recommend the declaration of 
any Dividend. 
 

**6. STATE OF COMPANY’S AFFAIRS**

On annual basis, revenue from operations for the financial year 2019-20 at Rs. 18.73 lakhs was higher over last 
year (Rs. 6.12 lakhs in 2018-19).

 

**7. CHANGE IN THE NATURE OF BUSINESS**

During the year, the Company continues to engage in the business of Hybrid seeds, Tissue culture, 
Floriculture and no significant changes have taken place, during the year, in the nature of business 
carried on by the Company. 
 

**8. MATERIAL EVENTS OCCURRING AFTER BALANCE SHEET DATE**

In the opinion of the Board of Directors, no material changes and/or commitment have taken place, after the 
end of the financial year and till the date of Board‘s present report, which affect the financial position of the 
Company. 

**9. SHARE CAPITAL**

During the year, no changes have taken place in the Share Capital of the Company. 
 

**10. SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES**

The Company does not have any Subsidiary, Joint Venture or an Associate Company. During the year, no 
Company have become or ceased to be a subsidiary, joint venture or associate of the Company. Therefore, the 
provisions relating to performance reports of Subsidiary, Joint Venture or an Associate Company, as required 
under Rule 8(1) of the Companies (Accounts) Rules, 2014, are not applicable to the Company. 
 

**11. ADEQUATE INTERNAL FINANCIAL CONTROL WITH REFERENCE TO FINANCIAL**

STATEMENTS 
Based on the framework of internal financial controls and compliance systems established and maintained by 
the Company, work performed by the internal, statutory and secretarial auditors and external consultants and 
the reviews performed by management and the relevant board committees, including the audit committee, the 
board is of the opinion that the Company‘s internal financial controls were adequate and effective during the 
financial year 2019-20. 
 

**12. ORDER OF AUTHORITY**

As specified in rule 8 (vii) of Companies (Accounts) Rules, 2014, no significant and material orders 
have been passed by any regulators or courts or tribunals etc which have the impact on the going 
concern status and Company‘s operations in future. 
 

**13. INFORMATION UNDER SECTION 197 READ WITH RULE 5 OF COMPANIES**

**(APPOINTMENT 
AND 
REMUNERATION), 
RULES, 
2014 
WITH 
RESPECT 
TO 
REMUNERATION**

** As per Section 197 of the Act read with rule 5(1) of the Companies (Appointment and**

**Remuneration of Managerial Personnel) Rules, 2014 information required are given below:**

**(a) The ratio of the remuneration of each director to the median remuneration of the**

employees of the Company for the financial year: 
 

Non – executive directors 
Ratio to median 
remuneration 
MS. MANNU KOHLI 
NA 

MR. PRANAV KAPUR 
NA 
MR. SUNNY SRIVASTAVA 
NA 

 

**Executive directors 
Ratio to median**

remuneration 
MR. PRITAM KAPUR 
NIL 
MS. CHANDNI KAPUR 
NIL 

**(b) The percentage increase in remuneration of each director, chief executive officer, chief**

**financial officer, company secretary in the financial year:**

**Directors, Chief Executive Officer, Chief Financial Officer 
and Company Secretary**

**% 
increase 
in 
remuneration 
in 
the financial year 
None 
N.A.**

**(c) The percentage increase in the median remuneration of employees in the financial year :**

**NIL 
(d) The number of employees on the rolls of Company : Four 
(e) The explanation on the relationship between average increase in remuneration and**

**company performance : NA 
(f) Comparison of the remuneration of Key Managerial Personnel against the**

**performance of the Company :**

Aggregate remuneration of Key Managerial Personnel 
(KMP) in FY 2019-20 

NIL 

Revenue 
Rs. 31.95 Lakhs 
Remuneration of KMPs (as % of revenue) 
7.5% 
Profit Before Tax (PBT) 
Rs. 32.68 Lakhs 
Remuneration of KMP (as % of PBT) 
7.3% 
(g) Variations in the market capitalisation of the Company, price earnings ratio as at the closing 

**date of the current financial year and previous financial year:**

**Particulars 
March 
31, 
2020**

**March 31, 2019 
% change**

Market Capitalisation 
Rs 440 lacs 
Rs 440 lacs 
Nil 
Price Earnings ratio 
- 
- 
- 
 

**(h) Percentage increase over decrease in the market quotations of the shares of the Company in**

**comparison to the rate at which the Company came out with the last public offer :**

**Particulars 
March 
31, 
2020**

**(Public 
issue 
Price)**

**% change**

**Market Price (BSE) 
Not quoted 
10.00 
NA**

**(i) Average percentile increase already made in the salaries of employees other than the managerial**

**personnel in the last financial year and its comparison with the percentile increase in the 
managerial remuneration and justification thereof and point out  if there are any exceptional 
circumstances for increase in the managerial remuneration: NIL**

**(j) Comparison of each remuneration of the key managerial personnel against the performance of**

the Company: 
 

 
(Pritam Kapur) 
Executive Director 
and 
Managing 
Director 

**(CHANDNI 
KAPUR) 
Chief 
Financial 
Officer**

**(Neha 
Mittal) 
Company 
Secretary**

Remuneration in FY 
2019-20 (Rs Lakhs) 

**NIL 
NA 
NA**

Revenue (Rs Lakhs) 
31.95 Lakhs 

Remuneration as % of 
Revenue 

**NA 
NA 
NA**

Profit before tax (PBT) 
(Rs Lakhs) 

-36.51 Lakhs 

Remuneration as % of 
PBT 

**NA 
NA 
NA**

**(k) The key parameters for any variable component of remuneration availed by the**

directors: 
None. 
 

**(l) The ratio of the remuneration of the highest paid director to  that of  the  employees who are not**

directors but receive remuneration in excess of the highest paid director during the year: 
None. 
 

**(m) Affirmation that the remuneration is as per the remuneration policy of the Company: The**

Company affirms that the remuneration is as per the remuneration policy of the Company. 
 

** The statement containing particulars of employees as required under Section 197(12)  of the Act**

**read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) 
Rules, 2014:**

No person, employed throughout the financial year, was in receipt of remuneration for that year of 
Rs. 60,00,000/- or more, nor was any of them, employed for a part of the financial year, was in 
receipt of remuneration of Rs. 5,00,000/- or more  per  month during any part of the year under 
consideration. Thus, the provisions of Rule 5(2) of Companies (Appointment and Remuneration) 
Rules, 2014 are not applicable. 
 

14. 
DIRECTORS 
a. Change in the Directors/ Key Managerial Person 
 

During the financial year under review, Ms. Mannu Kohli stepped down as CFO and thereafter Ms. 
Chandni Kapur was appointed as CFO. There were no other change occurred in the composition of the 
Board of Directors/Key Managerial Person. 

 
In pursuance of the provisions of Section 152 of the Act, Mr. Pranav Kapur, Ms. Mannu Kohli and 
Ms. Chandni Kapur, retires at the forthcoming Annual General Meeting and being eligible offer 
themselves for reappointment. 

The Board of Directors recommends for the reappointment of the aforesaid Directors at the 
forthcoming Annual General Meeting. 
 

The present Composition of the Board of Directors and Key Managerial Personnel is as follows: 
 

Mr. Pranav Kapur, Chairman 
Mr. Pritam Kapur, Managing Director 
Ms. Chandni Kapur, Director and Chief Financial Officer Ms. 
Mannu Kohli, Director 
Ms. Neha Mittal, Company Secretary & Compliance Officer 
 

**b. Declaration of Independence**

As per the Section 149(7) of the Act, the Board of Directors have received a Declaration of 
Independence from each of the Independent Director(s) to the effect that he/she meets the criteria 
of independence as provided in Section 149(6). 
 

**c. Formal Annual Evaluation**

The Board of Directors has carried out an annual evaluation of its own performance, Board 
committees and individual directors pursuant to the provisions of the Act and the  corporate 
governance requirements as prescribed by Securities and Exchange Board of India (―SEBI‖) under 
Regulation 17 of the Securities And Exchange Board Of India (Listing Obligations And Disclosure 
Requirements) Regulations, 2015 (―Regulation 17‖). The performance of the Board was evaluated by 
the Board after seeking inputs from all the directors on the basis of the criteria such as the Board 
composition and structure, effectiveness of board processes, information and functioning, etc. 
The performance of the committees was evaluated by the board after seeking inputs from the 
committee members on the basis of the criteria such as the composition of committees, effectiveness of 
committee meetings, etc. The Board and the Nomination and  Remuneration Committee (―NRC‖) 
reviewed the performance of  the  individual  directors on the basis of the criteria such as 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, etc. In 
addition, the Chairman was also evaluated on the key aspects of his role. 
 

In a separate meeting of independent Directors, performance of non-independent directors, 
performance of the board as a whole and performance of the Chairman 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. 
 

**15. COMMITTEES OF THE BOARD AND VIGIL MECHANISM**

The details pertaining to composition of Various Committees as prescribed in the Companies Act, 
2013 are included in the Corporate Governance Report which forms part of this report. 
Vigil Mechanism 
 

The Company has not borrowed money from banks & financial institutions in excess of Rs. 50 
Crores. Therefore, the Company is not required to establish a Vigil Mechanism in pursuance of 
Section 177(9) of the Act. 
 

**16. NUMBER OF BOARD AND COMMITTEE MEETINGS**

During the year under review, seven meetings of the Board of Directors of the Company were held. 
For details on the Board and Committee meetings, please refer to the Corporate Governance report, 
which forms part of this report.

 

**17. STATUTORY AUDITORS**

As per Section 139(1) of the Companies Act, 2013, a Company is required to appoint an auditor at 
the Annual General Meeting. The Shareholders in the 27th Annual General Meeting held on 
29.09.2017 had appointed M/s Sharma Anand & Co., Chartered Accountants as the Statutory 
Auditors for a period of five years, subject to ratification at each Annual General Meeting. 
 

In pursuance thereof, the appointment of the Statutory Auditors of the Company M/s Sharma 
Anand & Co., Chartered Accountants, are proposed to be ratified at the forthcoming Annual 
General Meeting. The Company has received a certificate from the Statutory Auditors in this regard. 
The Board of Directors recommends their ratification. 
 

**18. AUDITORS’ REPORT AND ITS EXPLANATION**

The comments made by the Auditors in their report have been duly explained in the 
attached Notes to Accounts and do not require any further explanation. 
 

**19. SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT**

As per the provisions of Section 204 of the Act, the Board of Directors of the Company appointed 
M/s. G.R Gupta & Associates, Company Secretaries to conduct the Secretarial audit of the 
Company for the year 2019-20. 
M/s. G.R Gupta & Associates, Company Secretaries conducted the Secretarial Audit and have 
submitted their Report to the Board of Directors, which is annexed to and forms part and parcel of 
this report. The comments made by the Auditors in their report are self explanatory and do not 
require any further explanation. 
 

The Board of Directors have re-appointed M/s G.R Gupta & Associates, Company Secretaries to 
conduct the secretarial audit for the year 2020-21. 
 

**20. INTERNAL AUDITOR**

As per the requirements of Section 138 of the Companies Act, 2013 a listed Company is required to 
get an internal audit conducted. In pursuance of Section 138 of the Act, M/s Hukam Vijay & 
Company, Chartered Accountants, practicing at 304 Rohini Complex, WA 121, Shakarpur, Delhi 110 
092 have been appointed to conduct the Internal audit for the financial year 2020-21. 
 
21. INTER- CORPORATE LOANS, GUARANTEE S AND INVESTMENTS 

There were no outstanding loans or investments or guarantees covered under the provisions of 
Section 186 of the Act. 
 

**22. RELATED PARTY TRANSACTIONS**

During the year under review, the Company has not entered into any contract or arrangement with any Related 
Party. Therefore, the provisions of Section 134(3)(h) read with Rule 8 of the Companies (Accounts) Rules, 2014 
requiring justification entering into such contract and arrangement and other details in specified form AOC-2 
are not applicable. 
 
23. PUBLIC DEPOSITS 

The Company has neither invited or accepted any Public Deposits as per the provisions of the 
Companies Act, 2013 during the financial year under review neither any such deposits are unpaid or 
unclaimed during the year. Therefore, the provisions of Rule 8(v) and 8(vi) of the Companies 
(Accounts) Rules, 2014 are not applicable. 

 
 

**24. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN**

**EXCHANGE**

The information and details as per the provisions of Rule 8(3) of the Companies (Accounts) Rules, 
2014 are as follows: 
 

CONSERVATION OF ENERGY 

During the year under review adequate energy conservation measures have been put in place. The 
officers of the Company are made aware, from time to time, the various methods to conserve energy 
including the utilizing the alternate sources of energy. No capital investment on energy 
conversation equipments was made by the Company during the year under review. 
 

TECHNOLOGY ABSORPTION 

The Company, is not engaged into the technology dependent  business  activities.  However, 
wherever possible, continuous efforts and effective improvements were made during the year for 
technology absorption in respect of the business being carried on by  the Company. 
 

The Company has not imported any technology during the last three years and no expenditure has 
been incurred on Research & Development. 
 

FOREIGN EXCHANGE EARNINGS AND OUTGO: 

Foreign exchange spent 
: NIL 

Foreign exchange earned 
: NIL 

**25. CORPORATE SOCIAL RESPONSIBILITY**

During the year under review, the Company has been outside the purview of Corporate Social Responsibility 
because company is suffering loss in year 2019-20. 
 

**26. MANAGEMENT DISCUSSION AND ANALYSIS**

The Company continues to comply with the various listing requirements of the Stock Exchanges 
and has taken steps for applying to the Bombay Stock Exchange for revocation of its suspension. 
 

The operations of the company remain suspended. However, the company is investigating other 
avenues for its revival. 
 

The management Discussion and Analysis Report for the year under review as stipulated under 
regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 with the Stock exchange is presented in a separate section forming 
part of the annual report. 
 

**27. REPORT ON CORPORATE GOVERNANCE**

As per the applicable SEBI Regulations and Circulars, the Company is not required, at present, to 
comply with the Corporate Governance provisions. 
 
28. COMPLIANCE OF ACCOUNTING STANDARDS 

As per requirements of the Securities and Exchange Board of India (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 with Stock Exchange and Accounting Standards of The Institute of

Chartered Accountants of India, your company has made proper disclosures in financial statements in 
respect of Consolidated Financial Statements, Related Party Transactions and Deferred Taxation. The 
Company has duly adopted all the applicable Accounting Standards in pursuance to the provisions 
of the Companies Act. 
 

**29. FILING OF CASE IN RESPECT OF COMPENSATION FOR ACQUISITION OF GREEN**

HOUSE BY THE OUTER RING ROAD AUTHORITY 
The land of the company situated at Dundgal, Hyderabad had been acquired by the Government. 
However, the compensation received from the Government in respect to such land was not fair and 
adequate. The Board of Directors have filed a suit against the Outer Ring Road Authorities of the 
Government of erstwhile Andhra Pradesh at  the  Ranga Reddy Courts for improving the 
compensation given to the company for the losses suffered on account of the cost of imported green 
house standing on the land acquired for the construction of the ring road. 
 

**30. DIRECTORS’ RESPONSIBILITY STATAEMENT:**

Pursuant to the provisions of Section 134(3)(c) of the Companies Act, 2013 the Directors‘ 
Responsibility Statement forms part of the Directors‘ Report. Your Directors give hereunder the 
Statement relating to the Accounts of the Company that: 
 

1) All the applicable Accounting Standards have been followed in the preparation of the 

accompanying annual Accounts along with proper explanation relating to material departures. 
2) The Directors have selected such Accounting Policies and applied them  consistently  and made 

judgments and estimates that are reasonable and prudent so as to give true and fair view of the 
state of affairs of the Company at the end of the financial year 31st March, 2020 and of the Profit 
or Loss of the Company for the said period; 

3) The Directors have taken 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; and 
4) The Directors have prepared the Annual Accounts on a going concern basis. 
5) The Directors have laid down internal financial Controls to be followed by the Company and that 

such internal financial controls are adequate and are operating effectively. 
6) The Directors have devised proper system to ensure compliance with the provisions of all 

applicable laws and that system were adequate and operating effectively. 
 

**31. 
ACKNOWLEDGEMENT**

Your Directors place on record their sincere thanks to all concerned agencies for their continued 
co-operation extended to the Company. 
 
On behalf of the Board of Directors 
 

For HINDUSTAN AGRIGENETICS LIMITED 
 

PRITAM KAPUR 
PRANAV KAPUR 
CHANDNI KAPUR 
NEHA MITTAL 
Managing Director 
Chairman 
Director & CFO 
Company Secretary 

DIN- 00461538 
DIN: 00485910 
DIN: 07007247 
ACS-A74177 
 

Place: New Delhi 
Date: 28.11.2020

**FORM NO. MR-3 
SECRETARIAL AUDIT REPORT**

**FOR THE FINANCIAL YEAR ENDED ON 31st March, 2020**

[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and 

Remuneration of Managerial Personnel) Rules, 2014] 

 
 

To, 

The Members, 

**Hindustan Agrigenetics Limited**

Regd. Off.: 806, Meghdoot, 

94, Nehru Place, 

New Delhi- 110019 
 

We were appointed by the Board of Directors of M/s Hindustan Agrigenetics Limited to conduct the 

Secretarial Audit of the Company for the financial year ended on 31th March, 2020. 

We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the 

adherence to good corporate practices by M/s Hindustan Agrigenetics Limited (hereinafter called ―the 

Company‖). The Secretarial Audit was conducted in a manner that provided us a reasonable basis for 

evaluating the corporate conducts/statutory compliances and expressing our opinion thereon. 

Based on our verification of Hindustan Agrigenetics Limited‘s books, papers, minute books, forms and 

returns filed and other records maintained by the Company and also the information provided by the 

Company, its officers, agents and authorized representatives during the conduct of  Secretarial Audit,  we 

hereby report that  in  our  opinion and subject to our  observations mentioned later in this report,  the 

Company has, during the audit period covering the financial year ended on 31st March, 2020  complied 

with the statutory provisions listed hereunder and also that the Company has proper Board processes and 

compliance-mechanism in place, to the extent, in the manner and subject to the reporting made 

hereinafter: 

We have examined the books, papers, minute books, forms and returns filed and other records 

maintained by M/s Hindustan Agrigenetics Limited for the financial year ended on 31st March, 2020 
according to the provisions of: 

(i) 
The Companies Act, 2013 (the Act) and the rules made there under; 

(ii) 
The Securities Contracts (Regulation) Act, 1956 (‗SCRA‘) and the rules made there under; 

(iii) 
The Depositories Act, 1996 and the Regulations and Bye-laws framed there under; 

(iv) 
Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the 

extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial 

Borrowings – Not Applicable as the Company did not have any foreign investments during the 

**financial year under review.**

(v) 
The following Regulations and Guidelines prescribed under the Securities and Exchange Board 

of India Act, 1992 (‗SEBI Act‘) :- 

(a) 
The Securities and Exchange Board of India (Substantial Acquisition of Shares and 
Takeovers) Regulations, 2011; 
(b) 
The Securities and Exchange Board of India (Prohibition  of  Insider  Trading)  
Regulations, 1992; 
(c) 
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) 
Regulations, 2009 – Not Applicable as the Company did not issue any security during 
the financial year under review. 
(d) 
The Securities and Exchange Board of India (Employee Stock Option Scheme and 
Employee Stock Purchase Scheme) Guidelines, 1999 - Not Applicable as the  Company  
has not granted any options to its employees during the financial year under review. 
(e) 
The Securities and Exchange Board of India (Issue and Listing of Debt Securities) 
Regulations, 2008 - Not Applicable as the Company has not issued any debt security 
during the financial year under review. 
(f) 
The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer 
Agents) Regulations, 1993 regarding the Companies Act and dealing with client - Not 
Applicable as the Company is not registered as Registrar to an Issue and Share Transfer 
Agent during the financial year under review. 
(g) 
The Securities and Exchange Board of India (Delisting of Equity Shares)  Regulations,  
2009 - Not Applicable as the Company has not delisted its equity shares  from  any 
stock exchange during the financial year under review. 
(h) 
The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998- Not 
Applicable as the Company has not bought back any of its securities during the 
financial year under review. 

(vi) 
Other laws as applicable – The Company has been non-operative during the financial year. 

 
We have also examined compliance with the applicable clauses of the following: 
 

(a) Secretarial Standards issued by The Institute of Company Secretaries of India with respect to 

Board and General Meetings 

(b) The Listing Agreement entered into by the Company with BSE Limited and the SEBI (Listing 

Obligations and Disclosure Requirements) Regulations, 2015. 

During the period under review the Company has generally complied with the provisions of the Act, 

Rules, Regulations, Guidelines, Standards, etc. mentioned above subject to the following observations: 

1. 
Trading in Shares of the Company has been suspended by the BSE due to non-compliance of 

various provisions of the Listing Agreement. As per the information provided, the Company 

has made an application to BSE for revocation of suspension. 

2. 
The Company has not published newspaper notices/results etc. as required under the Listing 

Agreement including but not limited to quarterly/annual Financial Results, notices of Board 

Meetings, Book closure notices etc. 

3. 
The Company has not paid the Listing Fees to the stock exchanges. As per the information 

provided, the same has been paid after the close of the year under review. 

4. 
It has not made disclosures under the Securities and Exchange Board of India (Substantial 

Acquisition of Shares and Takeovers) Regulations, 2011 and the Securities and  Exchange 

Board of India (Prohibition of Insider Trading) Regulations, 1992. 

**We further report that:**

(a) 
The Board of Directors of the Company is duly constituted with proper balance of Executive 
Directors, Non-Executive Directors and Independent Directors. The composition of the Board 
of Directors, however, does not have at least half of the Directors being the independent 
directors, as required. The changes in the composition of the Board of Directors that took 
place during the period under review were carried out in compliance with the provisions of 
the Act. 
(b) 
Adequate notice of at least seven days is generally given to all directors to schedule the Board 

Meetings. Agenda and detailed notes on agenda were sent at least three days in advance and 

an informal system exists for seeking and obtaining further information and clarifications on 

the agenda items before the meeting and for meaningful participation at the meeting. 

(c) 
Majority decision is carried through while the dissenting members‘ views are captured  and 

recorded as part of the minutes. 

We further report that there are adequate systems and processes in the Company 
commensurate with the size and operations of the Company to monitor and ensure compliance 
with applicable laws, rules, regulations and guidelines. 
 

We further report that during the audit period no specific event/actions took place having a 
major bearing on the company‘s affairs in pursuance of the above referred laws, rules, 
regulations, guidelines, standards, etc. 
 
 

For G.R. Gupta & Associates 

Company Secretaries 

Place: New Delhi 
 
 
 
 
 
Govind Ram Gupta, Prop. 
Date: 24.10.2020 
 
 
 
 
 
FSC No: 8733 
 
 
 
 
 
 
 
 
CP No: 8554 
 
 
 
 
 
 
 
 
             UDIN No: F008733B001054129 
 
 
 
 
 
 
 
 
 

This report is to be read along with our letter of even date which is annexed as Annexure A and forms 

an integral part of this report.

Annexure A 
To, 

The Members 

Hindustan Agrigenetics Limited 

Regd. Off.: 806, Meghdoot, 

94, Nehru Place, 

New Delhi- 110019 
 
 

Our report of even date is to be read along with this letter. 

1. 
Maintenance of secretarial records is the responsibility of the management of the Company. 

Our responsibility is to express an opinion on these secretarial records based on our audit. 

2. 
We have followed the audit practices and processes  as  were  appropriate  to  obtain 

reasonable assurance about the correctness of the contents of the Secretarial records. The 

verification was done on test basis to ensure that correct facts are reflected in secretarial 

records. We believe that the processes and  practices,  we  followed  provide  a  reasonable  

basis for our opinion. 

3. 
We have not verified the correctness and appropriateness of financial records and Books of 

Accounts of the Company. 

4. 
Wherever required, we have obtained the Management representation about the compliance 

of laws, rules and regulations and happening of events etc. 

5. 
The compliance of the provisions of Corporate and other applicable laws, rules, regulations, 

standards is the responsibility of management. Our examination was limited to the verification 

of procedures on test basis. 

6. 
The Secretarial Audit report is neither an assurance as to the future viability of the Company 

nor of the efficacy or effectiveness with which the management has conducted the affairs of 

the Company. 

 

For G. R. Gupta & Associates 

Company Secretaries 

 

Place: New Delhi 
Govind Ram Gupta, Prop. 

Date: 24.10.20 
FCS No: 8733 

CP No: 8554 

**UDIN: F008733B001054129**

**Annexure-I to the Director’s Report-**

**Management Discussion and Analysis**

**a. Macro Economic Overview**

During the year under review, inflation continued to be an area of concern and the real 
earnings of the farmers and other rural population continued to be under pressure. This 
resulted in their having to cut back on their expenses, particularly the input expenses for 
their agriculture. 

**b. Industry Structure and Developments**

The seed business of the country continues to be very competitive. However, many 
industry leaders who were major producers of GM seeds are facing pressure as the pests 
seem to have developed resistance to the bt genes transferred in the seeds. Further, due 
to a drop in the prices of cotton, the farmers are going slow on sowings of cotton and  
overall area of cotton is expected to reduce. The government has expressed its concern  
to the seed industry to ensure quality of seeds in the wake of news of suicides by 
farmers. 

**c. 
Opportunities and Threats**

The entry barriers to the seed business have become high as the market is now 
dominated by propriety brands of seeds and technology of public bred seeds is unable 
to compete. Development of genetically modified seeds continues to face opposition 
from the environmental groups and several scientists as well. On the other hand, with 
competition intensifying there may be new opportunities in the business of providing 
services such as extension services to large players. 

**d. Business opportunities under examination**

In view of the high technology barriers for entry in seed industry, your company has 
been examining other opportunities in the agriculture space. A possible area under 
examination is trading of seeds on the internet by using warehouse receipts as trading 
note. Other business opportunities are also under examination. 
e. Resources and liquidity 
 

The company has invested its liquid resources mostly in debt based Mutual Funds with  
a view to use the income so earned to meet the day to day expenses of the company. In 
addition, to keep the R&D farms in good order, the land is being used for production of 
seeds and selling them in the nearby market. 

**f. 
Risks and concerns**

The main risk of seed business continues to be the dependence of business on monsoon. 
Lack or excess of rainfall has the effect of changing the sowing pattern and crops sown 
with an immediate impact on seed demand. This can result in shortages or in carry over, 
both of which have an impact on the business. 

**g. Internal Control Systems and Adequacy**

The Company has adequate internal control procedures commensurate with its size and 
nature of the business. These business control procedures ensure deficient use and 
protection of the resources and compliance with the policies, procedures and statutes. 

**h. Human Resources**

The company currently has no employees and the executive director of the Company is 
looking after the various statutory and other requirements as also looking at the 
possibilities of starting the business once again. However in view of reverses suffered in 
the past it is proposed to be cautious in undertaking any new venture. 
 

**i. 
Future outlook**

As mentioned earlier, the business is quite dependant on monsoon and its progress. At 
the time of writing this review, there are reports that so far the monsoon has been 
normal in most parts of the country. However, the metreological department has issued 
bulletins expressing concern over strengthening of El-Nino effect which may adversely 
affect the monsoon in the second half. 
 

On behalf of the Board of Directors 
 

For HINDUSTAN AGRIGENETICS LIMITED 
 
 
 

PRITAM KAPUR 
PRANAV KAPUR 
CHANDNI KAPUR 
NEHA MITTAL 
Managing Director 
Chairman 
Director & CFO 
Company Secretary 

DIN- 00461538 
DIN: 00485910 
DIN: 07007247 
ACS-A27477 
 
 
 
 

Place: New Delhi 
Date: 28.11.2020 

**Annexure-II to the Director’s report**

**REPORT ON CORPORATE GOVERNANCE**

 

Your Company has always believed in the principle of good Corporate Governance with a view to 
enhance stakeholder value, improved growth, achievement of goals etc. and therefore it has committed 
itself to attain highest levels of transparency. For this purpose certain measures have been adopted in 
line with the provisions of listing agreement. 
 

**1. 
BOARD OF DIRECTORS**

The Composition of the Board during the year 31.03.2020 is follows: 

Director 
Number 
Non Executive 
2 
Executive 
2 
Total 
4 
 

The constitution of the Board is as given below: 
 

Director 
ED/NE/IND 
No. of 
Outside 
Directorship 

No. of 
Board 
Meeting 
attended 

Whether 
attended 
last AGM 

No. of Committee 

Memberships 

Member 
Chairman 

MR. PRITAM 
KAPUR 

ED 
NIL 
7 
Y 
2 
NIL 

MR. PRANAV 
KAPUR 

NE 
28 
7 
Y 
3 
1 

MS. 
CHANDNI 
KAPUR 

ED 
NIL 
7 
Y 
NIL 
NIL 

MS. MANNU 
KOHLI 

NE & IND 
NIL 
7 
N 
3 
NIL 

 

**Notes:**

i) 
NE – Non Executive 
ii) 
IND – Independent 
iii) 
ED – Executive Director 
iv) 
While calculating number of outside directorships, directorships held in foreign 
companies, private companies and alternate directorships are excluded. 

 

2. 
COMMITTEES 
i) 
Audit Committee 
 

During the year ended March 31, 2020, four meetings of the Audit Committee were  held. 
The said meetings were held on 25th May, 2019, 14h August, 2019, 13th November 2019 and 
14th February, 2020. 
The constitution of the Audit Committee as given below: 

1. Mr.  Pranav Kapur 
: Member and Chairman 
2. M s. Mannu Kohli 
: Member 
3. Mr. Pritam Kapur 
: Member 

Terms of reference of the Audit Committee are as per section 177 of the Companies Act, 2013 
and Regulation 17 of the Securities and Exchange Board of India (Listing Obligations And 
Disclosure Requirements) Regulations, 2015 of the Stock Exchange. 
 

ii) Stakeholders Relationship Committee 
 

As per the provisions of the Companies Act, the Board has formed a Stakeholders 
Relationship Committee‘ in place of ‗Investor Grievance Committee which shall consider 
and resolve the grievances of security holders of the Company. 
During the year ended on 31st March, 2020 One Meeting held on 14.02.2020. 
 

The following are the members of the committee:- 

1. 
Mr.  Pranav Kapur 
: Member and Chairman 
2. 
Mr. Pritam Kapur 
: Member 
 

There have been no complaints that have not been resolved to the satisfaction of the shareholders. 

iii) Nomination and Remuneration Committee 
During the year ended on 31st March, 2020 One Meeting held on 14.08.2019 

The following are the members of the committee: 

1. 
Mr.  Pranav Kapur 
: 
Member and Chairman 
2. 
Ms. Mannu Kohli 
: 
Member 
3. 
Mr. Pritam Kapur 
Member 
 

The responsibilities of the Committee shall be :- 

1.  Identify persons who are qualified to become directors and who may be appointed in 

senior management in accordance with the criteria laid down, recommended to the 
Board their appointment and removal and shall carry out evaluation of every director‘s 
performance. 
2.  Formulate the criteria for determining qualifications, positive attributes and 

independence of directors and recommend to the board a policy, relating to the 
remuneration for the directors, key managerial personnel and other employees. 
 

3. 
REMUNERATION OF DIRECTORS 
Details of remuneration paid to Directors are given below: 
 

Directors 
Loans 
and 
Advances 
from 
the 
Company 

Remuneration paid during 2019-20 

(Rs.) 
Sitting Fee 
Salary 
Comm. 
Total 

MR. PRITAM KAPUR 
--- 
Nil 
Nil 
Nil 
Nil 
MR. PRANAV KAPUR 
--- 
Nil 
Nil 
Nil 
Nil 
MS. MANNU KOHLI 
--- 
Nil 
Nil 
Nil 
Nil 
MS. CHANDNI KAPUR 
---- 
Nil 
Nil 
Nil 
Nil 

 

**4. 
BOARD MEETINGS & ATTENDANCE AT BOARD MEETINGS & ANNUAL GENERAL 
MEETING**

The Board of the company met Seven times during the year 2019-20. The said meetings were 
held on 27/04/2019, 30/05/2019, 14/08/2019, 02/09/2019, 24/09/2019, 13/11/2019 and 
14/02/2020. 

The company placed before the Board the performance of Company, minutes of the meetings of 
various committees of the Board from time to time. Information regarding material 
developments in external environment is also placed before the Board as and when the same 
takes place. Two directors were present at the last Annual General Meeting. 
 

**5. 
MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT**

The Management discussion and Analysis report for the year ended March 31, 2020 is published 
separately in this Annual Report. 
 

**6. 
DISCLOSURES**

a) 
No transaction of material nature is entered into by the Company with Promoters, 
Directors or Management, or their relatives etc., except for transaction of  a  routine 
nature as disclosed in the notes on accounts, which may have an adverse effect on the 
Company‘s business. There are no pecuniary transactions with the independent/ non- 
executive directors other than the payment of remuneration disclosed in point no. 3 
above. 
b) 
 During the last three years there were no strictures or penalties imposed by either 
Securities and Exchange Board of India (SEBI) or the Stock Exchanges or any Statutory 
Authority for non-Compliance of any matter related to the capital markets. 
 

**7. 
NOTES ON DIRECTORS APPOINTMENT / RE-APPOINTMENT**

Relevant details form part of the Director‘s Report/Notice of the Annual General Meeting. 
 

**8. 
SHARE TRANSFERS**

SEBI has recently amended relevant provisions of SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 to disallow listed companies from accepting request for  
transfer of securities which are held in physical form, with effect from April 1, 2019. The 
shareholders who continue to hold shares and other types of securities of listed companies in 
physical form even after this date, will not be able to lodge the shares with company / its RTA 
for further transfer. They will need to convert them to demat form compulsorily if they wish to 
effect any transfer. Only the requests for transmission and transposition of securities in physical 
form, will be accepted by the listed companies / their RTAs. 
 

All the Share holders who are holding shares in physical form may open a demat account and 
submit request for dematerialization of their shares in order to protect the liquidity of the shares. 
The Company has got its Shares admitted with NSDL for providing the Shareholders facility of 
converting the shares from physical mode to demat. The company is also processing its 
application for Revocation of suspension of trading of its shares with BSE. The Company has 
also received the ISIN number INE092301014. However, till the trading approval is received, 
NSDL has allotted a temporary number INE092301015. Members wishing to have their shares 
demated should quote the temporary number as above. Once the revocation process is complete, 
the NSDL will automatically transfer these shares to INE092301014. Members having demat 
account with NSDL may contact their respective depository participants for converting the 
shares from physical mode to demat. The Company has also applied to CDSL for obtaining 
demat facility from them and the application in this regard is pending. Members having demat 
account with CDSL may wait for further communication by the Company in this regard 

Share transfers/transmission approved by the Committee are placed before the Board from time 
to time and transfers authorized are affected immediately. 
 

**9. 
MEANS OF COMMUNICATION**

The company's plant at Gundla Pochampalli remains inoperative for more than five years  with 
no commercial activity whatsoever. For the same reason there is no income from sales or 
operations except for a small amount of seeds traded from our R&D farm. The board of Directors 
by taking into account the aforesaid situation thought it prudent not to publish very low sales 
figures, and hence dispensed with publishing of results on quarterly and half yearly basis. With 
plans of revival, the Board of Directors expects to comply with all the requirements of publishing 
of results etc. 
 

**SHAREHOLDERS’ INFORMATION**

**1. 
Annual General Meeting**

Date and Time 
: 
 Saturday, 26th December, 2020 at 11.00 A.M. 
Venue 
: 
806 Meghdoot, 94 Nehru Place, New Delhi- 110019 
 

2. 
Details of Last 3 AGMs 
 

**Year**

 
 
 

 
Location 
Date 
Time 
 
2016-17 
806, Meghdoot, 
94, Nehru Place 

 
 

 
 
New Delhi- 110019 
29.09.2017 
11.00 A.M. 

 
2017-18 
806, Meghdoot, 

94, Nehru Place, 

 
 

 
 
New Delhi – 110019 
29.09.2018 
11.00 A.M. 

 
2018-19 
Paharpur Business Centre 

21, Nehru Place, 

 
 

 
 
New Delhi – 110019 
28.09.2019 
11.00 A.M. 
 

3. 
Registered Office: 
806, Meghdoot, 94, 
NehruPlace 
New Delhi-110019 
 

4. 
Corporate Office 
: 
806, Meghdoot, 94, 
NehruPlace 
New Delhi-110019 
5. 
Share Transfer System 
 

A Committee of Directors is authorized to approve transfer of shares and the said Committee 
approves transfer of shares. If the transfer documents are in order, the transfer of shares is 
registered within 15 working days of receipt of transfer documents. 
 

SEBI has recently amended relevant provisions of SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 to disallow listed companies from accepting request for 
transfer of securities which are held in physical form, with effect from April 1, 2019. The 

Shareholders who continue to hold shares and other types of securities of listed companies in 
physical form even after this date, will not be able to lodge the shares with company / its RTA 
for further transfer. They will need to convert them to demat form compulsorily if they wish to 
effect any transfer. Only the requests for transmission and transposition of securities in physical 
form, will be accepted by the listed companies / their RTAs. 
 

All the Share holders who are holding shares in physical form may open a demat account and 
submit request for dematerialization of their shares in order to protect the liquidity of the shares. 
The Company has got its Shares admitted with NSDL for providing the Shareholders facility of 
converting the shares from physical mode to demat. The company is also processing its 
application for Revocation of suspension of trading of its shares with BSE. The Company has also 
received the ISIN number INE092301014. However, till the trading approval is received, NSDL 
has allotted a temporary number INE092301015. Members wishing to have their shares demated 
should quote the temporary number as above. Once the revocation process is complete, the 
NSDL will automatically transfer these shares to INE092301014. Members having demat account 
with NSDL may contact their respective depository participants for converting the shares from 
physical mode to demat. The Company has also applied to CDSL for obtaining demat facility 
from them and the application in this regard is pending. Members having demat account with 
CDSL may wait for further communication by the Company in this regard. 
 

6. 
Registrars & Share Transfer Agents: 
KFin Technologies Private Limited. 
Selenium Building, Tower B, 
Financial District, Nanakramguda, Serilingampally, Hyderabad, 
Rangareddi, Telangana-500032, India 
Tel. 040-6716 2222 
 

**7. 
Distribution of shareholding as on 31st March 2020. 
 
Range 
Shareholder**

 

**Share Amount**

**Share holding of**

nominal value of Rs. 
10 

Number 
% to total holders 
Total 
(in Rs.) 

% to Total 

 Up to-5000 
5282 
91.61 
7447000.00 
16.92 

 5001-10000 
240 
4.16 
2099000.00 
4.77 

 10001-20000 
105 
1.82 
1606000.00 
3.65 

 20001-30000 
32 
0.55 
849000.00 
1.93 

 30001-40000 
26 
0.45 
949000.00 
2.16 

 40001-50000 
24 
0.42 
1122000.00 
2.55 

 50001-100000 
20 
0.35 
1410000.00 
3.20 

 100000& Above 
37 
0.64 
28520000.00 
64.82 

 Total 
5766 
100.00 
44002000.00 
100.00 

**8. 
Share holding Pattern of the Company as on 31st March, 2020**

 
Category 
No. of Shares held 
% of shareholding 

(A) 
Shareholding of Promoter and 
Promoter Group 

Indian Promoters 
 

Foreign Promoters 

 

1294500 

- 

 

29.42 

- 

(B) 
Public Shareholding 
 
 
(a) 
Financial 
Institutions/Banks/Mutual 
Funds/FII‘s 

437600 
9.94 

(b ) 
Bodies Corporate 
634700 
14.42 

(c ) 
Individuals holding nominal 
share capital upto Rs.2 lakh 

1461600 
33.22 

(d) 
Individuals holding nominal 
share capital in excess of Rs.2 
lakh 

390100 
8.87 

(e) 
Others 
181700 
4.13 
 
Total Public Shareholding 
31057000 
70.58 
 
Total(A)+(B) 
4400200 
100.00 
 

9. 
Dematerialization of Shares: 
 

The Company has got its Shares admitted with NSDL & CDSL for providing the Shareholders 
facility of converting the shares from physical mode to demat. The company is also processing its 
application for Revocation of suspension of trading of its shares with BSE. The Company has 
received the ISIN number INE092301014. However, till the trading approval  is received,  NSDL 
has allotted a temporary number INE092301015. Members wishing to have their shares demated 
should quote the temporary number as above. Once the revocation process is complete, the NSDL 
will automatically transfer these shares to INE092301014.The Company has received the ISIN 
number INE092301014. Members having dematted account with NSDL or CDSL may contact their 
respective depository participants for converting the shares from physical mode to demat. 
 

Particulars 
No. of equity Shares 
% to total   equity share 
capital 
National 
Securities 
Depository 
Limited 

87,300 
1.98 

Central Depository Services (India) 
Nil 
Nil 
Total Dematerialized 
87,300 
1.98 

Physical 
43,12,900 
98.02 
Grand Total 
4400200 
100 
 

10. 
Script Code 
: 
BSE – 519574 (A Group) 
ISIN No. - INE092301014 

**11. 
Market Price Data: Average monthly High and Low price at BSE:**

The trading of the shares of your Company was suspended due to non-compliance of certain 
formalities as per regulation 17 of the Securities and Exchange Board of India (Listing Obligations 
And Disclosure Requirements) Regulations, 2015. The Company has made the necessary 
application for revocation of suspension in trading of shares of the Company which is under 
consideration with BSE Limited. 
 

**12. 
CEO and CFO Certification**

The Managing Director of the Company give quarterly certification on Financial Results while 
placing Financial Results before the Board in terms of Regulation 17(8) of the Securities and 
Exchange Board of India (Listing Obligations And Disclosure Requirements) Regulations, 2015. 
The Managing Director has also given certificate on CEO and CFO Certification for the year ended 
31st March 2020 and the same is attached with the Annual Report. 
 

**13. 
Nomination Facility:**

Shareholders holding shares in physical form and desirous of making a nomination in respect of 
their shareholding in the Company, as permitted under Section 72 of the Companies Act, 2013, are 
requested to submit to the Company the prescribed Form for this purpose. 
 
 
 

For HINDUSTAN AGRIGENETICS LIMITED 
 
 
 

**PRITAM KAPUR 
PRANAV KAPUR 
CHANDNI KAPUR 
NEHA MITTAL 
Managing Director 
Chairman 
Director & CFO 
Company Secretary 
DIN- 00461538 
DIN: 00485910 
DIN: 07007247 
ACS- A27477**

Place: New Delhi 
Date: 28.11.2020 

**CEO CERTIFICATION**

Pursuant to the provisions of Regulation 17 of the Securities and Exchange Board of India (Listing 
Obligations And Disclosure Requirements) Regulations, 2015 with BSE, I Pritam Kapur, Managing 
Director of Hindustan Agrigenetics Ltd. hereby certify to the Board that: 
 

a) I have reviewed the financial statements and cash flow statement for the year and that to the best 

of my knowledge and belief 
 

i) 
These statements do not contain any materially untrue statement or omit any material fact or 
contain statements that might be misleading; 
 

ii) These statements together present a true and fair view of the Company's affair and are in 

compliance with existing Accounting Standards, applicable laws and regulations. 
 

b) To the best of our knowledge and belief, no transactions entered into by the Company during the 

year 2019-20 which are fraudulent, illegal or violative of the Company's code of conduct. 
 

c) I accept responsibility for establishing and maintaining internal controls for financial reporting 

and I have evaluated the effectiveness of internal control system of the Company pertaining to 
financial reporting and have disclosed to the auditors and the Audit Committee, deficiencies in 
the design or operation of such internal controls, if any, of which they are aware and the steps  
they have taken or propose to take to rectify these deficiencies. 
 

d) They have indicated to the auditors and the Audit Committee 
 

(i) There has not been any significant change in internal control over financial reporting during the year under 

reference; 
(ii) There has not been any significant change in accounting policies during the year requiring disclosure in the 

notes to the financial statements; and 
(iii) I am not aware of any instance during the year of significant fraud with involvement therein of the 

management or any employee having a significant role in the Company's internal control system over 
financial reporting. 
 
 

Place: New Delhi 
PRITAM KAPUR 
Date: 28.11.2020 
DIN-00461538 
Address – C-63, South Ext 

Part II, New Delhi – 110049 

**Sharma Anand & Company 
Chartered Accountants**

9/6584, Steet No. 3, Dev Nagar 
Karol Bagh, New Delhi - 110005 
Phones : 25725169,25748370 
Email : psharma5858@gmail.com 
 
 
 
 

**UDIN 20083731AAAABZ5863**

**INDEPENDENT AUDITOR’S REPORT**

**To 
The Members of 
M/S HINDUSTAN AGRIGENETICS LIMITED 
DELHI**

**Report on the Standalone Financial Statements**

We         have         audited         the         accompanying         standalone         financial         statements        of 
HINDUSTAN AGRIGENETICS LIMITED [CIN No.: L01119DL1990PLC040979],   which    comprise   the 
Balance Sheet as at 31st March 2020, and the Statement of Profit and Loss(including other Comprehensive 
Income),Statement of Changes in Equity for the year then ended and Cash Flow statement for the year 
ended on that date, and notes to the the standalone financial statement, including a summary of significant 
accounting policies and other explanatory information (hereinafter referred to as ―the standalone financial 
statements‖). 
 

**Management’s Responsibility for the Standalone Financial Statements**

1. 
The Company‘s Board of Directors is responsible for the matter stated in Section 134(5) of the companies 
Act, 2013 (―the Act‖) with respect to the preparation of these standalone financial statements that give a 
true and fair view of the state of affairs, profit/loss, and cash flows of the company in accordance with the 
accounting principles generally accepted in India, including the Accounting Standards specified under 
section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rule. 2014. This responsibility also 
includes maintenance of adequate accounting records in accordance with the provisions of the Act for 
safeguarding 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 
control, that were operating effectively for ensuring the accuracy and completeness of the accounting 
records, relevant to the preparation and presentation of financial statements that give a true and fair view 
and are free from material misstatements, whether due to fraud or error. 
 

In preparing the standalone financial statements, managements, and board of directors are responsible for 
assessing the company‘s 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. 

Board of Directors is also responsible for overseeing the Company‘s financial reporting process.

**Auditor’s Responsibility**

2. 
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 auditor‘s 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. 
 

Our responsibility is to express an opinion on these standalone financial statements based on our audit. 

We have taken into account the provisions of the Act, the accounting and auditing standards and matter 
which are required to be included in the audit report under the provisions of the Act and Rules made there 
under. 

We conducted our audit in accordance with the standards on auditing specified under section 143(10) of 
the Act. Those standards require that we comply with ethical requirements and plan and perform the audit 
to obtain reasonable assurance about whether the financial statements are free from material 
misstatements 

An audit involves performing procedure to obtain audit evidence about the amounts and disclosure in the 
financial statements. The procedures selected depend on the auditor‘s judgment, including the assessment 
of the risk of material misstatements of the financial statements, whether due to fraud or error. In making 
those risk assessment, the auditor considers internal control relevant to the Company‘s preparation of the 
financial statements that give a true and fair view in order to design audit procedures that are appropriate 
in the circumstances, but not for the purpose of expressing an opinion on whether the company has in 
place an adequate internal financial controls system over financial reporting and the operating 
effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies 
used and the reasonableness of accounting estimates made by the company‘s Directors, as well as 
evaluating the overall presentation of financial statements 

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our 
audit opinion on the standalone financial statements. 
 

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. 
 

From the matters communicated with those charged with governance, we determine those matters that 
were of most significance in the audit of the standalone financial statements of the current period and are 
therefore the key audit matters. We describe these matters in our auditors‘ report unless law or regulation 
precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that  
a matter should not be communicated in our report because the adverse consequences of doing so would 
reasonably be expected to outweigh the public interest benefits of such communication. 
 

**Opinion**

3. 
In our opinion and to the best of our information and according to the explanations given to us, the 
financial statements give the information required by the Act in the manner so required and give a true and 
fair view in conformity with the accounting principles generally accepted in India: 

a. In case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2020; 

b. In case of Profit and Loss Account, of the Loss for the year ended on that date. 

c. 
In case of Cash flow statements, of the cash flows for the year ended 31st March 2020. 

**Basis for Opinion**

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in 
the Auditor‘s 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 together with the ethical requirements that are relevant to our audit of the financial 
statements under the provisions of the Companies Act, 2013 and the Rules there under, and we have 
fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. 
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for 
our opinion. 
 

**Key Audit Matters**

Key audit matters are those matters that, in our professional judgment, were of most significance in our 
audit of the financial statement of the current period. These matters were addressed in the context of our 
audit of the financial statement as a whole, and in forming our opinion thereon, and we do not provide a 
separate opinion on these matters. 
 

**Other Information**

The Company‘s management and Board of Directors are responsible for the other information. The other 
information comprises the information included in the Company‘s annual report, but does not include 
the standalone financial statements and our auditors‘ report thereon. 
 

Our opinion on the standalone financial statements does not cover the other information and we do not 
express any form of assurance conclusion thereon. 
 

In connection with our audit of the standalone financial statements, our responsibility  is  to  read the 
other information and, in doing so, consider whether the other information is materially inconsistent 
with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to 
be materially misstated. If, based on the work we have performed, we conclude that there is a material 
misstatement of this other information, we are required to report that fact. We have nothing to report in 
this regard. 

**Report on Other Legal and Regulatory Requirements**

4. 
As required by the Companies (Auditor‘s Report) Order, 2016(―the order‖) issued by Central Government 
of India in terms of sub-section (11) of section 143 of the companies Act, 2013, We give in the Annexure a 
statement on the matters specified in paragraphs 3 and 4 of the order. 

5. 
As required by section 143(3) of the Act, we report that: 

a. We have sought and obtained all information and explanations which to the best of our knowledge and 

belief were necessary for the purpose 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 examinations of those books; 

The Balance Sheet, statement of Profit and Loss (including other comprehensive income), the statement of 
changes in Equity and the cash Flow Statement dealt with by this Report are in agreement with the 
books of account 

c. 
In our opinion, the aforesaid standalone financial standards comply with the Accounting Standards 
specified under section 133 of the Act, read with Rule 7 of the companies (Account) Rule, 2014. 

d. On the basis of written representations received from the directors as on 31st March 2019 taken on record by 

the Board of Directors, none of the director is disqualified as on 31st March 2020, from being appointed as a 
director in terms of section 164(2) of the Act. 

e. With respect to the adequacy of internal financial controls with reference to financial statement of the 

company and the operating effectiveness of such controls , refer to our separate report in Annexure B 

f. 
With respect to the other matters to be included in the Auditor‘s 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 gives to us: 

i. The Company did not have any pending litigation hence no impacts on its financial position; 
ii. The Company did not have any long term contracts including derivative contracts for which there were 
any material foreseeable losses. 
iii. The company has not transferred Rs. 1,53,692/- refund outstanding more than eight years under the 
head share application money to the Investor Education and Protection Fund. 
 

**For SHARMA ANAND & CO. 
CHARTERED ACCOUNTANTS 
Firm’s Registration No.: 005453N**

**Place: New Delhi 
Dated: 26-06-2020**

**(CA PARMOD SHARMA)**

**PARTNER 
M. No.:0 83731**

**M/S HINDUSTAN AGRIGENETICS LIMITED 
Annexure to Independent Auditor’s Report for the financial year ended on 31st March 2019**

**Referred to in paragraph 5 Under Report on other Legal and Regulatory Requirement Return of our 
report of even date.**

**(i) In respect of it’s Fixed Assets**

1. (a) The company has maintained proper records showing full particulars including quantitative details and 

situation of its fixed assets. 
 

(b) The Company has a regular programme of physical verification of its fixed assets by which all fixed 
assets are verified in a phased manner over a period of three years. In our opinion, this periodicity of 
physical verification is reasonable having regard to the size of the company and the nature of its assets. 
Certain fixed assets were verified during this year as per this program, No material discrepancies were 
noticed on such verification. 
 

(c) According to the information and explanations given to us and on the basis of our examination of the 

records of the Company, the title deeds of immovable properties included in fixed assets are held in the 
name of the Company. 
 

**(ii) In respect of Inventories**

1. (a) According to the information and explanations given to us , the inventories  have  been  physically  

verified by the management at reasonable Intervals during the year. In our opinion the frequency of such 
verification is reasonable. For stocks lying with third parties at the year end, written confirmations have 
been obtained. 
 

(b) The discrepancies noticed during the physical verification of inventories as compared to book records 
were not material and have been properly dealt with in the books of account. 
 

(iii) 
According to the information and explanations given to us, the company has not granted any 
loans, secured or unsecured, to companies, Limited Liability Partnership, firms or other parties covered in 
the register maintained under section 189 of the Act. Accordingly the provision of clause 3(iii) of the order  
is not applicable to the company. 
 

(iv) 
In our opinion and according to the information and explanation given to us, the company has 
not granted any loans or made any investments or provided any guarantee or security to the parties 
covered under section 185 & 186. Therefore the provisions of clause 3(iv) of the said order are not applicable 
to the company 
 

(v) 
According to the information and explanation given to us, the company has not accepted any 
deposits from the public and hence the directives issued by the Reserve Bank of India and the provision of 
section 73 to 76 or any other relevant provision of the Act and the companies (Acceptance of Deposit) Rules 
2015 with regard to the deposits accepted from the public are not applicable. 
 

(vi) 
As per information & explanation given by the management, the maintenance of cost records has 
not been prescribed by the Central Government under section 148(1) of the Act. 
 

(vii) 
(a) According to the information and explanations given to us and on the basis of our  
examination of the book of account of the company has been regular in depositing of undisputed statutory 
dues including provident fund, Employees state insurance income tax, customs duty, goods and service tax 

and other material statutory dues applicable to it with the appropriate authorities regularly deposited with 
the appropriate authorities. 
 

(b) According to the information and explanations gives to us, there was no undisputed amount payable in 

respect of provident fund, Employees‘ state insurance, income tax, customs duty, excise duty, goods and 
service tax and other material statutory dues were in arrears as at 31st March 2019 for a period of more than 
six months from the date they became payable. 
 

(viii) 
In our opinion and according to the information and explanation given to us, the company has  
not defaulted in repayment of dues to banks. The company has not taken any loan either from financial 
institution or from the government and has not issued any debentures. 

(ix) 
Based upon the audit procedures performed and the information and explanation given by the 
management, the company has not raised any term loan. Accordingly the provisions of clause 3(ix) of the 
order are not applicable to the company hence not commented upon. 

(x) 
According to information and explanations given to us, no fraud by the company or on the 
company by its officers or employees has been noticed or reported during the course of our audit. 

(xi) 
Based upon the audit procedure performed and the information and explanation given by the 
management, No managerial remuneration has been paid during the financial year. Accordingly the 
provisions of clause 3(xi) of the order are not applicable hence not commented upon. 

(xii) 
In our opinion, the company is not a Nidhi company. Therefore, the provisions of clause 4(xii) of 
the order are not applicable to the company. 

(xiii) 
In our opinion, all transaction with the related parties are in compliance with section 177 and 188 
of companies act 2013 and the details have been disclosed in the financial statements as required by the 
applicable accounting standard. 

(xiv) 
Based upon the audit procedure performed and the information and explanation given by the 
management, the company has not made any preferential allotment of shares during the year  under 
review. Therefore, the provisions of clause 4(xiv) of the order are not applicable to the company. 

(xv) 
Based upon the audit procedures performed and the information and explanation given by the 
management the company has not entered into any non cash transaction with director or person connected 
with him. Accordingly the provisions of clause 3(xv) of the order are not applicable to the company and 
hence not commented upon. 

(xvi) 
In our opinion the company is not required to registered under section 45 IA of Reserve Bank of 
India Act, 1934 and accordingly, the provisions of clause 3(xvi) of the order are not applicable to the 
company and hence not commented upon. 
 
 

**For SHARMA ANAND & CO. 
CHARTERED ACCOUNTANTS 
Firm’s Registration No.: 005453N**

**PLACE: NEW DELHI 
(CA PARMOD SHARMA)**

**PARTNER 
Date   : 26-06-2020 
M. No.: 083731**

**Sharma Anand & Company 
Chartered Accountant**

**HINDUSTAN AGRIGENETICS LIMITED**

**9/6584, Street No. 3 
Dev Nagar, Karol Bagh**

**New Delhi - 110005 
Phone : 25725169,25748370 
Email :pssharma5858@gmail.com 
UDIN 20083731AAAABZ5863**

**REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2020**

 
Particulars 
Notes 
 
As at 
31.03.2020 
(`) 

**As at 
31.03.2019 
(`)**

**I. ASSETS**

**(1) Non-Current Assets**

(a) Property, Plant and Equipment 

 

2 

 

3,568,000 

 
 

3,631,641 

 

(b) Capital Work In Progress 
 
- 
 
- 
 

(C) Financial Assets 

(i) Investments 

 

4(A) 

- 
- 

 
- 
- 

 

(D) Deferred tax assets (net) 
3 
9,265,919 
 
2,347,615 
 

(E) Other non-current assets 
 
- 
 
- 
 
 
 
------------------ 
12,833,919 
------------------ 
5,979,256 

**(2) Current Assets**

(a) Inventories 
 
- 
 
- 
 

(b) Financial Assets 

(i) Investments 

 

4(B) 

 

2,086,512 

 
 

13,829,649 

 

(ii) Trade receivables 
(iii) Cash and cash equivalents 

 

5 

- 
2,932,239 

 
- 
442,944 

 

 
 
- 
 
- 
 
(d) Other current assets 
6 
7,428,016 
 
1,109,323 
 

 
------------------ 
12,446,767 
------------------ 
15,381,916 
 

Total Assets 
25,280,686 
21,361,172 
============ 
============ 
II. EQUITY AND LIABILITIES 

**Equity**

(a) Equity Share capital 
7 
44,002,000 
44,002,000 
(b) Other Equity 
8 
-21,565,800 
-24,833,567 

------------------ 
22,436,200 
------------------ 
19,168,433 

**LIABILITIES 
Non-current liabilities**

Current liabilities 
- 
- 

(a) Financial Liabilities 
- 
- 

 
(i) Borrowings - 
 
 
- 
 
(ii) Trade payables 
9  
178,800 
 
406,252 
 
(b) Other current liabilities 
10  
2,208,086 
 
1,208,087 
 
(c) Provisions 
11  
457,600 
 
578,400 
 

(d) Current tax liabilities (Net) 
 
 
- 
2,844,486 
- 
2,192,739 
 

**Total Equity & Liabilities 
25,280,686 
21,361,172**

============ 
============ 

Significant Accounting Policies 
1 
Other notes to the financial statements 
2-22 
 

**The accompanying notes are an integral part 
of these financial statements 
Signed in terms of our report of evendate**

**FOR SHARMA ANAND & CO. 
CHARTEREDACCOUNTANTS 
For and on behalf of the Board of Directors 
Firm's Registration No.: 005453N 
PLACE: NEW DELHI**

 

**DATED: 26-06-2020**

**(PRITAM KAPUR) 
(MANNU KOHLI) 
Mg. DIRECTOR 
DIRECTOR 
Din No 00461538 
DIN No.: 06906151**

 

**(CA PARMOD SHARMA)**

**PARTNER 
Membership No. : 083731**

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019 
STATEMENT OF CHANGES IN EQUITY 
(a) Equity Share Capital**

**Equity share of Rs 10 each, fully paid up**

**` 
No of shares**

**As at 
31.03.2020 
(`) No of shares**

**As at 
31.03.2019 
(`)**

 
 

Balances at the beginning of 
the reporting period 
4,400,200 
44,002,000 
4,400,200 
44,002,000 
Changes in equity share capital during 
the year 
- 
- 
- 
- 
Balances at the end of the reporting 
period 

4,400,200 
44,002,000 
4,400,200 
44,002,000 

 

**(b) Other Equity 
Reserves and Surplus**

**Revaluation Retained 
Reserve 
Earning**

**Other Comprehensive 
Other Equity 
Income**

Balance as on 1-4-2018 
1,640,250 
-25,309,407 
-23,669,157 
Adjustment of Prior Period Expense 
- 
0 
Profit/(loss) for the year 
- 
(1,164,410) 
-1,164,410 
Other Comprehensive income for the year 
- 
 
- 
 
- 
-------------------- -------------------- 
-------------------- -------------------- 
Total Comprehensice Income forthe year 
- 
(1,164,410) -------------------------------------------------------- 1,164,410 
Transactions during the year 
- 
- 
- 
- 
-------------------- -------------------- 
-------------------- -------------------- 

 

Balance as on 31-3-2019 
1,640,250 
(26,473,817) 
- 
- 
-24,833,567 
Profit/(loss) for the year 
Other Comprehensive income for the year 

- 
- 

3,267,767 

- 

- 
- 
3,267,767 

 
-------------------- -------------------- -------------------- 
-------------------- 
-------------------- 
Total Comprehensice Income for the year 
- 
3,267,767 
- 
- 
3,267,767 
Transactions during the year 
- 
- 
- 
- 
 
 

 
 
 
 

Balance as on 31.03.2020 
1,640,250 
(23,206,050) 
- 
- 
(21,565,800) 
 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

**Note 3 - Deferred Tax Assets (Net) 
Particulars 
As at**

**31-03-2020 
(`)**

 
 

**As at 
31-03-2019 
(`)**

 
Deferred Tax Assets on Account of 
 

- Unabsorbed Depreciation 
7,036,650 
242,151 
- Unabsorbed Losses 
1,566,461 
2,055,814 
- Unabsorbed Long Term Capital Loss 
611,041 
- 

- Depreciation 
51,767 
49,650 

Net Deferred Tax Assets 
9,265,919 
2,347,615 

 

**Note 4 – Investment**

**4(A) NON CURRENT INVESTMENT**

 
 

Investment 
- 
- 

**4(B) CURRENT INVESTMENT**

 
 

Investment in Mutual Fund 
2,086,512 
13,829,649 

 
2,086,512 
13,829,649 
== ========== 
============ 

**Note 5 - Cash & Bank Balances 
CASH & CASH EQUIVALENTS**

Balances with banks 
In current accounts 

 

2,246,768 

 

427,709 

Cash in hand 
685,471 
15,235 
-- ---------------- 
------------------ 
Total 
2,932,239 
442,944 
== ========== 
============ 

**Note 6 - Other Current Assets 
OTHER CURRENT ASSETS**

MAT Credit Entitlement 
1,095,712 
1,095,712 
TDS recoverable from supplier 
13,611 
13,611 
Amount receivable on sale of MF 
6,318,693 

Total 
7,428,016 
1,109,323 
== ========== 
============ 

**Note 7 - Share Capital 
Particulars 
As at  
As at**

**31-03-2020 
(` ) 
31-03-2019 
(`)**

 

**SHARE CAPITAL**

 
 
 
 

AUTHORIZED CAPITAL 
 
 
 
 
50,00,000 Equity Shares of Rs. 10/- each. 
 
 
 
 
(Previous Year Rs 5,00,000 Equity Shares) 
50,000,000 
50,000,000 
 
============ 
============ 
ISSUED, SUBSCRIBED & PAID UP CAPITAL 
44,00,200 Equity Shares of `. 10/- each, Fully 

 
 
 
 

Paid up (Previous Year 44,00200 Equity Shares) 
44,002,000 
44,002,000 

Total 
44,002,000 
44,002,000 
 
============= 
============= 
 
 
 
 

**Notes**

**Right prefences and restrictions attached to shares**

- The company has one class shares having a per value of ` 10/- per share. Accordingly all the Equity shares rank equilly with regard to 

voting rights dividend and shares in Company's residual assets. 
Reconciliation of the number of equity shares and amount outstanding at the beginning and at the end of the reporting period. 

**No. of Shares 
Amount 
No. of Shares 
Amount**

2.1 Balance at the commencement of the year 
4,400,200 
4,400,200 
4,400,200 
4,400,200 

 
Additions duringthe year 
- 
- 
- 
- 
 

Balance at the end of the year 
  
440,020 
4,400,200 
440,020 
4,400,200 
 

**Details of Equity Shares held by shareholders holding more than 5% of the aggregate shares in the company.**

 

**Name of the Shareholders**

**No.of Shares**

**held**

 

**% holding**

**No. of Shares**

**held**

 

% holding 
M/s Magnum International Trading Ltd. 
530,000 
12.04 
530,000 
12.04 
M/s Andhra Pradesh Industrial Development Co.Ltd. 
371,400 
8.44 
371,400 
8.44 
Sh. Pritam Kapur 
527,200 
11.98 
527,200 
11.98 
Sh. Sumant Kapur 
223,600 
5.08 
223,600 
5.08 
Mr. Badrudin Kasamali 
0 
0 
294,300 
6.69 
Mrs Gulshan B Kasmali 
294,300 
6.69 
- 
0.00 
During the five reporting periods immediately proceeding the reporting period, no shares have been issued by consideration other than 
cash. 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

 

**Notes to the Financial Statements for the year ended 31st March 2020**

 

**Note 8 - Other Equity 
Reserves and Surplus 
Other Comprehensive**

**Income**

 

**Total Other**

Equity 
 RETAINED EARNINGS 
Revaluation 
Retained 
Reserve 
Earning 
Balance as on 1-4-2018 
1,640,250 
-25,309,407 
-23,669,157 
Adjustment of Prior Period Expense 
- 
- 
 
 
- 

Profit/(loss) for the year 
- 
-1,164,410 
 
 
-1,164,410 

Other Comprehensive income for the year 
- 
- 
 
 
- 

 
-------------------- -------------------- 
-------------------- -------------------- 
Total Comprehensice Income for the year 
- 
-1,164,410 
 
- 
-1,164,410 

Transactions during the year 
- 
- 
 
- 
- 
 
-------------------- -------------------- 
-------------------- -------------------- 
Balance as on 01-04-2019 
1,640,250 
-26,473,817 
- 
- 
-24,833,567 
Profit/(loss) for the year 
 
3,267,767 
 
 
3,267,767 
Other Comprehensive income for the year 
 

 

 

 
 
 
- 

Total Comprehensice Income for the year 
- 
3,267,767 
- 
- 
3,267,767 
Transactions during the year 
- 
- 
 
 
 

 

**Balance as on 31-3-2020**

 

 
1,640,250 

 

 
(23,206,050) 

 

**-**

 

**-**

 

**(21,565,800)**

 
 
 

Note 9 - Trade Payables 
TRADE PAYABLES 
 
 
Amount payable to growers/goods etc 
172,800 
230,500 
Payable for Services 
6,000 
 

 

175,752 
 

 
Total 
178,800 
============ 

406,252 
============ 
Due to micro and small enterprises 
Others 

- 
178,800 

 

 

- 
406,252 

 

 
 
178,800 
406,252 

 
 

There is no principal amount and interest is overdue to the micro and small enterprises. The information have been determined to the 
extent such parties have been identified on the basis of information available with the company. This has been relied upon by the 
auditors. 
 

**Notes**

**5.1**

**Note 10 - Other Current Liabilities**

 

**OTHER CURRENT LIABILITIES**

- Others Payables 

Share Application Refund a\c 

 

153,692 

 

153,692 

Amount payable to directors 
1,054,394 
1,054,395 

Advance for sale of Land 
1,000,000 
 

Total 
2,208,086 
============ 

1,208,087 
============ 
 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

 

Note 11 - Provisions 
SHORT TERM PROVISIONS 
- Others 

Stautory Dues 
70,500 
87,000 
Expenses Payable 
387,100 
491,400 
------------------- 
457,600  ------------------- 
578,400 

 

Total 
457,600 
578,400 
============ 
============ 

**Sharma Anand & Company 
9/6584, Street No. 3 
Chartered Accountant 
Dev Nagar, Karol Bagh 
New Delhi - 110005 
Phone : 25725169,25748370 
Email : pssharma5858@gmail.com**

**UDIN 20083731AAAABZ5863 
HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED ON 31ST MARCH, 2020**

 
Sr.   Particulars 
Notes 
No 

**Year ended**

**31.03.2020**

**(`)**

**Year ended**

**31.03.2019**

**(`)**

 

**I 
Revenue from operations**

 

12 

 

1,873,170 

 
 

612,080 

 

II 
Other non- operating income 

 

13 

 

1,321,405 

 
 

1,253,369 

 

**III 
Total Revenue (I +II)**

 
 

**3,194,575**

 
 

1,865,449 
 
 
= ========= 
= ========= 
IV 
Expenses: 
 
Cost of materials consumed 
14 
667,800 
 
422,040 
 
Purchase of Stock in trade 
 
- 
 
- 
 
Manufacturing & Operating expenses 
15 
407,895 
 
174,753 
Changes in inventories of finished goods, work-in- 
 
progress and stock in trade 
 
- 
 
- 
 
and Stock-in-Trade 
 
 
 
 

 
Employee benefit expenses 
16 
133,500 
 
109,500 
 
Finance costs 
 
- 
 
- 
 
Depreciation and Amortization expenses 
17 
63,641 
 
105,803 
 
Other Administrative expenses 
18 
5,572,275 
 
2,350,548 

 
Total Expenses (IV) 
 
6,845,111 
 
3,162,644 

 

V 
Profit before exceptional items & taxes 

 

(III-IV) 

 

-3,650,536 

 
 

-1,297,194 

VI 
Exceptional Items 
 
- 
 
- 

VII Profit before tax 
(V - VI) 
-3,650,536 
 
-1,297,194 

VIII Tax expense: 
 
(1) Current tax 
- 
 
 
 
 
 
- 
 
 
 
 
(2) Deferred tax 
-6,918,303 
 
-132,785 
 

 
 
- 
 
 
 
 
 
----------------- 
-6,918,303 

 

 
----------------- 
-132,785 

 

 
IX 
Profit/(Loss) for the year 
(VII-VIII) 
3,267,767  
-1,164,410 

**Sharma Anand & Company**

Chartered Accountant 
 
 

X 
Earning per equity share: 

(1) Basic 
19 
0.74 
-0.26 
(2) Diluted 
0.74 
-0.26 

Significant Accounting Policies 
1 

**The accompanying notes are an integral part of**

these financial statements 
2-22 
 
 
 
 
 

**PLACE: NEW DELHI**

**DATED: 26-06-2020**

 

**For and on behalf of the Board of Directors 
Signed in terms of our report of even date**

**FOR SHARMA ANAND & CO. 
CHARTERED ACCOUNTANTS 
Firm's Registration No.: 005453N**

**(PRITAM KAPUR) 
(MANNU KOHLI) 
(CA PARMOD SHARMA) 
Mg. DIRECTOR 
 
DIRECTOR 
 
PARTNER 
DIN No.: 00461538 
DIN No.: 06906151 
Membership No. : 083731**

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

**Note 12- Revenue from Operation 
Particulars 
Year ended**

**31.03.2020 
(`)**

 
 

**Year ended**

**31.03.2019**

**(`)**

 

**Revenue from operations 
Sale of Products**

 
 
 

Paddy Seed 
1,873,170 
 
612,080 
 

 
 
1,873,170 
 
612,080 
 
============ 
 
============ 
Details of Sale of Products 
 
 
 
Seeds 
1,873,170 
 
612,080 
 

 
 
1,873,170 
 
612,080 
 

 
 

**Note 13- Other non- operating income**

**Other non-operating income**

Dividend From Mutual Fund 
1,321,405 
 
1,253,369 
 

 
Total 
1,321,405 
 
1,253,369 
 
=========== 
 
=========== 

**Note 14- Cost Of Material Consumed**

**COST OF MATERIAL CONSUMED**

Opening Inventories 
- 
- 
 
Add:  
 
 
 
Purchases 
667,800 
422,040 
 
 
----------------- 
---------------- 
 

 
667,800 
422,040 
 
Less : 
Closing Inventories 

 

- 

 

- 

 

(As valued and as certified by the Director) 
---------------- 
667,800 
---------------- 
422,040 
 

 
Total 
667,800 
 
422,040 
 
============ 
 
============ 

**Note 15- Manufacturing & Operating Expenses**

Operating Expenses 
 
 
 
Labour Expenses 
67,500 
 
90,000 
Packing Expense 
62,040 
 
18,012 
Other Operating Expenses 
233,325 
 
50,876 
Freight Outward 
16,200 
 
8,800 
Quality control test 
28,830 
 
7,065 
 

 
 
407,895 
 
174,753 
 
============ 
 
============ 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

**Note 16 - Employee Benefits Expenses 
Particulars 
Year ended**

**31.03.2020 
(`)**

 
 

**Year ended**

**31.03.2019**

**(`)**

 

**EMPLOYEE BENEFITS EXPENSES**

Salaries, Bonus, PF & ESIC 
133,500 
109,500 

 

**Total**

 

133,500 
============ 

 

109,500 
============ 
 

**Note 17 - Depreciation & Amortised Cost**

 

Depreciation on tangible assets 
63,641 
105,803 
 

 
Total 
63,641 
105,803 
 
============ 
============ 

**Note 18 - Other Administrative Expenses**

**OTHER EXPENSES**

Annual Meetings 
94,264 
39,800 
Car Insurance 
9,369 
9,192 
Vehicle Repair & Maintenance 
43,329 
111,322 
Conveyance & Travelling 
131,542 
171,221 
General & Misc Expenses 
141,118 
148,253 
Folio Maintenance Charges 
23,033 
99,611 
Printing & Stationary Expense 
148,594 
 
BSE joining fee 
43,600 
- 
Postage & Telegram 
- 
45,765 
Legal & Professional Expenses 
227,480 
321,773 
Rent, Rates & Taxes 
114,000 
114,000 
Repair & Maintenance 
3,500 
7,062 
Supervision charges 
54,000 
66,000 
Loss on valuation of financial assets 
913,489 
798,969 
Loss on Sales Mutual Fund 
3,205,046 
101,880 
Listing Fee 
354,000 
295,000 
ROC filling fee 
65,912 
20,700 
 
------------------- 
------------------- 
Total 
5,572,275 
2,350,548 
 
============ 
============ 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Note 19 -Earnings per Share**

 

Earnings per shares in calculated by dividing the profit attributable to equity shareholders by the weighted average number of equity 
shares outstanding during the year as under. 
 

(i) 
Profit/ (Loss) for the year Attributable to equity 

**Current Year 
Previous Year**

shareholders 
3,267,767 
(1,164,410) 

Weighted 
average 
number 
of 
equity 
Shareholders during the years (NOS) 
 

(ii) 
(iii) Number of Equity Shares outstanding during the 

4,400,200 
4,400,200 

year 
4,400,200 
4,400,200 

Basic & Dilluted Earning per share (`.) 
 

0.74 

 

(0.26) 

iv) 
Nominal Value of Shares 
10/- 
10/- 
 

**Note 20 - Segment Reporting**

 

SEGMENT INFORMATION 
(i) 
Primary Segment 
As the company business actively falls within a single primary business segment viz seeds. The disclosure requirement of 
Accounting Standard No-17- Segment reporting issued by The Institute of Chartered Accountants of India are not applicable. 
 
 

**(ii) Secondary Segment**

The Company caters only to the needs of Indian Market and accordingly, there are no reportable geographical segment. 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

**Note 21 - Related Party disclosures**

RELATED PARTY DISCLOSURES UNDER ACCOUNTING STANDARD –18 
(I) 
In accordance with the requirment of Accounting Standard- AS -(18) on Related party Disclosures, the names of related parties 
where control exists and/or with whom transactions have taken place during the year and description of relationships, as identified 
and certified by the management are : 
(A) Enterprises in which the Company control 
Nil 
Parties in respect of which the company is a joint 
(B) venture 
Nil 

**(C) Key Management Personnel**

Key 
Managing director 
Sh Pritam Kapur 
DIN No. 00461538 
Director cum CFO 
Company Secretary 

Sh. Mannu Kohli 
Smt. Neha Mittal 

DIN No. 06906151 

 

(D) Enterprises on which key management personnel and their 

relatives are able to exercise significant influence 
Nil 
 

(II) Transaction with and out standing balance of 

related parties during the year 

 
 

 
 
Current Year 
Previous Year 
 
 
(`.) 
(`.) 
a) 
Enterprises in which the company has control 
Nil 
Nil 
b) 
Parties in respect of which the company is a 
 
 
 
joint venture 
Nil 
Nil 

c) 
Key Managerial Personnel 
 
 

 
Amount (reimbursement of Expenses) 
- 
- 
 
Rent 
114,000 
114,000 

d) 
Enterprises over which key management 
 
 

**personnel and their relatives are able to 
 
 
 
exercise significant influences.**

 
Balance outstanding as at 
 
 
 
Year End 
- Payable 

 

1,282,395 

 

1,168,395 
 
 

Note 22 - General Information 
a) 
In the opinion of board, all current assets, loans and advances are approximately of the value stated, if realised in 
ordinary course of the business and in their opinion and to the of their knowledge and belief all known liabilities have 
been brought to the accounts. 
 

b) 
Previous year figures have been grouped/reclassified whenever necessary to correspond with the current year 
classification/disclosure. 

Sharma Anand & Company 
9/6584, Street No. 03 
Chartered Accountant 
Dev Nagar, Karol Bagh 
New Delhi - 110005 
Phones : 25725169,25748370 
Email : psharma5858@gamil.com 
 

**HINDUSTAN AGRIGENETICES LIMITED 
REGD OFFICE : 806 MEGHDOOT , 94 NEHRU PLACE**

**NEW DELHI**

**CASH FLOW STATEMENT FOR THE YEAR ENDED ON 31ST MARCH 2020**

**`**

 
 
For the year 
For the year 
 
 
ended 
Ended 
 
 
31st March 2020 
31st March 2019 
A 
CASH FLOW FROM OPERATING ACTIVITIES: 
 
 
 
Net profit / (loss) before taxes & interest 
(3,650,536) 
(1,297,194) 
 
Change in Retained Earning 
- 
(1,445,003) 

**Adjustment for:**

 
Depreciation 
63,641 
105,803 
 
Profit/(loss) on sales of mutual funds 
3,205,046 
101,880 
 
Dividend on Mutual funds 
(1,321,405) 
(1,253,369) 
 
Revaluarion of Finacial Assets 
913,489 
 

 

798,969 
 

 
 
Operating Profit before working capital changes 
(789,766) 
 

 

(2,988,915) 
 

 
 
Adjustment for: 
 
 

 
Other Current Assets 
(6,318,693) 
(2,500) 
 
Current Liabilities & Provisions 
651,747 
610,266 

**Cash generated from Operations**

 

 
(6,456,712) 

 

 
(2,381,148) 

 
Income Tax Paid 
- 
- 
 

 

 
Net cash from Operating Activities (I) 
(6,456,712) 
========= 

(2,381,148) 
========= 
B. 
CASH FLOW FROM INVESTING ACTIVITIES: 
 
 

 
Acquisition of fixed assets including work in progress 
and capital advances 
Sales of investments 

- 
 

10,624,603 

(286,455) 
 

1,200,000 
 
Purchase of investments 
 
(3,000,000) 
- 
 
Income from Investment 
 
1,321,405 
1,253,369 

 
Net Cash used in Investing Activities (II) 
8,946,008 
2,166,914 
 
 
 
========= 
========= 

 
 

**Cash Flow after Investing Activities III = ( I + II )**

 

2,489,296 

 

(214,235) 

**Sharma Anand & Company**

Chartered Accountants 
 
 
 

 

**C. 
CASH FLOW FROM FINANCING ACTIVITIES:**

 
 
 

Increase/(decrease) in term loan 
 
- 
- 
 
 
- 
- 

Net Cash Flow from Financing Activities 
 
- 
- 
 
 
========= 
========= 
 
 
--------------- 
--------------- 
Net Increase in cash and cash equivalents (A) + (B) + (C) 
2,489,296 
(214,235) 
 
 
========= 
========= 

Cash and cash equivalents - Opening 
 
442,944 
657,180 
Cash and cash equivalents - Closing 
 
2,932,239 
442,945 

 

**For and on behalf of the Board of Directors**

 

**for SHARMA ANAND & CO. 
 
 
 
CHARTERED ACCOUNTANTS 
Firm's Registration No.: 005453N 
PLACE : NEW DELHI**

**DATED : 26-06-2020**

**(PRITAM KAPUR) 
 
(MANNU KOHLI) 
(CA PARMOD SHARMA) 
Mg. DIRECTOR 
 
DIRECTOR 
PARTNER 
DIN No.: 00461538 
DIN No.: 06906151 
Membership No. :083731**

 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE: 806, MEGHDOOT, 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Note- I**

**NOTES ON ACCOUNTS**

The company is a public company ,incorporated with the Indian Companies Act 1956 and is listed on 
the BSE(presently under suspension) . The company is engaged in the business of processing and 
trading of seeds. 

 

(A) 
(1) 
1.1 
 
 
 

1.2 
 
 

1.3 

STATEMENT OF ACCOUNTING POLICIES 
STATEMENT OF COMPLIANCE 
The financial statements have been prepared and presented in accordance with Indian Accounting 
Standards (Ind As) as per the Companies (Indian Accounting Standards) Rules 2015 (as amended) 
notifed under section 133 of companies Act 2013 (the Act) and other relevant provision of the Act. 
 

Accounting policies have been consistently applied except where a newly issued  accounting standard  
is intially adopted or a revision to an existing accounting standard requires a change in the accounting 
policy in use. 

BASIS OF MEASURMENT 
The financial statements have been prepared under the historical cost basis except certain 
financial assets and liabilites has been prepared on fair value and Net defined benefit 
assets/(obligation ) has been prepared on fair value of plan assets less the present value of 
defined benefit obligaiton 
 

**(2) 
USES OF ESTIMATES**

The Preparation of financial statements in conformity with Indian Accounting Standards (Ind AS) 
requires management to estimates, judgements and assumption to be made that affect the reported 
amounts of assets and liabilities on the date of the financial statements and the reported amounts of 
assets and liabilities, revenues and expenses and the disclousre of contingent liabilties on the date of 
financial statements . The actual outcome may be different from the estimates. Any revision to 
accounting estimates is recongnised prospectively in current and future periods. Eatimates and 
underlying assumption are reviewed on an ongoing basis. 

**current and non current classification**

All assets and liabilities are classified into current and non- current as per the Company' s normal operating cycle 
and other criteria set out in Schedule III of the Companies Act 2013. Based on the nature of it's activities and 
the time between the acquisition of assets for processing and their realisation in cash or cash equivalents, the 
company has ascertained its operating cycle as 12 months for the purpose of current or non current classification 
of assets and liabilites 
 

**(3) 
FIXED ASSETS**

Fixed assets (Tangible) are stated at original cost including relevant taxes (other than those 
subsequently recoverable from tax authorities), duties freight and other incidental expenses related to 
acquisition/ installation of the respective assets. 
TRANSITION TO Ind AS : On transition to Ind As, the company has elected to continue with the 
carrying value of all its property, plant and machinery recongnised as at 1st April 2016 measured as 
per the previous GAAP and use that carrying value as the deemed cost of the propety , plant and 
equipment. 
 

**(4) 
DEPRECIATION**

Depreciation on Fixed Assets is provided on Written down Value method basis as per usefull life 
prescribed under Schedule II to the companies Act, 2013 as prevailing except in case of certain  
assets such as depreciation has been provided at higher rates based on useful life as determined by  
the management. 

In respect of fixed assets added/disposed off during the year depreciation is provided on pro-rata  
basis with referance to the month of addition/deduction, however, in case of new projects the 
depreciation from the date of commencing of such project is charged to the statement of profit and 
loss. 

**(5) 
INVENTORIES**

The inventories are valued as follows : - 

Finished goods & by products :- are valued at lower of cost or net realisable value 

Packing materials 
:- are valued at cost. 

Obsolete, defectives, slow moving and/or unserviceable inventories, if any are duly accounted for. 
 

**(6) 
REVENUE RECOGNITIONS**

**TURNOVER**

Revenue from sale of goods in the course of ordinary activities is recognised when property in goods  
or all significant risks and rewards of their ownership are transferred to the customers and stated net 
of sales tax/ VAT/ GST/ trade discounts and rebates 
Income from services is recognised as they are rendered ( based on agreement/arrangement with the 
concerned customers). 
 

Rent, Short & Excess Recoveries & other Income are accounted for on accrual basis. 
 

**(7) 
BORROWING COSTS**

Borrowing Costs that are attributable to acquisition, construction or production of qualifying assets are 
capitalised as pert of cost of such assets. A qualifying assets is an assets that necessarily takes a 
substantial period of time to get ready for intended use. All other borrowing costs are charged to the 
profit and loss account. 
 

**(8) 
INVESTMENTS AND OTHER FINANCIAL ASSETS**

The company classifies its financial assets in the two measurement categories- one those to be 
measured subsuequently at fair value(either through comprehensive inocme, or through proft or loss) 
and secon those measured at amortised cost. The classifcication depends on the company's business 
model for managing financial assets and the comrtactural terms of the cash flows. 
For assets measured at fair value , gains and lossed will be either be recorded in profit or loss or 
other comprehensive income. The company has made an irrevoable election at the time of intial 
recognistion to account for the investment at fair value through other comprehensive income. 
 

**(9) 
TAXES ON INCOME**

Current tax is determined as the amount of tax payable in respect of taxable income in specified 
under Income Tax 1961 as amended. 

Deferred tax is recognised, subject to consideration of prudence in respect of deferred tax assets, 
on timing dif-ferences, being the difference between taxable income and accounting income that 
originates in one period and are capable of reversal in one or more subsequent periods and using 
the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet 
date. 
 

Deferred tax assets are recognised and carried forward only to the extent that there is a reasonable 
certainty that sufficient future taxable income will be available against which such deferred tax 
assets can be realised. 
 

**(10) EVENTS OCCURRING AFTER BALANCE SHEET**

Events Occurring after balance sheet date have been considered in preparation of financial 
statements. 
 

**(11) FOREIGN CURRENCY TRANSACTION**

Transaction in foreign currency are recorded at exchange rate prevailing at the time of the  
transactions and exchange differences arising from foreign currency transactions are dealt with in 
profit and loss account. Transactions in foreign currencies remaining unsettled at the end of the year 
are translated at contracted rate where they are covered by foreign exchange forward contracts and 

at the rate prevailing at the end of the year in other cases and the corresponding effect is given in the 
respective account. Any difference subsequently as compared to actual payments or realisation is 
recognised as exchange variations in the year of settlement / realisation and dealt in profit and loss 
account. 
 

In the case of forward exchange contracts entered to hedge the foreign exchange fluctuations , the 
difference between the forward rate and the exchange rate at the date of the transaction is recognized 
as income or expenses over the life of the contract, except in respect of liabilities incurred for  
acquiring fixed assets, in which case such difference is adjusted in the carrying amount of the 
respective fixed assets. Any profit or loss arising on cancellation or renewal of a forward exchange 
contract is recognised as income or expense for the period, except in the case of forward exchange 
contract relating to liabilities incurred for acquiring fixed assets, in which case such profit or loss is 
adjusted in the carrying amount of the respective fixed assets. 
 

The Company follows the Accounting Standards which are made mandatory. It is in the process of 
formulating the requisite mechanism/ systems to meet prescribed requirements under Accounting 
Standards 30, 31 & 32. It shall be following the accounting policy of recognition, presentation & 
disclosure of forward exchange transactions including Derivative/ Hedging/ Currency Swaps & Interest 
Swaps etc as prescribed under these Accounting Standards with effect from the date these are made 
mandatory by ICAI. 
 

**12 
Provisions and Contingent Liabilities**

The company creates a provision when there exist a present obligation as a result of a past event that 
probably requires an outflow of resources and a reliable estimate can be made of the amount of the 
obligation. A disclosure for a contingent liability is made when there is a possible obligation or a 
present obligation that may, but probably will not, require an outflow of resources. When there is a 
possible obligation in respect of which the likelihood of outflow of resources is remote, no provision or 
discloure is made. Contigent assets are not recognized in the financial statements. 

**62**

 
 

**HINDUSTAN AGRIGENETICS LIMITED 
REGD OFFICE : 806, MEGHDOOT 94, NEHRU PLACE**

**NEW DELHI - 110019**

**Notes to the Financial Statements for the year ended 31st March 2020**

**Note : 2 Property, Plant and Equipment**

 

**Sr. 
Gross Block 
Depreciaton 
Net Block 
Particulars 
Value at the 
No 
beginning**

**Addition during the**

**year**

**Deduction during 
Value at the end 
the year**

**Value at the**

**beginning**

**Addition during the**

**year**

**Deduction during the 
Value at the end 
year**

**WDV as on 
31.03.2020**

**WDV as on 
31.03.2019**

 
I 
Tangible Assets 
1 Agriculutral Land 
3,118,000 
- 
- 
3,118,000 
- 
- 
- 
- 
3,118,000 
3,118,000 
2 Vehicles (Cars) 
1,424,207 
- 
1,424,207 
1,334,835 
23,138 
- 
1,357,973 
66,234 
89,372 
3 Other Equipment 
108,263 
- 
108,263 
76,785 
14,187 
- 
90,972 
17,291 
31,478 
4 Residential Plot 
335,000 
- 
335,000 
- 
- 
- 
- 
335,000 
335,000 
5 Computer 
139,586 
- 
139,586 
138,094 
942 
- 
139,036 
550 
1,492 
6 Mobile 
115,220 
- 
115,220 
58,922 
25,374 
- 
84,296 
30,925 
56,299 

 

**Figures for the Current**

**Year (`)**

 
 

**5,240,276**

 
 

**-**

 
 

**5,240,276**

 
 

**1,608,636**

 
 

**63,641**

 
 

**-**

 
 

**1,672,277**

 
 

**3,568,000**

 
 

**3,631,641**

 

**Figures for the Previous**

 
 
 
 
 
 
 
 
 

**Year (`) 
4,953,821 
286,455 
5,240,276 
1,502,833 
105,803 
- 
1,608,636 
3,631,641 
3,450,988**

**63**

**Form No. MGT-11**

**Proxy Form**

[Pursuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies (Management and 
Administration) Rules, 2014] 
 

Name of the member(s) : ……………………………………… 
Registered Address 
: ……………………………………… 
E-mail ID 
: ……………………………………… 
Folio No/Client ID 
: ………………………………… DP ID: ………………………………………. 
 

I/We, being the member(s) of……………………….shares of Hindustan Agrigenetics Limited, hereby appoint 

1. 
Name : ………………………………………E-mail ID : ……………………………………….. 
 

  Address : ……………………………………Signature ................................ , or failing him 
 
2. 
Name : ………………………………………E-mail ID : ……………………………………….. 
 

   Address : ……………………………………Signature ............................... , or failing him 
 

3. 
Name : ………………………………………E-mail ID : ……………………………………….. 
 

  Address : ……………………………………Signature : ………………………………………… 
 
as my /our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Thirtieth Annual 
General Meeting of Hindustan Agrigenetics to be held at 11:00 a.m. on Saturday, the 26th day of December, 
2020, at 806 Meghdoot, , 94, Nehru Place, New Delhi-110019 and at any adjournment thereof in respect of such 
resolutions as are indicated below: 
 
RESOLUTION NO. 
1. 
Adoption of the audited financial statements for the financial year ended 31st March, 2020. 
2. 
To appoint a director in place of Mr. Pranav Kapur (DIN: 00485910), who retires by rotation and 
being eligible offers himself for re-appointment. 
3. 
To appoint a director in place of Ms. Mannu Kohli (DIN: 06906151), who retires by rotation and being 
eligible offers herself for re-appointment. 
4. 
To appoint a director in place of Ms. Chandni Kapur (DIN: 07007247), who retires by rotation and 
being eligible offers herself for re-appointment. 
5. 
To ratify the appointment of M/s Anand Sharma & Company, Chartered Accountants, New Delhi 
(Firm Registration No. 005453N), as Statutory Auditors and to fix their remuneration. 
6. 
To appoint Mr. Sunny Srivastava as an Independent Director of the Company. 
7. 
To appoint Mr. Naren Pasrai as an Independent Director of the Company. 
8. 
To appoint Mr. Banibrata Pandey as a Director of the Company. 
9. 
To consider and approve payment of remuneration of Rs. 3,00,000/- p.m. (Rupees Three Lakhs) to Mr. 
Banibrata Pandey, Non Executive Director in excess of the limits prescribed under Companies Act, 
2013 and/or Securities and Exchange Board of India(Listing Obligations and Disclosure 
Requirements) Regulations,2015 
10. To consider and approve payment of remuneration of Rs. 3,00,000/- p.m. (Rupees Three Lakhs) to Mr. 

Pritam Kapur, Managing  Director in excess of the limits prescribed under Companies Act, 2013 
and/or Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) 
Regulations,2015 
 
Signed this……………………day of ............................................... 2020 
Signature of Shareholder ……………………………………… 
Signature of Proxy holder(s)………………………………….. 
Note: This form of proxy in order to be effective should be duly completed and deposited at the Registered 
/Corporate Office of the Company, not less than 48 hours before the commencement of the Meeting 

Affix 
Revenue 
Stamp 

**Book Post**

If undelivered, please return to following address: 
M/s Hindustan Agrigenetics Limited, 
806, Meghdoot, 94 Nehru Place, 
New Delhi 110 049 