Safa Systems & Technologies Ltd
Directors Reports
To,
The Members of
Safa Systems & Technologies Limited
Your Directors have pleasure in presenting the 2nd Directors' Report on the
business and operations of Safa Systems & Technologies Limited (The Company) together
with the Audited Financial Statements of Accounts of the Company for the Financial Year
ended March 31, ,2023
1. FINANCIAL HIGHLIGHTS:
(Rupees in Lakhs)
P A R T I C U L A R S |
FY 2022-23 |
FY 2021-22 |
Total Revenue |
41982.98 |
12833.33 |
Total Expenses |
41757.29 |
12796.23 |
Profit/Loss Before Tax |
225.69 |
37.10 |
Less: Tax Expense |
67.44 |
9.32 |
Profit & Loss after Tax |
158.25 |
27.78 |
Earning Per Shares (Basic) |
1.05 |
0.18 |
Earning Per Shares (Diluted) |
1.05 |
0.18 |
2. STATE OF COMPANY AFFAIRS AND REVIEW OF OPERATIONS:
During the Financial Year ended 31st March, 2023, the Company has recorded total
revenue of INR 41982.98 Lakhs/- as against INR 12833.33 Lakhs /- in Financial Year 202122
and the Company has earned Net Profit of INR 158.25 Lakh in the Financial Year 202223 as
against INR 0.18 Lakhs in the Financial Year 2021-22.
3. SHARE CAPITAL:
(i) Changes in the Capital Structure:
Authorized Share Capital:
The Authorised shares capital of the Company stood Rs. 15,50,00,000 (Rupees Fifteen
Crore and Fifty Lakh) divided into 1,55,00,000 (One Crore Fifty Five Lakh) Equity Shares
of Rs 10 (Ten) each.
During the year there was no changes in the Authorised Share Capital of the Company.
Issued, Subscribed and Paid-Up Share Capital:
The Issued, subscribed and paid up share capital of the Company on March 31, 2023,
stood at INR 15,07,75,500/- (Indian Rupees Fifteen Crores Seven Lacs Seventy five Thousand
Five hundred Only) divided into 1,50,77,550 Equity Shares of INR 10/- (Indian Rupees Ten
Only)each.
During the year there was no change in the Issued, subscribed and paid up share capital
of the Company.
4. DEPOSITS:
During the reporting period, your Company has not accepted any deposits, falling within
the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of
Deposits) Rules, 2014.
5. DIVIDEND:
The Board of Directors did not recommend any dividend for the year.
6. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was
no dividend declared and paid last year.
7. AMOUNTS, IF ANY, WHICH IT PROPOSES TO CARRY TO ANY RESERVES:
We do not propose to transfer any amount to general reserve.
8. CHANGE IN THE NATURE OF BUSINESS, IF ANY:
During the reporting period there was no changes in the nature of the business of the
Company.
9. REVISION OF FINANCIAL STATEMENT, IF ANY:
There was no revision in the financial statements of the Company.
10. DIRECTORS & KEY MANAGERIAL PERSONNEL:
The Board of the Company was duly constituted in accordance with the provisions of the
Companies Act, 2013. As of the date of the report, your company has the following
Directors on its Board.
DIN No. / PAN |
Name Of Directoi/KMP |
Designation |
Date of Appointment |
Date of Resignation |
01390977 |
Mr. Bavaraparambil
Abdhulkadher
Hydrose |
Non-Executive
Director |
21/09/2021 |
|
07729191 |
Mr. Faizal Bavaraparambil Abdul Khader |
Managing
Director |
21/09/2021 |
|
09237016 |
Ms. Sruthi Muhammed Ali |
Whole-time
Director |
21/09/2021 |
|
09248528 |
Mr. Bengolan Anilkumar |
Independent
Director |
06/12/2021 |
|
09250652 |
Mr.
Sankaranarayanan Nair Sreejith |
Independent
Director |
06/12/2021 |
|
APCPR2843D |
Mr. Harikrishnan Raghunathan Nair |
Chief Financial Officer |
03/12/2021 |
20/06/2022 |
BSTPD0037L |
Ms. Pushpita Dasgupta |
Company Secretary and Compliance Officer |
03/12/2021 |
02/01/2023 |
APCPR2843D |
Mr. Alingal Pandian Rajeswari |
Chief Financial Officer |
20/06/2022 |
|
BSTPD0037L |
Ms. Rupal Pandey |
Company Secretary and Compliance Officer |
02/01/2023 |
|
During the year under review following changes took place in the Board of Directors and
Key Managerial Persons.
Mr. Harikrishnan Raghunathan Nair resigned form the post of Chief Financial
Officer of the Company w.e.f. 20/06/2022.
Mr. Alingal Pandian Rajeswari Appointed as a Chief Financial Officer of the
Company w.e.f. 20/06/2022
Ms. Pushpita Dasgupta resigned from the post of Company Secretary and Compliance
Officer of the Company w.e.f. 02.01.2023.
Ms. Rupal Pandey appointed as Company Secretary and Compliance Officer of the
Company w.e.f. 02.01.2023
11. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
During the Financial Year under review 05 (Five) meetings of the Board of Directors
were held. The dates on which the said meetings were held:
30th May,2022
20th June,2022
31st August,2022
14th November,2022
2nd January,2023
31st March,2023
The intervening gap between the Meetings was within the period prescribed under the
SEBI (LODR) Regulations, 2015 and Companies Act, 2013.
S. No. |
Name Of Director |
Designation |
No. of Board Meeting eligible to attend |
No. of Meetings
attended |
No. Meeting
in
which
absent |
1. |
Mr. Faizal Bavaraparambil Abdul Khader |
Managing Director |
6 |
6 |
0 |
2. |
Mr. Bavaraparambil Abdhulkadher
Hydrose |
Director |
6 |
6 |
0 |
3. |
Ms. Sruthi Muhammed Ali |
Director |
6 |
6 |
0 |
4. |
Mr. Bengolan Anilkumar |
Independent Director |
6 |
6 |
0 |
5. |
Mr. Sankaranarayanan Nair Sreejith |
Independent Director |
6 |
6 |
0 |
Retirement by Rotation:
As per the provisions of the Companies Act, 2013, Mr. Bavaraparambil Abdhulkadher
Hydrose (DIN: 01390977) is the director whose office is liable to retire by rotation in
accordance with the provision of Companies Act, 2013 and being eligible, offers himself
for re-appointment at the 02nd Annual General Meeting of the Company.
Declaration by Independent Directors:
Pursuant to Section 149 (7) of the Companies Act, 2013 ("the Act") read with
the Companies (Appointment and Qualifications of Directors) Rules, 2014, the Company has
received declarations from all the Independent Directors of the Company confirming that
they meet the 'criteria of Independence' as prescribed under Section 149 (6) of the Act
and have submitted their respective declarations as required under Section 149 (7) of the
Act and the Listing Regulations. In terms of Section 150 of the Act read with Rule 6 of
the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended,
Independent Directors of the Company have included their names in the data bank of
Independent Directors maintained with the Indian Institute of Corporate Affairs.
Board Committees:
Currently, the Board has following committees: Audit Committee, Nomination &
Remuneration Committee and stakeholder relationship committee.
Audit Committees:
The Audit Committee of the Company is constituted in line with the provisions of
Section 177 of the Companies Act, 2013.The Audit Committee is constituted in line to
monitor and provide effective supervision of the management's financial reporting process,
to ensure accurate and timely disclosures, with the highest level of transparency,
integrity, and quality of Financial Reporting.
During the Financial Year under review 04(Four) meeting of the Audit Committee was
convened and held. The dates on which the said meetings were held:
30th May,2022
20th June,2022
31st August,2022
14th November,2022
S. No |
Name of the Members |
Designation |
No. of Audit Committee Meetings attended during the year |
1. |
Bengolan Anilkumar |
Chairman and Independent Director |
4 |
2. |
Bavaraparambil Abdhulkadher Hydrose |
Member and Director |
4 |
3. |
Sankaranaryan Nair Sreejith |
Member and Independent Director |
4 |
During the year, all recommendations of the audit committee were approved by the Board
of Directors.
Nomination and Remuneration Committee:
The Nomination and Remuneration Committee of the Company is constituted within the
provisions of Section 178 of the Companies Act, 2013. The Nomination and Remuneration
Committee recommends the appointment of Directors and remuneration of such Directors.
The level and structure of appointment and remuneration of all Key Managerial personnel
and Senior Management Personnel of the Company, as per the Remuneration Policy, is also
overseen by this Committee.
During the Financial Year under 05(Five) meeting of the Nomination and Remuneration
Committee were convened and held. The dates on which the said meetings were held:
30th May,2022
20th June,2022
31st August,2022
14th November,2022
2nd January,2022
S. No |
Name of the Members |
Designation |
No. of Nomination and remuneration Committee Meetings attended during
the year |
1. |
Sankaranaryan Nair Sreejith |
Chairman and Independent Director |
5 |
2. |
Bengolan Anilkumar |
Member and Independent Director |
5 |
3. |
Bavaraparambil Abdhulkader Hydrose |
Member and NonExecutive Director |
5 |
Stakeholders Relationship Committee:
The Company has a Stakeholder Relationship Committee of Directors in compliance with
provisions of the Companies Act, 2013 to look into the redressal of complaints of
investors such as transfer or credit of shares, non-receipt of dividend/notices /annual
reports, etc.
During the Financial Year under review meeting of Stakeholders Relationship Committee
were convened and held. The dates on which the said meetings were held:
31st August 2023
31st March 2023
S. No |
Name of the Members |
Designation |
No. of Stakeholders Relationship Committee Meetings attended during the
year |
1. |
Bengolan Anilkumar |
Chairman and Independent Director |
2 |
2. |
Faizal Bavaraparambil Abdul Khader |
Member and Independent Director |
2 |
3. |
Bavaraparambil Abdhulkadher Hydrose |
Member and NonExecutive Director |
2 |
12. MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION OF THE COMPANY:
There is no material changes and commitment affecting financial position of the Company
occurred between the end of the financial year of the company to which the financial
statements relate and the date of the report;
13. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE U/S 186 OF THE COMPANIES
ACT, 2013:
Particulars of loan given, investment made, guarantees given and security provided
under section 186 of the Companies Act, 2013, if any, are provided in the notes of
financial statement.
13. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
According to Section 134(5) (e) of the Companies Act, 2013, the term "Internal
Financial Control (IFC)" means the policies and procedures adopted by the Company for
ensuring the orderly and efficient conduct of its business, including adherence to the
company's policies, safeguarding of its assets, prevention and detection of frauds and
errors, accuracy and completeness of the accounting records and timely preparation of
reliable financial information. The company has a well-placed, proper and adequate
Internal Financial Control System which ensures that all the assets are safeguarded and
protected and that the transactions are authorized recorded and reported correctly. To
further strengthen the internal control process, the company has developed the very
comprehensive compliance management tool to drill down the responsibility of the
compliance from the top management to executive level.
The compliance relating to Internal Financial controls have been duly certified by the
statutory auditors.
14. CORPORATE SOCIAL RESPONSIBILITY:
Provisions of Corporate Social Responsibility are not applicable on the Company.
Therefore, Company has not developed and implemented any Corporate Social Responsibility
Initiatives as provisions of Section 135(1) of the Companies Act, 2013 read with Companies
(Corporate Social Responsibility Policy) Rules, 2014.
15. CORPORATE GOVERNANCE:
Provisions of Para C, D and E of Schedule V of the SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015 are not applicable to your Company. Hence,
report on Corporate Governance is not annexed.
16. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
The particulars as prescribed under sub-section (3)(m) of Section 134 of the Companies
Act, 2014 read with Rule 8(3) of Companies (Accounts) Rules, 2014 are annexed herewith at
"Annexure-I".
17. BOARD 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
(Listing Obligations and Disclosure Requirements) Regulations 2015 ("SEBI Listing
Regulations").
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 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. Performance evaluation of independent directors
was done by the entire board, excluding the independent director being evaluated.
The Board evaluated the performance of Independent Directors and Individual Directors
considering various parameters such as their familiarity with the Company's vision,
policies, values, code of conduct, their attendance at Board and Committee Meetings,
whether they participate in the meetings constructively by providing inputs and provide
suggestions to the Management/Board in areas of domain expertise , whether they seek
clarifications by raising appropriate issues on the presentations made by the
Management/reports placed before the Board, practice confidentiality, etc. It was observed
that the Directors discharged their responsibilities in an effective manner. The Directors
possess integrity, expertise and experience in their respective fields.
20. STATEMENT SHOWING THE NAMES OF THE TOP TEN EMPLOYEES IN TERMS OF REMUNERATION
DRAWN AND THE NAME OF EVERY EMPLOYEE AS PER RULE 5(2) & (3) OF THE COMPANIES
(APPOINTMENT & REMUNERATION) RULES, 2014:
Disclosure pertaining to remuneration and other details as required under Section 197
of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 is given in "Annexure-II" to
this Report.
The Statement containing the particulars of employees as required under section 197(12)
of the Companies Act, 2013 read with rule 5(2) and other applicable rules (if any) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided
in a separate annexure forming part of this report.
21. POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION AND OTHER DETAILS:
The Nomination & Remuneration Committee of Directors have approved a Policy for
Selection, Appointment, Remuneration and determine Directors' Independence of Directors
which inter-alia requires that composition of remuneration is reasonable and sufficient to
attract, retain and motivate Directors, KMP and senior management employees and the
Directors appointed shall be of high integrity with relevant expertise and experience so
as to have diverse Board and the Policy also lays down the positive attributes/criteria
while recommending the candidature for the appointment as Director. Nomination &
Remuneration Policy is uploaded on the website of the Company i.e. at www.sssinfo.in
RISK MANAGEMENT:
The Company is taking every care for minimizing the risk involved in the manufacturing
process of the unit, business of dealers and agents and Investment Business. Our Company
believes that managing helps in maximizing returns. Responsible staff is employed to take
every care to minimize the risk factor in the factory. Our company does not have any
separate Risk Management Policy as the unit run by it is small in size and the elements of
risk threatening the company's existence is almost negligible.
20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:
During the year, there is no transaction entered with related parties referred to in
Section 188(1) of the Companies Act, 2013 read with Rule 8(2) of Companies (Accounts)
Rules, 2014. Therefor there is no requirement to attached Form AOC-2 in Annexure -III
Related party transactions if any, are disclosed in the notes to financial statements.
21. NO FRAUDS REPORTED BY STATUTORY AUDITORS
During the Financial Year 2022-23, the Auditors have not reported any matter under
section 143(12) of the Companies Act, 2013, therefore no detail is required to be
disclosed under section 134(3) (ca) of the Companies Act, 2013.
22. SUBSIDIARIES. TOINT VENTURES AND ASSOCIATE COMPANIES:
During the reporting period, the Company does not have any Subsidiary, Joint Venture or
Associate Company hence provisions of Section 129(3) of the Companies Act, 2013 relating
to preparation of consolidated financial statements are not applicable.
23. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to Section 177(9) and (10) of the Companies Act, 2013, and Regulation 22 of
the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, the Company has
formulated Whistle Blower Policy for vigil mechanism of Directors and employees to report
to the management about the unethical behavior, fraud or violation of Company's code of
conduct. The mechanism provides for adequate safeguards against victimization of employees
and Directors who use such mechanism and makes provision for direct access to the chairman
of the Audit Committee in exceptional cases.
24. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:
During the reporting period, no material orders have been passed by the regulators or
courts or tribunals impacting the going concern status and company's operations in future.
25. DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Section 134 (5) of the Companies Act, 2013, with
respect to Directors Responsibilities Statement, it is hereby confirmed:
(a) That in the preparation of the annual accounts for the financial year ended , 31st
March,2023 the applicable accounting standards had been followed along with proper
explanation relating to material departures;
(b) That the directors had selected such accounting policies and applied them
consistently and made judgments and estimates that were reasonable and prudent so as to
give a true and fair view of the state of affairs of the company at the end of the
financial year and of the profit or loss of the company for the year review;
(c) That the directors had taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of Companies Act, 2013 for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
(d) Thdt the directors had prepared the annual accounts for the financial year ended 31st
March,2023 on a going concern basis;
(e) That the directors had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively and
(f) That the directors had devised proper system to ensure compliance with the
provisions of all applicable laws and that such system were adequate and operating
effectively.
26. AUDITORS & AUDITOR'S REPORT:
Statutory Auditor
The Auditor's Report for financial year ended March 31, 2023, does not contain any
qualification, reservation or adverse remarks. All Observations made in the Independent
Auditors' Report and Note's forming part of the Financial Statements are self-explanatory
and do not call for any further comments and also, there is no incident of fraud requiring
reporting by the auditors under section 143(12) of the Companies Act, 2013 during the
year. The Auditor's report is enclosed with the financial statements in this Auditor's
Report.
Secretarial Auditor
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s Vikas Verma & Associates, Practicing Company Secretaries, to undertake
the secretarial audit of the Company for the Financial Year 2022-2023.
The Secretarial Audit Report for tire financial year ended 31st March, 2023 does not
contain any qualification, reservation or adverse remark. A copy of the Secretarial Audit
Report (Form MR-3) as provided by the Company Secretary in Practice has been annexed to
the Report. (Annexure-IV)
Cost Auditor
Pursuant to Section 148 of the Companies Act, 2013 maintenance of cost accounts and
requirement of cost audit is not applicable.
Internal Auditor
The Company has complied with the requirement of the Section 138 of the Companies Act,
2013 read with Rule 13 of the Companies (Accounts) Rules, 2014, and other applicable
provisions of the Act.
27. SECRETARIAL STANDARDS
Pursuant to the provisions of Section 118 of tire Companies Act, 2013, the Company has
complied with the applicable provisions of the Secretarial Standards issued by the
Institute of Company Secretaries of India and notified by Ministry of Corporate Affairs.
28. ANNUAL RETURN
As required pursuant to section 92(3) of tire Companies Act, 2013 and rule 12(1) of the
Companies (Management and Administration) Rules, 2014, an annual return is uploaded on
website of the Company www.sssinfo.in
29. FAMILIARISATION PROGRAMMES
The Company familiarises its Independent Directors on their appointment as such on the
Board with the Company, their roles, rights, responsibilities in the Company, nature of
the industry in which the Company operates, etc. through familiarisation programme. The
Company also conducts orientation programme upon induction of new Directors, as well as
other initiatives to update the Directors on a continuing basis. The familiarisation
programme for Independent Directors is disclosed on the Company's website www.sssinfo.in.
30. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
The Management's Discussion and Analysis Report for the year under review, as
stipulated under regulation 34 (3) and Part B of schedule V of the SEBI (Listing
Obligation and Disclosure Requirement) Regulation, 2015 is annexed to this Annual Report
as "Annexure - V".
31. CODE OF CONDUCT:
Commitment to ethical professional conduct is a must for every employee, including
Board Members and Senior Management Personnel of the Company. The Code is intended to
serve as a basis for ethical decision-making in conduct of professional work. The Code of
Conduct enjoins that each individual in the organization must know and respect existing
laws, accept and provide appropriate professional views, and be upright in his conduct and
observe corporate discipline. The duties of Directors including duties as an Independent
Director as laid down in the Companies Act, 2013 also forms part of the Code of Conduct.
All Board Members and Senior Management Personnel affirm compliance with the Code of
Conduct annually.
32. INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT, 2013:
The Company has zero tolerance towards sexual harassment at the workplace and towards
this end, has adopted a policy in line with the provisions of Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under.
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 which redresses complaints received on sexual
harassment. During the financial year under review, the Company has not received any
complaints of sexual harassment from any of the women employees of the Company.
36. DETAILS OF APPLICATION MADE OR ANY PROCEEDINGS FENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE
FINANCIAL YEAR:
During the reporting period, no application made or any proceeding is pending under Lhe
Insolvency and Bankruptcy Code, 2016 (31 of 2016).
37. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT
THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS
OR FINANCIAL INSTITUTIONS ALONG WITH REASONS THEREOF:
During the reporting period, no such valuation has been conducted in the financial
year.
38. STATEMENT ON OTHER COMPLIANCES
Your Directors state that no disclosure or reporting is required in respec t of the
following items as there were no transactions on these items during the reporting period:
a. Details relating to deposits covered under Chapter V of the Act.
b. Issue of equity shares with differential voting rights as to dividend, voting or
otherwise;
c. Issue of shares (including sweat equity shares) to employees of the Company.
d. Neither the Managing Director nor any of the Whole-time Direc tors of the Company
receive any remuneration or commission.;
39. WEBSITE OF THE COMPANY:
Your Company maintains a website unciv.sssinfo.in where detailed
information of the Company and specified details in terms of the Companies Act, 2013 and
SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 have been
provided.
40. PREVENTION OF INSIDER TRADING:
The Company has a Code of Conduct for Prevention of Insider Trading with a view to
regulate trading in securities by the Directors and certain designated employees of the
Company. The Code requires preclearance for dealing in the Company's shares and prohibits
the purchase or sale of Company shares by the Directors and designated employees while in
possession of unpublished price sensitive information in relation to the Company and
during the period when the trading window is closed. Tire Board is responsible for
implementation of the Code. All Board Directors and the designated employees have
confirmed compliance with the Code.
ACKNOWLEDGEMENT:
The Directors regret the loss of life are deeply grateful and have immense respect for
every person. The Direc tors wish to convey their appreciation to all of the Company's
employees for their contribution towards the Company's performance. The Directors would
also like to thank the shareholders, employee unions, customers, dealers, suppliers,
bankers, governments and all other business associates for their continuous support to the
Company and their confidence in its management.
Date: 21/08/2023 |
For & on behalf of the Board |
Place: Emakulam |
Safa Systems & Technologies Limited |
Sd/- |
Sd/- |
Faizal Bavaraparambil Abdul Khader |
Sruthi Muhammed Ali |
Managing Director DIN: 07729191 |
Wholetime Director DIN: 09237016 |