The Board of Directors takes great pleasure in presenting the Thirty Five (35th) Annual Report of your Company's business and
operations along with the Audited Financial Statements for the Financial Year ('FY') ended March 31, 2025.
FINANCIAL PERFORMANCE
The Company's financial performance, for the Financial Year ended March 31, 2025 on standalone basis is summarized below:
(INR in lakhs)
|
For the Year ended
|
|
Particular
|
March 31, 2025
|
March 31, 2024
|
|
Income:
|
|
|
|
Income from Operations
|
9,664.05
|
8,385.86
|
|
Other Income
|
237.95
|
126.84
|
|
Total Income
|
9,902.00
|
8,512.70
|
|
Expenditure:
|
|
|
|
Less: Operating & Other Expenses
|
59,67.66
|
4,870.31
|
|
Profit before Depreciation, Finance Costs and Tax
|
3,934.34
|
3,642.39
|
|
Less: Depreciation
|
2,608.23
|
2,522.40
|
|
Less: Finance Costs
|
886.59
|
749.00
|
|
Profit before Tax
|
439.52
|
370.98
|
|
Less: Provision for Taxes
|
(19.93)
|
(193.70)
|
|
Profit after Tax
|
459.46
|
564.68
|
|
Less: Other Comprehensive Income for the year (net of tax)
|
(6.29)
|
(0.07)
|
|
Total Comprehensive Income for the year
|
453.16
|
564.61
|
|
Add: Surplus brought forward from the previous year
|
10,320.52
|
9,755.92
|
|
Less: Prior period item
|
-
|
-
|
|
Amount available for appropriation
|
10,773.68
|
10,320.53
|
|
Appropriations:
|
|
|
|
Dividend
|
-
|
-
|
|
Tax on Dividend
|
-
|
-
|
|
Amount transferred to General Reserve
|
-
|
-
|
|
Surplus carried forward
|
10,773.68
|
10,320.53
|
OPERATIONS/ STATE OF COMPANY'S AFFAIRS
The Company achieved a total income of Rs. 9,902.00 lakhs as compared to Rs. 8,512.70 lakhs in the previous year.
Company reported a Profit before tax of Rs. 439.52 lakhs as compared to Profit before tax of Rs 370.98 lakhs in the prior year. This
change in the profit/loss was on account of an increase in business volumes. The Company witnessed robust growth in volumes and
rates across many of its brands with increase in margins.
DIVIDEND
Your Company is in regular expansion mode and also upgrading its existing properties. Therefore in order to fund new projects/
up gradation and conserve the resource, the Board has not recommended dividend on equity shares of the Company for the FY
2024-2025.
TRANSFER TO RESERVES
The Board of Directors of your company has decided not to transfer any amount to the Reserves for the year under review.
MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis as required in terms of the SEBI Listing Regulations is annexed to the report (Annexure I)
MATERIAL CHANGES AFFECTING THE COMPANY
I. ISSUE OF EQUITY SHARES UNDER PREFERENTIAL ISSUE
The Board at its meeting held on November 08, 2023, had recommended the issue of 1,25,00,000 (One Crores Twenty Five
Lakhs) Fully Convertible Warrants ("Warrants"), each convertible into equivalent number of fully paid up equity share of the
Company of face value of Rs. 10/- (Rupee Ten Only) each at a Premium of Rs 35/- (Rupees Thirty Five), within a maximum period
of 18 months from the date of allotment of warrants), to the Promoter/Non- Promoter Group, the same was approved by the
Members at the Extraordinary General Meeting of the Company held on December 07 2023.
On January 04, 2024, the company has allotted 123,00,000 warrants convertible into equivalent number of equity shares of
the Company having a face value of Rs. 10/- at a price of Rs. 45/- each to promoters and non-promoters entity upon receipt of
upfront amount of Rs. 13,83,75,000/-, which is equivalent to 25% of total consideration as per the terms of preferential issue.
Out of these, the Securities Allotment Committee of the Company, at its meeting held on March 01, 2024 has allotted 68,00,000
Equity shares pursuant to conversion of 68,00,000 Warrants upon receipt of an amount aggregating to Rs. 22,95,00,000/- which
is equal to 75% of the total consideration.
During the financial year 2024-2025 on July 11 2024 the Company allotted 53,81,500 Equity shares on preferential basis
consequent to the conversion of warrants into equivalent Equity Shares.
The new equity shares so allotted, shall rank pari passu with the existing equity shares of the Company.
Further the conversion of 1,18,500 warrants were still pending for conversion and the last date of conversion was 04th July
2025, however the shareholder did not get these warrants converted, so the company forfeited the warrants as per applicable
provisions.
Accordingly, the paid-up share capital of the Company has increased as follows:
|
Pre Allotment
|
Post Allotment
|
|
Rs. 46,89,78,000 consisting of 4,68,97,800
equity shares of face value of Rs.10 each fully paid.
|
Rs. 52,27,93,000 consisting of 5,22,79,300
equity shares of face value of Rs.10 each fully paid.
|
The Listing Approval for 5,38,15,000 Equity Shares were granted on November 04, 2024 and the 5,38,15,000 allotted as Equity
Shares are admitted to dealings on the exchange from November 26, 2024.
SHARE CAPITAL
I. AUTHORISED CAPITAL
The Authorised Capital of the Company is Rs. 53,40,00,000 consisting of 5,34,00,000 equity shares of face value of Rs.10 each
fully paid.
II. PAIDUP CAPITAL
During the Year FY 2024-25, the Issued, Subscribed & Paid up Capital of the Company of the Company was increased pursuant
to allotment of Equity Shares on Preferential Issue.
The Details of Change in Capital Structure during the Year are as follows:
Details of Equity Share Capital of M/s. The Byke Hospitality Limited: ISIN No: INE319B01014
|
Sr.
No.
|
Particulars
|
Date of
Allotment
|
Number
of Shares
Allotted
|
Cumulative
Total
|
Nominal Capital bearing
face value of Rs. 10/- each
(Cumulative Total)
|
|
1.
|
Equity Shares at the beginning of the
Year
|
-
|
-
|
4,68,97,800
|
46,89,78,000
|
|
2.
|
Allotment of Equity Shares pursuant to
conversion of warrants into equivalent
equity shares
|
July 11, 2024
|
53,81,500
|
5,22,79,300
|
52,27,93,000
|
The conversion of 1,18,500 warrants were still pending for conversion and the last date of conversion was 04th July 2025, however
the shareholder did not get these warrants converted, so the company forfeited the warrants as per applicable provisions.
As on March 31, 2025 the Total Issued, Subscribed & Paid up Capital of the Company stand at Rs. Rs. 52,27,93,000 consisting of
5,22,79,300 equity shares of face value of Rs.10 each fully paid.
LISTING ON STOCK EXCHANGES
As on March 31, 2025, the Company's Equity Shares are listed on BSE Limited, the National Stock Exchange of India Limited and
Metropolitan Stock Exchange of India Limited.
EXTRACT OF ANNUAL RETURN
As provided under section 92(3) and 134(3)(a) of the Act, read with Rule 12 of the Companies (Management and Administration)
Rules, 2014, as amended from time to time, the Annual Return of your Company in Form MGT - 7 for the Financial Year 2024 - 2025,
shall be hosted on the website of your Company at www.thebyke.com
CEO / CFO CERTFICATIONS
The Certifications required in terms of Part B, Schedule II of the Listing Regulations, from Mr. Anil Chothmal Patodia, the Managing
Director of the Company and Mr. Girdhari Kyal, Chief Financial Officer of the Company, for the Financial Year 2024 -2025 forms part
of the Report on Corporate Governance.
CORPORATE GOVERNANCE
As per the requirement of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has complied
with the requirements of Corporate Governance in all material aspects.
A report on Corporate Governance (Annexure II) together with a certificate of its compliance from a Ms. Suman Sureka of M/s.
Suman Sureka & Assocaites, Secretarial Auditor of the company forms part of this report.
INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
Pursuant to applicable provision of the Companies Act, 2013 read with the IEPF Authority (Accounting, Audit, Transfer and Refund)
Rule, 2016 ('the Rules'), all unpaid or unclaimed dividend are required to be transferred by the company to the IEPF established by
the Central Government, after the completion of seven years. Further, according to IEPF Rules, all the shares in respect of which
dividend has remained unclaimed for seven consecutive years or more from the date of transfer to unpaid dividend account shall
also be transferred to IEPF Authority.
The details of the unpaid / unclaimed dividends for the last seven financial years are available on the website of the Company www.
thebyke.com
DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)
Brief Profile of the Board of Directors of the Company as on March 31, 2025 & as on the date of the report:
|
Sr.
No.
|
Name
|
Profile
|
|
1.
|
Mr. Anil Chothmal Patodia
(DIN: 00073993)
(Managing Director)
|
Mr. Anil Chothmal Patodia is a commerce graduate with more than 23 years of
experience in the hospitality and service industries, he assumed the role of
Managing Director in 2010. He developed value-adding methods to establish the
Company as a leader in its field by drawing on his extensive experience managing
sustainable businesses. Currently he is the Director of the Lions Club of Mumbai
Heritage Galaxy.
|
|
2.
|
Mr. Pramod Kumar Patodia
(DIN: 03503728)
(Exceutive Director)
|
By banking on his hospitality industry experience of more than 23 years in the
field of management and administration, Mr. Pramod Kumar Patodia helped the
Company climb new heights. He oversees all the hotel operations of the Company.
|
|
3.
|
Mrs. Archana Anil Patodia
(DIN: 00795826)
(Non - Executive - Non Independent
Director)
|
Mrs. Archana Anil Patodia has completed her BA from the University of Rajasthan,
she aggregated rich experience in managerial and administrative functions. She
is also the Director of Lions Club of Mumbai Heritage Galaxy. She is also the DC
Village Development of Lions Club International. (Dist.3231A3).
|
|
4.
|
Ms. Madhuri Rajendrakumar Dhanak
(DIN: 09065395)
(Independent Director)
|
She is a highly qualified Chartered Accountant and Company Secretary with a
robust professional background. She is an active member of the Western India
Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI).
She has demonstrated her expertise in various roles, including serving as an Internal
Auditor, head of Tax Department in various listed entities. Her commitment to
community service is reflected in her past involvement with the Lions Club.
|
|
5.
|
Mr. Brijmohan Pooranmal Agarwal
(DIN: 00529136)
(Independent Director)
|
Mr. Brijmohan Pooranmal Agarwal is a distinguished Chartered Accountant
with extensive experience in taxation and audit since 1981, has been a partner
at Borkar & Muzumdar, Mumbai since 1987. With a distinguished career that
includes audits for major national and foreign banks, as well as leadership roles in
various professional organizations, he currently serves as an independent director
at Equity Link Research (I) Ltd. other than The Byke Hospitality Limited.
|
|
6.
|
Mr. Sobhag Jain
(DIN: 08770020)
(Independent Director)
|
Mr. Sobhag Jain is an accomplished Chartered Accountant with over 38 years of
experience in finance, taxation, and corporate governance. He has held prominent
positions in LIC, including Executive Director of Finance & Accounts and Taxation.
His extensive career includes significant contributions as Chief Risk Officer,
where he made strategic decisions to safeguard pension funds, and as a mentor
in marketing, guiding several divisions to success. Additionally, he has been an
influential member of various advisory and supervisory boards in the healthcare
and biotechnology sectors.
|
CHANGE IN DIRECTORSIP DURING THE YEAR
During the year under review Mr. Sobhag Jain (DIN: 08770020) and Mr. Brijmohan Pooranmal Agarwal (DIN: 00529136) were
appointed as Additional Non Executive - Independent Director of the Company with effect from February 07, 2024, their appointment
as "Independent Directors" was approved by the Shareholders vide Post Ballot Notice dated April 24, 2024.
INDEPENDENT DIRECTOR'S DECLARATION
The Independent Directors have submitted a declaration of independence, stating that they meet the criteria of independence
provided under section 149(6) of the Act & regulation 16(1)(b) of the Listing regulations. There has been no change in the
circumstances affecting their status as an independent Director.
In terms of Regulation 25(8) of the Listing Regulations, the Independent Directors have confirmed that they are not aware of any
circumstances situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge their
duties.
None of the directors of the Company are debarred from holding the office of Director by virtue of any SEBI order or order by any
other competent authority.
In the opinion of the Board, there has not been any change in the circumstances which may affect their status as Independent
Directors of the Company and to the satisfaction of the Board
their candidature holds experience, expertise & integrity
KEY MANAGERIAL PERSONNEL
As on date under report, the following persons are the Key Managerial Personnel in terms of Section 203 of the Act:
1. Mr. Anil Chothmal Patodia - Managing Director
2. Mr. Girdhari Kyal - Chief Financial Officer
3. Ms. Puja Sharma - Company Secretary & Compliance Officer (upto 17th June 2025)
4. Ms. Ritika Jaiswal - Company Secretary & Compliance Officer (w.e.f 07th August, 2025)
POLICY ON DIRECTORS' APPOINTMENT, REMUNERATION AND OTHER DETAILS
The Nomination and Remuneration Committee has laid down the criteria for Directors' appointment and remuneration including
criteria for determining qualifications, positive attributes and independence of a Director. The following attributes/criteria for
selection have been laid by the Board on the recommendation of the Committee:
• The candidate should possess the positive attributes such as leadership, entrepreneurship, industrialist, business advisor or
such other attributes which in the opinion of the Committee the candidate possess and are in the interest of the Company;
• The candidate should be free from any disqualifications as provided under Sections 164 and 167 of the Companies Act, 2013;
• The candidate should meet the conditions of being independent as stipulated under the Companies Act, 2013 and SEBI (LODR)
Regulations, 2015 in case of appointment as an Independent Director; and
• The candidate should possess appropriate educational qualification, skills, experience and knowledge in one or more fields
of finance, law, management, sales, marketing, administration, research, corporate governance, technical operations,
infrastructure, social service, professional teaching or such other areas or disciplines which are relevant for the Company's
business.
PROFICIENCY OF DIRECTORS
All the Independent Directors of the Company have registered their names in the database maintained by the Indian Institute
of Corporate Affairs, Manesar. Those Independent Directors who are not otherwise exempted should appear for the common
proficiency test conducted by the said institute within the prescribed time.
MEETINGS OF BOARD AND COMMITTEES THEREOF
This information has been furnished under Report on Corporate Governance, which is annexed in Annexure II.
FAMILIARISATION PROGRAMME FOR DIRECTORS
Details of the familiarization programs for independent directors are disclosed on the website of the Company www.thebyke.com
BOARD EVALUATION
The Nomination and Remuneration Committee lays down the criteria for performance evaluation of independent directors,
Board of Directors and Committees of the Board. The criteria for performance evaluation is based on the various parameters like
attendance and participation at meetings of the Board and Committees thereof, contribution to strategic decision making, review
of risk assessment and risk mitigation, review of financial statements, business performance and contribution to the enhancement
of brand image of the Company.
The Board of Directors have carried out an annual evaluation of their own performance, board committees and individual directors
pursuant to provision of the Act and the corporate governance requirement as prescribed by the Securities and Exchange Board of
India (Listing Obligation & Disclosure Requirement) Regulation 2015.
In a separate meeting of Independent directors which was held on May 28, 2025 performance of non- independent directors and
the board as whole was evaluated. Performance evaluation of Independent director was done by the entire board, excluding the
independent director being evaluated.
PARTICULARS OF EMPLOYEES
The information required under section 197 of Companies act 2013 read with Companies (Appointment and Remuneration of
Managerial Personnel) Rule, 2014 forms part of this Annual Report. However this information is not sent along with this report
pursuant to provision of section 136 of the Act. Any shareholder interested in obtaining a copy of the same may write to the
Company Secretary / Compliance Officer at the registered office of the Company.
AUDIT COMMITTEE
Details of the Audit Committee along with its constitution and other details are provided in the Report on Corporate Governance.
RELATED PARTY TRANSACTION
All Related Party Transactions that were entered into during the financial year were on arm's length basis and were in the ordinary
course of the Company's Business.
The Company has not entered into any contract, arrangement or transaction with any related party which could be considered as
material as defined under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Omnibus approval was also
obtained from the Audit Committee on an annual basis for repetitive transactions.
Company has formulated policy on materiality of Related Party Transaction. The policy is available on the Company's website http://
thebyke.com/corporate-governance/
The details of the transactions with related parties during FY 2024-25 are provided in the accompanying financial statements. The
details of Related Party transactions are set out in notes to the Financial Statements. Since all related party transaction entered into
by the company were on an arm's length basis and in the ordinary course of business, Form AOC-2 is not applicable.
WHISTLE BLOWER POLICY/VIGIL MECHANISM
The Board of Directors of your Company has adopted the Vigil Mechanism and Whistle Blower Policy in compliance with Section
177(9) and (10) of the Companies Act, 2013, and regulations specified under LODR.
The Company has adopted a channel for receiving and redressing of employees' complaints and no personnel have been denied
access to the Chairman of the Audit Committee. Under this policy, we encourage our employees to report any reporting of fraudulent
financial or other information to the stakeholders, any conduct that results in violation of the Company's Code of Business Conduct.
Likewise, under this policy, we have prohibited discrimination, retaliation or harassment of any kind against any employees who,
based on the employee's reasonable belief that such conduct or practice have occurred or are occurring. The policy is posted on the
company's website at www.thebyke.com.
CORPORATE SOCIAL RESPONSIBILITY
The Company is committed to good corporate citizenship. As a part of its corporate social responsibility, the Company continues
to undertake a range of activities including healthcare and education to improve living conditions of the needy people. The CSR
policy of the Company is placed on the website of the Company https://thebyke.com/corporategovernance.html. During the year
under report, the Company has also supported healthcare and educational projects undertaken by charitable institutions and
organizations. In accordance with the provisions of Section 135 of the Companies Act, 2013, an abstract on Company's CSR activities
is furnished as Annexure III to this report.
CODE OF CONDUCT
The Board has laid down a code of conduct for board members and senior management personnel of the Company. The code
incorporates the duties of independent directors as laid down in the Companies Act, 2013. The said code of conduct is posted on
Company's website www.thebyke.com. The Board members and senior management personnel have affirmed compliance with
the said code of conduct. A declaration in this regard signed by the Chairman & Managing Director / CEO is given at the end of the
Corporate Governance Report.
SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES
There is no subsidiary company, associate company or joint venture of your company within the meaning of section 2(87) & 2(6) of
the Companies Act 2013 respectively.
STATUTORY AUDITOR AND STATUTORY AUDITOR'S REPORT
M/s. Bilimoria Mehta & Co., Chartered Accountant (Firm registration no: 101490W) were appointed as the Statutory Auditors from
the conclusion of the Thirty Second Annual General Meeting held on September 15, 2022 till conclusion of the Thirty Seventh
Annual General Meeting of the Company to be held in 2027-28.
The Auditors' Report read with the notes to the accounts referred to therein are self-explanatory and therefore, do not call for any
further comments. There are no qualifications, reservations or adverse remarks made by the Auditors.
SECRETARIAL AUDITOR AND SECRETARIAL AUDITOR'S REPORT
Pursuant to the provision of section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of
Managerial Personnel) Rule, 2014, M/s. Suman Sureka & Associates, Practicing Company Secretary FCS No.- 6842 CP No- 4892 were
appointed as the Secretarial Auditor for auditing the secretarial records maintained by the Company for the financial year 2024-25.
The Secretarial Auditors' Report is annexed as (Annexure IV) hereto.
Pursuant to the amended provisions of Regulation 24A of the Listing Regulations and Section 204 of the Act, read with Rule 9 of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, ("the Rules") the Audit Committee and the
Board of Directors have approved and recommended the appointment of M/s. Suman Sureka & Associates, a Peer Reviewed Firm of
Company Secretaries in Practice as Secretarial Auditors of the Company, for a term of upto 5 (Five) consecutive years from financial
year 2025-2026 to financial year 2029-2030, subject to approval of the Members at ensuing AGM. A brief resume and other details
of M/s. Suman Sureka & Associates, Company Secretaries in Practice, are separately disclosed in the Notice of the ensuing AGM.
M/s. Suman Sureka & Associates have given their consent to act as Secretarial Auditors of the Company and confirmed that their
aforesaid appointment (if made) would be within the prescribed limits under the Act & the Rules made thereunder and the Listing
Regulations. They have also confirmed that they are not disqualified to be appointed as Secretarial Auditors in terms of provisions
of the Act & Rules made thereunder and Listing Regulations and satisfy the prescribed eligibility criteria.
COST AUDITORS
The Company does not fall within the purview of section 148 of the Companies Act, 2013 and hence, it is not required to appoint a
cost auditor for the financial year 2024-2025.
DISCLOSURES AS MAINTENANCE OF COST RECORDS UNDER SUB-SECTION (1) OF SECTION 148 OF THE COMPANIES ACT,
2013
The provisions of section 148 are not applicable to the Company and accordingly the maintenance of cost records as specified by
the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is not required.
INTERNAL AUDITOR
M/s. P. P. KAPOOR & CO., Chartered Accountants, Internal Auditors of the Company, conducted the Internal Audit for the financial
year 2024-25 as per the provisions of Section 138 of the Act read with Rule 13 of the Companies (Accounts) Rules, 2014. Their
reports were reviewed by the Audit Committee and follow up measures were taken by the relevant teams and committees of the
Board, wherever necessary.
FRAUD'S REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE REPORT TABLE TO THE CENTRAL GOVERNMENT U/S
143 (12)
There were no frauds reported by the auditors under section 143(12) of Companies Act, 2013 during their course of audit for the
financial year 2024-2025.
RISK MANAGEMENT POLICY
The Company has established an effective Compliance Mechanism to mitigate the risk and will be reviewed by the Board periodically.
The Company has adopted Risk Management Policy, pursuant to the provision of Section 134 of the Act, to identify and evaluate
business risks and approach for mitigation of such risks.
PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS
The Company has not given any loans or guarantees or made investments in contravention of the provisions of the Section 186 of
the Companies Act, 2013. The details of the loans and guarantees given and investments made by the Company are provided in
the notes to the financial statements.
DEPOSITS
The Company has not accepted any deposits from public during the year under the review and as such, no amount on account of
principal or interest on deposit from public was outstanding as on the date of the balance sheet.
INTERNAL CONTROL SYSTEM AND COMPLIANCE FRAMEWORK
The Company has adopted the policies and procedures for ensuring the orderly and efficient conduct of its business, including
adherence to the company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records and the timely preparation of reliable financial disclosures.
PREVENTION OF INSIDER TRADING
The Board has adopted a Code of Prevention of Insider Trading based on the SEBI (Prohibition of Insider Trading) Regulations, 2015.
The same has been placed on the website of the Company www.thebyke.com
All the Directors, senior management employees and other employees who have access to the unpublished price sensitive
information of the Company are governed by this code. During the year under Report, there has been due compliance with the said
code of conduct for prevention of insider trading.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
In accordance with the requirements of Section 134 of the Companies Act, 2013, statement showing particulars with respect to
conservation of energy, technology absorption and foreign exchange earnings and outgo is furnished as Annexure V to this report.
PAYMENT OF LISTING FEE AND CUSTODIAL FEE
Your Company has paid the Annual Listing Fee and Annual Custodial Fee for the Financial Year 2024 - 2025, to the National Stock
Exchange ("NSE"), Metropolitan Stock Exchange (MSEI) and the Bombay Stock Exchange ("BSE") and to National Securities and
Depositories Limited (NSDL) and Central Depository Services (India) Limited (CDSL) respectively.
DEMATERIALISATION
The Company's shares are available for dematerialization with both the Depositories viz., NSDL and CDSL. About 99.91% of the paid-
up equity share capital of the Company has been dematerialized as on March 31, 2025.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant material order passed by the Regulators or court or tribunal that would impact the going concern status of
the Company and its operation in future.
GREEN INITIATIVES
The Company, in order to promote green initiative, has sent electronic copies of the Annual Report for Financial Year 2024 - 2025,
along with the Notice of the 35th Annual General Meeting, are sent to all members whose email addresses are registered with the
Company / Registrar and Share Transfer Agent ("RTA").
DISCLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013:
The Company has zero tolerance for sexual harassment at its workplace and in line with the provisions of the Sexual Harassment
of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under, your Board of Directors has
approved and adopted a "Policy on Prevention of Sexual Harassment at Workplace" to provide equal employment opportunity and
is committed to provide a work environment that ensures every woman employee is treated with dignity and respect and afforded
equitable treatment.
During the year under review the Company has received no complaints. Following is the detailed presentation of the same:
a) Number of complaints filed during the financial Year : NIL
b) Number of complaints disposed of during the year: NIL
c) Number of complaints pending as on end of the financial year: NIL
Internal Complaints Committee
In compliance with Section 4 of The Sexual Harassment of Women at Workplace (Prevention, Prohibition And Redressal) Act, 2013
the Company has constituted an Internal Complaints Committee. Following are the details of the committee constituted w.e.f
01.08.2021:
|
Sr. No.
|
Name of Committee Members
|
Designation
|
|
1.
|
Mrs. Archana Patodia - Presiding Officer
|
Director
|
|
2.
|
Mrs. Shivali Sharma - Member
|
Sales Manager - Goa
|
|
3.
|
Mrs. Lavina Sankla
|
Resident Manager - Matheran
|
|
4.
|
Mrs. Vinita Kulhari - Member
|
Director in Lions Club Heritage Galaxy
|
|
5.
|
Mr. Ashwin Piwal
|
Head - HR
|
DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND BANKRUPTACY CODE 2016
During the financial year under review, there were NO application/s made or proceeding were pending in the name of the company
under the Insolvency and Bankruptcy Code, 2016.
DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING
LOAN FROM BANKS AND FINANCIAL INSTITUTIONS
During the Financial year under review, there were NO one time settlement of Loans taken from Banks and Financial institutions
MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT ACT 1961.
The Company declares that it has duly complied with the provisions of the Maternity Benefit Act, 1961. All eligible women employees
have been extended the statutory benefits prescribed under the Act, including paid maternity leave, continuity of salary and service
during the leave period, and post- maternity support such as nursing breaks and flexible return-to-work options, as applicable. The
Company remains committed to fostering an inclusive and supportive work environment that upholds the rights and welfare of its
women employees in accordance with applicable laws.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of its knowledge and ability confirms that:
a) In the preparation of the Annual Accounts for the year ended March 31, 2025, the applicable accounting standards have been
followed along with proper explanation relating to material departures if any;
b) Such accounting policies have been selected and applied them consistently and made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year
on March 31, 2025.
c) Proper and sufficient care have been taken for the maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of your Company and for preventing and detecting fraud and
other irregularities;
d) The Annual Accounts have been prepared on a going concern basis;
e) Proper internal financial controls were in place and that such internal financial controls are adequate and were operating
effectively; and
f) Proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were
adequate and operating effectively.
SECRETARIAL STANDARDS
The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued
by The Institute of Company Secretaries of India and such systems are adequate and operating effectively.
ACKNOWLEDGEMENTS
Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial
institutions and Central and State Governments for their consistent support and encouragement to the Company. I am sure you will
join our Directors in conveying our sincere appreciation to all employees of the Company for their hard work and commitment. Their
dedication and competence has ensured that the Company continues to be a significant and leading player in the Hospitality Industry.
For and on behalf of the Board of Directors
Sd/- Sd/-
(Anil Chothmal Patodia) (Pramod Kumar Patodia)
Chairman & Managing Director Director
DIN:00073993 DIN:03503728
Place: Mumbai
Date: August 07, 2025
Registered Office:
Sunil Patodia Tower, Plot No: 156-158,
J.B.Nagar, Andheri East, Mumbai 400099
Email Id: investors.care@thebyke.com
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