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Annual Report 2016-17

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Annual Report 2016-17 ANNUAL REPORT 2016-17 Shaping the Nation ANSAL PROPERTIES & INFRASTRUCTURE LIMITED CIN : L45101DL1967PLC004759 Annual Report 2016-17 1 CIN : L45101DL1967PLC004759 Annual Report 2016-17 CONTENTS Page No. Company Information 3 Notice of Annual General Meeting 4-14 Location of Annual General Meeting 15 Directors’ Report 16-50 Corporate Governance Report 51-78 Management Discussion & Analysis 79-90 Auditors’ Report 91-97 Balance Sheet 98 Statement of Profit & Loss Account 99 Cash Flow Statement 100-101 Notes 103-159 Consolidated Accounts 160-233 Financial details of Subsidiary & Joint Venture Companies 234-236 for the year ended 31st March, 2017 as per Section 129 of Companies Act, 2013 and its Rules. Attendance Slip 237 Proxy Form 239 2 CIN : L45101DL1967PLC004759 Annual Report 2016-17 COMPANY INFORMATION BOARD OF DIRECTORS Shri Sushil Ansal Chairman & Whole Time Director Shri Pranav Ansal Vice Chairman & Whole Time Director Shri Anil Kumar Joint Managing Director & Chief Executive Officer Shri D. N. Davar Independent Director Dr. R. C. Vaish Independent Director Dr. Prem Singh Rana Independent Director Dr. Lalit Bhasin Independent Director Shri P. R. Khanna Independent Director Smt. Archana Capoor Independent Director AUDIT COMMITTEE MEMBERS NOMINATION AND REMUNERATION COMMITTEE MEMBERS Shri D. N. Davar Chairman Shri D. N. Davar Chairman Dr. R. C. Vaish Vice Chairman Dr. R. C. Vaish Member Shri P. R. Khanna Member Dr. Prem Singh Rana Member Dr. Prem Singh Rana Member Dr. Lalit Bhasin Member Shri P. R. Khanna Member VICE PRESIDENT (FINANCE & ACCOUNTS) & CFO Shri Sunil Kumar Gupta COMPANY SECRETARY Shri Abdul Sami STATUTORY AUDITORS M/s. S. S. Kothari Mehta & Co. Chartered Accountants New Delhi FINANCIAL INSTITUTIONS / NBFCs Housing Development Finance Corporation Limited CORPORATE IDENTITY NUMBER (CIN) IL&FS Urban Infrastructure Managers Limited L45101DL1967PLC004759 DMI Finance Pvt. Limited HDB Financial Services Limited REGISTERED OFFICE IL&FS Financial Services Limited 115, Ansal Bhawan Xander Finance Private Limited 16, Kasturba Gandhi Marg BANKERS New Delhi - 110 001 Punjab National Bank The Jammu & Kashmir Bank Limited REGISTRAR & SHARE TRANSFER AGENT Yes Bank Limited M/s. Link Intime India Private Limited Allahabad Bank 44, Community Centre, 2nd Floor, Bank of Maharashtra Naraina Industrial Area, Phase I, Bank of India Near PVR Cinema, New Delhi - 110028 Indian Bank Tel. No. 41410592-94 3 CIN : L45101DL1967PLC004759 Annual Report 2016-17 NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the 50th Annual General Meeting of the Members (Shareholders) of the Company will be held on Saturday, the 23rd September, 2017 at 11.00 A.M at Sri Sathya Sai International Centre, Pragati Vihar, Bhism Pitamah Marg (Near ICICI Bank) Lodhi Road, New Delhi- 110003 to transact the following business. ORDINARY BUSINESS: 1. To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) for the Financial Year ended the 31st March, 2017 together with the reports of the Board of Directors and Auditors’ thereon. 2. To appoint a Director in place of Shri Sushil Ansal (DIN: 00002007), who retires by rotation and, being eligible, offers himself for re-appointment. 3. To appoint a Director in place of Shri Pranav Ansal (DIN: 00017804), who retires by rotation and, being eligible, offers himself for re-appointment. 4. To appoint a Director in place of Shri Anil Kumar (DIN: 00002126), who retires by rotation and, being eligible, offers himself for re-appointment. 5. To ratify the appointment of Statutory Auditors of the Company and to fix their remuneration. To consider and, if thought fit, to pass with or without modification(s), the following resolution as anOrdinary Resolution:- “RESOLVED as an Ordinary Resolution that pursuant to the provisions of Sections 139, 142 and all other applicable provisions, if any, of the Companies Act, 2013 (“the Act”), and the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force) and pursuant to an Ordinary Resolution passed by the members at their Annual General Meeting held on the 30th September, 2016, the appointment of M/s S.S. Kothari Mehta & Company, Chartered Accountants (ICAI Firm Registration No. 000756N) as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of the Fifty One AGM of the Company to be held in the year 2018 be and is hereby ratified and the Board of Directors of the Company (Board) be and is hereby also authorized to fix the remuneration including other applicable tax and out-of pocket expenses, etc., payable to them for the Financial Year ending the 31st March, 2018. RESOLVED FURTHER THAT the Board and/or its Committee and/or officer/s of the Company, to which/whom the Board may delegate or has delegated its powers, from time to time, be and are hereby authorized to do all the necessary acts/ deeds/ things including taking all consequential/ incidental step/s, to give effect to this Resolution.” SPECIAL BUSINESS: 6. To re-appoint Smt. Archana Capoor (DIN: 01204170) as Non Executive Independent Woman Director on the Board of the Company. To consider and, if thought fit, to pass with or without modification(s), the following resolution as Speciala Resolution:- “RESOLVED as a Special Resolution that pursuant to the provisions of Sections 149, 152, read with Schedule IV and all other applicable provisions, if any, of the Companies Act, 2013 (“the Act”), and the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force) and SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (Listing Regulations), Smt. Archana Capoor (DIN: 01204170), Non Executive Independent Woman Director of the Company, who has submitted a declaration that she meets the criteria for independence as provided in Section 149(6) of the Act and the Listing Regulations and who is eligible for re-appointment, be and is hereby re-appointed as Non Executive Independent Woman Director of the Company (not liable to retire by rotation) for a period of three (3) years commencing from the 11th February, 2017 to the 10th February, 2020 pursuant to decision of the Board of Directors of the Company (Board) dated the 07th December, 2016. RESOLVED FURTHER THAT the Board and/or its Committee and/or officer/s of the Company, to which/whom the Board may delegate or has delegated its powers, from time to time, be and are hereby authorized to do all the necessary acts/ deeds/ things including taking all consequential/ incidental step/s, to give effect to this Resolution.” 7. To ratify the remuneration of M/s J. D. & Associates, the Cost Auditors of the Company for the Financial Year ending the 31st March, 2018. To consider and, if thought fit, to pass with or without modification(s), the following resolution as anOrdinary Resolution:- 4 CIN : L45101DL1967PLC004759 Annual Report 2016-17 “RESOLVED as an Ordinary Resolution that pursuant to the provisions of Section 148 and all other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Cost Records and Audit) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force), approval of the Company be and is hereby accorded to the Board of Directors of the Company (Board) ratifying / confirming the remuneration of Rs. 1,50,000/- (Rupees one lakh fifty thousand only) excluding applicable tax payable to M/s. J. D. & Associates, Cost Accountants (Firm Registration No. 101443), whose appointment as Cost Auditor (including fixation of their remuneration) has been approved by the Board on the recommendation of the Audit Committee at their respective meetings held on the 12th August, 2017, for conducting the audit of the cost records of the Company for the Financial Year ending the 31st March, 2018. RESOLVED FURTHER THAT the Board and/or its Committee and/or officer/s of the Company, to which/whom the Board may delegate or has delegated its powers, from time to time, be and are hereby authorized to do all the necessary acts/ deeds/ things including taking all consequential/ incidental step/s, to give effect to this Resolution.” 8. To approve the terms of the Loan Agreement of Rs. 100 crores executed between Company and IL&FS Financial Services Limited with an option of its conversion into Equity shares of the Company. To consider and, if thought fit, to pass with or without modification(s), the following resolution as a Special Resolution:- “RESOLVED as a Special Resolution that pursuant to Section 62(3) and other applicable provisions of the Companies Act, 2013 and the Companies (Share Capital and Debentures Rules), 2014 (including any statutory modification(s) or re-enactment thereof, for the time being in force), the approval of the Company be and is hereby accorded to the Board of Directors of the Company (Board) for inclusion of an option of conversion of term loan of Rs. 100 crores (said loan) into Equity shares of the Company by providing for such term/s by way of entering into fresh/amendment loan agreement/s with IL&FS Financial Services Limited, having its branch at The IL&FS Financial Centre, 3rd Floor, Plot C-22, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400051 (IFIN or Lender) in substitution/amendment of the existing loan agreement/s executed on the 25th November, 2016 between IFIN and the
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