Annual Report 2019-2020
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THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 THE SHILLONG CLUB LTD. BOARD OF DIRECTORS 1. DR. W. KHARSHIING 2. SHRI SURESH PRASAD SINGH 3. SHRI AJAY GUPTA 4. SHRI D.M.PARIAT 5. COL. JAGDISH SINGH 6. SHRI G.M. LANONG 7. SHRI DEEPAK SINGLA STATUTORY AUDITORS:- M/s R. PAL & Co. Chartered Accountants Shillong -793001 REGISTERED OFFICE:- THE SHILLONG CLUB LTD Mahatma Gandhi Road Post Box No. 45, Shillong-793001 CIN: U91990ML1923NPL000291 GSTIN: 17AAACL3474GIZK Ph. (0364) 2226872, Fax (0364)2504455 Email : [email protected] Website: www.shillongclub.co.in BANKERS:- 1. STATE BANK OF INDIA Main Branch, Shillong 2. FEDERAL BANK G.S. Road, Shillong 3. The Meghalaya Co-Operative Apex Bank Ltd. G.S. Road, Shillong LEGAL RETAINER:- Shri Sandeep Jindal, B.A.L.L.B. (Hons) THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 CONTENTS Sl No. Page 1. Directors Report 1-11 2. Accounts upto 31st March 2020 12-32 3. Photo Gallery 35-38 4. List of Permanent Members 39-51 5. List of Affiliated Clubs 52-54 THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 Directors Report Dear Members, We take pleasure in presenting to you the Director’s Report of Achievement and Development Activities together with Audited Accounts for the Financial Year ended 31st March 2019-20. Financial Results Particulars 2019-20 , INR Net Total Income 24054052.11 Less: Operating & Administration expenses 20064759.69 Profit/Loss Before Depreciation & Taxes 3989292.42 Less: Depreciation & Amortization 2080804.00 Less: Finance Cost 0.00 Profit/Loss Before Tax 1908488.42 Less: Taxes ( Including Deferred Tax) 1275930.00 Profit After Tax 632558.42 0Less: Transferred to statutory Reserve 0.00 PAT Transferred to General Reserve 0.00 Add: Balance of Previous Year 0.00 Deferred Tax Asset of Earlier Year 0.00 Balance Transferred to General Reserve 0.00 Balance Transferred to Balance Sheet 632558.42 The Shillong Club Ltd is a non-profit Company within the meaning of section 8 of the Companies Act, 2013. Obituaries: With profound grief and deep sorrow we record the passing away of some of our esteemed members during the period from 21st December 2019 to 19th December2020 . The Board of Directors, Members and Staff of Shillong Club Ltd & Golf Club express their profound grief at the sad demise of our members and convey their deepest condolences to the bereaved family members. May the noble souls rest in peace and continue to be a beacon of light for the Club, namely- 1 THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 Name: Date Expired on : 1. Shri. Edmund Lyngdoh 13.11.2019 2. Shri. Ranju Bhattacharjee 22.01.2020. 3. Shri. Hormic Power Massar 10.02.2020. 4. Shri. Ganold Stone Massar 22.04.2020. 5. Shri. Robin Wason Marbaniang 03.05.2020. 6. Shri. Gautam Agarwal 22.06.2020 CSR Activities: We take our Corporate Social Responsibilities (CSR) very seriously. It is the way in which we seek to take account of our economic, social and environmental impact in all that we do. Our aim is to maximise the benefits and minimise any downsides. We work with our Members to achieve this goal.The Shillong Club Ltd, in collobration with Green Tech Foundation Meghalaya India, conducted an extensive Cleaning Drive, on 31st October 2020. The Shillong CLub Ltd in collaboration with Local Dorbar, Members & volunteers, organised and excuted claening drive, on 22nd Feb 2020. After a warm welcome by Col. Jagdish Singh, Direcor Golf, Golf Secretary, in presence of Guest of Honour Shri. A.L.Hek, Hon’ble Minister I/C Health & family Welfare, the programme was launched. The theme of the programme was “ Swachh Bharat” mission. Directors: Dr. W.Kharshiing, Mr. Suresh Singh, Mr. Ajay Gupta, Mr. G.M.Lanong, Mr. D.M.Pariat, Col Jagdish Singh & Mr. Deepak Singla, are members of the Board of Directors, appointed by the Club Members, through E-Voting.`The Directors contributed untiringly towards the development and building of the Shillong Club. The Board of Directors guidance, monitoring and down to earth approach towards Club Management has drawn widespread appreciation. Audit Committee & Providing Vigil Mechanism: The provisions of Section 177 of the Companies Act, 2013 (“the Act”) read with Rule 6 and 7 of Companies (Meetings of Board and its Powers) Rules, 2014 (“the Rules”) are not applicablle to the Club. Board Meetings: During the financial year ended March 31st, 2020, 17 number of Board Meetings were held on 28.12. 2020,11.01.2020,25.01.2020,08.02.2020,25.02.2020,14.03.2020,23.05.2020,05.06.2020, 20.06.2020,04.07 .2020,08.08.2020,05.09.2020, 22.10.2020, 07.11.2020,12.11.2020, 21.11.2020, 28.11.2020, in compliance with the provisions of Companies Act, 2013 & Secretarial standard under the statutory recognition, issued by the ICSI.(Institute of Companies Secretaries of India). 2 THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 Extra Ordinary General Meeting (EOGM): During the year ended 2019-20, Two EOGMs were held on 26th June and 27th July 2019. Policy relating to Directors appointment and remuneration. The provision of Section 178(1) of the Companies Act 2013 relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Directors qualification, positive attributes, independence of Directors,expertise and experience and other related matters as provided under Section 178(3) of the Companies Act, 2013. In accordance with the provisions of Section 178 of the Companies Act, 2013,none of the Directors during the year has received any remuneration from the Company Audit Report: “Independent Auditors Report” under the provisions of Section 143 and 145 of Companies Act, 2013 and Companies (Audit and Auditors) Rules, 2014 excluding the provisions related to audit report in case of Government Companies and other companies, where the auditor is appointed by the Comptroller and Auditor General of India.The independent Audit Report, has been prepared and put into acounts in compliance with the Generally Accepted Accounting Principles (GAAP). The Audit Report has been perused and approved by BOD. Declaration and Confirmations: The Company has adequate internal financial control system in place which operates effectively and efficiently, under the direct supervision of Board of Directors. According to the Directors, elements of risk that threaten the existence of Foundation are very minimal. Hence, no separate risk management policy is formulated and operations of such financial risk factor policies are non existence. There are no significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and Company’s operations in future. Public deposits: The Company has not accepted deposit from the public falling within the ambit of section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014. During the year under review, there was no unclaimed deposit amount which is required to be transferred to Investor Education and Protection Fund. As per Section 73(1) of Companies Act, 2013, No Company shall invite, accept or renew deposits under this act from the public except in a manner provided:Section 73 to 76 of the Companies Act 2013 (herein after called the Act) read with Rules made under Chapter V of the Companies Act, 2013 , as may be prescribed under Rule 2(c) of the Companies (Acceptance of Deposit) Rules, 2014. 3 THE SHILLONG CLUB LIMITED - ANNUAL REPORT 2019-20 Particulars of Loan, Guarantees or investments: Without prejudice to the provisions contained in this Act, a company shall unless otherwise prescribed, make investment through not more than two layers of investment. However No Loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013 were given during the year under review nor appplied.However, during the year under review the Shillong Club has not made investment . Act-to-override-Memorandum-Articles-etc(Section 6 companie Act 2013): The provisions of this Act shall have effect notwithstanding anything to the contrary contained in the memorandum or Articles of a Company , or in any agreement executed by it, or in any resolution passed by the company in general meeting or by its Board of Directors , whether the same be registered, executed or passed, as the case may be, before or after the commencement of this Act; and any provision contained in the memorandum, articles, agreement or resolution shall, to the extent to which it is repugnant to the provisions of this Act, become or be void, as the case may be . Extract of Annual Returns: The extract of Annual Returns as on Financial Year ended March 2019-20, as required under Sub-Section 3 of Section 92 of Companies Act, 2014 in Form No. MGT 9 is attached. Directors Responsibility Statement: Your Directors hereby confirm and declare that:- I. In the preparation of the annual accounts for the year ended 31st March 2019-20, the applicable accounting standards had been followed along with proper explanation relating to material departures. II. They had taken such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the year ended 31st March 2019-20 and of the loss of the Company for that period. Iii. The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Companies Act 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; iv.