Contents | |
Corporate Information | 1 |
Notice of Annual General Meeting | 2-15 |
Directors Report and Management Discussion and Analysis | 16-37 |
Corporate Governance Report | 38-64 |
FINANCIAL STATEMENTS - STANDALONE | |
Independent Auditors' Report | 65-75 |
Balance Sheet | 76 |
Statement of Profit and Loss | 77 |
Cash Flow Statement | 78-79 |
Statement of Changes in Equity | 80 |
Notes to Financial Statements | 81-137 |
FINANCIAL STATEMENTS - CONSOLIDATED | |
Independent Auditors' Report | 138-145 |
Balance Sheet | 146 |
Statement of Profit and Loss | 147 |
Cash Flow Statement | 148-149 |
Statement of Changes in Equity | 150 |
Notes to Financial Statements | 151-207 |
Statement pursuant to Section 129 (3) of the Companies Act, 2013 | |
Summary of Financial Statements of Subsidiaries, Associates and Joint Ventures | 208-209 |
Corporate Information
BOARD OF DIRECTORS
HEMANT M. SHAH, Executive Chairman
SUNIL C. SHAH
KARTIK RUPAREL
KETAKI R. SHAH (upto November 28, 2022)
MITKUMAR KORADIA (upto July 11, 2022)
MILIN JAGDISH RAMANI (from September 30, 2022) BHAKTI JAYWANT KOTHARE (from November 14, 2022) JIGNESH HANSRAJ GALA (from May 29, 2023)
VYOMESH M. SHAH (VIMAL M. SHAH), Managing Director
COMMITTEES OF THE BOARD
AUDIT AND COMPLIANCE COMMITTEE
BHAKTI JAYWANT KOTHARE, Chairperson (from May 29, 2023)
SUNIL C. SHAH
KARTIK RUPAREL
MITKUMAR KORADIA (upto July 11, 2022)
MILIN JAGDISH RAMANI (from November 14, 2022)
VYOMESH M. SHAH
NOMINATION AND REMUNERATION COMMITTEE
SUNIL C. SHAH, Chairman
HEMANT M. SHAH
KARTIK RUPAREL
MITKUMAR KORADIA (upto July 11, 2022)
MILIN JAGDISH RAMANI (from November 14, 2022)
STAKEHOLDERS' RELATIONSHIP COMMITTEE
BHAKTI JAYWANT KOTHARE, Chairperson (from November 14, 2022)
SUNIL C. SHAH HEMANT M. SHAH
KETAKI R. SHAH (upto November 28, 2022)
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
HEMANT M. SHAH, Chairman
SUNIL C. SHAH
VYOMESH M. SHAH
RISK MANAGEMENT COMMITTEE
SUNIL C. SHAH, Chairman
HEMANT M. SHAH
VYOMESH M. SHAH
CHIEF FINANCIAL OFFICER
SUNIL MAGO
COMPANY SECRETARY
SADANAND LAD
STATUTORY AUDITORS
JBTM & Associates LLP, Chartered Accountants
COST AUDITORS
SHEKHAR JOSHI & CO., Cost Accountants
INTERNAL AUDITORS
PROTUNE KSA CONSULTANTS PRIVATE LIMITED,
Chartered Accountants
SECRETARIAL AUDITORS
MIHEN HALANI & ASSOCIATES, Practicing Company Secretaries
REGISTERED OFFICE
'HUBTOWN SEASONS', CTS NO. 469-A,
OPP. JAIN TEMPLE,
R. K. CHEMBURKAR MARG, CHEMBUR (EAST), MUMBAI 400071
CIN | : L45200MH1989PLC050688 |
Phone | : 022 25265000 |
Fax | : 022 25265125 |
Investor E-mail : investorcell@hubtown.co.in
Website : www.hubtown.co.in
REGISTRAR & TRANSFER AGENT
LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 PARK
LAL BAHADUR SHASTRI MARG
VIKHROLI (WEST), MUMBAI 400 083
Phone | : 022 49186000 | ||
Fax | : 022 49186060 | ||
: rnt.helpdesk@linkintime.co.in | |||
Website | : www.linkintime.co.in | ||
BANKERS
CANARA BANK
IDBI BANK
UNION BANK OF INDIA
PUNJAB NATIONAL BANK
35TH ANNUAL GENERAL MEETING THURSDAY, SEPTEMBER 21, 2023 AT 11:00 AM
THROUGH VIDEO CONFERENCING OR OTHER AUDIO VISUAL MEANS
1
[CIN: L45200MH1989PLC050688]
Registered Office: 'HUBTOWN SEASONS', CTS NO. 469-A, OPP. JAIN TEMPLE, R. K. CHEMBURKAR MARG, CHEMBUR (EAST), MUMBAI - 400071
Phone: + 91-22-2526-5000; Fax: + 91-22-2526-5125;E-mail:investorcell@hubtown.co.in;Website: www.hubtown.co.in
Hubtown Limited
Notice of 35TH Annual General Meeting
NOTICE IS HEREBY GIVEN THAT THE THIRTY FIFTH ANNUAL GENERAL MEETING ("THE AGM / THE MEETING") OF THE MEMBERS OF HUBTOWN LIMITED WILL BE HELD ON THURSDAY, SEPTEMBER 21, 2023 AT 11:00 A.M. THROUGH VIDEO CONFERENCING / OTHER AUDIO VISUAL MEANS TO TRANSACT THE FOLLOWING BUSINESS:
ORDINARY BUSINESS:
- To receive, consider and adopt:
- the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and the Auditors thereon; and
- the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 and the Report of the Auditor's thereon.
- To appoint a Director in place of Mr. Vyomesh M. Shah (DIN: 00009596), who retires by rotation and being eligible, offers himself for reappointment.
SPECIAL BUSINESS:
To consider and if thought fit, to pass, with or without modification(s), the following resolutions:
As an Ordinary Resolution:
3. RATIFICATION OF REMUNERATION PAYABLE TO THE COST AUDITOR'S OF THE COMPANY FOR THE FINANCIAL YEAR 2023-2024:
"RESOLVED THAT pursuant to the provisions of section 148 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014 (including any statutory amendment(s) or modification(s) or re-enactment(s) thereof, for the time being in force), the remuneration of the Cost Auditor, M/s. Shekhar Joshi & Co., Cost Accountants (Firm Registration No. 100448), of ₹ 1,50,000/- (Rupees One Lakh Fifty Thousand only) plus applicable tax and reimbursement of out-of-pocket expenses to conduct the audit of the cost records of the Company for the financial year ending March 31, 2024, as recommended by the Audit and Compliance Committee and approved by the Board of Directors, be and is hereby ratified and approved;
RESOLVED FURTHER THAT the Board of Directors and/or Key Managerial Personnel of the Company be and are hereby authorized to do all such acts, deeds, matters and things as may be deemed necessary, desirable, proper or expedient for the purpose of giving effect to the above resolution."
As an Ordinary Resolution:
4. APPROVAL OF MATERIAL TRANSACTIONS WITH RELATED PARTIES UNDER THE COMPANIES ACT, 2013 AND THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015:
"RESOLVED THAT pursuant to the provisions of sections 2(76), 179, 188 and other applicable provisions, if any, of the Companies Act, 2013 ("the Act") read with rules framed thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force), Regulations 2(1)(zc), 23(4) and other applicable Regulations, if any, of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), as amended from time to time, and any other applicable provisions including any statutory modifications and amendments to each of the foregoing, and applicable notifications, clarifications, circulars, rules and regulations
issued by Central Government or any governmental or statutory authorities, the Memorandum and Articles of Association of the Company and subject to such approval(s), consent(s) and/or permission(s), as may be required, including such conditions and modification as may be prescribed or imposed while granting such approvals, consents, permissions, and pursuant to the approval of the Audit and Compliance Committee and the Board of Directors of the Company, consent of the members be and is hereby accorded to the Company for entering into material Related Party Transactions, Contracts or Arrangements including Material Related Party Transactions, Contracts or Arrangements as defined under the Act and the Listing Regulations, with related parties as defined under the Act and the Listing Regulations from the Financial Year 2023-2024 and onwards for each Financial Year upto the maximum amount per annum as per details provided hereunder, on such terms and conditions as may be mutually agreed upon between the Company and the related party(ies):
2
Notice (Contd.)
MAXIMUM VALUE PER EACH TYPE OF CONTRACT/TRANSACTION INTER-CHANGEABLE PER ANNUM W.E.F. APRIL 1, 2023
Transactions as defined under the Companies Act, 2013 / the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Name and relationship of the Related Parties | Nature of Transactions | Amount | ||
(₹ in Crores) | ||||
A. | SUBSIDIARIES | |||
Citywood Builders Private Limited | 1) | Making investment in securities / capital contribution; | 50.00 | |
Citygold Education Research Limited | 2) | Making loans / business advances / inter-corporate | 200.00 | |
Gujarat Akruti-TCG Biotech Limited | deposits; | 50.00 | ||
3) Providing corporate guarantees / securities / collaterals for | ||||
Joynest Premises Private Limited | 280.00 | |||
loans availed; | ||||
Vishal Techno Commerce Limited | 100.00 | |||
4) Leasing of property of any kind; | ||||
Yantti Buildcon Private Limited | 50.00 | |||
5) Availing / rendering of services; | ||||
Rubix Trading Private Limited | 380.00 | |||
6) Sale/Purchase/Supply of goods and material; | ||||
7) Selling of otherwise disposing of or buying property of any | ||||
B. | ASSOCIATES | |||
kind including FSI / TDRs; and | ||||
Giraffe Developers Private Limited | 300.00 | |||
8) | Any other transfer of resources / services or obligations | |||
Hubtown Bus Terminal (Adajan) Private Limited | 50.00 | |||
Hubtown Bus Terminal (Ahmedabad) Private Limited | 100.00 | |||
Hubtown Bus Terminal (Mehsana) Private Limited | 100.00 | |||
Hubtown Bus Terminal (Vadodara) Private Limited | 50.00 | |||
Joyous Housing Limited | 50.00 | |||
Rare Townships Private Limited | 250.00 | |||
Sunstream City Private Limited | 950.00 | |||
Shubhsiddhi Builders Private Limited | 30.00 | |||
C. | JOINT VENTURES | |||
Akruti GM Joint Venture | 100.00 | |||
D. | OTHERS | |||
Rising Glory Developers | 250.00 | |||
Wellgroomed Venture | 50.00 | |||
Mr. Rushank V. Shah | 50.00 | |||
Buildbyte. Com. (India) Private Limited | 50.00 | |||
Citygold Management Services Private Limited | 50.00 | |||
Powersoft IT Private Limited | 50.00 | |||
Amazia Developer Private Limited | 200.00 | |||
Ackruti Star Maintenance Private Limited | 20.00 | |||
Hubtown Solaris Maintenance Private Limited | 20.00 | |||
Hubtown Viva Maintenance Private Limited | 20.00 | |||
Vinca Developer Private Limited | 50.00 | |||
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Hubtown Limited published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 09:30:55 UTC.