Professional Documents
Culture Documents
CIN: U74140DL1997PLC088373
EXPLANATORY STATEMENT…..……………………………………..…………………………… 9
DIRECTOR’S REPORT.……………………………………………………………………………… 10
NOTES TO ACCOUNTS………………………………………………………………………………. 32
PROXY FORM………………………………………………………………………………………….. 43
CORPORATE INFORMATION
BOARD OF DIRECTORS
BOARD COMMITTEES
AUDIT COMMITTEE FORMED ON 03RD APRIL, 2017
Name of Directors Designation in Nature of Directorship
Committee
Mr. Akhilesh Kumar Maheshwari Chairman Non-Executive Independent Director
Mr. Vikram Gandhi Member Non-Executive Independent Director
Mr. Chandra Shekhar Verma Member Managing Director
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20TH ANNUAL REPORT 2016-2017
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20TH ANNUAL REPORT 2016-2017
NOTICE is hereby given that the 20th Annual General Meeting of the Members of M/s Ace Integrated Solutions
Limited (CIN: U74140DL1997PLC088373) will be held on Tuesday, the 26th day of September, 2017 at 09.00
a.m. at JP Hotel & Resorts, 6B, Patparganj, I.P. Extension, NH-24, Delhi – 110092 to transact the following
businesses: -
ORDINARY BUSINESS
1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended
on 31st March, 2017 and Reports of Board of Directors and Report of Auditors thereon.
2. To appoint a Director in place of Mrs. Amita Verma (DIN 01089994), who retires by Rotation at this Annual
General Meeting, and being eligible, offers herself for re-appointment.
3. To appoint Sadana & Co., Chartered Accountants (FRN: 011616N) as statutory auditors of the Company and
in this regard to consider and if thought fit, to pass with or without modification, the following resolution as
an Ordinary Resolution.
“RESOLVED THAT pursuant to the provisions of section 139 and any other applicable provision of the
Companies Act, 2013 and the Rules made there under (including any statutory modification or re-enactment
thereof, for the time being in force), the appointment of M/s. Sadana & Co., Chartered Accountants (FRN:
011616N) as Statutory Auditors of the Company from the conclusion of 20th Annual General Meeting till the
conclusion of the 25th Annual General Meeting of the Company for the period of five consecutive years i.e. 2017-
18 to 2021-22, subject to ratification by members at every Annual General Meeting to be held during the said
period.
RESOLVED FURTHER THAT the Board of Directors or Audit Committee thereof, be and is hereby
authorized to decide and finalize the terms and conditions of appointment, including the remuneration of the
Statutory Auditors.”
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all
act, deeds and things as may be necessary or desirable to give effect to the aforesaid resolution.”
SPECIAL BUSINESS
4. To consider and if thought fit, to pass, with or without modification (s), the following resolution as an
Ordinary Resolution:
“RESOLVED THAT Pursuant to the provisions of section 161 and all other applicable provision of the
Companies Act, 2013 and the Companies (Appointment and Qualification of Directors) Rules, 2014 (including
any statutory modification or re-enactment thereof, for the time being in force), Mr. Vikram Gandhi (DIN:
06550307), who was appointed as Additional Director of the Company in the meeting of the Board of Directors
of the company held on 24th March, 2017, and who holds office up to the date of this Annual General Meeting
and in respect of whom the company has received a notice in writing from a member proposing his candidature
for the office of Director as per the provisions of Section 160 of the Companies Act, 2013. The Consent of the
shareholders of the Company be and is hereby accorded to appoint Mr. Vikram Gandhi (DIN: 06550307) as
Independent Director of the Company to hold office up to 23rd March, 2018 with effect from 24th March, 2017.
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20TH ANNUAL REPORT 2016-2017
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all
act, deeds and things as may be necessary or desirable to give effect to the aforesaid resolution.”
Ranjeet Singh
Date: 28.08.2017 (Company Secretary)
Place: Delhi Membership No. ACS-44935
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20TH ANNUAL REPORT 2016-2017
NOTES:
1. A member entitled to attend and vote at the Annual General Meeting (“Meeting”) is entitled to appoint a
proxy to attend and vote on a poll instead of himself / herself and the proxy need not be a member of the
Company. The instrument appointing proxy in order to be effective, should be deposited at Company's
registered office, duly completed and signed, not less than forty eight hours before the commencement of the
meeting. A person can act as proxy on behalf of members not exceeding fifty (50) and holding in the aggregate
not more than ten percent of the total share capital of the company. A member holding more than ten percent
of the total share capital of the company carrying voting rights may appoint a single person as proxy and such
person shall not act as proxy for any other person or shareholder.
2. The Proxy holder shall prove his/her identity at the time of attending the Meeting.
3. When a member appoints a proxy and both the Member and the Proxy attend the Meeting, the Proxy stands
automatically revoked.
4. Members are requested to bring their attendance slip along with their copy of Annual Report to the meeting.
5. Corporate members intending to send their authorized representatives to attend the Meeting are requested to
send a certified copy of the Board Resolution authorizing their representatives to attend and vote on their
behalf.
6. The Explanatory Statement pursuant to the provisions of Section 102 of the Companies Act, 2013 relating to
the Special Business to be transacted at this AGM is annexed hereto.
7. All documents referred to in the accompanying notice and explanatory statement will be kept open for
inspection at the Registered Office of Company at B-13, DSIDC Complex, Functional Industrial Estate,
Industrial Area Patparganj, New Delhi – 110092 on all working days between 10.00 a.m. to 01.00 p.m. prior
to date of Annual General Meeting.
8. The Notice of 20th Annual General Meeting and the Annual Report 2016-2017 of the Company, circulated to
the members of the Company, will be made available on the Company’s website at www.aceintegrated.com.
9. Electronic copy of the Annual Report for 2016-17 is being sent to all the members whose email IDs are
registered with the Company/Depository Participant(s) for communication purposes unless any member has
requested for a hard copy of the same. For members who have not registered their email address, physical
copies of the Annual Report for 2016-17 is being sent in permitted mode.
Members who have not registered their e-mail addresses, so far, are requested to register their e-mail
addresses, in respect of electronic holdings with the Depository through their concerned Depository
Participants or with Company or with the Registrar and Share Transfer Agent of the Company (in case of
Shares held in physical form).
10. Members are requested to notify any change in their addresses to the Company or Registrar and Share
Transfer Agent of the Company immediately. Members holding shares in electronic form are requested to
advise change of addresses to their Depository Participants.
11. Members may also note that the Notice of 20th Annual General Meeting and the Annual Report 2016-17 will
also be available on the Company’s website at www.aceintegrated.com for their download. The physical
copies of the aforesaid documents will also be available at the Company’s Registered Office at B-13, DSIDC
Complex, Functional Industrial Estate, Industrial Area Patparganj, New Delhi – 110092 for inspection during
normal business hours on working days. Even after registering for e-communication, members are entitled to
receive such communication in physical form, upon making a request for the same, by post free of cost. The
notice of 20th Annual General Meeting will also be available on CDSL website : www.cdslindia.com for their
download.
12. Members are requested to provide their client ID and DP ID numbers at the meeting for easy identification.
13. Members desiring any information concerning the accounts are requested to address their questions in writing
to the Company at its registered office at B-13, DSIDC Complex, Functional Industrial Estate, Industrial Area
Patparganj, New Delhi – 110092, at least 7 (Seven) days before the date of the Meeting so that the information
required may be made available at the Meeting.
14. Register of Members and Share Transfer Books will remain closed from Wednesday, 20th September, 2017
to Tuesday, 26th September, 2017 (both days inclusive) for the purpose of holding 20th Annual General
Meeting.
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20TH ANNUAL REPORT 2016-2017
15. The Securities and Exchange Board of India (“SEBI”) has mandated the submission of Permanent Account
Number (“PAN”) by every participant in the securities market. Members holding shares in electronic form
are therefore, requested to submit their PAN card numbers/copies of PAN card to their depository participants
with whom they are maintaining their demat accounts. Members holding shares in physical form can submit
their PAN details to the Company/Registrar and Share Transfer Agent, M/s. Bigshare Services Private
Limited.
16. A route map along with prominent landmark for easy reach to the venue of Annual General Meeting is at the
last page of this Annual Report.
17. Pursuant to Section 108 of the Companies Act, 2013 read with Rule 20 of Companies (Management and
Administration) Rules, 2014, as amended upto date, Regulation 44 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 the Company is pleased to provide its members the facility to
exercise their right to vote on the resolutions proposed to be passed in the 20th Annual General Meeting
(AGM) by electronic means and the business may be transacted through e-Voting Services provided by
Central Depository Services (India) Limited (CDSL).
The facility for voting through ballot / polling paper shall also be made available at the venue of the 20th
AGM. The members attending the meeting, who have not already cast their vote through remote e-voting
shall be able to exercise their voting rights at the meeting. The members who have already cast their vote
through remote e-voting may attend the meeting but shall not be entitled to cast their vote again at the AGM.
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20TH ANNUAL REPORT 2016-2017
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20TH ANNUAL REPORT 2016-2017
(xxiv) The Scrutinizer shall with in a period of not exceeding three (3) days from the conclusion of the meeting
make a Consolidated Scrutinizer's Report of the total votes cast in favour or against, if any, and submit
the same to the Chairman of the Company.
(xxv) Any person, who acquires shares of the Company and become Member of the Company after dispatch
of the Notice and holding shares as on the cut-off date i.e. 19th September, 2017 may follow the same
instructions as mentioned above for e-Voting.
Ranjeet Singh
Date: 28.08.2017 (Company Secretary)
Place: Delhi Membership No. ACS-44935
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20TH ANNUAL REPORT 2016-2017
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 (1) OF THE COMPANIES ACT, 2013
ITEM NO. 4
Mr. Vikram Gandhi (DIN: 06550307) was appointed as Additional Director in the category of Non-Executive
(Independent) Director of the Company. Pursuant to the provision of section 149 and any other applicable
provisions of the Companies Act, 2013, Mr. Vikram Gandhi (DIN: 06550307) being eligible and seeking
appointment, are proposed to be appointed as an Independent Director for a term of One years with effect from
24th March, 2017, not liable to retire by rotation.
Mr. Vikram Gandhi (DIN: 06550307) are not disqualified from being appointed as Director in terms of Section
164 of the Companies Act, 2013 and have given their consent in writing to act as Director in Form DIR-2. The
Company has also received a declaration to the effect that they meet the criteria of independence as prescribed
both under sub-section (6) of Section 149 of the Companies Act, 2013.
In the opinion of the Board, Mr. Vikram Gandhi (DIN: 06550307) fulfil the conditions specified in the
Companies Act, 2013 and rules made thereunder for their appointment as an Independent Directors of the
Company and are independent of the management.
The Board recommends adoption of the resolution set out in Item No. 4 as an Ordinary Resolution.
Except Mr. Vikram Gandhi, being appointee, none of the other Directors / Key Managerial Personnel of the
Company or their relatives are in anyway, concerned or interested, financially or otherwise, in the resolution set
out at Item No. 4.
Ranjeet Singh
Date: 28.08.2017 (Company Secretary)
Place: Delhi Membership No. ACS-44935
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20TH ANNUAL REPORT 2016-2017
DIRECTOR’S REPORT
To,
The Members,
ACE INTEGRATED SOLUTIONS LIMITED
The Directors of your Company are pleased to present their 20th Annual Report on the business and operations of
the Company along with the Audited Annual Financial Statements and the Auditors’ Report thereon for the
financial year ended 31st March, 2017. The financial highlights for the year under review are given below:
1. FINANCIAL HIGHLIGHTS:
(Figure In Rupees)
PARTICULARS FIGURES FOR FIGURES FOR
31.03.2017 31.03.2016
Revenue from operations 210,612,475 209,710,034
Other Income 2,291,387 938,954
Expenses 191,074,602 188,697,144
Profit Before Tax 21,829,260 21,951,844
Provision for Current Tax 8,528,000 7,045,000
Deferred Tax Liability 603,779 216,577
Profit After Tax 12,697,481 14,690,267
Surplus brought forward from last year 28,120,213 40,436,204
Bonus Issue 25,000,000 24,900,000
Proposed Dividend 0 1,750,000
Tax on Dividend 0 356,258
Balance Carried Forward 15,817,693 28,120,213
DIVIDEND
Your Directors deem it proper to preserve the resources of the Company for its future activities and therefore, do
not propose any dividend on the Equity Shares for the Financial Year ended March 31, 2017.
SHARE CAPITAL
At the beginning of the year i.e. 01.04.2016, paid-up capital was Rs. 250 Lakh and the Paid-up capital increased
by Rs. 250 Lakh during the year. As on March 31, 2017, the paid-up Equity Share Capital was Rs. 500 Lakhs.
DEPOSITORY SYSTEM
The Company’s total paid-up capital representing 50,000,000 are in dematerialized form as on March 31, 2017.
LISTING
The Shares of your Company are listed on Emerge Platform of National Stock Exchange of India Limited (NSE
Emerge) w.e.f. 13th July, 2017.
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20TH ANNUAL REPORT 2016-2017
DEPOSITS
The Company has not accepted any deposits from the public during the year under review.
The Board has appointed Mr. Ranjeet Singh as a Company Secretary of the Company with effective from 14 th
July, 2016.
The Board has appointed Mr. Rohit Goel as a Chief Financial Officer of the Company with effective from 14th
July, 2016.
Mr. Akhilesh Kumar Maheshwari (DIN: 00062645) appointed as an Independent Director of the Company with
effective from 30th July, 2016 with the approval of shareholders in Annual General Meeting to hold the office for
five consecutive years for a term upto 29th July, 2021.
The Board appointed Mr. Ashok Kumar Agrawal (DIN: 01085921) as an Additional Director in category of Non-
Executive Independent Director with effect from 26th August, 2016, subject to the approval of the shareholders,
will hold office till the ensuing AGM and is eligible for appointment. His appointment as an Independent Director
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20TH ANNUAL REPORT 2016-2017
was regularized in the Extra-ordinary general meeting held on 20th January, 2017 and he is appointed to hold the
office for five consecutive years for a term upto 25th August, 2021.
Ms. Shivangi Chandra (DIN: 07559119) appointed as a Non-Executive Director of the Company with effect from
20th January, 2017 with the approval of shareholders in General Meeting, her term is liable to retire by rotation.
The Board has appointed Mr. Vikram Gandhi (DIN: 06550307) as an Additional Director in the category of Non-
Executive Independent Director with effect from 24th March, 2017, subject to the approval of the shareholders,
will hold office till the ensuing Annual General Meeting and is eligible for appointment and he is appointed to
hold the office for one year for a term upto 23rd March, 2018.
In accordance with the provisions of Companies Act, 2013 and Article of Association of the Company, Mrs.
Amita Verma (DIN: 01089994) will retire by rotation at the ensuing Annual General Meeting and being eligible
offer herself for re-appointment. The Board recommends her re-appointment as a Director of the Company.
The Company has received declarations from all the Independent Directors of the Company confirming that they
meet the criteria of independence as prescribed both under the Act and relevant regulation of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 with the Stock Exchanges. Mr. Akhilesh Kumar
Maheshwari and Mr. Ashok Kumar Agrawal shall hold office for a term up to five consecutive years on the Board
of the Company, but shall be eligible for reappointment for next five years on passing of a special resolution by
the Company and disclosure of such appointment in the Board’s Report. Mr. Vikram Gandhi shall hold office for
a term up to One year on the Board of the Company, but shall be eligible for reappointment for next five years on
passing of a special resolution by the Company and disclosure of such appointment in the Board’s Report.
The details of program for familiarization of Independent Directors with the Company, their roles, rights,
responsibilities in the Company, nature of the industry in which the Company operates, business model of the
Company and related matters are put up on the website of the Company at www.aceintegrated.com. All the
Independent Directors of the Company are made aware of their role, responsibilities & liabilities at the time of
their appointment /re-appointment, through a formal letter of appointment, which also stipulates various terms
and conditions of their engagement.
MEETINGS
The Board meets at regular intervals to discuss and decide on Company / Business policy and strategy apart from
other Board business. The Board / Committee Meetings are prescheduled and a tentative annual calendar of the
Board and Committee Meetings is circulated to the Directors in advance to facilitate them to plan their schedule
and to ensure meaningful participation in the meetings. However, in case of a special and urgent business need,
the Board’s approval is taken by passing resolutions through circulation, as permitted by law, which are confirmed
in the subsequent Board meeting.
The Board of Directors duly met 11 (Eleven) times during the financial year from 1st April, 2016 to 31st March,
2017. The dates on which the meetings were held are as follows:
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20TH ANNUAL REPORT 2016-2017
STATUTORY AUDITORS
M/s P. RASTOGI & CO., Chartered Accountant, FRN No. 028122N (Membership No- 091037) Statutory
Auditors of the Company was appointed for Five financial years i.e. 2015-2020 however he resigns from the post
of Statutory Auditors of the Company w.e.f. 28th August, 2017 due to not holding the peer review certificate,
issued by The Institute of Chartered Accountant of India.
M/s Sadana & Co., Chartered Accountants (FRN: 011616N), is proposed to be appointed as a statutory auditor
of the Company in place of M/s P. Rastogi & Co. at the 20th Annual General Meeting to be held on September
26, 2017 for a period of Five consecutive years subject to ratification by members at every subsequent Annual
General Meeting.
The Company has received a Consent to act as a statutory auditor of the company and certificate from M/s Sadana
& Co., Chartered Accountants, their appointment, if made, would be within the limits prescribed under Section
141 of the Companies Act, 2013 and they are not disqualified to be appointed as Statutory Auditors.
AUDITOR’S REPORT
The Auditors Report is annexed with the Audited Accounts of the Company. The observation made by Auditors
in their Report, your Directors wish to state that the report is self - explanatory and do not require any further
clarification from the Board.
SECREATRIAL AUDITORS
Pursuant to the provisions of Section 204 of the Companies Act, 2013, Secretarial Audit provision is not applicable
on your Company. Accordingly, your Company is not required to conduct the secretarial audit for the financial
year 2016-17.
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20TH ANNUAL REPORT 2016-2017
INTERNAL AUDITORS
The provision of Section 138 of the Companies Act, 2013 was not applicable on your Company for the financial
year 2016-17. Accordingly, your Company was not required to conduct the internal audit for the financial year
2016-17.
COST AUDITORS
Provision of Cost Audit is not applicable on your Company. Accordingly, your Company is not required to
conduct the cost audit for the financial year 2016-17.
PARTICULARS OF EMPLOYEES
The provision of section 197(12) of the Companies Act, 2013 does not apply during the financial year 2016-17.
INDUSTRIAL RELATIONS
During the year under review, your Company enjoyed cordial relationship with workers and employees at all
levels.
ACKNOWLEDGEMENT
We thank the Government of India and Governments of various states, where the company has its operations. We
also take this opportunity to thank our bankers for their continuous support to the company.
We also thank our esteemed customers & clients, vendors and investors for their continued support during the
year. We also take this opportunity to place on record appreciation of the contribution made by our employees at
all levels. Our growth demonstrates their commitment, handwork, support, and cooperation.
Sd/- Sd/-
Date: 28.08.2017 Chandra Shekhar Verma Amita Verma
Place: Delhi (Managing Director) (Director)
DIN: 01089951 DIN: 01089994
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20TH ANNUAL REPORT 2016-2017
Annexure-I
EXTRACT OF ANNUAL RETURN
FORM MGT 9
(Pursuant to Section 92 (3) of the Companies Act, 2013
and Rule 12(1) of the Company (Management & Administration) Rules, 2014)
All the business activities contributing 10% or more of the total turnover of the company shall be stated
S. No. Name & Description of main products/services NIC Code of the % to total turnover
Product/service of the Company
1 Assisting various Govt/ Semi Govt organization/ 78300 98.92%
Management in recruitment of Human Resources
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20TH ANNUAL REPORT 2016-2017
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
(i) Category-wise Share Holding
Category of No. of Shares held at the beginning No. of Shares held at the end of %
Shareholders of the year the year Chang
De Physical Total % of Demat Ph Total % of e
mat Total ysi Total during
Share cal Share the
s s year
A. Promoters
(1) Indian
a) Individual/ HUF Nil 2500000 2500000 100 4999600 Nil 4999600 99.992 (0.008)
b) Central Govt Nil Nil Nil Nil Nil Nil Nil Nil Nil
c) State Govt(s) Nil Nil Nil Nil Nil Nil Nil Nil Nil
d) Bodies Corp. Nil Nil Nil Nil 400 Nil 400 0.008 0.008
e) Banks / FI Nil Nil Nil Nil Nil Nil Nil Nil Nil
f) Any other Nil Nil Nil Nil Nil Nil Nil Nil Nil
Total shareholding of
Nil 2500000 2500000 100 5000000 Nil 5000000 100 Nil
Promoter (A)-(1)
(2) Foreign Nil
a) NRI Individuals/
Nil Nil Nil Nil Nil Nil Nil Nil Nil
HUF
b) Other Individuals Nil Nil Nil Nil Nil Nil Nil Nil Nil
c) Bodies Corp. Nil Nil Nil Nil Nil Nil Nil Nil Nil
d) Banks / FI Nil Nil Nil Nil Nil Nil Nil Nil Nil
e) Any other Nil Nil Nil Nil Nil Nil Nil Nil Nil
Total shareholding of
Nil Nil Nil Nil Nil Nil Nil Nil Nil
Promoter (A)-(2)
Total Shareholding of
Promoter and
Nil 2500000 2500000 100 5000000 Nil 5000000 100 Nil
Promoter Group (A)=
(A)(1)+(A)(2)
B. Public
Shareholding
1. Institutions
a) Mutual Funds Nil Nil Nil Nil Nil Nil Nil Nil Nil
b) Banks / FI Nil Nil Nil Nil Nil Nil Nil Nil Nil
c) Central Govt Nil Nil Nil Nil Nil Nil Nil Nil Nil
d) State Govt(s) Nil Nil Nil Nil Nil Nil Nil Nil Nil
e) Venture Capital
Nil Nil Nil Nil Nil Nil Nil Nil Nil
Funds
f) Insurance Companies Nil Nil Nil Nil Nil Nil Nil Nil Nil
g) FIIs Nil Nil Nil Nil Nil Nil Nil Nil Nil
h) Foreign Venture
Nil Nil Nil Nil Nil Nil Nil Nil Nil
Capital Funds
i) Others (specify) Nil Nil Nil Nil Nil Nil Nil Nil Nil
Sub-total (B)(1):- Nil Nil Nil Nil Nil Nil Nil Nil Nil
2. Non-Institutions
a) Bodies Corp.
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20TH ANNUAL REPORT 2016-2017
(i) Indian Nil Nil Nil Nil Nil Nil Nil Nil Nil
(ii) Overseas Nil Nil Nil Nil Nil Nil Nil Nil Nil
b) Individuals
i) Individual
shareholders holding
Nil Nil Nil Nil Nil Nil Nil Nil Nil
nominal share capital
up to Rs. 1 lakh
ii) Individual
shareholders holding
Nil Nil Nil Nil Nil Nil Nil Nil Nil
nominal share capital in
excess of Rs 1 lakh
c) Other (specify) Nil Nil Nil Nil Nil Nil Nil Nil Nil
Sub-total (B)(2):- Nil Nil Nil Nil Nil Nil Nil Nil Nil
Total Public
Shareholding Nil Nil Nil Nil Nil Nil Nil Nil Nil
(B)=(B)(1)+ (B)(2)
C. Shares held by
Custodian for GDRs Nil Nil Nil Nil Nil Nil Nil Nil Nil
& ADRs
Grand Total (A+B+C) Nil 2500000 2500000 100 5000000 Nil 5000000 100 Nil
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20TH ANNUAL REPORT 2016-2017
(iv)Shareholding Pattern of top ten Shareholders: (Other than Directors, Promoters and Holders of GDRs and
ADRs):
Sl. For each of the top 10 Shareholding at the beginning of Shareholding at the end of the
No shareholders the year year
No of % of total shares of No of % of total shares of
Shares the company Shares the company
NIL
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20TH ANNUAL REPORT 2016-2017
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20TH ANNUAL REPORT 2016-2017
5 Ashok Kumar At the beginning of the year Nil Nil Nil Nil
Agrawal**
Date wise Increase / Nil
Decrease in Promoters
Shareholding during the
year specifying the reasons
for increase / decrease (e.g.
allotment / transfer / bonus
/ sweat / equity etc)
At the end of the year. Nil Nil Nil Nil
6 Vikram At the beginning of the year Nil Nil Nil Nil
Gandhi**
Date wise Increase / Nil
Decrease in Promoters
Shareholding during the
year specifying the reasons
for increase / decrease (e.g.
allotment / transfer / bonus
/ sweat / equity etc)
At the end of the year. Nil Nil Nil Nil
7 Ranjeet Singh** At the beginning of the year Nil Nil Nil Nil
Date wise Increase / Nil
Decrease in Promoters
Shareholding during the
year specifying the reasons
for increase / decrease (e.g.
allotment / transfer / bonus
/ sweat / equity etc)
At the end of the year. Nil Nil Nil Nil
8 Rohit Goel** At the beginning of the year Nil Nil Nil Nil
Date wise Increase / Nil
Decrease in Promoters
Shareholding during the
year specifying the reasons
for increase / decrease (e.g.
allotment / transfer / bonus
/ sweat / equity etc)
At the end of the year. Nil Nil Nil Nil
** Mr. Chandra Shekhar Verma appointed as Managing Director & Key Managerial Personnel w.e.f.
07th July, 2016.
** Ms. Shivangi Chandra appointed as Non-Executive Director w.e.f. 20 th January, 2017.
** Mr. Akhilesh Kumar Maheshwari appointed as Independent Director w.e.f. 30th July, 2016.
** Mr. Ashok Kumar Agrawal appointed as Independent Director w.e.f. 26th August, 2016.
** Mr. Vikram Gandhi appointed as Independent Director w.e.f. 24th March, 2017
** Mr. Ranjeet Singh appointed as Company Secretary & Key Managerial Personnel w.e.f. 14th July,
2016.
** Mr. Rohit Goel appointed as Chief Financial Officer & Key Managerial Personnel w.e.f. 14th July, 2016.
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20TH ANNUAL REPORT 2016-2017
IV. INDEBTEDNESS –
Indebtedness of the Company including interest outstanding/accrued but not due for payment.
(Amount in Rs.)
Secured Loan Unsecured Deposits Total
excluding deposits Loans Indebtedness
Indebtedness at the beginning of
the financial year.
(i) Principal Amount 1,182,680 60,792,730 Nil 61,975,410
(ii) Interest due but not paid Nil Nil Nil Nil
(iii) Interest Accrued but not Nil Nil Nil Nil
due,
Total (i + ii + iii) 1,182,680 60,792,730 Nil 61,975,410
Change in the indebtedness during
the financial year
Addition Nil 63,627,018 Nil 63,627,018
Reduction (386,689) (44,469,936) Nil (44,856,625)
Net Change (386,689) 19,157,082 Nil 18,770,393
Indebtedness at the end of the
financial year
(i) Principal Amount 795,991 79,949,812 Nil 80,745,803
(ii) Interest Due but not paid Nil Nil Nil Nil
(iii) Interest Accrued but not due Nil Nil Nil Nil
Total (i + ii + iii) 795,991 79,949,812 Nil 80,745,803
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20TH ANNUAL REPORT 2016-2017
* Mr. Ranjeet Singh appointed as Company Secretary w.e.f. 14th July, 2016.
* Mr. Rohit Goel appointed as Chief Financial Officer w.e.f. 14th July, 2016.
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20TH ANNUAL REPORT 2016-2017
Penalty
Punishment None
Compounding
Sd/- Sd/-
Date: 28.08.2017 Chandra Shekhar Verma Amita Verma
Place: Delhi (Managing Director) (Director)
DIN: 01089951 DIN: 01089994
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20TH ANNUAL REPORT 2016-2017
Annexure II
Particulars of Conservation of energy, Technology absorption and Foreign exchange earnings and outgo in terms
of Section 134 (3) of the Act read with Rule, 8 of the Companies (Accounts) Rules, 2014, forming part of the
Directors’ Report for the year ended 31st March, 2017.
A. CONSERVATION OF ENERGY
The Company continues to work towards Conservation of Energy and has been taking various measures
like replacement of outdated energy intensive equipment with energy saving equipment and timely
maintenance of electrical equipment etc.
B. TECHNOLOGY ABSORPTION
The Company has not imported any technology during the year under review.
Sd/- Sd/-
Date: 28.08.2017 Chandra Shekhar Verma Amita Verma
Place: Delhi (Managing Director) (Director)
DIN: 01089951 DIN: 01089994
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20TH ANNUAL REPORT 2016-2017
Annexure –III
FORM AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts)
Rules, 2014) Form for Disclosure of particulars of contracts/arrangements entered into by the company with
related parties referred to in sub section (1) of section 188 of the Companies Act, 2013 including certain arm’s
length transaction under third proviso is given below:
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20TH ANNUAL REPORT 2016-2017
To the Members of
M/S Ace Integrated Solutions Limited
New Delhi
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into
account the provisions of the Act, the accounting and auditing standards and matters which are required to be
included in the audit report under the provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal financial control relevant to the Company’s preparation of the financial
statements that give true and fair view, in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate
internal financial controls system over financial reporting and operating effectiveness of such controls. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting
estimates made by Company’s Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the financial statements.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
financial statements give the information required by the Act in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in India of the state of affairs of the
Company as at 31st March2017, its profit/loss for the year ended on that date.
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20TH ANNUAL REPORT 2016-2017
Sd/-
CA Pyush Rastogi
Place: New Delhi Proprietor
Date: 28.08.2017 Membership No. 091037
The Annexure referred to in our Independent Auditors’ Report to the Members of the Company on the financial
statements for the year ended 31st March 2017, we report that:
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20TH ANNUAL REPORT 2016-2017
(iii) In respect of loans, secured or unsecured, granted to the parties covered in register maintained u/s 189 of
the Companies Act 2013:
According to the information and explanations given to us, the Company has not granted any loans to
companies, firms or other parties covered in the Register maintained under Section 189 of the Companies
Act, 2013; and therefore paragraph 3(iii ) of the Order is not applicable.
(iv) In our opinion and according to the information and explanations given to us, there are adequate internal
control procedures commensurate with the size of the company and the nature of its business for the
purchase fixed assets and for the sale of services. During the course of our Audit, we have not observed
any major weaknesses in internal control system of the company.
(v) In our opinion and according to the information and explanation given to us, The Company has not accepted
any deposits from the public in accordance with the provisions of section 73 to 76 of the act and rules
framed there under.
(vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the
Act, for any of the services rendered by the Company
(ix) In our opinion and according to the information and explanations given to us, the Company has not
defaulted in the repayment of dues to financial institutions, banks and debenture holders.
(x) In our opinion, and according to the information and the explanation given to us, the company has not given
any guarantee for loans taken by others from banks or financial institutions during the year.
(xi) The Term loans taken by the company have been applied for the purpose for which they were raised.
(xii) To the best of our knowledge and according to the information and explanations given to us, no fraud by
the Company and no material fraud on the Company has been noticed or reported during the year.
For P Rastogi & Co
Chartered Accountants
FRN: 028122N
Place: New Delhi
Date: 28.08.2017 Sd/-
CA Pyush Rastogi
Proprietor
Membership no. 091037
ACE INTEGRATED SOLUTIONS LIMITED
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20TH ANNUAL REPORT 2016-2017
Amount in Rs.
Note
Particulars 31.03.2017 31.03.2016
No
I. EQUITY AND LIABILITIES
(1) Shareholder's Funds
(a) Share Capital 1 50,000,000 25,000,000
(b) Reserves and Surplus 2 15,817,693 28,120,213
(c) Money received against share warrants - -
(2) Share application money pending allotment
(3) Non-Current Liabilities
(a) Long-term borrowings 3 13,914,671 18,100,389
(b) Deferred tax liabilities (Net) 4 906,798 303,019
(c) Other Long term liabilities - -
(d) Long term provisions - -
(4) Current Liabilities
(a) Short-term borrowings 5 66,831,132 43,875,021
(b) Trade payables 6 36,593,929 54,161,150
(c) Other current liabilities 7 16,657,983 25,551,295
(d) Short-term provisions 8 14,499,411 10,482,371
Total 215,221,617 205,593,458
II. ASSETS
(1) Non-current assets
(a) Fixed assets 9
(i) Tangible assets 22,075,999 26,811,362
(ii) Intangible assets - -
(iii) Capital work-in-progress - -
(iv) Intangible assets under development - -
(b) Non-current investments 10 5,422,875 300,000
(c) Deferred tax assets (net)
(d) Long term loans and advances 11 38,687,104 10,921,727
(e) Other non-current assets 12 - 150,000
(2) Current assets
(a) Current investments
(b) Inventories - -
(c) Trade receivables 13 61,954,604 114,157,650
(d) Cash and cash equivalents 14 42,534,186 27,078,497
(e) Short-term loans and advances 15 897,778 1,421,760
(f) Other current assets 16 43,649,071 24,752,462
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20TH ANNUAL REPORT 2016-2017
Statement of Profit and Loss for the year ended 31st March, 2017
Amount in Rs.
Note
Particulars 31.03.2017 31.03.2016
No
I. Revenue from operations 210,612,475 209,710,034
II. Other Income 17 2,291,387 938,954
III. Total Revenue (I +II) 212,903,862 210,648,988
IV. Expenses:
Expenses for Conduction of recruitment Examination 18 142,750,332 135,495,956
Changes in inventories - -
Employee benefit expense 19 7,923,286 11,845,080
Financial costs 20 4,634,423 4,177,008
Depreciation and amortization expense 21 6,211,575 6,329,499
Other expenses 22 29,554,987 30,849,601
Total Expenses 191,074,602 188,697,144
- -
IX. Profit before tax (VII - VIII) 21,829,260 21,951,844
X. Tax expense:
(1) Provision for Current tax 8,528,000 7,045,000
(2) Deferred tax Liability 603,779 216,577
(3) Income tax Adjustment - -
NOTES TO ACCOUNTS 23
Notes referred to above and notes attached there to form an integral part of Balance Sheet
Auditors' Report
As per our report of even date attached.
For ACE INTEGRATED SOLUTIONS LIMITED
For P. Rastogi & Co.
Chartered Accountants Sd/- Sd/-
FRN:028122N
CHANDRA SHEKHAR VERMA AMITA VERMA
Sd/- (Managing Director) (Director)
CA PYUSH RASTOGI DIN: 01089951 DIN: 01089994
Proprietor
Membership No. : 091037 Sd/- Sd/-
RANJEET SINGH ROHIT GOEL
(Company Secretary) (Chief Financial Officer)
Place : Delhi
Date : 28.08.2017
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20TH ANNUAL REPORT 2016-2017
Sd/- Sd/-
Date: 28.08.2017 RANJEET SINGH ROHIT GOEL
Place: Delhi (Company Secretary) (Chief Financial Officer)
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20TH ANNUAL REPORT 2016-2017
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SCHEDULE OF FIXED ASSETS FORMING PART OF BALANCE SHEET AT 31ST MARCH, 2017
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20TH ANNUAL REPORT 2016-2017
The details of Specified Bank Notes (SBN) held and transction during the period from 8th Novermber
2016 to 30th December 2016 are as provided in the table below
Other
SBNs Denomination Total
Notes
Closing Cash in Hand as on 08.11.2016 649500 6,480 655,980
Add Permitted Receipts 0 599,191 599,191
Less Permitted Payments 0 410,576 410,576
Less Amount Deposited in Bank 649500 - 649,500
Closing Cash in Hand as on 30.12.2016 0 195,095 195,095
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20TH ANNUAL REPORT 2016-2017
1) The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever
necessary.
2) All the investments made by the company are valued at Cost.
3) There are no inventories as the company is a service provider company.
4) In the opinion of Board of Director, the current assets, loans and advances have a value on realization
in the ordinary couse of business atleast equal to the amount at which they are stated in balance sheet.
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20TH ANNUAL REPORT 2016-2017
6) The balances sundry debtors, creditors, loans & advances are subject to confirmation. Adjustment if
any will be considered in the accounts in the year of such confirmation.
7) All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.
8) Value of Import on
CIF Basis Nil
9) Earnings in Foreign Exchange
(FOB Value) Nil
10) Expenditure in Foreign
Currency Nil
11) The company has made provision of Rs. 2,79,235/- for Accumulated Gratuity liability till 31/03/2017.
12) Earning Per Share:
Particulars 31-03-17
Net profit after tax available for Equity Shareholders (Rs.) (A) 12697481
Dilutive shares outstanding (Nos.) (C) 5000000
Nominal value per Equity Shares (Rs./ Share) 10
Basic Earnings per share (Rs./ Share) (A) / (B) 2.54
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20TH ANNUAL REPORT 2016-2017
=============================================
FORM NO. MGT-11
PROXY FORM
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the
Companies (Management and Administration) Rules, 2014]
Name of the member (s) : ____________________________________________________________________
Registered address : ____________________________________________________________________
E-mail Id : ____________________________________________________________________
Folio No/Client ID : ____________________________________________________________________
DP ID : ____________________________________________________________________
I/We, being the member (s) of ___________equity shares of the above-named company, hereby appoint
1. Name: __________________________________Address: ________________________________________________
E-mail Id: _______________________________Signature:_____________________________________ or failing him
2. Name: __________________________________Address: ________________________________________________
E-mail Id: _______________________________Signature:_____________________________________or failing him
3. Name: __________________________________Address: ________________________________________________
E-mail Id: _______________________________Signature:________________________________________________
As my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 20 th Annual General Meeting of the
company, to be held on Tuesday, the 26th day of September, 2017 at 9.00 a.m. at JP Hotel & Resorts, 6B, Patparganj, I.P.
Extension, NH-24, Delhi – 110092 and at any adjournment thereof in respect of such resolutions as are indicated below-
S. No. Resolution Optional
For Against
Ordinary Business
1 To receive, consider and adopt the Audited Financial Statements of the Company for the
financial year ended on 31st March, 2017 and Reports of Board of Directors and Report of
Auditors thereon.
2 To appoint a Director in place of Mrs. Amita Verma (DIN 01089994), who retires by
Rotation at this Annual General Meeting, and being eligible, offers herself for re-
appointment.
3 To appoint Sadana & Co., Chartered Accountants (FRN: 011616N) as statutory auditors of
the Company and in this regard to consider and if thought fit, to pass with or without
modification, the following resolution as an Ordinary Resolution.
Special Business
4 To Regularization of Mr. Vikram Gandhi (DIN: 06550307) as an Independent Director
Note:
1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the
Company, not less than 48 hours before the commencement of the Meeting.
2. For the Resolutions, Explanatory Statement and Notes, please refer to the Notice of 20 th Annual General Meeting.
3. It is optional to put an “X” in the appropriate column against the Resolutions indicated in the Box. If you leave the ‘For’
or ‘Against’ column blank against any or all Resolutions, your Proxy will be entitled to vote in the manner as he/she
thinks appropriate.
4. Please complete all details of member(s) in above box before submission.
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20TH ANNUAL REPORT 2016-2017
===========================================
20TH ANNUAL GENERAL MEETING OF ACE INTEGRATED SOLUTIONS LIMITED
ATTENDANCE SLIP
I/We hereby record my/our presence at the 20th Annual General Meeting of the Company held on
Tuesday, the 26th day of September, 2017 at 09.00 a.m. at JP Hotel & Resorts, 6B, Patparganj, I.P.
Extension, NH-24, Delhi – 110092.
______________________ _____________________
Name of the member/ proxy Signature of member/proxy
Notes:
1. Members/Proxy attending the meeting must complete this attendance slip and hand it over at
entrance.
2. Members are requested to bring their copies of the Annual Report to the Meeting.
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ROUTE MAP OF THE VENUE FOR 20TH ANNUAL GENERAL MEETING OF ACE
INTEGRATED SOLUTIONS LIMITED