41’ - paul merchants
TRANSCRIPT
41’ —NV
Paul Merchants Ltd.
cm : uwmuncmma
Corp. Dtlice. : PML House. 500 829-830. Sector 224“. Chandigam‘ieoflfl
Ph.0172-5041740,50417515041792 Fax : 0172-5041713
Head. Office : DSM 335, 336. 337, 3rd Floor. DLF Tower, 15, Shiva" Marg.
Natafgarn Road, New Balm-110015 Ph. : 01148702000
Corporate Relations Department,PML/BSE/CS/201“§’7‘7’i“£"”““"”“”‘
‘”'°°”‘“'”""‘""'"“
BSE Limited,Date: February 7, 2019
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai- 400001
SUB: OUTCOME OF BOARD MEETING—_—————
INTIMATION UNDER REGULATION §0 OF SEBI (LISTING OBLIGATIONS &
DISCLOSURE REQUIREMENT§) BEGULATIQNS, 2015 (“SEBI LODR Regulations"!
SCRIP CODE: 539113
TIME OF COMMENCEMENT: 12.00 PM.
TIME OF CONCLUSION: 03.45 PM.
Dear Sir,
In compliance with the provisions of Regulation 33 read with Regulation 30 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform your
good office that the Board of Directors of the Company in their duly convened meeting held
Today i.e. Thursday, the 7'“ Day of February, 2019 has inter alia discussed and approved
the following matters:
1. Approval of Standalone Un-audited Financial Results alongwith Standalone Segment
Results for the Quarter and Nine Months ended on December 31, 2018. Copy of the said
Results is attached herewith as Annexure - A
2. Taking note of Limited Review Report issued by Statutory Auditors of the Company on
the aforesaid results. Copy of the said Limited Review Report is attached herewith as
Annexure - B;
3. Appointment of Mr. Sat Paul Bansal as Chairman Cum Managing Director (DIN
00077499) (CMD) of the Company. Pursuant to the requirement of Regulation 30
read over with Para A (7) of Part A of Schedule III of SEBI LODR, Para A (7) of
Annexure I to SEBI circular no. ClR/CFD/CMD/4/2015 dated 09.09.2015, the required
information in this regard is given below:-
1. Name of Key Managerial Personnel (CMD)— Mr. Sat Paul Bansal
2. Reason for change— Re— Appointment
3. Date of re—appointment- 07-02-2019
4. Term of rte-appointment- From 01-04-2019 till 31-03-2024
5. Disclosure of relationships between directors — Mr. Sat Paul Bansal is husband of
Mrs. Sarita Rani Bansal, Director of the Company. He is father of Mr. Rajneesh
Bansal, Executive Director and Mr. Sandeep Bansal, Director of the Company. He is
not related to any other Director, Manager or Key Manageria sonnel of the
Company;2‘
;
CHAND\O'§/
WESTERN UNION l FOREIGN lTOURS It I
OUTBOUND IDOMESTIC
lINTERNATIONAL
W ------ - “nun: mnuaccn IInIlFV TRANSFER SIM CARD
6 Erleiproiile aAsPerAlmeura-C
4. Appointment oi Mrs ahupinder Kaui (PAN Asommr' FCA 505435) as Chiet
Financial orineer (cm) at the Company Pursuant to the requirement oi Regulaton so
read over with Para A 17) oi Pan A oi schedule I" oi SEE! LODR. Para A in oi
Annexuie I to SEEI oireular no ctR/cru/CMDM/zois dated 09 09 2M, the requirediniormation in this isgaid is given below;
Name oi Key Managerial Personnel (CFoi — Mrs enupinder KaurReason tor change — AppointmentDale 01 Appointment — 0770272019
Term oi appointment - Not iixed
lanei prohle . As Per Annexure . nmbumg5. Approval oi granung oi a loan to the Whoity Owned Subsldiary oi the Company i e Paul
Merchants Finance Private lened 1‘FMFPL'L in one or more iiaiichesi not exeeeoing a
sum at Rs so Croie (Rupees Eighty Crore enlyi Pursuant to the requirement oi
Regulation so read over with Para 3 mi oi Part A oi Schedule III oi SEBI LODP, Para9 (11) of Annexuie | to SEBI circular no ctR/cmrcmnrmots dated 09.09 2015 (asnearly as lads permit the required inluimailcn is given below -
A Name or pany to which such Loan is
given
Paul Merchants Finance Priuale
Limited t‘PMPPL‘)E Whether the promoteri promoter group/
group companies haue any interest in
this transaction? ii yesi nature oi interest
and details ihereoi and whether the
same is done at 'arms length?
ves
PMFPL is a Wholly Owned
Subsidiary Company at Paul
Merchants Limited. Funhei‘ Sh
Sat Poul Bansal and sh, RajneeshBansal, who are Directors oi the
Company are also Directors in
FMFPL. The proposedTransaction shall be on Aim‘s
Lenglh basis and a Oenmcate to
this elieet has already been issued
by the statutory Auditors oi the
Company, The matter has also
been approved by the Audn
Committee oithe Beard
Briei details oi Luan VIZ. tanei details oi
agreement entered (II any) inoludrno
significant terms and mndllions,
including amount oi Loan
Amount oi Loan , Rs 80 00
crores (Rupees Eighty crores
Onlyl in one or more Tranehas
. Pate oi intereet to be chaiged on
the Loans to be extended shall
not be less than the rate
specified under Sediun 155 and
186 oi the Companies Act, 2013
The amount oi the Loan shall be
used Dy the borrower strictly ior
its business operations
Repayable on Demand
impact at such Loan on listed entity. The impact an the Listed Entityshall not be material consideringthe size oi the Company and
rurther, the amount advanced to
the Wholly Owned SubsldlaryCompany shall he strictly used in
the business operations at theLafler in terms a! monetary value.the impact on Paul Merchants Ltd
may be taken as Rs 80.00 Crates
7(Rupees Eighty le’es only)
6. Approval oi Dmvlfllng of guarantee or securities in connection with any loan to begranted to the wholly owned Subsidiary at the Company i e Paul Merchants Flnanoe(Pvt) lelled tPMFPLi by any beinlu financial institution tor an amoum not exceed asum at Rs. too crore tRupees One Hundred Crore only) in addition to the existingGuarenlees/securilles Pursuant to the requirements ol Regulation 30 read over wtthPara 5 [11) ol Part A ot Schedule ill at SEE! LODR, Para 3 (11) of Annexure | toSEBI umular no. CIR/CFD/CMDWZDIS dated 0909 2015. the required lnfnrmalion is
given helm:-
Nerrie at party tor which such guaranteesor indemnity or surety was given
Paul MeEhants Flnance Fill/aleLimited (‘PMFPL'l (to be issued in
lulure)Whether the ommoter/ promoter gronp/group companies have any tntevesl in
this iranseotinn7 it yes, nature or interestand details thereor and whether the
same is done at “arms length"
vss
PMFPL is a wrioiry Owned
Suhsidlary Company oi PaulMerchants Limited Funher, Sh.
Sat Paul Bansal arid Sh. RaineeshBansai. who are Directors or the
Company are also Directors in
PMFPL The proposedTransaction shall he on Ann's
Length nests and a Cenmoate to
this erreoi has already been issued
by lite Statu'ny Auditors 01‘ the
Company the matter has also
been approved by the Audit
Committee ot the Board
Briei details at such guarantee or
indemnity or becoming a surety iiiz. briet
details at agreement entered in ethylincluding slgnificanl terms and
oondiiions, including amount at
guarantee
Amount of GusmnteysecuntyNol Exceeding Rs, 10000 Crores
(Rupees Hundred Crores Onlyi to
be issued in iuiure, in addition to
the extsllrlg Guamnleeu
Securities
Impact at such guarantees or indemnityor surety on listed entity
The impac1 on the Listed Entityshalt not be material wnsidiiingthe tact that it Will be a oontingenlLiahiiiw. only ooming into picture in
ease oi deiauit oommilled tryFMFPL in repayment ol its loan to
the oorieerned haniu financialinstitution in terms Di monetaryvalue, the Impact on Paul
Merchants Ltd, in that case will be
to the tune ot actual detauti try
FMFFL, whlch «or me pumnse cl(hls dlsclasure may be lalrerr as
Rs luo no Cmres (RupeesHundred Crures Only],
1. Appolnlmem of Mr, Anil Neg! (Membershlp No 46547 OF NO 17213) as Secretarial
Audltor of the Company Vor the Financial year 2019-20 Pursuanl to me
requlremems cl Regulalzorr 30 read over wllh Para A (7) of Pan A of Schedule III OVSEBI
LODR‘ Para A (7p 0! Annexuve I to SEEI circular no ClR/CFD/CMDWZUIS daled
0909,2015, the required informallun In this regard ls given helm:-
Name ollne Audllor — Mr, Anll Negl [secrezanal Audllov)Reason lor change _ AppointmentDale or Anpuinfment — 077022019
Term of appolnlmem , One Year lor lhe Financial year 2019-20Brier pmfile - As per Annex 71 — Eagnvm
Vou are requesled to lake lhe same on your records,
Thanking you‘
Vows lalmmlly.
For PAUL MERCHANTS LIMITED
(HARDAM SINGH)COMPANY SECRETARY
chso‘a
Encl:
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uMfiiD REVIEW usmm’
Reuiew Repon to
Board of Directors M
Paul Merchants lened,
We have reviewed the actompanying statement or Unaudited rinancial Iiesults dI paul Merchants
limited tor ttie duarter at Nine Months ended 31“ December, 2013 attacned nerewith being
submitted oy tne company pursuant to the requirement oi Regulallon 33 ol SEBI ttisttng opllgations
and disclosure Requirements) Regulafians, 2015, as modified by SEBI Circular No.
CIR/CFDIFAC/fi/lols dated Iuly 5, 2016.This statement Iias been prepared in accordance witn tne
recognition and measurement principles laid down in the Indian Accounting standard 34 “lme
Flnanaal Repnmnf‘ ("Ind AS wt prescriped under Sedion 133 ottlie companies Act, 2013 read witn
relevant laws Issued tliere under and other accounting Winclvle‘s generally accepted ‘in tndia and is
the responsioi ity uf tne company's Management and has been approyed by ttie aoard oI Directors,
our responsibility Is to issue a report on tnesennancial statements eased on our review
We conducted our review accordance with tne Standard on neuiew Engagement tsae) 24m,
Engagements to Iieyiew Interim nnancial Statements issued oy tne Institute ot cnartered Accountants
ol India nits standard requires tnat we plan and pertorm the review to obtain moderate assurance as
to wncttier the financial statements are tree ot material misnatement A review is limited primarily
to inquiries 01 Company personnel and analytical procedures applied to financial data anti ttius
proyides less assurance than an audit. w:L
eApress an audit opinion.
e not perlormed an audit and accordingly, we do not
Based on our reuiew conducted as apove, notning nas come to our attention tnat causes us to oelieye
tnat the accompanying statement oI unaudited rinancial Results prepared In accordanoe Witn
recognition and measurement princlples laid down in tne Indian Accounting Standard an “Interim
Financial Repnnmg" rind AS 341”) presumed under section 133 otttte companies Act, 2013 read with
releyam laws issued there under and otner accounting prinaples generally accepted in India has not
disclosed the intormation required to be disclosed in terms or Regulation 33 of tne SEEl tllsttng
obligations and Disclosure Requirements) Regulations, 2015 lmludlng tne manner In wnicli it .s to be
disdosed, ortnat it contains any material misstatement.
For JAIN & AssoclAles
CHAmRED Accouuums
rirm Rep. No.— 0.1361“Dame. 07.02.1019
(ed/«j(use IAIN
PAlrmcli
M. No. ”9471
ANNEXURE-C
BRIEF PROFILE SH. SAT PAUL BANSAL
Name: » Sh. Sat Paul Bansal
Father's Name— Late Sh. Eanarsi Dass
Qualificaiion - Graduaie In Ans
PresentlFarminanl Address- House No. 749, Sector 8, Chandlgafh460008Experience — more ihan 25 Years
Dale of First (Original) Appoinumm— 27—09—1990
Mr. Sat Paul Bansal is around 71 years of age and a Graduate in An: and has been
associated wim Peui Merchanis Limited fell over 26 years. He is the Promoter direcior &
Chairman Cum Managing Director onhe Company and ever since joining me Cumpany,has been spearheading all the material actlvhies oi the Company. He has been leadingthe iormuiaiion of strategy, corporate Policy, Corporate objectives and decusion makingprocess of Board through his active paritcipaiion. He also holds dlrecimship in various
other Companies as meniiuned beiow:
SI. Name 0' me CompaniesIBodies Naiure oi interest or
No. CorporahIFirmslassocialion 0' individuals concern/Change in
if 7 ,
interest a; concern
1 PAUL OVERSEAS PVT. LTD. DIRECTOR
2 PAUL ENERGY PROJECTS PRIVATE LIMITED DIRECTOR
3 PAUL MERCHANTS FINANCE PRIVATE LIMITED DIRECTOR
4 PAUL EXCURSIONS PRIVATE LIMITED DIRECTOR
5 PML HOLIDAYS PVT LIMITED DIRECTOR
6 PML REALTORS PVT LIMITED DIRECTOR
7 PAUL FAST REMIT PVT LIMITED DIRECTOR_>
B NAMSAT FINANCIAL SERVICES PRIVATE LIMITED DIRECTOR
9 HORIZON REMIT SDN. BHD. DIRECTOR
ANNEXURE-D
BRIEF PROFILE MRS. BHUPINDER KAUR
Mama: - Ms Ehupinder Kaur
Husband‘s Name — S Talvmder SinghQualification - FCA
,DISA
.8.00m
Prosont Address :-# 5‘ Ground Floor, Astha Enclave-2, Sector-127, Mohali
PAN A ASOFKSQZOF
Membership No, - FCA 508485
Experience — 12 years
M5. Bhupinder Kaur i5 8 Fellow member or Institute at Chanered Accountants of India
(ICAI). She is also a qualified systems auditor having undergone the Inlormatlon
Systems Audit course conducted by ICAI She is a Graduate in Commerce from MCM
DAV College for Women, Chandigarh. She is a praiessional wlttl more than 12 Years' or
experience In Flnanoe, Accounts, Taxatlon, Audit, Forelgn Exchange Management Act
(FEMA), Corporate Advisory and Internal Control functions She started her career with
Copal Research India Private Limited (now Moody's Analytics Knowledge Services) as
Financial analyst and research associate sewing investment banker clients for one
year, She moved on to join Deloitte Haskins & Sells. Gurgaon and sewed as Deputy
Manager - Taxation tar 4 years. She held the position or Departmental Head-Finance
and Accounts, Punjab Communications Lim'fled, Mohali a IIsted company and publicsector undertaking or Punjab Government for 4 years She has good exposure in Indian
GAAP, Finance, Accounts, Internal contrnls, Audll and Taxation.
are
ANNEXURE- E
BRIEF PROFILE
Name 0! Secretarial Auditor: - Anil Singh Negi (Proprietor ol Anil Negi & Company)Qualification:- Practicing Company SecretaryBranch Chum-Walla Cottage
Ground Fluor,Near Auckland Hotel,Lakkar Bazar Shimla H.P 171001
PAN Nov AHKPN2974K
GSTN: uzAHKPN2974K1zz
Clrlificate of Practice Numb": 17213
Mambfilship No. 46547
Experience:— 3 years
Anil Negi a. Company, a firm oi Company Secretaries, was established witn a view to provide
Corporate Secretarial a. otner consultancy services to clients We also deal in issues involvingcorporate restructuring and SEBI related matters.
Over a period at time the firm expanded and diversified its portfolio or services, m tandem With
the changing buslness envlrorlrnerit and client needs
We are providing a whole gamut oi services ranging irom Company lncorporation to Corporate
Restructuring, Issue management and nave been able to establish long lasting relationship with
our valued clients We serve 2 large and satisfied clientele profile lrorn servroes sector to
manotactunng indusines.
our Firm recognized let its prompt overnaui. Our Firm is been recognized lor rls young talent
and responsiveness. Firm is been nperated From Chandigarh l Shlmla. The organization is a
congregation 0f protessionaliy qualified and experienced persons wno are committed to ado
value and optimize the benefits accruing to clients We firm consists oi Company Secretaries,and many other protessional M10 are inter-linked with uni olganmatlun (mm the different citles
ot the Himachal Pradesh Our firm at Company secretary represents a coalltlon of specializedSkills that is geared to utter sound compliance solutions and adwces, Our firm is Dmvlding
services in tne various fields at registration and has maintained motivated work force, pliant
retenoon, nign integrity, dedication sincerity, quality oi service and proiessionalism Tnere are
employees working since the inception oi willing to play a long innings We boast or commitment
and loyalty at nur team Writ) lend us stability and success in the past and provide us the
confidence to move into luture Today, we are successfully handling the service solutions that
asstst us in providing complete guidance to customers at every individual stage as desired bythem. thin: helping un (whim/w high entintmtien lovalct
we earnesiiy requesi you to Klnuly mnsldar Us loi ueluw illeililuileu aeiviues and put tile name
0! our firm In the panel maintained.
About the Services altered:—
> Company Law proceedings in complex matters concerning oppression,
mismanagement, retusai to register transiers, investigation. lreeze on voting rights, etc,
§*%
“r Advlsory servloes in corporate law matters Includlng FEMA. foreign direct mvaslmem,
ECBS, takeovers, secumles laws, stamp {aw‘ etc
> Indirect laxallon — GST‘ Stale Excise Law
> Mergers, de-mergers, carpurane Ieslruclunng, schemes and arrangements,Company law form 5 such as mwrporation, shilling 0! registered omoes,
cumpoundmg o! oflences, eh: