-

TEXTILES Ltd.

CIN : L17119GJ1995PLC025007
Regd. Office 8 Factory : Plot No.3311.G.I.D.C.Phase IV,
Chhatral .(Dist . Gandhinagar)
Ph : (02764) 234008,
E - Mail : minaxitx@yahoo.com
Website : www.minaxitextiles.com

Date :21/09/2016

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SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

Plot No.C4-A,'G' Block,
Bandra Kurla Complex,
Bandra (East), Mumbai 400051.

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SUB : SECURITIES ALIDIT REPORT PERTAINING TO RECORDS AND SYSTEMS OF

SHAREPRO SERVICES INDIA PVT. LTD. IN THE MATTER OF MIS. MlNAXl
TEXTILES LIMITED.
Dear Sir1 Madam,
'The Securities and Exchange Board of lndia (SEBI) has passed Interim Order dated 2znd
March, 2016 against Sharepro Services (India) Pvt. Ltd. (Sharepro) linked with the management
of it and has directed, vide its Order under Para 1I,the clients of Sharepro to conduct a
thorough1 comprehensive audit of all the records and systems of Sharepro with respect to
dividend paid, transfer of securities as per the provisions of law etc. within the preceding atleast
10 years.
The company has appointed Mls. Ashok P. Pathak 8 Co., Company Secretaries, Ahmedabad,
vide resolution passed in its Board Meeting held on 13.08.2016 to conduct the said audit of
records and systems of the same as stated in the Interim Order of SEBI.
L

As MIS. Sharepro Services lndia Pvt. Ltd. have been appointed as companies RTA w.e.f. April,
2010, the audit period covers from OAS'April,2010 to 31" March, 2016.
We further inform that effective from closing hours of 30Ih June, 2016 the company has
terminated the services of Sharepro as RTA arid appointed Link Intime lndia Pvt. Ltd, having its
office at 13, Pannalal Sllk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai-400078 as
new RTA. Central Depository Services (India) .Limited and National Securities Depository
Limited have effected the Change in RTA by way of their letters issued to the company on 17Ih
June, 2016 and 27Ih July, 2016 respectively.

TEXTILES Ltd.
--

CIN : Ll7119GJl995PLC025007
Regd. Office 8 Factory : Plot No.3311,G.I.D.C.Phase IV,
Chhatral .(Dist . Gandhinagar)
Ph : (02764) 234008,
E - Mail : minaxitx@yahoo.com
Website : www.minaxitextiles.com
-

As per the SEBl directions, we submit herewith the Audit Report dated 20Ih ~eptember,2016
received from MIS. Ashok P. Pathak & Co., Company Secretaries, Ahmedabad. We like to
inform that the delay in submitting the Audit Report is occurred on account of procedure being
undertaken for change in RTA and it is not willful on the part of the company, and the
submission of Audit Report is within the extended time.
After reviewing the Audit Report we hereby inform that the company has decided not to take any
action against Sharepro.
You are kindly requested to take the above on your record.
For, Minaxi Textiles Limited

Bharatbhai P. Patel
Managing Director
DIN : 00161825

Encl : As above
Copy to :
(For information Please)

Bombay Stock Exchange Limited (BSE)

Floor 25, P. J. Towers, Dalal Street,
Mumbai 400 001

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F-904, Titanium City Certre, 100 ft. Anand Nagar Road,

Near Indian Oil Petrol Pump, Satellite, Ahmedabad - 380015
(0)079-26934123 Mobile : 09327002 122
E-mail : csashokppathak@gmail.com

Date : 2010912016

To,

Managing Director
Minaxi Textiles Limited
Plot No.3311, GIDC, Phase IV,
Chhatral, Tal. Kalol.
Dist. Gandhinagar - 382729.
SUE3 : REPORT OF THE SECURITIES AUDIT OF RECORDS AND SYSTEMS OF
SHAREPRO SERVICES (INDIA) PRIVATE LIMITED, AS PER SEBl INTERIM
ORDER NO. WTMIRKAIMIRSD214112016 DATED 22ND MARCH, 2016, IN THE
MATTER OF MlNAXl TEXTILES LIMITED.
RE : LETTER OF BSE BEARING NO. LCISEBINK/272/2015-16 DATED ~ I ~ ~ M A R C
6. H , ~ ~ ~
1. We have been appointed by MIS. Minaxi Textiles Limited (hereinafter referred to as
"the company"), bearing CIN : LA7119GJ1995PLC025007 vide their letter dated
13/08/2016, to carry out thorough audit of records and systems of Sharepro Services
(India) Pvt. Ltd. (hereinafter referred to as "Sharepro") acting as Registrar and Share
Transfer Agents (hereinafter referred to as "RTA") of the company, as per captioned
SEBI Interim Order dated 22"d March, 2016.

2. Sharepro were appointed as RTA of MIS. Minaxi Textiles Limited w.e.f. April, 2010.
Previously, Pinnacle Shares Registry Private Limited were RTA of the company.

3. In reference to Para 11 of the said Interim Order of SEBI, we have carried out the
comprehensive audit of the Records and Systems of Sharepro with respect to Dividend
paid and transfer of shares to determine whether shares have been transferred as per
the prescribed procedure of the applicable laws.
4. As the Sharepro were appointed as RTA from April, 2010, we have verified the relevant
records for the period from 01" April, 2010 to 31" March, 2016 (hereinafter referred to as
"Audit period" or "the said period").

:5. The company has terminated the services of Sharepro effective from closing hours of
3oth June, 2016 and appointed M/s. Link lntime India-Pvt. Ltd. as new Registrar and
Share Transfer Agent. As all the computerized and physical records / data are already
transferred to new RTA., we have conducted the comprehensive audit of the records
and systems of Sharepro during the said period at the Ahmedabad office of Link lntime
India Pvt. Ltd., Unit No. 303, 3rd Floor, Shoppers Plaza V, Opp. Municipal Iblarket,
Behind Shoppers Plaza II, O f f . C G Road, Ahmedabad-380009.

F-904, Titanium City Certre, 100 ft. Anand Nagar Road,

Near Indian Oil Petrol Pump, Satellite, Ahmedabad - 380015
(0)079-26934123 Mobile : 09327002122
E-mail : csashokppathak@gmail.com

6. We have followed the audit practice and processes as were appropriate to obtain
reasonable assurance about the correctness of the contents of the Secretarial Records.
The verification was done to ensure the correct process and procedures have been
followed in relation to dividend payment and transfer of shares as per the facts reflected
in the records under audit.
7. For the purpose of verification of compliance system of Sharepro in relation to Dividend
Payment out of unpaid1 unclaimed dividends of earlier years and transfer of shares, we
have verified various records maintained in computerized as well as in physical mode
including records as per Annexure I to this report pertaining to above said period1 audit
period.

8. IVo Dividend has been declared by the company since the Financial Year 2007-2008.
The Dividend Pay Out during the said period 1 audit period were from the Unpaid I
Unclaimed Dividend of earlier the years only. We have found no discrepancies in the
reconciliation of Dividend Payment during the said period.
Further, the amount remaining unclaimed for seven years was transferred to Investors
Education and Protection Fund (IEPF) by the company and from 29'h October, 2014.
onwards, there were no Unpaid1 Unclaimed Dividend.
9. Based on our examination and verification, we have report that none of the specified
persons named in the SEBl lnterim Order of 22"d March, 2016, are involved in any way
either as a transferor or transferee in the records of the company as well as were paid
dividend also during the said period 1 audit period.
Based on examination and according to the information given to us, we confirm that the
entire process of transfer I transmission of shares and dividend pay out took place
diligently and no violations are involved in respect of physical transfer 1 transmission of
shares, splitting, sub-division and consolidation of shareholdings. No case of issuance of
duplicate share certificates of the company was noticed during the said period.
10 Based on our verification of the Records1 Registers1 data maintained by Sharepro in
computerized manner as well as in physical mode, In our opinion and to the best of our
information and according to the explanations given to us by the RTA and
representatives of the company, its officers, agents during the conduct of our audit,

F-904, Titanium City Certre, 1 0 0 ft. Anand Nagar Road,

Near Indian Oil Petrol Pump, Satellite, Ahmedabad - 38001 5
(0)079-26934 123 Mobile : 09327002122
E-mail : csashokppathak@gmail.com

we hereby report that in our opinion during the audit period1 said period i.e. from 01''
April, 2010 to 31'' March, 2016, we have not come across any evidence establishing
deviation from standard practices and procedures followed for the purpose of payment of
dividend to the actual 1 beneficial holders of shares and transfer of shares as required
under the provisions of laws.
Thanking you,
Yours faithfullv,
For, Ashok P.*Pathak & Co.
Coni~anvSecretaries

* CS d h o k

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Proprietor
CP No. 2662

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'~Lsociate Member of the Institute of Company Secretaries of India, lCSl House, 22 institutional Area, Lodhi
Road, New Delhi-110003. website . wynwicsi.edy

IS

F-904, Titanium City Certre, 100 ft. Anand Nagar Road,

Near Indian Oil Petrol Pump, Satellite, Ahmedabad - 380015
(0)079-26934123 Mobile : 09327002122
E-mail : csashokppathak@gmail.com

ANNEXURE - I TO AUDIT REPORT DATED 2oT" SEPTEMBER, 2016

I.

Transfer and Transmission 1 Transposition

a)
b)
c)
d)
e)
f)

Register / Records of Share Transfer and Transmission I Transposition.

Physical Share Transfer Forms
Clbjections raised and clarifications sought from transferor I transferee.
Stop Transfer and legal cases, if any.
Signature Master / Records.
Transfer Summary / Inward and Outward Records for the period from 0lSt
April, 201 0 to 31" March, 2016.

11.

Duplicate Share Certificates and Reprinting of Share Certificate

a) Register / Records of Issue of Duplicate Shares, if any.
b) Splitting of Shareholdings
c) Consolidation/ sub-division of Shareholdings

Ill.

Dividend Payment / Reconciliation and Revalidation Process

a) Year wise Dividend Pay Out I Reconciliation Report during the period 01'
April, 2010 to 31" March, 2016.
b) Duplicate Dividend Warrants issued 1 Cancelled Dividend Warrants
records, if any.
IV.
V.

Requests of Change Address and Bank mandates.

Register / Records of deletion of name of the holder due to death, if any.