Tulasee Bio-Ethanol Ltd is an Indian public limited company originally established for the **manufacturing of Liquid Chemicals**. While the company maintains its corporate identity, physical infrastructure, and listing status on the **BSE (Bombay Stock Exchange)**, it is currently navigating a period of operational dormancy. ### Current Operational Status and Asset Base The company is formally classified as **presently inactive** in its core manufacturing operations. Despite this lack of active production, the management maintains the essential physical and legal framework required for a potential restart or corporate action. * **Manufacturing Infrastructure:** The company’s primary asset base is located at **Plot No. 41/3 & 41/5, Village Lohop, Raigad, Maharashtra**. This site serves as both the registered office and the manufacturing facility. * **Asset Integrity:** Management maintains **proper records of fixed assets**, including comprehensive quantitative details and location tracking. All **title deeds for immovable property** are held securely in the name of the company. * **Inventory Management:** Even in its inactive state, the company conducts **physical verification of inventory** at reasonable intervals. Recent audits indicate that no material discrepancies have been reported between physical stock and book records. * **Regulatory Scope:** Due to its inactive status, the company is currently exempt from many specific industry-related operational laws, focusing instead on **standard corporate and statutory compliance**. ### Capital Structure and Shareholder Equity Tulasee Bio-Ethanol Ltd maintains a stable capital structure characterized by a lack of recent dilution. The company has not engaged in **buybacks, sweat equity issuances, bonus shares, or Employee Stock Option Plans (ESOPs)** in recent reporting periods. **Equity Position (as of June 2024):** | Particulars | Number of Shares | Amount (INR) | | :--- | :--- | :--- | | **Authorised Equity Share Capital** (Rs. **10** par) | **60,00,000** | **6,00,00,000** | | **Issued Equity Share Capital** (Rs. **10** par) | **60,00,000** | **6,00,00,000** | | **Subscribed and Paid-up Capital** | **58,93,100** | **5,89,31,000** | | **Less: Calls in Arrears** | — | **(6,10,200)** | | **Total Net Paid-up Capital** | **58,93,100** | **5,83,20,800** | **Key Financial Metrics:** * **Face Value:** Rs. **10** per equity share. * **Net Paid-up Value:** Approximately Rs. **5.83 Crore**. * **Arrears:** The capital reflects **Rs. 6,10,200** in calls in arrears, which is deducted from the subscribed capital to arrive at the net paid-up figure. ### Corporate Governance and Management Oversight The company operates as a **standalone entity** with no **Subsidiaries, Joint Ventures, or Associate Companies**. Governance is managed through a structured Board and specialized committees. * **Board Composition:** The Board consists of **four members**: * **1 Executive Director** * **1 Non-Executive Women Director** * **2 Non-Executive Independent Directors** * **Leadership:** **Mr. Kapil Nagpal** serves as the **Managing Director**. Management has recommended his re-appointment for a further **5-year term** to ensure leadership continuity. * **Audit Committee:** This committee is composed of **two Independent Directors** and **one Non-Executive Director**, providing oversight of financial reporting and internal controls. * **External Service Providers:** * **Statutory Auditors:** **M/s. A. C. Jhaveri & Associates** (Appointed through **2027**). * **Registrar & Transfer Agent (RTA):** **MUFG Intime India Private Limited** (formerly known as Link Intime India Pvt Ltd). ### Compliance Framework and Risk Profile As a listed entity, Tulasee Bio-Ethanol Ltd adheres to the **Indian Accounting Standards (Ind AS)**, preparing its financial statements on an **accrual basis**. It is specifically categorized as a **non-investment/non-banking** entity. * **Internal Audit Deficiency:** A notable area of non-compliance is **Section 138 of the Companies Act, 2013**. The company has **not yet appointed an Internal Auditor**, which remains a primary governance risk. * **Vigilance and Ethics:** The company has implemented a **Whistle Blower Policy (Vigil Mechanism)**. This framework allows directors and employees to report concerns regarding unethical behavior, actual or suspected fraud, or violations of the company’s code of conduct without fear of victimization. * **Financial Integrity:** Despite the lack of an internal auditor, the statutory auditors have noted that the company maintains adequate records and performs regular reconciliations of its physical assets and inventory.