DSIIDC MAINTENANCE SERVICES LIMITED

Mission/Objective:
DSIIDC MAINTENANCE SERVICES LIMITED is established with the following primary objectives:

1. Contracting Services: The company will engage in contracting, sub-contracting, and quasi-
contracting for government, semi-government bodies, corporations, companies, societies, and
individuals. This includes various construction and civil works, such as building construction, road
development, infrastructure projects, and more.

2. Infrastructure Projects: DSIIDC MAINTENANCE SERVICES LIMITED will develop, maintain, and
operate infrastructure projects, including surface transport systems, highways, airports, seaports, water
supply projects, and more, following the Built-operate-maintain (BOM) model.

3. Construction and Maintenance: The company will engage in the construction, maintenance, and
development of turnkey construction projects, including civil, mechanical, electrical, and infrastructural
works. It also involves managing and controlling various types of properties and assets.

4. Real Estate Development: DSIIDC MAINTENANCE SERVICES LIMITED will undertake real estate
development, including building townships, markets, and other conveniences. The company will equip
these properties with necessary amenities and conveniences.

5. Contracting for Constructions: The company will act as contractors, sub-contractors, architects, and
designers for various construction and development projects for private and government sectors.

6. Business Collaboration: The company can collaborate with other entities and nominate directors,
controllers, or advisors for the management of related businesses.

7. Government Arrangements: DSIIDC MAINTENANCE SERVICES LIMITED can enter into arrangements
with government authorities to obtain charters, subsidies, loans, contracts, licenses, and other privileges
to further its interests.

Shareholders:
The company is authorized to issue a total of 1,00,000 Equity Shares of Rs. 10 each, resulting in an
authorized share capital of Rs. 10,00,000. The shareholders of the company will hold shares according to
their investments.
 S.No. Names, addresses, descriptions/ occupations of Number of shares taken
subscribers by each subscriber

Delhi State Industrial and Infrastructure Development

Corporation Limited having Registered Office: A/3-4,
1. State Emporium Building, Bawa Kharak Singh Marg,
Delhi - 110001 9,999
Through its Authorized Representative (Nine Thousand Nine
Mr. Chetan Bhushan Sanghi Hundred Ninety-Nine
S/o Mr. Ved Bhushan Sanghi Only)
R/o – A-51, Sector-10, R.K. Puram, New Delhi -110055
Occupation: Chairman cum Managing Director
2.
Chetan Bhushan Sanghi
(Nominee of Delhi State Industrial And Infrastructure 1
Development Corporation Limited) (One Only)
S/o Mr. Ved Bhushan Sanghi
R/o A-51, Sector-10, R.K. Puram, New Delhi-110055
Occupation: Service

TOTAL
10,000

In respect of the Company's fixed assets:

(a) The Company does not have any fixed assets as on 31.03.2022,
(b) There are no immovable properties held in the name of the company,
(c). There are no inventories held by the company as on 31.03.2022.
(d). The Company has not granted any loans, secured or unsecured, to companies, firms.

As for the reconciliation of shares outstanding at the beginning and end of the reporting period:

- Share Outstanding at the Beginning of the Year (2021-22): 10,000

- Shares Issued During the Year: None mentioned
- Shares at the End of the Year (2021-22): 10,000
Regarding the Reserve and Surplus:

- Surplus/(Deficit) in Statement of Profit and Loss (in ‘000 Rs.)

As at 31 March 2022 As at 31 March 2021 As at 31 March 2020
Opening Balance: -915.96 -878.56 -827.31
- Add: Profit/Loss for -43.93 -37.4 -51.25
the Year: -
- Closing Balance: -959.89 -915.96 -878.31

Financial indicator
(in ‘000 Rs.)
2019-20 2020-21 2021-22
Revenue from operations 0.0 0.0 0.0

Total expenses 51.25 37.40 43.93

PBT/PBIT/PBDITA/PAT -51.25 -37.40 -43.93
Current Liabilities 778.31 815.96 859.89
Total Equity/Net 0.0 0.0 0.0
worth/Total Asset
Equity share capital 100.00 100.00 100.00

Conclusion:

Based on the information provided, it is evident that DSIIDC MAINTENANCE SERVICES LIMITED has
ambitious objectives related to contracting, infrastructure development, real estate, and collaboration.
However, a thorough analysis of the company's financial and operational performance reveals several
key points:

1. Lack of Operational Activity: The company does not appear to be actively engaged in its stated
objectives, as there is no revenue from operations reported for the financial years 2019-20, 2020-21, and
2021-22. This suggests a lack of tangible business activities.

2. High Audit Fees: Similar to the previous case, DSIIDC MAINTENANCE SERVICES LIMITED incurs
significant expenses in the form of high audit fees relative to its reported income. This unfavorable cost-
to-income ratio contributes to its financial losses.

3. Continuous Losses: The company has been consistently incurring losses, with the closing balance of
surplus/(deficit) in the statement of profit and loss showing a decline over the years.
4. Absence of Assets and Inventories: The company does not possess any fixed assets, immovable
properties, or inventories as of March 31, 2022, indicating a lack of tangible assets associated with its
purported business activities.

Considering these factors, it is recommended that:

- Assess Operational Viability: DSIIDC MAINTENANCE SERVICES LIMITED should conduct a

comprehensive assessment of its operational viability. If there are no practical prospects for engaging in
contracting, infrastructure development, or real estate activities, it may be prudent to reconsider its
objectives.

- Review Expenses: The company should closely review its cost structure, especially audit fees and
professional fees. Exploring ways to reduce these expenses could help mitigate losses.

- Explore Strategic Alternatives: Given the lack of income from operations and continuous losses, the
company should explore strategic alternatives. This might include divestment of non-performing assets,
merging with another entity, or winding down operations.

- Consider Closure: If the company continues to incur losses without a clear path to achieving its
objectives, it may be advisable to consider formally dissolving the company.

In summary, DSIIDC MAINTENANCE SERVICES LIMITED appears to be an inactive company incurring

continuous losses primarily due to high audit fees and a lack of income from operations. A critical
evaluation of its objectives and financial sustainability is essential to determine its future course of
action, which may include the possibility of closure or restructuring.