MERCURY TRADE LINKS LIMITED

38TH ANNUAL REPORT

2022-23

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

Corporate Information

BOARD OF DIRECTORS

Mr. Viren Makwana : Additional Non-Executive Independent Director

Mrs. Payal Ronak Shah : Non-Executive Woman Independent Director

Ms. Priyanka K Gola : Additional Non-Executive Independent Director

Ms.Divya Bairwa : Additional Executive Director

KEY MANAGERIAL PERSONNEL

Ms. Ayushi Arvish Shah : Company Secretary & Compliance Officer

Ms.Divya Bairwa : Chief Financial Officer (CFO)

Mr. Ajaykumar Jagdishbhai Parmar : Chairman & Managing Director

Statutory Auditors

V S S B & Associates
(Formerly known as Vishves A. Shah & Co.
Chartered Accountants
A-912, Ratnaakar Nine Square, Opp. Keshavbaug Party Plot,
Vastrapur, Ahmedabad-380015

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

Registrar & Shares Transfer Agent

M/s Universal Capital Securities Private Limited

C-101, 247, Park, 1st Floor, L.B. Road,
Gandhi Nagar, Vikhroli West,
Mumbai-400083,
Maharashtra, India

Route map

Registered office

M/s Mercury Trade Links Limited

518 Swati Crimson and Clover Shilaj Circle
SP Ring Road Thaltej Ahmadabad City Ahmedabad GJ 380054 IN
Email: [email protected]
Website: www.mercurytradelinks.co.in

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 MERCURY TRADE LINKS LIMITED
CIN :L01100GJ1985PLC144317
Regd. Office: 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City
Ahmedabad GJ 380054 IN
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

NOTICE OF 38TH ANNUAL GENERAL MEETING

NOTICE is hereby given that the 38th Annual General Meeting of the Members of Mercury Trade
Links Limited will be held on Monday, 25th September, 2023 at 12:00 PM at the Registered Office
of the Company situated at 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej
Ahmadabad City Ahmedabad GJ 380054 IN to transact the following business:

Ordinary Business:

Item No 1: Adoption of financial statements

To consider and adopt the Audited Financial Statements of the Company for the Financial
Year ended March 31, 2023 and Reports of the Board of Directors and Auditors thereon.

Item No 2: To appoint a director in place of Mr AJAYKUMAR JAGDISHBHAI PARMAR

Managing Director (DIN: 09849131) who retires by rotation. Being eligible, he has offered
himself for re-appointment as a Managing Director of the Company. Accordingly, to consider
and, if thought fit, pass the following resolution as an ordinary resolution:

“RESOLVED THAT Mr AJAYKUMAR JAGDISHBHAI PARMAR [DIN: 09849131], who

retires by rotation and being eligible offers herself for reappointment be and hereby re-
appointed as Managing Director of the Company liable to retire by rotation.

Item No 3: To appoint Statutory Auditors to hold the office from the conclusion of this Annual
General Meeting till the conclusion of 43rd Annual General Meeting and to fix their
remuneration and in this regard to pass the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provision of section 139 and other applicable provision, if any,
of the Companies Act, 2013 read with the Companies (Audit and auditors) Rules, 2014 (including any
statutory modification, amendment or enactment thereof for the time being in force), M/s. VSSB &
Associates, Chartered Accountants (Firm Registration No. 0121356W) be and are hereby appointed as
the Statutory Auditors of the Company to hold the office from the conclusion of 38th Annual General
Meeting until the conclusion of the 43rd Annual General Meeting (AGM) of the company to be held in
the year 2028 at such remuneration plus applicable taxes and reimbursement of out-of-expenses in
connection with the Audit as may be mutually agreed between the Board of Directors of the company
and the Auditors.

RESOLVED FURTHER THAT any of the Directors of the Company be and is hereby authorised to
file and sign the necessary forms and documents with Registrar of Companies and to take all such
steps as may be necessary in this regard.
Special Business:

Item No 4: Appointment Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131], by appointing

him as Chairman and Managing Director of the company

To consider and if thought fit, to pass with or without modification (s), the following
Resolution (s) as a Special Resolution:

“RESOLVED THAT Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131], who was
appointed as Managing Director on the Board of Directors meeting held on 24th April, 2023
subject to the approval of shareholders in forthcoming Annual General Meeting, pursuant to
Section 196 and 203 of the Companies Act, 2013 and all other applicable provisions, if any
(including any statutory modifications or re-enactment thereof for the time being in force)
read with Schedule V of the Companies Act, 2013 and rule 7 (2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 and subject to such
other consent, approvals and permissions if any needed Mr. Ajaykumar Jagdishbhai Parmar
[DIN: 09849131] be and is hereby appointed as the Managing Director and Chairman of the
Company, liable for retire by rotation, for a period of Five year maximum upto 24th April,
2028”

“RESOLVED FURTHER THAT Board of Directors of the Company be and is hereby

authorised to take all the necessary steps or procedures to bring in effect the said resolution.”

Item No 5: Regularization of Additional Director Mr.VIREN MAKWANA [DIN: 09007676] as

Independent Director of the Company

To consider and if thought fit, to pass with or without modification (s), the following
Resolution (s) as an Ordinary Resolution:

“RESOLVED THAT, pursuant to provision of Section 149,150,152 read with Schedule IV to

the Companies Act,2013, and all other applicable provisions of the Companies Act, 2013 and
the Companies (Appointment and Qualification of Directors) Rules,2014 (including any
statutory modification(s) or re-enactment thereof for the time being in force) and Regulation
17 of SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015, Mr.VIREN
MAKWANA [DIN: 09007676] who was appointed as an Additional Director under the
category of Independent Director of the Company w.e.f 25th July,2023 in terms of Section 161
of the Companies Act,2013 and Article of Association of the Company 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 under section 160 of the Act proposing his candidature for the
office of the Director and declaration that he meets the criteria for independence as provided
in Section 149(6) of the Act and who is eligible for appointment, be and hereby appointed as
an Independent Director of the Company, not liable for retire by rotation to hold office for
five (5) consecutive years for the maximum period upto 25th July 2028.”

“RESOLVED FURTHER THAT Board of Directors of the Company be and is hereby

authorised to take all the necessary steps or procedures to bring in effect the said resolution.”
Item No 6: Regularization of Additional Director Ms. PRIYANKA K GOLA [DIN: 09384530]
as Independent Director of the Company

To consider and if thought fit, to pass with or without modification (s), the following
Resolution (s) as an Ordinary Resolution:

“RESOLVED THAT, pursuant to provision of Section 149,150,152 read with Schedule IV

to the Companies Act,2013, and all other applicable provisions of the Companies Act, 2013
and the Companies (Appointment and Qualification of Directors) Rules,2014 (including any
statutory modification(s) or re-enactment thereof for the time being in force) and Regulation
17 of SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015, Ms.
PRIYANKA K GOLA [DIN: 09384530] who was appointed as an Additional Director under
the category of Independent Director of the Company w.e.f 25th July,2023 in terms of Section
161 of the Companies Act,2013 and Article of Association of the Company 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 under section 160 of the Act proposing his candidature for the
office of the Director and declaration that he meets the criteria for independence as provided
in Section 149(6) of the Act and who is eligible for appointment, be and hereby appointed as
an Independent Director of the Company, not liable for retire by rotation to hold office for
five (5) consecutive years for the maximum period upto 25th July 2028.”

“RESOLVED FURTHER THAT Board of Directors of the Company be and is hereby

authorised to take all the necessary steps or procedures to bring in effect the said resolution.”

Item No 7: Regularization of Additional Director Ms.Divya Bairwa [DIN: 10284597] as

Executive Director of the Company
To consider and if thought fit, to pass with or without modification (s), the following
Resolution (s) as an Ordinary Resolution:
“RESOLVED THAT Ms.Divya Bairwa (DIN: 10284597), who was appointed as an
Additional Executive Director who holds office upto the date of this Annual General Meeting
in terms of Section of the Company by the Board of Directors with effect from August 22,
2023 as on 161(1) of the Companies Act, 2013 (the “Act”) and who is eligible for
appointment and has consented to act as Director of the Company and in respect of whom the
Company has received a notice in writing from a Member under Section 160 of the Act
proposing his candidature for the office of Director, be and is hereby appointed as a Director
of the Company.

“RESOLVED FURTHER THAT Board of Directors of the Company be and is hereby

authorised to take all the necessary steps or procedures to bring in effect the said resolution.”

By Order of the Board

For Mercury Trade Links Limited

SD/-
Ajaykumar Jagdishbhai Parmar
Managing Director
DIN:09849131

Date: 31st August, 2023

Place: Ahmedabad, Gujarat
 Notes to Annual General Meeting

1. A member entitled to attend and vote at the Annual General Meeting is entitled to
appoint a proxy to attend and vote instead of himself /herself and such proxy need not
be a member of the Company. The instrument appointing the proxy should, however, is
deposited at the registered office of the Company not less than forty-eight (48) hours
before the commencement of Meeting. A person can act as a proxy on behalf of not
exceeding 50 members and holding in aggregate not more than 10% of the total share capital
of the Company. However, 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 a proxy for any other or shareholders. A proxy form is sent herewith.

2. Route-map of the AGM venue, pursuant to the Secretarial Standard on General Meetings, is
also annexed.

3. During the period beginning 24 hours before the time fixed for the commencement of the
meeting and ending with the conclusion of the meeting, members would be entitled to inspect
the proxies lodged, at any time during the business hours of the Company, provided not less
than 3 days written notice is given to the Company.

4. The Register of Members and the Share Transfer Book of the Company will remain closed
from 19-09-2023 to 25-09-2023 (both days inclusive) for the purpose of Annual General
Meeting.

5. Corporate member intending to send their authorised representative to attend the meeting are
requested to send to the Company in advance, a duly certified copy of the Board resolution
/Power of Attorney authorizing their representatives to attend and vote on their behalf of the
Annual General Meeting.

6. Members, Proxies and authorized representative are request to bring their attendance slip,
duly filled in, for attending the meeting. Copies of the Attendance Slips will not be distributed
at the meeting. In case of joint holders attending the meeting, the members whose names
appear as the first holders in the order of names as per the Register of members of the
Company will be entitled to vote.

7. Only registered members of the Company or any proxy appointed by such registered member,
as on the cut-off date decide for the purpose, being 18-09-2023, may attend and vote at the
Annual General Meeting as provided under the provisions of the Companies Act.

8. In terms of Section 101 and 136 of the Companies Act, 2013 read together with the Rules
made there under, the listed companies may send the notice of Annual General Meeting and
the annual report, including financial statements, Board report, etc by electronic mode. The
Company is accordingly forwarding soft copies of the notice of Annual General Meeting and
Attendance Slip to all those members, who have registered e-mail ids with their respective
depository participants or with the share transfer agent of the Company. For Members who
have not registered their e-mail addresses, physical copies are being sent by permitted mode.
9. Once the vote on a resolution is cast by the members, the member shall not be allowed to
change is subsequently. Further, members who have casted their vote electronically shall not
vote by way of poll, if held at the meeting. To provide an opportunity to vote at the meeting to
the shareholders, who have not exercised the remote e-voting facility shall be provided
polling papers before the commencement of the meeting. Any person who is not a member as
on the cut-off date should treat this Notice for information purpose only.

10. The Securities and Exchange Board of India (SEBI) has mandated the submission of
Permanent Account Number (PAN) by every participant in securities market. Members
holding shares in electronic form are, therefore requested to submit their PAN to their
Depository Participants with whom they are maintaining their demat accounts. Members
holding shares in physical form can submit their PAN to the Company/RTA.

11. In compliance with the Circular No.3/2022 issued by the Ministry of Corporate Affairs
(‘MCA’) dated 5th May, 2022 and Circular No. SEBI/HO/CFD/CMD2/CIR/P/2022/62 dated
13th May, 2022, Notice of the AGM along with the Annual Report 2022-23 is being sent only
through electronic mode to those Members whose email addresses are registered with the
Company, Members may note that the Notice and Annual Report 2022-23 will also be
available on Company’s website www.mercurytradelinks.co.in and website of the Stock
exchanges i.e. www.bseindia.com.

12. Member who has not registered their e-mail addresses so far are requested to register their e-
mail address for receiving all communication including Notices, Circulars, etc. from the
Company.

Instructions and other information relating to e-voting are as under:

In compliance with the provision of Section 108 of the Companies Act, 2013 and Rule 20 of
Companies (Management and Administration) Rules, 2014 as substituted by the Companies
(Management and Administration) Amendment, Rules 2015, and Regulation 44 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, the company is
pleased to provide its members facility to exercise their right to vote at 38 th Annual General
Meeting by electronic means and the business may be transacted through e-voting services
provided by Central Depository Services Limited (CDSL).

(i) The voting period begins on 22-09-2023 (9:00 A.M. IST) and ends on 24-09-2023 (5.00
P.M. IST). During this period shareholders of the Company, holding shares either in
physical form or in dematerialized form, as on the cut-off date 18-09-2023 may cast their
vote electronically.

The e-voting module shall be disabled by CDSL for voting thereafter.

(ii) Shareholders who have already voted prior to the meeting date would not be entitled to
vote at the meeting venue.

(iii) The Shareholders should log on to the e-voting website www.evotingindia.com.

(iv) Click on Shareholders.

(v) Now Enter your User ID

a. CDSL: 16 digits beneficiary ID,
 b. Members holding shares in Physical Form should enter Folio Number registered with
the Company.
(vi) Next enter the image Verification as displayed and Click on Login.

If you are holding shares in demat form and had logged on to www.evotingindia.com and
voted on an earlier voting of any company, then your existing password is to be used.

(vii) If you are a first-time user follow the steps given below:

For Members holding shares in Demat Form and Physical Form

PAN Enter your 10-digit alpha-numeric PAN issued by Income Tax

Department (Applicable for both demat shareholders as well as
physical shareholders)

 Members who have not updated their PAN with the

Company/Depository Participant are requested to use the
first two letters of their name and the 8 digits of the
sequence number which is mentioned in address label as
sr. no affixed on Annual Report, in the PAN Field.
 In case the sequence number is less than 8 digits enter the
applicable number of 0's before the number after the first
two characters of the name in CAPITAL letters. E.g., If
your name is Ramesh Kumar with sequence number 1
then enter RAO0000001 in the PAN Field.

Dividend Bank Enter the Dividend Bank Details or Date of Birth (In
dd/mm/yyyy format) as recorded in your demat accounts or in the
Details OR Date of
company records in order to login.
Birth (DOB)

If both the details are not recorded with the depository or

company, please enter the member id/folio number in the
Dividend Bank details filed as mentioned in instruction.

(viii) After entering these details appropriately, click on “SUBMIT” tab.

(ix) Members holding shares in physical form will then directly reach the Company selection
screen. However, members holding shares in demat form will now reach ‘Password
Creation’ menu wherein they are required to mandatorily enter their login password in the
new password field. Kindly note that this password is to be also used by the demat
holders for voting for resolutions of any other company on which they are eligible to vote,
provided that company opts for e-voting through CDSL platform. It is strongly
recommended not to share your password with any other person and take utmost care to
keep your password confidential.

(x) For Members holding shares in physical form, the details can be used only for Evoting on
the resolutions contained in this Notice.

(xi) Click on the EVSN for the relevant <Company Name> on which you choose to vote.
(xii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same
the option “YES/NO” for voting. Select the option YES or NO as desired. The option
YES implies that you assent to the Resolution and option NO implies that you dissent to
the Resolution.

(xiii) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution
details.

(xiv) After selecting the resolution, you have decided to vote on, click on “SUBMIT”. A
Confirmation box will be displayed. If you wish to confirm your vote, click on “OK”, else
to change your vote, click on “CANCEL” and accordingly modify your vote.

(xv) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify
your vote.

(xvi) You can also take a print of the votes cast by clicking on “Click here to print” option on
the Voting page.

(xvii) If a demat account holder has forgotten the login password then Enter the User ID and the
image verification code and click on Forgot Password & enter the details as prompted by
the system.

(xviii) Note for Non — Individual Shareholders and Custodians

 Non-Individual shareholders (i.e., other than Individuals, HUF, NRI etc.) and
Custodian are required to log on to www.evotingindia.com and register
themselves as Corporate.
 Scanned copy of the Registration Form bearing the stamp and sign of the entity
should be emailed to [email protected].
 After receiving the login details a Compliance User should be created using the
admin login and password. The Compliance User would be able to link the
account(s) for which they wish to vote on.
 The list of accounts linked in the login should be emailed to
[email protected] and on approval of the accounts they would be
able to cast their vote.
 A scanned copy of the Board Resolution and Power of Attorney (POA) which
they have issued in favour of the Custodian, if any, should be uploaded in PDF
format in the system for the scrutinizer at e-mail ID [email protected] to
verify the same.

Once the vote on a resolution is cast by a Member, the Member shall not be allowed
to change it subsequently. Further, the Members who have cast their vote
electronically shall not be allowed to vote again at the Meeting.

13. In case you have any queries or issues regarding e-voting, you may refer the Frequently
Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.com, under
help section or write an email to [email protected].

For Members whose e-mail addresses are not registered with the Company Depositories:
 Members will receive a Ballot Form along with annual report. They have two options:

i.) To opt e - voting follow all steps from sr. no. (i) To (xix) above to cast vote.

OR
To opt for casting your vote in physical form, fill in the Ballot Form and drop it
in the ballot box in the meeting.
14. The voting rights of the Members shall be in proportion to the paid-up value of their shares in
the equity capital of the Company as on the cut-off date (i.e., the record date), being 23-09-
2022.

15. The Board of Directors has appointed M/s. Dharti Patel & Associates, Practicing Company
Secretaries, as a Scrutinizer to scrutinize the e-voting process (including voting through ballot
form at the venue of AGM) in a fair and transparent manner.

16. The Scrutinizer shall within a period not exceeding three (3) working days from the
conclusion of the e-voting period unblock the votes in the presence of at least two (2)
witnesses not in the employment of the Company and will make a Scrutinizer’s Report of the
votes cast in favour or against, if any, forthwith to the Chairman of the meeting.

17. The Results on resolutions shall be declared at or after the Annual General Meeting of the
Company and the resolutions will be deemed to be passed on the Annual General Meeting
date subject to receipt of the requisite number of votes in favour of the Resolutions.

18. The Results declared along with the Scrutinizer’s Report(s) will be available on the website of
the Company ( www.mercurytradelinks.co.in ) within two (2) days of passing of the
resolutions and communication of the same shall be made to BSE Limited, where the shares
of the Company are listed.

19. Redressal of complaints of Investor: The Company has designated an e-mail id:
[email protected] to enable Investors to register their Complaints, if any.

20. Important Communication to Members

As per the provisions of the Companies Act, 2013 the service of notice/documents including
Annual Report can be sent by e-mail to its members. Members who have not registered their
e-mail addresses, so far, are requested to register their e-mail addresses, Members who hold
shares in physical form are requested to fill the E-Communication Mandate Form and hand
over the same along with Attendance Slip at the Registration Counter of venue of Annual
General Meeting for registration of email address for receiving notice/documents including
Annual Report.
 By Order of the Board

For Mercury Trade Links Limited

SD/-
Date: 31st August, 2023
Ajaykumar Jagdishbhai Parmar
Place: Ahmedabad, Gujarat
Managing Director
DIN:09849131

ADDITIONAL INFORMATION ON DIRECTORS RECOMMENDED FOR

APPOINTMENT/RE-APPOINTMENT AS REQUIRED UNDER REGULATION 36(3) OF SEBI
(LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015.

Name of VIREN PRIYANKA K GOLA AJAYKUMAR DIVYA BAIRWA

Director MAKWANA JAGDISHBHAI
PARMAR
Date of first 25th July,2023 25th July,2023 4th January,2023 22nd August,2023
appointment
Term of Five (5) years Five (5) years Five (5) years Five (5) years
Appointment
Brief profile Mr. Viren Ms. Priyanka K Gola, is He is having more She is Arts
Rajeshkumar a qualified Company than 10 Graduate and
Makwana, is a Secretary from the years’experience in having 5 years of
qualified Company Institute of Company Agro related Experience in
Secretary (Associate Secretaries of India. She product. Management co-
Member) from the has also completed ordination
Institute of Company Bachelor of Law (LLB) plant operations
Secretaries of India. degree from saurashtra and plant erection,
He has also University. She has an Agro
completed Master of experience of more than Products, Edible
Law (LLM) degree 6 years in the field of Oil, spices, pluses
from Gujarat Corporate Law,
University. He has an Companies Act and
experience of more Other Law related
than 6 years in the matters
field of Corporate
Law,
Companies Act and
Other Law related
matters
Directorship/ 1. Bright Solar 1. Chartered Logistics NIL NIL
Partnership Limited Limited
in other 2. Padmanabh 2. City Crops Agro
companies Industries Limited Limited
3. Seacoast Shipping 3. Falcon
Services Limited Technoprojects India
4. Franklin Industries Limited
Limited
No. of shares NIL NIL NIL NIL
held in the
Company
DIN 09007676 09384530 09849131 10284597
Memberships Franklin Industries NIL NIL NIL
/Chairmanshi Ltd
ps of Audit
andStakehold Chairman of Audit
ers’Relations and Nomination and
hip Remuneration
Committees committee,Member
across Public of Shareholder
Companies Relationship
Committee

Seacoast Shipping
Services Ltd

Member of Audit
and Nomination and
Remuneration
committee,
Shareholder
Relationship
Committee,
Corporate Social
Responsibility
Committee

Padmanabh
Industries Limited

Member of Audit
Committee

Chairman of
Nomination and
Remuneration
committee

Bright Solar
Limited

Chairman of Audit
Committee,
Nomination and
Remuneration
committee,
Shareholder
Relationship
Committee
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT,
2013:

SPECIAL BUSINESS:

ITEM No. 4:

Appointment Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131], by appointing him as

Chairman and Managing Director of the company

Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131] was first inducted to the Board at the Board
Meeting held on 04th January,2023 and in the same meeting he was appointed as the Additional
Director. In terms of Section 161(1) of the Companies Act, 2013. Mr. Ajaykumar Jagdishbhai
Parmar [DIN: 09849131] can hold office only up to the date of the ensuing Annual General Meeting.
With respect to the same, the Company has received a notice in writing pursuant to the provisions of
Section 160 of the Companies Act, 2013 proposing his candidature for appointment as a Director of the
Company. Further, in the meeting held i.e., 24th April, 2023, the Board appointed Mr. Ajaykumar
Jagdishbhai Parmar [DIN: 09849131] as a Chairman and Managing Director of the Company, with
immediate effect, for a period of Five years, subject to the approval of the shareholders. The terms and
conditions of the appointment are set out in a draft Appointment letter to be issued to Mr. Ajaykumar
Jagdishbhai Parmar [DIN: 09849131] by the Company. The Board is of the opinion that the
appointment and presence of Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131] on the Board as the
Managing will be desirable, beneficial and in the best interest of the Company. The Board recommends
the resolution set out in item no. 3 of the accompanying Notice for approval and adoption of the
Members

ITEM No. 5:

Regularization of Additional Director Mr.VIREN MAKWANA (DIN: 09007676) as Independent

Director of the Company

Mr.VIREN MAKWANA [DIN: 09007676] was appointed as an Additional Independent Director with
effect from 25th July,2023, in accordance with the provisions of Section 161 of the Companies Act,
2013 read with the Articles of Association. Pursuant to Section 161 of the Companies Act, 2013, the
above director holds office up to the date of ensuring Annual General Meeting of the Company. The
Board is of the view that the appointment of Mr.VIREN MAKWANA [DIN: 09007676] on the
Company Board is desirable and would be beneficial to the Company.

None of the other Directors or Key Managerial Personnel of the Company and their respective relatives
except Mr.VIREN MAKWANA himself, in any way, concerned or interested, financially or otherwise,
in the proposed resolution.

The Board recommends that the resolution set out at item no. 4 be passed as an Ordinary Resolution.

ITEM No. 6:

Regularization of Additional Director Ms. PRIYANKA K GOLA [DIN: 09384530] as

Independent Director of the Company

Ms. PRIYANKA K GOLA [DIN: 09384530] was appointed as an Additional Independent Director
with effect from 25th July,2023, in accordance with the provisions of Section 161 of the Companies
Act, 2013 read with the Articles of Association. Pursuant to Section 161 of the Companies Act, 2013,
the above director holds office up to the date of ensuring Annual General Meeting of the Company. The
Board is of the view that the appointment of Ms. PRIYANKA K GOLA [DIN: 09384530] on the
Company Board is desirable and would be beneficial to the Company.
None of the other Directors or Key Managerial Personnel of the Company and their respective relatives
except Ms. PRIYANKA K GOLA herself, in any way, concerned or interested, financially or
otherwise, in the proposed resolution.

The Board recommends that the resolution set out at item no. 5 be passed as an Ordinary Resolution.

Item No 7: Regularization of Additional Director Ms.Divya Bairwa [DIN: 10284597] as

Executive Director of the Company

Ms. Divya Bairwa [DIN: 10284597] was appointed as an Additional Independent Director with effect
from 22nd August,2023, in accordance with the provisions of Section 161 of the Companies Act, 2013
read with the Articles of Association. Pursuant to Section 161 of the Companies Act, 2013, the above
director holds office up to the date of ensuring Annual General Meeting of the Company. The Board is
of the view that the appointment of Ms. Divya Bairwa [DIN: 10284597] on the Company Board is
desirable and would be beneficial to the Company.

None of the other Directors or Key Managerial Personnel of the Company and their respective relatives
except Ms. Divya Bairwa herself, in any way, concerned or interested, financially or otherwise, in the
proposed resolution.

The Board recommends that the resolution set out at item no. 6 be passed as an Ordinary Resolution

By Order of the Board

For Mercury Trade Links Limited

SD/-
Ajaykumar Jagdishbhai Parmar
Managing Director
DIN:09849131
Date: 31st August, 2023
Place: Ahmedabad, Gujarat
 MERCURY TRADE LINKS LIMITED
CIN - L01100GJ1985PLC144317
Regd. Office: 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City
Ahmedabad GJ 380054 IN
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

DIRECTORS’ REPORT

To,
The Members,
M/s Mercury Trade Links Limited
CIN: L01100GJ1985PLC144317

Your directors take pleasure in presenting the 38th Annual Report on the business & operation of your
Company together with Financial Statement for the year ended 31 st March, 2023

FINANCIAL PERFORMANCE (Rs. In Lakhs)

Current Year Previous Year

PARTICULARS 2022-23 2021-22

Gross Income 47.76 2.58

Less: Expenditure 47.09 11.39
Profit/(Loss) before Depreciation 0.67 (8.81)
Less: Depreciation 0 0.00
Net Profit /(Loss) before Tax and extra ordinary items 0.67 (8.81)
Less: Extra Ordinary Items 0 0.00
Net Profit (Loss) before Tax 0.67 (8.81)
Less: Provisions of Tax 0 0.00
Deferred Tax 0.04 0.00
Income Tax for Earlier years 0 0.98
Net Profit /(Loss) after tax 0.63 (9.97)
Other Comprehensive Income 0 0.00
Balance of Profit/(Loss) 0.63 (9.79)

OPERATIONS AND PERFORMANCE

During the year Company has total revenue of Rs. 47.76 Lakhs (Previous year Rs. 2.58 Lakhs) and
Profit of Rs 0.63 Lakhs (Previous year Loss of Rs. 9.79 Lakhs)

DIVIDEND

With a view to conserve resource for the company’s business activities, loss and requirement of the
working capital, Director’s regret to recommend any dividend on Equity Shares for the year.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

TRANSFER TO RESERVES

No amount is proposed to be transferred to reserves during the year under review.

CHANGE IN THE NATURE OF BUSINESS, IF ANY

The Company has changed its Nature of Business during the financial year from current object to

To carry on in India or elsewhere the business to manufacture, buy, sell, import, export, develop,
process, market, supply and to act as agent, distributor, stockists, wholesales, dealers, retailer or
marketers or otherwise to deal in all types, tastes, uses, descriptions of agro products, such as
fertilizers, manures, plant or animal foods, pesticides, including insecticides, herbicides or eedicides
and fungicides and all types of rice, maize, milo, seeds, cotton seeds, soyabeans, ground nuts, castors,
linseeds, sunflower, coconut, rapeseed, almond, sesamam, mustard, sea seed, grapeseed and to carry
on all activities to develop Agriculture and forest resources based industrial and also plant grow,
cultivate, product and raise plantations of various agriculture corps, forest and other plantation,
horticultural crops, Green house, net house, medical and aromatic plants in their own farms and /or
taken on lease. To Carry on the business as manufacture, importer and exporter, whole seller, retailer
and dealers of all type of agricultural and other commodities.

MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL

POSITION OF THE COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE
FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS
RELATE AND THE DATE OF THE REPORT:

There are no material changes and commitments affecting the financial position of the Company
which have occurred after March 31, 2023 till date of this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

INDUSTRY STRUCTURE AND DEVELOPMENTS

The Company is engaged in the Commercial Agriculture to deal in trading, export, import such
agricultural products.

India is known as “Land of Villages”. Near about 67% of India’s population live in villages. The
occupation of villagers is agriculture. Agriculture is the dominant sector of our economy &
contributes in various ways.

OPPORTUNITIES, THREATS, RISKS AND CONCERNS

The improvement in the global economic situation coupled with protection given by Indian
Government provides opportunity for growth and it is set to grow in Expected line Outlook. The
company expects the pressure on Quality Customer to continue due to competition

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

SEGMENT WISE OR PRODUCT WISE PERFORMANCE

The Company operates in single segment

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND
COMPANY'S OPERATIONS IN FUTURE

There are no significant material orders passed by the Regulators / Courts which would impact the
going concern status of the Company and its future operations.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE

FINANCIAL STATEMENTS:

This ensures orderly and efficient conduct of its business, including adherence to the Company’s
policies, safeguarding of its assets, prevention of errors, accuracy and completeness of the accounting
records and the timely preparation of reliable financial information.

The internal financial controls with reference to the financial statements were adequate and operating
effectively.

PRESENTATION OF FINANCIAL STATEMENTS

The financial performance of the Company for the year 2022-23 is described in the Directors' Report
under the head `Financial Performance of the Company'

DEPOSIT

The Company has not accepted any deposits to which provisions of Section 73 and 76 of the
Companies Act, 2013 and Rules made there under. There were no unclaimed or unpaid deposits as on
31st March, 2023
.

AUDITORS AND THEIR REPORTS:

A. STATUTORY AUDITOR:

M/s S M M P & Company, Chartered Accountants have tendered their resignation as

Statutory Auditors w.e.f. 23-09-2022 citing reasons that due to change in company’s
management they are unable to continue. This has resulted into a casual vacancy in the office
of Statutory Auditors of the Company as envisaged by Section 139(8) of the Companies Act,
2013. Casual vacancy caused by the resignation of auditor shall be approved by the
shareholders in General Meeting within three months from the date of recommendation of the
Board of Directors of the Company

The Board of Directors of the Company recommended the appointment of M/s V S S B &
Associates, Chartered Accountants (Firm Registration No. 121356W) as the Statutory
Auditors of the Company to fill the casual vacancy caused by the resignation of M/s S M M P
& Company Accordingly, shareholders’ approval by way of ordinary resolution is sought.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 M/s. V S S B & Associates, Chartered Accountants (Firm Registration No. 121356W), have
conveyed their consent for being appointed as the Statutory Auditors of the Company along
with a confirmation that, their appointment, if made by the members, would be within the
limits prescribed under the Companies Act, 2013 and shall satisfy the criteria as provided
under section 141 of the Companies Act, 2013

M/s. V S S B & Associates appointed as Statutory Auditor of the company to conduct the
audit for the period ended as on 31st March 2023, and was eligible to hold the office as
Statutory Auditor from the conclusion of the Extra-Ordinary General Meeting till the
conclusion of ensuing Annual General Meeting.

In this AGM, it is proposed to appoint M/s. V S S B & Associates from the conclusion of
38th Annual General Meeting until the conclusion of the 43rd Annual General Meeting
(AGM) of the company to be held in the year 2028

B. SECRETARIAL AUDITOR

Pursuant to the provision of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had
appointed M/s DHARTI PATEL & ASSOCIATES, Practicing Company Secretary to
undertake the Secretarial Audit of the Company for the Financial Year 2022-23 as required
under provision of sub-section 1 of section 204 of the Companies Act, 2013. The Company
has annexed with its Board’s Report, Secretarial Audit Report given by the Secretarial
Auditor as “Annexure 4”.

SHARE CAPITAL

During the year under review, your Company has not issued any shares. Consequently, the
Authorized Share Capital of the Company is Rs. 24,75,000/- comprising of 2,47,500 equity share of
Rs.10/- each and the issued, subscribed and paid-up Share Capital of the Company is Rs. 24,75,000/-
comprising of 2,47,500 equity share of Rs.10/- each fully paid up as at 31st March, 2022.

Your director state that no disclosure or reporting is required in respect of the following items as there
were no transaction/ events on these items during the year under review:

i) Issue of equity shares with differential rights as to dividend, voting or otherwise.

ii) Issue of sweat equity shares.
iii) Issue of employee stock options.
iv) Provision of money by company for purchase of its own shares by employees or by trustees for
benefit of employees.

FACILITY OF DEMATERIALIZATION

Your Company has obtained the ISIN INE319T01016 from both the depositories’ i.e., CDSL and
NSDL to facilities its shareholder to dematerialize their physical shares in to Demat Mode.

BOARD & COMMITTEES:

In accordance with the provisions of Section 152 of the Companies Act, 2013 and Articles of
Association of the Company,Mr AJAYKUMAR JAGDISHBHAI PARMAR (DIN 09849131)

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

Director of the Company, retires by rotation at the ensuing Annual General Meeting and being
eligible has offered himself for re-appointment.

Name of Designation Date of Remarks (if any)

Director/KMP appointment/Change in
S.N.
Designation /
Resignation
4 Pareshkumar Additional Director 16-08-2022 Appointment
Vasantray Sheth
5 Naishal Jatinkumar Additional 16-08-2022 Appointment
Talati Independent Director
6 Payal Ronak Shah Additional 16-08-2022 Appointment
Independent Director
7 Kalpesh Additional 16-08-2022 Appointment
Vishnuprasad Vyas Independent Director
8 Jayesh Laxmanbhai Company Secretary 16-08-2022 Appointment
Bhavsar & Compliance
Officer
9 Gopal Ramkrishna Director 16-08-2022 Resignation
Somani
10 Pradeep Kumar Director 16-08-2022 Resignation
Sarda
11 Parag Sarda Director 16-08-2022 Resignation
12 Rita Somani Director 16-08-2022 Resignation
13 Krishna Kumar Director 16-08-2022 Resignation
Moondra
14 Mahesh Toshniwal Manager 16-08-2022 Resignation
Ramnivas
15 Angad Dharamdev Chief Financial 16-08-2022 Resignation
Singh Officer (CFO)
16 Pareshkumar Chairman & 23-08-2022 Appointed as
Vasantray Sheth Managing Director Chairman and
Managing
Director of the
Company for
three years
subject to
approval of
shareholder in
General Meeting
Mr. Jatin Additional Non 27-09-2022 Appointment
Mahendrabhai Executive
Makani
Hemanshi Pathak CFO 12-10-2022 Appointment
Kanaiyalal Hiralal CEO 12-10-2022 Appointment
Modi
Harshil Shah Company Secretary 27-12-2022 Appointment
& Compliance
Officer
Jayesh Laxmanbhai Company Secretary 16-11-2022 Resignation
Bhavsar & Compliance
Officer

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 Ajaykumar Parmar Additional Director 04-01-2023 Appointment
Kanaiyalal Hiralal CEO 20-01-2023 Resignation
Modi
Pareshkumar Managing Director 24-02-2023 Resignation
Vasantray Sheth
Ajaykumar Parmar Managing Director 24-04-2023 Appointment
and CFO
Hemanshi Pathak CFO 24-04-2023 Resignation
Harshil Shah Company Secretary 28-04-2023 Resignation
& Compliance
Officer
Ayushi Shah Company Secretary 22-06-2023 Appointment
& Compliance
Officer
Mr. Naishal Independent Director 25-07-2023 Resignation
Jatinkumar Talati
Mr. Kalpesh Kumar Independent Director 25-07-2023 Resignation
Vishnu prasad Vyas
Mr. Viren Additional Non- 25-07-2023 Appointment
Rajeshkumar Executive
Makwana Independent Director
Ms. Priyanka K Gola Additional Non- 25-07-2023 Appointment
Executive
Independent Director
Mr. Jatin Non-Executive 10-08-2023 Resignation
Mahendrabhai Director of the
Makani Company:
Mr. KANAIYALAL CEO 10-08-2023 Resignation
HIRALAL MODI
Ms. DIVYA Additional Executive 22-08-2023 Appointment
BAIRWA Director
Ms. DIVYA CFO 22-08-2023 Appointment
BAIRWA
Mr. Ajaykumar CFO 26-08-2023 Resignation
Jagdish Bhai Parmar

DECLARATION BY AN INDEPENDENT DIRECTOR(S)

The company has received necessary declaration from each Independent Directors under Section
149(7) of the Companies Act, 2013, state that he/she meets the criteria of independence as laid down
in Section 149(6) of the Companies Act, 2013 and Regulation 25 of the Listing Regulations.

BOARD EVALUATION

In accordance with the provisions of the Companies Act, 2013 and Regulations of SEB] (LODR)
Regulations, 2015, the Board has carried out an annual performance evaluation of its own
performance, the directors individually as well as the evaluation of the working of its Audit
Committee, Nomination & Remuneration Committee and other Committees. The performance
evaluation of Independent Director was carried out by the entire Board excluding the Director being
evaluated.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION AND OTHER
DETAILS

The Nomination & Remuneration Committee of the Company leads the process for Board
appointments in accordance with the requirements of the Companies Act, 2013, the Regulations of
SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and other applicable
regulations and guidelines. The Board has, on the recommendation of the Nomination &
Remuneration committee, framed a policy for selection and appointment of Directors, Senior
Management and their remuneration.

The Nomination & Remuneration policy is available on the company website

www.mercurytradelinks.co.in. There has been no change in the policy since the last year.

BOARD MEETINGS

During the year Sixteen (16) meetings of the board of directors were held on the following date’s i. e.
30th May,2023 , 13th August,2022, 16th August, 2022, 23rd August,2022,2nd September,2022, 27th
September,2022, 12th October, 2022, 20th October,2023,14th November,2022, 16th November,2022,
27th December,2022, 4th January,2023, 20th January,2023,1st February, 2023, 24th February, 2023,3rd
March, 2023. The Company has adhered to the timeline of gap required to be maintained between
each of the Board meetings as prescribed under the Companies Act, 2013.

The details of the meeting of the Board held and attached during the Financial Year 2022-2023 is as
under:

Name of the Director Number of Board Number of Attended

Meetings held Board Meetings last AGM
attended
Pareshkumar Vasantray Sheth 16 12 No
Naishal Jatinkumar Talati 16 13 No
Kalpesh Vishnuprasad Vyas 16 13 No
Gopal Ramkrishna Somani 16 3 Yes
Pradeep Kumar Sarda 16 3 Yes
Rita Somani 16 3 Yes
Krishna Kumar Moondra 16 3 Yes
Parag Sarda 16 3 Yes
Jatin Makani 16 10 No
Ajaykumar Jagdishbhai Parmar 16 4 No

DIRECTORSHIP AND COMMITTEE MEMBERSHIP IN OTHER COMPANIES

None of the directors holds office as a director, including as alternate director, in more than twenty
companies at the same time. None of them has directorships in more than ten public companies. For
reckoning the limit of public companies, directorship of private companies that are either holding or
subsidiary companies of a public company are included.

As per the declarations received, none of the directors serve as an independent director in more than
seven listed companies and director in more than eight listed Companies.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

None of the directors was a member in more than ten committees, nor a chairman in more than five
committees across all companies, in which he was a director. For the purpose of considering the limit
of the committees on which a director can serve, all public limited companies, whether listed or not,
have been included and all other companies including private limited companies, foreign companies
and companies under section 8 of the Companies Act, 2013 have been excluded.

INDEPENDENT DIRECTORS' MEETING

As per Para VII (1) of Schedule IV to the Companies Act 2013, Independent Directors (IDs) are
required to hold at least one meeting without the attendance of non-independent directors and
members of management. During the FY 2022-23 Independent Directors meeting was held on 16 th
August,2022

AUDIT COMMITTEE

The Company has constituted an Audit Committee as required under Section 177 of the Companies
Act, 2013 read with regulation 18 of the SEBI (Listing Obligation & Disclosure Requirements)
Regulations, 2015 with Stock Exchange.

As on the end of Financial Year 2021-23 Audit Committee comprises of three Directors as under:
The Committee comprised of, Mrs. Payal Ronak Shah Chairman and Member and Mr. Ajaykumar
Jagdishbhai Parmar Member of the Committee, Mr. Naishal Jatinkumar Talati Member of the
Committee.

During the year under review, the 5 Audit Committee was held during Financial Year 2022-23.
The dates on which the said meetings were held are 30/05/2022, 13/08/2022, 27/09/2022,14/11/2022
and 01/02/2023.
Minutes of meetings of the Audit Committee are circulated to members of the Committee and the
Board is kept apprised.
Members of the Audit Committee have requisite financial and management expertise.
Audit Committee of the Board of Directors is entrusted with the responsibility to supervise the
Company’s internal financial controls and financial reporting process. The Composition and quorum
are in accordance with Section 177(8) of the Companies Act, 2013. All members of the Audit
Committee possess financial/accounting expertise/exposure.
Functions of the Audit Committee:
The Audit Committee, while reviewing the Annual Financial Statement also review the applicability
of various Accounting Standards (AS) referred to in Section 133 of the Companies Act, 2013.
Compliance of the Accounting Standard as applicable to the Company has been ensured in the
preparation of the Financial Statement for the year ended 31 st March, 2023.
The Audit Committee also oversees and reviews the functioning of Vigil Mechanism (implemented in
the Company as a Risk Management Policy and Whistle Blower Policy) and review the finding of
investigation in the cases of material nature and the action taken in respect thereof.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

NOMINATION AND REMUNERATION COMMITTEE

The Company has constituted a Nomination and Remuneration Committee as required under Section
178 of the Companies Act, 2013 read with regulation 19 of the SEBI (Listing Obligation &
Disclosure Requirements) Regulations, 2015.

The Board of Directors has adopted policy which lays down a framework in relation to remuneration
of Directors, Key Managerial Personnel and Senior Management of the Company. This policy also
lays down criteria for selection and appointment of Board Members. The same can be accessed on the
Company’s Website at www.mercurytradelinks.co.in.

MEETING AND ATTENDANCE:

As on the end of Financial Year 2021-23 Audit Committee comprises of three Directors as under:
The Committee comprised of, Mrs. Payal Ronak Shah Chairman and Member and Mr. Jatinbhai
Mahendrabhai Makani Member of the Committee, Mr. Naishal Jatinkumar Talati Member of the
Committee.

The Nomination and Remuneration Committee met Ten times during the Financial Year 2022-23.

The dates on which the said meetings were held are 16/08/2022,23/08/2022,27/09/2022,12/10/2022,
20/10/2022,27/12/2022,16/11/2022,04/01/2023,20/01/2023,24/02/2023.

STAKEHOLDER RELATIONSHIP COMMITTEE

The Company has constituted a qualified Stakeholder Relationship Committee as required under
Section 178 of the Companies Act, 2013 and applicable rules thereto and as per Regulation 20 of
SEBI (LODR), Regulations, 2015.
The Committee comprised of, Mrs. Payal Ronak Shah Chairman and Member and Mr. Jatinbhai
Mahendrabhai Makani Member of the Committee, Mr. Naishal Jatinkumar Talati Member of the
Committee.

MEETINGS AND ATTENDANCE

The Stakeholder Relationship committee met one time during the Financial Year 2022-23. The
Committee met on 23th August,2022. The necessary quorum was present for the Meeting.

POLICIES AND GOVERNANCE

CORPORATE GOVERNANCE

The reporting relating to Corporate Governance is not mandatory for your Company as per the
circular no.: CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 issued by the Securities and
Exchange Board of India and circular no.: DCS/COMP/10/2014-15 September 16, 2014, issued by
the BSE Limited and SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015. As
the paid-up Share Capital of the Company is less than 10 crores and its Net Worth does not exceed 25
crores as on 31st March, 2023. Hence, the Corporate Governance Report is not included in this
Report.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Vigil Mechanism of the Company is incorporated under Whistle Blower Policy. Protected
Disclosures can be made by a Whistle Blower through an e-mail or to the Chairman of the Audit
Committee. The Policy on Vigil Mechanism and Whistle Blower Policy can be accessed on the
Company’s Website at www.mercurytradelinks.co.in.

RISK MANAGEMENT

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. Major risks identified by the businesses and functions are systematically
addressed through mitigating actions on a continuing basis. These are discussed at the meetings of the
Audit Committee and the Board of Directors of the Company.

The Company’s internal control systems are commensurate with the nature of its business and the
size and complexity of its operations. These are routinely tested and certified by Statutory as well as
Internal Auditor. The Risk Management Policy of the Company is available on Company’s website at
www.mercurytradelinks.co.in.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

Considering the lower turnover, net worth and net profit of the Company, provision of Section 135 of
the Companies Act, 2013 is not applicable to your Company, hence it is not required to formulate
Corporate Social Responsibility policy during the year 2022-23.

POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION:

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligation and
Disclosure Requirements) Regulation, 2015, every listed entity shall frame a policy for
determination of materiality based on criteria specified in Securities and Exchange Board of India
(Listing Obligation and Disclosure Requirements) Regulation, 2015 duly approved by its board of
directors. Accordingly, your Company has adopted the same and made available on Company’s
website at www.mercurytradelinks.co.in

DOCUMENT RETENTION AND ARCHIVAL POLICY

Pursuant to Regulation 9 of Securities and Exchange Board of India (Listing Obligation and
Disclosure Requirements) Regulation, 2015, every listed entity shall have a policy for preservation of
documents, duly approved by its board of directors. Accordingly, your Company has adopted the
same. Policy is available on the website of the Company i.e., www.mercurytradelinks.co.in.

CODE OF CONDUCT FOR THE PREVENTION OF INSIDER TRADING

The Board of Directors has adopted the Insider Trading Policy in accordance with the requirements of
the SEBI (Prohibition of Insider Trading) Regulation, 2015.The Insider Trading Policy lays down the
guidelines and procedures to be followed, and disclosures to be made while dealing with the shares of
the Company, as well as the consequences of violation. The policy has been formulated to regulate,
monitor and ensure reporting of deals by employees and to maintain the highest ethical standards of
dealing in Company securities.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

The Insider Trading Policy of the Company covering code of practices and procedures for fair
disclosure of unpublished price sensitive information and code of conduct for the prevention of
Insider Trading is available on our website www.mercurytradelinks.co.in

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN

EXCHANGE EARNINGS AND OUTGO
As the Company is not engaged in any manufacturing activities and there was no technology
absorption and no foreign exchange earnings or outgo, during the year under review. Hence, the
information as required under Section 134(3) (m) of the Companies Act, 2013 read with The
Companies (Accounts) Rules, 2014 is to be regarded as Nil.

RELATED PARTY TRANSACTIONS

All Related Party Transactions (RPTs) which were entered into during the financial year were on an
arm’s length basis and were in the ordinary course of business and did not attract provisions of
section 188 of the Companies Act, 2013 and were also not material RPTs under regulation 23 of the
SEBI Listing Regulations, 2015. During the year 2022-23, as required under section 177 of the
Companies Act, 2013 and regulation 23 of the SEBI Listing Regulations, 2015, all RPTs were placed
before the Audit Committee for approval.

There were no transactions entered into with related parties, during the period under review, which
may have had any potential conflict with the interests of the Company. Accordingly, the disclosure of
Related Party Transactions as required under Section 134(3) (h) of the Companies Act, 2013 in Form
AOC-2 is not applicable.

SUBSIDIARY COMPANY:

As on March 31, 2023, the Company does not have any subsidiary.

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEE GIVEN AND

SECURITIES PROVIDED

However, the Company has not made/given loans, guarantees or provided securities to other bodies
corporate or persons falling under the provisions of section 186 of the Act during the year 2022-23.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

(PREVENTION, PROHIBITION & REDRESSAL) ACT 2013

Your Company is committed to provide a safe & conducive work environment to its employees and
has formulated ‘Policy for Prevention of Sexual Harassment’ to prohibit, prevent or deter any acts of
sexual harassment at workplace and to provide the procedure for the redressal of complaints
pertaining to sexual harassment, thereby providing a safe and healthy work environment. During the
year under review, no case of sexual harassment was reported. Policy is available on the website of
the Company i.e., www.mercurytradelinks.co.in.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 134(3) (c) of the Companies Act, 2013 with respect to the Director’s
Responsibility Statement, it is hereby confirmed:

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 i) That in preparation of Annual Accounts for the Year ended 31st March, 2023, the
applicable Accounting Standards have been followed along with proper explanation
relating to material departures.

ii) That the Directors have selected such Accounting Policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of state of affairs of the Company at the end of the Financial Year and of the
profit of the Company for that period.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities.

iv) That the Directors have prepared the Annual Accounts on a going concern basis.

v) The Directors had laid down Internal Financial Control to be followed by the Company
and such internal financial controls are adequate and were operating effectively.
vi) The Directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such system was adequate and operating effectively.

INDIAN ACCOUNTING STANDARDS

Our company has adopted Indian Accounting Standard (Ind AS) notified by MCA and the relevant
provision of the Companies Act, 2013 and the general circulars issued by the Ministry of Corporate
Affairs from time to time. The significant accounting policies which are consistently applied have
been set out in the notes to the Financial Statements.

SECRETARIAL STANDARDS OF ICSI

Pursuant to the approval given on 10 April 2015 by the Central Government to the Secretarial
Standards specified by the Institute of Company Secretaries of India, the Secretarial Standards on
Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) came into effect from 1 July
2015. The Company is in compliance with the same.
DETAILS OF NON-COMPLIANCE/ PENALTIES/ STRICTURES IMPOSED ON THE
COMPANY BY THE STATUTORY AUTHORITIES:

The Company has complied with the requirements of the Stock Exchanges, Securities and Exchange
Board of India and other statutory authorities on all matters relating to capital markets during the last
three years and no penalties or strictures have been imposed on the Company by any Stock Exchange,
Securities and Exchange Board of India or other statutory authorities.

COMPLIANCE OF MANDATORY AND DISCRETIONARY REQUIREMENTS:

Mandatory

The Company has fully complied with the mandatory requirement of the SEBI Listing Regulations,
2015.
MEANS OF COMMUNICATION:

The quarterly and annual financial results are sent to the Stock Exchanges immediately after they are
approved and taken on record by the Board of Directors. These financial results are published in

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

leading dailies such as Business Standard (English), having all India coverage and ‘Global Times’
(Marathi), local newspaper and are also made available on the website of the Company,
‘www.mercurytradelinks.co.in’ and on BSE website (www.bseindia.com Scrip Code: 512415). The
Company displays official news releases as and when situation arises. Email id:
[email protected] Annual Reports are dispatched to all the shareholders.

MAXIMUM TENURE OF INDEPENDENT DIRECTORS

The maximum tenure of independent directors is in accordance with the Companies Act, 2013 and
regulation 25(2) of the SEBI Listing Regulations, 2015.
PERFORMANCE EVALUATION

Pursuant to the provisions of Section 178 of the Companies Act, 2013 and as per Regulation 17 of
Securities Exchange Board of India (Listing obligations & Disclosure Requirements) Regulations,
2015, the Board has carried out annual performance evaluation of its own performance, the directors
individually as well as evaluation of working of committees of Board of Directors.

Independent Directors, being evaluated by entire board except of Director being evaluated, on
meeting their obligations connected with their independence criteria as well as adherence with the
requirements of professional conduct, roles, functions and duties specifically applicable to
Independent Directors as contained in Schedule IV to the Companies Act, 2013.

Chairman and other Non-Independent Directors were being evaluated by Independent Director, who
also reviewed the performance of secretarial department. Performance evaluation of the Committees
and that of its members in effectively discharging their duties, were also being carried out by board.
STATUTORY DISCLOUSURE

Details as required under the provisions of section 197(12) of the Companies Act, 2013, read with rule
5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are
placed on the Company’s website www.mercurytradelinks.co.in. A physical copy of the same will be
made available to any shareholder on request.
Details as required under the provisions of section 197(12) of the Companies Act, 2013, read with
rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, will be made available to any shareholder on request, as per provisions of section 136(1)
of the said Act.

APPRECIATIONS AND ACKNOWLEDGEMENTS

The Board of directors’ places on record its sincere appreciation for the dedicated efforts put in by all
employees, their commitment and contribution at all levels, in most difficult and challenging
environment during the year. Your directors would like to record their sincere appreciation for the
support and co-operation that your Company received from business associates and other strategic
partners of the company.

Your directors wish to place on record their sincere appreciation and thanks for the valuable co-
operation and support received from the Registrar of Companies, Maharashtra, Regional Director,
Western Region, Ministry of Company Affairs, Company’s bankers, financial institutions, Regulatory
Authorities, Stock Exchanges and shareholders at large and look forward to the same in greater
measure in the coming years.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

Your directors also wish to place on record their appreciation of the devoted services of the
company’s employee, which have in great way contributed to the Company’s progress.

For and on behalf of

Mercury Trade Links Limited

Sd/-

__________________
Ajaykumar Jagdishbhai Parmar
Managing Director
DIN: 09849131

Place: Ahmedabad, Gujarat

Date: 31st August, 2023

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 MERCURY TRADE LINKS LIMITED
CIN - L01100GJ1985PLC144317
Regd. Office: M/s Amar Elec Eng. Co. Pushpa Park, Daftary Road, Malad,
Mumbai-400064, Maharashtra, India
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

GENERAL SHAREHOLDER’S INFORMATION:

Date, Time and Venue of AGM: Monday,25th September ,2023

at 12:00 PM at 518 Swati Crimson and Clover
Shilaj Circle SP Ring Road Thaltej Ahmadabad
City Ahmedabad GJ 380054 IN
Book Closure 19-09-2023 to 25-09-2023

Financial Year 1st April, 2022 to 31st March, 2023

Listing of shares with Stock Exchanges BSE Limited

Stock Code: BSE Script code: 512415
ISIN No. INE319T01016
Registrars and Share Transfer Agent Universal Capital Securities Private Limited
C-101, 247 Park, 1st Floor, LB S Road,
Gandhi Nagar, Vikhroli West,
Mumbai 400083
Pursuant to the SEBI Listing Regulations, 2015, the Company has entered into a Uniform Listing Agreement with
BSE. The company hereby confirms that the listing fee for the year 2022-23, payable to the stock exchanges
pursuant to SEBI Listing Regulations, 2015, in which the company’s shares are listed, have been paid within the
prescribed time limit.

DIVIDEND:

To conserve resources, your directors have not recommended any divided-on equity shares for the year ended
31st March, 2023

SHARE TRANSFER SYSTEM:

The applications for transfers, transmission and transposition are received by the Company at its Registered
Office address or at M/s. Universal Capital Securities Private Limited, Registrar and Transfer Agents of the
Company. As the Company’s shares are currently traded in demat form, the transfers are processed and
approved by NSDL/CDSL in the electronic form through its Depository Participants having ISIN No:
INE319T01016. The Registrar & Share Transfer Agent on a regular basis processes the physical transfers and
the share certificates are being sent to the respective transferees.

OUTSTANDING GDRS/ ADRS AND THEIR IMPACT ON EQUITY:

The Company has not issued GDRs, ADRs, Warrants or any convertible Instruments.

INVESTORS RELATION SECTION:

Investors grievances/queries may be addressed to the:

Company Secretary / Compliance Officer,
Mercury Trade Links Limited
518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej
Ahmadabad City Ahmedabad GJ 380054 IN
E-mail: [email protected]
Website: www.mercurytradelinks.co.in

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

NOMINATION FACILITY:

Section 72 of the Companies Act, 2013 facilitates shareholders to make nominations in respect of shares held by
them, Shareholders holding shares in physical form who are desirous of making a nomination are requested to
send their requests in prescribed Form No. SH-13 to the Company's Registrar and Share Transfer Agent.
Shareholders holding shares in electronic form are requested to give their nomination request to their respective
Depository Participants directly.

Form No. SH-13 can be obtained from the Company’s Registrar and Share Transfer Agent.

RECONCILIATION OF SHARE CAPITAL AUDIT REPORT:

As stipulated by SEBI, a qualified practicing Company Secretary carries out Reconciliation of Share Capital
Audit to reconcile the total admitted capital with NSDL and CDSL and the total issued and listed capital. This
audit is carried out every quarter and the report thereon are submitted to the Listed Stock Exchanges. The audit
confirms that the total listed and paid-up capital is in agreement with the aggregate of the total number of shares
in dematerialized form (held with NSDL and CDSL) and the total number of shares in physical form.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 FORM NO. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31st March, 2023

.
(Pursuant to Section 204(1) of the Companies Act, 2013 and rule No.9 of the
Companies (Appointment and Remuneration of Managerial Personnel Rules, 2014)

To,
The Members,
Mercury Trade Links Limited
CIN No: L01100GJ1985PLC144317
518 Swati Crimson and Clover Shilaj Circle, SP Ring Road
Thaltej Thaltej Road Ahmadabad City Ahmedabad GJ 380054 IN

I have conducted the Secretarial Audit of compliance with the applicable statutory
provisions and the adherence to good corporate practices by Mercury Trade Links
Limited (CIN No: L01100GJ1985PLC144317) (hereinafter called the Company).
Secretarial Audit was conducted in a manner that provided me a reasonable basis for
evaluating the corporate conducts /statutory compliances and expressing my opinion
thereon.

Based on my verification of the Company’s books, papers, minute books, forms and
returns filed and other records maintained by the Company and also the information
provided by the Company, its officers, agents and authorized representatives during the
conduct of secretarial audit, I hereby report that in my opinion, the Company has during
the audit period covering the financial period from 01st April 2022 to 31st March, 2023
complied with the statutory provisions listed hereunder and also that the Company has
proper Board-Processes and compliance- mechanism in place to the extent, in the
manner and subject to the reporting made hereinafter.

I have examined the books, papers, minute books, forms and returns filed and other
records maintained by the Company for the financial period from 01st April 2022 to
31stMarch, 2023 according to the provisions of:

(i) The Companies Act, 2013 (the Act) including amendments thereof and the
rules made there under;

(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made
there under;

Page 1 of 6
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there
under;

(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made
there under to the extent of Foreign Direct Investment, Overseas Direct
Investment and External Commercial Borrowings; (Not Applicable since the
Company does not have any FDI,ODI or ECB);

(v) The following Regulations and Guidelines prescribed under the Securities and
Exchange Board of India Act, 1992 ('SEBI Act') :

a) The Securities and Exchange Board of India (Substantial Acquisition of Shares

and Takeovers) Regulations, 2011;

b) The Securities and Exchange Board of India (Prohibition of Insider Trading)

Regulations, 1992 (now known as SEBI (Prohibition of Insider Trading)
Regulation 2015.

c) The Securities and Exchange Board of India (Delisting of Equity Shares)

Regulations, 2009; Not applicable as there was no reportable event during the
financial year under review;

d) The Securities and Exchange Board of India (Buy-back of Securities) Regulations,

2018; Not applicable as there was no reportable event during the financial
year under review;

e) The Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2018; Not applicable as there was no reportable
event during the financial year under review;

f) The Securities and Exchange Board of India (Issue and Listing of Debts
Securities) Regulations, 2008; Not applicable as there was no reportable event
during the financial year under review;

g) The Securities and Exchange Board of India (Employees Stock Option Scheme
and Employees Stock Purchase Scheme) Guidelines, 1999 and/or SEBI (Share
Based Employee Benefits) Regulations, 2014. Not applicable as there was no
reportable event during the financial year under review;

h) The Securities and Exchange Board of India (Registrar to an Issue and Share
Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing
with the client.

(i) The Securities and Exchange Board of India (Depositories and Participants)
Regulations, 2018;

Page 2 of 6
(vi) The Acts / Guidelines specifically applicable to the Company:

Taking into consideration, business activities of the Company, there are no

specific regulator / law which were specifically applicable to the Company and
hence no comment was provided in respect of the same. We have verified
existing systems and mechanism which was followed by the Company to ensure
compliance of other applicable Laws like Labour Laws, Environmental Laws etc.
and have relied on the representation made by the Company and its officers in
respect of compliance of the provisions of these Laws and compliances of other
applicable Acts, Laws and Regulations and found them to be satisfactory.

I have also examined compliance with the applicable clauses of the following:

a) Secretarial Standards with respect to Meetings of Board of Directors (SS-1) and

General Meetings (SS-2) issued by The Institute of Company Secretaries of India;

b) The Listing Agreements entered into by the Company with BSE Limited and SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.

I have relied on the representation made by the Company and its officers for the
systems and mechanisms formed by the Company for compliances under
applicable Acts, Rules, Laws and Regulations to the Company.

During the year under review the Company has complied with the provisions of
the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above, subject
to the following observation:

I further report that

The Board of Directors of the Company is duly constituted with proper
balance of Executive Directors, Non-Executive Directors and Independent
Directors. The changes in the composition of the Board of Directors that took
place during the period under review were carried out in compliance with the
provisions of the Act.

Adequate notice is given to all Directors to schedule Board Meetings through

Hand Delivery and Email; agenda and detailed notes on agenda were sent at
least seven days in advance and a system exists for seeking and obtaining
further information and clarifications on agenda items before the meeting
and for meaningful participation at the meeting;

Page 3 of 6
I further report that based on the information provided by the Company, its officers and
authorized representatives during the conduct of the audit, in my opinion adequate
systems and processes and control mechanism exists commensurate with the size and
operation of the Company to monitor and ensure compliance with applicable laws,
rules, regulations and guidelines.

I further report that during the audit period, there was no other specific
event/action in pursuance of the above referred laws, rules, regulations, guidelines,
etc. referred to above, having major bearing on the Company's affairs.

I further state that following list of the documents were verified:

1) MOA and AOA of the Company;

2) Annual Report for the financial year 2022;
3) Minutes of the meetings of Board of Directors, Audit Committee, Nomination and
Remuneration Committee, Stakeholders Relationship Committee, held during the year;
4) Minutes of the General meeting and Postal Ballots held during the financial year
under report;
5) Signed Attendance Sheet;
6) Agenda papers submitted to all directors/members for the board meetings and
committee meetings;
7) Intimations received from the Directors of the Company pursuant to the provisions of
section 184 and 149 of Companies Act, 2013;
8) E-forms filed by the Company from time to time under the applicable provisions of
the Companies Act, 2013 and attachments thereof during the financial year under
report;
9) Intimations/documents/reports/returns filed with stock exchanges pursuant to
provisions of the SEBI LODR/ Companies Act, 2013;

I further report that during the audit period there were no instances of:

(i) Public / Debentures / Sweat Equity.

(ii) Redemption / buy-back of securities.
(iv) Merger / Amalgamation / reconstruction etc.
(v) Foreign technical collaborations.

Page 4 of 6
For M/s Dharti Patel and Associates
Company Secretaries

Sd/-
Dharti Patel
M. No. FCS
C.P. No. 19303
Place: Ahmedabad
Date: 31/08/2023
UDIN: F012801E000909763

This report is to be read with my letter of even date which is annexed as Annexure A
and forms an integral part of this report.

Page 5 of 6
 Annexure-A

To,
The Members,
Mercury Trade Links Limited
CIN No: L01100GJ1985PLC144317
518 Swati Crimson and Clover Shilaj Circle, SP Ring Road
Thaltej Thaltej Road Ahmadabad City Ahmedabad GJ 380054 IN

My report of even date for the financial from 01st April 2022 to 31st March, 2023 is to
be read along with this letter.

1. Maintenance of secretarial record is the responsibility of the management of the

company. My responsibility is to express an opinion on these secretarial records
based on my audit.
2. I have followed the audit practices and processes as were appropriate to obtain
reasonable assurance about the correctness of the contents of the Secretarial
records. The verification was done on test basis to ensure that correct facts are
reflected in secretarial records. I believe that the processes and practices, I
followed provide a reasonable basis for my opinion.
3. I have not verified the correctness and appropriateness of financial records and
Books of Accounts of the Company.
4. Where ever required, I have obtained the Management representation about the
compliance of laws, rules and regulations and happening of events etc.
5. The Compliance of the Provisions of Corporate and other applicable laws, rules,
regulations, standards is the responsibility of management. My examination was
limited to the verification of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the
Company nor of the efficacy or effectiveness with which the management has
conducted the affairs of the company.

Sd/-
Dharti Patel
M. No. FCS
C.P. No. 19303
Place: Ahmedabad
Date: 31/08/2023
UDIN: F012801E000909763
Page 6 of 6
 INDEPENDENT AUDITOR’S REPORT
To the Members of Mercury Tradelinks Limited
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying standalone Ind AS Standalone financial statements
of Mercury Tradelinks Limited (“the Company”), which comprise the balance sheet as
at 31st March 2023, and the statement of profit and loss and statement of cash flows
for the year then ended, and notes to the standalone financial statements, including a
summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given
to us, except for the possible effects of the matter described in the Basis for Qualified
opinion section of our report, the aforesaid standalone Ind AS standalone financials
Statements give the information required by the companies Act, 2013 (‘Act’) in the
manner so required and give a true and fair view in conformity with the accounting
principles generally excepted in India, of the state of affairs and fair view of the company
as at March 31, 2023, its profit (or loss), statement of changes in equity and cash flows
for the year ended on that date
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified
under section 143(10) of the Companies Act, 2013. Our responsibilities under those
Standards are further described in the Auditor’s Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the Company in
accordance with the Code of Ethics issued by the Institute of Chartered Accountants of
India together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Companies Act, 2013 and the Rules thereunder,
and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the financial statements of the current period. These matters
were addressed in the context of our audit of the financial statements as a whole, and
in forming our opinion thereon, and we do not provide a separate opinion on these
matters.
Sr No Key Audit Matters Auditor’s Response
1 According to Ind AS 115, revenue Our audit procedure included the
to be recognized on satisfaction of following-
performance obligation and
transfer of control pertaining to We assessed the company’s process to
goods. consider the time of transfer of control
of goods.
Determination of transaction price We performed year end cut off
for measurement of revenue procedures to determine whether
according to Ind AS 115. revenues are recorded in the correct
period.
We used assessment of overall control
environment relevant for measurement
of revenue.
We performed testing of journals, with
particular focus on manual adjustment
to revenue account, to mitigate the risk
of manipulation of revenue and profit
figures.
Information other than the financial statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the other information. The other
information comprises the information included in the Directors’ Report, but does not
include the standalone financial statements and our auditor’s report thereon.
Our opinion on the standalone financial statements does not cover the other information
and we do not express any form of assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is
to read the other information and, in doing so, consider whether the other information
is materially inconsistent with the standalone financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.
Management’s Responsibility for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5)
of the Companies Act, 2013 (“the Act”) with respect to the preparation of these
standalone financial statements that give a true and fair view of the financial position,
financial performance, (changes in equity) and cash flows of the Company in accordance
with the accounting principles generally accepted in India, including the accounting
Standards specified under section 133 of the Act. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the
Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the financial statement that give
a true and fair view and are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is responsible for assessing the
Company’s ability to continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial
reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, whether due to fraud or
error, and to issue an auditor’s report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
 Identify and assess the risks of material misstatement of the financial statements,
whether due to fraud or error, design and perform audit procedures responsive
to those risks, and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
 Obtain an understanding of internal control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances. Under section
143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our
 opinion on whether the company has adequate internal financial controls system
in place and the operating effectiveness of such controls
 Evaluate the appropriateness of accounting policies used and the reasonableness
of accounting estimates and related disclosures made by management.
 Conclude on the appropriateness of management’s use of the going concern
basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt
on the Company’s ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events
or conditions may cause the Company to cease to continue as a going concern.
 Evaluate the overall presentation, structure and content of the financial
statements, including the disclosures, and whether the financial statements
represent the underlying transactions and events in a manner that achieves fair
presentation.
We communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied
with relevant ethical requirements regarding independence, and to communicate with
them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine
those matters that were of most significance in the audit of the financial statements of
the current period and are therefore the key audit matters. We describe these matters
in our auditor’s report unless law or regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we determine that a matter should not
be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditor’s Report) Order, 2020 (“the order”) issued by
the central government of india in terms of sub section (11) of section 143 of the act,
we give a statement on the matters specified in paragraphs 3 and 4 of the order, to the
extent applicable.

As required by Section 143(3) of the Act, we report that:

(a) We have sought and, except for the matters described in the basis for qualified
opinion paragraph, obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purposes of our audit except,

The confirmations of the balances outstanding as on the reporting date with

customers, suppliers, unsecured borrowings, deposits and loans and advances
are subject to confirmation with books of the counter parties.

(b) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books;

(c) The Balance Sheet and the Statement of Profit and Loss dealt with by this Report
are in agreement with the books of account.

(d) In our opinion, the aforesaid standalone financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the directors as on 31st
March, 2023 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st March, 2023 from being appointed as a director in terms of
Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financial
reporting of the Company and the operating effectiveness of such controls, refer to
our separate Report in “Annexure A”.
(g) With respect to the other matters to be included in the Auditor’s Report in
accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our
opinion and to the best of our information and according to the explanations given to
us:
(a) The Company has disclosed details regarding pending litigations in note 28 of
financial statements, which would impact its financial position.
(b) The Company does not have any long-term contracts including derivative
contracts for which there were any material foreseeable losses.
(c) There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.
(d) (i) The management has represented that, to the best of its knowledge and
belief, other than as disclosed in the notes to the accounts, no funds have been
advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the company to or in any other person(s)
 or entity(ies), including foreign entities (“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the company (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(ii) The management has represented, that, to the best of it’s knowledge and belief,
other than as disclosed in the notes to the accounts, no funds have been received
by the company from any person(s) or entity(ies), including foreign entities
(“Funding Parties”), with the understanding, whether recorded in writing or
otherwise, that the company shall, whether, directly or indirectly, lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries; and

(iii) Based on audit procedures which we considered reasonable and appropriate

in the circumstances, nothing has come to their notice that has caused them to
believe that the representations under sub-clause (i) and (ii) contain any material
mis-statement.

(f) The company has not declared or paid any dividend during the year in
contravention of the provisions of section 123 of the Companies Act, 2013.

Date : 29th May, 2023 For, V S S B & Associates

Place : Ahmedabad Chartered Accountants
Firm No.121356W

SD/-

(Vishves A Shah)
Partner
M. No. 109944
UDIN: 23109944BGTKFD2319
“Annexure A” to the Independent Auditor’s Report of even date on the Financial
Statements of Mercury Tradelinks Limited

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of
Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of Mercury
Tradelinks Limited (“the Company”) as of March 31, 2023 in conjunction with our audit
of the financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaining
internal financial controls based on the internal control over financial reporting criteria
established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls over Financial
Reporting issued by the Institute of Chartered Accountants of India. These
responsibilities include the design, implementation and maintenance of adequate
internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to company’s policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information, as required under the Companies Act, 2013.
Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls

over financial reporting based on our audit. We conducted our audit in accordance with
the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the
“Guidance Note”) issued by ICAI on Auditing prescribed under section 143(10) of the
Companies Act, 2013, to the extent applicable to an audit of internal financial controls,
both applicable to an audit of Internal Financial Controls and both issued by the Institute
of Chartered Accountants of India. Those Standards and the Guidance Note require that
we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether adequate internal financial controls over financial reporting
was established and maintained and if such controls operated effectively in all material
respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy
of the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting,
assessing the risk that a

material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. 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. We believe that
the audit evidence we have obtained, is sufficient and appropriate to provide a basis for
our audit opinion on the Company’s internal financial controls system over financial
reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to

provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal financial control over financial
reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in
accordance with authorizations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection of

unauthorised acquisition, use, or disposition of the company's assets that could have a
material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting,
including the possibility of collusion or improper management override of controls,
material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls over financial reporting to
future periods are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.
Opinion

In our opinion,, to the best of our information and according to the explanations given
to us, the Company has, in all material respects, an adequate internal financial controls
system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at March 31, 2023, based on the internal control
over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of
India.

Date : 29th May, 2023 For, V S S B & Associates

Place : Ahmedabad Chartered Accountants
Firm No.121356W

Sd/-

(Vishves A Shah)
Partner
M. No. 109944
UDIN: 23109944BGTKFD2319
 “ANNEXURE B” TO THE INDEPENDENT AUDITORS’ REPORT
(Referred to in paragraph 1 under the heading ‘Report on other Legal & Regulatory
Requirement’ of our report of even date)

(i) In Respect of the Company’s Fixed Assets:

(a) (A) The Company has maintained proper records showing full particulars, including
quantitative details and situation of Property, Plant and Equipment.
(B) The Company has no Intangible Assets during the year.

(b) All the Property, Plant and Equipment have been physically verified by the
management during the year and there is a regular program of verification which,
in our opinion, is reasonable having regard to the size of the Company and the
nature of its assets. No material discrepancies have been noticed on such
verification.

(c) Details of immovable properties, which are not held in the name of the company,
are given below: Not Applicable

(d) The Company has not revalued its Property, Plant and Equipment (including Right
of Use assets) or intangible assets or both during the year.

(e) No proceedings have been initiated or are pending against the Company for holding
any benami property under the Prohibition of Benami Property Transactions Act,
1988 (45 of 1988) and rules made thereunder.

(ii) In respect of Inventories:

No inventories are held by the company during the year and no Inventory is there as
on balance sheet date, hence reporting under clause a, b and c regarding the procedure
for physical verification and reasonable records for inventories respectively is not
applicable.

(iii) The Company has not made investments in, provided any guarantee or security or
granted any loans or advances in the nature of loans, secured or unsecured, to
companies, firms, Limited Liability Partnerships or any other parties. Hence, sub-
paragraphs (a) to (f) of paragraph 3(iii) of the Companies (Auditor's Report) Order,
2020 ('the Order') are not applicable.
(iv) The company has not made any loans, investments, guarantees and security on which
provisions of section 185 and 186 of the Companies Act 2013 are applicable. Therefore,
the provisions of clause 3(iv) of the said Order are not applicable to the company.

(v) The Company has not accepted any deposits or amounts which are deemed to be
deposits within the provisions of sections 73 to 76 or any other relevant provisions of
the Companies Act. Therefore, the provisions of paragraph 3(v) of the Order are not
applicable to the Company.

(vi) As explained to us, the Central Government of India has not specified the maintenance
of cost records under sub-section (1) of Section 148 of the Act for any of the products
of the Company. Therefore, the provisions of Clause (vi) of paragraph 3 of the order
are not applicable to the Company.

(vii) In Respect of Statutory Dues:

a) The Company is generally regular in depositing undisputed statutory dues including

Income tax and other statutory dues with the appropriate authorities to the extent
applicable to it. There are no undisputed amounts payable in respect of income tax
which have remained outstanding as at March 31, 2023 for a period of more than 6
months from the date they became payable.

b) Details of dues of income-tax other material statutory dues, as applicable to the

Company which have not been deposited as at March 31, 2023: No any disputes are
pending to be report

(viii) The Company has not surrendered or disclosed as income any transaction not
recorded in the books of account during the year in the tax assessments under the
Income-tax Act, 1961.

(ix) A) The Company has not borrowed funds from any banks, financial institutions or
debenture holders. Hence, the provisions of paragraph 3(ix) of the Order are not
applicable.
B) We report that the Company has not been declared willful defaulter by any bank or
financial institution or other lender or government or any government authority.
C) The Company has utilized the money obtained by way of term loans during the year
for the purposes for which the loans have been obtained.
 D) On an overall examination of the financial statements of the Company, we report
that no funds raised on short-term basis have been utilized for long-term purposes by
the Company.
E) On an overall examination of the financial statements of the Company, we report
that the Company is not having subsidiaries, associates or joint ventures. Hence, the
question of taking any funds from any entity or person on account of or to meet the
obligations of its subsidiaries, associates or joint ventures does not arise.

F) We report that the Company is not having subsidiaries, joint ventures or associate
companies. Therefore, the question of raising loans during the year on the pledge of
securities held in its subsidiaries, joint ventures or associate companies does not arise.

(x) A) The Company has not raised money by way of initial public offer or further public
offer (including debt instruments). Therefore, the provisions of Clause (x)(a) of
paragraph 3 of the order are not applicable to the Company.
B) The Company has not made any preferential allotment or private placement of
shares or convertible debentures (fully, partially or optionally convertible) during the
year and therefore the requirements of compliance with section 42 and section 62 of
the Act and utilization of the funds for the purposes for which they were raised do not
arise.

(xi) A) No material fraud by the Company or any fraud on the Company has been noticed
or reported during the year.
B) As no material fraud by the Company or any fraud on the Company has been noticed
or reported during the year, there is no necessity of filing any report in Form ADT-4
under sub-section (12) of section 143 of the Companies Act with the Central
Government.
C) The Company is not required to and has not established whistle-blower mechanism
during the year.

(xii) The Company is not a Nidhi Company. Therefore, the provisions of Clause (xii) of
paragraph 3 of the order are not applicable to the Company.
(xiii) The Company has entered into transactions with related parties in compliance with
sections 177 and 188 of the Companies Act. The details of such related party
transactions have been disclosed in the financial statements as required under Indian
Accounting Standard (Ind AS) 24, Related Party Disclosures specified under section
133 of the Companies Act, read with rule 7 of the Companies (Accounts) Rules, 2014.
(xiv) A) Though the Company is required to have an internal audit system under section 138
of the Companies Act, it does not have the same established for the year.

B) The Company did not have an internal audit system for the period under audit.

(xv) The Company has not entered into any non-cash transactions with its directors or
persons connected with its directors during the year and hence provisions of section
192 of the Companies Act are not applicable to the Company.

However, company has not provided us with the list of persons connected to director
as defined under companies act, therefore no comments can be made regarding the
fact that whether any non-cash transactions has done with the persons connected to
the director.

(xvi) The nature of business and the activities of the Company are such that the Company
is not required to obtain registration under section 45-IA of the Reserve Bank of India
Act, 1934.

(xvii) The Company has not incurred cash losses in the current financial year and in the
immediately preceding financial year cash losses of Rs. 9.79 Lacs.

(xviii) There has been change in an Auditor during the year, the previous year M/s SMMP &
Associates was resigned from the post of Auditor and M/s V S S B & Associates,
Chartered Accountant (FRN 0121356W) appointed as a statutory auditor of the
company.

(xix) On the basis of the financial ratios, ageing and expected dates of realization of financial
assets and payment of financial liabilities, other information accompanying the financial
statements, our knowledge of the Board of Directors and management plans and based
on our examination of the evidence supporting the assumptions, nothing has come to
our attention, which causes us to believe that any material uncertainty exists as on the
date of the audit report that Company is not capable of meeting its liabilities existing at
the date of balance sheet as and when they fall due within a period of one year from
the balance sheet date. We, however, state that this is not an assurance as to the future
viability of the Company. We further state that our reporting is based on the facts up
to the date of the audit report and we neither give any guarantee nor any assurance
that all liabilities falling due within a period of one year from the balance sheet date,
will get discharged by the Company as and when they fall due.
(xx) The Company is not liable to spend or expend or contribute for Corporate Social
Responsibility under section 135 of the Companies Act. Hence, the provisions of
paragraph (xx) of the Order are not applicable.

(xxi) The Company is not having any subsidiary, joint venture or associate company and as
such the Company is not required to prepare consolidated financial statements. Hence,
the provisions of paragraph (xxi) of the Order are not applicable to the Company.

Date : 29th May, 2023 For, V S S B & Associates

Place : Ahmedabad Chartered Accountants
Firm No.121356W

Sd/-

(Vishves A Shah)
Partner
M. No.109944
UDIN: 23109944BGTKFD2319
 MERCURY TRADE LINKS LIMITED
Balance Sheet as at March 31, 2023
(Amount in Lacs)
Note
Particulars As at March 31, 2023 As at March 31, 2022
No.

I ASSETS
Non-current assets
(a) Property, Plant and Equipment 14 10.95 -
(b) Capital work-in-progress - -
(c) Investment Property - -
(d) Goodwill - -
(e) Other Intangible assets - -
(f) Intangible assets under development
(g) Biological Assets other than bearer plants
(h) Financial Assets
(i) Investments 15 - -
(ii) Trade receivables 16 - -
(iii) Loans 17 - -
(iv) Income Tax Assets 0.24
(i) Deferred tax assets (net)
(j) Other non-current assets 18 - -
10.95 0.24
II Current assets
(a) Inventories - -
(b) Financial Assets
(i) Investments 19 - -
(ii) Trade receivables 16 19.00 -
(iii) Cash and cash equivalents 20 1.98 4.00
(iv) Bank balances other than (iii) above 20 - -
(v) Loans 21 36.20 -
(vi) Other Financial Assets 23 1.46 0.16
(c) Current Tax Assets (Net)
(d) Other current assets 22 - 36.61
58.65 40.77
Total Assets 69.59 41.01

I EQUITY AND LIABILITIES

EQUITY
(a) Equity Share capital 2 24.75 24.75
(b) Instruments entirely equity in nature - -
(c) Other Equity 3 16.33 15.70
41.08 40.45
LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 4 - -
(ii) Trade payables 5 - -
(iii) Other financial liabilities 6 - -
(b) Provisions 7 - -
(c) Deferred tax liabilities (Net) 0.04 -
(d) Other non-current liabilities 8 - -
0.04 -
II Current liabilities
(a) Financial Liabilities
(i) Borrowings 9 - -
(ii) Trade payables due to 10
Micro and Small Enterprises - -
Other than Micro and Small Enterprises 28.47 0.56
(iii) Other financial liabilities 11 - -
(b) Other current liabilities 12 - 0.00
(c) Provisions 13 - -
(d) Current Tax Liabilities (Net)
28.47 0.56
Total Equity and Liabilities 69.59 41.01

As per our separate report of even date

See accompanying notes to the financial statements
For, V S S B & Associates For & on behalf of the Board,
Chartered Accountants MERCURY TRADE LINKS LIMITED
Firm No.121356W
sd/- sd/-
sd/-
(Vishves A Shah) Ajaykumar Parmar Jatinbhai Makani
Partner Director & CFO Director
M. No. 109944 (DIN: 09849131) (DIN: 09737714)
UDIN: 23109944BGTKFD2319

Place : Ahmedabad
Date : 29th May, 2023
 MERCURY TRADE LINKS LIMITED
Statement of Profit and Loss for the year ended March 31, 2023
(Amount in Lacs)
Note
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022
No.

I Revenue from Operations 23 47.64 -

II Other Income 24 0.11 2.58
III Net gain on de-recognition of financial assets at amortized cost - -
IV Net gain on reclassification of financial assets - -
V Total Income (I+II+III+IV) 47.76 2.58

VI Expenses
Cost of Material Consumed - -
Purchases of Stock-in-Trade 25 16.54 -

Changes in inventories of finished goods, work-in-progress and stock-in-trade 26 - -

Employee Benefits Expenses 27 12.15 5.28
Finance Costs 28 0.01 -
Depreciation and Amortization Expense 29 0.71 -
Other Expenses 30 17.68 6.11
Total Expense (VI) 47.09 11.39

VII Profit/(Loss) before Exceptional iterms and Tax ( V- VI) 0.67 (8.81)
VIII Exceptional Items - -

IX Profit before Extraordinary Items and Tax (VIII-VII)

X Extraordinary Items -

XI Profit Before Tax (VII-VIII) 0.67 (8.81)

XII Tax Expense:

1) Current Tax - -
2) Deferred Tax 0.04 -
3) Income Tax For Earlier Years 0.98
0.04 0.98

XIII Profit for the Period from Continuing Operations (IX - X) 0.63 (9.79)

XIV Profit/(Loss) for the Period from Discontinuing Operations - -

XV Tax Expense of Discontinuing Operations - -

XVI Profit/(Loss) from Discontinuing Operations (After Tax) (XII-XIII) - -

XVII Profit for the Period (XI + XIV) 0.63 (9.79)

XVIII Other Comprehensive Income
(A )(i) Items that will not be reclassified to profit or loss - -
(ii) Income tax relating to items that will not be - -
reclassified to profit and loss
(B)(i) Items that will be reclassified to profit or loss - -
to profit and loss
(ii) Income tax relating to items that will be reclassified - -
to profit and loss
- -
XIX Total Comprehensive Income for the period (XV+ XIV) ( Comprising Profit/(loss) and
other Comprehensive Income for the period) 0.63 (9.79)
XX Earnings Per Equity Share (For Continuing Operation) : 31
(a) Basic 0.25 (3.96)
(b) Diluted 0.25 (3.96)
XXI Earnings Per Equity Share (For Discontinuing Operation): 31
(a) Basic - -
(b) Diluted - -
XXII Earnings Per Equity Share (For Continuing and Discontinuing Operation): 31
(a) Basic 0.25 (3.96)
(b) Diluted 0.25 (3.96)

Significant Accounting Policies 1

As per our separate report of even date
See accompanying notes to the financial statements
For, V S S B & Associates For & on behalf of the Board ,
Chartered Accountants MERCURY TRADE LINKS LIMITED
Firm No.121356W

sd/- sd/- sd/-

(Vishves A Shah)
Proprietor Ajaykumar Parmar Jatinbhai Makani
M. No. 109944 Director & CFO Director
UDIN: 23109944BGTKFD2319 (DIN: 09849131) (DIN: 09737714)

Place : AHMEDABAD
Date : 29th May, 2023
Mercury Tradelinks Limited
NOTE: 1.1 – SIGNIFICANT ACCOUNTING POLICIES
This note provides a list of the significant accounting policies adopted in the preparation of
these standalone financial statements. These Policies have been consistently applied to all the
years presented, unless otherwise stated.
(i) Corporate Information

Mercury Tradelinks Limited is a Public Company domiciled in India having CIN:

L01100GJ1985PLC144317. The registered office of the company is located at 518
Swati Crimson and Clover Shilaj Circle, SP Ring Road Thaltej Thaltej Road Ahmadabad
City Ahmedabad GJ 380054. The Company is engaged in the business of Trading of
Agriculture Products and other related materials thereof.

(ii) Basis Of Preparation

The financial statements have been prepared in accordance with the Indian Accounting
Standards (hereinafter referred to as the ‘Ind AS’) as notified by Ministry of Corporate
Affairs pursuant to Section 133 of the Companies Act, 2013 (‘Act’) read with of the
companies (Indian Accounting Standards) Rules, 2015 as amended from time to time
and other accounting principal generally accepted in India.

(iii) Basis of Measurement

These financial statements prepared and presented under the historical cost
convention with the exception of certain assets and liabilities that are required to be
carried at fair value by Ind AS. The fair value is the price that would be received to sell
an asset or paid to transfer liability in an orderly transaction between the market
participant at the measurement date.

The Financial Statements have been presented in Indian Rupees (INR), which is also
the company’s function currency. All values are rounded off to the nearest rupees,
unless otherwise indicated.

(iv) Revenue Recognition

Effective 1st April, 2018, the Company has applied Ind AS 115 – Revenue from
Contracts with Customers. Pursuant to adoption of Ind AS 115, Revenue from
 contracts with customers are recognized when the control over the goods or services
promised in the contract are transferred to the customer. The amount of revenue
recognized depicts the transfer of promised goods and services to customers for an
amount that reflects the consideration to which the Company is entitled to in exchange
for the goods or services.

Revenue is measured at the fair value of the consideration received or receivable.

Amounts disclosed as revenue are inclusive of net of returns, trade allowances,
rebates, value added taxes, goods and service tax and amounts collected on behalf of
third parties.

The Company recognizes revenue when the amount of revenue can be reliably
measured, it is probable that future economic benefits will flow to the entity and
specific criteria have been met for each of the company’s activities. The company
bases its estimates on historical results, taking into consideration the type of
customer, the type of transactions and the specifics of each arrangement.

Revenue is recognized by the Company significant risk and rewards pertaining to

ownership of goods get transferred from Seller to buyer.

(v) Use of Estimates

The estimates and judgements used in the preparation of the financial statements are
continuously evaluated by the company and are based on historical experience and
various other assumptions and factors (including expectations of future events) that
the company believes to be reasonable under the existing circumstances. Difference
between actual results and estimates are recognized in the period in which the results
are known/materialized.

The said estimates are based on the facts and events, that existed as at the reporting
date, or that occurred after that due provide additional evidence about conditions
existing as at the reporting date.

The estimates and the underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognized in the period in which the estimates
are revised and future periods affected. Significant judgements and estimates about
the carrying amount of assets and liabilities include useful lives of tangible and
intangible assets, impairment of tangible assets, intangible assets including goodwill,
 investments, employee benefits and other provisions and recoverability of deferred tax
assets.

(vi) Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is
adjusted for the effects of transactions of a noncash nature, any deferrals or accruals
of past or future operating cash receipts or payments and item of income or expenses
associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company is segregated.

(vii) Property, Plant and Equipment (PPE)

All items of property, plant and equipment are stated at historical cost of
acquisition/construction (net of recoverable taxes) less accumulated depreciation and
impairment losses, if any.

Freehold land is carried at historical cost.

Subsequent costs are included in asset’s carrying amount or recognized at a separate

asset, as appropriate, only when it is probable that future economic benefits
associated with the item will flow to the group and the cost of the item measured
reliably. The carrying amount of any component accounted for as a separate asset is
derecognized when replaced. All other repairs and maintenance are charged to profit
or loss during the reporting period in which they are incurred.
Historical cost includes expenditure that is directly attributable to the acquisition as
well as construction/installation of the items. Rehabilitation and resettlement expenses
incurred after initial acquisition of the assets are expensed to profit or loss in the year
in which they are incurred.

The present value of the expected cost for the decommissioning of an asset after its
use is included in the cost of the respective asset if the recognition criteria for a
provision are met.

Capital Work-in-progress includes expenditure that is directly attributable to the

acquisition/construction of assets, which are yet to be commissioned.

An item of property, plant or equipment is derecognized upon disposal or when no

future economic benefits are expected to arise from the continued use of the asset.
 Any gain or loss arising on the disposal or retirement of an item of property, plant and
equipment is recognized in the statement of profit and loss.

Depreciation on Property, Plant & Equity (PPE) is provided in the manner prescribed in
Schedule II to the Companies Act, 2013 read with relevant circulars issued by the
Department of Company Affairs. Depreciation on assets acquired/disposed off during
the year is provided on pro-rata basis.

(viii) Provisions, contingent liabilities and contingent assets

Provisions are recognised at present value when the Company has a present
obligation (legal or constructive) as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. The
expense relating to a provision is presented in the statement of profit and loss net of
any reimbursement. Provisions are not recognised for future operating losses.

Where there are number of similar obligations, the likelihood that an outflow will be
required in settlement is determined by considering the class of obligations as a
whole. A provision is recognised even if the likelihood of an outflow with respect to
any one item included in the same class of obligations may be small.

The measurement of provision for restructuring includes only direct expenditure

arising from the restructuring, which are both necessarily entailed by the restructuring
and not associated with the ongoing activities of the company.

(ix) Off Setting Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the
balance sheet when, and only when, there is a legally enforceable right to offset the
recognized amount and there is intention either to settle on net basis or to realize the
assets and to settle the liabilities simultaneously. The legally enforceable right must
not be contingent on future events and must be enforceable in the normal course of
business and in the event of default, insolvency or bankruptcy of the Company or
counterparty.

(x) Cash and Cash Equivalents

 For the purpose of presentation in the statement of cash flows, cash and cash
equivalents includes cash on hand, other short term, highly liquid investments with
original maturities of three months or less that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value, and
bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in
the balance sheet.

(xi) Trade Receivables

Trade receivables are recognized initially at fair value and subsequently measured at
amortized cost using the effective interest method.

(xii) Trade and Other Payables

These amounts represent liability for goods and services provided to the Company
prior to the end of financial year which are unpaid. The amounts are unsecured and
are usually paid within 90 days of recognition. Trade and other payables are presented
as current liabilities unless payment is not due within 12 months after the reporting
period. They are recognized initially at fair value and subsequently measured at
amortized cost using the effective interest rate method.

(xiii) Related Party Disclosure:

 Directors & Key Managerial Personnel:-

Sr No Name of KMP Designation
1 Kanaiyalal H Modi CFO (KMP)
2 Payal R Shah Director
3 Viren Makwana Additional Director
4 Priyanka Gola Director
5 Jatinbhai M Makani Additional Director
6 Ajaykumar J Parmar Additional Director
7 Ayushi A Shah Company Secretary

(xiv) In the opinion of the board of Directors, Current Assets, Loans and Advances a value
of realization equivalent to the amount at which they are stated in the Balance Sheet.
Adequate provisions have been made in the accounts for all the known liabilities.
(xv) The Balance of sundry creditors, sundry debtors and Loans and Advances are
unsecured considered goods and reconciled from subsequent transactions and/or
confirmations are obtained.

(xvi) Investment & Financial Assets

(a) Classification
The Group classifies its financial assets in the measurement categories:
* Those to be measured subsequently at fair value, and
* Those measured at amortised cost.
The Classification depends on the entity’s business model for managing the financial
assets and the contractual terms of the cash flows.
For assets measured at fair value, gains and losses will be recorded in profit or loss.
For investment in equity instruments, this will depend on whether group has made an
irrecoverable election at the time of initial recognition to account for the equity
investment at fair value through other comprehensive income.
(b) Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of
similar financial assets) is primarily derecognized (i.e. removed from the Company’s
balance sheet) when:
A. The contractual rights to the cash flows from the financial asset have expired, or
B. The Company has transferred its rights to receive cash flows from the asset or
has assumed an obligation to pay the received cash flows in full without material
delay to a third party under a ‘pass-through’ arrangement; and either
i) The Company has transferred substantially all the risks and rewards of the
asset, or
ii) The Company has neither transferred nor retained substantially all the
risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or
has entered into a pass-through arrangement, it evaluates if and to what extent it has
retained the risks and rewards of ownership. When it has neither transferred nor
retained substantially all of the risks and rewards of the asset, nor transferred control
of the asset, the Company continues to recognize the transferred asset to the extent of
the Company’s continuing involvement. In that case, the Company also recognizes an
associated liability. The transferred asset and the associated liability are measured on
a basis that reflects the rights and obligations that the Company has retained.
Continuing involvement that takes the form of a guarantee over the transferred asset
is measured at the lower of the original carrying amount of the asset and the
maximum amount of consideration that the Company could be required to repay.
(c) Impairment of financial assets

The Company assesses impairment based on expected credit loss (ECL) model to the
following:

A. Financial assets measured at amortized cost B. Financial assets measured at fair

value through other comprehensive income

Expected credit losses are measured through a loss allowance at an amount equal to:

A. The 12-months expected credit losses (expected credit losses that result from
those default events on the financial instrument that are possible within 12 months
after the reporting date); or
B. Full time expected credit losses (expected credit losses that result from all possible
default events over the life of the financial instrument)

The Company follows ‘simplified approach’ for recognition of impairment loss

allowance on trade receivables. It recognizes impairment loss allowance based on
lifetime ECLs at each reporting date, right from its initial recognition. The Company
uses a provision matrix to determine impairment loss allowance for trade receivables.
The provision matrix is based on its historically observed default rates over the
expected life of the trade receivable and is adjusted for forward looking estimates. At
every reporting date, the historical observed default rates are updated and changes in
the forward-looking estimates are analyzed.
For recognition of impairment loss on other financial assets and risk exposure, the
Company determines that whether there has been a significant increase in the credit
risk since initial recognition. If credit risk has not increased significantly, 12-months
ECL is used to provide for impairment loss. However, if credit risk has increased
significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the
instrument improves such that there is no longer a significant increase in credit risk
since initial recognition, then the Company reverts to recognizing impairment loss
allowance based on 12-months ECL.
 ECL impairment loss allowance (or reversal) recognized during the period is
recognized as income/ expense in the statement of profit and loss. The balance sheet
presentation for various financial instruments is described below:
A. Financial assets measured as at amortized cost and contractual revenue
receivables - ECL is presented as an allowance, i.e., as an integral part of the
measurement of those assets in the balance sheet. The allowance reduces the net
carrying amount. Until the asset meets write-off criteria, the company does not
reduce impairment allowance from the gross carrying amount.
B. Financial assets measured at FVOCI - Since financial assets are already reflected at
fair value, impairment allowance is not further reduced from its value. Rather, ECL
amount is presented as accumulated impairment amount in the OCI.
For assessing increase in credit risk and impairment loss, the Company combines
financial instruments on the basis of shared credit risk characteristics with the
objective of facilitating an analysis that is designed to enable significant increases in
credit risk to be identified on a timely basis.
(xvii) Financial Liabilities

a) Initial recognition and measurement

All financial liabilities are recognized initially at fair value and, in case of loans and
borrowings and payables, net of directly attributable transaction costs.
Subsequently, all financial liabilities are measured at amortized cost or at fair value
through profit or loss. The Company’s financial liabilities include trade and other
payables, loan and borrowings including bank overdrafts.

b) Subsequent measurement

A. Financial liabilities measured at amortized cost

B. Financial liabilities subsequently measured at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held
for trading and financial liabilities Financial liabilities designated upon initial
recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities
designated as FVTPL, fair value gains/ losses attributable to changes in own credit
 risk are recognized in OCI. These gains/ losses are not subsequently transferred to
profit or loss. However, the Company may transfer the cumulative gain or loss
within equity. All other changes in fair value of such liability are recognized in the
statement of profit or loss. The Company has not designated any financial liability
as at fair value through profit or loss.

c) Derecognition

A financial liability is derecognized when the obligation under the liability is

discharged or cancelled or expires. When an existing financial liability is replaced
by another from the same lender on substantially different terms, or the terms of
an existing liability are substantially modified, such an exchange or modification is
treated as the derecognition of the original liability and the recognition of a new
liability. The difference in the respective carrying amounts is recognized in the
statement of profit or loss.

(xviii) Fair Value

The Company measures certain financial instruments at fair value at each balance
sheet date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either:

A. In the principal market for the asset or liability, or

B. In the absence of a principal market, in the most advantageous market for the
asset or liability.

The principal or the most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market
participants act in their best economic interest.
The Company uses valuation techniques that are appropriate in the circumstances and
for which sufficient data are available to measure fair value, maximizing the use of
relevant observable inputs and minimizing the use of unobservable inputs.
 All assets and liabilities for which fair value is measured or disclosed in the financial
statements are categorized within the fair value hierarchy, described as under, based
on the lowest level input that is significant to the fair value measurement as a whole:
A. Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or
liabilities.
B. Level 2 - Valuation techniques for which the lowest level input that is significant to
the fair value measurement is directly or indirectly observable.
C. Level 3 - Valuation techniques for which the lowest level input that is significant to
the fair value measurement is directly or indirectly observable.
For assets and liabilities that are recognized in the financial statements on a recurring
basis, the Company determines whether transfers have occurred between levels in the
hierarchy by re-assessing categorization (based on the lowest level input that is
significant to the fair value measurement as a whole) at the end of each reporting
period.

This note summarizes the accounting policy for fair value. Other fair value related
disclosures are given in the relevant notes.

(xix) As certified by the company that it was received written representation from all the
directors, that companies in which they are directors had not defaulted in terms of
section 164(2) of the companies Act, 2013, and the representation from directors
taken in Board that Director is disqualified from being appointed as Director of the
company.

(xx) Contributed Equity

Equity shares are classified as equity.

(a) Earnings per Share
Basic earnings per share is calculated by dividing:
-the profit attributable to the owners group
-by the weighted average number of equities shares outstanding during the
year.
 (b) Rounding off amounts
All amounts disclosed in the financial statements and notes have been rounded
off to the nearest lacs as per the requirement of Schedule III, unless otherwise
stated.

For and on behalf of the board of directors As per our attached report of even date
For, V S S B & Associates
For, Mercury Tradelinks Limited Chartered Accountants
Firm No. 121356W
Sd/- Sd/-
Sd/-
Ajaykumar Parmar Jatinbhai Makani (Vishves A Shah)
Managing Director & CFO Director (Partner)
(DIN: 09849131) (DIN:09737714) M No:-109944
UDIN: 23109944BGTKFD2319

Place : Ahmedabad
Date : 29th May, 2023
 STATEMENT OF CHANGES IN EQUITY
MERCURY TRADE LINKS LIMITED
(CIN: L01100MH1985PLC037213)
Statement of Changes in Equity for the period ended 31st March, 2023

A. Equity Share Capital (Amounts in Lacs)

Changes in equity
share capital Balance at the end of the
Balance at the beginning of the reporting period
during the year reporting period

1st April, 2021 - 24.75

31st March, 2022 - 24.75
31st March, 2023 - 24.75

B. Other Equity (Amounts in Lacs)

Reserves and Surplus

Other Reserves Total

Securities Premium Retained
Capital Reserve Subsidy (Surplus balance of
Reserve Earnings
Profit & loss Account)

Reporting as at 1st April, 2021

Balance at the beginning of the reporting period - - - 26.31 - 26.31
Changes in accounting policy or prior period errors - - - - -
Total Comprehensive Income for the year - - (10.62) - (10.62)
Dividends - - - - -
Transfer to retained earnings - - - - -
Any other change (Writeen off) - - -
Balance at the end of 31st March, 2022 - - - 15.70 - 15.70
-
Reporting as at 1st April, 2022 -
Balance at the beginning of the reporting period - - - 15.70 - 15.70
Changes in accounting policy or prior period errors - - - - - -
Total Comprehensive Income for the year - - - 0.63 - 0.63
Dividends - - - - - -
Transfer to retained earnings - - - - - -
Any other change (Written off) - - - - -
Balance at the end of the March 2023 - - - 16.33 - 16.33
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023

Note 2 - Equity Share Capital

(a) Particulars As at March 31, 2023 As at March 31, 2022

Authorised :
2,47,500 Equity Shares of Rs. 10/- each 24,75,000.00 24,75,000.00

TOTAL 24,75,000.00 24,75,000.00

Issued, Subscribed and Paid-up :

2,47,500 Equity Shares of Rs. 10/- each 24,75,000.00 24,75,000.00

TOTAL 24,75,000.00 24,75,000.00

(b) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the
distribution of dividends and repayment of capital.
i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote
per share. The Company declares and pays dividend in Indian Rupees. During the year ended 31st March 2023, the Company has not declared
any dividend.

ii) In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining assets of the Company, after
distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by the shareholders.

(c) Reconciliation of number of shares outstanding at the beginning and at the end of the reporting period

Particulars As at March 31, 2023 As at March 31, 2022

No. of shares at the beginning of the year 2,47,500.00 2,47,500.00

Add: Issue of Shares during the year
Subscriber to the Memorandum - -
Private Placement -
2,47,500.00 2,47,500.00
Less: Forfeiture of Shares during the Year -

No. of shares at the end of the year 2,47,500.00 2,47,500.00

(d) Aggregate details for five immediately previous reporting periods for each class of shares

Particulars As at March 31, 2023 As at March 31, 2022

- No. of shares alloted as fully paid up pursuant to - -

contracts without payment being received in cash
- No. of shares alloted as fully paid by way of Bonus - -
Shares
- No. of shares bought back - -
(e) Details of shareholders holding more than 5% shares in the company

As at March 31, 2023 As at March 31, 2022

No. of Shares held by
Nos. % Nos. %
Devang Shah 5,85,000.00 0.19 5,85,000.00 2.36
Ila Bhagat 2,92,065.00 0.10 2,92,065.00 0.10
Mandakini Shah 3,02,600.00 0.10 3,02,600.00 1.22
Indian Clearing Corporation Limited 2,60,858.00 0.09 2,60,858.00 0.09

Details of Promoters Holding in the company

Nos.
No. of Shares held by % Change during the year
Nos. %
Devang Shah 5,85,000.00 0.19 -
Ila Bhagat 2,92,065.00 0.10 -

(g) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.
The company does not have any securities convertible into shares as on reporting date.
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023
Note 3 - Other Equity

Particulars As at March 31, 2023 As at March 31, 2022

(i) Capital Reserve

As per last Balance Sheet - -
Add: Additions during the year (Share Forfeiture) - -
Less: Utilised / transferred during the year - -
Closing balance - -
(ii) Securities premium account
Opening balance -
Add : Premium on shares issued during the year - -
Less : Utilised during the year for: - -
Closing balance - -
(iii) General Reserve
As per last Balance Sheet - -
Add: Transferred from Profit and Loss Account - -
Less: Transferred to Profit and Loss Account - -
Closing balance - -

(iv) Subsidy - -
- -
(v) Surplus in the Profit & Loss Account
As per last Balance Sheet 15.70 26.31
Add/Less: Profit / (Loss) for the year 0.63 (9.79)
Balance at the end of the year 16.33 16.52

Other Comprehensive Income (OCI) (0.83)

Appropriations:
Add: Transferred from reserves -
-
- 16.33 - 15.70

TOTAL 16.33 15.70

Note 4: Non Current Liabilities: Financial Liabilities : Borrowing

Particulars As at March 31, 2023 As at March 31, 2022

(a) Loans From Bank and Financial Institutions

Secured Loans - -
Unsecured Loans

- -
Term Loan from others
Secured
Unsecured
- -
(b) Loans and advances from related parties
Secured
Unsecured
- -
(c) Other Loan & Advances
Secured Loans - -
Unsecured Loans - -

- -
- -
Note 5:Non- Current Liabilities: Financial Liabilities : Payables

Particulars As at March 31, 2023 As at March 31, 2022

(i) Trade Payable
- -
(ii) Others
- -
Total - -
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023

Note 6:Non- Current Liabilities: Financial Liabilities : Others

Particulars As at March 31, 2023 As at March 31, 2022

(i) Trade Payable
- -
(ii) Others
- -
Total - -

Note 7: Non Current : Provisions

Particulars As at March 31, 2023 As at March 31, 2022

(a) Provision for employee's benefits - -
(b) Others (Specify) -
- -

Note 8:Other Non- Current Liabilities

-
Particulars As at March 31, 2023 As at March 31, 2022
(i)
- -
(ii)
- -
Total - -

Note 9: Current Liabilities: Financial Liabilities : Borrowing

Particulars As at March 31, 2023 As at March 31, 2022

(a) Loans repayable on demand

From Banks
Secured
Unsecured
- -
(b) Loans and advances
Secured -
Unsecured
- -

- -

Note 10:Current liabilities: Financial Liabilities : Trade Payables

Particulars As at March 31, 2023 As at March 31, 2022

For Expenses : Outstanidng Dues of Micro, Small and
0.43
Medium Enterprises
For Others: Outstanding Dues of Other Creditors 28.47 0.13

28.47 0.56

Note 11:Current liabilities: Financial Liabilities : Others

Particulars As at March 31, 2023 As at March 31, 2022

TOTAL - -

Note 12: Other Current Liabilities

Particulars As at March 31, 2023 As at March 31, 2022

Professional Tax Payable 0.00

TOTAL - 0.00
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023

Note 13 - Cuurent Liabilities :Provisions

Particulars As at March 31, 2023 As at March 31, 2022

Provision for Audit fees - -

Provision for Accounting fees - -

TOTAL - -
Note -15 - Non-Current Assets: Financial Assets: Investments

Particulars As at March 31, 2023 As at March 31, 2022

Investments (At Cost) - -
Investment in Equity Instruments
i) of Subsidiary: - -
ii) of other entities: - -
Investment in Fixed Deposits - -

- -

Note -17 - Non Current Assets: Financial assets: Loan

Particulars As at March 31, 2023 As at March 31, 2022

(a) Capital Advances - -
(c) Loans & Advances to Related Parties
Unsecured considered good - -

(d) Other Loans & Advances (Specify Nature)

Secured, Considered good
Unsecured Considered good
Due from Others - -
Doutful or Bad -
- -
Note -18 - Other Non-Current Assets

Particulars As at March 31, 2023 As at March 31, 2022

(a) Long Term Trade Receivable
(b) Others (Specify Nature)
Capital Advance
(b) Security Deposits
Security Deposit - -
Unsecured Considered good - -
- -

Note -19 - Current Assets: Investments

Particulars As at March 31, 2023 As at March 31, 2022

Current Investments (At lower of cost and fair value)

- -
Note 16 - Trade Receivables

(a) Particulars As at March 31, 2023 As at March 31, 2022

(i) Due for a period exceeding six months

- Unsecured, considered good - -
- Doubtful - -
Less: Provision for Doubtful Debts - -
- -
(ii) Others
- Secured ,Considered good 19.00 -
- Unsecured, considered good - -
- Doubtful
Less: Doubtful Debts Writtewn off -
19.00 -

TOTAL 19.00 -
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023
Note 20 - Cash & Cash equivalents

Particulars As at March 31, 2023 As at March 31, 2022

(a) Cash & Cash Equivalents

(i) Balances with Banks :
Bank Accounts 0.37 4.00
(ii) Cash-on-hand 1.60 0.00
(iii) Cheques & Drafts on-hand
(iv) Others - Stamps on Hand
(b) Other Bank Balances
- Margin Money or Security Deposit
- Repatriation Restrictions
- Deposit Accounts more than 3 month maturity
- Deposit Accounts more than 12 month maturity
TOTAL 1.98 4.00
Note 21 - Current Assets: Financial Assets: Loans

(a) Particulars As at March 31, 2023 As at March 31, 2022

(i) Security deposits

Secured, considered good -
Unsecured, considered good -
Doubtful - -
- -
(ii) Inter-corporate deposits
Secured, considered good -
Unsecured, considered good
Doubtful - -
- -
(iii) Share Application Money Given

(iv) Advance income tax and TDS - Unsecured,

considered good
- -
- -
(v) Others
Secured, considered good 36.20
Unsecured, considered good - -
Doubtful - -
36.20 -
Less: Provision for Doubtful Debts
TOTAL 36.20 -

Note 22: Other Current Assets

Particulars As at March 31, 2023 As at March 31, 2022

Other Bank Balances - -

Fixed Deposits with more than 3 months maturity - 36.61
- 36.61

Note 23: Other Financial Assets

Particulars As at March 31, 2023 As at March 31, 2022

Other Financial Assets

TDS Receivable on Fixed Deposit Interest 0.01 0.14
Balance with Statutory Authorities (Net) 1.46 0.02

1.46 0.16
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023
Note 23 - Revenue from Operations
(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Agricultural Sales 47.64 -

TOTAL 47.64 -

Note 24 - Other Income

(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Interest Income
Interest on FD 0.11 2.38
Interest on Income Tax Refund 0.01 0.00

Other Income
Provision of Leave enachment W\off - 0.15
Misc Income 0.01
Sundry creditor Balances W/off (0.02) 0.04

TOTAL 0.11 2.58

Note 25- Purchases

(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Agricultural Purchase 16.54 -

TOTAL 16.54 -

Note 26 - Changes in inventories

(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022
Inventories at the end of the year:
Equity Shares -
Mutual Fund -

- -
Inventories at the beginning of the year:
Equity Shares - -
Mutual Fund -
-
- -
- -

Note 27 - Employee Benefit Expenses

(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Salaries and Incentive 12.15 5.28

Contribution to -
i) Provident Fund -
ii) Superannuation Fund -

TOTAL 12.15 5.28

 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023
Note 28 - Financial Costs
(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Bank Charges 0.01 -

Interest Paid - -
TOTAL 0.01 -

Note 29 - Depreciation & Amortised Cost

(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Depreciation 0.71 -
TOTAL 0.71 -
 MERCURY TRADE LINKS LIMITED
Notes to financial statements for the year ended March 31, 2023
Note 30 - Other Expenses
(Amount in Lacs)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

Auditor Remuneration - 0.06

Advertisement Expenses 0.68 0.70
Board Sitting Fees 0.06 0.19
Legal and Professional Charges 3.43 0.71
Share Transfer Expenses - 0.21
Website Maintenance Charges 0.30 0.03
Software Charges 0.17 -
Listing Fees 7.89 3.54
Internet Charges 0.12 -
Demat Charges 0.02 0.40
Rent Expenses 4.32 -
Office Expenses 0.28 -
Filling Charges 0.23 0.03
Domain Registration Charges 0.04 -
GST Expenses 0.01 0.03
Sundry Balances W/off 0.05 -
Printing and stationery 0.08 0.06
Courier Charges, Postage & stamps 0.00 0.01
Other Expenses - 0.13

TOTAL 17.68 6.11

Note 31 - Earnings Per Equity Share

(Amount in INR)
Particulars For the year ended March 31, 2023 For the year ended March 31, 2022

(a) Net profit after tax attributable to equity shareholders for

Basic EPS 0.63 (9.79)
Add/Less: Adjustment relating to potential equity shares -

Net profit after tax attributable to equity shareholders for 0.63 (9.79)
Diluted EPS

(b) Weighted average no. of equity shares outstanding during the

year
For Basic EPS 2.48 2.48

(c) Face Value per Equity Share (Rs.)

For Continuing Operation
Basic EPS 0.25 (3.96)
Diluted EPS 0.25 (3.96)

For Discontinuing Operation

Basic EPS - -
Diluted EPS - -

For Continuing & Discontinuing Operation

Basic EPS 0.25 (3.96)
Diluted EPS 0.25 (3.96)

Note:
The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.
 MERCURY TRADE LINKS LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2023

Year ended Year ended

Particulars 31st March, 2023 31st March, 2022
Rs. Rs.
CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before Tax for the year 0.67 (8.81)
Adjustments for :
Depreciation 0.71 -
Interest Paid - -
Income Tax For Earlier Years - (0.98)
Dividend Received - -
Interest Income (0.12) (2.38)
0.59 (3.36)
Operating Profit before Working Capital change 1.26 (12.17)
Adjustments for :

Decrease/(Increase) in Short Term Loans & Advances (36.20) -

Decrease/(Increase) in Receivables (19.00) 0.12
Decrease/(Increase) in Other Current Assets (1.31) -
Increase/(Decrease) in Payables 27.92 (0.71)
Increase/(Decrease) in Provisions 0.00 -
Increase/(Decrease) in Current Liabilities - (0.15)
Increase/(Decrease) in Other Current Liabilities (0.04) -
(28.62) (0.74)
Cash Generated From Operations (27.36) (12.91)
Direct Tax Paid/ Adjustments 0.04 (0.67)
NET CASH FROM OPERATING ACTIVITIES Total (A) (27.40) (12.24)

CASH FLOW FROM INVESTING ACTIVITIES

(Purchase) / sale of Assets (10.95) -
(Purchase) / sale of Investment - 0.01
Dividend Received - 0.00
Increase In Investment 36.20 12.80 12.82
NET CASH USED IN INVESTING ACTIVITIES Total (B) 25.25 12.82

CASH FLOW FROM FINANCING ACTIVITIES

Interest on Fixed Deposite 0.12 2.38

NET CASH FROM FINANCING ACTIVITIES Total (C) 0.12 2.38

Net Increase/(Decrease) in Cash and Cash Equivalents Total (A+B+C) (2.02) 2.96
Cash and Cash Equivalents -- Opening Balance 4.00 1.05
Cash and Cash Equivalents -- Closing Balance 1.98 4.00
(0.00) (0.00)
Note: Previous year's figures have been regrouped/rearranged
wherever considered necessary.

As per our separate report of even date

See accompanying notes to the financial statements
For, V S S B & Associates
Chartered Accountants For & on behalf of the Board,
Firm No.121356W MERCURY TRADE LINKS LIMITED

sd/- sd/- sd/-

(Vishves A Shah)
Partner Ajaykumar Parmar Jatinbhai Makani
M. No. 109944 Director & CFO Director
UDIN: 23109944BGTKFD2319 (DIN: 09849131) (DIN: 09737714)

Place : Ahmedabad
Date : 29th May, 2023
 MERCURY TRADE LINKS LIMITED
CIN - L01100GJ1985PLC144317
Regd. Office: 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City
Ahmedabad GJ 380054 IN
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

Attendance Slip for 38th Annual General Meeting

(to be handed over the Registration Counter)

Registered Folio/DP ID & Client ID:

No. of Shares:

Name and Address of the Shareholder (s):

Joint Holder (s)

I/We hereby record my/our presence at the 38th Annual General Meeting of the Company at its Registered
Office at 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City Ahmedabad GJ
380054 IN on Monday, the 25th September, 2023 at 12:00 PM

Note:

1. You are requested to sign and hand this over at the entrance.

2. If you are attending the meeting in person or by proxy, please bring copy of notice and annual report for
reference at the meeting.

_________________________________________________
Signature of the Member/Proxy / Authorised Representative

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 MERCURY TRADE LINKS LIMITED
CIN - L01100GJ1985PLC144317
Regd. Office: 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City
Ahmedabad GJ 380054 IN
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

BALLOT PAPER
ASSENT/ DISSENT FORM FOR VOTING ON AGM RESOLUTIONS

1. Name(s) & Registered Address of the sole / first :

named Member

2. Name(s) of the Joint-Holder(s) If any :

3. Registered Folio No./ DP ID No & Client ID No. :

[Applicable to Members holding shares in
dematerialized form]

4. Number of Shares(s) held :

I/ We hereby exercise my/our vote in respect of the following resolutions to be passed for the business stated in
the Notice of the Annual General Meeting dated 25th September, 2023, by conveying my/ our assent or dissent
to the resolutions by placing tick (v) mark in the appropriate box below:

Resolution No. Resolutions Optional

Ordinary Business: For Against
1. To consider and adopt the Audited Financial Statements of the
Company for the Financial Year ended March 31, 2023 and Reports
of the Board of Directors and Auditors thereon
2. To appoint a director in place of Mr AJAYKUMAR
JAGDISHBHAI PARMAR Managing Director (DIN: 09849131)
who retires by rotation. Being eligible, he has offered himself for
re-appointment as a Managing Director of the Company (Ordinary
Resolution)
3. To appoint Statutory Auditors to hold the office from the
conclusion of this Annual General Meeting till the conclusion of
43rd Annual General Meeting and to fix their remuneration
Special Business:
4. Appointment Mr. Ajaykumar Jagdishbhai Parmar [DIN:
09849131], by appointing him as Chairman and Managing Director
of the company (Special Resolution)
5. Regularization of Additional Director Mr.VIREN MAKWANA
[DIN: 09007676] as Independent Director of the Company
(Ordinary Resolution)
6. Regularization of Additional Director Ms. PRIYANKA K GOLA
[DIN: 09384530] as Independent Director of the Company
(Ordinary Resolution)
7. Regularization of Additional Director Ms.Divya Bairwa [DIN:
10284597] as Executive Director of the Company (Ordinary
Resolution)

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

Place: _______________________
Signature of the Member

Date: Or

Authorised Representative

General Instructions

1. Shareholders have option to vote either through e-voting i.e., electronic means or to convey
assent/dissent. If a shareholder has opted for physical Assent/Dissent Form, then he/she should not vote
by e-voting and vice versa. However, in case Shareholders cast their vote through physical
assent/dissent form and e-voting, then vote cast through e-voting shall be treated as valid.

2. Voting through physical assent/ dissent form cannot be exercised by a proxy. However, corporate and
institutional shareholders shall be entitled to vote through their authorized representatives with proof of
their authorization, as stated below.

Instructions for voting physically on Assent / Dissent Form

1. A member desiring to exercise vote by Assent/ Dissent should complete this (no other form or
photocopy thereof is permitted

2. This Form should be completed and signed by the Shareholder (as per the specimen signature
registered with the Company/ Depository Participants). In case of joint holding, this Form should be
completed and signed by the first named Shareholder and in his absence, by the next named
Shareholder.

3. In respect of shares held by corporate and institutional shareholders (companies, trusts, societies etc.)
the completed Assent/ Dissent Form should be accompanied by a certified copy of the relevant Board
Resolution/ appropriate authorization, with the specimen signature(s) of the authorized signatory (ies)
duly attested.

4. The consent must be accorded by recording the assent in the column “FOR” or dissent in the column
“AGAINST” by placing a tick mark (V) in the appropriate column in the Form. The assent or dissent
received in any other form shall not be considered valid.

5. Members are requested to fill the Form in indelible ink and avoid filling it by using erasable writing
medium(s) like pencil.

6. There will be one Assent/ Dissent Form for every folio / Client id irrespective of the number of joint
holders.

7. A member may request for a duplicate Assent/ Dissent Form, if so required and the same duly
completed should reach the Scrutinizer not later than the specified under instruction No.1 above.

8. Members are requested not to send any other paper along with the Assent / Dissent Form. They are also
requested not to write anything in the Assent/ Dissent form except giving their assent or dissent and
putting their signature. If any such other paper is sent the same will be destroyed by the Scrutinizer.

9. The Scrutinizers decision on the validity of the Assent/ Dissent Form will be final and binding.

10. Incomplete, unsigned or incorrectly ticked Assent/ Dissent Forms will be rejected.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 MERCURY TRADE LINKS LIMITED
CIN - L01100GJ1985PLC144317
Regd. Office: 518 Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City
Ahmedabad GJ 380054 IN
Website: www.mercurytradelinks.co.in
Email Id: [email protected] Contact No: +91 8141200797

Proxy form
Form No. MGT-11
[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. /DP ID and Client ID: ………………………………………………………………..

I/We, being the member (s) of ……………… shares of the above-named Company, hereby appoint:

(1) Name: _____________________ Address: __________________________________________

Email Id: ____________________ Signature: ________________________________________

(2) Name: _____________________ Address: __________________________________________

Email Id: ____________________ Signature: ________________________________________

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 38 th Annual
General Meeting of the Company, to be held on Monday 25th September, 2023 at 12:00 PM at 518
Swati Crimson and Clover Shilaj Circle SP Ring Road Thaltej Ahmadabad City Ahmedabad GJ
380054 IN and at any adjournment thereof in respect of such resolutions and in such manner as are
indicated below:

Ordinary Business
1. To consider and adopt the Audited Financial Statements of the Company for the
Financial Year ended March 31, 2023 and Reports of the Board of Directors and
Auditors thereon.(Ordinary Resolution)

2. To appoint a director in place of Mr AJAYKUMAR JAGDISHBHAI PARMAR

Managing Director (DIN: 09849131) who retires by rotation. Being eligible, he has
offered himself for re-appointment as a Managing Director of the Company (Ordinary
Resolution)
3. To appoint Statutory Auditors to hold the office from the conclusion of this Annual
General Meeting till the conclusion of 43rd Annual General Meeting and to fix their
remuneration
Special Business
4. Appointment Mr. Ajaykumar Jagdishbhai Parmar [DIN: 09849131], by appointing him
as Chairman and Managing Director of the company (Special Resolution)
5. Regularization of Additional Director Mr.VIREN MAKWANA [DIN: 09007676] as
Independent Director of the Company (Ordinary Resolution)
6. Regularization of Additional Director Ms. PRIYANKA K GOLA [DIN: 09384530] as

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|

 Independent Director of the Company (Ordinary Resolution)

7. Regularization of Additional Director Ms.Divya Bairwa [DIN: 10284597] as Executive

Director of the Company (Ordinary Resolution)

Signed this______ day of ______, 2023

__________________________
Signature of Proxy Shareholders Signature of Shareholder

Notes:

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. Notwithstanding the above, Proxies can vote on such other items which may be tabled at the
meeting by the shareholders present.

|MERCURY TRADE LINKS LIMITED| |ANNUAL REPORT 2022-23|