Date: 22.07.

2021

Director's message to Stakeholders;

Dear Stakeholders,

Tam very saddened regarding this unfortunate eventthat has happenedin

the working
of the Company butit our responsibility to keep our stakeholders well
informed about
the said event with all the material details.

Orissa Bengal Carrier Ltd. was incorporated in the year 1994 by our
beloved past
Chairmanlate Shri Ratan Kumar Agrawal. From the last 25 years the Compa
ny has
made the continuous growth and hasincreasedits profits year on
year and have
achieved many milestones in its working in the transport industry for
more than 25
years and have expandedthe business from onebranch to more than 50
branchesas on
date with the perpetual love and support by our stakeholders.

The most important elementof a Company’s business, smooth functioning

and success
is the trust. We at Orissa Bengal Carrier Ltd. have came so far on the base
of trust
between the management and the employees. The Company has always
taken care of
its workers/employees and has alwaysfelt that employeesare the heart andsou
l of a
business organization and we can proudly say that many employeesare
associated with
the Companyfor morethan 25 years.

It is a bitter truth that not every person acts fruitful on the level of trust
which is
conferred upon the person by the management.

ri Main Road, 4
@ 0771-2281310- (9 Lines)
Regd. Office : Jeevan Bima Marg, Pandri, Raipur 492001 (C.G
 The Company’s head office
and the Corporate office
is located in Raipur city
Chhattisgarh state and the in
Companyis having one its
branch situated at Jharsugda
in Orissa state. Mr. Chena Ram city
Saini, Mr. ManojJha and
Mr. Manoj Kumar Tiwari we
employed bythe Companyi re
n the said Jharsugda branch
. They wereassociated wit
Company with morethan 6 h the
years.

said branch were found missin

gar rther # ee employees namely
ae Mr. chena Ram
Saini, Mr. Manoj Jha andMr. ManojKum 5
i were also absent from theoffice.
On thereceipt of the said information I per
sonally along wi the Company CFO
Akshay Agrawal vis itedtheJharsugda
SOB t.
forthwith to vestigatethe matter. In the
due course we foundthatthere 2 eh Y I
were some. i ial irregula:
. of .\
mmitted by the said
3 employeesin the fraudulentma eee
nner,Afterprimafacie investiga
ma, oe Coy, tion welodged an FIR
od
against the said three employees » \ AN
at theJharsugda police station on
27th April, 2021.
The Board felt necessary to dee
ply investigate the matter on urg
ent basis and some
person from senior management
from Headoffice was required to
be engaged in the
investigation so the Board duly
authorised CFO Akshay Agrawa
l & G Kumar &
Company,Internal Auditorfor the
same.

In the due time Mr. Chena Ram Sai

ni was arrested by the Jhasugda pol
ice and it was
also informed to us that his person
al movable/immovable Propertie
s were also ceased
bythepolice.

Pandri Main Road, Raipur 492001 (C.G.)

@ 0771-2281310- (9 Lines)
Regd. Office : Jeevan Bima Marg, Pandri. Raipur 492001
 the situation and made benefi
ts to self in an unjustified ma
nner,

: %
After the Audit Commit_
ee
L4 e2
tee Presented the abovemenrtio \
‘d amountof fraud, the Board
considered the same being in natur of mat
erialeventandcovere d under Regulation 30
(5) of SEBI (LODR)Regul ions,2015.The Board duly informed the Sto
duetime,
ck exchange in

Further upon the tecommenda

tion of the Audit Committe
e to defer the approval of
financialstatements, the Board postpo
ned its meeting which was
called on 29th June,
2021 on later date for the pur
pose of approvalofthe financial statem
ents.
The Audit Committee inits mee
ting held on 08th July 2021 conclu
ded the investigation
and confirmed the actual amo
unt of fraud amounting to Rs
Rs.5,41,43,316/ - upto 31st
March,2021 which was in uniformit
y with the Internal Auditor report and Report
of the
Member of Audit committee.
The Audit committee duly exa
mined the financial

eae

Pandri Main Road, Raipur 492001 (C.G.)

@ 0771-2281310- (9 Lines)
Regd. Office : Jeevan Bima Marq Pandri Raine sonnna A
The Board approved the fin
ancial statements for the hal
f year ended and year ende
31% March, 2021 along wit d
h the Auditor’s report the
re on in the duly held Bo
meeting dated 19th July 202 ard
1 and uploaded the samewit
h the Stock exchange.
Future course of action:

vY Weare implementing a
strong check oninternal aud
it procedures, receiving an
collection of data, Processin d
g of data and making entries.

a
v The Company has adop
ted the policy of O
comply that New software name
ly "lo
Companyfor moresecurity of
the Company’
A
Key features of the Y i
c is Ex cept heauthora
izpe A
ed rs M, NO one can
alter anyentry/ amountonceit is inser
thesoftware.Further the pro
cess of
verifying and scrutinybewillbe
hasslefree, Employees are being
regularly
trained on thefunctioningofthenew software, Further this sof
tware is already
being used more than100Comp
anies having similar logistics busine
ss,
The Companyis also planning to-
appointthe system auditors to fre
quently check
the accuracy of the software and
to look that proper work is don
e by the
employees as per authorization
given to them and report the sam
e to the
management.

ipul
© 0771-2281310- (9 Lines)
Regd. Office : Jeevan Bima Mara. Pandr) Rainirdagnnd (7p)
 v All the financial transactions of the
Company have been centralized at Hea
d
Office. The process of verifying and scru
tiny the data will also be centralized.
Further all the payments will be don
e by the Head office only after dul
y
verification by the authorisedofficer.

¥ Wewish to inform that Jharsugda Poli

ce, has already attached some properties
of the Chena RamSainiandit has beencalc
ulated from the genuine sources that
the value of the properties so a
fraud and the d is in opi ic t the total amounts of fraud can be
recovered from th
a\

curre ri event is unfortunate in the

ailed erva tio n and deep review are
being taken up of the oo wi nches and wewill makesure that such
eventwill not ocetutin fu ee \e%re
. eam 4 .

4I
\U a
Wedo hope that thetrust,love and support
of all the stakeholders will continue.

With thanks and regards,

S
i. “Ravi Agrawal
oletime Director
DIN: 01392652

andri Main Ri
© 0771-2281310- (9 Lines)
Read. Office : Jeevan Bima Marg Pandy) Bainie Jaonn