Your Directors are pleased to present the 38th Annual Report along with Audited Financial Statements of the Company for the year ended 31st March, 2023.

1. FINANCIAL RESULTS

2. REVIEW OF OPERATIONS

The financial year 2022-23 has registered increase in production and sales volumes as compared to previous financial year. The total pipe production (including pig iron) during 2022-23 was ~ 12,98,598 MT (including ~ 1,24,589 MT pipes produced on job work and 27,857 MT pig iron produced on job work) as compared to ~ 10,48,091 MT (including ~ 28,106 MT pipes produced on job work) during 2021-22. During financial year 202223, the Company has sold (including pig iron) ~ 12,85,619 MT (including ~ 1,15,220 MT pipes on job work and 15,668 MT pig iron on job work) as compared to ~ 10,68,728 MT (including ~ 23,231 MT pipes on job work) during 2021-22.

3. CORPORATE RESTRUCTURING

i. Jindal Saw Limited (“Transferee Company” or the “Company”) and Jindal Quality Tubular Limited (“JQTL” “Transferor Company 1”) and Jindal Tubular (India) Limited (“JTIL” “Transferor Company 2”) and Jindal Fittings Limited (“JFL” “Transferor Company 3”)

The Board of Directors of your Company in their meeting held on 16th March, 2022 after considering

the recommendation of Committee of Independent Directors and Audit Committee, approved the Composite Scheme of Amalgamation between Jindal Saw Limited (“Transferee Company” or the “Company”) and Jindal Quality Tubular Limited (“JQTL” “Transferor Company 1”) and Jindal Tubular (India) Limited (“JTIL” “Transferor Company 2”) and Jindal Fittings Limited (“JFL” “Transferor Company 3”) and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”) Read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.

Further, the equity shareholders, secured and unsecured creditors and debenture holder(s) have approved the Scheme in their respective meetings held on March 25, 2023 convened as per the directions issued by Hon'ble National Company Law Tribunal, Allahabad Bench (“NCLT”) vide its order dated January 24, 2023.

The Company had already filed the 2nd motion petition with NCLT. The same is pending before the NCLT.

Requirements) Regulations, 2015 forming part of this report has been given under separate section.

5. DIVIDEND

The Board has, subject to the approval of Members at the ensuing annual general meeting, recommended a dividend @ ' 3/- per equity share of face value of ' 2/-per equity share (i.e. 150%) for the year ended March 31, 2023.

6. DIVIDEND DISTRIBUTION POLICY

Your Company has a Dividend Distribution Policy, in compliance with the (SEBI Listing Regulations). The Policy is available on the Company's website: https://www. jindalsaw.com/pdf/Dividend-Distribution-Policy.pdf. In terms of the Policy, equity shareholders of the Company may expect dividend if the Company has surplus funds after taking into consideration relevant internal and external factors enumerated in the Policy for declaration of dividend.

7. TRANSFER TO RESERVES

Since the requirement of creation of Debenture Redemption Reserves in respect of issuance of listed debentures has been dispensed with by the Ministry of Corporate Affairs (“MCA”), no amount was transferred to debenture redemption reserve for 5000 Non-Convertible Debentures (NCDs) of ' 10,00,000/- each aggregating to ' 500 Crores issued on private placement basis and listed on NSE.

8. SHARE CAPITAL

There is no change in the paid-up equity share capital of the Company during the year 2022-23. The equity shares of the Company are listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

9. NON-CONVERTIBLE DEBENTURES

The Non-Convertible Debentures (NCDs) of ' 10,00,000/-each aggregating to ' 500 Crores issued by the Company are listed on National Stock Exchange of India Limited.

10. EMPLOYEES SHARE BENEFIT SCHEMES

The Company has the following schemes with an objective of enabling the Company to attract and retain talented human resources by offering them the opportunity to acquire a continuing equity interest in the Company, which will reflect their efforts in building the growth and the profitability of the Company i. Jindal Saw Limited Stock Appreciation Rights' Scheme, 2018 (the “SAR Scheme 2018”)

ii. Jindal Saw Limited General Employee Benefit Scheme, 2018 (the “GEB Scheme 2018”)

iii. Jindal Saw Limited Retirement Benefit Scheme, 2018 (the “RB Scheme 2018”)

The “Jindal Saw Employee welfare Trust” (Trust) formed to implement and administer the above scheme is administered by Axis Trustee Services Limited as trustee. The above schemes involves acquisition of shares from the secondary market. The trustee had bought 21,00,328 equity shares of the Company under SAR Scheme 2018. Out of the total of shares held by Trust, The Nomination and Remuneration Committee during the financial year 2020-21, granted 18,06,328 Stock Appreciation Rights (SAR) backed by equal number of shares held by trust to the eligible employees of the Company.

The Nomination and Remuneration committee of the Company in their meeting held on 15th March, 2023 approved the postponement of unappropriated SARs aggregating to 3,17,464 shares to the next financial year i.e. upto 31st March, 2024 as per as per the provision of SEBI (Share Based Employee Benefits) Regulations, 2014 (“SBEB Regulations”).

The applicable disclosures as stipulated under the SEBI (Share Based Employee Benefits) Regulations, 2014 (“SBEB Regulations”), pertaining to the year ended March 31, 2023, is available on the Company's website at www. jindalsaw.com.

11. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

As on March 31, 2023 Company has 11 direct subsidiaries, 14 indirect subsidiaries, 1 associate and 1 joint venture. The Board of Directors reviewed the affairs of the subsidiaries. During the year, Jindal Saw Gulf LLC become the 100% Subsidiary of the Company. There is no other change in the status of subsidiaries, joint ventures and associate companies.

Further, In accordance with Section 129(3) of the Companies Act, 2013, the consolidated financial statements of the Company and its subsidiaries along with a statement containing the salient features of the financial statements of Company's subsidiaries in Form AOC 1 forms part of Annual Report. The statement also provides the details of performance, financial positions of each of the subsidiaries.

As per the provisions of Section 136 of the Companies Act, 2013, the audited financial statements, including the consolidated financial statements and other related

information of the Company and audited financial statements of each of its subsidiaries, are available on our website www.jindalsaw.com. These documents will also be available for inspection during business hours at our registered office till date of annual general meeting.

The policy for determining material subsidiaries may be accessed on the Company's website at the link: https:// jindalsaw.org/pdf/POLICY-FOR-DETERMINING-MATERIAL-SUBSIDIARIES-10-2020.pdf

12. CONSOLIDATED FINANCIAL STATEMENT

Audited annual consolidated financial statements forming part of the annual report have been prepared in accordance with Companies Act, 2013, Indian Accounting Standards (Ind AS) 110- ‘Consolidated Financial Statements' and Indian Accounting Standards (Ind AS) 28 - Investments in Associates and Joint Ventures', notified under Section 133 of Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 and as amended from time to time.

13. AUDITORS & THEIR REPORT STATUTORY AUDITORS

The Members of the Company had appointed Price Waterhouse Chartered Accountants LLP as Statutory Auditors of the Company for a term of 5 (five) consecutive years from conclusion of 37th Annual General Meeting until the conclusion of 42nd Annual General Meeting. The Price Waterhouse Chartered Accountant LLP have confirmed that they are not disqualified from continuing as Auditors of the Company.

Auditors' remarks in their report read with the notes to accounts referred to by them are self-explanatory.

There have been no fraud reported by the Statutory Auditors of the Company.

SECRETARIAL AUDITOR

M/s. S. K. Gupta & Co., Company Secretaries, were appointed as Secretarial Auditors, to conduct Secretarial Audit of the Company for the financial year 2022-23. The Secretarial Audit Report for the financial year ended 31st March, 2023 is annexed herewith marked as Annexure 2 to this Report.

The Board in their meeting held on 17th May, 2023 have reappointed M/s. S. K. Gupta & Co., Company Secretaries, as Secretarial Auditors, to conduct Secretarial Audit of the Company for the financial year 2023-24.

The Secretarial Audit report contains the following remarks:

“No prior approval was taken from Audit Committee and the Shareholders of the Company pursuant to Regulation 23 (2) 23 (3) and 23 (4) of the SEBI Listing Regulations for entering into material related party transactions exceeding the limit of ' 2,400 Crores previously approved by the Shareholders of the Company at the Annual General Meeting held on 27th September, 2022 by ' 399.72 Crores during the Financial Year ended 31st March, 2023."

EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY AUDITORSi. Auditors’ Report:

There have been no fraud, qualification, reservation or adverse remark reported by the Statutory Auditors of the Company.

ii. Secretarial Auditor’s Report:

The Management response on the remarks of Secretarial Auditors in the reports is as under:

The approval of the Members was obtained by the Board for material related party transactions [the transactions entered into by the Company with a related party for an aggregate of Rs. 1,000 crore or more] proposed to be entered into during the financial year 2022-2023 with JSW Steel Limited for an aggregated amount of Rs. 2,400 crore at the annual general meeting held on 27th September, 2022.

As on 31st December, 2022, i.e., upon a conclusion of 9 months, the transactions entered into with JSW Steel Limited were within the limit leaving enough head-room for transactions to be entered into during the 4th quarter. However, due to an unexpected upturn in the market and business, the Company received the prestigious order[s] from reputed clients. In order to insulate itself from huge financial losses due to the vagaries of the fluctuating raw material price, meet the rigorous delivery schedule and safe guard company's reputation, the raw material was procured from JSW Steel Limited, which exceeded the pre-approved value of material related party transactions of Rs. 2,400 crore by Rs. 399.72 crore. However, given that the Company has always been committed towards good corporate governance, all transactions with JSW Steel Limited have been done on an arm's length basis and in ordinary course of businessess.

As a matter of good corporate governance, your Board seeks to obtain approval/ratification of the shareholders of the Company for related party transactions with JSW

Steel Limited for the value which exceeds the value already approved the shareholders in their annual general meeting held on 27th September, 2022.

The Management reiterates its commitment for maintaining the highest standard of corporate governance and maintains a zero tolerance approach for the non-compliance of rules and regulations. The above mentioned violation has happened due to extraordinary business exigencies but has nevertheless been conducted on an arm's length basis and in the normal course of business.

COST AUDIT

Pursuant to Section 148 of the Companies Act, 2013 read with rules made thereunder, the Board, has re-appointed M/s. R. J. Goel & Co., Cost Accountants [Registration No. 000026], to audit the Cost Accounts of the Company for the year ending 31st March, 2024. Their remuneration is proposed to be ratified by Members at the ensuing annual general meeting.

The Cost Audit Report and other documents for the year ended 31st March 2022 were submitted with the Central Government by filing Form CRA-4 vide SRN F34721449 dated 28th October, 2022.

14. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 134 of the Companies Act, 2013 with respect to Directors' Responsibility Statement, it is hereby confirmed by the Board of Directors: -

a. that in the preparation of the annual accounts for the financial year ended 31st March, 2023, the Indian Accounting Standards [Ind AS] have been followed along with proper explanation relating to material departures;

b. that they had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for the year ended on that period.

c. that they had 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;

d. that they had prepared the accounts for the financial year ended 31st March, 2023 on a ‘going concern' basis.

e. that they had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f. that they had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

15. DECLARATION BY INDEPENDENT DIRECTORS

The Declaration of Independence from all Independent Directors as stipulated under Section 149[7] of the Companies Act, 2013 and Regulation 17 of the SEBI Listing Regulations, confirming that they meet the criteria of independence have been received.

16. BOARD EVALUATION

The Company has devised a Policy for Performance Evaluation of Independent Directors, Board, Committees and other Directors which includes criteria for performance evaluation of the non-executive Directors and executive Directors under section 178[1] of the Companies Act, 2013 and SEBI Listing Regulations. This Policy may be accessed on the Company's website at the link: http://wwwjindalsaw.com/pdf/Criteia%20for%20

Performance%20Evaluation.pdf

On the basis of the Policy for Performance Evaluation of Independent Directors, Board, Committees and other Directors, a process of evaluation was followed by the Board for its own performance and that of its Committees and individual Directors. The details of the same have been given in the report on Corporate Governance annexed hereto.

The details of programme for familiarization of Independent Directors, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company and related matters have been uploaded on the website of the Company at the link: https://jindalsaw. org/pdf/familiarisation_programme_for_independent_ directors_for_the_FY_2022_23.pdf

17. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Your Board of Directors comprises of mix of Executive and Non-Executive Directors with rich experience and expertise across a range of fields such as corporate finance, strategic management, accounts, legal, marketing, brand building, social initiative, general management and

strategy. Except, Independent Directors, all other Directors are liable to retire by rotation as per the provisions of the Companies Act, 2013.

At the ensuing Annual General Meeting, Shri Prithavi Raj Jindal, Non Executive Chairperson, [DIN: 00005301] and Ms. Shradha Jatia, Non-Executive Director [DIN: 00016940] of the Company, retire by rotation and, being eligible, offer themselves for re-appointment.

In terms of the Rule 6 of the Companies [Appointment and Qualification of Directors] Rules, 2014, all Independent Directors of the Company have enrolled themselves on the Independent Directors Databank.

As per section 134[3][q] of the Companies Act, 2013 read with rule 8[5] of the Companies [Accounts] Rules 2014, details of Directors or Key Managerial Personnel who were re-appointed during the year are given below:-The Members in their Annual General Meeting held on 9th September, 2019 approved the appointment of Dr. Vinita Jha [DIN : 08395714], Shri Sanjeev Shankar [DIN : 06872929] and Shri Girish Sharma [DIN : 05112440], as Independent Directors of the Company for their first term of 5 consecutive years and their tenure will be expiring on 21st March, 2024.

Your Board of Directors, after taking into consideration the recommendations of Nomination and Remuneration Committee and given their background, experience, contribution made by them during their tenure as Independent Director and the performance evaluation, feels that the continued association of Dr. Vinita Jha [DIN : 08395714], Shri Sanjeev Shankar [DIN : 06872929] and Shri Girish Sharma [DIN : 05112440] would be beneficial to the interest of Company as Independent Directors. Accordingly, Board proposes the appointment of Dr. Vinita Jha [DIN : 08395714], Shri Sanjeev Shankar [DIN : 06872929] and Shri Girish Sharma [DIN : 05112440] for 2nd term of further period of 5 consecutive years as an Independent Directors w.e.f. 22nd March, 2024.

Their consent for appointment along with declaration that they meets the criteria of independence U/s 149[6] of the Companies Act, 2013 and SEBI Listing Regulations have been received.

Further, the Board of Directors in their meeting held on 17th May, 2023, based on the recommendation of Nomination and Remuneration Committee of the Company, subject to the approval of Shareholders, appointed following: a. Appointed Ms. Shradha Jatia as Whole-time Director of the Company for period of 5 years w.e.f. 18th May, 2023;

During the year under review, the Company has entered into material related party transactions with JSW Steel Limited and Jindal Steel and Power Limited. All the related party transactions are in compliance with the provisions of SEBI Listing Regulations as applicable during the financial year ended 31st March, 2023 except the Related Party Transactions with JSW Steel Limited entered into for a value in an aggregate exceeding the value approved by the members in the previous AGM resulting into violation of Regulation 23 (2), (3) and (4) of the SEBI Listing Regulations. The detailed information can be referred to in the Directors' Report in respect of remark of Secretarial Auditors in this regard.

The related party transaction policy of the company can be accessed on the Company's website at the link: http://www.jindalsaw.com/pdf/140_Download_

RELATEDPARTYTRANSACTIONPOLICY.pdf

Please refer to Note No 51 to the standalone financial statements, which sets out related party disclosures.

21. CORPORATE SOCIAL RESPONSIBILTY (CSR)

The objective of the Company's Corporate Social Responsibility (‘CSR') initiatives is to improve the quality of life of communities through long-term value creation for all stakeholders. The Company's CSR policy provides guidelines to conduct its CSR activities of the Company. The salient features of the Policy forms part of the Annual Report on CSR activities annexed to the Board's Report. The CSR policy is available on the website of the Company at http://wwwjindalsaw.com/pdf/Jindal-SAW-CSR-Policy.pdf

The key philosophy of all CSR initiatives of the Company is driven by core value of inclusion. Pursuant to CSR Policy various activities were recommended by the CSR Committee to the Board, which were undertaken by the Company. During the year, the Company had spent ' 986.31 Lakh Lacs on CSR activities against the total obligation of ' 1268.36 Lakh. Thus, an amount of ' 282.05 Lakh is less spent on above activities for the financial year ended 31st March 2023. The management continue to explore the feasible project to spend the CSR fund so that the society at large would be benefited. Further, as per the provisions of Section 135 (5) read with schedule VII of the Companies Act, 2013, the unspent amount of ' 282.05 Lakh has been deposited in the PM CARES Fund on 11th May, 2023.

A report on CSR activities is annexed herewith as Annexure 1.

22. RISK MANAGEMENT

The Company has a Risk Management Committee which has been entrusted with the responsibility to assist the Board in (a) overseeing and approving the Company's enterprise wide risk management framework; and (b) identifying and assessing that all the risks that the organization faces such as strategic, financial, credit, market, liquidity, security, property, IT, legal, regulatory, reputational and other risks and to ensure that there is an adequate risk management infrastructure in place capable of addressing those risks. The Risk Management Policy was reviewed and approved by the Committee.

The Company manages, monitors and reports on the principal risks and uncertainties that can impact its ability to achieve its strategic objectives. The Company's management systems, organisational structures, processes, standards, code of conduct and behaviours together form the Management System that governs how the Company conducts the business and manages associated risks.

23. INTERNAL CONTROL AND INTERNAL AUDIT SYSTEM AND THEIR ADEQUACY

The Company has adopted and implemented robust policies and procedures for ensuring the orderly and efficient conduct of its business. The framework has been designed to provide with the size, scale and complexity of its operations, safeguarding of its assets, comply with the applicable laws, prevention and detection of fraud, accuracy and completeness of the accounting records, and timely preparation of reliable financial disclosures. For more details, refer to the “Internal Control and Internal Audit System and Their Adequacy” section in Management Discussions and Analysis Report, which forms part of this Annual Report.

24. COST RECORD

The Cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, are prepared, maintained and the same are audited by the Cost Auditor.

25. SECRETARIAL STANDARDS

The Directors state that applicable Secretarial Standards, i.e. SS-1 (Meetings of the Board of Directors), SS-2 (General Meetings), SS-3 (Dividend) and SS-4 (Report of the Board of Directors) respectively, have been duly followed by the Company.

26. DISCLOSUREMEETINGS OF THE BOARD

During the year under review, the Board of Director of the Company met 4 [Four] times during the year ended 31st March, 2023. These meetings of the Board of Directors were held on 30th May, 2022, 5th August, 2022, 11th November, 2022 and 25th January, 2023. The composition of Board of Directors during the year ended March 31, 2023 is in conformity with Regulation 17 of the SEBI Listing Regulations read with Section 149 of the Companies Act, 2013. For further details, please refer Report on Corporate Governance attached to this Annual Report.

INDEPENDENT DIRECTORS

During the year under review, the Independent Directors of the Company met 2 [two] times on 20th September, 2022 and 24th January, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

AUDIT COMMITTEE

As on 31st March, 2023 the Audit Committee comprised of 5 Independent Directors and 1 Executive Director as its Members. The Chairperson of the Committee is an Independent Director. The Members possess adequate knowledge of accounts, audit, finance, etc. The composition of the Audit Committee is in conformity with requirements as per the Section 177 of the Companies Act, 2013 and Regulation 18 of the SEBI Listing Regulations.

During the year ended 31st March, 2023, the Committee met 4 [four] times on 30th May, 2022, 5th August, 2022, 11th November, 2022 and 25th January, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

NOMINATION AND REMUNERATION COMMITTEE

As on 31st March, 2023, the Nomination and Remuneration Committee comprised of 4 Independent Directors. The Chairperson of the Committee is an Independent Director. The Composition of the Nomination and Remuneration Committee is in conformity with requirements of section 178 the Companies Act, 2013 and SEBI Listing Regulations.

During the year ended 31st March, 2023, the Committee met 3 [three] times on 30th May, 2022, 11th November, 2022 and 15th March, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

STAKEHOLDERS RELATIONSHIP COMMITTEE

As on 31st March 2023, the Stakeholders Relationship Committee comprised of 4 Independent Director and 2 Executive Directors. The Chairperson of the Committee is an Independent Director. The Composition of the Stakeholders Relationship Committee is in conformity with the requirements of the Companies Act, 2013 and SEBI Listing Regulations.

During the year ended 31st March, 2023, the Committee met once on 23rd January, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR COMMITTEE)

As on 31st March, 2023, the CSR Committee comprised of 3 Independent Directors and 2 Executive Directors. The Chairperson of the Committee is an Independent Director. The Composition of the CSR Committee is in conformity with requirements of the Companies Act, 2013.

During the year ended 31st March, 2023, the Committee met once on 15th March, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

RISK MANAGEMENT COMMITTEE

As on 31st March, 2023, the Risk Management Committee comprised of 2 Independent Directors, 2 Executive Directors and 2 non board members. The Chairperson of the Committee is Independent Director. The Composition of the Risk Management Committee is in conformity with requirements of the SEBI Listing Regulations.

During the year ended 31st March, 2023, the Committee met 2 [two] times on 20th September, 2022 and 15th March, 2023. For further details, please refer Report on Corporate Governance attached to this Annual Report.

VIGIL MECHANISM

The Vigil Mechanism of the Company, which also incorporates a Whistle Blower Policy in terms section 177[9] of Companies Act, 2013 and Regulation 22 of the SEBI Listing Regulations. As per the said Policy the protected disclosures can be made by a whistle blower through an e-mail, or a letter to the Compliance Officer or Group CEO & Whole-time Director or to the Chairperson of the Audit Committee. No complaint was received during the year nor was pending at the end of the year.

The Policy on vigil mechanism and whistle blower may be accessed on the Company's website at the link: http:// www.jindalsaw.com/pdf/vigil-mechanism-policy.pdf

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

Particulars of loans given, investments made, guarantees given and securities provided along with the purpose for which the loan or guarantee or security were proposed to be utilized by the recipients are provided in the standalone financial statements [Please refer to Notes to the standalone financial statements].

PARTICULARS REGARDING CONSERVATION OFENERGY, ETC.

Information pursuant to the provision of Section 134 of Companies Act, 2013 read with the rule 8 of Companies [Accounts] Rules, 2014 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo are given is annexed hereto as Annexure 3.

ANNUAL RETURN

Extract of Annual Return of the Company is annexed herewith as Annexure 4.

PARTICULARS OF EMPLOYEES AND RELATEDDISCLOSURES

In terms of the provisions of Section 197[12] of the Companies Act, 2013 read with rules 5[2] and 5[3] of the Companies [Appointment and Remuneration of Managerial Personnel] Rules, 2014, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said Rules are provided as Annexure 5.

Disclosures pertaining to remuneration and other details as required under 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 provided as Annexure 6.

BUSINESS RESPONSIBILITY SUSTAINABILITY REPORT

As per Regulation 34[f] of SEBI Listing Regulations, the Annual Report shall contain business responsibility sustainability report [BRSR] describing the initiatives taken by the Company from environmental, social and governance perspective. Having regard to the green initiative, the BRSR is made available on the Company's website at wwwjindalsaw.com.

27. PUBLIC DEPOSITS

During the year ended March 31, 2023, the Company had not accepted any public deposits and no amount on account of principal or interest on public deposits was outstanding as on March 31, 2023.

28. ANY SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE

During the financial year there was no such significant material orders passed by the regulators or courts or tribunals impacting the going concern status and Company's operations in future.

Further, no application made or any proceedings were pending against the Company under Insolvency and Bankruptcy Code, 2016 during the year under review.

The Company had, of its own, informed SEBI of the historical and inadvertent error in classification of one of the Promoter Group entities as a public shareholder in the shareholding pattern. Subsequently, SEBI issued a show cause notice dated 1st February, 2022. In response to the show cause notice, the Company filed a reply on 22nd April, 2022. In addition, the Company has also filed a settlement application with SEBI on 4th April, 2022 for amicable settlement of the matter. The matter is pending before SEBI.

29. THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has a policy for prevention of sexual harassment of women at workplace and also complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace [Prevention, Prohibition and Redressal] Act, 2013.

The Company as an equal employment opportunity provider and is committed to creating a healthy working environment that enables employees to work without fear of prejudice, gender bias and sexual harassment. The Company also believes that all employees of the Company have the right to be treated with dignity. Sexual harassment at the work place or other than work place, if involving employees, is a grave offence and is, therefore, punishable.

Number of complaints received and resolved in relation to Sexual Harassment of Women at Workplace [Prevention, Protection, and Redressal) Act, 2013: during the year under review and their breakup is as under:

a) No. of Complaints filed during the year:

Nil

b) No. of Complaints disposed of during the year:

Nil

c) No. of Complaints pending at end of year:

Nil

30. ACKNOWLEDGEMENT

Your Directors express their grateful appreciation to concerned Departments of Central / State Governments, Financial Institutions & Bankers, Customers and Vendors for their continued assistance and co-operation. The Directors also wish to place on record their deep sense of appreciation for the committed services of the employees at all levels. They are also grateful for the confidence and faith that you have reposed in the Company as its member