Your Directors present their 85th Annual Report on the affairs of the Company for the year ended 31st March, 2026 together with
the Audited Financial Statements for the financial year ended 31st March, 2026.
FINANCIAL HIGHLIGHTS / STATE OF COMPANY AFFAIRS
The performance figures of the Company during the year under review and those reported for the corresponding previous year
are as below:
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WORKING RESULTS
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2025-26
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2024-25
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Total Income
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54.49
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94.62
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Total Expenses
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30.42
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65.88
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Profit before Tax (PBT)
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24.07
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28.74
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Tax Expenses:
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Current Tax
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1.67
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8.55
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Deferred Tax
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5.09
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9.89
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Tax Adjustment of earlier years
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(0.02)
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(152)
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Profit for the Year
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17.33
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11.81
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The financial statements for the financial year ended March 31, 2026, forming part of this Annual Report, have been prepared
in accordance with the Indian Accounting Standards (Ind AS) notified under the applicable provisions of the Companies Act,
2013, and the rules framed thereunder by the Ministry of Corporate Affairs (MCA).
Total Income for the FY2026 was at Rs. 54.49 Lacs as against Rs. 94.62 Lacs for FY2025. Total Expenses for FY2026 were
Rs. 30.42 Lacs as against Rs. 65.88 Lacs for FY2025. The Company has PBT of Rs. 24.07 Lacs for FY2026 as compared
to Rs. 24.07 Lacs for FY2025. Profit for the year was Rs. 17.33 Lacs for FY2026 as compared to Rs. 11.81 Lacs for FY2025.
Cancellation of Certificate of Registration (CoR) as a Non-Banking Financial Company (NBFC)
During the year under review the Company had Voluntarily requested the Reserve Bank of India (RBI) to cancel the Certificate
of Registration (CoR) as a Non-Banking Financial Company (NBFC). Accordingly, RBI has vide its Cancellation Order dated
24th July, 2025 cancelled the CoR issued to the Company. Pursuant thereto, the Company has ceased to be an NBFC.
As directed in the said Order the following steps have been taken:
a) Change of name of the Company
The name of the Company has been changed from The Swastik Safe Deposit & Investments Limited to E & E Enterprises
Limited w.e.f 16th October, 2025.
b) Alteration of Object clause of Memorandum of association
The object clauses in the Memorandum of association related to financial business activities have been substituted with
those of business activities of investing in non-financial assets, trading activities and activities in the field of real estate.
The members at the ExtraOrdinary General Meeting held on Thursday, 25th September, 2025 have consented to the aforesaid
changes.
CHANGES IN THE NATURE OF BUSINESS ACTIVITIES
As stated above, the Company has discontinued NBFC activities and has commenced the business of investing in non¬
financial assets, trading and activities in the field of real estate.
DIVIDEND
The Directors have recommended a dividend of Re. 1/- per share i.e. @ 10% (same as previous year) on 2,40,000 Equity
Shares of Rs.10/- each for the financial year ended 31st March, 2026. The dividend, if approved by the members at the
forthcoming Annual General Meeting, shall be paid to the eligible members.
The Board recommends the above dividend for declaration by the members.
RESERVES
The Directors do not propose to transfer any amount to reserves.
SHARE CAPITAL
During the year under review, there was no change in the issued and paid-up share capital of the Company.
CHANGES IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company does not have any subsidiary, associate or joint venture company.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION BETWEEN 31ST MARCH, 2026
AND THE DATE OF THE REPORT
There are no material changes and commitment, which affect the financial position of the Company which have occurred
between 31st March 2026 and the date of this report.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
A discussion on operations for the year ended 31st March 2026 is given in the Management Discussion and Analysis Report,
which forms part of this Annual Report.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS
The Company has adequate internal financial controls in place with reference to financial statements. These are continually
reviewed by the Company to strengthen the same wherever required.
ANNUAL RETURN
The Annual Return for FY 2026 is available on the website of the Company at www.eeenterprisesltd.in.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
CHANGES IN DIRECTORS
1. Mr. Jaimin Desai (DIN: 109557029) was appointed as an Additional Independent Director of the Company for a period of
5 years with effect from April 01, 2025. At the 84th Annual General Meeting of the Company held on 19th June, 2025 the
shareholders have approved his appointment as Independent Directors for a period of 5 years.
2. In accordance with the provisions of the Companies Act, 2013, Mr. Sunil Adukia (DIN: 00020049) retires by rotation at the
ensuing Annual General Meeting ('AGM') and being eligible offered himself for re-appointment. The Board recommends
his re-appointment for the consideration of the Members of the Company at the ensuing AGM.
3. Pursuant to the recommendation of Nomination and Remuneration Committee, the Board of Directors at its meeting held
on 10th July, 2026, recommended the re-appointment of Mr. Snehal Parikh (DIN: 00467965) as Non executive Independent
Director of the Company for a second term of 5 (five) consecutive years with effect from December 30, 2026 for approval
of the shareholders of the Company.
CHANGES IN KEY MANAGERIAL PERSONNEL
Mr. Jitesh Kumar Agarwal resigned as Company Secretary and Compliance officer of the Company w.e.f 31st July, 2025 and
Ms. Bijal Dugavale has been appointed as Company Secretary and Compliance officer of the Company w.e.f 29th October,
2025.
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received declarations from all its Independent Directors, confirming that they meet the criteria of independence
as prescribed under Section 149(6) of the Companies Act along with Rules framed thereunder and Regulation 16(1)(b) of
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing
Regulations'). In terms of Section 150 of the Companies Act read with Rule 6 of the Companies (Appointment and Qualification
of Directors) Rules, 2014, Independent Directors of the Company have confirmed that they have registered with the databank
maintained by the Indian Institute of Corporate Affairs. In the opinion of the Board, the Independent Directors of the Company
possess the requisite experience, expertise and proficiency required under applicable laws and the policies of the Company.
BOARD EVALUATION
The Board has carried out the Annual evaluation of performance of all Directors. The Company has implemented a system of
evaluating performance of the Board of Directors and of its Committees and individual Directors on the basis of a structured
questionnaire which comprises evaluation criteria taking into consideration various performance related aspects.
The Board of Directors has expressed their satisfaction with the evaluation process.
BOARD AND COMMITTEE MEETINGS
During the year, Seven (7) Board Meetings were convened and held. The required details are given in the Report on Corporate
Governance, which forms part of this Annual Report.
Details of the composition of the Board and its Committees and of the Meetings held and attendance of the Directors at such
Meetings, are provided in the Corporate Governance Report forming part of the Annual Report.
The Composition of Audit Committee is given in the Report of Corporate Governance forming part of the Annual Report.
VIGIL MECHANISM / WHISTLE BLOWER POLICY FOR DIRECTORS AND EMPLOYEES
The Company has established a Vigil Mechanism, which includes a Whistle Blower Policy, for its Directors and Employees, to
provide a framework to facilitate responsible and secure reporting of concerns of unethical behaviour, actual or suspected fraud
or violation of the Company's Code of Conduct & Ethics.
The Whistle Blower Policy is posted on the website of the Company www.eeenterprisesltd.in . There were no complaints during
the year under review.
NOMINATION AND REMUNERATION POLICY
The Board of Directors has formulated a Policy, which lays down a framework for selection and appointment of Directors and
Senior Management and for determining qualifications, positive attributes and independence of Directors. The Board has also
formulated a Policy relating to remuneration payable to Directors, members of Senior Management, Key Managerial Personnel
and other Employees.
The Nomination and Remuneration Policy of the Company is available on it's website https://www.eeenterprisesltd.in
The Composition of Nomination and Remuneration Committee is given in the Report of Corporate Governance forming part
of the Annual Report.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The particulars of loans, guarantee and investments have been disclosed in the financial statements.
MANAGERIAL REMUNERATIONRemuneration to Directors and Key Managerial Personnel
Remuneration to Directors:
The directors do not receive any sitting fee for attending meetings of the Board of Directors of the Company or any Committee
thereof nor they receive any other remuneration from the Company
Commission to MD/WTD: The Company does not have MD/WTD.
Remuneration to Key Managerial Personnel (KMP): No remuneration is paid to any KMP.
Particulars of Employees;
There was no employee in receipt of remuneration prescribed under Section 197 of Companies Act, 2013 and Rule 5(2) & Rule
5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
SECRETARIAL AUDIT REPORT
Pursuant to the provisions of Section 204 of the Companies Act, 2013, and the Rules made there under and SEBI Listing
Regulations, the Company has appointed Mr. Vinit Bhanushali of M/s. V K Bhanushali & Co, Company Secretaries (COP
No. 26886) and holding Peer Review Certificate No. 7359/2025 issued by Institute of Company Secretaries of India as the
Secretarial Auditor of the Company for a period of 5 consecutive years up to the conclusion of the 89th Annual General Meeting
to be held in the calendar year 2030, to conduct a Secretarial Audit of the Company and to furnish the Secretarial Audit Report.
The Secretarial Audit Report is annexed herewith as ‘Annexure - A' and forms an integral part of this Report. The Secretarial
Audit Report does not contain any qualification, reservation or adverse remark.
A certificate has been received from Mr. Vinit Bhanushali of M/s. V K Bhanushali & Co, Company Secretaries, that none of the
Directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as Directors of
companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs or any such statutory authority. The
certificate is attached as ‘Annexure - B' to this Report.
CORPORATE GOVERNANCE CERTIFICATE
The Report on Corporate Governance as stipulated under SEBI Listing Regulations forms part of the Annual Report. The
requisite Certificate from Mr. Vinit Bhanushali of M/s V K Bhanushali & Co, Practicing Company Secretaries, confirming
compliance with the conditions of Corporate Governance as stipulated under the aforesaid SEBI Listing Regulations is attached
to the Corporate Governance Report and forms part of the Annual Report.
RISK MANAGEMENT
The Company has a robust Risk Management framework to identify, measure, manage and mitigate business risk and
opportunities. This framework seeks to create transparency, minimize adverse impact on the business objective and enhance
the Company's competitive advantage. This risk framework thus helps is managing market, credit and operational risks.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Company complies with applicable secretarial standards.
STATUTORY AUDITORS AND AUDITORS REPORT
The existing tenure of M/s K. K. Birla & Co., Chartered Accountants, Mumbai, (having Firm Registration No. 146343W), as the
Statutory Auditors of the Company concludes at the conclusion of the ensuing 85th Annual General Meeting.
In Compliance with the provisions of Section 139 and other applicable provisions of the Companies Act, 2013 and the Companies
(Audit and Auditors) Rules, 2014 (including any statutory modification(s)/re-enactment(s)/amendment(s) thereof, for the time
being in force), it is proposed to appoint M/s K. K. Birla & Co., Chartered Accountants, Mumbai, (having Firm Registration No.
146343W) as the Statutory Auditors of the Company for a second term for a period of 5 years commencing from the conclusion
of this 85th Annual General Meeting until the conclusion of the 90th AGM to be held in the year 2031.
M/s. K. K. Birla & Co, Chartered Accountants, Mumbai, (having Firm Registration No. 146343W) have confirmed that they are
eligible for appointment as Auditors of the Company and have provided their consent to the appointment, if made and Eligibility
Certificate as required under Sections 139 and 141 of the Companies Act, 2013 read with Rule 4 of the Companies (Audit and
Auditors) Rules, 2014.
The Auditors Report for the financial year ended 31st March, 2026 does not contain any qualification, reservation or adverse
remark or disclaimer on the financial statements and no frauds have been reported by the Auditors.
The Notes on financial statement referred to in the Auditors' Report are self-explanatory and do not call for any further comments.
MAINTENANCE OF COST RECORDS
The Company is not required to maintain cost records as specified by the Central Government under Section 148(1) of the Act.
DIRECTORS' RESPONSIBILITY STATEMENT
Your Directors state that:
(i) in the preparation of the annual financial statements, the applicable accounting standards have been followed along with
proper explanation relating to material departures;
(ii) the Directors have selected such accounting policies and applied them consistently and made judgements and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March,
2026 and its Profit for the year ended on that date;
(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) the Directors have prepared the annual financial statements on a going concern basis;
(v) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial
controls are adequate and operating effectively; and
(vi) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such
systems are adequate and operating effectively.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO
a) The nature of the activities of the Company during the year under review have been such that disclosure of the particulars
required with respect to the conservation of energy and technology absorption in terms of section 134 (3)(m) of the
Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 are not applicable.
b) Foreign Exchange Earnings & Outgo: Nil
CORPORATE SOCIAL RESPONSIBILITY
The Annual Report on Corporate Social Responsibility ('CSR') for FY 2025-26 containing, details of CSR Policy, composition of
CSR Committee, CSR projects undertaken and web-link thereto on the website of the Company, as required under Companies
(Corporate Social Responsibility Policy) Rules, 2014, is set out in ‘Annexure - C' of this Report.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
During the year under review there were no contracts/arrangements/transactions entered into by the Company with Related
Parties falling under the provisions of Section 188(1) of the Companies Act, 2013. Accordingly, disclosures as required under
Section 134(3) (h) in the prescribed Form AOC-2 are not applicable.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
The Company has in place a gender neutral policy on prevention of sexual harassment at workplace which is in line with
the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment. During the year
under review, there were no cases filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013.
OTHERS
Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions
on these items during the year under review:
1. The details relating to deposits, covered under Chapter V of the Act, since neither has the Company accepted deposits
during the year under review nor were there any deposits outstanding during the year.
2. Details relating to issue of equity shares including sweat equity shares and shares with differential rights as to dividend,
voting or otherwise, since there was no such issue of shares.
3. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern
status and Company's operations in future.
4. During the year under review, no Stock Options were granted, vested or exercised. No stock options are in force as on
date. Hence, there are no disclosures required to be made pursuant to the applicable requirements of the Securities and
Exchange Board of India (Share Based Employee Benefits) Regulations, 2014.
5. No frauds have been reported by the Auditors as specified under Section 143(12) of the Companies Act, 2013.
6. No application has been made under the Insolvency and Bankruptcy Code 2016 during the year.
7. There is no instance of one-time settlement with any Bank or Financial Institutions.
8. The Company has complied with the provisions of the Maternity Benefit Act, 1961.
ACKNOWLEDGEMENTS
We take this opportunity to thank the employees for their dedicated service and contribution to the Company. We also thank
our banks, business associates and our shareholders for their continued support to the Company.
By Order of the Board
Sd/- Sd/-
Snehal Parikh Sunil Adukia
Place: Mumbai Director Director
Date: 10th July, 2026 (DIN: 00467965) (DIN: 00020049)
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