DuringtheyearendedMarch31^st2024,5(Five)Board Meetings
were held. The dates on which the Board Meetings were
held are 29.05.2023, 14.08.2023, 28.08.2023, 14.11.2023
and 14.02.2024.

6. Statement on Declaration given by Independent
Directors under Section 149(6):

The Independent Directors have submitted declaration
of independence as required pursuant o Section 149(7) of
the Companies Act, 2013 stating that they meet the criteria
of independence as provided in Section149(6)

7. Nomination and Remuneration Committee:

The Nomination and Remuneration Committee consists
of the following directors namely Smt. R Rama Devi,
Sri. N V S Rao and Sri DRSP Raju.

Brief description of terms of reference:

a) Carry on the evaluation of every director’s
performance

b) Formulation of criteria for determining qualification,
positive attributes and independence of a director.

c) Recommend policy to the Board relating to
remuneration of the directors, key managerial
personnel and other employees.

d) Devising a policy on board diversity

e) Any other matter as the board may decide from time
to time.

Nomination and Remuneration Policy:

The objective of the policy:

a) Lay down criteria and terms and conditions with
regard to identifying persons who are qualified to
become Directors and persons who may be
appointed as key managerial persons and to senior
management positions.

b) To provide reward directly linked to their effort
performance, dedication and achievement relating to
company’s operations.

c) To retain, motivate, promote talent to ensure long
term sustainability of talented managerial persons and
create competitive advantage.

d) Determine remuneration based on company’s size and
financial position and trends and practices.

8 Particulars of Loans, Guarantees and
Investments under Section 186

The Company has not given any loan, or guarantee,
or provided any security in connection with a loan to
any other body corporate or person during the
financial year.

9. Particulars of contracts or arrangements with
related parties referred to in Section 188(1):

The particulars of contracts or arrangements with
related parties referred to Sec.188(1) is prepared in
Form No: AOC-2 pursuant to Sec 134(3)(h) of the
Act and Rule 8(2) of the Companies (Accounts)
Rules, 2014 and the same is enclosed as Annexure- 2
to this report.

10. Annual Return:

The Annual Return (Form MGT 7) of your Company
is available on its corporate website, the link of which
was provided in annexure 3.

11. Corporate Governance

The Company has implemented the Corporate
Governance Code during the year under report. A
detailed report is enclosed and form part of this
Annual Report.

12. Directors Responsibility Statement

The Board of Directors of the Company hereby
declares and states that:

a) In the preparation of annual accounts, the applicable
accounting standards have been followed along with
proper explanation relating to material departures.

b) 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 the state of affairs of the
Company at the end of the financial year
31.03.2024 and profit of the Company for the period
ended31.03.2024

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

d) The Directors have not been prepared the annual
accounts on a going concern basis as the Company
suspended the activities from 15^th July 2014.

e) The Directors had laid down internal financial
controls to be followed by the company and that such
internal financial controls are adequate and were
operating effectively.

f) The Directors had devised proper systems to
ensure compliance with the provisions of all
applicable laws and that such systems were
adequate and operating effectively.

13. Energy, Technology and Foreign Exchange

Additional information on conservation of Energy,
Technology Absorption and Foreign Exchange
Earnings and Outgo as required to be disclosed in
terms of Section 134(M) read with Companies
(Accounts) Rules 2014) is as per annexure 1 here to
and forms part of this report.

14 Risk Management Committee:

Risk Management Committee consists of the following
Directors

a) Sri D V Prudvi Raju

b) Smt. R. Rama Devi

c) Sri D R S P Raju

d) Sri NVS Rao

Risk Management Policy:

The Company has taken steps to mitigate the following risks.
Raw Material Price:

As the Company suspended the activities, there is no raw
material.

Competition and price pressure:

Our being a packing industry there are many players and
there is severe competition and price cutting indulged by
competitors. Action of one player is followed by other to
either increase market shares or offer low price to retain
the volumes, which leads to suspension of production
activity of the company.

Foreign Currency Risks:

The Company’s exposure to foreign currency is low. The
export volumes are nil. The impact of foreign exchange
fluctuation is almost negligible considering the volume of
transactions in foreign currency.

15. Statutory Auditors

At the Annual General Meeting held on 29^th
September, 2020, M/s GMK Associates, Chartered
Accountants, were appointed as statutory Auditors of
the Company to hold office till the conclusion of the
Annual General Meeting held in the calendar year 2025.

Auditors Report

The Audit report submitted by M/s GMK Associates,
Chartered Accountants, Hyderabad Chartered
Accountants (ICAI Reg. No : 006945S) Statutory
Auditors do not contain any adverse remarks in their
report for the Financial Year ended 31^st March, 2024.

16. Board of Directors

Sri. D R S P Raju, (Holding DIN No. 00306612) is
liable to retire by rotation at this Annual General
Meeting and being eligible offers himself for
appointment as the Director of the Company.

17. Secretarial Audit Report:

Copy of the Secretarial Audit Report issued by Sri V
B S S Prasad, Practicing Company Secretary (CP No:
4605) for the year under report in Form MR-3 is
attached as Annexure -4 to this report. There are
qualifications in the Secretarial Audit Report, which
were the result of financial crunch the company is
facing due to suspension of operations.

18. Particulars of appointment and remuneration of
Managerial Personnel:

The statement of particulars of Appointment and
Remuneration of Managerial Personnel in terms of
Rule 5 of Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 is enclosed as
Annexure 5 to this report.

19. Insurance:

All remaining properties and insurable interests of the
Company have been fully insured

20. Change in nature of Business:

There is no change in the Company’s nature of
business during the financial year ending 31.03.2024

21. Internal Control System and their adequacy:

Considering the size of business and nature of
operations, the internal control systems and procedure
adopted by the company are reviewed periodically by
the Board and Audit Committee. The existing control
systems are adequate.

22. Significant and Material orders passed by
Regulators:

No such orders have been received during the year
under review.

Material changes and commitments:

There are no material changes and commitments in the
business operations of the Company during the year
under review except that the production continues to
remain suspended since 15^th July 2014

23. Policy on Sexual Harassment:

The Company has no employees on its roles and
specifically no women employee in the employment of
the Company. The Company is in the process of
framing and formulating policy on sexual harassment at
work place in accordance with Sexual Harassment of
Women at workplace (Prevention prohibition and
Redressal) Act, 2013. During the year under review
the Company has not received any complaints
pertaining to Sexual Harassment.

24. Acknowledgements:

The Board has expressed its gratitude to the State
Bank of India, Union Bank of India, various
departments of the State and Central Government,
customers, vendors and shareholders for their
valuable support to the company, staff and
employees.

On behalf of the Board.
For DECCAN POLYPACKSLIMITED

Place: Hyderabad D V. Prudvi Raju

Date:12.08.2024 Whole Time Director

DIN: 03024648