1. FINANCIAL, RESULTS

2. OPERATIONS:

Company is not in position of generating revenue from past 2 years. The Company has
incurred a net loss of (Rs. 20,000) during the year as against net loss of (Rs. 31,800) in the
previous year.

Bombay Stock Exchange has suspended Trading in securities of the company with effect from
19 july 2017 on account of non- compliance with Regulation 55 A of the SEBI (Depositories
and Participants) Regulations 1996for two consecutive quarters—December 2016and March

3. REFERENCE BEFORE BIFR

^The Company has referred to Board for Industrial and Financial Reconstructions (BIFR)

on 04/11/1991. However, the Ministry of Finance (MoF), vide notification nos. S.O.
3568(E) and 3569(E) dated 25 ^th November, 2016, has notified 1* December, 2016
(appointed date) as the date on which the provisions of Sick Industrial Companies (Special
Provisions) Repeal Act, 2003 (Repeal Act) shall come into force. The Repeal Act provides
for repeal of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) and
related matters. therefore, the SICA is repealed with effect from 1 December, 2016. Hence,

BIFR and AIFR stand dissolved with effect from that date, and all proceedings before them
stand abated. °

4. Meetings of the Beard /Commottees

During the year Seven Board Meetings were held.

Details of Directors attendance at Board Meetings and at the Last Annual General Meeting
(AGM) are given in the following table:

5. DIVIDEND

In view of accumulated losses suffered by the Company, your Directors have not
recommended any dividend for the financial year ended March 31, 2025.

6. AUDITORS
Statutory Auditors

M/s. Joshi Chhadva & Co LLP, Chartered Accountants, Statutory Auditors of the
Company, holds office until the conclusion of the ensuing Annual General Meeting and
are eligible for re-appointment.

7. SECRETARIAL AUDIT,

Secretarial Audit Report dated 19th September, 2025 by Mr. Ankit Mazumdar., Practicing
Company Secretary (CP No. 22261) is attached herewith as an ‘Annexure B’ to this Report.

Observations made in Auditors' Report together with relevant notes are self¬
explanatory and hence do not call for any further comments under section 134 of the
Companies Act, 2013.

7. CORPORATE GOVERNANCE REPORT

As per SEBI Circular No. CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014
Clause 49 of the Listing Agreement is not applicable to the Company as the Paid up-
Capital of the Company is less than Rs. 10 Crores and the Net worth is less than Rs. 25
Crores. But still your Company follows Corporate Governance of highest standards.

S. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Directors of the Company
state as under that:

1. In the preparation of the annual accounts, the applicable Accounting Standards had
been followed along with proper explanation relating to material departures;

2. The selected accounting policies were applied consistently and the Directors made
judgments and estimates that are reasonable and prudent so as to give true and fair
view of the state of affairs of the Company for the financial year ended March 31,

3. Proper and sufficient care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013, for
safe guarding the assets of the Company and for preventing and detecting fraud and
other irregularities;

4. The annual accounts have been prepared on a 'going concern’ basis;

5. Internal financial controls had been laid down to be followed by the company and
that such internal financial controls are adequate and were operating effectively; and

6. Proper systems had been devised to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.

9. BOARD OP DIRECTORS. EVALUATION ETC,

Appointment / Resignation of Directors

1. Mr. Arun Singhi, Director of the Company, was liable to retire by rotation and being
eligible offered himself for re-appointment. The Company in its 49th Annual General
Meeting held on 08th December, 2025 at 01:30 p.m. had appointed Mr. Arun Kumar
Singhi as Director.

2. Mr. Satya Kishore Mathur, Director of the Company, who is liable to retire by rotation
being eligible he offers himself for re-appointment.

10. COMPANY'S POLICY ON DIRECTORS APPOINTMENT AND remuneration etc.

The Company has prepared a policy on Director’s appointment and remuneration
pursuant to Section 178 of the Act. The Company has also laid down criteria for
determining qualifications, positive attributes and independence of Director.

11. PUBLIC DEPOSITS

The Company has not accepted any deposit within the meaning of Section 73 of the
Companies Act, 2013 and the rules made there under.

12. RELATED PARTY TRANSACTIONS

There are no related party contracts, arrangements or transactions of the nature
mentioned in sub-section (1) of Section 188 of the Companies Act, 2013 which are not at
arm’s length and during the year under review the Company did not enter into any
related party contracts, arrangements or transactions which are at arm’s length.

13. EXTRACT OF ANNUAL RETURN

Extract of Annual Return in Form MGT — 9 is attached as ‘Annexure A’ to this Report.

14. VIGIL MECHANISM

The company has a vigil mechanism named Whistle Blower Policy to deal with instances
of fraud and mismanagement.

15. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

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.

15. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

During the year under review, the Company has not given loans, guarantees or
investments under Section 186 of the Companies Act, 2013. The details of the

investments made by the Company are provided in the accompanying financial
statements.

17. EMPLOYEES' SAFETY

The Company is continuously endeavoring to ensure safe working conditions for all its
employees.

18. DISCLOSURE UNDER RULE 5(1)OF THE COMPANIES (APPOINTMENT AND
REMUNERATION). RULES. 2014

The information required pursuant to Section 197 read with Rule 5(1) of the Companies
(Appointment and Remuneration), Rules, 2014 in respect of employees of the Company
and Directors is attached as 'Annexure C’.

19. PARTICULARS OF EMPLOYEES

None of the employees is in receipt of remuneration for the year, which in aggregate was
more than the prescribed limit in terms of Rule 5(2) of the Companies (Appointment and
Remuneration) Rules, 2014 during the year ended March 31, 2021.

20. PARTICULARS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company enjoyed harmonious relations with the employees throughout the year.

21. CONSERVATION OF ENERGY. RESEARCH AND DEVELOPMENT. TECHNOLOGY
ABSORPTION AND FOREIGN EXCHANGE BARKINGS AND OUTGO

a) Conservation of Energy

The operation involves low level of energy consumption. Wherever possible
energy conservation measures have already been implemented. However, efforts
to conserve and optimize the use of energy through improved methods and
other measures will further continue.

h} Absorption of Technology

The Technology has been fully absorbed by the Company.

c) Foreign Exchange Earnings & Outgoings

During the year under review, details of Foreign Exchange earnings and outgo
are as follows:

Foreign Exchange Earnings : NIL

(In Indian Rupees)

Foreign Exchange Outgo : NIL

(In Indian Rupees)

Import of Raw Materials and Stores :NIL

22. PERSONNEL

Your Directors place on the record their appreciation of the contribution made by the
employees at all levels who, through their competence, diligence, solidarity, co-operation
and support, have enabled the Company to achieve the desired results during the period.

23. ACKNOWLEDGEMENTS

Your Directors acknowledge with gratitude the continuing co-operation and assistance
rendered by the Central Government, State Government, Financial Institutions, Banks,
Suppliers and other organizations in the working of the Company.

The Directors also wish to place on record their deep sense of appreciation for the
dedicated services rendered by the officers, staff and workmen of the Company.

The Board takes this opportunity to express its deep gratitude for the continuous support
received from the shareholders.

For and on behalf of the Beard of Directors
Place: Mumbai

Date: 19^th September, 2025

Satya Kishore Mathur Arun Kumar Singhi

Director Director

PIN: 00015707 DIN: 00309207