7NR Retail Ltd Directors Report.

To,

The Members,

Your Directors have pleasure in presenting the 8thAnnual Report together with Statement of accounts of your Company for the Year ended on March 31, 2020.

1. FINANCIAL RESULTS:

The Companys financial performance for the year under review along with previous year figures is givenhereunder:

(Amount in Lakh)

Particulars 2019-20 2018-19
Revenue from Operations 1184.20 1322.12
Other Income 13.41 6.14
Total Revenue 1197.61 1328.26
Profit before Finance Cost, Depreciation and Taxation 33.96 41.49
Depreciation 14.36 12.50
Finance Cost 0.61 1.01
Profit before Tax 18.99 27.98
Provision for Taxation :
(i) Current Income Tax 8.25 6.50
(ii) Deferred Tax -0.29 0.05
Profit after Income Tax 11.03 21.43

2. FINANCIAL REVIEW:

Your Companys total income for the year 2019-2020is Rs.1322.12/- Lakh compared to last years income of Rs. 1322.12 Lakh. The profit before tax (after Finance cost and depreciation) during the year under review was Rs.18.99 Lakh as compared to previous years figure of Rs.27.98Lakh. Your Company has earned the net profit of Rs. 11.03 Lakh against the net profit of Rs.21.43 Lakh during the previous year. Your Company expects to achieve better performance during the currentyear.

3. DIVIDEND AND RESERVES:

Your Directors do not recommend the payment of dividend for the year ended 31st March, 2020.

Further the Company has not transferred any amount to reserves during the year.

4. CHANGE IN THE NATURE OF BUSINESS

During the year the Company has not changed its business.

5. SHARECAPITAL:

Authorized Share Capital:

During the year under review, the Authorised Share Capital of the Company is Rs.11,00,00,000 (Rupees Eleven Crores only) divided into 1,10,00,000 ( One Crore and Ten Lakh Only) equity shares of Rs. 10/-each.

Paid-up Share Capital:

The Paid up share capital of the Company as on 31st March, 2020 was Rs.10,47,45,000/- (Rupees Ten Crore Forty Seven Lakh Forty Five Thousand) Equity Shares of Rs. 10/- (Ten) each.

No bonus shares were issued during the year under review. The Company did not make any allotment through ESOPs during the year.

6. NUMBER OF BOARD MEETINGS:

During the year under review, the Board of Directors duly met 9(Nine) times.

Details of Board meetings for the year under review are tabulated hereunder:

Sr. No. Date of Board Meetings Pinal Shah Riddhi Shah* Eity Pandey* Vinay Raval Sudhir Baraiya* Rachanaben Jain*
1. 12.04.2019 -- --
2. 30.05.2019 -- --
3. 19.06.2019 -- --
4. 09.07.2019 -- --
5. 03.09.2019 -- --
6. 14.11.2019 -- --
7. 31.12.2019 -- --
8. 14.02.2020 -- --
9. 27.02.2020 -- --
Total 09/09 03/03 03/03 09/09 06/06 06/06

*Mrs. Riddhi Pinal Shah and Ms. Eity Pandey resigned from the Board with effect from 19th June, 2019.Mr. Sudhirbhai Baraiya and Mrs. Rachanaben Jain were appointed as Additional directors on Board with effect from 19th June, 2019.

7. DEPOSITS:

During the year under review, your Company has not invited nor accepted any public deposits within the meaning of section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014 hence the requirement for furnishing of details of deposits which are not in Compliance with the Chapter V of the Companies Act, 2013 is not applicable.

8. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

Pursuant to provisions of Regulation 277 of SEBI ICDR Regulations, 2019, Company can voluntarily migrate from SME Exchange to Main Board. The Board of Directors of the Company in its meeting held on 12th April, 2019 decided to migrate from BSE SME Exchange to BSE Main Board which was approved by the members of the Company by way of Special Resolution vide Postal Ballot concluded on 17th May, 2019.The Company has made an application to BSE Main Board for migration on 22nd July, 2019.The said application was approved by the BSE and the Company got listed its Equity shares on Main Board of BSE Limited w.e.f. 28th August, 2019.

Company has received an E-mail on 20th August, 2020 regarding Non-compliance with the provisions of Regulation 17(1), 17(1A), 18(1), 19(1), 19(2), 20(2)/(2A), 21(2) of SEBI (LODR) Regulations, 2015 and imposed penalty of Rs. 5,36,900(Including GST). The Company has submitted waiver request on the same to BSE on 22nd August, 2020 and the status of Waiver Request is under Process.

9. DIRECTORS AND KEY MANAGERIAL PERSONNEL, APPOINTMENT AND RESIGNATION:

CHANGES IN DIRECTORS:

Mrs. Riddhi Pinal Shah, (DIN:05197462)Executive Director of the Company has resigned from Directorship of the Company with effect from 19th June, 2019.

Ms. Eity Suryanarayan Pandey, (DIN: 07115578) Non- Executive Independent Director of the Company has resigned from the post of director of the Company with effect from 19thJune, 2019.

Mr. Sudhirbhai Baraiya (DIN: 08477351) was appointed as Additional Independent Director of the Company with effect from 19th June, 2019, approved by the members of the Company vide 7thAnnual General Meeting held on 28th September, 2019.

Mrs. Rachanaben Jain (DIN:08477349) was appointed as Additional Independent Director of the Company with effect from 19th June, 2019 approved by the members of the Company vide 7th Annual General Meeting held on 28th September, 2019. On 27th February, 2020 the designation of Mrs. Rachanaben Jain has been changed from Nonexecutive Independent Director to Non-executive non-Independent Director of the Company.

Mr. Gaurav Dilipkumar Kimtani (DIN:08065665) was appointed as Additional Independent Director of the Company with effect from 2nd September, 2020 subject to approval by the members of the Company at the ensuing Annual General Meeting of the Company.

Mr. Amitkumar Kodarlal Choudhary (DIN:08857986) was appointed as Additional Independent Director of the Company with effect from 2nd September, 2020 subject to approval by the members of the Company at the ensuing Annual General Meeting of the Company.

CHANGES IN KEY MAANGERIAL PERSONNEL:

Ms. Shaili Samir Mehta, Company Secretary and Compliance Officer of the Company resigned from the post with effect from 5th June, 2019.

Ms. Kiran Prajapati was appointed as Company Secretary and Compliance Officer of the Company with effect from 9th July, 2019.

RE-APPOINTEMNT OF DIRECTOR:

In accordance of the provision of section 152 of the Companies Act, 2013, Mrs. Rachanaben Jain (DIN:08477349) retires by rotation at the ensuing Annual General Meeting and being eligible in terms of section 164 of the Act and offer herself for re-appointment.

10. REMUNERATION POLICY:

The Company has in place a policy for remuneration of Directors, Key Managerial Personnel and Employees of senior leadership Position as well as well-defined criteria for the selection of candidates for appointment of the said positions which has been approved by the Board follows a policy on remuneration of Directors and senior management employees, details of the same are given in the website of the Company www.7nrretailltd.in.

11. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:

The Company had no Subsidiary or Joint Ventures or Associate Companies as on 31stMarch, 2020.

12. PARTICULARS OF LOANS, GURANTEES OR INVESTMENT BY THE COMPANY:

There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is notapplicable.

13. EXTRACTS OF ANNUAL RETURN:

In accordance with section 134(3)(a) of the Companies Act, 2013, an extract of Annual Return in the prescribed format is appended to this Report as Annexure I.

14. CRITERIA FOR APPOINTMENT OF MANAGING DIRECTOR/WHOLE-TIME DIRECTOR:

The appointment is made pursuant an established procedure which includes assessment of managerial skills, professional behavior, technical skills and other requirements as may be required and shall take into consideration recommendation, if any, received from any member of the Board.

15. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The Company has adopted the policy on Materiality of Related Party Transaction for the purpose of identification and monitoring Related Party transactions between the Company and its related parties. All transactions if any with Related Parties are placed before the Audit Committee and Board for prior approval. The Policy on Materiality of Related Party Transaction has been available on the website of the Company at www.7nrretailltd.in.

During the year, the Company had not entered into any transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions. Accordingly, the disclosure of Related Party Transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable.

16. VIGIL MECHANISM/WHISTLE BLOWER MECHANISM:

The Company has established a Whistle Blower Policy for its Directors and Employees to deal with instances of actual or suspected fraud or violation of the Companys Code of Conduct & Ethics fraud and mismanagement, if any. The Vigil Mechanism has been available on the website of the Company www.7nrretailltd.in.

17. INTERNAL FINANCIAL CONTROL SYSTEM:

The Company has an Internal Control System in place commensurate with the size, scale and complexity of its operations. The scope and authority of the Internal Financial Control function is well defined.

18. RISK MANAGEMENT:

In line with the regulatory requirements, the Company has framed a Risk Management mechanism to identify and assess the key business risk areas and to put in place a mechanism for mitigation of risk. A detailed exercise is being carried out at regular intervals to identify, evaluate, manage and monitor all business risks. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined framework.

In the opinion of the Board, no risk has been identified that may threaten the existence of the Company.

19. AUDITORS OF THECOMPANY:

SECRETARIAL AUDITORS AND THEIR REPORT:

Pursuant to provisions of section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 for providing Secretarial Audit Report under Companies Act, 2013 and under Regulation 24A of SEBI (LODR) Regulation, 2015, the Company had appointed Ms. Alpana Sethia, Practicing Company Secretary, Ahmedabad as Secretarial Auditor of the Company to undertake the Secretarial Audit for the financial year 2019-2020. The Secretarial Audit report for the financial year 2019-2020 issued by Ms. Alpana Sethia, Practicing Company Secretary has been annexed as Annexure II to this report. There were no qualifications or adverse mark in this report.

INTERNAL AUDITOR:

In accordance with the provisions of section 138 of the act and rules made thereunder.Mr. Ravi Patel is appointed as an internal auditor to conduct the internal audit of the Company for the F.Y. 2020-2021 as on 25th May, 2020.

STATUTORY AUDITORS AND THEIR OBSERVATIONS:

Members of the Company at the Annual General Meeting (‘AGM) held on 12thJune, 2017, approved the appointment of M/s. Loonia & Associates Chartered Accountants, as the statutory auditors of the Company for a period of five years commencing from the conclusion of the 5 th Annual General Meeting held on 12thJune 2017 until the conclusion of 9thAnnual General Meeting of the Company to be held in the year 2021. M/s. Loonia & Associates Chartered Accountants has audited the book of accounts of the Company for the Financial Year ended 31st March, 2020 and has issued the Auditors Report thereon.

Further, M/s. Loonia & Associates Chartered Accountants, has confirmed that they are eligible to continue as Statutory Auditors of the Company to audit the books of accounts of the Company for the Financial Year ending March 31, 2020 and accordingly M/s. Loonia & Associates Chartered Accountants, will continue to be the Statutory Auditors of the Company for Financial Year ending March 31, 2020.

The Auditors Report does not contain any qualification. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments.

20. COST AUDITORS:

The provisions of Cost Audit as prescribed under Section 148 of the Act and the rules framed thereunder are not applicable to the Company.

21. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Regulation 34 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 (“Listing Regulations”) the Management Discussion and Analysis of the Company for the year under review is presented in a separate section forming the part of the Annual Report is attached here with as Annexure III.

22. PARTICULARS REGARDING EMPLOYEES REMUNERATION:

During the year under review, there are no employees drawing remuneration which is in excess of the limit as prescribed under the Rule with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The information as required under the provisions of Section 197 read with Rule 5(1)of the Companies (Appointment and Remuneration of Managerial Personnel), 2014 is annexed herewith as Annexure IV.

23. CORPORATE GOVERNANCE REPORT:

During the Current Financial Year, the Company migrated from BSE SME Board to BSE Main Board on 28.08.2019 hence Corporate Governance Report is applicable from this Financial Year i.e. 2019-2020.

As required in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a detailed report on Corporate Governance along with certificate from Auditors of the Company confirming compliance with conditions of Corporate Governance requirements by the Company, forms part of the Annual report and is attached herewith as ANNEXURE- V.

24. DIRECTORS QUALIFICATION CERTIFICATE:

In terms of SEBI (LODR) Regulation 2015, a Certificate from Ms. Alpana Sethia, Practicing Company Secretary stating that none of the directors on the board of the Company have been debarred or disqualified from being appointed or continuing as director of Companies by the Board/Ministry of Corporate Affairs or any such statutory authority, appear as Annexure VI to this report.

25. PREVENTION OF INSIDER TRADING:

During the year, the Company amended the Insider Trading Policy in line with the SEBI(Prohibition of Insider Trading) (Amendment) Regulations, 2018. The Corporate Policy on Investor Relations was amended. The amended policy is available on our website www.7nrretailltd.in

26. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE:

There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status and the Companys future operations.

27. CORPORATE SOCIAL RESPONSIBILITY:

The provisions relating to Corporate Social Responsibility are not applicable to the Company.

28. CRITERIA FOR APPOINTMENT OF INDEPENDENT DIRECTORS:

An Independent Director shall be a person of personal and professional ethics, integrity and values havingappropriate balance of skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing and technical operations or any other discipline related to the Companys business. The Company did not have any peculiar relationship or transactions with non-executive Directors during the year ended 31stMarch,2020.

29. CRITERIA FOR APPOINTMENT OF MANAGING DIRECTOR/WHOLE-TIME DIRECTOR:

The appointment is made pursuant an established procedure which includes assessment of managerial skills, professional behavior, technical skills and other requirements as may be required and shall take into consideration recommendation, if any, received from any member of the Board.

30. FAMILIARIZATION PROGRAM FOR THE INDEPENDENT DIRECTORS:

The Company has in place a process for familiarization of newly appointed directors with respect to their respective duties and departments. The highlights of the Familiarization Programme are explained in the Corporate Governance Report forming part of this Annual Report and are also available on the Companys website

31. DECLARATION FROM INDEPENDENT DIRECTORS:

All the Independent Directors on the Board have given a declaration of their independence to the Company as required under section 149(6) of the Companies Act, 2013.

32. MEETING OF INDEPENDENT DIRECTORS:

During the year under review, the Independent Directors met on 12thFebruary, 2020 inter alia, to discuss:

> Review of the performance of the Non- Independent Directors and the Board of Directors as a whole.

> Review of the Chairman of the Company, taking into the account of the views of the Executive and Non- Executive Directors.

> Assess the quality, content and timeliness of flow of information between the management and the Board that is necessary for the Board to effectively and reasonably perform its duties.

All the Independent Directors were present in the meeting.

33. COMMITTEES OF THE BOARD:

During the year, your Directors have constituted or reconstituted wherever required, the following committees of the Board is in accordance with the requirements of the Companies Act, 2013. The Composition, terms of reference and other details of all Board level committees have been elaborated in detail:

AUDIT COMMITTEE:

The Audit Committee comprises of non executive Independent Director and Managing Director as its Member. The Chairman of the committee is Independent Director.

During the Financial year 2019-2020, 3 meeting of Audit Committee were held on 30.05.2019, 14.11.2019 and 14.02.2020.

The Composition of Audit Committee and the details of meetings attended by the members during the year are given below:

Sr. No. Name of theDirector Status Nature of Directorship No. of Meetings Meeting attended
1. Ms. Eity Pandey* Chairman Non-Executive & Independent Director 3 1
2. Mr. Vinay Raval Member Non-Executive & Independent Director 3 3
3. Mr. Pinal Shah Member Managing Director 3 3
4. Mr. Sudhirbhai Baraiya** Chairman Non-Executive & Independent Director 3 2

*Ms. Eity Pandey resigned from the Board with effect from 19th June, 2019.

**Mr. Sudhirbhai Baraiya was appointed as Additional Director on the Board with effect from 19th June, 2019, approved by the members vide7th Annual General Meeting of the Company held on 28th September, 2019.

NOMINATION AND REMUNERATION COMMITTEE:

The Committee comprises of three non-executive Directors as its members. The Chairman of the Committee is an Independent Director.

During the Financial year 2019-2020, 5 meeting of Nomination and Remuneration Committee were held on 12.04.2019, 19.06.2019, 09.07.2019, 03.09.2019 and

27.02.2020.

The Composition of Nomination and Remuneration Committee and the details of meetings

attended by the members during the year are given below:

No. Name of the Director Status Nature of Directorship No. of Meetings Meeting attended
1. Mr. Vinay Raval Chairman Non- Executive 15 5
2. Ms. Eity Suryanarayan Pandey* Member Non-Executive 15 2
3. Mrs. Riddhi Pinal Shah* Member Non- Executive 5 2
4. Mr. Sudhirbhai Baraiya** Member Non-Executive &Independent Director 5 3
5. Mrs. Rachanaben Jain** Member Non-Executive& Non-Independent Director 5 3

*Ms. Eity Pandey and Mrs. Riddhi Pinal Shah resigned from the Board with effect from 19th June, 2019.

**Mr. Sudhirbhai Baraiya and Mrs. Rachanaben Jain were appointed as Additional Directors on the Board with effect from 19th June, 2019,approved by the members vide 7th Annual General Meeting of the Company held on 28th September, 2019.

STAKEHOLDER RELATIONSHIP COMMITTEE

The Committee comprises of two non-executive Directors and Managing Director as its members. The Chairman of the Committee is an Independent Director.

During the Financial year 2019-2020, 2 meeting of Stakeholder Relationship Committee were held on 03.01.2020 and 27.02.2020.

The Composition of Stakeholder and Relationship Committee and the details of meetings attended by the members during the year are given below:

Sr. No. Name of the Director Status Nature of Directorship No. of Meetings Meeting attended
1. Mr. Vinay Raval Chairman Non-Executive & Independent Director 2 2
2. Mr. Pinal Shah Member Managing Director 2 2
3. Ms. Eity Pandey* Member Non- Executive& Independent Director 2 0
4. Mr. Sudhirbhai Baraiya** Member Non-Executive & Independent Director 2 2

*Ms. Eity Pandey has resigned from the board as Independent Director with effect from 19thJune, 2019

** Mr. Sudhirbhai Baraiya was appointed as Additional Director on the Board with effect from 19th June, 2019, approved by the members vide 7th Annual General Meeting of the Company held on 28th September, 2019.

34. POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION AND OTHER DETAILS:

The Companys policy on appointment of directors is available on

http: / /www.7nrretailltd.in/docs/policy/Terms%20and%20Conditions%20of%20appointm ent%20of%20Independent%20Directors.pdf. The policy on remuneration and other matters provided in Section 178(3) of the Act has been disclosed in the Corporate Governance Report, which is a part of this report and is also available on

35. BOARD EVALUATION:

The Board of Directors has carried out an annual evaluation of its own performance, board committees and individual directors pursuant to the provisions of the Act and SEBI Listing Regulations.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the board composition and structure, effectiveness of board processes, information and functioning, etc.

The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings, etc.

In a separate meeting of independent directors, performance of non-independent directors, the Board as a whole and the Chairman of the Company was evaluated, taking into account the views of executive directors and non-executive directors.

36. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING ANDOUTGO:

Particulars relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo as per provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company hence the same is not disclosed in the Annual report.

37. DIRECTORS RESPONSIBILITY STATEMENT:

It is hereby stated that:

(i) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to materialdepartures;

(ii) 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 and of the profit of the Company for thatperiod;

(iii) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 and Rules made thereunder for;

(iv) safeguarding the assets of the company and for preventing and detecting fraud and otherirregularities;

(v) the directors had prepared the annual accounts on a going concernbasis;

(vi) 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 effectivelyand

(vii) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operatingeffectively.

38. POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT OF WOMEN ATWORKPLACE:

Your Company has framed a Policy of Sexual Harassment of women at workplace for prevention, prohibition and redressal of Complaints relating to sexual harassment of women at work place. All women employees of the Company are covered under this Policy. The Sexual Harassment policy has been available on the website of the Company www. 7nrretailltd. in.

The Company has not received any complaints on sexual harassment and hence no compliant remains pending as on 31st March, 2020.

39. POLICY OF CODE OF CONDUCT FOR DIRECTOR AND SENIOR MANAGEMENT:

Your Company has adopted the policy of code of Conduct to maintain standard of business conduct and ensure compliance with legal requirements. The Policy on Code of Conduct for Director and Senior Management has been available on the website of the Companywww.7nrretailltd.in.

40. DEMATERIALISATION OF SHARES:

As on 31st March, 2020, a total of 1,04,74,500 equity shares aggregating to 100% of the total issued, subscribed and paid-up equity share capital of the Company were in dematerialized form. The Company ISIN No. is INE413X01019.

One Remat request received for 79 shares on 30th July, 2020 and the same has been processed.

41. COMPANY AFFIRMATION OF READINESS TOWARDS COVID-19:

In the last month of FY 2020, the COVID-19 pandemic developed rapidly into a global crisis, forcing governments to enforce lock-downs of all economic activity. For the Company, the focus immediately shifted to ensuring the health and well-being of all employees, and on minimizing disruption to services for all our customers.

Accordingly, as a responsible private establishment, your Company also took part in the mission of social distancing by:

• Putting in place Work from Home Policy (WFH) for the employees of the Company;

• Conduct of meetings through VC, telephone, computerised& other electronic means;

• Strictly adhering to the “Dos and Donts” advised by the Public Health Authorities; Only essential staff are being called on duty with staggered timings to be followed in order to minimise physical interaction in the Office

• To follow other preventive measures prescribed by the local authorities from time to time.

42. STATEMENT PURSUANT TO LISTINGAGREEMENT:

The Company Equity Shares is listed at Bombay Stock Exchange Limited. The Annual Listing fees for the year 2020-2021 have been paid.

During the current financial year 2019-20, the Equity Shares of the Company got listed on Main Board of BSE Limited w.e.f. 28th August, 2019.

ACKNOWLEDGEMENT:

Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on your Company.

For and On Behalf of Board of Directors of

7NR RETAIL LIMITED

Place: Ahmedabad SD/-
Date: 04.09.2020 Pinal Kanchanlal Shah
ManagingDirector/Chairman
DIN: 05197449