Advik Capital Ltd Directors Report

Dear Shareholders,

The Directors present the 39^th Annual Report together with the Audited Statement of Accounts for the financial year ended March 31, 2024.

FINANCIAL RESULTS AND OPERATIONS

The financial performance of your Company for the year ended March 31, 2024 is tabulated below: (Amount in Lakhs)

	Standalone		Consolidated
Particulars	2023-24	2022-23	2023-24	2022-23
Net Sales /Income from Business Operations	2745.92	34927.12	83958.99	60428.92
Other Income	4.75	7.15	846.88	7.98
Total Income	2750.67	34934.26	84805.86	60436.89
Financial Costs	741.64	277.73	755.26	297.05
Provision for impairment on financial Instruments	65.31	98.05	65.31	98.05
Loss in fair value Measurement	(2.92)	17.50	(7.00)	40.83
Purchase of Stock in trade	988.79	33066.35	83698.60	57933.47
Cost of Material Consumed	-	-	104.15	549.45
Changes in Inventories and stock in trade	111.09	(20.67)	(1056.86)	(44.76)
Employee Benefit Expense 77.50 43.85 96.06				69.36
Depreciation and Amortization Expense	39.47	7.59	52.49	24.08
Other Expenses	143.09	134.87	199.60	186.73
Total Expenses	2163.97	33625.28	83907.62	59154.26
Profit before Exceptional items	586.70	1308.99	898.25	1282.63
Add: Exceptional items	-	-	-	-
Net Profit Before Tax	586.70	1308.99	898.25	1282.63
Less: Current Tax	183.74	357.98	271.22	358.50
Less: Deferred Tax liability/(assets)	(1.04)	(3.60)	(8.59)	(10.75)
Profit for the Period	403.99	954.61	635.62	934.88
Other Comprehensive Income/(loss)
(A) items that will not be re-classified to profit & loss (net of tax effect)	(77.74)	(896.82)	(77.74)	(896.82)
(B) Income Tax effect on herein above (net of tax effect)		-	-	-
Total other Comprehensive Income	(77.74)	(896.82)	(77.74)	(896.82)
Total Comprehensive Income/(Loss) for the pe- riod	326.26	57.79	557.88	38.06
Profit attributable to Equity Holders of the Parent	-	-	569.02	37.78
Profit attributable to Equity Holders to Non-Con - trolling Interest		-	(11.15)	0.28
Basic EPS	0.10	0.03	0.20	0.42

During the year under review, the Company achieved a turnover of Rs. 2,745.92 Lakhs as against Rs. 34,927.12 Lakhs for previous year whereas, the profit of the Company for the period under review were Rs. 403.99 Lakhs as compared to profit of the company previous year. Rs. 954.61 Lakhsinthe On consolidated basis, the Company recorded a turnover of Rs. 83958.99 Lakhs during the financialyear 2023-2024 and achieved Net Profit of Rs. 635.62 Lakhs for the said financial Your Company has managed to book good number of profits during the period under review and your management is optimistic to back on track in near future and register good volumes with profitability.

BUSINESS OVERVIEW

Your Company is currently engaged in NBFC and Financial activities. The Company intends to continue focusing on NBFC activities including financing, Inter- corporate Investments & Capital Market activities. The

Company continues to enhance its business operations by ensuring that our network of customers increases through our marketing efforts.

We intend to remain diversified in our loan book by strategically focusing on adjacent high growth and profitable lending businesses and further expand our lending and other businesses. We intend to continue to focus on developing a diversified funding model to achieve optimal cost of funds while balancing liquidity and concentration risks. As our cost of borrowings is determined by our financial discipline and business performance, we intend to source funding at competitive rates. In particular, with respect to our credit business, a decrease in cost of borrowings will enable us to price our products in a more competitive manner. We intend to further diversify and strengthen our profile, strategically adding additional funding resources.

We intend to continue to grow our loan portfolio by expanding our network through the addition of new branches. A good reach to customers is very important in our business. Increasedrevenue,profitabilityand visibility are the factors that drive the branch network. Our strategy for branch expansion includes further strengthening our presence in various parts of India by providing higher accessibility to customers.

IMPACT OF CHANGE IN CONTROL AND MANAGEMENT PURSUANT TO OPEN OFFER MADE IN THE PREVIOUS FINANCIAL YEAR

In the preceding year 2022-23, the Companys erstwhile promoters Mr. Virender Kumar Agarwal and Mr. Shakul Kumar Agarwal has entered into a Share Purchase Agreement with Mr. Vikas Garg and Mrs. Seema Garg (hereinafter referred as Acquirers) and Ms. Sukriti Garg (hereinafter referred as Person Acting in Concert), collectively known as Acquirers to sell their entire stake in Advik Capital Limited ("the Company")

Consequently, an Open Offer was made by the Acquires. Upon completion of the said open offer, our Company was acquired by Mr. Vikas Garg and Mrs. Seema Garg in the previous fiscal i.e., 2022-2023, by acquisition of total 1,73,84,000 Equity Shares and resultantly the management of your Company underwent a change. In furtherance to change in management certain other changes took place in companys management, situation and object clauses of the Memorandum of Association of the Company among others.

After change in the management of the Company, the promoters and the management had tried their best to continue the growth of the Company and worked upon various factors of risk that results in the favor of the Company. The experience of the professionals and the management was impactful in every aspect for the overall growth of the Company.

TRANSFER TO RESERVE

Under section 45-IC (1) of Reserve Bank of India (‘RBI) Act, 1934, non-banking financial companies (‘NBFCs) are required to transfer a sum not less than 20% of its net profit every year to reserve fund before declaration of any dividend. Accordingly, the ‘Company has transferred a sum of Rs. 80.80 Lakhs to its reserve fund.

Also, the company has pursuant to Notification of Reserve Bank of India dated January 17, 2011 vide Notification no. DNBS.PD.CC. No.207/03.02.002/2010-11 for making the ‘Provision of 0.25% for Standard Assets of NBFCs, the Company has transferred a sum of Rs. 38.42 Lakhs i.e., 0.25% on the Standard Assets of the Company under the Other Non-Financial Liabilities named "Provision for Bad and Doubtful Debts".

Further the company is complying with all the Reserve Bank of India guidelines as issued from time to time related to provisioning and reserves.

DIVIDEND

In order to conserve the resources of the Company, your directors have not recommended any dividend for the yunder review. financial

SHARE CAPITAL

As on March 31, 2024, the Issued and Paid-up Share Capital of the Company stood at Rs. 42,81,53,600/- divided into 42,81,53,600 fully paid-up equity shares of face value of Rs. 1/- per share.

During the financial year 2023-24, to augment the long-term financial resources of the Company, the members by way of passing special resolution through Postal Ballot on May 18, 2023 approved the increase in Authorized Share Capital of the Company from Rs. 25,00,00,000 (Rupees Twenty-Five Crores) consisting of 25,00,00,000 (Twenty-Five Crores) Equity Shares of Rs. 1/- (Rupee One) each to Rs. 75,00,00,000 (Rupees Seventy-Five Crores) consisting of 75,00,00,000 (Seventy-Five Crores) Equity Shares of Rs.1/- (Rupee One) each.

Further, also approved the raising of funds by way of a rights issue for up to an aggregate amount of Rs. 50 Crore (Rupees Fifty Crore), in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws.

The Board of Directors has passed the resolution on April 11, 2023 for raising of funds by way of a rights issue for up to an aggregate amount of Rs. 50 Crore (Rupees Fifty Crore). Further, also approved by the members of the Company by passing special resolution through Postal ballot on May 18, 2023, further, the allotment has been done on October 11, 2023, in accordance with the Companies Act, 2013 and the rules made thereunder.

DEPOSITS

During the period under review the Company has not accepted any public deposits and therefore no amount on account of principal or interest on public deposits was outstanding as on the date of the Balance Sheet. In addition of above, the Company is registered as a Non-Banking Finance Company- Not accepting deposits. Hence, pursuant to Section 45- IA of the Reserve Bank of India Act, 1934, the Company cannot accept deposits from public, which is compiled by the Company during the Financial Year. Further, the Directors of the company assured to carry on the practice of not accepting the same in order to comply with RBI norms and guidelines in the coming year and the same has been proposed and passed in the meeting of Board of Directors dated April 29, 2023.

RBI GUIDELINES

The Company continues to comply with all the applicable regulations prescribed by the Reserve Bank of India ("RBI"), from time to time.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

The Company, being an NBFC registered with the RBI and engaged in the business of giving loans in ordinary course of its business, is exempt from complying with the provisions of section 186 of the Act with respect to loans and guarantees. Accordingly, the disclosures of the loans given as required under the aforesaid section have not been made in this Report. However, the particulars of loans and investments are provided in the notes to Financial Statements.

Your Company has neither given the guarantee nor has provided any security during the year under review except the corporate guarantee and collateral security of Rs. 142.84 Lakhs in favour of its Subsidiary Company Advik Optoelectronics Limited for availing the banks credit facility.

SUBSIDIARY & ASSOCIATES COMPANY

During the year, "Advik Optoelectronics Limited" and "Advikca Finvest Limited" continues to be the subsidiary and a wholly owned subsidiary respectively, of your Company. Apart from these two there are no other

Associate or Joint Venture Company.

The Annual Report of the Subsidiary Company will be made available for inspection by the Members of the

CompanyattheRegistered between 11:00 A.M. to 1:00 P.M. on any working day.

Audited Financial Statements of the Subsidiary Companies are also available on the website of the Company at www.advikcapital.com and shall also be provided to the members of the Company upon receipt of written requests from them.

During the year, the Board of Directors reviewed the affairs of the subsidiary Company and pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of Companies (Accounts) Rules, 2014, Consolidated

Financial Statements of the Company has been annexed to the Annual Report which reflects the performance and financial position of each of the subsidiary

Further a statement containing salient features of the Financial Statements of the aforesaid Subsidiary Companies have been provided in Form No. AOC-1 and included in this Annual Report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments affecting the financial position of your Company occurring between the end of the Financial Year and the date of this Report.

However, major events happened occurred between the end of the financial year to which these statements relate and the date of the report:

Right Issue of Fully Paid-Up Equity Shares

The Board of Directors has passed the resolution on March 23, 2024 for raising of funds by way of a rights issue for up to an aggregate amount of Rs. 50 Crore (Rupees Fifty Crore). Further, it was also approved by the members of the Company by passing special resolution through Postal ballot on April 25, 2024, in accordance with the Companies Act, 2013 and the rules made thereunder.

WEB ADDRESS FOR ANNUAL RETURN

The Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 of your Company for the financial year under review is available at website of your Company www.advikcapital.com l under the "Investor Zone" section.

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis of the financial conditions, future outlook and results of the operations of the Company for the year under the review, as stipulated under Regulation 34(2)(e) of SEBI (LODR) Regulations,

2015 is given under separate section of this Annual Report and forms part of the Directors Report.

CORPORATE GOVERNANCE REPORT

The Company believes in adhering to the best corporate governance practices and its philosophy emphasizes on fair and transparent governance and disclosure practices which helps your Company to follow the path of its vision and mission. It strongly believes in developing best corporate governance policies and procedures based on principals of fair and transparent disclosures, equity, accountability and responsibility. A detailed report on Corporate Governance, in terms of Regulation 34 of the Listing Regulations is forming part of the

Annual Report.

A certificate confirming compliance with requirements of Corporate Governance as enumerated under the extant provisions of Listing Regulations issued by Mr. Pankaj Kumar Gupta, Proprietor of Kumar G & Co.,

Company Secretaries is also annexed to the said report.

WHISTLE BLOWER POLICY AND VIGIL MECHANISM

In terms of provisions of section 177 of the Companies Act, 2013 and rules framed thereunder read with

Regulation 22 of the Listing Regulations, your Company has a vigil mechanism in place for the Directors and

Employees of the Company through which genuine concerns regarding various issues relating to inappropriate functioning of the organization can be communicated. For this reason, your Board has formulated a Whistle Blower Policy and uploaded on the website of the Company at www.advikcapital.com. During the year under review, there has been no incidence reported which requires action by the Board or Committee.

BOARD OF DIRECTORS

The Board of Directors provides the blue print to the success of any organization, it plans and implements various strategies to grow not only in numbers but in value and cater to its stakeholders.

Your Companys Board consists of learned professionals and experienced individuals from different fields. As on the date of report, your Board comprises of Six Directors, and Company Secretary. Amongst the directors, three are executive, and three are Non-Executive Independent Directors including Two Women Independent Directors on the Board. On the recommendation of Nomination and Remuneration Committee following changes took place in the composition of Board of Directors:

Sl. No. DIN	Name	Designation	Change
Incoming Directors
1. 05357861	Mr. Karan Bagga	Whole time Director cum CEO	Appointment (w.e.f., April 15, 2023)
2. 10140086	Mr. Pankaj	Whole time Director (Finance)	Appointment (w.e.f., June 21, 2023)
10140086	Mr. Pankaj	CFO	Appointment (w.e.f., July 01, 2023)
Outgoing Directors
1. 09651038	Mr. Ashwini Kumar	Whole-Time Director cum CFO	Resignation (w.e.f., July 01, 2023)
2. 09270389	Mrs. Gunjan Jha	Independent Director	Resignation (w.e.f., July 01, 2024)

During the financial year under review, Mr. Karan Bagga who was already appointed as an Additional Director got also appointed as Whole-Time Director cum CEO of the Company w.e.f. April 15, 2023.

Further, Mr. Pankaj, was appointed as Director in Finance w.e.f., June 21, 2023, who was further appointed as CFO w.e.f., July 01, 2023. Subsequently, Mr. Ashwini Kumar resigned from the designation of Whole-Time Director cum CFO of the Company w.e.f., July 01, 2023.

After the closure of Financial Year 2023-24, Mrs. Gunjan Jha has resigned from the designation of Independent Director of the Company w.e.f., July 01, 2024.

The latest composition of Directors as on the date of report is set out in the table below:

Name of Directors	Designation
Mr. Vikas Garg	Director and Promoter
Mr. Karan Bagga	Whole-Time Director cum CEO
Mr. Pankaj	Director cum CFO
Mr. Devender Kumar Garg	Independent Director
Ms. Sony Kumari	Independent Director
Ms. Swati Gupta	Independent Director

Declarations by Independent Directors

All the Independent Directors have given a declaration under section 149(7) of the Act confirming that they fulfil the criteria of independence as provided under section 149(6) of the Act [including compliance of Rule 5 and 6 of Companies (Appointment and Qualification of Directors) Rules, 2014] and regulations 16(1)(b) & 25 of Listing Regulations and have also complied with the Code for Independent Directors as prescribed in Schedule

IV of the Act.

All the Independent Directors of the Company have registered themselves in the data bank maintained with the Indian Institute of Corporate Affairs, Manesar (‘IICA"). In terms of section 150 of the Act read with rule 6(4) of the Companies (Appointment & Qualification of Directors) Rules, 2014, the Independent Directors are required to undertake online proficiencyself-assessment test conducted by the IICA within a period of two (2) year from the date of inclusion of their names in the data bank. The Independent Directors, whosoever is required, shall undertake the said proficiency test.

In the opinion of the Board all Independent Directors possess strong sense of integrity and having requisite experience (including proficiency), qualification, skills and expertise as well as independent of the management.

There has been no change in the circumstances which may affect their status as Independent Director during the financial year under review.

None of the Directors disqualifies for appointment under Section 164 of the Companies Act, 2013

Appointment and Resignation of Key Managerial Personnel

The Board of your Company consisted of the following Key Managerial Personnel (KMPS) during the reporting year and thereafter up-to the date of Board Report

1. Company Secretary :	Ms. Deepika Mishra
2. Whole-Time Director cum Chief Executive Officer :	Mr. Karan Bagga
3. Director cum Chief Financial Officer :	Mr. Pankaj

*During the financial year under review, Mr. Karan Bagga was appointed as Whole-Time Director Cum CEO w.e.f., April 15, 2023.

Further, Mr. Pankaj was appointed on the designation of Director (Finance) cum Whole-Time Director of the

Company with effect from June 21, 2023.

Further, Mr. Ashwani Kumar has resigned from the designation of Whole-Time Director and CFO w.e.f. July 01,

2023 and subsequently, Mr. Pankaj, who was already holding the designation of Director (Finance) cum Whole-

Time Director, was appointed as Chief Financial Officer of the Company on the same

As per the requirement under the provisions of section 203 of the Act, the following are the Key Managerial Personnel (‘KMP) of the Company as on the date of this report:

Name	Designation
Mr. Karan Bagga	Whole-Time Director & CEO
Mr. Pankaj	Director & CFO
Ms. Deepika Mishra	Company Secretary & Compliance Officer

There has been no change other than above in the Directors and the Key Managerial Personnel during the financial year 2023-24.

PERFORMANCE EVALUATION OF THE BOARD

In line with the statutory requirements enshrined under the Companies Act, 2013 and the Listing Regulations, the Board carried out a performance evaluation of itself, its Committees, the Chairman and each of the other Directors. The performance evaluation was carried out on the basis of framework approved by the Nomination and Remuneration Committee. The Committee had unanimously consented for an ‘in-house review built on suggestive parameters. Based on the suggestive parameters approved by the Nomination and Remuneration Committee, the following evaluations were carried out: • Review of performance of the non- independent Directors and Board as a whole by Independent Directors. • Review of the performance of the Chairperson by the Independent Directors. • Review of Board as a whole by all the Members of the Board. • Review of all Board Committees by all the Members of the Board. • Review of Individual Directors by rest of the Board Members except the Director being evaluated.

Results of all such above referred evaluations were found satisfactory.

AUDITORS a) STATUTORY AUDITORS & AUDIT REPORT

During the previous financial year 2022-23, in terms of the provisions of Section 139 of the Companies

Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, subject to members approval, the Board of director of your company has appointed M/s. KSMC & Associates, Chartered Accountants,

(Firm Registration No: 003565N) as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s Garg Anil & Co. Chartered Accountants (Firm Registration No.

6308N) to hold office till the conclusion of ensuring 37th Annual General Meeting and for a period of 5 consecutive years from the conclusion of the ensuing 37th Annual General Meeting till the conclusion of 42nd Annual General Meeting which ought to be held in the year 2027.

The appointment of M/s. KSMC & Associates, Chartered Accountants, (Firm Registration No: 003565N) as the Statutory Auditors has been approved by way of passing an Ordinary Resolution in the 37^th Annual General Meeting.

Further, there are no qualifications, reservations, or adverse remarks in the Report issued by M/s. KSMC

& Associates, Chartered Accountants, Statutory Auditors, for the year under review. Remarks made in the Report are self- explanatory and do not call for any further comments from your directors. b) SECRETARIAL AUDIT

Pursuant to Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has obtained the Secretarial Audit

Report for the financialyear ended on 31st March, 2024 from M/s. Kumar G & Co., Company Secretaries and the same forms part of the Annual Report. The Secretarial Audit Report does contain some qualifications, reservations or adverse remarks. c) COST AUDIT

Since the Company is engaged in the business of Non-Banking Financial Company, therefore the provisions of Section 148 of the Companies Act, 2013 regarding maintenance of Cost Records and Cost Audit is not applicable to the Company as required to be disclosed under Clause (ix) of sub-rule 5 of Rule 8 of the Companies (Accounts) Rules, 2014. d) INTERNAL CONTROLS SYSTEM AND THEIR ADEQUACY

The Board is responsible for establishing and maintaining adequate internal financial control as per

Section 134 of the Act. Your Companys internal control systems and processes commensurate with scale of operations of the Business.

Periodical reviews are carried out by the Internal Auditors and are subject to assessment and trial to provide reasonable assurance as to reliable information & compliance. The Internal Audit Report submitted by the Internal Auditor, M/s. G Mansi & Associates, for the year under review is apprised by the Audit Committee and noted by the Board.

PARTICULARS OF EMPLOYEES

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 is been annexed to this report as ‘Annexure A.

None of the employees of the Company are being paid remuneration exceeding the prescribed limit under the said provisions and rules.

Further, particulars of employees pursuant to Rule 5(2) & 5(3) of the above Rules form part of this report. However, in terms of provisions of section 136 of the said Act, the Annual Report is being sent to all the members of the Company and others entitled thereto, excluding the said particulars of employees. Any member interested in obtaining such particulars may write to the Company Secretary at E-mail –advikcapital@gmail.com.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review. Further during the year under review, the Company has neither earned nor used any foreign exchange.

MEETINGS

A) BOARD MEETINGS

The Board meets at least once a quarter to review the quarterly results and other items of the agenda.

During the financialyear ended on March 31, 2024, ten (10) Board Meetings were held and the gap between the two consecutive meetings was within the statutory limit. Details of the Board meetings are given in the Corporate Governance Report annexed herewithforthefinancialyear ended March 31,

2024.

B) DISCLOSURE OF VARIOUS COMMITTEES OF BOARD OF DIRECTORS: I. AUDIT COMMITTEE

The Company has constituted a well-qualified and Independent Audit Committee as required under Section 177 of the Companies Act, 2013 as also in fulfillment of the requirements of Regulations 18 of the SEBI (LODR) Regulations, 2015. The primary objective of the Audit Committee is to monitor and provide effective supervision of the managements financial reporting process with a view to ensure accurate, timely and proper disclosure and transparency, integrity and quality of financial reporting. The Audit Committee met Four (4) times during the financial year. The details of meetings with attendance thereof and terms of reference of Audit Committee have been provided in the Corporate Governance Report which forms part of this Report.

II. STAKEHOLDERS RELATIONSHIP COMMITTEE

The composition of the Stakeholders Relationship Committee is in compliance with the provisions of Section 178(5) of the Companies Act, 2013 and Regulation 20 of the SEBI (LODR) Regulations,

2015.

The Stakeholders Relationship Committee met one (1) time during the financial about the composition of the said committee of the Board of Directors along with attendance thereof have been provided in the Corporate Governance Report which forms part of this Report. III. NOMINATION & REMUNERATION COMMITTEE

In terms of section 178 of the Act read with Companies (Meetings of Board and its Powers) Rules,

2014 and regulation 19 of the Listing Regulations, your Company has in place duly constituted

Nomination and Remuneration Committee of the Board of Directors. The details of the composition of the committee along with other details are available in the Corporate Governance Report which forms part of this Report.

NOMINATION AND REMUNERATION POLICY

The Board has in accordance with the provisions of sub-section (3) of Section 178 of the Companies Act, 2013 and as per the Listing regulations, formulated the policy setting out the criteria for determining qualifications, positive attributes, independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel and other employees which is also available on the Companys website at www.advikcapital.com

INVESTOR RELATIONS

Your Company has been continuously interacting and endeavors to further improve its engagement with investors/analysts by participating either in-person meetings or through use of technology i.e., telephone meetings.

CORPORATE SOCIAL RESPONSIBILITY

Provisions of Section 135 of the Companies Act, 2013, read with applicable Rules, is applicable during the year under review, as in the preceding year 2022-23, the Company exceeds the limit ofprofitas per section 135 i.e., Rs. 954.61 Lakhs and as per the provision, 2% of Avg Net profit of the Preceding 3 year is calculated is Rs. 6.91 Lakhs (Actual amount 6,91,284) and the Company has spent *Rs. 12,44,500 by donation to Bharat Lok Sikhsha Parishad, Maharaja Agrasen Technical Education Society and Iskcon Templeduringthefinancialyear 2023-24.

*Due to amount spent is less than Rs. 50 Lakhs, hence the requirement for constitution of the Corporate Social

Responsibility Committee is not applicable as per Rule 9 of Section 135 of Companies act, 2013.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

Your Company did not have any funds lying unpaid or unclaimed for a period of seven years. Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

DISCLOSURE REGARDING INTERNAL COMPLAINTS COMMITTEE

The Company has zero tolerance for sexual harassment at workplace and has formulated a policy on Prevention, Prohibition and Redressal of Sexual Harassment at the workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules there under. The Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. The said policy is also uploaded on the website of the Company at www.advikcapital.com. During the year under review, no compliant was received in this regard.

All the employees of the Company as a part of induction were/are sensitized about the provisions of the said Act. The Company believes in providing safe working place for the Women in the Company and adequate protection are given for them to carry out their duties without fear or favour.

RISK MANAGEMENT

The Board of Directors developed and implemented an appropriate risk management policy which is entrusted with the responsibility to assist the Board in overseeing and approving the Companys enterprise-wide risk management framework and overseeing all the risks that the organization faces, identifying the element of risk which, in the opinion of the Board may threaten the existence of the company and safeguarding the company against those risks. of external, operational and other risks enables the Board of Internalfinancial your company towards identification and mitigation of the risks. The Companys approach to mitigate business risks is through periodic review and reporting mechanism to the Audit Committee and the Board and thereby maximizing returns and minimizing risks.

SIGNIFICANT & MATERIAL ORDERS PASSED BY REGULATORS/COURTS, IF ANY material Therearenosignificant orders passed by the regulators, courts or tribunals having an impact on the future operations of the Company or its going concern status.

RELATED PARTY TRANSACTIONS

All related party transactions during the year under review were on arms length basis, in the ordinary course of business and in compliance with the Policy on Related Party Transactions of the Company. During the year, the Company has not entered into any contracts /arrangements / transactions with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions.

The provisions of Section 188 of the Companies Act, 2013 and/or Regulation 23 of the SEBI (LODR) Regulations,

2015 were duly complied. The Related Party Transactions are placed before the Audit Committee and the Board for their approval on quarterly basis.

The policy on Related Party Transactions as approved by the Board is uploaded on the Companys website www.advikcapital.com. The disclosure on Related Party Transactions is made in the Notes to Financial Statement of the Company.

COMPLIANCE OF SECRETARIAL STANDARDS

During the year under review the Company has complied with all applicable Secretarial Standards issued by Institute of Company Secretaries of India.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(3) (C) read with Section 134(5) of the Act, the Directors, to the best of their knowledge and ability, hereby confirm that:

i. in the preparation of the annual accounts, the applicable accounting standards had been followed with proper explanation relating to material departures; ii. they have selected such accounting policies in consultation with Statutory Auditors 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 March 31, 2024 and of the profit and loss of the company for the Financial Year; iii. theyhavetakenproperandsufficientcare, to the best of their knowledge and ability, 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 frauds and other irregularities; iv. The annual accounts of the Company have been prepared on a going concern basis; v. 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; vi. They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively

DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

During the year under review, there were no application made or proceedings pending in the name of the company under the Insolvency Bankruptcy Code, 2016.

DETAILS OF DIFFRENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS

Company is engaged in the business of non-banking finance company and havent availed any loan from Bank and Financial Institutions; hence, this clause is not applicable.

ACKNOWLEDGEMENT

Your directors acknowledge the efforts of its employees, at all levels, for their continued hardwork, dedication and commitment towards the growth of the Company.

The Directors also places on record continued support of its investors, clients, vendors, bankers and financial institutions during the year under review and look forward for the same in the years to come.

The Company also expresses its sincere gratitude to the Stock Exchanges, Regulatory Authorities and all the government agencies for the continued support extended during the year 2023-24.

For and on behalf of the Board of Directors

Advik Capital Limited

 

Pankaj	Karan Bagga
CFO cum Director	CEO cum Whole-Time Director
(DIN: 10140086)	(DIN: 05357861)

 

Place: Delhi

Dated: August 30, 2024