Anirit Ventures Ltd Partly Paidup Directors Report

To the Members,

Your Directors are pleased to present the 33^rd annual report of Anirit Ventures Limited (formerly known as Flora Textiles Limited) (‘AVL or ‘the Company) along with its audited financial statements for the financial year ended March 31, 2026. The consolidated performance of the Company and its subsidiary has been referred to wherever required.

FINANCIAL RESULTS:

The Companys financial performance, for the year ended March 31, 2026 is summarised below:

(Rs. in Lakhs)

Particulars	Consolidated		Standalone
	2025-26	2024-25	2025-26	2024-25
Revenue from operations	0.09	12.88	-	9.63
Other Income	14.67	0.39	6.62	0.39
Total Revenue	14.76	13.27	6.62	10.01
Profit/(Loss) before exceptional items and tax	(476.30)	(165.86)	(335.97)	(78.69)
Exceptional items	-	-	-	-
Profit/(Loss) before tax	(476.30)	(165.86)	(335.97)	(78.69)
Tax expenses	-	-	-	-
Net Profit/(Loss) after tax	(476.30)	(165.86)	(335.97)	(78.69)

DIVIDEND:

The Board of Directors of your Company, not declared any Dividend for the year under review due to the loss incurred by the Company.

TRANSFER TO RESERVES:

The Board of Directors of your Company has decided not to transfer any amount to the Reserves for the financial year under review.

CHANGE IN THE NATURE OF THE BUSINESS:

During the financial year 2025-26, the Company continued to build upon the strategic transformation undertaken in the previous year following its acquisition by Oilmax Group. Having repositioned itself from its erstwhile textile business, the Company remained focused on evaluating opportunities aligned with its revised business objectives, including sustainability-driven ventures, agricultural and allied activities, green technologies, innovation-led projects and other emerging sectors.

During the year, the Company concentrated on assessing potential business avenues and strengthening the foundation for its future growth initiatives. The management continues to explore opportunities that are aligned with the Companys long-term vision and strategic objectives.

STATE OF AFFAIRS OF THE COMPANY:

During the financial year 2025-26, the Company has issued and allotted 1,20,00,000 partly paid-up equity shares on a rights basis at an issue price of Rs. 33 per share, comprising a face value of Rs. 10 per share and a securities premium of Rs. 23 per share. An amount of Rs. 23 per share (comprising Rs. 5 towards face value and Rs. 18 towards securities premium) was received on application. The balance amount of Rs. 10 per share (comprising Rs. 5 towards face value and Rs. 5 towards securities premium) shall be payable on one or more subsequent calls, as may be determined by the Board of Directors from time to time.

Further, during the year under review, your Company has acquired 100% of the equity share capital of Anirit Agritech Private Limited ("AAPL"), from Oilmax Energy Private Limited. Pursuant to such acquisition, AAPL became a wholly owned subsidiary of the Company. The said acquisition represents a significant development in the Companys corporate structure and is in line with its broader strategic focus on exploring opportunities across agriculture and allied sectors.

During the year, Holding Company, Oilmax Energy Private Limited ("OEPL" or "Promoter") has filed an application before NCLT, Mumbai Bench for Scheme of Merger by absorption of OEPL with Asian Energy Services Limited ("AESL"), subsidiary of OEPL and their respective shareholders under Section 230 & 232 read with Section 66 and other applicable provisions of the Companies Act, 2013. Upon the Scheme becoming effective, subject to the requisite approvals of the NCLT, Mumbai Bench and other regulatory authorities, all the assets, liabilities, rights and obligations of OEPL shall stand vested in AESL. Consequently, AESL shall become the Holding Company and Promoter of the Company in place of OEPL.

CONSOLIDATED FINANCIAL STATEMENTS:

Pursuant to the provisions of section 129(3) of the Companies Act, 2013 (‘the Act) read with the rules framed thereunder, a Statement containing the salient features of the financial Statements of your Companys subsidiaries in form AOC-1 is annexed as Annexure A and forms a part of the financial statement. The statement provides the details of performance and financial position of the subsidiaries. In accordance with section 136 of the Act, the Audited financial statements, including the consolidated financial statement, audited accounts of the subsidiaries and other documents attached thereto.

SUBSIDIARY COMPANIES:

The Company has 1 (one) wholly owned subsidiary as on March 31, 2026.

There has been no material change in the nature of business of the subsidiary.

The consolidated financial statements reflect the operations of the subsidiary i.e. Anirit Agritech Private Limited.

In terms of section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited accounts in respect of the subsidiary, are also kept at the registered office of the Company and are available on the website of the Company.

PARTICULARS OF LOANS AND GUARANTEES GIVEN, SECURITIES PROVIDED, AND INVESTMENTS MADE:

Particulars of loans, guarantees given and investments made during the year, as required under section 186 of the Act and schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR or ‘Listing Regulations), are provided in the the note no. 7 and 9 of the standalone financial statements.

RELATED PARTY TRANSACTIONS:

Your Company has historically adopted the practice of undertaking related party transactions only in the ordinary and normal course of business and at arms length as part of its philosophy of adhering to highest ethical standards, transparency, and accountability. In line with the provisions of the Act and SEBI LODR, the Company has a policy for related party transactions which is also available on the website ofof the Company (www.aniritventures.com).

All the related party transactions are placed for prior approval of the audit committee as well as the shareholders for transactions which are material in nature.

All related party transactions that were entered into during the financial year were on arms length basis and were in the ordinary course of Companys business. Disclosure of Related Party Transactions, which are material in nature, as required under Section 134(3)(h) of the Act in form AOC-2 enclosed to this report as Annexure B.

Related party transactions under Accounting Standard – AS-18 are disclosed in the notes to the financial statements.

DIRECTORS RESPONSIBILITY STATEMENT:

To the best of their knowledge and information and based on the information and explanations provided to them by the Company, your Directors make the following statement in terms of section 134(5) of the Act:

a. that in preparation of the annual accounts for the year ended March 31, 2026, the applicable accounting standards have been followed and there are no material departures from the same;

b. that 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 March 31, 2026 and of the profit of the Company for that period;

c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

d. that the directors have prepared the annual accounts for the financial year ended March 31, 2026 on a going concern basis.

e. They have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f. They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Ms. Neha Thakkar retires by rotation and being eligible offers herself for re-appointment.

There has been no other change in the directors and key managerial personnel during the year under review since the last report. Detailed information on the directors is provided in the_Corporate Governance Report.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from all Independent Directors of the Company confirming that they meet the criteria of independence laid down in Section 149(6) of the Act read with Schedule IV and Rules issued thereunder and Regulation 16(1)(b) and Regulation 25(8) of SEBI LODR. There has been no change in the circumstances, which may affect their status as independent director during the year. Further, they have complied with Rules 6(1) and 6(2) of the Companies (Appointment and Qualification of Directors) Rules, 2014, with respect to registration with the data bank of Independent Directors maintained by the Indian Institute of Corporate Affairs.

In the opinion of the Board, the Independent Directors possess the requisite experience, knowledge and capabilities and expertise in the areas of Finance, Law, information Technology, Human Resources, Risk Management, Business Management and Banking and possesses appropriate skills expertise and competencies required at the Board and are persons of high integrity and repute. They fulfill the conditions specified in the Act as well as the Rules made thereunder and are independent of the management.

BOARD EVALUATION:

The Board of directors have carried out an annual evaluation of its own performance, Board committees, and individual directors pursuant to the provisions of the Act and the corporate governance requirements as prescribed by the SEBI LODR.

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. as provided by the guidance note on Board evaluation issued by the Securities and Exchange Board of India (‘SEBI) on January 5, 2017.

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.

The Board and the nomination and remuneration committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the Board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.

In a separate meeting of independent directors, performance of non-independent directors and the Board as a whole and Chairman of the company was evaluated, taking into account the views of executive directors and non-executive directors. The same was discussed in the Board meeting that followed the meeting of the independent directors, at which the performance of the Board, its committees, and individual directors was also discussed. Performance evaluation of independent directors was done by the entire Board, excluding the independent director being evaluated.

FAMILIARIZATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:

In compliance with the requirements of SEBI LODR, the Company has put in place a familiarization programme for the independent directors to familiarize them with their role, rights and responsibilities as directors, the working of the Company, nature of the industry in which the Company operates, business model etc. The details of the familiarization programme are explained in corporate governance report.

The familiarization programme for the independent directors is placed on the website of the Company www.aniritventures.com.

POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION AND OTHER DETAILS:

The current policy is to have an appropriate mix of executive, non-executive and independent directors to maintain the independence of the Board and separate its functions of governance and management. The details of Board and committee composition, tenure of directors, areas of expertise and other details are available in the corporate governance report that forms part of this Annual Report.

The policy of the Company on directors appointment and remuneration, including the criteria for determining qualifications, positive attributes, independence of a director and other matters, as required under sub-section (3) of Section 178 of the Act, is available on our website at www.aniritventures.com.

MEETINGS OF THE BOARD OF DIRECTORS AND ITS COMMITTEES:

The Board of Directors of the Company met 6 (six) times during the year on May 23, 2025, August 7, 2025, November 13, 2025, December 12, 2025, January 7, 2026 and February 12, 2026 to deliberate on various matters. The details of the meetings of the Board and its committees held during the year are stated in the corporate governance report forming part of this Annual Report.

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

There have been no material changes and commitments which affect the financial position of the Company that have occurred between the end of the financial year to which the financial statements relate and the date of this report.

RISK MANAGEMENT:

The Board of Directors is entrusted with various key functions including framing, implementing and monitoring the risk management plan for the Company; ensuring the integrity of the Company accounting and financial reporting systems, appropriate systems of control commensurate with the size & pursuant to the nature of business of company are in place, in particular, systems for risk management, financial and operational control, and compliance with the laws and relevant standards.

Risk is assessed and mitigated by the Risk Management procedure involving identification and prioritization of risk events; categorization of risks into high, medium and low based on the business impact and likelihood of occurrence of risks, risk mitigation & control and update risk identification and prioritization..

MANAGEMENT DISCUSSION AND ANALYSIS:

In terms of the provisions of Regulation 34 of the SEBI LODR, the management Discussion and analysis has been given separately and forms part of this report.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Companys Internal Financial Controls (‘IFC) is commensurate with the size and operations of the business and is in line with the requirements of the Act. This framework includes well-documented policies, procedures and Standard Operating Procedures (‘SOP), specific to respective processes. Regular management review processes evaluate various policies for the dynamic and evolving business environment. Furthermore, our internal auditors undertake rigorous testing of the control environment of the Company.

CORPORATE SOCIAL RESPONSIBILITY (‘CSR):

As the Company does not fall within the criteria specified under section 135 of the Act therefore the provisions of corporate social responsibility are not applicable to the Company.

POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE:

Your company was not required to constitute Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 as there are less than 10 employees in the company.

COMPLIANCE UNDER THE MATERNITY BENEFIT ACT, 1961:

Your company was not required to comply with the Maternity Benefit Act, 1961 as there are less than 10 employees in the company.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

We have embodied the mechanism in the code of conduct of the Company for employees to report concerns about unethical behaviour, actual or suspected fraud or violation of our code of conduct. This mechanism also provides for adequate safeguards against victimization of employees who avail of the mechanism and also provide for direct access to the chairman of the audit committee in exceptional cases and no personnel have been denied access to the audit committee. The Board and audit committee are informed periodically on the cases reported, if any, and the status of resolution of such cases.

During the FY 2025-26, no instance was reported under the vigil mechanism. Furthermore, in accordance with Clause 6 of Regulation 9A of SEBI (Prohibition of Insider Trading) Regulations, your Company ensures that employees are well-informed about the Whistle Blower Policy to report any instances of leakage of unpublished price-sensitive information.

The Company is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:

There are no significant and material orders have been passed by the regulators or courts or tribunals which would impact the going concern status of the Company and its future operations.

DISCLOSURE REQUIREMENTS:

As per SEBI LODR, corporate governance report with a certificate from Practicing Company Secretary (‘PCS) thereon and management discussion and analysis are attached, which form part of this report.

DEPOSITS:

The Company has neither invited nor accepted or renewed any amount falling within the purview of provisions of Section 73 of the Companies Act 2013 ("the Act") read with the Companies (Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement for furnishing of details relating to deposits covered under Chapter V of the Act or the details of deposits which are not in compliance with the Chapter V of the Act is not applicable. The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public, was outstanding or unpaid as on the date of the balance sheet.

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

During the year under review a majority stake in equity shares of the Company was acquired by Oilmax Energy Private Limited ("Oilmax") On 27th September, 2024. The Company changes its object pursuant to the acquisition and it is yet to commence its operation and hence no Initiative has been taken by the Company pertaining to conservation of energy and technology absorption as required under Section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014.

The details of foreign exchange earnings and outgo are as follows: Foreign Exchange Earnings and outgo-(i) Foreign exchange earnings in terms of actual inflows were Nil.

(ii) Foreign exchange outgo in terms of actual outflows was Nil during the year.

PARTICULARS OF EMPLOYEES AND REMUNERATION:

Disclosure pertaining to remuneration and other details as required under section 197(12) of the Act read with Rule 5 (2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in the Annexure C forming part of the Report.

In terms of the second proviso to section 136 (1) of the Act, the report and accounts are being sent to the shareholders excluding the aforesaid annexure. Any shareholder interested in obtaining the same may write to the Company Secretary at secretarial@aniritventures.com or at the registered office of the Company. None of the employees listed in the said annexure is related to any Director of the Company.

AUDITORS AND AUDITORS REPORT:

(1) Statutory Auditors:

M/s. SGCO & Co. LLP, Chartered Accountants were appointed as the Statutory Auditors of the Company in the Annual General Meeting (AGM) of the Company held in the year 2025 for a period of 5 years and hold office till the conclusion of the 37^th AGM to be held in year 2030.

Pursuant to section 141 of the Act, the statutory auditors have represented that they are not disqualified and continue to be eligible to act as the auditor of the Company.

Auditors Report:

The Statutory Auditors have issued an Audit Report with unmodified opinion on Standalone and Consolidated Financial Statements for the period ended March 31, 2026:

(2) Secretarial Auditors:

Pursuant to the provisions of section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of directors of the Company had appointed Mr. Dipesh U. Gosar of Dipesh Gosar & Co., Practicing Company Secretaries to undertake the secretarial audit of the Company for the year ended March 31, 2026. The secretarial audit Report is annexed as Annexure D.

(3) Cost records and cost audit:

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of section 148 of the Act are not applicable for the business activities carried out by the Company.

(4) Reporting of frauds by auditors:

During the year under review, neither the statutory auditors nor the secretarial auditor has reported to the audit committee, under Section 143(12) of the Act, any instances of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in the Boards report.

SHARE CAPITAL:

As on 31st March, 2026, the paid-up equity share capital of the Company stood at Rs. 12,00,00,000 (Rupees Twelve Crores only).

During the year under review, the paid-up share capital of the Company was increased from Rs. 6,00,00,000 (Rupees Six Crores only) divided into 60,00,000 equity shares of Rs. 10/- each, to Rs. 12,00,00,000 (Rupees Twelve Crores only), divided into 60,00,000 equity shares of Rs. 10/- each (fully paid-up) and 1,20,00,000 equity shares of Rs. 10/- each (partly paid-up of Rs. 5/- each), pursuant to the shares issued and allotted to the shareholders on right basis.

EMPLOYEES STOCK OPTION PLAN:

Your Company has instituted various employees stock options plans from time to time to motivate and reward employees. The Nomination and Remuneration committee administers these plans. The stock option plans are in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, as amended from time to time. (‘Employee Benefits Regulations).

The members by way of postal ballot passed on 6th April, 2025 had approved the Anirit Ventures Limited - Employee Stock Option Plan – 2025 ("AVL ESOP 2025" or "Plan") authorising grant of not exceeding 6,00,000 (Six Lakh) stock options convertible into 6,00,000 (Six Lakh) equal number of equity shares to the eligible employees under the Plan, subject to adjustment on account of corporate action such as rights issues, bonus issues, split, merger and sale of division and others.

Under the AVL ESOP 2025, no options were granted to the eligible employees as on 31st March, 2026. However, the Board of Directors of your Company on the recommendation of Nomination and Remuneration Committee has approved the grant of 5,70,000 stock options to the eligible employees of the Company at its meeting held on 29th June, 2026.

Consequently, the disclosures relating to grant and exercise of stock options reflect a nil position for the financial year ended 31st March, 2026..

COMPLIANCE WITH SECRETARIAL STANDARDS:

The Company has complied with all the applicable provisions of secretarial standards – 1 and secretarial standards – 2 relating to ‘Meetings of the Board of Directors and ‘General Meetings, respectively issued by the Institute of Company Secretaries of India. (‘ICSI)

ANNUAL RETURN:

Pursuant to section 92(3) and section 134(3)(a) of the Act, the Company has placed a copy of the annual return as at March 31, 2026 on its website at www.aniritventures.com.

OTHER DISCLOSURES:

Your directors state that disclosure or reporting is not required in respect of the following items as there were no transactions relating to these items during the year under review:

a) issue of equity shares with differential rights as to dividend, voting or otherwise.

b) The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54(1)(d) of the Act read with Rule 8(13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

c) details relating to deposits covered under chapter V of the Act.

d) voting rights which are not directly exercised by the employees in respect of shares for the subscription / purchase of which loan was given by the Company (as there is no scheme pursuant to which such persons can beneficially hold shares as envisaged under section 67(3)(c) of the Act).

e) the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year.

f) the details of difference between amount of the valuation done at the time of one-time settlement and the valuation done while taking loan from the banks or financial institutions along with the reasons thereof.

g) no amounts were required to be transferred to the Investor Education and Protection Fund by the Company.

ACKNOWLEDGEMENT:

The Board places on record its deep appreciation for the continued support received from various clients, vendors, suppliers and technical partners, bankers, government authorities, employees at all levels and stakeholders, in furthering the interest of the Company.

On behalf of the Board of Directors of Anirit Ventures Limited
(formerly known as Flora Textiles Limited)
Sd/-	Sd/-
Neha Thakkar	Rohit Agarwal
CFO & WTD	Director
DIN:10810103	DIN: 01780752

asa not entered into any arrangement or transaction which is not at the arms length basis. Thus, this disclosure is NOT APPLICABLE.

2. Details of material contracts or arrangement or transactions at arms length basis

Sr. No. Name(s) of the related party and nature of relationship	Nature of contracts/ arrangements/ transactions	Duration of contracts/ arrangements/ transactions	Salient terms of the contracts or arrangements or transactions including the value, if any	Date(s) of approval by the Board, if any	Amount paid as advances, if any
1. Oilmax Energy Private Limited (‘Holding Company)	Acquisition of shares	-	The transaction pertains to the acquisition of 100% equity shares of Anirit Agritech Private Limited from the Holding Company. The Estimated value of the transaction is INR 1287.47 Lakhs.	11th February, 2025	Nil

On behalf of the Board of Directors of Anirit Ventures Limited (formerly known as Flora Textiles Limited)

Sd/-	Sd/-	Sd/-
Neha Thakkar	Rohit Agarwal	Visha Jain
CFO & WTD	Director	Company Secretary
DIN:10810103	DIN: 01780752	M. No. 73776
Place: Mumbai
Date: 29th June, 2026

ANNEXURE C TO THE BOARDS REPORT

Statement of Disclosure of Remuneration

[Details pertaining to remuneration as 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]

I. Ratio of remuneration of each Director to the median remuneration of Employees of the Company and percentage increase in remuneration of each Director for the Financial Year 2025-26:

Sr. No.	Name of Director /KMP	Designation	Ratio of Remuneration of each director to median remuneration of employees	Percentage increase in Remuneration
1	Rohit Agarwal*	Non-Executive Director	-	-
2	Ashutosh Biyani*	Independent Director	-	-
3	Suvir Singh*	Independent Director	-	-
4	Neha Thakkar**	Whole-Time Director	-	-

* Only sitting fees is paid to Non-Executive Director and Independent Directors, hence no ratio is worked out.

** No ratio has been calculated as no remuneration was paid to Ms. Neha Thakkar in the capacity of Whole-Time Director of the Company in the current financial year.

II. The percentage increase in remuneration of Chief Executive Officer (CEO), Chief Financial Officer (CFO), Company Secretary or Manager, if any, in the financial year:

Sr. Name of KMP No	Designation	% increase in Remuneration in 2025-26
1. Sadhan Kumar Banerjee#	Chief Executive Officer	-
2. Neha Thakkar	Whole-Time Director & Chief Financial Officer	23.02%
3. Visha Jain	Company Secretary & Compliance Officer	5.93%

# Remuneration received in FY 2026 is not comparable with remuneration received in FY 2025 which was for part of the year and hence, not stated.

III. Percentage increase in the median remuneration of employees in the FY 2026-26: N.A

IV. The number of permanent employees on the rolls of the Company as on 31^st March, 2026: __6__.

V. Average percentage increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentage increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration: There were no such employees who are not Directors but received remuneration in excess of highest paid Director during FY 2025-26.

VI. Afirmation that the remuneration is as per the remuneration policy of the company: It is hereby afirmed that the remuneration is as per the Nomination and Remuneration Policy of the Company.