Anjani Finance Director Discussions


Dear Members,

ANJANI FINANCE LIMITED

The Agarwal Corporate House,5th Floor, 1, Sanjana Park,

Adj. Agarwal Public School, Bicholi Mardana Road

Indore (M.P.) 452016 •

Your Directors are pleased to present the 34rdAnnual Report and the Companys Audited Financial Statement for the Financial Year ended March 31st, 2023.

Your directors submit the following particulars/disclosures and information as required under section 134(3) and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Accounts) Rules 2014 and other applicable rules thereunder.

1. FINANCIAL RESULTS

The Companys financial performance, for the year ended March 31st, 2023 is Summarized Below:

(Amount in ‘000)

Standalone

Consolidated

PARTICULARS

2022-23 2021-22 2022-23 2021-22

Total earning

14.38.70 14028.48 14.38.70 14028.48

Profit before Depreciation, Interest & other adjustments

26773.08 -5044 26773.08 -5044

Less : Finance Cost

4781.82 5191 4781 82 • 5)91

: Depreciation •

55.366 46 55.3C 5 46

Profit Before Tax

21935.90 -10281 21935.90 -10281

Less :Earlier Year Expenses

:Provision FOR Current Year Tax

2570.09 60 2570.09 60

: Dei erred Tax Provided (Written Back)

2528.30 -2445 2528.30 -2445

Profit for the year

16837.51 -7896 16837.51 -7896

Current Year Share of Associates

53054.16 -994.41

Consolidated Profit & Loss

69891.67 -8890.36

APPROPRIATIONS :

Transfer to NBFC Reserve

(3367.50) 0 (3367.50) 0

Balance carried to Balance Sheet (Retained earnings)

30734.04 17264.03 77042.77 45009.1

EPS (Basic & Diluted) (in Rs. ) on Equity Shares ofRs. 10/-

1.66 -0.78 6.89 -0.88

2. PERFORMANCE OF THE COMPANY

During the year the Company has achieved a turnover of 140.37 Lakhs as against turnover of 140.20

Lakhs in the previous year registering an increase of 0.12%. The overall performance remains

satisfactory.

Profit for the year has increased by 322.169 Lakh which is Rs. 219.359 as cc ipared to Rs.(102.81) in the previous year.

Proportionate share in the profits of associate companies based on the shareholdings, have been included in the consolidated financial statement for the year ended 31 "March, 2023

3. THE CHANGE IN THE NATURE OF BUSINESS, IF ANY:

During the year under review, there was no change in the nature of business of the company and there is no material changes and/or commitments, affecting the financial position of the company, during the financial year 2022- 2023.

4. LISTING OF SHARES OF THE COMPANY

The Equity Shares of the Company continue to remain listed on BSE Limited (Security Code:

531310). The company has paid the due listing fees to BSE Limited for the 4 lancial year 2023-24 on time. .

5. CONSOLIDATED FINANCIAL STATEMENTS:

In accordance with the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014 and 1ND AS 28- Investment in Associates, the Audited Consolidated Financial Statements forms part of this Annual Report

6. DIVIDEND .

In order to preserve the profit and to utilize such amount in the business activities, your . Board of Directors does not recommend any dividend during the year 2022-23 under review. (Previous year:

Nil) .

7 TRANSFER OF AMOUNTS TO INVESTOR EDUCATION & PROTECTION FUNDS (IEPF)

No amount is required to be transferred to the investor education & protection tund during the year.

8. TRANSFER OF AMOUNT TO RESERVES

The Company has transferred Rs. 3367500 to the NBFC Reserves as per requirement of the .

Directions of the RBI to the NBFC Companies (Previous year Nil) except that no amount has been transferred or withdrawn from the reserves by the Company.

9. CREDIT RATING

The company has not required credit rating.

10. NON PERFORMING ASSETS AND PROVISIONS

The company has ascertained NPA under Non-Banking Financial (Non deposit accepting or holding)

Companys Prudential norms (Reserve Bank) Directions, 2007, as amended Pom time to time, and made adequate provisions there against. The company did not recognize •. ir. ;rest income on such NPAs. And also no assets of the company are classified as non-performing under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As such, no provision is required to be maintained.

11. COMPLIANCE OF RBI GUIDELINES:

The company continues to comply with all the requirements prescribed by NBFC Companies from time to time

12. ASSOCIATES/SUBSIDIARIES/JOINT VENTURES COMPANIES

The company has no Subsidiaries and Joint Ventures. The company has an Associate namely Chamelidevi Flour Mills Pvt. Ltd., with 34.99 % Share Holding. The Relevant detail as per Form AOC-1 is enclosed herewith as per Annexure - “A”. .

13 DETAILS IN RESPECT OF FRAUD REPORTED BY AUDITORS UNDER SECTION 143(121 OF THE COMPANIES ACT, 2013 OTHER THAN THOSE . WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT:

During the year under review, Statutory Auditors have not reported, any instances of fraud committed against your Company by its officers and employees to the Board, details of which would need to be mentioned in the Boards Report under section 143(12) of the . Companies Act,

2013.

14. HIE DETAILS ABOUT THE POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON CSR {CORPORATE SOCIAL RESPONSIBILITY! INITIATIVES TAKEN DURING THE YEAR:

Your company does not fall under the threshold limit as required under the provisions of Section 135 of Companies Act, 2013 and rules made there under, hence there was no requirement to • constitute CSR Committee as well formulate any policy thereof.

15. CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES, INDEPENDENCE OF DIRECTOR AND OTHER MATTERS UNDER SECTION 178(3) OF TIIF COMPANIES ACT. 2013:

The Board has, on the recommendation of the nomination and remuneration committee framed a Nomination, Remuneration and Evaluation Policy which lays down the crite a for identifying the persons who are qualified to be appointed as directors and, or senior manage .lent personnel of the company, along with the criteria for determination of remuneration of directors, KMPs and other employees and their evaluation and includes other matters, as prescribed under the provisions of section 178 of Companies Act, 2013 and Regulation 19 of SEBI (LODR) Regulations 2015. Policy of the Company has been given at the website of the Company at anjanifm@rediffmail.com. The details of the same are also covered in Corporate Governance Report forming part of this Annual Report. , i

16. DISCLOSURE U/S 134 (3)

Pursuant to the provisions of sec 134 (3) read with companies (Accounts) rules, 2014. The required informations &disclosures, to the extent applicable to the company are as under: .

• The web addresswhere Annual Return in form no. MGT-7 is annexed is https://anianifin.eom//uploads/images/Form MGT 7 aniani sign J022.pdf

• Policy of company for the appointment of Directors and their remuneration as per Annexure-“B”.

• The particulars of contracts/arrangements entered into by the company with related

parties referred to in sub section (1) of section 188 of the Companies Act 2013 in the Form AOC-2 is enclosed herewith as per Annexure -“C”.

• Statement of Conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable to the company.

• The ratio of the remuneration of each director to the median employees remuneration and .their details in terms of subsection 12 of Section 197 of the Companies Act, 2013 vead with Rule 5(1) of the Companies, (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are forming part of this report and is ann xed as per Annexure -“D”.

There is no employee drawing remuneration of Rs.850000/- per month or Rs.10200000/- per ydar. therefore the particulars of employees as required U/s 197(12) of the Companies Act, 2013 read with Rule 5(2) and Rule 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are not applicable to the Company.

17 STATEMENT indicating development and implementation of a risk

MANAGEMENT POLICY FOR THE COMPANY INCLUDING IDENTIFICATION THEREIN OF ELEMENTS OF RISK:

The Company is primarily engaged in the business of Investment and Lending Activities and is associated with the normal business risk of the market. Any change in the taxation and Ip ustrial police by the Government may adversely affect the profitability of the Company. The Company is havingadequate internal control to monitor the financial transactions and the books of accounts are being audited bv the independent auditor of the Company. "

TOElSuNDERURES—~—EQDESl——-NDARDS^ POLICIES and compliances

a) Know Your Customer and Anti money laundering measure policy

Your company has a board approved Know Your Customer (KYC Policy) and Anti Money Laundering measure policy (AML Policy) in place and adheres to the said policy. The said policy is in line with the RBI Guidelines. Company has also adhered to the compliance lequirement in terms of the said policy including the monitoring and reporting of cash and suspicious transactions. There are however, no cash transactions of tb value of more than 10,00,000/- or any suspicious transactions whether or not made in cash m heed by the company in terms of the said policy. .

b) Fair Practice Code

Your company has in place a Fair Practice Code (FPC), as per RBI Regulations which includes guidelines from, appropriate staff conduct when dealing with the customers and on the oiganizations policies vis-a-vis client protection. Your company and its employees duly complied with the provisions of FPC. "

c) Code of Conduct for Board of Directors and the Senior Management Personnel

Your company has adopted a code of conduct as required under Regulation 17 of ?>EBI (Listing Obligations and Disclosure Requirements) Regulations 2015, for its BOD and the senior management personnel. The code requires the directors and employees r.f the company to act honestly, ethically and with integrity and in a professional and respectfu manner. A certificate of the Management is attached with the Report in the Corporate Governance section.

d) Code of Prohibition of Insider Trading Practices

Your company has in place a code for prevention of insider trading practices in accordance with the model code of conduct, as prescribed under SEBI ( prohibition of insider trading) Regulations, 2015, as amended and has duly complied with the provisions of the said code.

e) Vigil Mechanism Policy

Pursuant to the provisions of section 177(9) and (10) of the Companies Act 2013 read with rule 7 of Companies (Meeting of Boards and its powers) Rules, 2014 and Regulation 22 of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, the company and adopted a whistle blower policy which provides for a vigil mechanism that encourages and supports its directors and employees to report instances of unethict behavior, actual or suspected, fraud or violation of the company code of conduct policy It also provides for adequate safeguards against victimization of persons who use this mechanism and direct access to the chairman of audit committee in exceptional cases. Policy of the whistle blower of the Company has been given at the website of the company at www.anjanifin.com and attached the same as Annexure-E to this report.

f) Prevention, Prohibition and Redressal of Sexual harassment of womf at work place

Your Company has zero tolerance for sexual harassment at workplac ,. The Company has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at workplace in line with the provisions ofthe Sexual Harassment of Women at Workplace (Prevention. Prohibition and Redressal) Act, 2013 (POSH Act) and the rules framed there under. All employees (permanent, contractual, temporary, trainees) are covered under this policy. As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (Act) and Rules made there under, your company has constituted Internal Complaints Committees (ICC). Statement showing the number of complaints filed during the financial year and the number of complaints pending as on the end of the financial year is shown as under:

No compliant, however is received by the company under the said policy in F.Y. 2022-23.

g) Nomination, Remuneration and Evaluation Policy (NRE Policy)

The Board has, on the recommendation of the nomination and remuneration committee framed a nomination, remuneration and evaluation policy which lays down the criteria for identifying the persons who are qualified to be appointed as directors and, or senior management personnel ofthe company, along with the criteria for determination of remuneration of directors. ICMPS and other employees and their evaluation and includes other matters, as prescribed under the provisions of section 178 of Companies Act, 2013 and clause 49 of the Listing Agreement and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Policy of the Company has been given at the website of the Company at www.anjanifm.com and attached the same as Annexure B to this report. The details of the same are also covered in corporate Governance Report forming part of this annual report.

h) Related Party Transactions Policy

There were no materially significant related party transactions held durir the FY 2022-23 that may have potential conflict with the interest of company at large. Transactions entered with related parties as defined under the Companies Act, 2013 and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, during the financial year were mainly in the ordinary course of business and on an arms length basis. The related party transaction policy as formulated by the company defines the materiality of related party and lays down the procedures of dealing with related party transactions. The details of the same are . posted on the Company web-site wvvw.anianifin.com.

i) Policy of company for the appointment of Directors and their remuneration

Policy of company for the appointment-of Directors and their remuneration is hosted on the website (www.availablefinance.in) of the company as per the requirement of the section 178 of the Company Act, 2013

t

19. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Board of Directors of your company consists of 4 directors. Mr. Sanjay Kumar Agarwal (DIN 00023611) continued to hold the office as Managing Director of the company. Mrs. Kalpana Jain (DIN 02665393) is a non-executive non-independent director of company.

Mr. Sarthak Agrawal (DIN 09700883) and Mr. ANKUR AGRAWAL (DIN 07551302)) are the Independent directors of the Company. All independent directors have given declaration that they meet the criteria of independence as laid down under section 149(6) ofthe companies Act, 2013 and clause 49 of the Listing Agreement and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 forms part of this report.

In accordance with the provisions of Section 152 of the companies Act 2013 read with relevant provisions of Articles of Association of the company, Mrs. Kalpana Jain will .tire by rotation at the

ensuing Annual General meeting and being eligible offers himself for re-appointment. The Board recommends her re-appointment. 1

The brief resume of directors proposed to be appointed/ reappointed, natur of their expertise in specific functional areas and names of the companies in which they hold d ectorship along with theii membership/chairmanship of committees of the board as stipulated under Clause 49 of Listing Agieement of stock exchanges and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, or provided in the Corporate Governance section along with the Annual Report.

Based on the confirmations received, none of the directors are disqualified from being appointed, reappointed as directors in terms of section 164 of the Companies Act, 2013. .

Independent Diiector Pursuant to the provision of the Companies Act, 2013, company is having two Independent Director as on 31.03.2023, which are as follows: -

1. Mr. Ankur Agrawal . .

2 Mr. Sarthak Agrawal

CS Nasir Khan, a whole time Company Secretary of the company is designa.ed as key managerial personnel of the company as per the provisions of section 203 of the companies Act, 2013

20 .NUMBER OF MEETINGS OF THE BOARD:

During the FY 2022-23, (Five) 5 Board meetings were convened and held 27.05.2022, 29.07.2022, 23.08.2022, 09.11.2022 and 27.01.2023. The intervening gap between the meetings was within the peiiod presciibed under the Companies Act, 2013 and the SEBI (Listing obligation And Disclosure Requirement) Regulations, 2015. The details Of the Board meetings held during the year along with the attendance of the respective directors there at are set out in the Corporate Governance Report forming part of this annual report.

21. SIGNIFICANT/MATERIAL ORDERS PASSED BY THE REGUL VTOR OR COURT OR TRIBUNALS

There were no significant/material orders passed by any regulator or court or tribunal which would Impact the going concern status of the company and its future operations.

22. INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL SYSTEM

The company has appointed an independent firm of Chartered Accountants for conducting the audit as per the internal audit standards and regulations. The internal auditor reports to the audit committee of the board. The audit function maintains its independence and objectivity while carrying out assignments. It evaluates on a continuous basis, the adequacy and effectiveness of internal control mechanism with interaction of KMP and functional staff. The company has ta: en stringent measures to control the quality of disbursement of loan and its recovery to prevent fraua

23. SECRETERIAL AUDIT AND REPORT

Pursuant to the provisions of section 204 of the Companies Act, 2013 and the companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the BOD of the.company had appointed M/s Alam Khan & Co. Practicing Company Secretary, Indore to undertake the secretarial audit of the company for the FY 2022-23 in the meeting held on 27.05.2022. The secretarial audit report for the F.Y. ended March 31, 2023 is annexed herewith as per Annexure - "F" The said report does not contain any material qualification, reservation or adverse remark except Howevet. the Stock Exchange (BSE) issued a mail to the company regarding fines as per SEBI circular no. SEBI / HO / CFD /.CMD / CIR / P / 2020 / 12 dated January 22, 2020 with respect to penal actions prescribed under Regulation 17(1) for Non-compliance " ith the requirements

pertaining to the composition of the Board including failure to appoint woman director and imposed fine of Rs. 3,12,700/-

Explanation by Board :

In this regards The Listed Entity Anjani • Finance Limited write a clarification mail on 25.011.2022 and submit the requsite documents and clarified that the Listed entity has not made any non- compliances in respect of the said provision and further the jmpany made an application for waiver of aforesaid SOP fine and drop any action under aforesaid circular to the BSE on 14.12.2022 with the requisite fee.

Thereafter no further communication made by the BSE in that respect. Hence, listed entity assumed that the BSE waived such fines and drop the action if any.

24. APPOINTMENT OF THE STATUTORY AUDITORS AND EXPLANATIONS OR COMMENTS ON QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY THE STATUTORY AUDITORS IN THEIR REPORT:.

At the 31stAnnual General Meeting (AGM) held on 30th September, 2020, the members had reappointed M/s Mahendra Badjatya& Co (1CAI Firm Registration Number 001457C) Chartered Accountants as statutory auditors of the company, by way of ordinary resolution u/s 139 of the Companies Act, 2013 to hold office for a term of 5 Years rom the conclusion of this AGM until the conclusion of the 36thAGM of the company.

The Company has obtained a confirmation letter regarding their eligibility and your board proposes for ratification of their appointment for the year 2022-23. .

The Report made by the Statutory Auditors of the Company on the Financial Statepients of the Company for the financial year ended 31 March 2023, read with the Explanatory Notes therein, are self-explanatory and, therefore, do not call for any further explanation or comments from the Board under section 134(3)(f) of the Companies Act, 2013. The Auditors Report does not contain any qualification, reservation, disclaimer or adverse remark

25. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of its knowledge and ability, confirm that: .

a) In the preparation of the annual accounts for the year ended March 31st,2023, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there is no material departures from the same;

b) The directors had 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 March 31st,2023 and of the profit and loss of the company for the year ended on that date; •

c) The directors had taken proper and sufficient care for the mai enance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) The directors had prepared the annual accounts on a “going concern” basis;

e) The directors had laid downinternal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

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

26. CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION AND ANALYSIS

Pursuant to Agreement with BSE, Regulation 34 read with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Companies Act 2013, the corporate governance report, management discussion and analysis and the auditors certificate regarding compliance of conditions of corporate governance is enclosed herewith as per Annexure - G.

27. STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN MADE BY THE BOARD OFITS PERFORMANCE AND THAT O FITS COMMITTEES AND INDIVIDUAL DIRECTORS:

Pursuant to the provisions of the companies Act, 2013 and Clause 49 of the listing agreement and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, an AnnualPerformance evaluation of the Board, the directors individually as well as the evaluation f the working of the board committees including audit committee and other committees of the bo, "d of directors of the company was carried out during the year and is covered under the corporate governance report forming pail of this annual report.

The Board carried out an annual performance evaluation of the Board, Committees, Individual Directors and the Chairperson. The Chairman of the respective Committees shared the report on evaluation with the respective committees members. The performance of each committee was evaluated by the Board, based on report on evaluation receive committees. The report on performance evaluation of the Individuals Directors was reviewed by the Board and feedback was given to Directors.

28. DEPOSITS

The Company is a non-deposit taking category - B, NBFC Company. The company does not, have any public deposits within the meaning of Section 73 of the Companies Act, 2013. Further that the company has not accepted any deposit in contravention of the provisions of the Companies Act, 2013 as well as RBI directions.

29. PARTICULARS OF EMPLOYEES:

The ratio of the remuneration of each director to the median employees remuneration and other details in terms of u/s 197(12) of the Companies Act, 2013 read with Rule 5(1) of the . Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are forming part of this report and is annexed as per Annexure B.

The Company is having only three employees on 31 March, 2023 and the particulars thereof in ‘ terms of remuneration drawn as per rule 5(2) read with rule 5(3) of Companies (Appointment and remuneration of Managerial Personnel) Rules, 2014 as amended, is annexed with the report as Anne\ure-B There are certain employees in the company, who we: in the receipt of

remuneration in the F.Y. 2022-23 which in aggregate is in excess of that c:awn by the wholetime director. Since they do not hold any shares in the company, either by themselves or along with their spouse and dependent children, the disclosure under rule 5 of Companies ( Appointment and remuneration of Managerial Personnel) Rule, 2014 is not required.

Further, there is no employee drawing remuneration of Rs. 8,50,000/- per month or 1,02,00,000/- per vear. therefore, the disclosure of particulars of employees as re gt 197(12) of theCompanies Act.2013 read with Rule 5(2) and Rule 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are not applicable to the Company.

30. COMPLIANCE WITH SECRETARIAL STANDARDS:

Your Company is in compliance with the Secretarial Standards speciftec by the Institute of Company Secretaries of India.

31. PROVISION OF VOTING BY ELECTRONIC MEANS:

Your Company is providing E-voting facility under section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015. The ensuing ACM will be conducted through Video Conferencing/OVAM, and no physical meMng will be held, and your company has made necessary arrangements with CDSL to provide facility for , emote e-voting and e-

voting at

32. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The company has an adequate internal financial control backed by sufficient qualified staff, system software and special softwares. The company has also an internal audit system by the external agency.

33. COMMITTEE OF THE BOARD

The company has duly constituted the following committee as per the provisions of Companies Act, 2013

and SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. "

a) Audit Committee as per section 177 of the Companies Act, 2013 rnd Regulation 18 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.

b) Stakeholder Relationship Committee as per section 178 of the Companies Act, 2013 and Regulation 20 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.

c) Nomination and Remuneration Committee as per section 178 of the Companies Act,

2013 and Regulation 19 of SEBI (Listing Obligations & Disclosure Requirements)

Regulations 2015. •

The details of the composition of the audit committee and other committees and their respective terms of reference are included in the corporate Governance report,forming part ot this annual report. The Audit Committee and other Board Committees meet at regular intervals prescribed in the Companies Act, 2013,• SEBI (Listing Obi Rations & Disclosure Requirements) Regulations, 2015 and any other Act applicable, if any.

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

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

35. DISCLOSURE AS PER TERMS OF PARAGRAPH 9BB OF NON BAI KING FINANCIAL COMPANIES PRUDENTIALNORMS (RESERVE BANK) DIRECTIONS. 1998.

The desired disclosure is enclosed herewith as per attached financial statements. • ,

36. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION. FOREIGN EXHANGE EARNING AND OUTGO

Particulars required u/s 134 (3)(m) of the Companies Act, 2013 read with rule 8(3) of Companies (Account) Rules, on conservation of energy and technology absorption are NIL. There were no foreign exchange earnings arid outgoing.

37. GENERAL DISCLOSURE:

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

a. Your Company is not required to conduct the Cost Audit and is not required to maintain Cost Records as specified under section 148 of the Companies Act, 2013.

b. Your Company has not filed any application or there is no application or proceeding pending against the company under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during le year under review.

c. Your Company has neither announced any Corporate Action (buy back of securities, payment of dividend declared, mergers and de-mergers, split and issue of any securities) nor failed to implement or complete the Corporate Action within prescribed timelines.

d. There were no voting rights exercised by any employee ofthe Company pursuant to . the section 67(3)

read with the Rule 16 of the Companies (Share Capital and Debenture) Rules, 2014.

e. There w as no instance of one-time settlement with any Bank or Financial Institution.

f. There is no requirement to conduct the valuation by the bank and no valua the time of one-time

Settlement during the period under review; •

g. There were no revisions in the Financial Statement and Boards Report.

38. ACKNOWLEDGEMENT

The Board of Directors places its sincere gratitude for the assistance and co-operation received from Banks. Customers and Shareholders. The Directors take the opportunity to express their sincere appreciation for the dedicated services of the Executives and staffs for their contribution to the overall performance of the company. .

By Order of the Board

Registered Office: Anjani Finance Limited

>

CIN - L6591OMP1989PLC032799 The Agarwal Corporate House

- w

5th Floor, 1, Sanjana Park

(Mrs.Kalpana Jain) (Sanjay Kumar Agarwal)

Adjoining Agarwal Public School

Director Managing Director

BicholiMardana Road . Indore-452011,

Madhya Pradesh, India

DIN:02665393 DIN:00023611

DATE: 29/05/2023 PLACE: INDORE

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