Balu Forge Industries Ltd Directors Report.

Dear Shareholders,

Your Directors have pleasure in presenting the 31st Annual Report together with the Audited Accounts of the Company for the Financial Year ended 31st March, 2020.

1. FINANCIAL RESULTS:

The Financial Highlights for the year under report are as under:

Description Year ended 31.03.2020 Year ended 31.03.2019
Revenue from Operations 20,35,500 18,25,000
Other Income 77,131 7,200
Total Revenue 21,12,631 18,32,200
Total Expenses 14,13,329 13,12,183
(Loss) / Profit before tax and exceptional items 6,99,302 5,20,017
Exceptional items Nil Nil
Profit before tax 6,99,302 5,20,017
Tax expense / (credit)
Current Tax (1,09,091) (1,00,051)
Deferred Tax (1,84,989) 14,78,665
MAT Credit Nil Nil
Net Profit after tax 4,05,222 18,98,631
Balance Transfer to Reserve 4,05,222 18,98,631

2. REVIEW OF OPERATIONS:

During the financial year ended 31st March, 2020, the Company has recorded total revenue of Rs. 20,35,500 -[Rupees Twenty Lakhs Thirty Five Thousand Five Hundred Only].During the year under review The Company has earned Net Profit of Rs. 4,05,222 [Rupees Four Lakh Five Thousand Two Hundred and Twenty Two] as compared to previous year Net Profit of Rs 18,98,631/- [Rupees Eighteen Lakhs Ninety Eight Thousand Six Hundred and Thirty One Only] in the previous financial year.

3. COVID-19

The outbreak of COVID-19 turned into global pandemic in March 2020 and held the world at its standstill. Consequent lockdown announced across India resulted in temporary suspension of operations and temporary closure of offices facilities of the Company in line with the government/local authorities directions. Your Company as a part of its safety policies ensured that its employees are working from home and necessary facilities as feasible were provided.

4. TRANSFER TO RESERVES:

There are no transfers to any specific reserves during the year

5. EXTRACT OF ANNUAL RETURN:

As required under Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of the Annual Return in form MGT-9 is a part of the Annual Report as Annexure A.

6. DIVIDEND:

During the year under review, owing to the accumulated losses, the Directors do not recommend any dividend.

7. CASH FLOW & CONSOLIDATED FINANCIAL STATEMENTS:

As required under Regulation 34 of the Listing Regulations, a Cash Flow Statement is part of the Annual Report. The Company does not have any subsidiaries as on 31st March, 2020 and hence not required to publish Consolidated Financial Statements.

8. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

_ The Change in the Nature Of Business

The company had a strategic vision of expansion and to achieve the same the Board of Directors of the Company, at its meeting held on Monday, the 3rd August, 2020, has considered the proposal of Business expansion, through succession of Assets/ Business of Balu India. This is the new line of business/ portfolio in which the company wishes to embark upon the same. With an objective to accomplish the Companys vision to grow, the company succeeded the business of Balu India (proprietor Jaspalsingh P Chandock)

_ Obtaining the approval of Members for various items through Postal Ballot :

Pursuant to the provisions of Section 108 and 110 of the Companies Act,2013 read with Rule 22 of the Companies (Management and Administration) Rules,2014 and circulars issued by the Ministry of Corporate Affairs, Government of India (the ‘MCA) vide its General Circular No.14/2020 dated April 08, 2020 and General Circular No.17/2020 dated April 13, 2020 and General Circular No.22/2020 dated June 15, 2020 (the ‘MCA Circulars) and subject to Regulation 44 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, that

the following Ordinary and Special Resolutions as set out in the Notice of Postal Ballot dated 03rd August,2020 are passed by the members by way of Postal Ballot through voting by electronic means("Remote E-voting):-

S. No. Particulars

1 Increase in Authorised Share Capital of the Company

2 Alteration of Memorandum of Association of the Company

3 Alteration of Articles of Association

4 Issue of Equity Shares on Preferential Allotment basis to the Non Promoter for Succession of Business from Jaspalsingh P Chandock (Proprietor - Balu India)

5 Issue of Warrants on Preferential Allotment basis to the Non Promoter (Jaspalsingh P Chandock – Proprietor of Balu India)

6 Increase in the limit of Investment by Foreign Institutional Investors (FIIs), Foreign Portfolio Investors (FPIs) and Non Resident Indians (NRIs) in the Companys Equity Share Capital

7 Issue of Equity Shares on Preferential Allotment basis to the Non Promoters (Public Category)

8 Issue of Warrants on Preferential Allotment basis to the Non Promoters – Public Category for Cash

9 Change of Object Clause of the Memorandum of Association

10 Change of Name

11 Authorization for borrowing money in excess of Limit

12 Creation of charges, Mortgages, Hypothecation on the Immovable and

Movable Properties of the Company

_ Increase in Authorised Share Capital of the Company

After receiving the assent from the shareholders , the company increased its authorized Share Capital from Rs.3,50,00,000/- (Rupees Three Crore Fifty Lakhs only) divided into 35,00,000 (Thirty Five Lakhs)Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 80,00,00,000/- (Rupees Eighty Crores only) divided into 8,00,00,000 (Eight Crore) Equity Shares of Rs.10/- (Rupees Ten only) each.

_ Alteration of Memorandum of Association of the Company

After receiving the assent from the shareholders , the company altered its existing clause V of the Memorandum of Association reflecting the Authorized Capital of the company to Rs.80,00,00,000/- (Rupees Eighty Crores only) divided into 8,00,00,000 (Eight Crore) Equity Shares of Rs.10/- (Rupees Ten only) each .

_ Alteration of Articles of Association

Pursuant to Change in authorized Capital of the Company, the Articles of Association of the Company was also altered by altering Article 8 of the Articles of Association

_ Allotment of Equity Shares and Convertible Warrants on Preferential Basis :

The Board of Directors at their meeting held on Thursday, the 24th September,2020 and Friday,25th September, 2020 have inter alia approved allotment of shares and warrants, the details of which is as under:-

1. Issued and allotted 4,78,40,000 equity shares of Rs. 10/- each for consideration other than cash for succession of business of Balu India (Mr. Jaspalsingh P Chandock - Proprietor) ( Non Promoters) at par.

2. Issued and allotted 2,04,00,000 equity shares of Rs. 10/- each for cash at par to the Non-Promoters (Public Category).

3. Issued and allotted 66,00,000 warrants convertible into 66,00,000 equity shares of Rs.10/- each for cash to Non-Promoter (Mr. Jaspalsingh P Chandock – Proprietor Balu India).

4. Issued and allotted 26,00,000 warrants convertible into 26,00,000 equity shares of Rs.10/- each for cash at par to the Non-Promoters (Public Category).

5. Issued and allotted 25,000 equity shares of Rs. 10/- each for cash at par to the Non-Promoters (Public Category).

_ Change of Object Clause of the Memorandum of Association:

After receiving the assent from the shareholders, Existing clause no.1 to 4 and 4A forming part of III–(A)of the Main Objects be deleted and substituted by insertion of new clause 1 forming part of III–(A)of Main Object of the Memorandum of Association of the Company which is as follows:-

1. To carry on business as manufacturers, exporters, importers, commission agents and repairers of and dealers in, forgings, castings, guns, projectiles, plates, boilers, crankshafts, engines, stoves, screws, nails, sewing machines, machinery, presses, implements, gears, motor cars, tools and engineering products and supplies of all kinds, motor lorries, tractors, agricultural products, omnibuses, coaches, tramcars, locomotives, railway carriages and trucks, and other vehicles; aero planes, seaplanes, airships and other aircrafts ironmongery, hardware, and wireless goods.

_ Change In Name Of Company

Pursuant to the Business Succession Agreement and change in object clause of the company, the Board of Directors of the company decided to change the name of the company as the old name is not in line with the revised objectives of the company. Hence in order to ensure that the name of the company adequately reflects the business being carried on by the Company, it is proposed to appropriately change the name of the company from Amaze Entertech Limited to Balu Forge Industries Limited.

9. SHARE CAPITAL:

The paid up Equity Share Capital as on 31st March, 2020 was Rs. 35,00,000/- divided into 3,50,000 Equity Share of Rs 10/- each.

The Board of Directors of the company on 24th September, 2020 and 25th September,2020 had issued and allotted 6,82,65,000 Equity shares of which 4,78,40,000 Equity Shares of Rs. 10/- each aggregating to Rs. 47,84,00,000/- are issued for consideration other than cash and 2,04,25,000 Equity Shares of Rs.10/- each aggregating to Rs. 20,42,50,000/- are issued for cash at the price of Rs. 10 per share on preferential basis in terms of Chapter V of SEBI (ICDR) Regulations, 2018.

The Board of Directors of the company has also issued and allotted 92,00,000 warrants convertible into 92,00,000 equity shares of Rs. 10/- each to be issued at par to for cash on a preferential basis.

So, as on the date of signing of Directors Report the Paid Up Equity Share Capital was Rs Rs.68,61,50,000 divided into 6,86,15,000 Equity Shares of Rs 10/- Each.

10.TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION & PROTECTION FUND:

There was no transfer during the year to the Investor Education and Protection Fund in terms of Section 125 of the Companies Act, 2013.

11.INTERNAL CONTROL SYSTEM:

The Companys internal controls system has been established on values of integrity and operational excellence and it supports the vision of the Company "To be the most sustainable and competitive Company in our industry". The Companys internal control systems are commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested and certified by Statutory as well as Internal Auditors. Significant audit observations and follow up actions thereon are reported to the Audit Committee.

12.PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013:

The particulars of investment made under Section 186 of the Companies Act, 2013 has been disclosed in the financial statements of the Balance Sheet. The Company has not given any loans or given any guarantees

13.DIRECTOR S RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 134 (5) of the Companies Act, 2013, with respect to Directors Responsibilities Statement, it is hereby confirmed:

a) that in the preparation of the annual accounts for the financial year ended 31st March, 2020 the applicable accounting standards had been followed along with proper explanation relating to material departures.

b) that the Directors has selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year review.

c) that the Directors had taken proper and sufficient care 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 fraud and other irregularities, and,

d) The Directors had prepared the accounts for the financial year ended 31st March, 2020 on a going concern basis.

e) 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.

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

14.SUBSIDIARY, JOINT VENTURES AND ASSOCIATE COMPANIES:

Your Company has neither any Subsidiary nor Joint Venture nor Associate Company. During the year under review, none of the Companies have become or ceased to be Companys Subsidiaries, Joint Ventures or Associate Companies.

15.DEPOSITS:

The Company has neither accepted nor renewed any deposits during the year under review.

16.CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:

Since the Company is not engaged into any manufacturing activity provision of Section 134(3) (m) of the Company Act, 2013, read with Rule 8(3) of the Companies (Accounts) Rules, 2014 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is not applicable.

17.FOREIGN EXCHANGE:

During the year under review, there were no foreign exchanges Earnings or outgo.

18.DIRECTORS & KEY MANAGERIAL PERSONNEL(KMP):

(i) Composition of the Board of Directors and KMP:

The Board of Directors and Key Managerial Personnel is duly constituted, as on the date of this report the composition of the Board and Key Managerial Personnel is as mentioned below:

Sr. No. Name of Director Designation Date of Appointment
1 Mr.Jaspalsingh Chandock Managing Director 19-11-2020
2 Mr.Trimaan Chandock Executive Director 19-11-2020
3 Mr.Jaikaran Chandock Executive Director 19-11-2020
4 Mr. Ashvin Thumar Independent Director 18-10-2012
5 Mr. Deepak Mehta Independent Director 14-02-2017
6 Ms. Sejal Soni Independent Woman Director 14-02-2017
7 Mr. Mitesh Dani CFO 28-05-2018
8 Mr Aakash Joshi Company Secretary 22-06-2020

(ii) Changes in Composition of Board and Key Managerial Personnel:

a) Ms. Leena Kumawat was appointed as Company Secretary of the Company w.e.f. 08-04-2019. b) Ms. Leena Kumawat resigned as Company Secretary of the Company w.e.f.

07-05-2020. c) Mr. Aakash Joshi was appointed as Company Secretary of the Company w.e.f. 22-06-2020. d) Mr.Jaspalsingh Chandock was appointed as Additional Director (Managing Director & Chairman) of the Company w.e.f. 19.11.2020. e) Mr. Trimaan Chandock was appointed as Additional Director (Executive Director) of the Company w.e.f. 19.11.2020 f) Mr. Jaikaran Chandock was appointed as Additional Director (Executive Director) of the Company w.e.f. 19.11.2020 .

19.MEETINGS OF BOARD & COMMITTEES:

Meetings of Board of Directors:

The Board of Directors duly meets 5 (Five) times during the financial year from ended 31st March, 2020 as under: 08th April 2019, 28th May 2019, 13th August 2019, 11th November 2019 and 12th February 2020

The periodicity between two Board Meetings was within the maximum time gap as prescribed in the SEBI (LODR) Regulations, 2015 / Companies Act, 2013.

The Composition of the Board is as under:

Sr. No. Name of Directors Designation/ Category of Directorship
1 Mr.Jaspalsingh Chandock Managing Director
2 Mr.Trimaan Chandock Executive Director
3 Mr.Jaikaran Chandock Executive Director
4 Mr. Ashvin Thumar Independent Director
5 Mr. Deepak Mehta Independent Director
6 Ms. Sejal Soni Independent Woman Director

_ Committee Meetings:

Audit Committee:-

The Audit committee reviews reports of the internal auditor, meets statutory auditors as and when required and discusses their findings, suggestions, observations and other related matters. It also reviews major accounting policies followed by the Company.

The Audit Committee of the Company is constituted/re-constituted in line with the provisions of Regulation 18 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 read with Section 177 of the Companies Act, 2013. The Audit Committee is duly constituted, during the financial year under review the committee meeting was held on 28th May 2019, 13th August 2019, 11th November 2019 and 12th February 2020.

The Statutory Auditor, Internal Auditor and Executive Directors/Chief Financial Officer are invited to the meeting as and when required.

The Composition of the Audit Committee is as under:

Sr. No. Name of the Director Category of Directorship
1 Mr. Ashvin Thumar Chairman and Independent Director
2 Mr. Deepak Mehta Independent Director
3 Ms. Sejal Soni Independent Director

Nomination & Remuneration Committee:-

The Nomination and Remuneration Committee recommends the appointment of Directors and remuneration of such Directors. The level and structure of appointment and remuneration of all Key Managerial personnel and Senior Management Personnel of the Company, as per the Remuneration Policy, is also overseen by this Committee.

The Nomination & Remuneration Committee is duly constituted, during the financial year under review the Committee meeting was held on 08th April 2019 28th May 2019, 13th August 2019, 11th November 2019 and 12th February 2020.

The Composition of the Nomination & Remuneration Committee is as under:

Sr. No. Name of the Director Category of Directorship
1 Ms. Sejal Soni Chairman and Independent Director
2 Mr. Ashvin Thumar Member and Independent Director
3 Mr. Deepak Mehta Member and Independent Director

Stakeholders Relationship Committee:

The scope of the Shareholders/ investors Grievance Committee is to review and address the grievance of the shareholders in respect of share transfers, transmission, non receipt of annual report, non receipt of dividend etc, and other related activities. In addition, the Committee also looks into matters which can facilitate better investors services and relations.

The Stakeholders Relationship Committee is duly constituted, during the financial year under review the Committee meeting was held on 28th May 2019, 13th August 2019, 11th November 2019 and 12th February 2020.

The Composition of the Stakeholders Relationship Committee is as under:

Sr. No. Name of the Director Category of Directorship
1 Ms. Sejal Soni Chairman and Independent Director
2 Mr. Ashvin Thumar Member and Independent Director
3 Mr. Deepak Mehta Member and Independent Director

20.ATTRIBUTES, QUALIFICATIONS & INDEPENDENCE OF DIRECTORS, THEIR APPOINTMENT AND REMUNERATION:

The Nomination & Remuneration Committee of Directors have approved a Policy for Selection, Appointment and Remuneration of Directors which inter-alia requires that composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors, KMP and senior management employees and the Directors appointed shall be of high integrity with relevant expertise and experience so as to have diverse Board and the Policy also lays down the positive attributes/criteria while recommending the candidature for the appointment as Director.

21.INDEPENDENT DIRECTORS:

The Independent Directors hold office for a fixed term of five years and are not liable to retire by rotation. The Independent Directors have submitted their disclosure to the board that they fulfill all the requirements as to qualify for their appointment as an Independent Director under the provisions of the Companies Act, 2013 as well as SEBI (LODR) Regulations, 2015.

22.DECLARATION OF INDEPENDENT DIRECTORS:

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(7) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

23.FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The familiarization program aims to provide Independent Directors with the industry scenario, the socio-economic environment in which the Company operates, the business model, the operational and financial performance of the Company, significant developments so as to enable them to take well informed decisions in a timely manner. The familiarization program also seeks to update the Directors on the roles, responsibilities, rights and duties under the Act and other statutes.

24.RELATED PARTY TRANSACTIONS:

There are no materially significant related party transactions made by the Company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the Company at large. Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure in Form AOC-2 and the same forms part of this report as Annexure B.

25.CORPORATE GOVERNANCE:

Provisions of Para C, D and E of Schedule V of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 are not applicable to your Company. Hence, report on Corporate Governance is not annexed.

26.CORPORATE SOCIAL RESPONSIBILITY:

Corporate Social Responsibility i.e. (CSR) activities as required under Section 135 of the Companies Act, 2013 is not applicable to the Company.

27.SECRETARIAL AUDIT REPORT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and Rule 9 the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Mr. Jaymin Modi Proprietor of M/s Jaymin Modi & Co. Company Secretaries, to carry out Secretarial Audit for the financial year 2019-20. The Secretarial Audit report is annexed as Annexure C to this Report. The report does not contain any qualifications.

28.MANAGEMENT DISCUSSION ANALYSIS REPORT:

The Managements Discussion and Analysis Report for the year under review, as stipulated under regulation 34 (3) and Part B of schedule V of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 is annexed to this Annual Report as Annexure D.

29.STATUTOY AUDITORS:

At the 26th AGM of your Company held on 24th September, 2016, M/s. Koshal & Associates, Chartered Accountants (Membership No. 043746) was appointed as the Auditors to hold office until the conclusion of the Annual General Meeting (AGM) to be held in 2020. Accordingly, the term of M/s. Koshal & Associates would be completed upon the conclusion of this Annual General Meeting.. As per the provisions of the Companies Act, 2013, M/s. Koshal & Associates, is not eligible for re-appointment. The Board places on record its appreciation for the services rendered by M/s. Koshal & Associates during their tenure as the Statutory Auditors of the Company.

The Board of Directors, after considering the recommendations of the Audit Committee, at its meeting held on 30th November 2020 has recommended the appointment of M/s M. B. Agrawal & Co, Chartered Accountants (Registration No 100137W), as the Statutory Auditors of the Company for a period commencing from the conclusion of this AGM until the conclusion of the Sixth consecutive Annual General Meeting thereafter.

The Company has received a certificate from M/s M. B. Agrawal & Co, Chartered Accountants (Registration No 100137W),to the effect that the appointment, if made, would be in accordance with limits specified under the Companies Act, 2013. As required under SEBI Regulations, they have confirmed that they hold valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India.

A resolution proposing their appointment, from the conclusion of this Annual General Meeting till the conclusion of the thirty sixth Annual General Meeting of the Company, at a remuneration to be fixed by the Audit Committee and/or Board of Directors and billed progressively, is submitted at the Annual General Meeting for approval of the members.

The Board recommends the appointment of M/s. M. B. Agrawal & Co, Chartered Accountants (Registration No 100137W) Chartered Accountants as the Statutory Auditors, for approval of the members.

The Report given by M/s. Koshal & Associates, Auditors on the financial statements of the Company is part of the Annual Report. There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their Report.

30.EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS:

The Auditors Report does not contain any qualifications, reservations or adverse remarks. Report of the secretarial auditor is given as an Annexure B which forms part of this report.

31.IMPLEMENTATION OF RISK MANAGEMENT POLICY:

The Company has formulated a policy and process for risk Management. The Company has set up a core group of leadership team, which identifies, assesses the risks and the trends, exposure and potential impact analysis at different level and lays down the procedure for minimization of risks. Risk Management forms an integral part of Management policy and is an ongoing process integrated with the operations.

Company has identified various strategic, operational and financial risks which may impact Company adversely. However management believes that the mitigation plans for identified risks are in place and may not threaten the existence of the Company.

32.WHISTLE BLOWER POLICY AND VIGIL MECHANISM:

Your Company recognizes the value of transparency and accountability in its administrative and management practices. The Company promotes the ethical behavior in all its business activities. The Company has adopted the Whistle blower Policy and Vigil Mechanism in view to provide a mechanism for the Directors and employees of the Company to approach Audit Committee of the Company to report existing/probable violations of laws, rules, regulations or unethical conduct.

33.THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY S OPERATIONS IN FUTURE:

During the year there has been no significant material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and companys operations in future.

34.COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:

Your Directors hereby confirm that the Company has complied with the necessary provisions of the revised Secretarial Standard 1 and Secretarial Standard 2 to the extent applicable to the Company.

35.POLICY ON SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

The Company has zero tolerance towards sexual harassment at the workplace and towards this end, has adopted a policy in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under. The Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 which redresses complaints received on sexual harassment. During the financial year under review, the Company has not received any complaints of sexual harassment from any of the women employees of the Company.

36.ACKNOWLEDGEMENTS:

Your Directors wish to place on record their appreciation for the assistance and co-operation received from the Companys Bankers, Government Agencies, Financial Institutions, Customers, Investors and Business constituents and look forward to maintain the same in future.

By the Order of the Board For Balu Forge Industries Limited (Formerly Known as Amaze Entertech Limited

Sd/- Mr. Jaspalsingh Chandock

Managing Director & Chairman

DIN: 00813218

Registered Office:

156 First Floor, Raghuleela Mega Mall, Poisur Gymkhana Road, Kandivali West, Mumbai 400067

Date: 30th November,2020

Place: Mumbai

EXTRACT OF ANNUAL RETURN

AS ON THE FINANCIAL YEAR ENDED ON MARCH 31, 2020

[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. REGISTRATION AND OTHER DETAILS:

1. CIN L29100MH1989PLC255933
2. Registration Date 17/03/1989
3. Name of the Company Balu Forge Industries Limited
(Formerly Amaze Entertech Limited)
4. Category/Sub-Category of the Company Company Limited By Shares
Non-Government Company
5. Address of the Registered office and contact details 156 First Floor, Raghuleela Mega Mall, Poisur Gymkhana
Road, Kandivali West, Mumbai 400067
6. Whether listed Company Yes
7. Name, Address and Contact details of Registrar and M/s Skyline Financial Services Pvt. Ltd.
A/505 Dattani Plaza A K Road, Safed Pool, Andheri (East) Mumbai - 400072

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10% or more of the total turnover of the company shall be stated:-

Sr. No. Name and Description of main products/ services NIC Code of the Product/ service % to total turnover of the company
1 Job work 998512 100%

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

Sr. No. Name And Address Of The Company CIN/GLN Holding/ Subsidiary /Associate %of shares held Applicable Section

Not Applicable

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity) i. Category-wise Share Holding

A) Category-wise Share Holding Shares Held at beginning of the Year 31/03/2019 Shares Held at the End of the Year 31/03/2020
S.N o. Category of Shareholders Demat Physical Total % of Total Shar es Demat Physical Total % of Total Shares % Chan ge Durin g The Year
A Promoters
1 Indian
a) Individual Huf 0 86050 86050 24.59 86050 0 86050 24.59 0.00
b) Central Govt 0 0 0 0.00 0 0 0 0.00 0.00
State
c) Government 0 0 0 0.00 0 0 0 0.00 0.00
Bodies
d) Corporate 0 0 0 0.00 0 0 0 0.00 0.00
e) Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00
f) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Sub-Total (A)(1) 0 86050 86050 24.59 86050 0 86050 24.59 0.00
2 Foreign
a) NRI Individuals 0 0 0 0.00 0 0 0 0.00 0.00
Other
b) Individuals 0 0 0 0.00 0 0 0 0.00 0.00
Bodies
c) Corporate 0 0 0 0.00 0 0 0 0.00 0.00
d) Banks /FI 0 0 0 0.00 0 0 0 0.00 0.00
e) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Sub-Total (A)(2) 0 0 0 0.00 0 0 0 0.00 0.00
Total
Shareholding of Promoters(A) 0 86050 86050 24.59 86050 0 86050 24.59 0.00
Public
B Shareholding
1 Institutions
a) Mutual Funds 0 0 0 0.00 0 0 0 0.00 0.00
b) Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00
Central
c) Government 0 0 0 0.00 0 0 0 0.00 0.00
State
d) Government 0 0 0 0.00 0 0 0 0.00 0.00
Venture Capital
e) Fund 0 0 0 0.00 0 0 0 0.00 0.00
Insurance
f) Companies 0 0 0 0.00 0 0 0 0.00 0.00
g) FIIs 0 0 0 0.00 0 0 0 0.00 0.00
Foreign Venture
h) Capital Fund 0 0 0 0.00 0 0 0 0.00 0.00
i) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Foreign
j) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Sub-Total (B)(1) 0 0 0 0.00 0 0 0 0.00 0.00
2 Non-Institutions
Bodies
a) Corporate
1) Indian 1227 40 1267 0.36 1202 40 1242 0.35 -0.01
2) Overseas 0 0 0 0.00 0 0 0 0.00 0.00
b) Individuals Individual shares holders having nominal share capital upto Rs.
1) 1,00,000 Individual shares holders having nominal share capital Excess of 32884 148384 181268 51.79 35623 146084 181707 51.92 0.13
2) Rs. 1,00,000 100 77100 77200 22.06 350 77100 77450 22.13 0.07
c) Others
a) HUF 872 0 872 0.25 203 0 203 0.06 -0.19
Non Resident
b) Indian 3343 0 3343 0.96 3343 0 3343 0.96 0.00
c) Foreign National 0 0 0 0.00 0 0 0 0.00 0.00
Clearing
d) Members 0 0 0 0.00 5 0 5 0.00 0.00
e) Trust 0 0 0 0.00 0 0 0 0.00 0.00
Foreing Bodies-
f) DR 0 0 0 0.00 0 0 0 0.00 0.00
NBFC Registered
g) With RBI 0 0 0 0.00 0 0 0 0.00 0.00
Sub-Total (B)(2) 38426 225524 263950 75.41 40726 223224 263950 75.41 0.00
Total Public
Shareholding
(B) 38426 225524 263950 75.41 40726 223224 263950 75.41 0.00
C) Shares Held By Custodian for GDRs & ADRs 0 0 0 0.00 0 0 0 0.00 0.00
D) IEPF 0 0 0 0.00 0 0 0 0.00 0.00
Grand Total 38426 311574 350000 100.0 126776 223224 350000 100.00 0.00

ii. Shareholding Of Promoters

Sl No Shareholde rs Name

Shareholding at the beginning of the year

Shareholding at the end of the year

%change
. No of shares % of total shares of the company % of shares pledged encumber ed to total shares No of shares % of total shares of the company % of shares pledged encumber ed to total shares in share holdin g during the year
1 Shivaputra Bellad 75,900 21.69 Nil 75,900 21.69 Nil Nil
3 Prashanth Bellad 10,150 2.90 Nil 10,150 2.90 Nil Nil
Total 86,050 24.59 Nil 86,050 24.59 Nil Nil

iii. Change in Promoters Shareholding:

Sr. No Name & Type of Transaction

Shareholding at the beginning of the year (As on April 1, 2019)

Transactions during the year

Cumulative Shareholding at the end of the year (April 1, 2019 to March 31, 2020)

No. of Shares held % of total Shares of the Compa ny Date of transaction # No. of Shares No. of Shares held % of total Shares of the Compan y
1 Shivaputra Gurappa Bellad
At the beginning of the year 75,900 21.69 Nil Nil 75,900 21.69
At the end of the year 75,900 21.69 Nil Nil 75,900 21.69
2 Prashanth Shivaputra Bellad
At the beginning of the year 10,150 2.90 Nil Nil 10,150 2.90
At the end of the year 10,150 2.90 Nil Nil 10,150 2.90

V. Shareholding Pattern of top ten Shareholders (other than Directors, Promoters & Holders of GDRs & ADRs):-

Sr. No Name & Type of Transaction

Shareholding at the beginning of the year (As on April 1, 2019)

Transactions during the year

Cumulative Shareholding at the end of the year (April 1, 2019 to March 31, 2020)

No. of Shares held % of total Shares of the Company Date of transaction # No. of Shares

No. of % of total Shares Shares of held the Company

1 Mahesh Komaraiah Egurla
At the beginning of the year 17100 4.89
Sale 02-08-2019 -17000 100 0.03
Purchase 23-08-2019 17000 17100 4.89
Sale 13-09-2019 -17000 100 0.03
Purchase 18-09-2019 17000 17100 4.89
Sale 04-10-2019 -17000 100 0.03
Purchase 29-11-2019 17000 17100 4.89
Sale 06-12-2019 -17000 100 0.03
Purchase 31-12-2019 17000 17100 4.89
Sale 03-01-2020 -17000 100 0.03
Purchase 07-02-2020 17000 17100 4.89
Sale 27-03-2020 -17000 100 0.03
Purchase 31-03-2020 17000 17100 4.89
At the end of the year 17100 4.89 Nil Nil 17100 4.89
2 Deepak Dattatrey Tandle
At the beginning of the year 17000 4.86 Nil Nil 17000 4.86
At the end of the year 17000 4.86 Nil Nil 17000 4.86
3 Hitesh Natwarlal Kawa
At the beginning of the year 6150 1.76 Nil Nil 6150 1.76
At the end of the year 6150 1.76 Nil Nil 6150 1.76
4 Palav Smita Subhash
At the beginning of the year 8850 2.53 Nil Nil 8850 2.53
At the end of the year 8850 2.53 Nil Nil 8850 2.53
5 Palav Subhash Ramachandra
At the beginning of the year 14150 4.04 Nil Nil 14150 4.04
At the end of the year 14150 4.04 Nil Nil 14150 4.04
6 Omkar Ashok Shinde
At the beginning of the year 17,000 4.86
Sale 22-11-2019 -16750 250 0.07
Purchase 29-11-2019 17000 17250 4.93
Sale 06-12-2019 -17000 250 0.07
Purchase 31-12-2019 17000 17250 4.93
Sale 03-01-2020 -17000 250 0.07
Purchase 07-02-2020 17000 17250 4.93
Sale 27-03-2020 -17000 250 0.07
Purchase 31-03-2020 17000 17250 4.93
At the end of the year 17250 4.93 Nil Nil 17250 4.93

VI. Shareholding of Directors & Key Managerial Personnel (KMP):

Sr. No. Name & Type of Transaction

Shareholding at the beginning of the year (As on April 1, 2019)

Cumulative Shareholding at the end of the year (April 1, 2019 to March 31, 2020)

No. of Shares held % of total Shares of the Company No. of Shares held % of total Shares of the Company
Nil

VII. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due for payment

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtness at the beginning of the financial year 00
i) Principal Amount Nil Nil Nil Nil
ii) Interest due but not paid Nil Nil Nil Nil
iii) Interest accrued but not due Nil Nil Nil Nil
Total (i+ii+iii) Nil Nil Nil Nil
Change in Indebtedness during the financial year
Additions Nil Nil Nil Nil
Reduction Nil Nil Nil Nil
Net Change Nil Nil Nil Nil
Indebtedness at the end of the financial year
i) Principal Amount Nil Nil Nil Nil
ii) Interest due but not paid Nil Nil Nil Nil
iii) Interest accrued but not due Nil Nil Nil Nil
Total (i+ii+iii) Nil Nil Nil Nil

VIII. REMUNERATION OF DIRECTORS AND KEYMANAGERIAL PERSONNEL:

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

Particulars of Remuneration Name of Managing Director Name of Director and CFO Total Amount (Rs)
Yatin Mehta Mitesh Dani
Gross salary Nil Nil Nil
(a) Salary as per provisions contained in section 17(1) of the Income Tax. 1961. Nil Nil Nil
(b) Value of perquisites u/s 17(2) of the Income tax Act, 1961 Nil Nil Nil
(c ) Profits in lieu of salary under section 17(3) of the Nil Nil Nil
Income Tax Act, 1961
Stock option Nil Nil Nil
Sweat Equity Nil Nil
Commission as % of profit others (specify) Nil Nil Nil
Others, please specify [Sitting Fees] 40,000/- 30,000/- 70,000/-
Total (A) 40,000/- 30,000/- 70,000/-
Ceiling as per the Act NA NA NA

B.Remuneration to other directors:

Particulars of Remuneration

Name of Directors

Total Amount Rs.
Independent Directors Deepak Mehta Sejal Soni
Fee for attending board committee meetings 40,000/- 40,000/- 80,000/-
Commission Nil Nil Nil
Others, please specify Nil Nil Nil
Total 40,000/- 40,000/- 80,000/-
Overall Ceiling as per the Act NA NA

C. Remuneration to Key Managerial Personnel other than MD/MANAGER/WTD:

Particulars of Remuneration Company Secretary Leena Khumawat*
Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income Tax. 1961. 1,80,000
(b) Value of perquisites u/s 17(2) of the Income tax Act, 1961 Nil
(c ) Profits in lieu of salary under section 17(3) of the Income Tax Act, 1961 Nil
Stock option Nil
Sweat Equity Nil
Commission as % of profit others (specify) Nil
Others, please specify Nil
Total (A) 1,80,000
Ceiling as per the Act NA

* Resigned as Company Secretary in the Board Meeting held on 22/06/2020

IX.PENALTIES/PUNISHMENT/COMPOUNDINGOFOFFENCES:

There were no penalty, punishment, compounding of offences for the Company, directors or any other officers in default in respect of the Companies Act, 1956 & Companies Act, 2013.

By the Order of the Board For Balu Forge Industries Limited (Formerly Known as Amaze Entertech Limited Sd/- Mr. Jaspalsingh Chandock Managing Director & Chairman DIN: 00813218

Registered Office:

156 First Floor, Raghuleela Mega Mall, Poisur Gymkhana Road, Kandivali West, Mumbai 400067

Date: 30th November,2020 Place: Mumbai

FORM NO. AOC -2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.

Form for Disclosure of 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 including certain arms length transaction under third proviso thereto.

1. Details of contracts or arrangements or transactions not at Arm s length basis.

Sl. No. Particulars Details
1. Name (s) of the related party & nature of relationship NIL
2. Nature of contracts/arrangements/transaction NIL
3. Duration of the contracts/arrangements/transaction NIL
4. Salient terms of the contracts or arrangements or transaction including the value, if any NIL
5. Justification for entering into such contracts or arrangements or transactions NIL
6. Date of approval by the Board NIL
7. Amount paid as advances, if any NIL
8. Date on which the special resolution was passed in General NIL
meeting as required under first proviso to section 188.

2. Details of contracts or arrangements or transactions at Arm s length basis.

No material contracts or arrangement or transactions at arms length basis.

By the Order of the Board For Balu Forge Industries Limited (Formerly Known as Amaze Entertech Limited Sd/- Mr. Jaspalsingh Chandock Managing Director & Chairman DIN: 00813218

Registered Office:

156 First Floor, Raghuleela Mega Mall, Poisur Gymkhana Road, Kandivali West, Mumbai 400067

Date: 30th November,2020

Place: Mumbai