Bansal Multiflex Ltd Management Discussions

i) Industry Structure and Development

M/s. Bansal Multiflex Limited (hereinafter referred to as Company) was engaged in trading of cloth, different type of semi furnished fabrics, varieties of finished fabrics and different type of chemicals primarily used in making detergent and soaps. The Company was also engaged in services of third-party job workers for processing of Grey cloth which includes dying, bleaching, printing, drying etc.

The Company has been acquired as going concern under CIRP through a Resolution Plan submitted by Mr. Malay Bhow as Resolution Applicant which was approved by Honble National Company Law Tribunal (NCLT), Ahmedabad vide its order dated 31.05.2022 (Ref: IA/736(AHM)2021 in CP(IB) 339 of 2019).

Accordingly in view of above, the Company presently looking for opportunities to restart and build the business of the Company.

ii) Opportunities and Threats

The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade with the entry of several international players like Marks & Spencer, Guess and Next into the Indian market. The organised apparel segment is expected to grow at a Compound Annual Growth Rate (CAGR) of more than 13 per cent over a 10 years period. As per the recent industries norms and pursuant Government strategy the Company is not expecting any major threats in upcoming time.

iii) Segment wise Performance or Product-wise Performance :

As the Company was acquired under CIRP as a going concern through a resolution plan which was approved by COC Committee, NCLT has also given approval of the same vide its Order dated 31-05-2022 and accordingly Company is in process of initiating Re-commencement through Resolution Plan. Therefore, no business activities were carried out during the Financial Year 2024-25.

Accordingly, the Companys revenue for operations for the financial year ended on 31.03.2025 was NIL.

iv) Internal Control system and their adequacy

During the year under review, your Companys internal controls systems are commensurate with the nature and size of its business operations. Adequate internal controls, systems and checks are in place and the management exercises financial controls on the operations through a well - defined processes.

v) Financial performance with respect to operational performance

As the Company was acquired under CIRP as a going concern through a resolution plan which was approved by COC Committee, NCLT has also given approval of the same vide its Order dated 31-05-2022 and accordingly Company is in process of initiating Re-commencement through Resolution Plan. Therefore, this clause is not applicable to the Company.

vi) Details of Significant Changes in the Key Financial Ratios & Return on Net Worth

As the Company was admitted into CIRP Process on 18.12.2020, Mr. Malay Bhow (Resolution Applicant) has acquired Company under CIRP as a going concern through a resolution plan which was approved by COC Committee, NCLT has also given approval of the same vide its Order dated 31-05-2022 and accordingly Company is in process of initiating Recommencement through Resolution Plan. Therefore, this clause is not applicable to the Company.

vii) Recent Trend and Future Outlook:

The sector in which the Company has been operating is developing faster and provides ample growth opportunities.

viii) Risk and Concerns

Our business is subjected to various risks and uncertainties; our results of operations and financial conditions are affected by numerous factors including the following:

• Diversified products and customer base

• Range of products and Distribution Channel

• Quality of Products

• Timely Execution of orders

• Leveraging the experience of our Promoters

• Cordial relations with our Clients and Suppliers

ix) Material developments in Human Resources/Industrial Relations front, including the number of people employed.

During the year under review, no such initiatives and/or developments in Human Resources/Industrial Relations front has been taken by the Company.

x) Cautionary Statement:-

The management believes the above to be true to the best of its knowledge at the time of preparation of this report. However, these statements are subject to certain future events and uncertainties, which could cause actual results to differ materially from those, which may be indicated in such statements.

Annexure IV

Particulars of Employees (pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended)

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rules made there under:

A. Information as per Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

1. The ratio of remuneration of each director to the median remuneration of employees the Company for the financial year 2024-25: Nil

2. The Percentage increase in remuneration of each Director, Chief Financial OffiGhief Executive Officer, Company Secretary or Manager, if any, in the financial yea2024-25: Nil

3. The percentage increase in the median remuneration of employees in the financial year: Nil

4. The number of permanent employees on the roll of the Company: 04

5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration^ il

Information as per Rule 5(2) of the Companies (Appointment and Remuneration of

Managerial Personnel) Rules, 2014:

a) The Company does not have any employees who is drawing remuneration in excess of limit prescribed under section 197(12) of the Companies Act, 2013 read with Rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

b) The Statement containing the names of top ten employees (other than Directors) in terms of remuneration drawn as on March 31, 2025 will be made available on request sent to the Company on multiflexbansal@gmail.com

Affirmation that the remuneration is as per the remuneration policy of the Company:

The Board of Directors of the Company affirmed that remuneration of all the Key Managerial Personnel of the Company is as per the Remuneration Policy of the Company.

Note: As the Company was acquired under CIRP as a going concern through a resolution plan which was approved by COC Committee, NCLT has also given approval of the same vide its Order dated 31-05-2022 and accordingly Company is in process of initiating Re-commencement through Resolution Plan. Therefore, there were no employees during the year.