BIL Vyapar Ltd Directors Report

To,

The Members/ Shareholders,

BIL Vyapar Limited (Formerly Binani Industries Limited)

The Resolution Professional (RP) presents to the Members the 63^rd Annual Report of the Company together with the Audited Standalone and Consolidated

Financial Statements and the Auditors Report for the Financial Year ended 31^st March, 2026.

INITIATION OF CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP)

The National Company Law Tribunal ("NCLT"), Kolkata Bench, vide order dated 13th November 2025 ("the Insolvency Commencement Date ") has initiated corporate insolvency resolution process ("CIRP") based on a petition filed by the Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("the Code"). Mr. Subodh Kumar Agrawal, IP Registration No. IBBI/IPA-001/IP-P00087/2017-18/10183 was appointed as Interim Resolution Professional ("IRP") to manage the affairs of the Company in accordance with the provisions of the Code. Subsequently, Honble National Company Law

Tribunal, Kolkata Bench, pursuant to the hearing held on 13^th January 2026, appointed Ms. Rachana Jhunjhunwala, having Regd. No. IBBI/IPA-001/IP-P00389/2017-18/10707 as RP in place of IRP Mr. Subodh Kumar Agarwal. Pursuant to the commencement of Corporate Insolvency Resolution Process and in line with the provisions of the Code, the powers of the Board of Directors were suspended and the same were to be exercised by RP.

Since the company is under Corporate Insolvency Resolution Process (CIRP), as per Section 17 of the Insolvency & Bankruptcy Code, from the date of appointment of the Resolution Professional. a. the management of the affairs of the company shall vest in the Resolution Professional. b. the powers of the Board of Directors of the company shall stand suspended and be exercised by the Resolution Professional. c. the officers and managers of the company shall report to the Resolution Professional and provide access to such documents and records of the company as may be required by the Resolution Professional d. the financial institutions maintaining accounts of the company shall act on the instructions of the Resolution Professional in relation to such accounts and furnish all information relating to the company available with them to the Resolution Professional.

Approval of the Financial Statements 2025-26 and the Report to the Shareholders:

As the powers of the Board of Directors have been suspended, the financial statements have not been approved by the Board of Directors. However, the same has been approved and signed by RP, and a Director to comply with the provision of the Companies Act, 2013 and also the Insolvency & Bankruptcy Code read with applicable rule and regulations made thereunder.

The RP, in view of having entrusted with the management of the affairs of the Company, is submitting this Report in compliance with the provisions of the Companies Act, 2013, the rules framed thereunder ("Act") and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015 ("Listing Regulations"). This Report was discussed in a meeting held with the key management persons/ Director and thereafter approved by the RP.

1) Financial Summary:

Particulars	Standalone		Consolidated
	2025-26	2024-25	2025-26	2024-25
	(Amount in Lakhs)	(Amount in Lakhs)	(Amount in Lakhs)	(Amount in Lakhs)
Total Income	173.69	2.51	173.69	2.51
Total Expenses	177.03	190.87	177.03	189.28
Profit before tax and exceptional items	(3.34)	(188.36)	(3.34)	(186.77)
Exceptional income	--	869.55	--	(869.55)
Profit after exceptional items before tax	(3.34)	681.19	(3.34)	682.78
Taxes(benefit)	--	--	--	--
Profit after tax	(3.34)	681.19	(3.34)	682.78
Other Comprehensive Income / (Loss)	--	--	--	--
Net Profit	(3.34)	681.19	(3.34)	682.78
Earnings per share (Basic)	(0.0106)	2.17	(0.01)	2.18

2) Dividend:

During the year under review, the Board of Directors has not recommended dividend on the Equity Shares of the Company.

3) Transfer To Reserves:

No amount has transferred to General Reserves during the year under review.

4) Changes in the nature of Business:

During the year under review the Company did not undergo any change in the nature of its business.

5) Companys Performance:

The revenue for Current Year was 173.69 Lakhs, compared to the previous years revenue of 2.51 Lakhs. The Loss attributable to shareholders and non-controlling interests for Current Year is (3.34) Lakhs over the previous years Profit of 681.19 Lakhs.

6) Conservation of Energy, Technology Absorption and Foreign Exchange Earnings /Outgo:

The details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

A) Conservation of Energy:

Your Company is into the business of Logistics Sector and is not involved in any manufacturing activity. The information as applicable and required to be provided under Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014, is given hereunder: i. Steps taken or impact on conservation of energy - The operations of your Company are not energy- intensive. However, adequate measures have been initiated for conservation of energy. ii. Steps taken by the Company for utilizing alternate source of energy - though the operations of the Company are not energy intensive, the Company shall explore alternative source of energy, as and when the necessity arises iii. Capital investment on energy conservation equipment - Nil

B) Technology Absorption: i. Efforts made towards technology absorption - The minimum technology required for the business has been absorbed ii. Benefits derived like product improvement, cost reduction, product development or import substitution - Not Applicable iii. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year) a. the details of technology imported - Not Applicable b. the year of import - Not Applicable c. whether the technology has been fully absorbed - Not Applicable d. if not fully absorbed, areas where absorption has not taken place, and the reasons thereof - Not Applicable e. Expenditure incurred on Research and Development - Not Applicable

C) Foreign Exchange Earnings and Outgo:

Foreign currency transactions are recorded at the exchange rates prevailing on the date of such transactions.

Monetary assets and liabilities as at the Balance Sheet date are translated at the rates of exchange prevailing at the date of the Balance Sheet. Gain and losses arising on account of differences in foreign exchange rates on settlement/ translation of monetary assets and liabilities are recognized in the Profit and Loss Account.

7) Extract of Annual Return:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return is available on the Companys website at www.binaniindustries. com.

8) Management Discussion and Analysis:

In terms of the provisions of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations"), the Managements discussion and analysis is set out as Annexure I forming part of this Annual Report.

9) Subsidiary Company:

Global Composites Holdings Inc is the Subsidiary Company of the BIL Vyapar Limited as on 31^st March, 2026. The said Subsidiary was dissolved by the Secretary of State, Minnesota on May 21, 2026. Further the Company does not have any Holding or associate Company.

10) Related Party Transactions:

During the year 2025-26, the arrangements entered into by the Company with related parties were approved by the Audit Committee pursuant to sub section (IV) (4) of Section 177 of Companies Act, 2013 and by the Board of Directors pursuant to Section 188(1) of Companies Act, 2013.

The related party transactions entered by the Company i.e. borrowing for the day to day expenses with Promoter group company are on arms length basis and repetitive in nature and the details of the same is given in Notes forming part of Financial Statements. There are no related party transactions with Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large and thus, a disclosure in the prescribed Form AOC-2 in terms of Section 134 of the Act is not required.

11) Remuneration Policy:

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and fixing their remuneration.

Remuneration policy of the Company is designed to create a high-performance culture. It enables the Company to attract, retain and motivate employees to achieve results. The business model promotes customer centricity and requires employee mobility to address project needs.

12) Human Resources:

Your Company considers people as one of the most valuable resources. It believes in the theme that success of any organization depends upon the engagement and motivation level of employees. All employees are committed to their work and proactively participate in their area of operations.

The Companys HR philosophy is to motivate and create an efficient work force as manpower is a vital resource contributing towards development and achievement of organisational excellence.

13) Deposits:

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 as on the date of the balance sheet within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014. There were no unpaid or unclaimed deposits as on 31^st March, 2026.

14) Corporate Social Responsibility:

The company is not required to constitute a Corporate Social Responsibility Committee as it does not fall within purview of Section 135 of the Companies Act, 2013 and hence it is not required to formulate policy on corporate social responsibility.

15) Directors:

A. Directors And Key Managerial Personnel till appointment of Interim Resolution Professional/ Resolution Professional

As on 31^st March, 2026, the power of Board is suspended. The following directors is resigned from the directorship of the Company during the year (after the commencement of CIRP) as stated below:

- Archana Manoj Shroff-

- Manoj Thakorlal Shroff-

- Pankti Patel Poojari

- Milin Jagdish Ramani-

- Pradyut Meyur-

- Sanjib Ranjan Maity

The resignation of the above-mentioned Directors had not accepted by the Interim Resolution Professional/ Resolution Professional due to imposition of Moratorium. a. Reappointment Director liable to retire by rotation

Since, the power of the Board of Directors is suspended, none of directors of the Company is liable to retire by Rotation. b. Declaration by Independent Directors:

All the Independent Directors had given their declaration to the Company stating their independence pursuant to Section 149(6) and

Regulation 16(1) (b) of SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015. They had further declared that they are not debarred or disqualified from being appointed or continuing as directors of companies by the SEBI /Ministry of Corporate Affairs or any such statutory authority. In the opinion of Board, all the Independent Directors are persons of integrity and possess relevant expertise and experience including the proficiency. However, the independent directors had resigned from the post of Directorship. c. Board Evaluation:

Since the Company is under CIRP Process, the management of the affairs of the Company is vested with Resolution Professional and the

Directors of the Company are required to continue performing their duties and roles and extend necessary cooperation and support to the RP

16) Familiarization Programme for Independent Directors:

In compliance with the requirements of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has put in place a Familiarization Program for the Independent Directors to familiarize them with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model etc.

All new independent directors inducted into the Board attend an orientation program. The details of the training and familiarization program are provided in the Corporate governance report. Further, at the time of the appointment of an independent director, the Company issues a formal letter of appointment outlining his / her role, function, duties and responsibilities.

17) Meetings of the Board:

The Board of Directors of the Company till appointment of Interim Resolution Professional, met three (3) times during the Financial Year 2025 26, on

19th May, 2025, 08th August, 2025 and 12th November, 2025.

On and after the commencement of CIRP, the powers of the Board of Directors stood suspended and were vested in and exercised by the Resolution

Professional ("RP"), In accordance with Section 17 of the Insolvency and Bankruptcy Code, 2016,

Further, pursuant to Regulation 15(2A) read with Regulations 17 and 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015, the Company was exempt, during the CIRP period, from the applicability of the provisions relating to, inter alia, the composition of the Board of

Directors, the minimum number of Board Meetings, the composition and functioning of various Board Committees, and other governance requirements specified under the said Regulations. Accordingly, the roles and responsibilities of the Board of Directors and its Committees were discharged by the

Resolution Professional during the CIRP period.

However, while the powers of the Board of Directors remained suspended during the CIRP, the Directors continued to hold their respective offices and were required to extend all necessary assistance and cooperation to the Resolution Professional for managing the affairs of the Company, including ensuring compliance with applicable statutory and regulatory requirements. The Directors also continued to remain accountable for the actions taken during their tenure prior to the commencement of the CIRP.

No Board Meeting was convened on and after the commencement of CIRP, as the power of the Board of Directors is suspended.

18) Resolution Professional / Directors Responsibility Statement:

Pursuant to Section 134 (3) (C) of the Companies Act, 2013 and Pursuant to the requirements under Section 134(5) of the Act with respect to Directors

Responsibility Statement, your Directors/RP state that:

(a) In the preparation of Annual Accounts for the year ended on 31st March, 2026, the applicable accounting standards have been followed and there are not material departures from the same.

(b) The Directors/ RP 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 on 31^st March, 2026 and the profit and loss of the Company for that period.

(c) The Directors/RP have taken proper and sufficient care for the maintenance of the 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, (d) The Directors/RP have prepared Accounts on going concern basis.

(e) The Directors/RP have laid down internal financial controls to be followed by the Company and that such financial controls are adequate and are operating effectively.

(f) The Directors/RP have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Note: Since the Company is under CIRP Process, the management of the affairs of the Company is vested with Resolution Professional and the Directors of the Company are required to continue performing their duties and roles and extend necessary cooperation and support to the RP. Accordingly, the above mentioned duties and responsibility of Directors have been performed by directors under the overall supervision/direction of RP of the Company.

19) Nomination And Remuneration Committee:

The Board had constituted Nomination and Remuneration Committee pursuant to the provisions of sub section (1) of Section 178 of Companies Act,

2013. Pursuant to subsection (3) of Section 178 of Companies Act, 2013 the Nomination and Remuneration Committee has formulated the criteria for determining qualifications, positive attributes and independence of a Director and recommended to the Board the policy, relating to the remuneration of directors, key managerial personnel and other employees.

20) Particulars of Loans, Guarantees or Investments:

There were no loans, guarantee or investments made by the Company under section 186 of the Companies Act, 2013 during the year under review and hence the said provisions are not applicable.

21) Material Changes and Commitments affecting the Financial Position of the Company:

During the year under review, the Company was admitted into the Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency and Bankruptcy Code, 2016.

The National Company Law Tribunal ("NCLT"), Kolkata Bench, vide order dated 13th November 2025 ("Insolvency Commencement Order") has initiated corporate insolvency resolution process ("CIRP") based on a petition filed by the Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("the Code"). Mr. Subodh Kumar Agrawal, IP Registration No. IBBI/IPA-001/IP-P00087/2017-18/10183 was appointed as Interim Resolution Professional ("IRP") to manage the affairs of the Company in accordance with the provisions of the Code.

Subsequently, pursuant to the hearing held on 13th January, 2026, the Honble National Company Law Tribunal, Kolkata Bench, in C.P. (IB) No.

46(KB)/2025 read with I.A. (IBC) No. 49(KB)/2026, appointed Ms. Rachana Jhunjhunwala (Registration No. IBBI/IPA-001/IP-P00389/2017-18/10707) as the Resolution Professional (RP) in place of Mr. Subodh Kumar Agrawal. The certified copy of the said Order was received by the Company on 4th February, 2026, Except this, there were no material changes and commitments affecting the financial position of the Company between the financial year of the Company to which the financial statements relate and the date of the report.

22) Auditors:

A. Statutory Auditor:

The Auditor, M/s TLB & Co, Chartered Accountants (Formerly known as V P Thacker & Co.) resigned with effect from 04^th August, 2026. Further the Committee of Creditors have appointed RNM & Associates Chartered Accountants as Statutory Auditor of the Company subject to approval of the Members at the ensuing Annual General Meeting.

RNM & Associates, Chartered Accountant, have conveyed their consent for being appointed as the Statutory Auditors of the Company along with a confirmation that, their appointment, if made by the members, would be within the limits prescribed under the Companies Act, 2013 and shall satisfy the criteria as provided under section 141 of the Companies Act, 2013. As the power of the Board of Directors Suspended, the Resolution Professional in consent with the Committee of Creditors of the Company recommended the appointment of RNM & Associates, Chartered Accountant as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s TLB & Co, Chartered Accountants (Formerly V P Thacker & Co.) for the Financial Year 2026-27.

The report given by the auditors on the financial statements of the company is part of Annual Report. There are Disclaimer of Opinion , some qualifications, reservations or adverse remarks made by the Statutory Auditors of the Company in their report, which is self-explanatory and does not call for further information and explanation by the Board.

B. Secretarial Auditor:

During the year under review, the Members approved the appointment of HD and Associates, Practising Company Secretaries (Firm Registration No. S2018MH634200) as the Secretarial Auditors of the Company,

The Secretarial Audit Report confirms that the Company has complied with the provisions of the Act, Rules, Regulations and Guidelines and that there were no deviations or non-compliances. The Secretarial Audit Report is provided as Annexure-II to this Report. The Secretarial Audit Report does not contain any qualifications, reservations or adverse remarks or disclaimers.

The above proposal and related information forms part of the Notice of the AGM and is placed for your approval.

23) Reporting of Fraud by Auditors:

There have been no instances of fraud reported by the Auditors u/s 143 (12) of the Companies Act, 2013 and rules framed thereunder either to the

Company or to the Central Government.

24) Listing with Stock Exchanges:

Your Company is listed with the BSE Limited, National Stock Exchange of India Limited and Calcutta Stock Exchange Limited and the Company has paid the listing fees to BSE Limited and National Stock Exchange of India Limited and the Calcutta Stock Exchange Limited.

25) Internal Control Systems and their Adequacy:

The Company has adequate system of internal control to safeguard and protect from loss, unauthorized use or disposition of its assets. All the transactions are properly authorized, recorded and reported to the Management. The Company is following all the applicable Accounting Standards for properly maintaining the books of accounts and reporting financial statements.

The internal auditor of the Company checks and verifies the internal control and monitors them in accordance with policy adopted by the Company. Even through this non-production period the Company continues to ensure proper and adequate systems and procedures commensurate with its size and nature of its business.

26) Maternity Benefits:

Your Company is committed to upholding the rights and welfare of its women employees. During the year under review, the Company continued to comply with the provisions of the Maternity Benefit Act, 1961, as amended from time to time.

The Company provides maternity benefits to eligible female employees, including paid maternity leave, nursing breaks, and other necessary facilities, in accordance with the law. The Company also supports a conducive and inclusive workplace environment to ensure the health, safety, and dignity of women employees during and after maternity.

27) Meetings of Committees of the Board:

The Board has constituted necessary Committees pursuant to the provisions of Companies Act, 2013, rules framed thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with Stock Exchanges.

Pursuant to Regulation 15(2B) read with Regulation 17 of LODR Regulation, the Company is exempt from the provisions of Regulation 18, 19, 20, and 21 relating to formation of various Committees including Audit Committee, Nomination and Remuneration committee, and other committee meetings are not applicable to the Company during the CIRP. Further, Section 17 of IBC, 2016 provides that, the powers of the board of directors of the Company shall stand suspended and be vested in and exercised by the RP. However, while the powers of the board of directors stand suspended, the directors are accountable for the actions done during their tenure. Also, as the directors continue to hold their respective positions/ designations in the Company, they are required to extend all assistance and cooperation to the RP, as required for managing the affairs of the Company including holding necessary meetings, filing DIR-3 KYC Form, and other compliance.

Further, as per Regulation 15(2B) of the SEBI (LODR) Regulations, 2015 the provisions specified in Regulations 18, 19, 20, and 21 of the Listing Regulations shall not be applicable during the Corporate Insolvency Resolution Process ("CIRP") of the Company and the roles and responsibilities of the Board of Directors and the Committees, specified in the respective regulations of the Listing Regulations, shall be fulfilled by the RP.

28) COMPOSITION OF COMMITTEE OF BOARD OF DIRECTORS TILL APPOINTMENT OF INTERIM RESOLUTION PROFESSIONAL/ RESOLUTION PROFESSIONAL : Audit Committee i) Mrs. Pankti Yogesh Patel Poojari – Chairperson, Non-Executive-Independent ii) Mr. Manoj Thakorlal Shroff, Member Non-Executive-Non-Independent iii) Mr. Pradyut Meyur, Member – Non-Executive-Independent iv) Mr. Sanjib Ranjan Maity, Member – Non-Executive-Independent All the members of theCommittee have resigned from their position during the year on and after the commencement of CIRP

Nomination & Remuneration Committee i) Mr. Sanjib Ranjan Maity - Chairman – Non-Executive-Independent ii) Mr. Pradyut Meyur, Member – Non-Executive-Independent iii) Mr. Rajesh Kumar Bagri, Member – Non-Executive-Non-Independent

All the members of the Committee have resigned from their position except Mr. Rajesh Kumar Bagri during the year on and after the commencement of CIRP.

Stakeholders Relationship Committee i) Mr. Manoj Thakorlal Shroff, Chairman Non-Executive-Non-Independent ii) Mr. Pradyut Meyur, Member – Non-Executive-Independent iii) Mr. Sanjib Ranjan Maity, Member – Non-Executive-Independent iv) Mr. Rajesh Kumar Bagri, Member – Non-Executive-Non-Independent

All the members of the Committee have resigned from their position except Mr. Rajesh Kumar Bagri during the year on and after the commencement of CIRP.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE i) Mr. Manoj Thakorlal Shroff, Chairman Non-Executive-Non-Independent ii) Mr. Pradyut Meyur, Member – Non-Executive-Independent iii) Mr. Sanjib Ranjan Maity, Member – Non-Executive-Independent v) Mr. Rajesh Kumar Bagri, Member – Non-Executive-Non-Independent

All the members of the Committee have resigned from their position except Mr. Rajesh Kumar Bagri during the year on and after the commencement of CIRP.

29) Particulars of Employees:

The disclosures required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial

Personnel) Rules, 2014 are attached as Annexure – III and form an integral part of this report.

Further, a statement showing the names and other particulars of employees drawing remuneration in excess of the limits as set out in the Rule 5(2) and

5(3) of the aforesaid rules, is maintained and forms part of this report. However, in terms of first proviso to Section 136(1) of the Act, the Annual Report and Accounts are being sent to the members and others entitled thereto, excluding the aforesaid information. The aforesaid information is available for inspection by the members. Any member interested in obtaining a copy thereof, may write to the Company Secretary at www.binaniindustries.com On and after the commencement of CIRP, there is no employees in the Company.

30) Whistle Blower:

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for directors and employees in conformation with Section 177(9) of the Act and Regulation 22 of SEBI Listing Regulations, to report concerns about unethical behaviour. This Policy is available on the Companys website www.binaniindustries.com.

31) Corporate Governance:

The Company has complied with the Corporate Governance requirements under the Companies Act, 2013 and as stipulated under the Listing

Regulations, 2015. A separate section on Corporate Governance under the Listing Regulations, 2015, is annexed in this Annual Report.

32) Share Capital:

During the financial year under review there have been no changes in the authorised, issued, subscribed or paid up share capital of the Company.

33) Business Responsibility Report:

Pursuant to Regulation 34 of the Listing Regulations, 2015, Business Responsibility Report is not applicable to our Company. 34) Compliance with Secretarial Standards:

The Company has been in compliance with the applicable Secretarial Standards during the Financial Year 2025-2026.

35) Disclosure under Sexual Harassment Act:

As required by the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013, the Company has formulated and implemented a policy on prevention of sexual harassment at work place with a mechanism of lodging complaints, Redressal for the benefits of its employees. Your Company is committed to create and provide an environment free from discrimination and harassment including Sexual Harassment for all its employees.

The following is a summary of sexual harassment complaints received and conclusively handled during the year 2025-26:

Number of complaints received and disposed off: Nil

36) Risk Management Policy:

The Board has been vested with specific responsibilities in assessing of risk management policy, process and system. The Board has evaluated the risks which may arise from the external factors such as economic conditions, regulatory framework, competition etc. The Executive management has embedded risk management and critical support functions and the necessary steps are taken to reduce the impact of risks. The Independent Directors expressed their satisfaction that the systems of risk management are defensible.

37) Equity Shares in the Suspense Account:

During the year under review, and in accordance with the requirement of Regulation 34(3) and Part F of Schedule V to the Listing Regulations, there were no shares transferred to suspense account.

38) Acknowledgement:

Your Company wishes to sincerely thank all the customers, commercial banks, financial institution, Creditors etc. for their continuing support and co-operation.

For and on behalf of the Board

BIL Vyapar Limited (Formerly known as Binani Industries Limited)

Sd/-

Rachana Jhunjhunwala

REGD NO - IBBI/IPA-001/IP-P00389/2017-18/10707

Place : Mumbai

Date : August 28, 2026