Bombay Coated and Special Steels Ltd Directors Report

To

The Membeis,

Your directors have pleasure in presenting 3rd Annual Report together with audited statements of accounts for the year ended 31st March, 2023.

i) Cate gory-wise Share Holding

(ii) Shareholding of Promoters

liii) ChtiiiiH in Promoters vi. upholding ( please specify, if there is no chann.--:

(iv) Shareholding Pattern of lop ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs): - None

(u) Shareholding of Directors and Key Managerial Personnel

V. INDEBTEDNESS

B Remuneration to other directors: NIL

C REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MO / MANAGER / WTO

VII. PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES: None

II. NUMBER OF MEETINGS OF THE BOARD:

During the Year Fnnr Roard Meetings were held Board Meetings were held with In the prescribed time of not exceeding 120 days from date of previous Board Meeting.

While preparing the annual accounts, the applicable accounting standards have been followed. There has been no Material departure in following the accounting standards

The directors have selected such accounting policies and applied them consistently, and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of financial period

The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Ihe Companies Act 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities

The directors have prepared the annual accounts on a going concern basis.

The directors have devised proper systems to ensure compliance with the provisions of all applicable laws and thal such systems were adequate and operating effectively

IV. STATEMENT OF DECLARATION BY INDEPENDENT DIRECTORS:

The Company was nol under obligation to appoint independent directors In view ol this, a slalemenl on declartion given by the Independent directors is not required to be given

The Company was nol under obligation to constitute the Nomination and Remuneration Committee In view of this, information and attributes interms of section 178 (3) of the Companies Act 2013 are not required to be given

The Auditors have not given any qualification or adverse remarks in Iheir report

VII. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 :

There were no loans given or investments made in terms of section 186 of the Companies Act 2013

VIII. RELATED PARTY TRANSACTIONS:

Related Party Transactions are reported in Sub-Note No. 10 of Note No. 29 of Annual Accounts

1 Details of conltaols or arrangements or transactions nol al arms length basis Nona

2 Details of material contracts or arrangement or transactions at arms length basis - None

X. DIVIDENDS:

Your directors do not recommend any dividends this year to strengthen the reserves of the Company.

XI. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY AND THE DATE OF THE REPORT:

There were no material changes and commitments affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report

XII. FOREIGN EXCHANGE EARNINGS, CONSERVATION OF ENERGY, AND ABSORPTION OF TECHNOLOGY:

The Company is not a manufacturing concern, and accordingly, did not have any activity in relation to conservation of energy and abeorption of technology

XIII. A STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY FOR THE COMPANY INCLUDING IDENTIFICATION THEREIN OF ELEMENTS OF RISK, IF ANY, WHICH IN THE OPINION OF THE BOARD MAY IHREATEN THE EXISTENCE OF THE COMPANY :

Risks emanating from uncertainties in the global market place and growing complexity in the value chain are cited by most as the important factors contributing to increased risks. The gist of the regulatory developments across various countries including India is that the Boards have been tasked with the onerous responsibility of ensuring alignment between strategy, risks, rewards and executive compensation Attention is being given to improving existing Risk Management systems and processes, the softer and more fundamental issue of embedding risk into the organizations culture and making it an integral part of the business Driven by regulatory requirements and demands from Boards, the directors re-visit their risk profiles once a quarter. However, risk identification and assessment processes are not geared to provide an early indicator of likely risks or potential loss events that organizations could face in the future Information sources are largely inward focused as compared to being forward looking and external focused Detailed analysis of competitor strategies / benchmarking and scenario planning are widely used as and when required Issues such as sustainability and climate change are part of the risk assessments Fearful of both business failure and tlie penalties of iiun-coinpliauee, Hit) Company is sensitive to swelling of their governance. Risk Management and compliance departments (GRC) This has led to a costly and complex web of often uncomplicated structures, policies, committees and reports creating duplication of effort Risk Managers are spending a disproportionate amount of their lime on controls, compliance and monitoring activities although their real priorities lie elsewhere Risk management roles and responsibilities at the management level are well defined at the Company level While the Company has more or less formalized Risk Management roles and responsibilities, risk governance processes would require considerable attention if the Company has to leverage Risk Management as a driver of enterprise value

XIV. CSR Policy:

The Company was not under obligation to make expenditure on CSR (Corporate Social Responsibility) In view of this, information and attributes in terms of section 135 of the Companies Act 2013 are not required to be given.

XV. IN CASE OF A LISTED COMPANY AND EVERY OTHER SPECIFIED PUBLIC COMPANY HAVING, A STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN MADE BY THE BOARD OF ITS OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

The Company was rial under obligation to make formal annual evaluation by the Board of its own performance and that of its committees and individual directors.

XV. CHANGE IN NATURE OF BUSINESS:

There is no change in nature of Business.

XVI. DIRECTORS OR KEY MANAGERIAL PERSONNEL APPOINTED OR RESIGNED DURING THE YEAR: No change

XVII. NAMES OF COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR:

The Company does not have any Gubsldlarles, Joint Ventures or Associate companies

XVIII. DEPOSITS:

XIX. DEPOSITS NOT IN COMPLIANCE WITH CHAPTER V (SECTION 73) OF THE ACT:

There were no Deposits Violating the provisions of Chapter V(Seclion 73) of the Act

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

There were no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in future

XXI. THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS:

The Company is not a Listed Company In view of this, the Company is not under legal obligation to establish inlernal financial controls with respect to the financial statements In any case, the directors have laid down inlernal financial controls to be followed by Ihe company and lhat such internal financial controls are adequate and were operating effectively

f ft:

LS PRIVATE LIMITED

(Nitin Vijaykumar Gupta) DIRECTOR

Mumbai: September 05, 2023

(Vijaykumar Himmatrai Gupta) DIRECTOR