Goldcrest Corporation Ltd Directors Report

To the Members,

GOLDCREST CORPORATION LIMITED

Your Directors are pleased to present the 41st Annual Report of Goldcrest Corporation Limited (the Company) along with the audited financial statements for the financial year ended March 31, 2024. The consolidated performance of the Company and its subsidiaries have been referred to wherever required.

1. FINANCIAL RESULTS

The financial performance of your Company for the year ending March 31, 2024 is summarized below:

( Rs in Lakhs )

Particulars	STANDALONE		CONSOLIDATED
	Year ended March 31, 2024	Year ended March 31, 2023	Year ended March 31, 2024	Year ended March 31, 2023
INCOME
Gross Income	2594.98	1254.49	2596.06	1254.49
Total Income	2594.98	1254.49	2596.06	1254.49
EXPENDITURE
Employee benefit expense	233.70	225.91	233.70	225.91
Finance costs	12.83	16.96	12.83	16.96
Depreciation & Amortisation Expense	67.45	60.68	67.45	60.68
Depreciation on right to use of assests	83.99	83.98	83.99	83.98
Other Expenses	464.00	485.57	464.39	486.17
Total Expenses	861.98	873.12	862.36	873.72
Profit Before Tax (PBT)	1732.99	381.37	1733.69	380.76
Less: Provision for Taxation
Current Year Tax	250.00	165.10	250.00	165.10
Deferred Tax	189.94	(86.73)	189.94	(86.73)
Total Tax Expense	439.94	78.36	439.94	78.36
Profit (PAT) After Tax	1293.06	303.01	1293.76	302.40
Other Comprehensive Income
Remeasurement of defined benefit plans	(1.57)	0.75	(1.57)	0.75
Change in fair value in equity shares	0	0	0	0
Income tax effect relating to remeasurement of defined benefit plans	0.40	(0.19)	0.40	(0.19)
Net of other comprehensive income	(1.17)	0.56	(1.17)	0.56
Total comprehensive income for the period	1291.88	303.57	1292.58	302.97
Earning per Equity Shares (EPS)
1. Basic	22.73	5.33	22.74	5.31
2. Diluted	22.73	5.33	22.74	5.31

Note: The above figures are extracted from the audited standalone and consolidated financial statements as per Indian Accounting Standards (Ind AS).

2. PERFORMANCE OF YOUR COMPANY CONSOLIDATED FINANCIAL RESULTS

Your Company recorded consolidated total revenue of 25,96,05,719/- as against 12,54,49,636/- in the previous year. The consolidated Profit before tax stood at 17,33,69,291/- as against 3,80,76,975/- in the previous year. The consolidated Profit after tax stood at 12,93,75,757/- as against 3,02,40,808/- in the previous year.

STANDALONE FINANCIAL RESULTS

On a standalone basis, your Company registered total revenue of 25,94,97,719/- as compared to 12,54,49,636 /- in the previous year. The Profit before tax stood at 17,32,99,455/- as compared to 3,81,37,555/- in the previous year. The Profit after tax stood at 12,93,05,922/- as compared to 3,03,01,388/- in the previous year.

PERFORMANCE OF SUBSIDIARY COMPANY

GOLDCREST HABITATS PRIVATE LIMITED:

In the year under review, the company had made a Profit of 32,555/- for the year as compared to the previous years loss of 23,300/-

3. DELISTING OF EQUITY SHARES OF THE COMPANY

The Company had received Initial Public Announcement dated May 24, 2022 ("IPA") issued by Vivro Financial Services Private Limited, Manager to the Delisting for and on behalf of the Acquirer and PACs viz., Mrs. Nita Tushar Tanna ("Acquirer"), Mrs. Anupa Tanna Shah ("PAC 1"), Ms. Namrata Tushar Tanna ("PAC 2"), Mrs. Hansa Tulsidas Tanna ("PAC 3") and Goldcrest Global Trading Private Limited (formerly known as Goldcrest Securities & Commodities Private Limited), who is forming part of promoter group in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time ("SEBI ICDR") ("PAC 4"), to the Public shareholders to initiate the delisting of equity shares of the Company from BSE Ltd. On July 1, 2022, a Special Resolution to affect the same was also passed by the requisite majority of the shareholders by way of postal ballot. The PACs acquired 10,02,002 equity shares of 10/- each constituting 17.61% of the paid-up equity share capital of the Company, at a price of 200/- per equity share being the price determined during the reverse book-building process under the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 ("Delisting Regulations"), taking the promoters total shareholding to 90.47% of the paid-up equity share capital of the Company.

Pursuant to notice number 20220927-2 of BSE dated September 27, 2022 ("BSE Final Delisting Approval"), the trading in the equity shares of Goldcrest Corporation Limited (Scrip Code: 505576) was discontinued w.e.f. Tuesday, October 4, 2022 and the scrip was delisted from the Exchange records w.e.f. Wednesday, October 12, 2022.

The Exit Window under the Delisting Regulations opened on Wednesday, October 12, 2022 which was closed on Thursday, October 12, 2023. During the Exit Window Period, the residual/remaining shareholders who tendered their equity shares at the Exit Price of Rs. 200/- per equity share has been paid.

Mrs. Nita Tushar Tanna ("Acquirer"), Mrs. Anupa Tanna Shah – ("PAC 1"), Ms. Namrata Tushar Tanna ("PAC 2"), Mrs. Hansa Tulsidas Tanna ("PAC3") and Goldcrest Global Trading Private Limited ("PAC 4") have from August 30, 2023 to October 31, 2023 acquired 26643 equity shares of Rs. 10/- each constituting 0.47% of the paid-up equity share capital under the Exit Offer at a price of Rs. 200/- per equity share of Rs. 10/- each taking the promoters total shareholding to 91.74 % of the paid-up equity share capital of the Company.

4. CHANGE IN NATURE OF BUSINESS

During the period under review, the Company has not changed its line of business in a way that amounts to commencement of any new business or discontinuance, sale or disposal of any of its existing businesses or hiving off any segment or division.

5. TRANSFER TO RESERVE

The Company does not propose to transfer any amount to the General Reserve out of the amount available for appropriations.

6. DIVIDEND

The Board of Directors of the Company, after considering the relevant circumstances has not recommended any dividend for the current financial year with a view to conserve the profits generated.

7. TRANSFER OF UNCLAIMED /UNPAID DIVIDEND AMOUNT TO THE INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to section 124 and 125 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules"), dividend, if not claimed for a period of 7 years from the date of transfer to the Unpaid Dividend Account of the Company, is liable to be transferred to the Investor Education and Protection Fund ("IEPF").

Further, all the shares in respect of which dividend has remained unclaimed for seven consecutive years or more from the date of transfer to unpaid dividend account shall also be transferred to the IEPF Authority. The said requirement does not apply to shares in respect of which there is a specific order of Court, Tribunal or Statutory Authority, restraining any transfer of the shares. In the interest of the shareholders, notices in this regard are also published in the newspapers and the details of unclaimed dividends and shareholders whose shares are liable to be transferred to the IEPF Authority, are uploaded on the Companys website www.goldcrestgroup.com

In light of the aforesaid provisions, the Company has during the year under review, transferred an amount of 1,71,970/- (Rupees One Lakh Seventy One Thousand Nine Hundred and Seventy only) to the Investor Education and Protection Fund (IEPF) of the Central Government being the unpaid and unclaimed dividend amount outstanding for 7 years, of the Company, pertaining to final dividend for the year 2015-16 on August 14, 2023. The Company has uploaded the details of unpaid and unclaimed amounts lying with the Company as on August 14, 2023 on the Ministry of Corporate Affairs website.

Accordingly, equity shares of the Company, in respect of which dividend has not been claimed for 7 consecutive years or more from the date of transfer to unpaid dividend account, have also been transferred to the demat account of the IEPF Authority.

8. SHARE CAPITAL

The paid-up equity share capital of the Company as on March 31, 2024 was 5,68,97,600/-. During the year under review, the Company has not issued any shares. The Company has not issued shares with differential voting rights. It has neither issued employee stock options nor buy-back nor sweat equity shares and does not have any scheme to fund its employees to purchase the shares of the Company.

9. ANNUAL RETURN

In terms of Section 92(3) of the Companies Act, 2013 read with Section 134(3) of the Companies Act 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return as on year ended 31st March 2024 is prepared by the Company and is available on the Companys website at www.goldcrestgroup.com.

10. SCHEME OF AMALGAMATION & CAPITAL REDUCTION

The Company has filed for the scheme of Amalgamation and Capital Reduction with Goldcrest Global Trading Private Limited with NCLT. This Scheme between Goldcrest Corporation Limited and Goldcrest Global Trading Private Limited is being undertaken as part of the restructuring plan to simplify the holding structure through consolidation of the group company and to reduce the paid-up share capital of the Goldcrest Corporation Limited.

11. DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review, the Board is represented by three (3) Executive Directors Mrs. Nita Tushar Tanna, Executive Director & Chairperson and Mrs. Anupa Tanna Shah as Managing Director and Ms. Namrata Tushar Tanna, Whole time Director

Composition of Board of Directors as on March 31, 2024 is as following:

Sr. No. Name	Designation	DIN	Date of Appointment
1 Mrs. Nita Tushar Tanna	Executive Director & Chairperson	00170591	29/05/2018
2 Mrs. Anupa Tanna Shah	Managing Director	01587901	30/07/2014
3 Ms. Namrata Tushar Tanna	Whole time Director	02753244	17/06/2020

12. NUMBER OF BOARD MEETINGS AND COMMITTEE MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

During the year, the Board of Directors of Goldcrest Corporation Limited met 5 (Five) times on May 25, 2023, August 24, 2023, November 06, 2023, February 22, 2024 and March 05, 2024. The gap between two meetings did not exceed one hundred and twenty days.

		No. of Meeting
Name of the Directors	Nature of Directorship	Held	Attended
Mrs. Nita Tushar Tanna	Chairperson & Executive Director	5	5
Mrs. Anupa Tanna Shah#	Managing Director	5	5
Ms. Namrata Tushar Tanna	Whole time Director	5	5

13. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company has 1 (one) wholly owned subsidiary Company as on March 31, 2024 – M/s. Goldcrest Habitats Private Limited. There is no associate company within the meaning of Section 2(6) of the Companies Act, 2013. There has been no material change in the nature of the business of the subsidiary.

Pursuant to the provisions of Section 129(3) of the act, a statement containing salient features of the financial statements of the Companys subsidiary in Form AOC-1 "Annexure A" is attached to the financial statements of the Company.

Pursuant to the provision of Section 136 of the act, the standalone financial statements of the Company, consolidated financial statements along with relevant documents and separate audited accounts in respect of subsidiaries are available on the website of the Company at www.goldcrestgroup.com

14. DIRECTORS RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statement in terms of Section 134(3)(c) and 134 (5) of the Companies Act, 2013;

i. In the preparation of the Annual Accounts of the Company, the applicable accounting standards have been followed and there are no material departures;

ii. 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 the financial year ended on March 31, 2024 and the profit for the year ended as on that date;

iii. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and preventing and detecting fraud and other irregularities; iv. The Directors have prepared the annual accounts on a going concern basis;

v. The Directors have laid down internal financial controls to be followed by the Company and have ensured that such internal financial controls are adequate and are operating effectively;

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

vii. Company being unlisted sub-clause (e) of section 134(5) is not applicable.

15. PUBLIC DEPOSIT

During the year under review, your Company has not accepted any deposits within the meaning of provisions of Chapter V – Acceptance of Deposits by Companies of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules 2014, as amended from time to time.

16. AUDITORS AND AUDITORS REPORT

M/s Ramesh M. Sheth, Chartered Accountants, having Registration no. 111883W were appointed as the Statutory Auditors of the Company for a period of 5 (five) years at the 39th Annual General Meeting of the Company to hold office till the conclusion of the 44th - Annual General Meeting.

The notes to the financial statements referred to in the auditors report are self-explanatory and do not call for any further comments under section 134 of the Companies Act, 2013.

The statutory auditors report does not contain any qualifications, reservations, or adverse remarks or disclaimer and is attached to the annual report.

17. REPORTING OF FRAUDS BY AUDITORS

During the year under review, the statutory auditors M/s. Ramesh M. Sheth have not reported any instances of frauds committed in the Company by its officers or employees under section 143(12) of the Companies Act, 2013.

18. SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 (1) of the Companies Act, 2013 and rule no. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the secretarial audit of the Company for the financial Year 2023-2024 is not applicable to the Company.

19. MAINTENANCE OF COST RECORD

Pursuant to Section 148 of the Companies Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014 maintenance of Cost Record is not applicable to the Company.

20. PARTICULARS OF EMPLOYEES

During the period under review, the Company had employed 8 employees.

REMUNERATION OF EXECUTIVE DIRECTORS

All decisions relating to the remuneration of the Directors were taken by the Board of Directors of the Company pursuant to section 196, 197 and all other applicable provisions, if any, of the Companies Act, 2013, ("the Act") read with schedule V to the said Act and Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for time being in force) of Companies Act, 2013 in accordance with shareholders approval wherever necessary.

DETAILS OF REMUNERATION PAID TO THE EXECUTIVE & NON-EXECUTIVE DIRECTORS FOR THE YEAR ENDED MARCH 31, 2024.

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

Sr. No Particulars of Remuneration	Mrs. Anupa Tanna Shah, Managing Director	Mrs. Nita Tushar Tanna, Executive Director & Chairperson	Ms. Namrata Tushar Tanna, Whole time Director
1 Gross Salary
Remuneration & Perquisites	1,45,40,480/-	86,53,792/-	8,65,806/-
Mediclaim & Medical Expenses	8,75,864/-	56,878/-	3,75,548/-
Total	1,54,16,344/-	87,10,670/-	12,41,354/-
2 No. of years	5 years	5 years	5 years
3 Period of Agreement	April 1, 2020 to March 31, 2025	May 29, 2023 to May 28, 2028	November 1, 2023 to October 31,2028
4 Notice Period	90 days	90 days	90 days

PARTICULARS OF EMPLOYEES PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT, 2013 READ WITH RULES 5(2) & 5(3) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014 FOR THE YEAR ENDED MARCH 31, 2024

Name	Mrs. Anupa Tanna Shah	Mrs. Nita Tushar Tanna	Ms. Namrata Tushar Tanna
Designation	Managing Director	Executive Director & Chairperson	Whole time Director
Remuneration paid during the year	1,54,16,344/-	87,10,670/-	12,41,354/-
Nature of employment	Permanent	Permanent	Permanent
Age	45 years	67 years	42 years
Date of commencement of employment in the Company	July 30, 2014	May 29, 2018	June 17,2020
Qualification	BSC, Chartered Accountant	Bachelor of Commerce	MA International Journalism
Expertise in functional areas	Finance, Accountancy, Strategy, Expertise in Real Estate sector and Planning & Investment Management	Expertise in Real Estate sector, Accountancy & Investment Management	Development Communications, Non-Profit Content, Branding, Marketing and CSR strategy for both non-profits and corporates
Inter-se relationship	Daughter of Mrs. Nita Tushar	Mother of Mrs. Anupa Tanna	Daughter of Mrs. Nita Tushar
	Tanna and	Shah and Ms. Namrata	Tanna and sibling of Mrs.
	Sibling of Ms. Namrata	Tushar Tanna	Anupa Tanna Shah
	Tushar Tanna
No. of Shares held in the Company	12,38,718	19,43,593	9,26,598
Experience	18 years	35 years	12 years
Previous employment	Deloitte LLP & Goldcrest Group Companies	Goldcrest Group Companies	Concern India, Times Group.

SHAREHOLDINGS OF DIRECTORS

NAME	NUMBER OF SHARES
Mrs. Nita Tushar Tanna	19,43,593
Mrs. Anupa Tanna Shah	12,38,718
Ms. Namrata Tushar Tanna	9,26,598

21. UNCLAIMED DIVIDEND DETAILS & DATA FOR THE LAST 7 YEARS

The following tables give information relating to various outstanding dividends and the dates by which they can be claimed by the shareholders from the Companys Registrar and Transfer Agent:

Year	Type of Dividend	Date of Declaration of Dividend	Date by which Unclaimed Dividend can be claimed	Proposed transfer of unclaimed Equity Dividend to IE & PF between
2016-17	Final	29/09/2017	28/10/2024	29/10/2024 to 27/11/2024
2017-18	Final	21/09/2018	20/10/2025	21/10/2025 to 19/11/2025
2018-19	Final	24/09/2019	23/10/2026	24/10/2026 to 22/11/2026
2019-20	Final	29/09/2020	28/10/2027	29/10/2027 to 27/11/2027
2020-21	Final	28/09/2021	27/10/2028	28/10/2028 to 26/11/2028

The number of complaints received and resolved to the satisfaction of investors during the year under review and their break-up are as under:

Nature of Complaints / queries	No. of Complaints / queries received	No. of complaints not solved to the satisfaction of shareholders
Transfer of shares	0	-
Non-receipt of annual report	0	-
Non-receipt of dividend warrants	0	-
Revalidation of dividend warrants	0	-
Pending share transfers	0	-
DP and Others	0	-

As on March 31, 2024, there were no pending complaints.

22. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTFLOW

The information required under Section 134 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 with regard to Conservation of Energy & Technology absorption is not required to be given, as the same is not applicable to the Company and forms a part of this report as "Annexure B"

23. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY THAT OCCURRED DURING THE FINANCIAL YEAR TO WHICH THESE FINANCIAL STATEMENTS RELATE AS ON THE DATE OF THIS REPORT

No material changes and commitments affecting the financial position of the Company occurred during the financial year i.e. 31 March 2024 to which these financial statements relate as on the date of this report i.e. August 24, 2024 except for the disclosures disclosed in this report.

24. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS OF THE COMPANY

There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status and/or the Companys future operations.

25. CORPORATE SOCIAL RESPONSIBILITY.

As per section 135 of the Companies Act, 2013 and rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 and schedule VII of the Companies Act, 2013, all Companies having a net worth of 500 crore or more, or a turnover of 1,000 crore or more or a net profit of 5 crore or more during any financial year are required to spend at least 2% of their average net profits of the three immediately preceding financial years on CSR related activities.

Accordingly, the Company was required to spend 17,05,210/- towards CSR activities, there was excess of Rs. 20,88,776/- from Previous Years, Which was Pending to be set-off for this financial year. The total amount to be spent during the year 2023-24 is Rs. 17,05,210/-.

However, the company has spent an amount of Rs. 5,00,000/-to Anand Niketan Trust for the year 2023-24. The pending amount is set off with the excess accumulated during the last 3 financial years.

The Annual Report on CSR activities containing details of expenditure incurred by the Company and brief details on the CSR activities is given in "Annexure C".

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

There were loans and investments, but no guarantees made during the year under review under section 186 of the Companies Act, 2013.

27. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The related party transactions were entered into on an arms length basis and in the ordinary course of business and are in compliance with the applicable provisions of section 188 of the Companies Act, 2013 during the year under review. The Company presents all related party transactions before the Board specifying the nature, value, terms and conditions of the transaction. Transactions with related parties are conducted in a transparent manner with the interest of the Company and stakeholders as utmost priority.

Accordingly, the disclosure of related party transactions as required under Section 134(3) (h) of the Companies Act, 2013 in Form AOC - 2 is not applicable for the financial year ended on March 31, 2024 and hence, the same does not form part of this report.

28. RISK MANAGEMENT

Your Company manages, monitors and reports on the principal risks and uncertainties that can impact its ability to achieve its strategic objectives. The Companys management regularly reviews systems, organizational structures, processes, standards, codes of conduct and behaviours that govern how the Company conducts its business and manages associated risks.

29. PREVENTION OF SEXUAL HARASSMENT IN THE WORKPLACE

The Company has in place a prevention of sexual harassment policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013.

Further, the Company was committed to providing a safe and conducive work environment to its employees during the year under review. Your directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

Summary of sexual harassment complaints received and disposed of during the financial year: -No. of complaints received: 0 No. of complaints disposed of: 0 No. of complaints pending: 0 No. of complaints unsolved: 0

30. INTERNAL FINANCIAL CONTROLS

The Directors had laid down internal financial controls to be followed by the Company for ensuring the orderly and efficient conduct of its business, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information.

We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively and are operating as intended.

31. SECRETARIAL STANDARDS

The Company is in compliance with the applicable provisions of the Secretarial Standards, that is, SS-1 and SS-2 issued by the Institute of the Company Secretaries of India.

32. DETAILS PERTAINING TO THE INSOLVENCY AND BANKRUPTCY CODE, 2016

The Company has not made any application and no proceedings are pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year under review.

33. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF.

There was no one-time settlement required to be done during the year under review and hence, no valuation was required to be done.

34. DECLARATION BY INDEPENDENT DIRECTORS

The Company is not required to appoint Independent Directors. Hence the same clause is not applicable.

35. HUMAN RESOURCES

Your Company recognizes that its employees are the backbone of the business, and it values their commitment, competence and hardwork. Your Company emphasises the importance of providing its workforce with opportunities to grow & develop. Your Company continuously invests in attraction, retention and development of talent on an ongoing basis.

36. CAUTIONARY STATEMENT

Statements made in this report, describing the Companys objectives, projections, estimates, expectations or predictions may be forward-looking statements within the meaning of applicable laws and regulations. Forward-looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized by the Company. Actual results could differ materially from those expressed in the statement or implied due to the influence of external and internal factors that are beyond the control of the Company. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements on the basis of any subsequent developments, information or events.

37. APPRECIATION

Your Directors acknowledge with gratitude the co-operation and assistance extended by the bankers, distributors, vendors, investors, customers, investors, National Securities Depository Ltd., Central Depository Services (India) Ltd., and R & T Agent during the year under review and are confident that your Company will continue to receive such support in the years ahead. The Directors also wish to thank all the employees for their contribution, high degree of commitment, support and continued co-operation throughout the year.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

For GOLDCREST CORPORATION LIMITED

Sd/-

NITA TUSHAR TANNA

EXECUTIVE DIRECTOR & CHAIRPERSON

DIN: 00170591

Place: Mumbai

Date: August 24, 2024