JBF Industries Ltd Directors Report

Your Resolution Professional (RP) has pleasure to present the 44th Annual Report and the Companys Audited Financial Statement for the year ended 31st March, 2026.

The Companys financial performance for the year ended on 31st March, 2026 is summarized below:

FINANCIAL RESULTS

particulars	Year ended on 31st March, 2026	Year ended on 31st March, 2025
Revenue from Operations	--	--
Other Income	0.15	0.08
Profit/(Loss)from the year before Finance cost, Depreciation and exceptional items	(4.27)	(2.66)
Less : Finance Cost	0.00	0.00
Less : Depreciation and Amortisation Expenses	--	--
Less : Exceptional Item	1.13	2.60
Profit / (Loss) Before Tax	(5.40)	(5.27)
Current Tax	-	--
MAT Credit Entitlement	-	--
Short/(Excess) Provision of Tax of Earlier Years (Net)	0.01	--
Deferred Tax	-	--
Profit / (Loss) for the year	(5.41)	(5.27)
Other Comprehensive Income	0.00	0.00
Total Comprehensive Income for the year	(5.41)	(5.27)

CORPORATE INSOLVENCY RESOLUTION PROCESS

Vide an order dated 25th January, 2024, passed by the Honble NCLT, Ahmedabad Bench, the Company was admitted to Corporate Insolvency Resolution Process (CIRP) and Mr. Dhaval C. Khamar, Registration No. IBBI/IPA-001/IP-P02574/2021- 2022/13944 was appointed as Interim Resolution Professional of the Company.

Further, Mr. Mukesh Verma was appointed as the Resolution Professional of the Company w.e.f. 15th April, 2024.

Pursuant to Section 17 of the Insolvency and Bankruptcy Code, 2016, the powers of Board of Directors of the Company stand suspended with effective from the CIRP commencement date i.e. 25th January, 2024 and such powers along with the management of affairs of the company are vested with the Resolution Professional.

The Corporate Insolvency Resolution process of the company is continuing. One Resolution Plan was assented to by the COC with the requisite majority but was not found acceptable by the Honble NCLT and remanded back to the COC with certain observations. The Resolution Applicant has been advised to make necessary amendments in the Plan, addressing the issues raised by the Honble NCLT The updated plan has not been received as on 31-03-2026.

Accordingly, Company has prepared Resolution Professionals Report instead of Boards Report and the said report has been signed by Resolution Professional only instead of Chairman or any director on behalf of Board of Directors as required u/s 134 of the Companies Act, 2013.

PHYSICAL HANDOVER OF SECURED ASSETS & RELINQUISHMENT OF MANAGEMENT CONTROL TO CFM ASSET RECONSTRuCTION PRIVATE Limited (ASSET RECONSTRuCTION COMPANY)

As you are aware, on 13th August, 2021, all the lenders (except Tamilnad Mercantile Bank Ltd) (TMB) have assigned the debts along with all the rights and interests on the secured assets to CFM Asset Reconstruction Private Limited (CFM) under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) by executing two Assignment Agreements both dated 13th August, 2021. A total of 14 fourteen lenders aggregating approximately 99% of the total debt of the Company have assigned their debt to an Asset Reconstruction Company called CFM Asset Reconstruction Private Limited as on 31st March, 2022.

CFM Asset Reconstruction Private Limited has sold all secured assets by way of private treaty under the SARFAESI Act, 2002 to Madelin Enterprises Private Limited (MEPL) & CFM has sent intimation for sale of all the assets of the company to Madelin Enterprises Private Limited (MEPL). Accordingly, manufacturing operations from all locations have been discontinued.

DIVIDEND

With the handover of the secured assets of the Company to MEPL there is no revenue or profit for the company and due to the fact that the Company was under CIRP during the year under review, no dividend is recommended on equity shares of the Company for the year 20252026.

However, the dividend on the preference shares will be carried forward for payment in the next financial year.

SHARE CAPITAL

The paid up Equity Share Capital as on 31st March, 2026 was Rs. 81.87 crores and Preference Share Capital as on 31st March, 2026 was Rs. 14.91 crores.

RESERVES & SURPLUS

You are well aware that, the balance standing in the Equity Share Capital account along with Other Equity account (Reserves and Surplus) has completely been eroded due repossession of assets by the Lender. The net worth of the Company is negative as on the Balance Sheet date.

PERFORMANCE OF THE COMPANY

The Companys revenue for financial year 2025-26 and financial year 2024-25 was Nil. This was primarily due to discontinuation of manufacturing operations of the Company and initiation of CIRP of the Company.

DIRECTORS

All Independent Directors have given declarations that they meet the criteria of Independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation 16(b) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

As your Company is under CIRP no change is proposed in the Board of Directors. Power of Board of Directors have been suspended pursuant to section 17 of the IBC 2016 on the commencement of the CIRP

Mr. Seetharam N. Shetty (DIN: 07962778) ceased to be a Director of the Company w.e.f. April 20, 2025 due to his sad demise.

Further, Mrs. Ujjwala Apte (DIN: 00403378) have ceased to be a Director of the Company w.e.f. June 01, 2025 on account of completion of her tenure of appointment as approved by the shareholders.

After the closure of FY 31.03.2026, Ms. Bindu Darshan Shah has filed her resignation in Form DIR-11 with the Registrar of Companies on 29.06.2026. The effective date of resignation mentioned in the form is 18.04.2024.

BOARD EVALUATION

As the Company was under CIRP during the year under review, no formal annual evaluation has been done for the directors performance and that of the committees and individual directors as required under the provisions of Section 134 read with Rule 8(4) of the Companies (Accounts) Rules, 2014 during the Financial Year 2025-26.

BOARD COMMITTEES

As per the requirements of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the Board of Directors of the Company has five Committees namely Audit Committee, Stakeholders Relationship Committee, Risk Management Committee, Nomination and Remuneration Committee and Corporate Social Responsibility Committee.

However, due to the Company being under CIRP during the year under review, the powers of the Board and the committees thereof stand suspended. Accordingly, no meetings of any committee of the Board of Directors was held during the year under review.

KEY MANAGERIAL PERSONNEL

Accordingly,There was no Key Managerial Personnel in the Company as on March 31,2026.

NUMBER OF MEETiNGS OF THE BOARD & AUDiT COMMiTTEE

Due to the Company being under CIRP during the year under review, the powers of the Board and the committees thereof stand suspended. Accordingly, no meetings of the Board of Directors or any committee thereof were held during the year under review.

SUBSiDiARiES

Company has an overseas subsidiary under the name and style of JBF Global Pte Ltd based out at Singapore, which has subsidiaries, namely JBF Petrochemicals Limited at Mangalore, India, JBF Trade Invest Pte Ltd at Singapore and JBF RAK LLC at UAE with its own subsidiaries, JBF Bahrain WLL and JBF Global Europe BVBA at Belgium.

Resolution Professional would like to bring to the attention of all stakeholders that the step down subsidiary namely JBF Petrochemicals Limited (JPL) had defaulted in payment of interest and repayment of principal to its lenders in FY17-18. The consortium of lenders with IDBI Bank as the lead banker had made an application under the Insolvency Bankruptcy Code, 2016 (IBC) to recover their dues before the National Company Law Tribunal, Ahmadabad in May 2018. This subsidiary has been taken over by GAIL through the CIRP

JBF Trade Invest Pvt Ltd was strike off and Restructuring process is going on for JBF RAK LLC at UAE.

The Company had issued a corporate guarantee of USD 463.96 Million (equivalent of ?3,77,587 lakhs) to the lenders of JBF Petrochemicals Limited ("JPL"), a step-down subsidiary. However, following the sale of secured assets (including its investments in subsidiaries and step-down subsidiary). One of the lenders of JPL vide its letter dated 24th April, 2018 invoked corporate guarantee to the extent of USD 252.00 Million (equivalent of ? 1,99,155 lakhs) as JPL has defaulted in servicing its borrowings towards principal and interest thereon. Company has denied above invocation and is of the view that above corporate guarantee was valid only up to one year from the Commercial operation date i.e. 31st March, 2017 and all obligations of the Company towards above lenders stand rescinded, have fallen away and ceased to exist as on 1st April, 2018. In view of the above, invocation of corporate guarantee on 24th April, 2018 is not legally tenable and hence no provision is required towards the guarantee so invoked. Company has discontinued recognition of guarantee commission w.e.f. 1st April, 2018. Further IDBI bank has filed IA with NCLT Ahmedabad against rejection of their claim in CIRP process, which stands allowed & in compliance of orders of Honourable NCLT, RP has admitted the claim of IDBI. IDBI is now a member of COC. RP & CFM have filed appeal in NCLAT against the NCLT order. On instructions of COC, appeal filed by RP stands withdrawn. CFM too has withdrawn the appeal. Stay on voting on Resolution Plan granted by Honourable NCLAT now stands vacated. The same has been referred by the Auditors in their report on the results and was also referred by the Auditors in their reports on the Financial Statements & results for the earlier years/ quarters.

As on 31st March 2023, M/s. Madelin Enterprises Pvt. Ltd., has acquired the holding of our Company in the Subsidiary Company JBF Global Pte Limited situated at Singapore under the SARFAESI Act but pending transfer in the name of Madelin Enterprises Pvt. Ltd., the shares are still in the company as on date.

One of the operational creditors of JBF RAK LLC, situated at UAE (JBF RAK), had made an application with National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016 against the Company, for supply of raw materials to JBF RAK and claimed for a debt of ? 12,848 lakh (Us$ 19,899,091.53) as per notice dated 17th February, 2020. This application stand dismissed as infructuous hence no provision is required for above claim, as another application was admitted. Further, the operational creditor of JBF RAK LLC has filed its claim with RP which also has not been admitted by him and matter is subjudice. As rejection is contested by the operational Creditor, the same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements & results for the earlier years/ quarters.

EXPLANATiON/COMMENTS ON AUDiT QUALiFiCATiONS

1. Interest @ Nil% on Borrowings

As the Company was admitted by the Honble NCLT vide its order dated 25th January 2024, therefore, the Company has provided interest @ Nil% p.a. w.e.f. 1st April 2023 on term loan, Cash Credit limits and Cumulative Redeemable Preference Shares (CRPS) on its borrowings aggregating to ? 2,47,379 lakhs (Term

Loan Rs. 64,121 lakhs and Cash Credit ?1,71,862 lakhs and CRPS ?11,396 lakhs) as against the documented rate as required as per IND AS -23 "Borrowing Costs" read with IND AS-109 on "Financial Instruments" since Company unable to service interest liability. Aggregate amount of interest not provided for as at 31st March, 2026 is ?2,01,433 lakhs. Accordingly, finance costs for the quarter ended 31st March 2026, for the quarter ended 31st Dec, 2025, for the quarter ended 31st March, 2025 and for the year ended 31st March 2026 and for the year ended 31st March 2025 is lower by ? 11,756 lakh, ? 11,605 lakh, ? 10,241 lakh, ?45,283 lakh and ?39,462 lakh respectively. The same has been qualified by the Auditors in their report on the results and was also qualified by the Auditors in their reports on the Financial Statements & results for the earlier year/ quarters.

2. claim filed BY AN operational creditor OF JBF RAK LLc,

(step-down subsidiary of the company)

In respect of Audit Qualification as referred in (II) (a) (ii) above - application filed by one of the operational creditors of JBF RAK LLC, a subsidiary of the Company, against the Company - This application stand dismissed as infructuous. hence no provision is required for above claim. Further, the operational creditor of JBF RAK LLC has filed its claim with RP, which has also been admitted by him based on NCLT order, the same has been referred by the auditors in their report on results and was also referred by the auditors in their report on financial statements and results for earlier year/quarter

The claim of the operational creditors M/s SABIC has since been admitted.

CORPORATE GOVERNANCE

As per Regulations 34 (3) read with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, a separate section on corporate governance practices followed by the Company (including disclosures prescribed under Section II of Part II of Schedule V of the Companies Act, 2013), together with a certificate from the Companys Auditors on compliance forms an integral part of this report.

CORPORATE SOCIAL RESPONSIBILITY

The disclosures required under section 135 of the Companies Act, 2013, read with the rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 are annexed to Directors/ RP Report. The CSR Policy adopted by the Company is uploaded on the website of the Company at www.jbfindustries.co.in

DISCLOSURE UNDER RULE 5 OF THE COMPANIES (APPOINTMENT AND REMUNERATION) RULES, 2014

Disclosure pertaining to the remuneration and other details as required under section 197(12) of the act read with Rule 5(2) of the Companies (Appointment And Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure and forms part of this report. However, as per the provisions of section 136(1) of the Act, this report is sent to the shareholders excluding the said information. Any shareholder interested in obtaining such particulars may write to the Company at the Registered Office of the Company.

COMPANY POLICIES

The Company has formulated various policies which are available on our website: www.jbfindustries.co.in

ANNUAL RETURN

As required under Section 134(3)(a) and Section 92(3) of the Act, the data on Annual Return has been uploaded on the Companys website viz: www.jbfindustries.co.in

MATERIAL CHANGES AND COMMITMENTS, AFFECTING THE FINANCIAL POSITION OF THE COMPANY, WHICH HAVE OCCURRED AFTER THE END OF THE FINANCIAL YEAR

There were no material changes and commitments that may affect the financial position of the Company, which may have occurred between the end of the financial year and the date of this report.

MATERIAL ORDERS PASSED BY THE TRIBUNAL

1. The Resolution Plan assented to by the COC by the requisite majority was submitted to Honble NCLT but was not found acceptable by the Tribunal and remanded back to the COC with certain observations.

2. Tamilnad Mercantile Banks challenge to sale of assets of the Corporate Debtor by CFM ARC under SARFAESI Act has been disallowed by Honble NCLT.

MAINTENANCE OF COST RECORDS

The provisions of Section 148(1) of the Act were not applicable to the Company during the year under review.

NOMINATION & REMUNERATION POLICY

The Company has formed Nomination and Remuneration Committee and framed the Remuneration Policy. The Committee has been given responsibility of appointment and re-appointment of Whole-time Director, Directors, Key Managerial Persons and the specified employees /executives of the Company and approving their remuneration based on their qualification experience and responsibility in the Company.

The salient features of Remuneration policy are included in Corporate Governance Report forming part of this annual report.

RISK MANAGEMENT POLICY

As a good governance practice, the Company has constituted Risk Management Committee. The Company has a Risk Management Policy and a team to evaluate business risks. However, post 13th August, 2021, with CFM reigning control over the business operations of the Company, the said Committee had a very limited role to play into the business affairs of the Company.

Prior to 13th August, 2021, the Board of Directors used to regularly review risk and threats in the business and takes suitable steps to safeguard Companys interest.

RELATED PARTY TRANSACTIONS POLICY

As per the information available with us, the Company had adopted a Policy for Related Party Transactions as per the erstwhile Listing Agreement entered into with Stock Exchanges. However, the Company does not have a Board approved Policy for Related Party Transactions as per the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

There are no material related party transactions during the period under review with the Promoters, Directors or Key Managerial Personnel. The Company has not formulated a policy on materiality as regards to Related Party Transactions.

WHISTLE BLOWER POLICY

As per the information available with us, the Company had adopted a Whistle Blower Policy as per Section 177 of the Companies Act, 2013 and the erstwhile Listing Agreement entered into with Stock Exchanges. However, the Company does not have a Board approved Whistle Blower Policy as per the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

PREVENTION OF SEXuAL HARASSMENT AT WORKPLACE POLICY And PRESERVATION OF DOCuMENTS POLICY

As on March 31, 2026, there were no employees on the rolls of the Company and hence this requirement was not applicable to the Company.

FIXED DEPOSITS

During the year Company has not accepted any Fixed Deposits from the general public.

STATEMENT OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE (INCLuDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DuRING THE YEAR

Due to the Company being under CIRP during the year under review, the powers of the Board stand suspended.

CHANGE IN NATuRE OF BuSINESS

There was no change in the nature of business of the Company during the year under review.

INTERNAL FINANCIAL CONTROLS

Your Companys internal controls systems 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 budget monitoring process and other standard operating procedures.

particulars of loan, guarantees or investments by company

On 13th August, 2021, all the lenders (except Tamilnad Mercantile Bank Ltd) had assigned the debts along with all the rights and interests on the secured assets to CFM Asset Reconstruction Private Limited (CFM) under the Securitization and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 (SARFAESI) by executing two Assignment Agreements both dated 13th August, 2021. A total of 14 fourteen lenders aggregating approximately 99 % of the total debt of the Company had assigned their debt to an Asset Reconstruction Company called CFM as on 13th August, 2021. The Board of Directors are no longer in the helm of affairs of the Company w.e.f - 13th August, 2021. CFM was closely monitoring and managing the day to day plant and corporate office operations through Deloitte Touche Tohmatsu India LLP, Mumbai who had been appointed as the nodal agency by CFM. Further, to the intimation of the said assignment, CFM had also issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 and the rules framed there under to recover the entire dues including principal and interest. In response to the said notice, the Company had given an "In principle consent" to handover the secured assets which includes land, building, movable assets, inventory, sundry debtors, investments in subsidiaries & step-down subsidiary, intangible assets (including the SAP accounting software) and other current and noncurrent assets of the Company to CFM. On 11th November 2021, CFM took physical possession of the secured assets of JBF Further the Company was in receipt of Intimation for sale of secured assets by way of private treaty under the SARFAESI Act, 2002 on 11th May, 2022 and thereafter, proceeded to sell the same by way of private treaty under the SARFAESI Act to Madelin Enterprises Private Limited (MEpL)

The Company was admitted by the Honble NCLT into Corporate Insolvency Resolution Process (CIRP) vide its order dated 25th January 2024 & CIRP is in progress.

INSuRANCE

All the properties of the Company including buildings, plant and machinery and stock have been repossessed by CFM. There are no fixed assets or stock in the books of the company.

resolution PROFESSIONALS RESPONSIBILITY STATEMENT

To the best of knowledge and belief and according to the information and explanations obtained by them, your Resolution Professional makes the following statement in terms of Section 134(3) (c) of the Companies Act, 2013:

i. that in the preparation of the annual accounts for the year ended 31st March, 2026, the applicable Indian Accounting Standards (IND- AS) have been followed along with proper explanation relating to material departures, if any;

ii. the Directors/RP had 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 as at 31st March, 2026 and of the profit/ loss of the Company for the year ended on that date;

iii. that the Directors/RP have 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;

iv. the annual accounts have been prepared on a going concern basis;

v. that the Directors/RP had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

MANAGEMENT DISCuSSION AND ANALYSIS

As there were no manufacturing operations in the Company during the year under review, the information relating to segment-wise/product wise performance, Opportunities and threats, industry developments etc. were not applicable to the Company and hence not provided. Future Outlook

At present, your Company is under CIRP! Any decision of the Honble NCLT will have binding effect on all stakeholders. Further, at present there are no manufacturing operations in the Company.

Concerns

At present, your Company is under CIRP Any decision of the Honble NCLT will have binding effect on all stakeholders.

Details of significant changes in key financial ratios, along with detailed explanations thereof:

There was no significant change in any ratios.

Details of Change in Return on Net Worth:

The Entire Net Worth has been eroded and hence Return on Net Worth is not applicable.

COMPLIANCE WITH SECRETARIAL STANDARDS

The RP has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively.

SECRETARIAL AUDITOR

Pursuant to the provision(s) of Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Section 204 of the Companies Act, 2013 and the Rules made thereunder and upon recommendation of the Resolution Professional of the Company, the Shareholders of the Company had at the Extraordinary General Meeting of the Company held on June 23, 2026, approved the appointment of M/s. Elias L. Rodrigues & Co., Company Secretaries in Practice (Firm Registration No. S2018MH614100), as the Secretarial Audit of the Company for a term of five (5) consecutive years, commencing from the financial year 2025-2026 until financial year 2029-2030. The Secretarial Audit Report is included as and forms an integral part of this Report.

SECRETARIAL AUDIT OBSERVATION AND MANAGEMENT RESPONSE ON THE SAME

Auditor Observations	Management Response
All the e-forms were filed with the Registrar of Companies within the stipulated time period except the following e-forms which were filed with a delay and payment of additional fee: a. Form DIR-12 for cessation of Mr. Ujjwala Apte and Mr. Seetharam Narayana Shetty as a Director. b. Form MGT-14 for filing resolutions passed at the AGM held on 30.09.2025. Further, certain e-forms have not been filed by the Company during the year under review. Upon examination of the same, it is understood that the Company being under CIRP during the year under review, the MCA V3 portal was not allowing the Company to file certain e-forms. Upon entering the CIN of the Company in certain e-forms on MCA V3 portal, the system showed an error stating "CIN entered is not valid. Please enter a valid CIN."	Delay was inadvertent and without any malafide intent. There was delay in filing the requisite forms due to limitation of resources in the Company caused by ongoing CIRP of the Company and also due to technical issues.
The Company has not fully complied with the provisions of SS-1 issued by the Institute of Company Secretaries India (ICSI), as notified by the Central Government under section 118(10) of the Companies Act, 2013 and mandatorily applicable.	During the year under review, the Company was under CIRP. Secretarial Standards have been complied with by the Company, to the extent practically possible.
The Company has not paid Annual Listing Fee for FY 2025-26 to BSE Limited.	No invoice received from BSE Limited.
The Website of the Company is not updated as per Regulation 46 of the Listing Regulations and all the requirements under the said regulation are not uploaded.	Company is in the process of updating the website. Delay was inadvertent and without any malafide intent.
Policies are partially adopted by the Company and not timely updated as per SEBI Regulations.	As the Company is under CIRP no new Policy is being adopted.
The Company is yet to submit the SDD Compliance certificate as per Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015. Further the Company does not have a proper system and software for maintaining the UPSI.	Company is in the process of complying with necessary compliance requirements.
The Company has not received Annual Disclosure of Designated Persons as per SEBI (Prohibition of Insider Trading) Regulations, 2015.	No action pending on Companys side.
In the Integrated Financial Report filed by the Company on 14.11.2025 for the quarter ended 30.09.2025, instead of the figures for quarter ended 30.09.2025, the figures for half year ended on 30.09.2025 were mentioned and the same was later revised and refiled on 27.11.2025 on BSE and 28.11.2025 on NSE.	The Company had filed the updated correct disclosure as required by the stock exchanges.

STATUTORY AUDITOR

The Members of the Company had at the Annual General Meeting held on 13th December, 2023, approved the appointment of M/s. S. C. Ajmera & Co., Chartered Accountants, Udaipur (Registration No. 002908C) as the Statutory Auditors of the Company for Five years w.e.f. from 1st April, 2023.

M/s. S. C. Ajmera & Co., Chartered Accountants, Udaipur (Registration No. 002908C) have confirmed that they continue to be eligible to act as the Statutory Auditors of the Company in compliance with Section 139 and 141 of the Act read with rules made there under and the Listing Regulations, to the extent applicable.

Further, there are no frauds, details of which as required to be reported under Section 143(12) of the Act.

INTERNAL AUDITOR

Company has not appointed internal Auditor for the financial year 2025-2026.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

As the Company does not have any manufacturing operations, it does not account for substantial energy consumption. However, the Company adopts all possible measures to conserve energy.

The provisions relating to technology absorption were not applicable to the Company during the year under review.

There were no foreign exchange earnings and outgo during the year under review.

COMPLIANCES UNDER MATERNITY BENEFIT ACT, 1961 / CODE ON SOCIAL SECURITY 2020:

The Company is in compliance with the applicable provisions relating to maternity benefits as prescribed under the Maternity Benefit Act, 1961 / the Code on Social Security, 2020.

ACKNOWLEDGEMENT

The Resolution Professional would like to express their grateful appreciation for the assistance, support and co-operation received from the Lenders, Government Authorities and Shareholders during the year under review.

For JBF Industries Limited

	Mr. Mukesh Verma
	Resolution Professional (RP)
Place : Mumbai	Registration No: IBBI/IPA-001/IP-
Date :13th August, 2026	P01665/2019-2020/12522