Ladam Affordable Housing Ltd Directors Report

To

The Members,

Ladam Affordable Housing Limited,

Thane

Your directors have pleasure in submitting their 45^th Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31^st March, 2024.

FINANCIAL RESULTS

The Companys financial performances for the year under review along with previous years figures are given hereunder:

	Standalone		Consolidated
Particulars	For the Year ended 31st March, 2024	For the Year ended 31st March, 2023	For the Year ended 31st March, 2024	For the Year ended 31st March, 2023
Net Sales / Income from Business Operations		-	81,80,640	93.25,980
Other Income	15,26,338	5,97,861	22,35,888	35,42,701
Total Income	15,26,338	5,97,861	1,04,16,528	1,28,68,681
Profit before Interest	(11,90,858)	(23,21,341)	(3,34,830)	(11,69,918)
Less:Interest	-	-	3,440	86,914
Profit before Depreciation	(11,90,858)	(23,21,341)	(3,38,270)	(12,56,832)
Less: Depreciation	1,176	3,195	4,86,886	5,07,063
Profit after depreciation and Interest	(11,92,034)	(23,24,536) (-	(8,25,156)	(17,63,895)
Less: Current Income Tax	-	-	1,03,210	1,47,770
Less: Previous year adjustment of Income Tax,
Less: Deferred Tax	-	-	-	-
Net Profit after Tax	(11,92,034)	(23,24,536)	(9,28,366)	(19,11,665)
Dividend (including Interim if any and final)	-	-	-	-
Net Profit after dividend and Tax	(11,92,034)	(23,24,536)	(9,28,366)	(19,11,665)
Amount transferred to General Reserve	-		-	-
Balance carried to Balance Sheet	(11,92,034)	(23,24,536)	(9,28,366)	(19,11,665)
Total Comprehensive Income for the year	(11,55,182)	(24,65,636)	(8,91,514)	(20,52,765)
Earnings per share (Basic)	(0.07)	(0.13)	(0.05)	(0.10)
Earnings per Share(Diluted)	(0.07)	(0.13)	(0.05)	(0.10)

BUSINESS RESULTS

During the year under review, your Company has registered revenue as per Standalone & Consolidated financials of Rs. 15,26,338 and Rs. 1,04,16,528 against Rs. 5,97,861/- and Rs. 1,28,68,681/-respectively in the previous year. The Profit/(Loss) after taxes as per Standalone & Consolidated financials in the current year is Rs. (11,92,034)and Rs. (9,28,366)respectively and Profit/(Loss) after taxes as per Standalone & Consolidated financials are (23,24,536) and Rs. (19,11,665) /- respectively in the previous year.

FINANCE

Cash and cash equivalents as per standalone and consolidated financials as on March 31, 2024 was Rs. 2,21,388 and Rs. 67,25,688 respectively. The Company continues to focus on judicious management of its working capital. Receivables, inventories and other working capital parameters were kept under strict check through continuous monitoring.

DIVIDEND

The Board does not recommend any Dividend for the current financial year due to incurring losses during the year under review.

TRANSFER TO RESERVES

The Company has not transferred any amount to General Reserve.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Since there was no amount of unpaid/unclaimed Dividend, the Company is not required to transfer any amount to the Investor Education & Protection Fund as per provisions of Section 125 of the Companies Act, 2013.

DEPOSITS

The Company has not accepted any deposits which would be covered under Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS

Pursuant to change of its name and Main objects in the year 2015-16, the Company intends to monetize its real estate portfolio by getting into construction of mass housing project considering affordable housing project scheme.

MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE ENDS OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENT RELATE AND THE DATE OF THE REPORT

There are no material changes and commitment affecting the financial position of the Company occurred from 31st March, 2024 till date of this report which are required to be reported.

DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility Statement: ?

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) 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 and of the profit and loss of the company for that period;

(c) 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 for preventing and detecting fraud and other irregularities;

(d) the directors have prepared the annual accounts on a going concern basis; and

(e) the directors have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(f) the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DIRECTORS

1. Mr. Sumesh Aggarwal- Executive Director

2. Mr. Ashwin Kumar Sharma- Non- Executive Director

3. Mr. Jayaprasad Pillai- Independent, Non-Executive Director

4. Mrs. Geethu Padavale - Independent, Non-Executive Director

In pursuant to the provisions of the Companies Act, 2013 and the Articles of Associations of the Company, Mr. Ashwin Kumar Sharma retires by rotation and being eligible, offer himself for re-appointment.

Name	Designation	Qualification	Age & Experience (Years)	Date of Commencement of Employment
Mr. Ashwin Kumar Sharma	Director	Bachelor of Commerce	46 years	December 12, 2013

KEY MANAGERIAL PERSONNEL:

The following persons have been designated as key managerial personnel of the Company pursuant to section 2(51) of the Companies Act, 2013 read with rules framed thereunder:

1. Mr. Sumesh Aggarwal - Chief Executive Officer (CEO)

2. Ms. Mohini Budhwani (Resigned w.e.f. 31st Dec 2023)

3. Ms. Hemanshi Lodaya (Appointed w.e.f. 26th March 2024)

4. Mr. Rajesh Mukane- Chief Financial Officer (CFO)

MEETINGS

A calendar of Board Meetings, Annual General Meeting and Committee Meetings is prepared and circulated in advance to the Directors of your Company.

The Board of Directors of your Company met 5 times during 2023-24 i.e., on 29^th May, 2023, 14^th August, 2023, 09^th November, 2023, 13^th February, 2024 and 26^th March,2024 . The maximum time gap between any two consecutive meetings did not exceed one hundred and twenty days.

The Company has complied with the applicable Secretarial Standards in respect of all the above-Board meetings.

All the directors were present in the above-mentioned Board meetings.

STATEMENT OF DISCLOSURE OF REMUNERATION UNDER SECTION 197(12) OF THE COMPANIES ACT, 2013 AND RULE 5(1) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014

(i) The ratio of remuneration of each Director to the Median remuneration of the employees of the Company for the F.Y. 2023-24

Name of Director	Median	Remuneration	Ratio
Mr. Sumesh Bharat Aggarwal	Nil	Nil	Nil
Name of KMP	Designation	F.Y. 23-24	F.Y. 22-23	% Increased
Mr. Rajesh Mukane	CFO	4,78,667 p.a.	4,80,000 p.a.	-
Ms. Mohini Budhwani	CS	1,80,000 pa^	4,80,000 p.a.	-
Ms. Hemanshi Lodaya (Company Secretary) w.e.f. 26th March 2024	CS	4839		-
Mr. Sumesh Aggarwal	Executive Director	-	-	-
Note: Mr. Sumesh Aggarwal, CEO & Executive Director o	the Company d	id not draw

any remuneration during the F.Y. 2023-24 from the Company.

(iii) The Percentage increase in the median remuneration of the Employees in the Financial Year.

The Percentage increase in the median remuneration of the employees in the financial year 2023-24 is 0 %

(iv) The Number of Permanent employees on the rolls of the Company

Permanent employees on the rolls of the Company as on March 31, 2024 were 5.

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

Average percentile increase for the employees for the F.Y. 2023-24 is 0%. The increment given to each individual employee was based on the employees potential, experience, performance and contribution to the Companys performance targets over a period of time and also benchmarked against Industry Standard.

REMUNERATION / COMMISSION DRAWN FROM HOLDING / SUBSIDIARY COMPANY:

The details of remuneration / commission received by the directors of the Company from the holding Company / subsidiary Company are as follows:-

Name of Director	Nature (Remuneration / Commission )	Amount	Company from which this amount is drawn
Sumesh B. Agarwal	Remuneration	10,00,000/-	Ladam Homes Private Limited

(ii) The Percentage increase in remuneration of each Director, CFO, CEO, CS, if any, in the financial year.

BOARD & COMMITTEE EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and under Regulation 25 of the SEBI (Listing obligations and disclosure requirements) Regulations, 2015, the Board has carried out an evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration Committees.

POLICY ON DIRECTORS APPOINTMENT AND THEIR REMUNERATION

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration. The policy is available on the Companys website at www.ladamaffordablehousing.com

CORPORATE SOCIAL RESPONSIBILITY

As per Section 135(1) of Companies Act 2013, every company having net worth of Rs. Five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee. However the Company does not come under the purview of said criteria for complying CSR provisions during the period under review.

SEPARATE INDEPENDENT DIRECTORS MEETINGS

The Independent Directors meet at least once in a year, without the presence of Executive Directors or Management representatives.

The Independent Directors met on 13^th February, 2024 during the Financial Year.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company proactively keeps its directors informed of the activities of the Company, its management and operations and provides an overall industry perspective as well as issues being faced by the industry. The details of the same are available on the website of the Company.

DECLARATION OF INDEPENDENCE

Your Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 read with Schedules and Rules issued there under and under Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

STATUTORY AUDITORS

M/s D.P Sarda & Company, Chartered Accountants, (Firms Registration No. 117227W) are considered for re-appointment as Auditors of the Company for a term of four (4) consecutive years subject to approval of shareholders at the AGM held on 25th September,2024. The Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

STATUTORY AUDITORS REPORT (Qualification if any)

The observations of the Statutory Auditors, when read together with the relevant notes to the accounts and accounting policies are self-explanatory and do not calls for any further comment.

REPORTING OF FRAUDS BY STATUTORY AUDITORS UNDER SECTION 143(12):

There were no incidences of reporting of fraud by Statutory Auditors of the Company under Section 143(12) of the Act read with Companies (Accounts) Rules, 2014.

SECRETARIAL AUDITOR

Pursuant to provisions of section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s. Ashita Kaul & Associates, a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company for the Financial Year 2023-24

SECRETARIAL AUDIT REPORT

The Secretarial Audit Report contains three qualifications given by the M/s. Ashita Kaul & Associates, i.e.:

1. As per Regulation 31(2) of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 the entire shareholding of Promoter(s) and promoter group needs to be in dematerialized form, however the above requirement was not complied by the company as 8,00,000 shares of Mr. Bharat Bhushan Aggarwal (The Promoter of the company) was not in Dematerialized form as the shares were pledged secure a loan taken by an associate company

Management Response: The shares are pledged to secure a loan taken by an associate company and physical share certificates have been handed over to Lender.

2. As per Regulation 30(6) of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation,2015, the listed entity is required to disclose to stock exchange of all events specified in Part A of Schedule III, wherein the outcome of board meeting held to consider Financial Results needs to be intimated within 30 minutes, however the company failed to submit the outcome of Board meeting for the half year ended 30^th September,2023 due to unexpected network issues which were out of companys control.

Management Response : Due to unfortunate circumstances and unexpected network issues company was unable to upload the outcome within the time limited as prescribed under Regulation 30(6) and SEBI III of SEBI(LODR) REGULATIONS ,2015. Further, we state that due to circumstances which was not in scope of human control we had tried our best to upload the same without any malafide intention.

4. As per Regulation 23(9) of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015, the listed entity is required to submit to the stock exchanges disclosures of related party transactions in the format as specified by the Board from time to time. The company failed to submit disclosure of related party transaction to BSE for the half year ended 30th September, 2023 due to misinterpretation of the regulations. However, corrective measures were implemented, and the disclosure was submitted on November 11, 2023.

Management Response: Due to misinterpretation, there was a delay in disclosing related party transactions. Corrective measures are taken. Disclosure was made on November 11, 2023.

5. According to Regulation 34 of SEBI (LODR) Regulations,2015 failed to submit Annual Report within the period prescribed and subsequently BSE had withdrawn the Fine.

Management Response: We had submitted Annual report under Reg 34 (1) on the BSE Website dated 24^th August, 2023 and also on the Companys Website within the prescribed time Limit. As a proactive measure to address this concern, we had refiled the annual report.

6. According to Regulation 32(1) of Chapter (V) of SEBI (Delisting of Equity Shares) Regulation 2021 The company has received show cause notice from CSE providing a final opportunity to comply with the provisions for listing its equity shares with CSE and The Notice states that failure to comply will result in compulsory delisting from CSE under SEBI (Delisting of Equity Shares) Regulation 2021. The company has paid the Annual Listing Fees along with interest of Rs. 4,62,194.70 and is process of revocation of suspension from CSE.

Management Response: The Company has paid the Annual Listing Fees and is in the process of revocation of suspension and is complying with the compliance of CSE

7. According to Regulation 32(1) of Chapter V of SEBI (Delisting of Equity Shares) Regulation 2021, a stock exchange can delist a companys shares based on rules under the Securities Contracts (Regulation) Act, 1956. The company has failed to submit compliances to Calcutta Stock Exchange (CSE) and failed to revoke suspension of the company. As a result, Central Depository Services (India) Limited (CDSL) has freezed the demat account of Mr. Sumesh Aggarwal (Chairperson, Promoter, CEO), Mr. Ashwin Kumar Sharma (Non-Executive Independent Director), and Ms. Geetu Padavale (NonExecutive Independent Director).

Management Response: The Company is in the process of revocation of suspension and is complying with the compliance of CSE.

ANNUAL RETURN

As required under Section 134 (3)(a) of the Act, the Annual Return for the year 202324 is put up on the Companys website and can be accessed at:

http://www.ladamaffordablehousing.com/Form MGT 7 FY 2023-24 final draft.pdf

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The details of financial performance of Subsidiary/ Joint Venture/Associate Company

is furnished in Annexure B and attached to this report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER

SECTION 186 OF THE COMPANIES ACT, 2013

The particulars of Loans, guarantees or investments made under Section 186 are

furnished in Annexure C and are attached to this report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The particulars of Contracts or Arrangements made with related parties made pursuant to Section 186 are furnished in Annexure D and are attached to this report.

CORPORATE GOVERNANCE AND COMPLIANCE OF SECRETARIAL STANDARDS

The Company has complied with the Corporate Governance requirements under Companies Act 2013 and as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A Separate Section on Corporate Governance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 along with the Certificate from Practicing Company Secretary confirming the Compliance, is annexed and forms part of the Annual Report.

The Company has complied with the Secretarial Standards issued by Institute of Company Secretaries of India on Meeting of the Board of Directors and General Meetings.

INTERNAL AUDIT SYSTEM

The Companys internal Auditors had conducted periodic audit to provide reasonable assurance that the Companys established policies and procedure have been followed.

INTERNAL CONTROL SYSTEM AND ITS ADEQUACY

The Company has a proper and adequate internal control system for all its activities including safeguarding and protecting its assets against any loss from its unauthorized use or disposition. All transactions are properly documented, authorized, recorded and reported correctly. The Company has well defined Management Reports on key performance indicators. The systems are reviewed continuously and its improvement and effectiveness is enhanced based on the reports from various fields. Normal foreseeable risks to the companys assets are adequately covered by comprehensive insurance.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Your Company is not engaged in any manufacturing activities and therefore, no particulars are required to be disclosed under the Rule 8(3) of the Companies (Accounts) Rules, 2014, in respect of conservation of energy and technology absorption.

Further, there were no foreign exchange earnings and outgo during the year under review.

DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

SHARES

a. BUY BACK OF SECURITIES

The Company has not bought back any of its securities during the year under review.

b. SWEAT EQUITY

The Company has not issued any Sweat Equity Shares during the year under review.

c. BONUS SHARES

No Bonus Shares were issued during the year under review.

d. EMPLOYEES STOCK OPTION PLAN

The Company has not provided any Stock Option Scheme to the employees. PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code. All the Directors and the designated employees have confirmed compliance with the Code.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In compliance with various Regulations of the SEBI (Listing obligations and disclosure requirements) Regulations, 2015 entered in with the Stock Exchange, a separate section on Management Discussion and Analysis that includes details on the state of affairs of the Company as required to be disclosed in the Directors Report forms part of this Annual Report.

COMMITTEES OF THE BOARD

The Board has constituted various committees which are constituted in compliance with the applicable provisions of Act and Listing Regulations. Detailed Composition of all the Committees held during the year under review is provided in Corporate Governance Report of the Company.

a. AUDIT COMMITTEE

The Company has duly constituted Audit Committee comprising of Mr. Jayaprasad Pillai, Independent Director (Chairperson), Mr. Sumesh Aggarwal, Executive Director and, Mrs. Geethu Padavale, Non-Executive Independent Director. The terms of reference, Scope and powers of Audit Committee are in line with the applicable provisions of the Act & Listing Regulations. Company Secretary acted as secretary to the committee.

b. NOMINATION AND REMUNERATION COMMITTEE

The Company has duly constituted Nomination & Remuneration Committee comprising of Mr. Jayaprasad Pillai, Independent Director (Chairperson), Mr. Ashwin Kumar Sharma, Executive Director, and Mrs. Geethu Padavale, Non-Executive Independent Director. The Remuneration Policy is available on the Companys website at www.ladamaffordablehousing.com

c. STAKEHOLDERS RELATIONSHIP COMMITTEE

The Company has duly constituted Stakeholders Relationship Committee comprising of Mr. Jayaprasad Pillai, Independent Director (Chairperson), Mr. Ashwin Kumar Sharma, Non- Executive Director and Mr. Sumesh Aggarwal, Executive Director. The terms of reference, Scope and powers of SRC are in line with the applicable provisions of the Act and Listing Regulations.

WHISTLE BLOWER POLICY

As required under Regulation 22 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has an effective Whistle Blower Policy to deal with the instances of fraud and mismanagement. The policy is available on the Companys website at www.ladamaffordablehousing.com. The policy provides for adequate safeguard against the victimization of the employees.

RISK MANAGEMENT POLICY

Your Company has framed a Risk Management Policy to monitor the risk and manage uncertainty and changes in internal and external environment to limit negative impacts and capitalize on opportunities.

PARTICULARS OF EMPLOYEES

The applicable information required pursuant to section 197 of the Companies Act, 2013 read with rule (5) of the Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014 in respect of employees are as under:

Sr. No.	Name	Designation	Median remuneration of Employees in Rs.	Ratio	% increase
1	Ms. Mohini Budhwani (Resigned w.e.f. 31st Dec 2023)	Company Secretary	20,000
2	Ms. Hemanshi Lodaya (Appointed w.e.f. 26th March 2024)	Company Secretary	25,000
3	Mr. Rajesh Mukane	Chief Financial Officer	40,000	-	-

Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as prescribed under rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, containing details prescribed under rule 5(3) of the said rules, which form part of the Directors Report, will be made available to any member on request, as per provisions of Section 136(1) of the Act.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. Internal Complaints Committee has been set up to redress the complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. There were no cases reported during the financial year ended March 31, 2024.

SAFETY

The Management is committed to ensure safety of its employees, plant and community at all its operations. The safety Management system has been established, communication, involvement, motivation, skill development, training and health have been identified as the key drivers for safe working environment. These initiatives have resulted in reducing the injuries and lost time significantly.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

The Company has always been socially conscious corporate and has always carried forward all its operations and procedures following environment friendly norms with all necessary clearances.

ACKNOWLEDGEMENTS

Your directors place on records their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your directors also acknowledge gratefully the shareholders for their support and confidence reposed on your Company.

Disclosure of reason for difference between valuation done at the time of taking Loan From bank and at the time of one-time settlement

There was no instance of onetime settlement with any Bank or Financial Institution.

Disclosure of proceedings pending or application made under Insolvency and Bankruptcy Code, 2016

No application was filed for corporate insolvency resolution process, by a financial or operational creditor or by the company itself under the IBC before the NCLT.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Sd/-	Sd/-
Mr. Sumesh Aggarwal	Mr. Jayaprasad Pillai
Director	Director
Din:00325063	Din: 01560300

Registered Office:

Ladam House, C-33,

Opp. ITI, Wagle Industrial Estate, Thane(W) 400604 Date: August 13^th, 2024 Place: Thane