One Global Service Provider Ltd Directors Report.

To,

The Members

One Global Service Provider Limited

Your Directors have pleasure in presenting the 29th Annual Report on the Companys business and operations, together with the Audited Financial Statements for the Financial Year ended 31st March, 2021 and other accompanying reports, notes and certificates.

FINANCIAL HIGHLIGHTS

The Financial highlights of the Company for the year ended March 31, 2021 are as follows:

Figures (INR in Lakhs)

Particulars Year Ended March 31, 2021 Year Ended March 31, 2020
Gross Sales 366.71 -
Other Operating Income - 0.15
Total Revenue 366.71 0.15
Less: Total expenses 133.68 30.39
Profit/(Loss) before Exceptional and Extraordinary items and Tax 233.03 (30.24)
Exceptional Items - -
Extraordinary Items - -
Profit/(Loss) before Tax 233.03 (30.24)
Tax Expenses (Deferred Tax) (0.25) -
Profit/ (Loss) for the year 233.28 (30.24)

The Company has reported Profit of INR 233.28 Lakhs during the year under review as compared to loss of INR 30.24 Lakhs in the previous year.

DIVIDEND & APPROPRIATIONS

The Board of the Company did not recommend any dividend for the year under review.

UNPAID DIVIDEND & IEPF:

The Company is not required to transfer any amount to IEPF Account

TRANSFER TO RESERVES

In the absence of Profits, there has been no transfers to the General Reserve of the Company for the year under review.

SHARE CAPITAL

Authorized Capital:

The Authorized Share capital of the Company as on March 31, 2021 is INR 25,00,00,000.

Issued, Subscribed and Paid-up Capital:

The Issued, Subscribed and Paid-up Capital of the Company is INR 7,10,47,070. No change in the Issued, Subscribed and Paid-up Capital is made during the year under review.

DETAILS OF SUBSIDIARY/ JOINT VENTURES/ASSOCIATE COMPANIES

Sr. No. Name of Company Subsidiary / Joint Venture / Associate Company Date of becoming of Subsidiary / Joint Venture / Associate Company
- - - -

Statement Containing Salient Features of Financial Statements of Associate Company:

Your Company is not having any Associate Company and hence the statement containing the salient feature of the financial statement of a companys associate Company under the first proviso to subsection (3) of section 129 in the prescribed Form AOC-1 does not form part of Directors Report.

Details of New Subsidiary / Joint Ventures/Associate Companies:

There are no new Subsidiary/Joint Ventures/Associate Companies of the Company during the year under review.

Details of the Company who ceased to be its Subsidiary/ Joint Ventures/ Associate Companies:

Sr. No. Name of Company Subsidiary / Joint Venture / Associate Company Date of cessation of Subsidiary / Joint Venture / Associate Company
- - - -

BOARD OF DIRECTORS, MEETINGS AND ITS COMMITTEES:

Change in Directors and Key Managerial Personnel:

During the period under review the following changes took place in the Composition of Board of Directors and Key Managerial Personnel of the Company:

In terms of Section 152 and other applicable provisions, if any, of the Companies Act, 2013 (the Act‘), Ms. Manjeet Sanjay Mehta (DIN: 07598290) retires by rotation at this Annual General Meeting and being eligible, offers herself for re-appointment.

Resignations:

During the year no director has been resigned.

Appointments

1. Mr. Vijay Nanaji Dhawangale appointed as Managing Director with effect from 24th October, 2019.

2. Mr. Sanjay Upadhya appointed as Director with effect from 12th November, 2019.

3. Mr. Sudhir Thakre appointed as Independent Director with effect from 3rd December, 2019.

4. Mr. Yogesh Khadikar and Mr. Jayesh Kulkarni appointed as Independent Director with effect from 15th September, 2020

5. Ms. Manjeet Sanjay Mehta appointed in the post of Director with effect from 30th July, 2020.

6. Ms. Priyanka Garg appointed as Company Secretary and Compliance Officer with effect from 15th September 2020.

7. Ms. Megha Kamal Samdani appointed as Independent Director from 10th November, 2020 up till 24th August 2021.

8. Mr. Ankitkumar Vishnubhai Nayak appointed as CFO (KMP) with effect from 30th November, 2020

Meetings of the Board of Directors:

During the year under review, 6 (Six) Meeting of the Board of Directors were held on 30th July, 2020, 20th August, 2020, 15th September, 2020, 10th November, 2020, 30th November, 2020, 13th February, 2021 in accordance with the provisions of the Companies Act, 2013 and rules made there under and the applicable secretarial standards.

The details of attendance of each Director at above Meetings are provided as below:

Name of the Director No. of Board Meetings entitled to attend as a Director No. of Board Meetings attended
1. Vijay Nanaji Dhawangale 6 6
2. Sudhir Deomanrao Thakre 6 6
3. Sanjay Lalbhadur Upadhyay 6 6
4. Megha Kamal Samdani 2 2
5. Priyanka Garg 3 3
6. Ankitkumar Vishnubhai Nayak 1 1
7. Jayesh Kulkarni 3 3
8. Manjeet Sanjay Mehta 5 5
9. Yogesh Khadikar 3 3

Committees of Board:

The provisions of the Companies Act, 2013 and the Securities Exchange Board of India (Listing Obligations and Disclosures Requirements), Regulation, 2015 have prescribed and mandated

Forming of Committees of the Board for efficient working and effective delegation of work and to ensure transparency in the practices of the Company. Accordingly, the Committees formed by the Board are as follows:

I. Audit Committee:

Pursuant to Section 177 of the Companies Act, the Board has formed an Audit Committee. The details of which is disclosed herewith.

The Audit Committee of your Company was formed with the purpose of ensuring Transparency, Efficiency & Accountability in the transactions of the Company. Further to recommend Appointment & Remuneration of the Statutory Auditors of the Company, examining the Financial Statements, approving Related Party transactions, carrying out valuation of various Undertakings/Assets of the Company etc.

Reconstitution of Audit Committee during the year under review took place in the following manner:

Further, Mr. Sudhir Thakre, appointed as Independent Director with effect from 3rd December, 2019.

Mr. Jayesh Kulkarni and Mr. Yogesh Khadikar was appointed as an Director with effect from 15th September, 2020.

Consequent to the appointment Mr. Yogesh Khadikar and Mr. Jayesh Kulkarni on the Board of the Company the Audit Committee was reconstituted with effect from 15th September, 2020 with the following composition -

Sr. No. Name of the Member Designation
1. Sudhir Thakre Member (Chairperson)
2. Jayesh Kulkarni Member
3. Yogesh Khadikar Member

The Audit Committee is constituted and has met Four times during the Financial Year 2020- 21 on 30th July, 2020, 15th September, 2020, 10th November, 2020, 13th February, 2021.

II. Nomination and Remuneration Committee:

The Company pursuant to Section 178(1) of the Companies Act, 2013 has formed the Nomination and Remuneration Committee. The details of which is disclosed herewith. The policy is available on the following web-link of the Company:

http://www.1gsp.in/

The Committee is, inter-alia has been formed to identify persons who are qualified to become Directors of the Company and who may be appointed in the Senior Management along with the evaluation of Directors performance, formulating criteria for determining positive attributes and independence of a Director and recommending policy relating to the remuneration of the Directors, Key Managerial Personnel and other employees and granting of Employee Stock Options to eligible employees.

Further, Mr. Sudhir Thakre, appointed as Independent Director with effect from 3rd December, 2019.

Mr. Jayesh Kulkarni and Mr. Yogesh Khadikar was appointed as an Director with effect from 15th September, 2020.

Consequent to the appointment of Mr. Yogesh Khadikar and Mr. Jayesh Kulkarni on the Board of the Company the nomination and remuneration Committee was reconstituted with effect from 15th September, 2020 with the following composition -

Sr. No. Name of the Member Designation
1. Sudhir Thakre Member (Chairperson)
2. Jayesh Kulkarni Member
3. Yogesh Khadikar Member

The Nomination and Remuneration Committee is constituted and has met twice during the Financial Year 2020-21 on 30th July, 2020, 13th February, 2021.

III. Stakeholders Relationship Committee/ Shareholders Grievance Committee:

The Board has in accordance with the provisions of Section 178(5) of the Companies Act, 2013 constituted Stakeholder Relationship Committee. The details of which is disclosed herewith.

The Stakeholders Relationship Committee has been formed to resolve the grievances of various stakeholders of the Company. Its scope of work includes overseeing the performance of the RTA and take note of the complaints received, issuing of duplicate share certificates in case of loss/ theft or torn certificate, redressal of issues related to non-receipt of dividend/Annual report, etc

The Committee, inter alia, started overseeing and reviewing all matters connected with the shares and looks into shareholders complaints.

No complaints were received by the Company from the shareholders / investors during the Financial Year 2020-21 and no investor complaints were outstanding as on 31st March 2021 and no requests for transfer of shares were pending for approval.

Reconstitution of Stakeholders Relationship Committee during the year under review took place in the following manner:

Further, Mr. Sudhir Thakre, appointed as Independent Director with effect from 3rd December, 2019.

Mr. Jayesh Kulkarni and Mr. Yogesh Khadikar was appointed as an Director with effect from 15th September, 2020.

Consequent to the appointment of Mr. Jayesh Kulkarni and Mr. Yogesh Khadikar on the Board of the Company the Stakeholders relationship Committee was reconstituted w.e.f. 15th September, 2020 with the following composition

Sr. No. Name of the Member Designation
1. Sudhir Thakre Member (Chairperson)
2. Jayesh Kulkarni Member
3. Yogesh Khadikar Member

The Stakeholders Relationship Committee is constituted and has met twice during the Financial Year 2020-21 on 30th July, 2020 and 13th February, 2021.

IV. Risk Management Committee:

According to the Regulation 21 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, a Risk Management Committee is to be formed by the top 500 listed Companies based on market capitalization. However, One Global Service Provider Limited does not fall under the threshold. But the Board has opted voluntarily to form the Committee in order to cover the short-comings and secure the position of the Company. The details of the Committee are disclosed herewith.

With a view to control various risks associated with, market fluctuations, change in government policies etc, a policy to identify, prevent and hedge uncertain risks & losses have been formulated; effective means of identifying, measuring and monitoring credit exposures incurred by the Company were also formulated. The Risk Management Committee was formed to formulate & supervise the implementation of this policy, to develop effective surveillance techniques, monitor the external Business environment etc.

Reconstitution of Risk Management Committee during the year under review took place in the following manner:

Sr. No. Name of the Member Designation
1. Manjeet Sanjay Mehta Member (Chairperson)
2. Sanjay Lalbahadur Upadhyay Member
3. Sudhir Thakre Member

Independent Directors Declaration:

The Independent Directors have given declarations that they meet the criteria of independence as per the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015.

During the year from 01.04.2020 to 31.03.2021 the Separate Meeting of Independent Directors met as on 23rd March, 2021.

The Board of Director declares that the Independent Directors in the opinion of the Board are:

a) Persons of integrity and they possess relevant expertise and experience;

b) Not a promoter of the Company or its holding, subsidiary or associate company;

c) Have/had no pecuniary relationship with the company, its holding, subsidiary or associate company or promoter or directors of the said companies during the two immediately preceding financial year or during the current financial year;

d) None of their relatives have or had pecuniary relationship or transactions with the company, its holding, subsidiary or associate company or promoter or directors of the said companies amounting to two percent or more of its gross turnover or total income or fifty lakh rupees whichever is lower during the two immediately preceding financial years or during the current financial year.

e) who, neither himself nor any of his relatives—

(i) holds or has held the position of a key managerial personnel or is or has been employee of the company or its holding, subsidiary or associate company in any of the three financial years immediately preceding the financial year in which he is proposed to be appointed;

(ii) is or has been an employee or proprietor or a partner, in any of the three financial years immediately preceding the financial year in which he is proposed to be appointed, of -

(A) a firm of auditors or company secretaries in practice or cost auditors of the company or its holding, subsidiary or associate company; or

(B) Any legal or a consulting firm that has or had any transaction with the company, its holding, subsidiary or associate company amounting to ten per cent. or more of the gross turnover of such firm;

(iii) Holds together with his relatives two percent. or more of the total voting power of the company; or is a Chief Executive or director, by whatever name called, of any nonprofit organization that receives twenty-five percent. or more of its receipts from the Company, any of its promoters, directors or its holding, subsidiary or associate company or that holds two per cent. or more of the total voting power of the company; or Possess such other qualifications as prescribed in Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014.

Evaluation By Independent Director:

In a separate meeting of Independent Directors held on 23rd March, 2021, performance of non- independent directors, performance of the Board as a whole and performance of the Chairman was evaluated.

Familiarization Program for Independent Directors

The Company has a detailed familiarization Program for 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 of the Company etc. The details of such Program are available on the web-link:

http://www.1gsp.in/

The Vigil Mechanism/ Whistle Blower Policy:

Your Company believes in promoting a fair, transparent, ethical and professional work environment. The Board of Directors of the Company has established a Whistle Blower Policy & Vigil Mechanism in accordance with the provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015 for reporting the genuine concerns or grievances or concerns of actual or suspected, fraud or violation of the Companys code of conduct. The said Mechanism is established for directors and employees to report their concerns. The policy provides the procedure and other details required to be known for the purpose of reporting such grievances or concerns.

The policy is available on the following web-link of the Company: http://www.1gsp.in/

CORPORATE GOVERNANCE REPORT

The paid up share capital of Company is below Rs. 10 crore and net worth is below Rs. 25 crore as per last audited balance sheet as on 31st March, 2021 and therefore, the compliance with the corporate governance provisions as specified in regulations 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, and clauses (b) to (i) of sub-regulation (2) of regulation 46 and para C, D, and E of schedule V of Securities And Exchange Board of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 as notified by Securities and Exchange Board of India vide notification No. SEBI/LAD-NRO/GN/2015-16/013 dated 2nd September, 2015 is not applicable to Company.

POLICIES AND PROCEDURES Risk Management Policy:

The Company has a robust Policy to identify, evaluate business risks and opportunities. This strategy seeks to create transparency, minimize adverse impact on the business objectives and enhance the Companys competitive advantage and helps in identifying risks trend, exposure and potential impact analysis at a Company level as also separately for different business segments.

Corporate Social Responsibility Policy:

The provision of Companies Act, 2013 regarding Corporate Social Responsibility was not attracted to the company for the financial year 2020-21.

The policy is available on the following web-link of the Company:

http://www.1gsp.in/

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO [SECTION 134 (3) (m) OF THE COMPANIES ACT, 2013:

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo etc. are furnished in "Annexure -I" which forms part of this Report.

OTHER STATUTORY DISCLOSURES Extract of Annual Return:

Pursuant to the provisions of Section 92(3) of the Act and Rule 12 (1) of the Companies (Management and Administration) Rules, 2014, the extract of Annual Return in form MGT 9 is annexed as "Annexure - II"

Disclosure of Remuneration paid to Director and Key Managerial Personnel and Employees:

The details with regard to payment of remuneration to Director and Key Managerial Personnel pursuant to Section 197(12) of Companies Act, 2013 is provided in separate annexure to the Report as "Annexure-III".

Remuneration to Employees:

None of the employee has received remuneration exceeding the limit as stated in rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Particulars of contracts or arrangements with related parties:

All Transactions/Contracts/Arrangements entered into by the Company with Related Party (ies) as provided under the provisions of Section 2(76) of the Companies Act, 2013, during the Financial Year under review were in ordinary course of business and on an Arms Length Basis.

Further, none of these Contracts / Arrangements / Transactions with Related Parties could be considered material in nature as per the thresholds given in Rule 15(3) of the Companies (Meetings of Board and its Powers) Rules, 2014 and hence no disclosure is required to be given in this regard. The details are disclosed in Form AOC-2 which is annexed as "Annexure-IV" to this report.

Particulars of Loan, Guarantee and Investments under Section 186 of the Act:

Pursuant to the provisions of Section 186 of the Companies Act, 2013, read with The Companies (Meetings of Board and its Powers) Rules, 2014 as amended from time to time (including any amendment thereto or re-enactment thereof for the time being in force), Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of Financial Statements provided in this Annual Report

Deposits:

The Company has not accepted any deposits from the public within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

Insurance:

The assets of your Company are adequately insured. Your Company has also taken out suitable cover for Public Liability.

Disclosures as per the Sexual Harassment of Women at Workplace (Prevention- Prohibition and Redressal) Act, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made there under for prevention and Redressal of complaints of sexual harassment at workplace. The objective of this policy is to lay clear guidelines and provide right direction in case of any reported incidence of sexual harassment across the Companys offices and take appropriate decision in resolving such issues.

During the financial year 2020-21, the Company has not received any compliant on sexual harassment.

The policy is available on the following web-link of the Company: http://www.1gsp.in/

Material changes and commitments affecting the Financial position of the Company:

During the period under review from April 01, 2020 to March 31, 2021, there were no material changes and commitments undertaken by the Company which affected the financial position of the Company.

Significant and material orders passed by the regulators or Courts or Tribunals impacting the going concern status and Companys Operations in Future:

As per the information available with the Board of Directors, there were no such orders passed against the Company.

Change in the Nature of Business

There is no change in Business during the year.

Change in Capital Structure

There is no change in capital structure of the company.

Internal Financial Control Systems and their adequacy

Internal Financial Controls are an integrated part of the risk management process, addressing financial and financial reporting risks. The internal financial controls have been documented, digitized and embedded in the business processes.

Assurance on the effectiveness of internal financial controls is obtained through management reviews, control self- assessment, continuous monitoring by functional experts as well as testing of the internal financial control systems by the internal auditors during the course of their audits.

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

Disclosure Under Section 43(A)(Ii) Of The Companies Act, 2013:

The Company has not issued any shares with differential rights and hence no information as per provisions of Section 43 (a) (ii) of the Act read with Rule 4 (4) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure Under Section 54(1)(D) Of The Companies Act, 2013

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54 (1) (d) of the Act read with Rule 8 (13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure Under Section 62(1)(B) Of The Companies Act, 2013

The Company has not issued any equity shares under Employees Stock Option Scheme during the year under review and hence no information as per provisions of Section 62 (1) (b) of the Act read with Rule 12 (9) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure Under Section 67(3) Of The Companies Act, 2013

During the year under review, there were no instances of non-exercising of voting rights in respect of shares purchased directly by employees under a scheme pursuant to Section 67 (3) of the Act read with Rule 16 (4) of Companies (Share Capital and Debentures) Rules, 2014 is furnished.

Impact of Covid-19

The country witnessed lockdown being implemented in India the first quarter of Financial Year 2020-21. There were also restrictions of varying extent across larger part of the world, due to the COVID-19 pandemic. This impacted the business operations of the Company significantly. The Company started resuming operations in its manufacturing plants and warehouses after taking requisite permissions from Government authorities. Standing by its core commitment, the Company is navigating through these unprecedented times by building stronger and deeper relationships with consumers and its partners. The Company is supporting various Government Initiatives and helping communities around to fight the pandemic. Detailed information on the same has been included under the Management Discussion & Analysis report forming part of this Annual Report.

Management Discussion And Analysis:

The Management Discussion and Analysis Report on the operations of the Company as required pursuant to Part B of Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed hereto and marked as Annexure - V and forms part of this Report.

Secretarial Standards of ICSI

Your Company is in compliance with the Secretarial Standards on Meetings of the Board of Directors (SS - 1) and General Meetings (SS - 2) issued by The Institute of Company Secretaries of India and approved by the Central Government.

Industrial Relations

The relationship with the workmen and staff remained cordial and harmonious during the year and the management received full cooperation from the employees. The Company continues to focus on extensive training and developmental activities and efficiency and quality improvement initiatives.

AUDITORS

Statutory Auditors:

The Auditors report given by M/s. Shah Mehta & Bakshi, Statutory Auditors, on the Financial Statements of your Company, for the year ended March 31, 2021, forms part of the Annual Report. There is no qualification, reservation or adverse remark or any disclaimer in their Report.

In accordance with the Section 40 of the Companies (Amendment) Act, 2017 (corresponding to Section 139 of the Act), the requirement of ratification of the appointment of the Statutory Auditor in every Annual General Meeting of the Company during the tenure of appointment has been dispensed with. Hence, the matter has been placed as an agenda item in the AGM Notice for the approval of the shareholders.

M/s. Sunil Dad and Co., Chartered Accountants (Firm Registration No. 126741W) have been appointed as the Statutory Auditors of your Company with effect from 24th April, 2021 through Postal Ballot.

Auditors Observations and Directors Comments:

The auditors report does not contain any qualifications, reservation or adverse remarks.

Details in Respect of frauds reported by the Auditors under Section 143(12) of Companies Act, 2013:

There are no frauds reported by the Auditor which are required to be disclosed under Section 143(12) of Companies Act, 2013.

Secretarial Auditor:

The Company has appointed M/s. KH and Associates, Practicing Company Secretaries, as a Secretarial Auditor of the Company, according to the provision of Section 204 of the Companies Act, 2013 read with Companies Rules for the purpose of conducting Secretarial Audit of Company for the Financial year 2020-21. The Report of the Secretarial Audit is annexed herewith as Annexure VI.

Pursuant to section 134(3)(e) and all other relevant provisions of the Companies Act, following are the remarks of the Board on the qualification observed by the Secretarial Auditor by the Company.

S.No Particulars of Observation Explanation by Board
1. Website The new link for the website is http: //www. 1gsp.in/
2. Name change updated Company has changed its name from OVERSEAS SYNTHETICS LIMITED to ONE GLOBAL SERVICE PROVIDER LIMITED and it is updated in the records of the Registrar of companies and stock exchange.
3. Constitution of Board of Directors Constitution of Board of Directors complied with the regulations.

Internal Audit and Internal Control Systems:

The Company has an internal control system, commensurate with the size, scale and complexity of its operations. This ensures that all transactions are authorized, recorded and reported correctly, and assets are safeguarded and protected against loss from unauthorized use or disposition. The Company has adequate internal controls for its business processes across departments to ensure efficient operations, compliance with internal policies, applicable laws and regulations, protection of resources and assets and appropriate reporting of financial transactions.

The Company has Internal Audit function which is empowered to examine the adequacy and compliance with policies, plans and statutory requirements. It comprises of experienced professionals who conduct regular audits across the Companys operations. The Company has also appointed a firm of Chartered Accountants as Internal Auditors, who reviews the various functions of the Company thoroughly and report to the Audit Committee. During the year under review, the Risk Management Committee of the Company had reviewed the new requirement of Internal Control over Financial Reporting ("ICOFR") and finalized the detailed analysis of key processes, and these were presented for review by the Statutory Auditors. The control mechanism and the process of testing of controls were discussed with the Statutory Auditors. The Statutory Auditors have submitted their report on the Internal Financial Controls which forms an integral part of this Report.

The adequacy of the same has been reported by the Statutory Auditors of your Company in their report as required under the Companies (Auditors Report) Order, 2003.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading pursuant to new SEBI (Prohibition & Insider Trading) Regulation 2015 in place of SEBI (Prohibition & Insider Trading) Regulation 1992 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 Company‘s 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 Directors and the designated employees have confirmed compliance with the Code.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134 (5) of the Companies Act, 2013, your Directors, to the best of their knowledge and belief and according to information and explanation obtained by them, confirm that:

(a) In the preparation of the annual accounts for the year ended on 31st March 2021, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) The Directors 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 at the end of the financial year and of the profit and loss of the company for that period;

(c) The Directors had 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 had prepared the annual accounts on a going concern basis; and

(e) The Directors had laid down Internal Financial Controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

ACKNOWLEDGEMENTS:

The Board of Directors are grateful for the co-operation and support from the Bankers, clients and other business partners. The Board takes this opportunity to express their sincere appreciation for the excellent patronage, total commitment, dedicated efforts of the executives and employees of the Company at all levels.

Your Directors would like to express their gratitude to the Members and are deeply grateful to them for reposing their confidence and faith in the Company.

The Directors wish to place on record their sincere appreciation of the valuable services rendered by the employees to the Company.

APPRECIATION

The Directors wish to convey their appreciation to all of the Companys employees for their enormous personal efforts as well as their collective contribution to the Companys performance. The Directors would also like to thank the shareholders, customers, dealers, suppliers, bankers, Government and all the other business associates for the continuous support given by them to the Company and their confidence in its management.

For and on behalf of the Board of Directors of
One Global Service Provider Limited
(Formerly Known as Overseas Synthetics Limited)
SD/-
Vijay Nanaji Dhawangale
Managing Director
DIN:01563661
Date: 07th September, 2021
Place: Mumbai