SecureKloud Technologies Ltd Directors Report.

Your Directors have pleasure in presenting the Thirty Fifth Annual Report together with the audited accounts of the Company for the year ended March 31, 2020

Financial Performance

The Financial performance of the Company for the year ended 31st March 2020 & 31st March 2019 is summarized below.

(Rs. in Lakhs)

Particulars

Consolidated

Standalone

FY 20 FY 19 FY 20 FY 19
Revenue from Operations 38,208.48 84,219.15 4,245.67 5,694.44
Earnings Before Interest & Depreciation (2,418.05) 17,765.20 438.04 2,366.76
Interest 1,302.65 1,162.49 920.21 969.66
Depreciation and Amortization 957.45 6,959.83 31.85 34.05
Profit Before Tax (PBT) before exceptional item (4,678.15) 9,642.88 (514.02) 1,363.05
* Exceptional Item (62,493.95) - (18.41) -
Profit Before Tax (PBT) after exceptional item (67,172.10) 9,642.88 (532.43) 1,363.05
Profit After Tax (PAT) before Minority Interest (67,451.16) 7,982.49 (525.25) 973.21
Profit After Tax (PAT) after Minority Interest (50,178.22) 6,871.77 (525.25) 973.23

* The Company carried out evaluation of all internally developed software (tools, frameworks and platforms) and based on the recommendation of technical experts we have written off Rs 52,064.55 Lacs from Intangibles. In addition, an advance of Rs 4,505.80 Lacs made in the financial year 2017-18 towards an acquisition and Rs 5,923.60 Lacs of other receivables have been written off as unrecoverable due to unforeseen economic conditions caused by COVID-19. The profits for year was lower by Rs 62,493.95 Lacs on account of these one-time transactions.

Share Capital:

Your Company has only one class of share - equity shares of par value Rs.5 each. The authorized share capital as at March 31, 2020 was Rs.3,000 Lakhs divided into 600 Lakhs Equity shares of Rs.5 each. The paid-up share capital as at March 31, 2020 was Rs.1,525.88 lakhs divided into 3,05,17,605 equity shares of Rs.5 each.

Operations:

The financial year 2019-20 has been a year of opportunities and challenges for your company as we embarked on a transformational journey with a sharp focus to enhance the depth of relationship with our existing customers, acquire new direct customers while disengaging from intermediaries. While the immediate impact of this strategy is reduced revenue, we believe our overall financials in terms of revenue, profitability and cashflow will improve substantially in the future. This is evidenced by revenue growth in our key customers and new direct customer acquisition gaining momentum.

While the customers have continued to place their confidence in your company, there have been some challenges faced by your company during this year. One of the biggest challenges is the increased number of US H-1B visa rejections. There is a significant drop in US H-1B visa approvals and the rejections rate stood at 32% in FY 2019 compared to 6% in the year 2015 and that is only increasing rapidly. This immigration issue has directly impacted us in executing several projects, loss of opportunities,

increase in staff expenses due to hiring of more contractors and local employees thereby contributing to lesser revenue and margin. However, this is being mitigated by effectively transfering the work to our facilities in Chennai. Further, we expect the visa situation to improve in the coming years ensuring accelerated growth.

In order to provide enhanced focus to Healthcare, Pharma/Life Sciences customers, we launched a fully owned subsidiary Healthcare Triangle Inc.,(HTI) that has been welcomed by all our existing customers/ prospects.

HTI is established to bring together People, Process and Technology to create transformational business capabilities for our customers.

Impact of COVID-19

The outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. In many countries, businesses are being forced to cease or limit their operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. In the US, where the majority of 8K Miless business is from, the slowdown of economy started happening from February 2020 onwards.

This resulted in delays in getting new projects as customers/prospects are uncertain of their business at this time. Additionally, customers have started asking for discounts impacting our profitability. On the positive side, we have more companies moving on to the cloud because of issues related to COVID-19 presenting us with opportunities. In short, we assess the short-term impact of COVID-19 to be reduced revenue while on the longer term more and more companies will start moving to cloud thereby ensuring steady growth for 8K Miles.

On the positive side - Governments have responded with a $10 Trillion economic revival package. IT industry and Cloud Adoption are expected to accelerate in the next five years. Equally important is that pharma and life-science industries are attracting a lot of investment during this time and their spending in public cloud infrastructure is growing significantly as evidenced in increased business from some of our existing pharma customers. Given all this, we are confident that we are well positioned to grow in the coming years.

Outlook

While there have been challenges that have immediate impact this year, your company has a sound and robust strategy in place for the future that will ensure we stay in the forefront of technology and ahead of our competition, enhancing our depth of engagement with our customers, acquire new direct customers and improve our profitability from operations and we have already started seeing the results of this strategy.

Your company will see growth and profitability in the coming years for the following reasons:

1. Sharp focus on deepening relationship with existing customers and new customer acquisition.

2. The IT spend in Public cloud infrastructure (the space your company is in) is likely to increase many-fold due to COVID-19 related issues and we are well positioned to be part of the growth

3. Continuous focus on innovation, technology, domain and platform centric approach will continue to differentiate us in the marketplace ensuring we are the partner of choice for our customers

4. Huge investments are happening in pharma/life- science/healthcare industries - the domain focus of your company - due to COVID-19 pandemic

5. Investments by your company in Centre of Excellence to nurture and build solutions on the current technology trend to stay ahead of competition

6. Explosion of data -both structured and unstructured- requiring large cloud usage. Organizations are looking to engage with

partners who understand their domain (pharma/life-science/healthcare) have deep technology expertise in Cloud and data related technologies. With DataEz platform, your company is ideally positioned to participate in this growth

Your company will continue to stay focused on bringing world class compliance, security, cloud infrastructure provisioning, data governance, data management, advanced analytics and data asset development services and solutions, while at the same time bringing new and simplified services to the market that will help connect the stakeholders in the healthcare and life sciences ecosystem. Our advisory and consulting services will also be available to help connect the ecosystem, including data centric services that extend across traditional boundaries and help fuel interactions between providers and life sciences companies.

Dividend

Your company is exploring new business opportunities therefore it is necessary to conserve the funds to meet these investment opportunities. Thus, your Board has not recommended any dividend for the financial year 2019-20.

Transfer of Unclaimed Dividend to Investor Education and Protection Fund

There was no amount required to be transferred to Investor Education and Protection Fund during the year 2019-20.

Transfer to Reserves

Your Company does not propose to transfer any amounts to the general reserve during the current financial year.

Public Deposits

Your Company has not accepted any deposits within the meaning of provisions of Chapter V of the Act read with the Companies (Acceptance of Deposits) Rules, 2014 for the year ended March 31, 2020.

Material changes and commitment if any affecting the financial position of the company

There are no material changes and commitments affecting the financial position of the Company between the end of financial year and the date of signing this report.

Particulars of Loans, Guarantees or Investments

Loans, guarantees and investments covered under Section 186 of the Act form part of the notes to the financial statements provided in this Annual Report.

Board and Committee Meetings

The Board met seven times during the Financial Year

2019-20. The details regarding the board meetings and committee meetings are given separately in the Corporate Governance Report as Annexure-IV to this report. The gap intervening between two meetings of the board is within the stipulated time frame prescribed in the Companies Act, 2013 and SEBI (lODR) Regulations, 2015.

Separate Meeting of Independent Directors

During the year, a separate meeting of Independent Directors was held on 30th March,2020. The Independent Directors present for the meeting actively participated and provided guidance to the Company in all its spheres.

Corporate Governance Report

Pursuant to Regulation 34 (3) and Schedule V of SEBI (LODR) Regulations, 2015 the Corporate Governance Report forms an integral part of this Report.

A detailed report on Corporate Governance is available as a separate section in this Annual Report as Annexure-IV to this report.

A Certificate from the Practicing Company Secretary regarding compliance with the requirements of Corporate Governance attached as Annexure-IV to this report as stipulated in SEBI (LODR) Regulations, 2015.

The Certificate by Chief Executive Officer & Chief Financial officer as required under the SEBI Listing Regulations is attached in Annexure-V to this report.

Subsidiary Companies

1. 8K Miles Software Services Inc. USA

(i) Nexage Technologies Inc. USA

(ii) Cornerstone Advisors Group LLC. USA

(iii) Healthcare Triangle Inc. USA (incorporated on October 29, 2019)

2. 8K Miles Software Services FZE. UAE ceased w.e.f February 29- 2020

3. 8K Miles Health Cloud Inc. USA (i) Serj Solutions Inc. USA

4. Mentor Minds Solutions and Services Inc. USA

5. Healthcare Triangle Private Limited (incorporated on January 14, 2020)

A statement under Section 129 (3) of the Companies Act, 2013 in Form AOC-1 is attached as Annexure- VII to the Directors Report.

Consolidated Accounts

The Consolidated financial statements of the Company are prepared in accordance with the provisions of Section 129 of Companies Act, 2013 read with Companies (Accounts) Rules, 2014 and Regulation 33 of SEBI (LODR) Regulations, 2015.

The audited consolidated financial statements together with Auditors report forms part of the Annual report.

Conservation of Energy

a. Company ensures that the operations are conducted in the manner whereby optimum utilisation and maximum possible savings of energy is achieved.

b. No specific investment has been made in reduction in energy consumption

c. As the impact of measures taken for conservation and optimum utilisation of energy are not quantitative, its impact on cost cannot be stated accurately.

Technology Absorption:

a. We are continuing to invest on our platform/ framework such as CloudEz, EzIAM, IAM, MFA, DataEz and DocuRoute for handling Healthcare records received through fax.

b. We will continue to enhance our platform and framework to stay competitive and ensure that the first mover advantage is not only maintained but enhanced through our domaincentric, platform-based cloud transformation offering and is very much sought after by our customers

c. In order to stay aligned with technology trend, your company has invested in AI/ML and NLP technologies and are already executing projects in this domain.

d. Additionally, we have established Centre of Excellence for Blockchain and related technologies to explore opportunities in this rapidly growing technology.

Particulars (Rs.in Lakhs) FY 2019-20
Earnings in Foreign Exchange 2,320.03
Foreign Exchange Outflow 0.21

Internal Financial Controls

In accordance with Section 134(5)(e) of the Companies Act, 2013, the Company has implemented Internal Financial Controls by means of Policies and Procedures which are commensurate with the size and nature of its operations and pertaining to financial reporting. The Audit Committee as part of its roles prescribed in Regulation 18 read with Part C of Schedule II of SEBI LODR Regulations, 2015 have evaluated the internal financial controls and risk management systems. In accordance with Rule 8(5)(viii) of Companies (Accounts) Rules, 2014, it is hereby confirmed that the Internal Financials Controls are adequate with reference to the financial statements.

Other Laws:

Disclosure as required under Section 22 of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company has in place a Policy on Prevention of Sexual Harassment (POSH) in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Frequent communication of this policy is done in assimilation programs and at regular intervals.

Pursuant to Rule 8(5) (x) of Companies Act (Accounts) Rules, 2014, the Company has complied with the provisions relating to the constitution of Internal Complaints Committee. During the year under review there were no complaints received the Committee.

Directors and Key Managerial Personnel

Directors

Appointments and Resignations/Retirement/ Cessations:

1. During the year, Mr. Raghunathan Aravamuthan was appointed as an Additional Director under Independent category on September 6, 2019 and

2. During the year, Mr. Desikan Balaji was appointed as and additional director under Independent category subsequently approved by shareholders through postal ballot (results of which were declared on January 31, 2020) appointed him as an Independent Director of the Company with effect from December 20, 2019. The AGM notice includes a proposal for regularization of his appointment as a Non-Executive Independent Director.

Resignations/Retirements/Cessations:

1. Mr. Raghunathan Aravamuthan, Additional Director under Independent category ceased to act as Director of the Company from November 30, 2019 since his regularisation appointment was not approved by the shareholders at the Annual General Meeting.

2. Mr. Gurumurthi Jayaraman, Non-Executive NonIndependent Director of the Company resigned on October 23, 2019 and the same was taken note by Board on November 02, 2019.

3. Mr. R.S. Ramani, Non-Executive Non-Independent Director of the Company resigned on November 02, 2019 and the same was taken note by Board.

4. Mr. Vivek Prakash Director of the Company resigned on December 20, 2019 and the same was taken note by the Board.

Key Managerial Personnel:

Pursuant to the provisions of section 203 of the Act read with the rules made there under, the following employees were/are the whole-time key managerial personnel of the company during FY 2019-20

Mr. Suresh Venkatachari, Managing Director Mr. Swasti Bhowmick, Chief Financial Officer Ms. Diya Venkatesan, Company Secretary

Changes after March 31, 2020 until the date of the Report:

Resignation:

Mr. Suresh Venkatachari, Resigned as the Managing Director on August 24, 2020

Mr. Swasti Bhowmick, Chief Financial Officer - Resigned on April 30, 2020

Ms. Diya Venkatesan, Company Secretary - Resigned on July 01, 2020

Appointments:

Mr. Suresh Venkatachari appointed as Chief Executive Officer (CEO) of the Company on August 31, 2020

Mr. R. Thyagarajan appointed as the Chief Financial Officer on July 01, 2020

Mr. G. Sri Vignesh appointed as the Company Secretary on July 01, 2020.

Mr. S. Ravichandran appointed as the Additional and Whole-time Director of the Company on July 30, 2020 subject to the approval of the shareholders at the ensuing Annual General Meeting.

Particulars of Employees

In accordance with section 136 of the Act, the report and accounts are being sent to the members and others entitled thereto. The statement prescribed under rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is available for inspection. If any member is interested in obtaining a copy, such member may send an e-mail to the company secretary in this regard. The information relating to employees and other particulars required under Section 197 of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 will be provided upon request. In terms of Section 136 of the Companies Act, 2013, the Report and Accounts are being sent to the Members, excluding the information on employees, particulars of which are available for inspection by the Members at the Registered Office of the Company during the business hours on all working

days of the Company upto the date of the forthcoming Annual General Meeting. If any member is interested in obtaining a copy thereof, such Member may write to the Company Secretary in this regard.

The disclosure pertaining to the remuneration and other details as required under Section 197(12) of the Act and the Rules framed thereunder is enclosed as Annexure- III to the Boards Report.

Statutory Auditors

During the year Deloitte Haskins & Sells, Chartered Accountants (DHS) resigned effective November 15, 2019. The Audit Committee and the Board of Directors of the Company have recommended the appointment of M/s. K. Gopal Rao & Co., Chartered Accountants (KGR) as the Statutory Auditors of the Company to fill the casual vacancy caused by resignation of DHS at their meeting held on December 6, 2019. The Members

through Postal Ballot the results of which were declared on January 31, 2020 approved the appointment of M/s K Gopal Rao & Co (Firm Registration No.000956S), Chartered Accountants as Statutory Auditors of your Company to hold office until the conclusion of ensuing AGM. The Audit Committee and Board of Directors have considered and recommended the appointment of KGR at the ensuing AGM to hold office from the conclusion of this Annual General Meeting till the conclusion of 40th Annual General Meeting to held in the year 2025. M/s. K Gopal Rao & Co have consented and confirmed to the said appointment, if made would be within the limits mentioned under the provisions of Section 141 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014.

The Auditors have confirmed that they have subjected themselves to the peer review process of institute of Chartered Accountants of India (‘ICAI) and hold valid certificate issued by the Peer Review Board of the ICAI.

The Audit report is forming part of the financial statements and the Management response is as follows for the Qualifications made by the Statutory Auditors

S.NO Observations Response
1. We draw your attention to last years audit observation on long outstanding receivables from overseas customers amounting to Rs 3,464.01 Lacs (31 March 2019) and corresponding technical services payable to overseas vendor of Rs 1,709.20 Lacs. The receivables amounting to Rs 1,709.20 Lacs has been assigned to the vendor based on the assignment agreement between the Company and the Vendor. The residual balance of Rs 1,754.81 Lacs has been written-off to the Profit & Loss account. The Company has made an intimation to the AD banker as required by RBI master circular and is subject to the approval of the RBI. The Company is of the opinion that there is no Goods and Service Tax applicability on the above transaction as the services have been availed and rendered outside India. Profits for the current year have been impacted to this extent due to the above. We have made an intimation to the AD banker as required by RBI master circular and is subject to the approval of the RBI. We are of the opinion that the Goods and Service Tax is not applicable on the above transaction as the services have been availed and rendered outside India. Further, this is a regulatory issue and the outcome of it cannot be estimated as of date of the signing of this report and the Company doesnt expect any material impact on the financial statements in future.
2. The Company had Trade and Other Receivables aggregating to Rs 3,309.10 Lacs as at 31 March 2019 due from 8K Software Services Inc., an Overseas Subsidiary. Subsequently, an amount of Rs.1,124.53 Lacs has been collected (Rs.782.27 Lacs till 31st March 2020 and Rs.342.26 Lacs from April 1, 2020 till June 30, 2020. The AD banker has been intimated about the delay in collecting the outstanding beyond 12 months. Further, the Subsidiary Company has confirmed the outstanding balances as of 31st March 2020. The interest burden suffered due to continued delay in realization of receivables is estimated at Rs 288.47 lacs. We have made an intimation to the AD banker about the delay in collecting invoices that are outstanding beyond 12 months. An amount of Rs 1,124.53 Lacs has been collected from the customer from April 1, 2019 till June 30, 2020. (Rs 782.27 Lacs till 31 March 2020 and Rs 342.26 Lacs from April 1, 2020 till June 30, 2020). The interest burden is due to delay in realization of receivables, also the management has taken steps / measures to ensure the timely realization of receivables from customers and avoid such instances going forward.

Secretarial Auditors

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 re-appointed M/s. P Sriram & Associates, Practicing Company Secretaries to undertake the Secretarial Audit of the Company for the year ended March 31, 2020

The Secretarial Audit report forms part of the Annual Report attached as Annexure-I to this report and the Management response is as follows for the Qualifications made by the Secretarial Auditors:

S. No Observations Response
1 The Company had delayed in Compliance of Regulation 33 (3) (d) & (e) of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 relating to reporting of Financial Results within 60 days for the Quarter and Year ended March 31, 2019. The Company has taken appropriate steps and has put in place controls to avoid any such delays. The Company has complied with these timelines for the year ended March 31, 2020
2 The Company had delayed in Compliance of Regulation 33 (3) (a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 relating to reporting of Financial Results within 45 days for the Quarter ended June 2019. The Company has taken appropriate steps and has put in place controls to avoid any such delays. The Company has complied with these timelines for the year ended 2019-20
3 The Company had re-appointed the Managing Director of the Company on September 30, 2017 who is a Nonresident Indian and which requires the approval of the Central Government. During the year under review, the Company had made an application seeking the approval of the Central Government in this regard, however the same was rejected. The company is yet to make a fresh application for the same, thereby has not complied with Section 203 of the Companies Act, 2013. Mr. Suresh Venkatachari has resigned as the Managing Director on August 24, 2020. Further he was appointed as Chief Executive Office (CEO) on August 31, 2020 in compliance with the Companies Act 2013.

Extract of Annual Return

Pursuant to Section 92(3) of Companies Act, 2013 an extract of Annual Return in form MGT 9 as on 31st March 2020 is attached as Annexure-II to this report.

Related Party Transactions

During the Financial Year ended 31st March 2020, all the contracts or arrangements or transactions entered into by the Company with the Related Parties were in the ordinary course of business and on an arms length basis and were in compliance with the applicable provisions of the Companies Act 2013 and the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

We hereby affirm that there were no materially significant related party transactions with promoters, Directors, Key Managerial Personnel or other designated persons, which may have a potential conflict with the interest of the Company at large.

Further the Company has not entered into any contract or arrangement or transaction with the Related Parties which could be considered material in accordance with the Policy of the Company on materiality of Related Party Transactions.

The details of the transactions with related parties are provided in the financial statements. Policy on Related Party transactions are available in the website.

https://8kmiles.com/Investor/Policies/

PolicyonRelatedpartytransactions.pdf

The details of the related party transactions as required under the Companies Act, 2013 and rules made thereunder are attached in Form AOC-2 as Annexure VI.

Corporate Social Responsibility Initiatives

Corporate Social Responsibility (CSR) activities have been embedded in the value system of the Company. The Company continues to be actively engaged in CSR initiatives for development of the society through partnerships and continued to focus on to helping lesser privileged communities in areas like education, health & hygiene, culture & heritage and actively participated in other welfare projects.

The Company inadvertently determined that the CSR Expenditure is applicable for FY 2018-19, however, based on the computation made under Sec.198 of the Companies, the CSR spending is not applicable for the FY 2018-19 and 2019-20.

Code of Business Conduct and Ethics

The Board of Directors has approved a Code of Conduct and Ethics in terms of Schedule IV of Companies Act, 2013 and Listing Regulations. All the Board Members and the Senior Management personnel have confirmed compliance with the Code for the year ended March 31, 2020. The annual report contains a declaration to this effect signed by the CEO.

Vigil Mechanism / Whistle Blower Policy

Pursuant to the provisions of Section 177(9) of the Act read with Rule 7 of the Companies (Meetings of Board and its powers) Rules, 2014 and Regulation 22 of the SEBI Listing Regulations, the Companys vigil mechanism allows Directors and employees to report their concerns anonymously about unethical behavior, actual/suspected fraud, violation of Code of Conduct/ business ethics. The vigil mechanism provides adequate safeguards against victimization of directors and employees, who avail this mechanism. The Company has established a Whistle Blower Policy and the same is hosted on the website of the Company.

Your Company hereby affirms that no Director / Employee has been denied access to the Chairman of the Audit Committee and that no complaints were received during the year.

https://8kmiles.com/Investor/Policies/

WhistleBlowerPolicy.pdf

Details of Significant and Material orders passed by the Regulators or Courts or tribunals.

There are no significant material orders passed by the regulators or courts or tribunals which would impact the going concern status of the Company.

Cost Records and Cost Audit

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Companies Act, 2013 are not applicable for the business activities carried out by the Company.

Risk Management

The Company implemented a risk management policy and has in place a mechanism to inform the Board Members about risk assessment and minimization procedures and periodical review to ensure that risks are controlled by the framework.

Evaluation of Boards Performance

The performance of the Board was evaluated after seeking inputs from all the directors. The board has carried out an evaluation of its own performance, Committees as a whole, Managing Director of the Board, Independent and Non-Independent Directors and that of its directors individually. The manner in which the evaluation has been carried out is explained in the Corporate Governance Report. A detailed note on the composition of the Board and its committees are provided in the Corporate Governance Report Annexure IV.

Reporting of Fraud

For the financial year ended March 31, 2020, neither the statutory auditors nor the secretarial auditors have reported any instances of fraud committed against the Company by its officers or employees as specified under Section 143(12) of the Companies Act, 2013.

Directors Responsibility Statement

In terms of Section 134 (5) of the Companies Act, 2013, the Board of directors, to the best of their knowledge and ability, confirm:

i) That in the preparation of the annual accounts for the financial year ended 31st March 2020, the applicable accounting standards had been followed and that there were no material departures;

ii) The directors have selected such accounting policies and applied them consistently and

made judgments and estimates that were 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 31st March 2020 and of the profit or loss of the Company for the year under review;

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 for preventing and detecting fraud and other irregularities

iv) The directors had prepared the annual accounts on a going concern basis.

v) 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; and

vi) The directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively

Secretarial Standards

The Company has complied with the applicable Secretarial Standards SS-1 on meetings of Board of Directors and SS-2 on General Meeting issued by the Institute of Company Secretaries of India as per Section 118(10) of the Companies Act, 2013.

Acknowledgment and Appreciation

The Directors wish to place on record their appreciation for the committed service of all employees at all levels.

The Directors take this opportunity to thank the Shareholders, Financial Institutions, Vendors, Banks, Customers, Suppliers and Regulatory & Governmental Authorities for their continued support to the Company.

For and on behalf of the Board of Directors 8K Miles Software Services Limited

Suresh Venkatachari
Place : Chennai Chairman & CEO
Date: August 31, 2020 DIN: 00365522