Thakkers Group Ltd Directors Report

b. Operations And Prospects:

During the financial year under review, the Company continued to focus on its core business segments comprising hospitality, real estate development and construction activities. The management remained committed to enhancing operational efficiencies, strengthening stakeholder relationships and exploring opportunities for sustainable growth across its business verticals. The Company continued to pursue its business objectives with a disciplined approach while adapting to changing market conditions and regulatory developments.

The Directors are optimistic about the long-term prospects of the Company. Backed by its established presence, industry experience and strong business fundamentals, the Company is well positioned to capitalize on emerging opportunities in the hospitality and real estate sectors. The management continues to focus on prudent financial management, operational excellence and sustainable value creation for shareholders and other stakeholders.

c. Dividend:

In order to conserve financial resources for business operations, future growth opportunities and strengthening the Companys financial position, the Board of Directors has not recommended any dividend for the financial year ended March 31, 2026.

d. Unpaid Dividend & IEPF:

Pursuant to the provisions of Sections 124 and 125 of the Companies Act, 2013, there was no amount required to be transferred by the Company to the Investor Education and Protection Fund (IEPF) during the year under review. Since the Company has not declared any dividend during the preceding seven years, no amount remained outstanding in the Unpaid Dividend Account as on March 31, 2026.

e. Transfer To Reserves:

The Board of Directors has transferred amount of Rs. 230.90 Lakhs the General Reserve for the financial year ended March 31, 2026.

f. Report On Performance Of Subsidiaries, Associates And Joint Venture Companies:

During the financial year under review, the Company did not have any subsidiary, associate or joint venture company within the meaning of the Companies Act, 2013. Accordingly, the requirement to provide a report on the performance and financial position of subsidiaries, associates and joint venture companies, as prescribed under the applicable provisions of the Act and the Rules made thereunder, is not applicable.

g. Deposits:

During the year under review, the Company has neither accepted nor renewed any deposits from the public falling within the ambit of Sections 73 to 76 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014. Accordingly, no amount of principal or interest was outstanding as on March 31, 2026 in respect of public deposits.

The Company has complied with the applicable provisions of the Companies Act, 2013 relating to deposits and there were no deposits which were not in compliance with the requirements of Chapter V of the Act.

h. Particular Of Contracts Or Arrangement With Related Parties:

All Related Party Transactions entered into by the Company during the financial year under review were in the ordinary course of business and on an arms length basis. There were no materially significant Related Party Transactions entered into by the Company with its Promoters, Directors, Key Managerial Personnel or other related parties which could have had a potential conflict with the interests of the Company.

All Related Party Transactions were placed before the Audit Committee for its review and approval in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company has adopted a Policy on Materiality of Related Party Transactions and dealing with Related Party Transactions, which is available on the website of the Company.

Since all Related Party Transactions entered into during the year were on an arms length basis and in the ordinary course of business, disclosure in Form AOC-2 pursuant to Section 134(3)(h) read with Section 188(1) of the Companies Act, 2013 is not applicable to the Company. The details of Related Party Transactions as required under the applicable Indian Accounting Standards (Ind AS) are disclosed in the Notes forming part of the Financial Statements.

i. Conservation Of Energy, Technology Absorption And Foreign Exchange Earnings And Outgo:

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 II which forms part of this Report.

j. Corporate Governance And Management Discussion And Analysis Report:

As required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a separate Report on Corporate Governance pursuant to Regulations 17 to 27, Clauses (b) to (i) and (t) of Regulation 46(2) and Schedule V of the SEBI Listing Regulations, together with the Certificate from the Practicing Company Secretary regarding compliance with the conditions of Corporate Governance, forms part of this Annual Report as Annexure – III.

In accordance with Regulation 34 read with Schedule V of the SEBI Listing Regulations, the Management Discussion and Analysis Report for the financial year under review is annexed hereto as Annexure – IV and forms an integral part of this Annual Report.

k. Annual Return:

Pursuant to the provisions of Sections 92(3) and 134(3)(a) of the Companies Act, 2013, the draft Annual Return of the Company as on March 31, 2026 is available on the website of the Company and can be accessed at the following web link: www.thakkersgroup.com

l. Particulars Of Investments, Loans, Guarantees And Securities:

The particulars of loans, guarantees, securities and investments covered under the provisions of Section 186 of the Companies Act, 2013, wherever applicable, are disclosed in the Notes forming part of the Financial Statements.

m. Disclosures Under Section 134(3)(L) of the Companies Act, 2013:

Pursuant to Section 134(3)(l) of the Companies Act, 2013, except as disclosed elsewhere in this Annual Report, there have been no material changes or commitments affecting the financial position of the Company which have occurred between the end of the financial year to which the Financial Statements relate and the date of this Report.

n. Disclosure Of Internal Financial Controls:

The Company has in place adequate Internal Financial Controls commensurate with the size, scale and complexity of its operations. The Internal Financial Control framework has been designed to provide reasonable assurance regarding the reliability of financial reporting, the preparation of Financial Statements in accordance with applicable accounting standards, safeguarding of assets, prevention and detection of frauds and errors, and compliance with applicable laws and regulations.

The effectiveness of the Internal Financial Controls is periodically reviewed by the Management, Internal Auditors and the Audit Committee. During the financial year under review, no material weakness, significant deficiency or reportable inadequacy in the design or operation of the Internal Financial Controls was observed. The Statutory Auditors have also expressed their opinion on the adequacy and operating effectiveness of the Internal Financial Controls over financial reporting as required under the Companies Act, 2013.

2. Matters Related To Directors And Key Managerial Personnel:

a.Board Of Directors & Key Managerial Personnel

During the Financial Year, The panel of independent director had resigned and new panel of independent director were appointed at Annual general meeting which held on 30th September, 2025

i. Retirement by rotation

In accordance with the provisions of the Act, none of the Independent Directors are liable to retire by rotation.

As per the provisions of Section 152 of the Companies Act, 2013, Mr. Chetan Giridharlal Batavia is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, has offered himself for re-appointment. The Board of Directors recommends the re-appointment of Mr. Chetan Giridharlal Batavia as Director of the Company. The detailed profile of Mr. Chetan Giridharlal Batavia, recommended for re-appointment is mentioned in the Notice for the AGM in pursuance to Secretarial Standards-2 and Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

b. Declarations By Independent Directors:

The Company has received the following declarations from all the Independent Directors confirming that:

They meet the criteria of independence as prescribed under the provisions of the Act, read with the Schedules and Rules issued thereunder, as well as of Regulation 16 of the Listing Regulations.

In terms of Rule 6(3) of the Companies (Appointment and Qualification of Directors) Rules, 2014, they have registered themselves with the Independent Directors database maintained by the Indian Institute of Corporate Affairs, Manesar.

In terms of Regulation 25(8) of the Listing Regulations, they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties.

In terms of Regulation 25(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors has ensured the veracity of the disclosures made under Regulation 25(8) by the Independent Directors of the Company. The Board is of the opinion that the Independent Director appointed during the year possesses the requisite integrity, expertise, experience and proficiency and fulfils the conditions of independence as prescribed under the Companies Act, 2013 and the SEBI Listing Regulations.

None of the Directors of the Company are disqualified for being appointed as Directors as specified in Section 164(2) of the Companies Act, 2013 and Rule 14(1) of the Companies (Appointment and qualification of Directors) Rules, 2014.

3. Disclosures Related To Board, Committees And Policies:

a. Board Meetings:

The Board of Directors met five times during the financial year ended 31st March, 2026 in accordance with the provisions of the Companies Act, 2013 and rules made thereunder.

The details of the meetings of the Board and its Committees held during the year under review are stated in the Corporate Governance Report Annexure III.

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

b. Audit Committee:

The Audit Committee of the Board of Directors of the Company has been constituted in compliance with the provisions of Section 177 of the Companies Act, 2013 and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The composition of the Audit Committee is as under

Mr. Gaurav Jayant Deshmukh - Chairman

Mr. Manish Vilas Lonari - Member

Mr. Chetan Giridharlal Batavia - Member

For details of the Audit committee meetings held for the financial year 2025-26 and powers & role of the Audit Committee are included in the Corporate Governance Report Annexure III.

During the year under review, all the recommendations made by the Audit Committee were accepted by the Board.

c. Nomination And Remuneration Committee:

The Nomination and Remuneration Committee of the Board of Directors of the Company has been constituted in compliance with the provisions of Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The composition of the Nomination and Remuneration Committee is as under are as follows:

Mr. Manish Vilas Lonari - Chairman

Mr. Jaman Haridas Thakker - Member

Mr. Gaurav Jayant Deshmukh - Member

For details of the Nomination & Remuneration committee meetings held for the financial year 2025-26 and powers & role of the Nomination & Remuneration Committee are included in the Corporate Governance Report Annexure III.

In terms of the applicable provisions of the act, read with the rules framed thereunder and the SEBI Regulations, the Board has placed a policy for appointment, removal and remuneration of Directors, Key Managerial Personnel and Senior Managerial personnel and also on Board diversity, succession planning and Evaluation of Directors. The remuneration paid to Directors, KMP of the company are as per the terms laid down under NRC Policy of the company.

The salient features of the Remuneration Policy and changes therein are attached as Annexure III and the Remuneration Policy is available on Companys website and can be accessed in the link provided herein below: https://thakkersgroup.com/wp-content/uploads/2026/07/Remuneration-Policy.pdf

d. Stakeholders Relationship Committee:

The Stakeholders Relationship Committee of the Board of Directors of the Company has been constituted in compliance with the provisions of Section 178(5) of the Companies Act, 2013 and Regulation 20 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The composition of the Stakeholders Relationship Committee is as under:

Mr. Jaman Haridas Thakker - Chairman

Mrs. Karishma Gaurav Thakker - Member

Mr. Gaurav Jitendra Thakker - Member

For details of the meetings held for the financial year 2025-26, please refer to the Corporate Governance Report, which forms part of this report in Annexure III.

e. Corporate Social Responsibility Committee

Pursuant to the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company has constituted a Corporate Social Responsibility (CSR) Committee to formulate and monitor the Corporate Social Responsibility Policy of the Company and to oversee the implementation of CSR initiatives undertaken by the Company.

The CSR Committee functions in accordance with the provisions of the Companies Act, 2013 and is responsible for recommending the CSR Policy to the Board, recommending the amount of expenditure to be incurred on CSR activities and monitoring the implementation of the CSR projects and programmes undertaken by the Company from time to time.

The composition of the Corporate Social Responsibility Committee as on March 31, 2026 was as under:

Mr. Gaurav Jitendra Thakker - Chairman

Mr. Chetan Giridharlal Batavia - Member

Mr. Manish Vilas Lonari - Member

f. Vigil Mechanism Policy For The Directors And Employees:

Pursuant to the provisions of Section 177(9) and 177(10) of the Companies Act, 2013 read with the applicable Rules thereunder and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has established a Vigil Mechanism / Whistle Blower Policy for its Directors, employees and other stakeholders. The Policy provides an adequate and effective mechanism for reporting genuine concerns relating to unethical behaviour, actual or suspected fraud, violation of the Companys Code of Conduct, misconduct, financial irregularities or any other improper practices.

The Vigil Mechanism ensures adequate safeguards against victimization of persons who use the mechanism and provides direct access to the Chairperson of the Audit Committee in appropriate and exceptional cases. The Company affirms that no person has been denied access to the Audit Committee. The Whistle Blower Policy is aimed at promoting transparency, accountability and ethical conduct throughout the organization and reflects the Companys commitment to maintaining the highest standards of integrity, honesty and corporate governance. The website link of the policy is https://thakkersgroup.com/wp-content/uploads/2026/02/Vigil-Mechanism-Policy.pdf

g. Risk Management Policy:

The Board of Directors of the Company has designed Risk Management Policy and Guidelines to avoid events, situations or circumstances which may lead to negative consequences on the Companys businesses, and define a structured approach to manage uncertainty and to make use of these in their decision making pertaining to all business divisions and corporate functions. Key business risks and their mitigation are considered in the annual/ strategic business plans and in periodic management reviews.

h. Annual Evaluation Of Directors, Committee And Board:

Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual evaluation of its own performance, the performance of its Committees and that of the individual Directors. The evaluation process was conducted through a structured framework approved by the Board and the Nomination and Remuneration Committee, taking into consideration various aspects of Board functioning, composition, effectiveness, governance practices, strategic oversight and quality of deliberations.

The performance of the Board Committees, namely the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee, was also evaluated with reference to their respective terms of reference, effectiveness and contribution to the governance of the Company. The evaluation of individual Directors, including the Chairman, was based on parameters such as attendance, participation, contribution to Board deliberations, professional expertise, strategic guidance and fulfillment of fiduciary responsibilities. The Independent Directors, at their separate meeting, also reviewed the performance of the Chairman, Non-Independent Directors and the Board as a whole. The Board expressed satisfaction with the outcome of the evaluation process and concluded that the Board and its Committees continue to operate effectively and efficiently.

i. Corporate Social Responsibility:

Pursuant to the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company was required to undertake Corporate Social Responsibility (CSR) activities during the financial year 2025-26, having fulfilled the prescribed threshold criteria under the Act.

The CSR obligation of the Company for the financial year 2025-26 was ?6.99 Lakhs. The Company has fully spent the said amount on eligible CSR activities in accordance with the provisions of Section 135 of the Companies Act, 2013 and the CSR Policy of the Company. The CSR initiatives undertaken by the Company were aimed at promoting social welfare, education and environmental sustainability, thereby contributing towards inclusive and sustainable development of society.

The Annual Report on CSR activities containing the details prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014, including the composition of the CSR Committee, approved CSR projects and expenditure incurred during the year, forms part of this Annual Report as Annexure III & V.

4. Auditors And Reports

The matters relating to the Auditors and Audit Reports of the Company for the financial year ended March 31, 2026 are as follows:

a.Observations Of Statutory Auditors On Accounts For The Year Ended 31st March 2026:

The Standalone Financial Statements of the Company for the financial year ended March 31, 2026 have been audited by M/s. Karwa Malani Kalantri & Associates, Chartered Accountants, Statutory Auditors of the Company. The Auditors have issued an unmodified opinion on the Financial Statements of the Company.

The Notes to the Financial Statements referred to in the Auditors Report are self-explanatory and, therefore, do not call for any further comments under Section 134(3)(f) of the Companies Act, 2013. There were no qualifications, reservations, adverse remarks or disclaimers made by the Statutory Auditors in their Audit Report.

b.Secretarial Audit Report For The Year Ended 31st March, 2026:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Regulation 24A(1) and 24A(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, the Board of Directors, based on the recommendation of the Audit Committee, has proposed the appointment of Ashok Surana, Practicing Company Secretaries, Peer Reviewed Firm, as the Secretarial Auditors of the Company for a term of five consecutive financial years commencing from FY 2026-27 up to FY 2030-31, subject to the approval of the Members at the ensuing Annual General Meeting.

The proposed appointment is in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. An Ordinary Resolution seeking approval of the Members for the aforesaid appointment forms part of the Notice convening the ensuing Annual General Meeting.

The Secretarial Audit Report issued by CS Ashok Surana, Practising Company Secretaries in Form MR-3 for the financial year 2025-26 forms part to this report. The said report does not contain any observation or qualification requiring explanation or comments from the Board under Section 134(3) of the Companies Act, 2013.

c. Internal Auditor:

Pursuant to the provisions of Section 138 of the Companies Act, 2013 and the Rules made thereunder, M/s. S. S. Dhoot & Company, Chartered Accountants, continued as the Internal Auditors of the Company during the year under review. The Internal Auditors conduct periodic audits of the Companys operations and processes and submit their reports to the Audit Committee.

The Audit Committee regularly reviews the Internal Audit Reports, observations and recommendations and monitors the implementation of corrective actions, wherever necessary, to strengthen the internal control framework of the Company.

d.Statutory Auditors:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s Karwa Malani Kalantri & Associates (Firm Registration No. 136867W), Chartered Accountants, appointed as the Statutory auditors of the Company by the Board. Board recommended to regularize & appoint them for further period of Five years till the conclusion of AGM to be held in the F.Y. 2026-27.

Their appointment was subject to ratification by the Members at every subsequent AGM held after the AGM held on September 15, 2022. Pursuant to the amendments made to Section 139 of the Companies Act, 2013 by the Companies (Amendment) Act, 2017 effective from May 7, 2018, the requirement of seeking ratification of the Members for the appointment of the Statutory Auditors has been withdrawn from the Statute. Hence the resolution seeking ratification of the Members for continuance of their appointment at this AGM is not being sought.

The Company has received written consent and certificate of eligibility in accordance with Sections 139, 141 and other applicable provisions of the Companies Act, 2013 and Rules issued thereunder (including any statutory modification(s) or re-enactment(s) for the time being in force), from M/s Karwa Malani Kalantri & Associates, Chartered Accountants. Further, they have confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India (ICAI) as required under the Listing Regulations.

e.Maintenance Of Cost Records:

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the maintenance of cost records and conduct of cost audit are not applicable to the Company for the financial year under review.

f. Reporting Of Frauds By Statutory Auditors Under Section 143(12):

During the financial year under review, neither the Statutory Auditors nor the Secretarial Auditor has reported any instance of fraud under Section 143(12) of the Companies Act, 2013 read with the relevant Rules made thereunder. Accordingly, no disclosure in this regard is required to be made by the Company.

5. Dividend Distribution Policy:

Pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has adopted a Dividend Distribution Policy setting out the parameters and circumstances that would be considered by the Board of Directors while recommending or declaring dividends. The Policy aims to ensure a balanced approach between rewarding shareholders and retaining adequate resources for the Companys growth, expansion plans and financial requirements.

The Dividend Distribution Policy, as approved by the Board of Directors, is reviewed from time to time in line with the applicable regulatory requirements and the Companys business needs.

There is no change in the dividend distribution policy of the Company. The Policy is available on the website of the Company at https://oranged-aardvark-658428.hostingersite.com/wp-content/uploads/2024/04/DIVIDEND-DISTRIBUTION-POLICY.pdf and can be accessed by the stakeholders for their reference.

6. Other Disclosures:

Other disclosures as per provisions of Section 134 of the Act read with Companies (Accounts) Rules, 2014 are furnished as under:

a. Disclosure Of Orders Passed By Regulators Or Courts Or Tribunal:

During the financial year under review, no significant or material orders were passed by any regulatory authority, court or tribunal which could impact the going concern status of the Company or materially affect its future operations, financial position or business prospects.

The Company continues to operate in compliance with the applicable laws and regulations and there are no orders, proceedings or directions having a material adverse effect on the business and affairs of the Company.

b. Directors Responsibility Statement:

In terms of Section 134(5) of the Companies Act, 2013, in relation to the audited financial statements of the Company for the year ended 31st March, 2026, the Board of Directors hereby confirms that:

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

b. such accounting policies have been selected and applied consistently and the Directors 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 that year;

c. proper and sufficient care was taken 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 annual accounts of the Company have been prepared on a going concern basis

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.

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

c.Disclosure Regarding Internal Complaints Committee:

The Company has complied with the provisions relating to the constitution of the Internal Complaints Committee (ICC) under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company is committed to providing and maintaining a safe, secure and conducive work environment that is free from discrimination, harassment and intimidation.

The Internal Complaints Committee is duly constituted and functions in accordance with the provisions of the aforesaid Act. The Company has adopted a Policy on Prevention of Sexual Harassment at Workplace and conducts awareness initiatives to ensure compliance with the statutory requirements.

The details relating to complaints received and disposed of during the financial year 2025-26 are as under:

The Company affirms that no case of sexual harassment was reported during the financial year under review.

d.Compliance Regarding Maternity Benefit Act, 1961

The Company has not required to comply with the Maternity Benefit Act, 1961, as there is no applicability.

e.Disclosure Under Section 43(a)(ii) Of The Companies Act, 2013:

During the financial year under review, the Company has not issued any equity shares with differential rights as to dividend, voting or otherwise. Accordingly, the disclosure requirements under Section 43(a)(ii) of the Companies Act, 2013 read with Rule 4(4) of the Companies (Share Capital and Debentures) Rules, 2014 are not applicable.

f. Disclosure Under Section 54(1)(d) Of The Companies Act, 2013:

The Company has not issued any Sweat Equity Shares during the financial year under review. Accordingly, the disclosure requirements under Section 54(1)(d) of the Companies Act, 2013 read with Rule 8(13) of the Companies (Share Capital and Debentures) Rules, 2014 are not applicable.

g.Disclosure Under Section 62(1)(b) Of The Companies Act, 2013:

The Company does not have any Employee Stock Option Scheme (ESOS) in force and no stock options were granted, vested, exercised or allotted during the financial year under review. Accordingly, the disclosure requirements under Section 62(1)(b) of the Companies Act, 2013 read with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 are not applicable.

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

During the financial year under review, there were no instances of voting rights not being exercised directly by employees in respect of shares held by them under any scheme pursuant to Section 67(3) of the Companies Act, 2013 read with Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014. Accordingly, the relevant disclosure requirements are not applicable.

i. Disclosure Of Proceedings Pending Or Application Made Under Insolvency And Bankruptcy Code, 2016 :

During the financial year under review, no application was made, nor were any proceedings initiated or pending against the Company under the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal (NCLT) by any financial creditor, operational creditor or by the Company itself.

j. Disclosure Of Reason For Difference Between Valuation Done At The Time Of Taking Loan From Bank And At The Time Of One Time Settlement :

During the financial year under review, there was no instance of any One-Time Settlement (OTS) entered into by the Company with any bank or financial institution. Accordingly, the disclosure requirement under Rule 8(5)(xii) of the Companies (Accounts) Rules, 2014 is not applicable.

k.Ratio Of Remuneration Of Each Director To The Median Remuneration Of The Employees Of The Company For The Financial Year:

The information required pursuant to Section 197 read with Rule 5(1)(i) of the Companies (Appointment and Remuneration) Rules,2014 in respect of ratio of remuneration of each director to the median remuneration of the employees of the Company for the Financial Year, will be made available for inspection at its registered office of the Company during the working hours for a period of twenty one days before the date of annual general meeting of the company pursuant to Section 136 of the Companies Act,2013 and members, if any interested in obtaining the details thereof, shall made specific request to the Company Secretary and Compliance officer of the Company in this regard.

7. Acknowledgements And Appreciations:

Your Directors place on record their sincere appreciation and gratitude to the Companys shareholders, customers, suppliers, contractors, bankers, financial institutions, business associates, regulatory authorities and the Central and State Governments for their continued trust, support and cooperation.

The Directors also acknowledge the valuable contribution, commitment and dedication of the employees at all levels, whose efforts have significantly contributed to the Companys performance and growth. The Board looks forward to the continued support of all stakeholders as the Company pursues its objectives of sustainable growth and long-term value creation.