The Ravalgaon Sugar Farm Ltd Directors Report

To,

The Members,

The Ravalgaon Sugar Farm Limited

Your Directors hereby present the Ninetieth (90th) Annual Report on the Business and Operations together with the Audited Financial Statements of the Company for the Financial Year ended March 31, 2025 ("FY 2024-25").

FINANCIAL HIGHLIGHTS:

The Companys financial performance for the year under review is summarized below: (Rs. in Lakhs)

Particulars	Year ended March 31, 2025	Year ended March 31, 2024
Revenue from Operations	115.81	858.01
Other Income	125.50	13.60
Total Income	241.32	871.61
Total Expenses	400.88	1,320.37
Profit/(Loss) Before Exceptional Items and Tax	(159.56)	(448.76)
Exceptional Items	(43.14)	2,604.56
Profit/(Loss) before Tax	(202.70)	2,155.80
Less: Tax Expense
- Tax for Earlier Years	0	0
- Current Tax	0	425.00
Profit/(Loss) for the period	(202.70)	1730.80
Other Comprehensive Income (OCI)	0.93	9.02
Total Comprehensive Income/(Loss)	(201.78)	1,739.82

REVIEW OF OPERATIONS AND STATE OF THE COMPANY AFFAIRS:

The Financial Statements of the Company for the FY 2024-25, have been prepared in accordance with the applicable Indian Accounting Standards (Ind AS) and the provisions of Companies Act, 2013 ("the Act").

During the year under review, the Company had total income of Rs.241.32 Lakhs as against Rs. 871.61 Lakhs in the previous year. The profit/(loss) before tax (after exceptional items) was Rs. (202.70) Lakhs as against Rs. 2155.80 Lakhs in the previous year. The profit/ (loss) after tax was Rs. (202.70) Lakhs as against Rs. 1730.80 Lakhs in the previous year.

The Company operates in a single segment viz. Manufacturing of Confectionery. An analysis of performance for the year including the major developments, if any, has been included in the Management Discussion & Analysis Report, which forms a part of the

Annual Report.

CHANGE IN NATURE OF BUSINESS:

There was no change in nature of business carried on by the Company during the financial year under review.

DIVIDEND:

In light of the losses incurred during the year, your Directors do not recommend declaring a dividend for the year under review.

TRANSFER TO RESERVES:

During the financial year under review, no amount has been transferred to the reserves.

SHARE CAPITAL:

Authorized Share Capital

The authorized share capital of the company is 3,00,000 (Three Lakh) preference shares of Rs. 100/- (Rupees One Hundred Only) each and 30,00,000 (Thirty Lakh) equity shares of Rs. 10/- (Rupees Ten Only) each.

Issued, Subscribed, Paid-up Share Capital

During the financial year 2024-25, there was no change in the issued, subscribed and paid-up share capital of the Company. The issued, subscribed and paid-up share capital of the Company as on March 31, 2025, was Rs. 34,00,000/- (Rupees Thirty-Four Lakhs

Only), divided into 3,40,000 (Three Lakh Forty Thousand) equity shares of Rs. 10/- (Rupees Ten Only) each. Further, during the year under review, the Company has not issued equity shares withdifferential rights as to dividend, voting or otherwise.

PUBLIC DEPOSITS:

During the FY 2024-25, the Company has not accepted any deposits from public/members within the meaning of Section 73and 76 of the Act read with Companies (Acceptance and Deposits) Rules, 2014.

ANNUAL RETURN:

Pursuant to Sections 92(3) and 134(3)(a) of the Act, a copy of the Annual Return of the Company in Form MGT-7 for the FY 2024-25 is available on the website of the Company and can be accessed at https://trsfl.in/annual-results.html.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The composition of the Board of Directors during the FY 24-25, including the changes therein up to the date of this report, is as follows:

Sr. No. Name of the Director	Designation
1. Mr. Harshavardhan Doshi	Chairman & Managing Director
2. Mr. Nihal Doshi	Executive Director & Chief Financial
3. Mrs. Ramola Mahajani*	Independent Director
4. Mr. Rajiv Jain	Independent Director
5. Mr. Subodh Mawalankar	Independent Director
6. Mrs. Sirisha Sampat**	Independent Director

* Tenure of Mrs. Ramola Mahajani as an Independent Director of the Company has been completed w.e.f. July 8, 2025; ** Mrs. Sirisha Sampat is appointed as an Independent Director of the Company w.e.f. May 29, 2025.

Key Managerial Personnel (KMP):

Pursuant to the provisions of Sections 2(51) and 203 of the Act, the KMPs of the Company during the FY -24-25, including the changes therein up to the date of this report, is as follows:

Sr. No. Name of the KMP	Designation
1. Mr. Harshavardhan Doshi	Chairman & Managing Director
2. Mr. Nihal Doshi	Executive Director & Chief Financial Officer
3. Mrs. Maahi Ahuja*	Company Secretary & Compliance Officer
4. Ms. Aarti Chheda**	Company Secretary & Compliance Officer

*Mrs. Maahi Ahuja tendered her resignation from the position of Company **Ms. Aarti Chheda is appointed as Company Secretary & Compliance Officer of the Company w.e.f. June 16, 2025.

Retirement by rotation:

In accordance with the provisions of Section 152 of the Act read with the Companies (Management and Administration) Rules, 2014 and in accordance with the Articles of Association of the Company, Mr. Harshavardhan Doshi (DIN: 00688736), Managing Director of the Company, who is liable to retire by rotation at the ensuing Annual General Meeting ("AGM"), being eligible, offers himself for re-appointment. The Board recommends the re-appointment of Mr. Harshavardhan Doshi as Director of the Company.

Declaration from Independent Directors:

The Company has received declaration from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations. There has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied with the integrity, expertise and experience (including proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board.

Further, in terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules, 2014, as amended, and as per the Ministry of Corporate Affairs Notification dated October 22, 2019, the Independent Directors of the Company have included their names in the databank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

Remuneration to Non-Executive Directors:

During the financial year under review, the Non-Executive Directors (NEDs) of the Company had no pecuniary relationship or transactions with the Company, other than sitting fees, commission and reimbursement of expenses incurred by them for the purpose of attending meetings of the Board/Committee of the Company.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 134(3)(c) and Section 134(5) of the Act, your Directors, to the best of their knowledge and ability, confirm 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. We have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the loss of the company for that period; c. We had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the the Companies Act, 2013, to the extent applicable, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d. We have prepared the annual accounts on a going concern basis; e. We have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and f. We have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

ANNUAL PERFORMANCE EVALUATION BY THE BOARD, ITS COMMITTEES AND OF INDIVIDUAL DIRECTORS:

Board: In accordance with the criteria suggested by the Nomination and Remuneration Committee, the Board of Directors evaluated the performance of the Board, with regards to various criteria such as Board composition, Independent Directors, at their separate meeting held on February 12, 2025, also evaluated the performance of the Board as a whole based on various criteria. The Board and the Independent Directors were of the unanimous view that performance of the Board of Directors as a whole was satisfactory.

Committees of the Board: The performance of the Audit Committee, the Nomination was evaluated by the Board with regards to various criteria such as committee StakeholdersRelationship committee processes and committee dynamics. The Board was of the unanimous view that all the committees were performing their functions satisfactorily and according to the mandate prescribed by the Board under the regulatory requirements including the provisions of the Act, the Rules framed thereunder.

Individual Directors: In accordance with the criteria suggested by the Nomination & RemunerationCommittee, the performance of each independent director was evaluated by the entire Board of Directors (excluding the director being evaluated) on various parameters such as qualification, experience, availability and attendance, integrity, commitment, governance, independence, communication, preparedness, participation and value addition. The Board was of the unanimous view that each independent director was a reputed professional and brought his/her rich experience to the deliberations of the Board.

MEETINGS OF THE BOARD:

The Board met at regular interval to discuss and decide on affairs, operations of the Company and to supervise and control the activities of the Company. During the year under review, 4 (Four) Board Meetings were held i.e. on May 30, 2024, August 13, 2024, November 14, 2024 and February 12, 2025. The intervening gap between the two consecutive Board meetings did not exceed the period prescribed by the Act, Listing Regulations, Secretarial Standard on Board Meetings (SS-1) issued by ICSI.

The details of attendance of the Directors at the meetings held during the year under review is stated herewith:

Sr. No. Name of Directors	Designation	No. of Board Meetings attended
1 Mr. Harshavardhan Doshi	Chairman & Managing Director	4
2 Mr. Nihal Doshi	Executive Director & Chief Financial Officer	4
3 Mrs. Ramola Mahajani	Independent Director	3
4 Mr. Rajiv Jain	Independent Director	4
5 Mr. Subodh Mawalankar	Independent Director	2
6 Mrs. Sirisha Sampat*	Independent Director	0

* Mrs. Sirisha Sampat is appointed as an Independent Director of the Company w.e.f. May 29, 2025.

COMMITTEES OF THE BOARD:

As required under the applicable provisions of the Act, the Company has constituted following 1. Audit Committee; 2. Stakeholders Relationship Committee; and 3. Nomination & Remuneration Committee.

AUDIT COMMITTEE AND ITS COMPOSITION:

The Audit Committee is duly constituted as per the provisions of Section 177 of the Act.

During the FY 2024-25, the Committee met 4 (Four) times i.e. on May 30, 2024, August

12, 2025.

The composition of the Committee and attendance details for the meetings held during FY 2024-25, and the current composition reconstituted by the Board of Directors at its meeting held on May 29, 2025, is as follows:

Name of Director	Designation (during the year)	No. of Meetings attended	Designation (post reconstitution, w.e.f. May 29, 2025)
Mr. Rajiv Jain	Chairperson	4	Chairperson
Mrs. Ramola Mahajani	Member	3	-
Mr. Subodh Mawalankar	Member	2	Member
Mr. Nihal Doshi	Member	4	Member
Mrs. Sirisha Sampat*	-	0	Member

*Mrs. Sirisha Sampat is appointed as an Independent Director of the Company w.e.f. May 29, 2025. literate and bring in expertisein the fields of finance, accounting, development, strategy and management. Allmembersarefinancially

During the year under review, all the recommendations made by the Mr. Rajiv Jain, Chairperson of the Audit Committee was present at the last AGM of the Company held on September 19, 2024. During the year under review and until her resignation, Ms. Maahi Ahuja, Company Secretary & Compliance Officer of the Company, acted as the Secretary to the Committee.

STAKEHOLDERS RELATIONSHIP COMMITTEE AND ITS COMPOSITION:

The Composition Committee is in compliance with the provisions of Section 178 of the Act. oftheStakeholdersRelationship

The Committee is primarily responsible to review all matters connected with the Companys transfer of securities and redressal of shareholders / investors / security holders complaints.

During the FY 2024-25, the Committee met 1 (One) time i.e. on February 12, 2025.

The composition of the Committee and attendance details for the meetings held on May 29, 2025, is as follows:

Name of Director	Designation (during the year)	No. of Meetings attended	Designation (post reconstitution, w.e.f. May 29, 2025)
Mrs. Ramola Mahajani	Chairperson	1	-
Mr. Rajiv Jain	Member	1	Chairperson
Mr. Nihal Doshi	Member	1	Member
Mrs. Sirisha Sampat*	-	0	Member

*Mrs. Sirisha Sampat is appointed as an Independent Director of the Company w.e.f. May 29, 2025.

Mrs. Ramola Mahajani, Chairperson of the Stakeholders Relationship Committee was present at the last AGM of the Company held on September 19, 2024.

During the year under review and until her resignation, Ms. Maahi acted as the Secretary to the Committee.

NOMINATION AND REMUNERATION COMMITTEE AND ITS COMPOSITION:

The Composition of the Nomination and Remuneration Committee During the FY 2024-25, the Committee met 1 (one) time i.e. on August 13, 2024. The composition of the Committee and attendance details for the meetings held during FY 2024-25, and the current composition reconstituted by the Board of Directors at its meeting held on May 29, 2025, is as follows:

Name of Director	Designation (during the year)	No. of Meetings attended	Designation (post reconstitution, w.e.f. May 29, 2025)
Mrs. Ramola Mahajani	Chairperson	0	-
Mr. Subodh Mawalankar	Member	1	Chairperson
Mr. Rajiv Jain	Member	1	Member
Mrs. Sirisha Sampat*	-	0	Member

*Mrs. Sirisha Sampat is appointed as an Independent Director of the Company w.e.f. May 29, 2025.

Mrs. Ramola Mahajani, Chairperson of the Nomination & Remuneration Committee was present at the last AGM of the Company held on September 19, 2024.

During the year under review and until her resignation, Ms. Maahi Ahuja, Company Secretary & Compliance Officer of the Company, acted as the Secretary to the Committee.

COMPANYS POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION:

The Companys policy on Directors appointment including criteria for determining qualifications, positive attributes and independence of a Director as well as policy relating to Remuneration of Key Managerial Personnel and other employees and other matters as provided in Section 178(3) of the Act, is appended as an ‘Annexure I" to this Report and the same is uploaded on the website of the Company and can be access at the web-link: https://trsfl.in/assets/policies/remuneration-policy.pdf

VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has adopted a Whistle Blower Policy to provide a formal mechanism to the Directors and employees to report concerns about unethical behavior, actual or suspected fraud or violation safeguards against the victimization of employees who avail of the mechanism and provides direct access to the Chairperson of the Audit Committee in exceptional cases. It is affirmedthat none of the personnel of the Company was denied access to the Audit

Committee. The Whistle Blower Policy aims at conducting the affairs in a fair and of professionalism, honesty, integrity and ethical behavior. The Policy is available on the Companys website and can be accessed at: https://trsfl.in/assets/policies/whistleblower-policy-vigil-mechanism.pdf We affirm that no employee / director has been denied access to the Chairperson of the Audit Committee and that no complaints were received during the year under review.

RISK MANAGEMENT:

The Company has implemented a comprehensive Risk Management Policy aimed at proactively identifying, analyzing, and mitigating risks that may impact its operations and objectives. The Board of Directors consistently engages in a detailed exercise to identify these risks and define appropriate measures for their control and mitigation, The Board and the Audit Committee periodically reviews the risks associated with the Company and recommend steps to be taken to control and mitigate the same through a properly defined

The Risk Management Policy of the Company is available on the website and can be accessed at: rsfl.pdf https://trsfl.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE:

There were no significant or material orders passed by any regulator or court or tribunal that would impact the going concern status of the Company or have a material bearing on the Companys operations in the future.

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

The provisions relating to Corporate Social Responsibility under Section 135 of the Act and Rules made thereunder are not applicable to the Company.

STATUTORY AUDITORS AND AUDITORS REPORT:

At the 86^th AGM convened on September 28, 2021, the Members of the Company had approved the appointment of M/s. Anil A.

Masand & Co., Chartered Accountants (ICAI Firm Registration No. 100412W), as the Statutory Auditors of the Company for a period of 5 (five) years commencing from the conclusion of the 86 th AGM until the conclusion of the 90 ^th AGM. Accordingly, the term of

M/s. Anil A. Masand & Co. as Statutory Auditors expires at the conclusion of the 90^th AGM.

As the tenure of M/s. Anil A. Masand & Co. will expire from the conclusion of the ensuing AGM, your Board of Directors have recommended appointment of M/s Patkar & Pendse, Chartered Accountants for a term of 5 consecutive years i.e., from the conclusion of 90^th AGM to be held in the year 2025 till the conclusion of AGM of the Company to be held in the year 2030. The said matter shall be made part of the Notice convening the ensuing AGM.

The Company has obtained written consent and a certificate from M/s Patkar & Pendse, Chartered Accountants confirming their compliance with the criteria specified under Section 141 of the Act for the appointment of auditors. verifies that their appointment as auditors falls within the limits prescribed under Section 139 of the Act. During the year under review, the Statutory Auditors have confirmed that no instance of fraud was reported to the Audit Committee, in accordance with Section 143(12) of the Act. As a result, there are no detail to be disclosed under Section 134(3)(ca) of the Act. The Auditors Report for the financial year ended March 31, 2025 does not contain any qualification, reservation or The notes on the financial statement referred to in the Auditors Report are self-

INTERNAL AUDITOR:

Pursuant to the provisions of Section 138 of the Act read with the Companies (Accounts) Rules, 2014, M/s Sandesh Kadam & Associates, Chartered Accountant, was appointed as the Internal Auditor of the Company in the meeting of the Board of Directors held on February 12, 2025.

The Internal Auditor monitors and evaluates the efficacy and adequacy of internal control systems, including compliances with operating systems, accountingCommittee periodically.procedures,andpoliciesandreportthesametotheAudit The management examines the InternalAuditorsreportandpromptlyimplementscorrectiveactionswithin their respective areas to reinforce and enhance internal controls.

SECRETARIAL AUDITORS AND THEIR REPORT:

Pursuant to the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors had re-appointed M/s S. R. Padhye & Co., Practicing Company Secretaries (COP No.

1559), as the Secretarial Auditors of the Company to undertake the Secretarial Audit for the FY 2024-25. The Secretarial Audit Report for the said Financial Year is annexed to this report as "Annexure II".

INTERNAL FINANCIAL CONTROL WITH REFERENCE TO THE FINANCIAL STATEMENTS:

The Board has implemented comprehensive policies and procedures to ensure smooth and effective conduct of its business operations. These policies cover various aspects, including adherence to Company Policies, safeguarding of assets, prevention and detection of frauds and errors, as well as ensuring the accuracy and completeness of accounting records and timely preparation of reliable financial disclosures.

The Audit Committee in co-ordination with the Board evaluates the Internal Financial Control Systems and strives to maintain the appropriate Standards of Internal Financial Control. The details in respect of internal financial control and their adequacy are included in the Management Discussion & Analysis Report, which forms part of this Annual Report.

MAINTENANCE OF COST RECORDS:

Pursuant to the provisions of Section 148(1) of the Act and rules made thereunder, maintenance of Cost Records or Cost Audit was not applicable to the Company during the year under review.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:

The particulars of Loans, Guarantees and Investments made by the Company, falling under the purview of Section 186 of the Act, are given in the notes to the Financial Statements, as included in this Annual Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All the contracts / arrangements / transactions entered by the Company during the FY 2024-25 with related parties were in the ordinary course of business and on an arms length basis.

During the year under review, the Company had not entered into contract / arrangement / transaction with related partieswhich is required to be reported in Form No. AOC-2 in terms of Section 134(3)(h) read with Section188 of the Act and

Companies (Accounts) Rules, 2014.

The Company has made full disclosure of transactions with the related parties as set out in Note No. 31 of forming part of the Annual Report.

PARTICULARS OF LOANS ACCEPTED FROM DIRECTORS OR RELATIVES OF DIRECTORS:

During the year under review, no loans have been accepted from any director or their relative.

PARTICULARS OF THE EMPLOYEES AND REMUNERATION:

Disclosures pertaining to remuneration and other details as required under Section197(12) of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed to this report as‘Annexure III.

PARTICULARS OF CONSERVATION OF ENERGY, TECHONOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Pursuant to Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014, details of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo for the year under review is annexed to this report as

"Annexure IV. STOCK EXCHANGE:

The Equity Shares of the Company are listed on BSE Limited. The Company has paid the Annual listing fees for the Financial Year 2024-25 to the said Stock Exchange.

SUBSIDIARY, ASSOCIATE AND JOINT VENTURE COMPANIES:

As on March 31, 2025, the Company does not have any Subsidiary, Associate and Joint Venture Company. Therefore, the preparation of consolidated financial statements and the statement containing salient features of the Subsidiary, Associate and Joint Venture companies in Form AOC-1, as required under Section 129 of the Act, is not applicable to the Company.

Furthermore, during the year under review, no Company ceased to be a Subsidiary, Associate and Joint Venture of the Company.

MATERIAL CHANGES AND COMMITMENT, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENT RELATES AND THE DATE OF THE REPORT:

There have been no material changes and commitments affecting the financial positions of the Company occurred between the end of the financial year to which this financial statement relates and the date of this report.

COMPANYS POLICY ON PREVENTION OF INSIDER TRADING:

Pursuant to the SEBI (Prohibitionof Insider Trading) Regulations, 2015 ("PIT Regulations"), as amended from time to Company has formulated a Code of Conduct for Insiders ("Code of Conduct") and the "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information" ("Code of Fair Disclosure") in lines with the provisions of PIT Regulations. The aforementioned Codes can be accessed on the website of the Company at: https://trsfl.in/assets/policies/insider-trading-policy.pdf Further, the Compliance Officer has received requisite disclosure from the Directors and Designated Persons in compliance with the

Code.

REPORT ON CORPORATE GOVERNANCE:

As per the Regulation 15(2) of ListingRegulations, the provisions related to Corporate Governance, as specified in Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 26A, 27 and clauses (b) to (i) and (t) of sub-regulation (2) of regulation 46 and para C, D and E of Schedule V, shall not apply to a listed entity having paid up Share Capital not exceeding Rupees Ten Crores and Net-worth not exceeding Rupees Twenty-Five Crores, as on the last day of the previous financial year. As on the last day of the previous financial year, the paid up Share Capital and Net-worth of the Company were below the threshold limits stated above. Therefore, the Company is currently not required to comply with the above provisions of Corporate Governance. Certific compliance of conditions of Corporate Governance are Consequently,theReportonCorporateGovernanceand not made a part of this Annual Report.

However, pursuant to the Regulation 34(2)(e) of Listing Regulations, Management Discussion & Analysis Report is attached herewith as "Annexure V" and forms an integral part of this Annual Report.

COMPLIANCE WITH SECRETARIAL STANDARDS:

During the year under review, the Company has followed the applicable Secretarial Standards, i.e. SS-1 and SS-2, relating to ‘Meetings of the Board of Directors and ‘General Meetings respectively.

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

In accordance with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)

Act, 2013 (‘POSH Act) and the Rules made thereunder, the Company has in place a policy which mandates no tolerance against any conduct amounting to sexual harassment of women at workplace. The Company has constituted Internal Complaints Committee to redress and resolve any complaints arising under the POSH Act. During the year under review, no complaint was received by the

Committee on sexual harassment.

Sr. No. Particulars	No. of Complaints
1. Number of complaints of sexual harassment received in the year	Nil
2. Number of complaints disposed of during the year	Nil
3. Number of cases pending for more than ninety days	Nil

DISCLOSURE IN RESPECT OF STATUS OF APPLICATION OR PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:

During the year under review, no application was made or any proceedings were pending against the Company under the Insolvency and Bankruptcy Code, 2016.

DISCLOSURE RELATING TO DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND VALUATION DONE WHILE TAKING LOAN FROM BANK OR FINANCIAL INSTITUIONS ALONG WITH THE REASONS THEREOF:

During the year under review, no such one-time settlement pany from Banks / Financial

DISCLOSURE RELATING TO THE COMPLIANCE OF THE PROVISIONS RELATING TO THE MATERNITY BENEFIT ACT 1961:

During the FY 24-25, there were no instances requiring the application of provisions under the Maternity Benefit Act, 1961 ("Act"). However, the Company remains committed to full compliance with the Act and is fully prepared to extend all statutory benefits to eligible women employees, as and when required.

The Company continues to promote a supportive and inclusive workplace environment and is dedicated to safeguarding the health, well-being, and rights of its women employees in accordance with applicable laws.

ACKNOWLEDGEMENT:

The Directors of Company express their heartfelt gratitudeand appreciation to all the stakeholders, employees, and the investingcommunity, for their unwavering assistance, cooperation, and support to the Company. We sincerely acknowledge the contributions of every member of our organization, as their dedication and efforts have been instrumental in success.

We eagerly look forward to the continued support and collaboration of all stakeholders in the future.

By order of the Board of Directors of

The Ravalgaon Sugar Farm Limited

 

Harshavardhan Doshi

Chairman & Managing Director

DIN: 00688736

 

Place: Mumbai

Date: August 13, 2025