Tijaria Polypipes Ltd Directors Report

Dear Members,

The Board of Directors are pleased to present the 19^thAnnual Report of the Company along with the Audited Financial Statements for the year ended 31st March, 2025.

1. Financial Results:

(Amount in lacs)

Particulars	Year ended March, 2025	Year ended March, 2024
Total Income	29.78	33.74
Profit /(Loss) before exceptional/extraordinary items, Depreciation and Tax	0.30	13.41
Less: Depreciation for the year	230.67	276.43
Profit /(Loss) before exceptional/ extraordinary items, and tax	(230.37)	(289.84)
Less: Exceptional & Extraordinary Items	0.35	1.80
Profit / (Loss) before Tax	(230.72)	(291.64)
Provision for:
- Current Tax	-	-
- Deferred Tax	-	-
Profit / (Loss) after Tax	(230.72)	(291.64)
Comprehensive Income	0	0
Profit / (Loss) for the F.Y	(230.72)	(291.64)

• During the financial year ended March 31, 2025, your Company recorded a Total Income of Rs. 29.78 Lacs as compared to the Total Income of Rs 33.74 Lacs recorded during the previous financial year ended March 31, 2024. The Net loss of your Company for the financial year ended March 31, 2025 stood at Rs. 230.72 lacs as against the Net loss of Rs. 291.64 lacs for the financial year ended March 31, 2024.

2. State of Companys Affairs and Future Outlook:

State of Companys Affairs:

The Bank account of the Company has not been Operative as the company is unable to pay the banks dues due to adverse financial position. The Promoters of the Company wants to settle the NPA loans but the Bank is not agreeable to the Terms proposed by the Promoters.

In Last year, Textile divisions product Mink Blanket did not well performed due to heavy burden of financial cost over Fixed Assets. So the Textile unit closed. Further the Company has not received any order in pipe line division, Hence the Production is not carried on since along.

One legal case is pending before NCLT (Jaipur) in the matter of Bank of India Vs Tijaria Polypipes Limited (The Company) under section 7 of IBC, 2016

Future Outlook:

The company is not making profit and the business of the company has been adversely affected due to inoperative bank account of the company also The company has not received any order in pipe line division; hence the production is not carried on since along.

Further due to paucity of funds The Company is not in a position to resume the business of Yarn Division, once the conditions are in favor of the Company, a decision will be taken accordingly by the Promoters of the

Company. The Companys aim is to first come out from losses. Various initiatives and measures being taken to achieve this will surely make the Companys future better.

The board of the company wants to settle the NPA loans to run the day to day operations of the company smoothly and when it materializes the company will be functional and production will be started.

3. Cash Flow Analysis:

In conformity with the provisions of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and section 2(40) of the Companies Act, 2013, the cash flow statement for the year ended 31st March 2025 is included in the annual accounts.

4. Change in Nature of Business

In the last year, the board had decided not to continue the mink blanket unit during the year 2024-2025. Further the company has not received any order in pipe line division; hence the production is not carried on since along.

5. Change in registered address of company :

The board in its meeting held on 09/08/2024 has decided pursuant to the provisions of section 12 of the Companies Act, 2013 and any other provisions applicable, if any, the Registered Office of the Company be and is hereby shifted w.e.f August 10, 2024 From Sp-1-2316 Riico Industrial Area Ramchandrapura (Sitapura Extn), Jaipur, Rajasthan, India, 302022 To B-9 Vinayak Complex Station Road, Jaipur, Rajasthan India 302006.

6. Transfer to Reserves:

The Board of Directors of your Company has not transferred any amount to the Reserves, for the year under review.

7. Investor Education and Protection Fund:

During the year under review, Company has not transferred any amount to the Investor and Education protection Fund (IEPF).

8. Dividend:

The Company has no surplus during the year. Hence, no dividend has been recommended by the Board of Directors of the Company.

9. Significant and Material Orders:

The stock exchanges imposed fine on dated 30.06.2023 of (Rs.) 155000+GST @18%=Total Fine payable (Rs.) 182900 to BSE as well Total Fine payable (Rs.) 182900 to NSE for Non-submission of the Standalone Statement of Impact of Audit as per Regulation 33 of SEBI (LODR) Regulations, 2015; The Company has made waiver application dated 04.07.2023 to the Stock exchanges and the response is awaited from the Stock exchanges.

ON DATED 11.12.2023 ,The application is filed by the Applicant, Bank of India i.e. the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiation of Corporate Insolvency Resolution Process against M/s Tijaria Polypipes Limited i.e. the Corporate Debtor in respect of non-payment of the Financial Debt" to the tune of Rs 79,96,82,152/- (Rupees Seventy Nine Crore Ninety - Six Lakh Eighty Two Thousand One Hundred and Fifty - Two Only).

[This matter is in under process before the National Company Law Tribunal, Jaipur Bench at Jaipur)

10. Issue of Shares by way of Preferential Allotment:

No preferential Allotment is made by the company during the F.Y. 2024-25.

11. Particulars of Loans, Guarantees or Investments:

Loans, Guarantees and Investments covered under Section 186 of Companies Act, 2013 form part of the Notes to the financial statements provided in the Annual Report.

12. Public Deposits :

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

13. Material Changes and Commitments:

Other than stated elsewhere in this report, there are no material changes and commitments affecting the financial position of the company between the end of the financial year and the date of this report

14. Corporate Governance Report:

The Corporate Governance Report, duly approved by the Board of Directors together with the certificate from the Company Secretary in Practice confirming the compliance with the requirement of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report.

15. Directors Responsibility Statement

Your Directors state that:

i) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) They had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit and loss of the Company for that period.

iii) They had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) They had prepared the annual accounts on a going concern basis;

v) They laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

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

16. Meeting of Board of Directors & Its Committees:

During the year, board of directors of your company met Seven (07) times. For details of Composition & Meetings of Board and its Committees, please refer to the Report on corporate Governance, which forms part of this report. During the year, no such instances occurred that the Board has not accepted any recommendation of the Audit Committee.

17. Directors and Key Managerial Personnel(s):

A. Following directors were associated with the Company as on 31^st March, 2025.

No. Of Directors	Name of Director	Designation	Category of Directorship
1	Mr. Alok Jain Tijaria	Managing Director	Promoter, Executive
2	Mr. Vikas Jain Tijaria	Whole-Time Director	Promoter, Executive
3	Mr. Praveen Jain Tijaria	Whole-Time Director	Promoter, Executive
4	Mr. Vineet Jain Tijaria	Whole-Time Director	Promoter, Executive
5	Mr. Ashok Kumar	Director	Independent, Non-Executive
6	Mrs. Anjali Udhwani	Director (Women Director	Independent, Non-Executive
7	Ms. Khushi Nagrath	Director (Women Director)	Independent, Non-Executive
8	Mrs. Sonu Surana	Director (Women Director)	Independent, Non-Executive

1) Mr. Vineet Jain Tijaria, (DIN:00115029), Whole time Director of the Company shall be retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re appointment. Your Directors have recommended his re-appointment. Brief profile of Mr. Vineet Jain Tijaria, (DIN: 00115029) is given in the explanatory statement of Notice.

18. Declaration by Independent Directors

The Company has received necessary declaration from each Independent Director of the Company under Section 149(7) of the Companies Act, 2013 that the Independent Directors of the Company meet with the criteria of their Independence laid down in Section 149(6) of the Companies Act, 2013.

19. Key Managerial Personnel

There were following changes occurred in the Directors/KMP during the financial year and after closure of the financial year

NAME OF DIRECTOR/KMP	DESIGNATION	DATE OF APPOINTMENT	DATE OF CESSATION
1. KRATIKA PAREEK	COMPANY SECRETARY	25/10/2023	31/12/2024
2. MADHURI SAIN	COMPANY SECRETARY	26/03/2025	-

20. Meeting of Independent Director

As per Regulation 25(3) of the Listing Regulations as well as pursuant to Section 149(8) of Companies Act, 2013, the independent directors of the listed entity shall hold at least one meeting in a year, without the presence of non-independent directors and members of the management and all the independent directors shall strive to be present at such meeting.

Accordingly, the Independent directors held their meeting on Friday, March 20, 2025 and

a. reviewed the performance of Non-Independent Directors and the Board as a whole;

b. Reviewed the performance of the Chairperson taking into account the views of Executive Directors and Non- Executive Directors;

c. Assessed the quality, quantity and timelines of flow of information between the Company Management and the Board.

21. Statement of Performance Evaluation by the Board

The Board of Directors of your company, basis the procedures, have evaluated its own performance and that of its Committees and Individual Directors.

22. Nomination and Remuneration Policy

A Nomination and Remuneration Policy has been formulated, pursuant to Section 178 and other applicable provisions of the Companies Act, 2013 and Rules applicable thereto. The said policy may be referred at www.tijaria-pipes.com. The Brief of the Remuneration Policy as approved by the Board is given below:

a. The Non-Executive Directors and Independent Directors shall receive remuneration only by way of sitting fees as may be decided by the Board from time to time under the provisions of the Companies Act, 2013.

The Nomination and Remuneration Committee shall make such recommendations to the Board of Directors, as it may consider appropriate and taking into consideration the required factors. Any fees paid to Independent Directors for professional services shall not be considered as part of remuneration, subject to the provisions of the Companies Act, 2013.

b. Non-Executive Directors and Independent Directors shall be reimbursed expenses incurred in attending Board / Committee Meetings.

c. Key Managerial Personnel and Senior Managerial Personnel shall be paid remuneration as per Companys Policy, subject to compliance with the provisions of the Companies Act, 2013.

23. Business Risk Management:

Pursuant to the requirement of Regulation 21 of SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015, the constitution of Risk Management Committee is not applicable on the Company. However, pursuant to Regulation 17(9) of the said Regulation read with Section 134(3)(n) of the Companies Act, 2013, the Board regularly identify the business risk, evaluates it and thereafter proper mechanism is adopted to overcome the business risk.

24. Vigil Mechanism:

Pursuant to Section 177 of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements), 2015, the Board has adopted vigil mechanism in the form of Whistle Blower Policy, to deal with instances of fraud or mismanagement, if any. The Policy can be accessed at the website of the Company at www.tijaria- pipes.com.

25. Annual Return:

Pursuant to the provisions of Section 92 of the Companies Act, 2013 and rules framed there under a copy of the Annual Return be placed at the Companys website https://www.tiiaria-pipes.com/ after Conclusion of Forthcoming Annual General meeting.

26. Remuneration of Directors and Employees:

The disclosure pertaining to remuneration and other details of directors and employees as required under section 197(12) of the Companies Act 2013 read with Rule 5 of the Companies (Appointment and remuneration of Managerial Personal) Rules, 2014 and the amendment thereof have been provided in the Annexure-I forming part of this report.

During the period under review, the Managing/Whole time Director of the company was not in receipt of any remuneration from the company.

27. Particulars of Contracts or Arrangements with Related Parties:

All transactions with related parties during the year were on arms length basis and in the ordinary course of business. The disclosure of Related Party Transactions has been reported in Form no. AOC-2 is set out in Annexure II to this report.

28. Internal Financial Control:

There is an adequate system of internal financial control procedures which commensurate with the size and nature of business. Audit Committee regularly reviews adequacy and effectiveness of the Internal Controls and Systems followed by the Company. Statutory Auditors in their report has also expressed their opinion on internal financial control with reference to the financial statements which is self-explanatory.

29. Auditors

I. Statutory Auditors and their Report:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 read with Rule 3 of the Companies (Audit and Auditor) Rules 2014, on the recommendation of Audit Committee and Board of Directors of the company, the Board of Directors, at its meeting held on May 15, 2025, appointed, M/s Amit Ramakant & Co., Chartered Accountants (Firm Registration No. 009184C) as Statutory Auditors of the Company who shall hold office from the conclusion of this 19th Annual General Meeting until the conclusion of 24^th Annual General Meeting of the Company at a remuneration to be decided by the Board of Directors in consultation with the Auditors."

The Report of Statutory Auditor M/s Amit Ramakant & Co., Chartered Accountants, on financial statements, for the year ended 31st March, 2025, Following qualification has been given by the Auditors in the audit report on Standalone Financial Statements of the Company: As discussed in basis of disclaimer of opinion to the Standalone Ind AS Financial Statements for the year ended March 31, 2025.

Audit Qualification No.	Managements Views
i. Bank of India has declared Non-Performing Assets (NPA) to the Company on 30.06.2022 (w.e.f. 27.11.2020) as on date outstanding loan amount was 7116.27 Lacs and Bank Guarantee Rs. 57 lacs total Rs. 7173.27 Lacs. As per the section 13(8) of the SARFAESI Act, 2002 the right of redemption of secured assets, Bank of India has excising the power and forfeited Equity shares investment of Promoters / Directors and their relatives total Amount Rs. 474.06 Lacs. This has been shown in Financials statements as Loan against shares forfeited.	The company has faced severe financial stress due to cash flow issues, low market demand, and operational disruption post- COVID. Banks NPA classification has restricted companys access to working capital, resulting in default. The forfeiture of shares was beyond company control..
ii. During this quarter of the Financial Year 2024-25, Bank of India did not engage in any transactions involving forfeited shares. In the preceding Financial Year 2023-24, the Bank sold 71,69,116 shares of Tijaria Polypipes Limited for a total of Rs. 4,65,27,031. During the Financial Year 2022-23, Bank of India disposed of 14,17,858 forfeited shares amounting to Rs. 76,33,435. These shares were held by directors, promoters, their relatives persons, or companies. The proceeds from the sale of these forfeited shares were credited towards the outstanding loan amount by the Bank.	The Bank of India has forfeited the shares belonging to the directors/promoters and their relatives and the directors have no objection to selling the forfeited shares by Bank of India.
iii. As management has been decided that there is not made interest provision on NPA declared Bank Loan Account since declaration of NPA by the bank i.e. 1st July 2022	As per management decision and practical reality, interest provisioning was discontinued after NPA declaration since the interest obligation is contested and under negotiation for One Time Settlement (OTS).
iv. The company has total outstanding of receivables and advances to Suppliers of Rs. 2,332 lacs as on the year period 31st March 2025 from various entities. We have circulated the independent balance confirmation for the majority of the outstanding loans and advances, however, we have not received any confirmation independently. Also, the company has not accrued any interest on the said loans & advances. Accordingly, due to lack of sufficient and appropriate audit evidence, we are unable to comment on the recoverability and existence of such loans and advances.	The company has made efforts to obtain confirmations. Delay or non-response from parties may be due to their internal constraints. Interest not accrued due to uncertainty in realization and conservative approach in revenue recognition.
v. As per Standards on Auditing (SA) - 505 External	Company has cooperated fully with the audit
Confirmation, Independent Balance confirmation for outstanding Bank Balances as on 31.03.2025 were sought during the course of audit and the response to the said confirmations were received by us	process and ensured confirmations were received for bank balances.
vi. Some of the balances of Trade Receivables and Trade payable of the Company are subject to confirmation from the respective parties and consequential reconciliation/adjustment arising there from, if any	The management is actively pursuing confirmations. Adjustments, if any, will be made once reconciliations are complete.
vii. The company has declared land and building of Rs.29.82 Lacs situated at Daulatpura, Jaipur held for sale since long times. Refer to IND AS 105 for this to be the case, the assets must be available for immediate sale in its present condition, for the sale to be highly probable, the appropriate level of management must be committed to a plan of such assets. In this regard the company management not provides any future plan to execute the same.	Due to current financial instability and market conditions, sale has been deferred. Management will initiate the process once market conditions improve.
viii. The company has a Gross Tax Asset of Rs. 26.34 Lacs as on 31st Mar 2025 pertaining to various years. The company has not provided with the status of the assessment/refund/appeal for the said Tax Assets and hence, due to lack of the information and documentary evidence, we are unable to comment on the recoverability of the tax assets or requirement of the provision, if any	Assessment status is pending with tax authorities. Company is pursuing the matter and expects resolution in due course. Delay is procedural and not indicative of recoverability issues.
ix. Management intends that the plant and machinery belonging to the Textile and Pipe Division are operable and will be to use when production activities resume in due course. Depreciation is charged under straight line method based on the determined useful life of the assets, hence depreciation is charged on the assets during this production shutdown period as per Indian Accounting Standard-16.	As per IND AS-16, depreciation is charged irrespective of production status. Assets are ready for use and maintained.
x. The Board of Directors commissioned a valuation of the Plant & Machinery for the Textile and Pipe Division by registered valuer Vijay Prakash Bhardwaj, with a valuation report dated March 31, 2025, which indicated impairment of these assets; the original purchase cost of these impaired assets totaled Rs 66.28 crores, with a Written Down Value (WDV) of Rs6.44 crores as of March 31, 2025, and following the impairment assessment, the valuer determined the revised value of the Plant & Machinery to be Rs.3.31 crores, impairment loss Rs. 3.12 Crores that has been recorded in the companys books as of March 31, 2025	Impairment recognized as per valuation by registered valuer. This reflects current market realities and conservative accounting.
xi. Income Tax including deferred tax not determined and provided for the financial year	Financial constraints and losses have led to deferral in tax computation. Will be addressed once profitability and clarity emerge.
xii. The company carries a pending loan of Rs.44 lakhs from its directors carried over from previous years, which management currently classifies as a short-term borrowing without any provision for accruing interest; furthermore, during the current year, the company obtained an additional loan of Rs.5 crores from the directors specifically to deposit with the Bank of India for a One Time Settlement (OTS) of existing loans/ dues, a resolution for which was formally passed by the Board of Directors on February 12, 2025	Director support was crucial for sustaining operations and initiating OTS. Interest-free nature reflects promoter support.
xiii. Debtors balances are subject to confirmation, the Management has ensured that the debtors outstanding at the end of the financial year will be confirmed	Confirmations are in process. Management is confident of recoverability and following up diligently.
xiv. Closing stock of Raw Materials, Stores and Spares and Finished Good subject to physical Verification, Management has ensured that the physical verification will be conducted at the end of the financial year	Management has ensured that the physical verification will be conducted at the end of the financial year
xv. The bank had declared the companys bank accounts NPA and seized it, due to which the company was not making any kind of payment from the companys bank accounts. The directors of the company continued to make payments/receipts on behalf of the company from their own bank accounts during the financial year 202425, which is in violation of section 269SS of the Income Tax Act, 1961	Payments made to ensure continuity of business and survival. Circumstances were extraordinary due to NPA status and bank account seizure.
xvi. There was no production of goods by the company during this quarter. The Company has given certain plant and machineries on rent to M/s Vasa Industries, a Partnership Firm (A related Party of the Company) in this regard in the AGM dated 29.09.2021 A Special resolution has been passed	Temporary rental of idle assets to generate revenue and reduce losses Approved through special resolution.
xvii. The company has textile segment which has been closed for a long time. Plant and Machinery and other assets belonging to Yarn Division on which depreciation charged by the company. We have been unable to find sufficient appropriate evidence as to whether the company will be able to resume production under this division. The total amount of Gross Assets as on 31.03.2025 in Textile Segment is Rs. 83.98 Crores and the Net Block of Assets is Rs. 12.69 Crores (after Impairment of Plant & Machinery) which includes the assets of Blanket Division and Yarn Division.	Non-production is due to financial crunch and working capital shortage post-NPA. Plant is maintained and ready for operations once finances and demand improve. Impairment recognized where required.

11. Secretarial Auditor:

Pursuant to the provisions of Regulation 24A and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), read with the applicable Circulars issued there under from time to time, and Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, on the recommendation of Audit Committee and Board of Directors of the company, the Board of Directors, at its meeting held on May 15, 2025,

appointed M/s Naredi Vinod & Associates, Company Secretaries, as the Secretarial Auditors of the Company for a period of five consecutive years, from April 1, 2025 to March 31, 2030 ("the Term"), on such terms and conditions, including remuneration, as may be determined by the Board of Directors (which expression shall include any Committee thereof or person(s) authorized by the Board).

The Board has also been authorized to obtain from the Secretarial Auditor, such other services, certificates, or reports as may be eligible under applicable laws, at a remuneration to be determined by the Board.

The Secretarial Audit Report in Form MR-3 for the financial year ended March 31, 2025, as issued by M/s Naredi Vinod & Associates, forms part of this report and is enclosed as Annexure-III. The report is self-explanatory and does not contain any qualification, reservation, adverse remark, disclaimer, or observation. No fraud has been reported by the Auditor.

IN. Cost Auditor:

Maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is not applicable to the company so accordingly such accounts and records are not so made and maintained.

IV. Internal Auditor:

Pursuant to provision of Section 138 of the Companies Act, 2013 and rules made there under, the Board has appointed M/s AKSA AND COMPANY., Chartered Accountants, as an Internal Auditor of the Company for financial year 2024-25 and they have completed and submitted the internal audit report for the period as per the scope defined by the Audit Committee.

In the Board meeting held on 15^th May, 2025, the Board of Directors has appointed M/s AKSA AND COMPANY, Chartered Accountants, and Jaipur, as an Internal Auditor of the Company for financial year 2025-26.

30. Corporate Social Responsibility:

Pursuant to the requirement of Section 135 of the Companies Act, 2013, a Corporate Social Responsibility (CSR) Committee was constituted. The Companys Policy on Corporate Social Responsibility is available on the website of the Company at http://www.tijaria-pipes.com/annual_reports/CSR-Policy_Tijaria.pdf.Pursuant to section 139(5), every company referred to in sub-section (1), shall ensure that the company spends, in every financial year, at least two percent of the average net profits of the company made during the three immediately preceding financial years.

Average net profits of the company made during the three immediately preceding financial years are as follows:

Financial Year	Net profit/ (loss) (Rs. In Lakhs)
2023-24	(291.64)
2022-23	(945.55)
2021-22	(2169.46)

After calculating the average net profit of three immediately preceding financial years of your company as mentioned above, it is showing that the company is incurring heavy losses.

So, your company doesnt need to spend the required expenditure on CSR activities.

31. Human Resources:

Your Company continues to be employee centric focusing on their growth and spread of knowledge to build and mature next level leadership. Further, necessary help and support is extended in case of emergency and on special occasions.

32. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

A statement giving details of conservation of energy, technology absorption and Foreign Exchange Earnings and Outgo in accordance with Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed hereto as Annexure -IV and forms part of this report.

33. Subsidiary, Associate or Joint Venture

Company has no subsidiary, associate or joint venture companies.

34. Familiarization Programme for Independent Director:

The company has familiarized the independent directors with the company, their roles, rights, responsibilities in the company, nature of the industry in which the company operates, business model of the company, etc., through various programs. The details of such familiarization programs have been disclosed on the Company website at www.tiiariapolypipes.com

34. Account marked as NPA (Non _performing Assets)

A. The Company has received a recall notice dated 04/07/2022 from Bank of India, Branch Laxmi Complex Building, Subhash Marg, C-Scheme, Jaipur-302001 Rajasthan stating that the Loan/ Facilities has been marked as Non-Performing Assets (NPA) on 30/6/2022 (w.e.f. 27/11/2020).

B. The Company has received a notice u/s 13(2) of the Securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 dated 28/07/2022 from Bank of India, Branch Laxmi Complex Building, Subhash Marg, C-Scheme, Jaipur-302001 Rajasthan stating regarding various credit facilities aggregating to an amount of Rs. 76.38 Cr. as on 28/07/2022 includes Term Loan, Cash Credit, Bank Guarantee L.C. against the following securities.

Principal Security:

Description of Security

1. Hypothecation of Stocks &Book debts.

2. Hypothecation of Plant & Machinery.

3. EQM of leasehold factory L&B Situated at SP-1, 2316, RIICO Ind.

Area, Ramchandrapura, Sitapura-Extn., Jaipur in the n/o company.

4. Pledge of TDR being 15% margin for NFBL

Collateral Security:

Description of Security

1. Extension of EQM of residential house (leasehold) situated at F-32, Ghiya Marg, Bani Park, Jaipur in the name of Mr. Alok Jain, Praveen Jain, Vineet Jain and Vikas Jain Tijaria admeasuring 563.80 sq.yds.

2. EQM of commercial land at 1356/2, Daulatpura, Tehsil: Amer jointly in The n/o company and M/s Tijaria Industries Ltd. admeasuring 11250.21 sq.yds.

3. Pledge of 30% equity of shares (8587974 Shares) of the companyheld By promoters.

4. TDR made from P&M sold in FY 2017-18.

The bank has also stated that repayment will be made with in a period of 60 days from the date of this notice dated 28.07.2022 filling which bank will exercise all or any powers u/s 13 of SARFAESI against the company.

35. Pledge Shares of Promoters Acquired By the Bank

Pursuant to regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Following Pledge Shares held by the Promoters of the Company of Tijaria Polypipes Limited was acquired by the Bank due to NPA of Loan Account.

Name of Promoter & Promoter Group	No. of Equity Shares held
01 Alok Jain Tijaria	1596513
02 Vineet Jain Tijaria	1295988
03 Praveen Jain Tijaria	1395246
04 Vikas Jain Tijaria	1522425
05 Anu Jain Tijaria	300
06 Sonal Jain Tijaria	300
07 Reema Jain Tijaria	300
08 Tijaria Vinyl Pvt. Ltd.	1276902
09 Tijaria Industries Ltd.	1500000

36. Management Discussion and Analysis Report:

In Compliance with Regulation 34 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, a separate section on Management Discussion and Analysis as approved by the Board of Directors, forms part of this Annual Report.

37. Code of Conduct:

The Board of Directors have laid down the Code of Conduct for all Directors/Senior Officers of the Company. The Code ensures the prevention of dealing in Companys shares by persons having access to unpublished price sensitive information. The Board Members and the Senior Officers have affirmed their compliance with the Code of Conduct for the year ended March 31, 2025 and a declaration signed by the Managing Director to this effect is attached and forms part of this Annual Report. The Code of Conduct is available on the website of the Company www.tijaria-pipes.com.

38. Disclosure under Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013:

A policy has been framed and adopted for prevention, prohibition and Redressal of sexual harassment at workplace in line with the provisions of Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules framed there under. An Internal Complaints Committee (ICC) has been constituted and there were no complaints reported under the Act during the year.

39. Valuation of Plant and Machinery

The Board noted that the Company had obtained a valuation report of its plant and machinery from Mr. Vijay Prakash Bhardwaj, Registered Valuer - Plant and Machinery (Registration No. CAT VII/366 OF 1973 and CAT VIII/004/cCIT/R&MP/T-3/JP/89-90).

It was further noted that the said valuation report has been utilized for the preparation and finalization of the audited financial statements of the Company for the relevant financial year, and may also serve other statutory or business purposes, as required.

The Board acknowledged the use of the valuation report in ensuring accurate and transparent representation of the Companys assets in compliance with applicable accounting and regulatory standards.

40. Acknowledgment

Your Directors take this opportunity to thank all Investors, customers, Vendors, Banks and Government authorities for their continued support. Your Directors wish to place on record their appreciation of the valuable contribution made by the employees.

	By Order of the Board of Directors
	Tijaria Polypipes Limited
Place: Jaipur	Alok Jain Tijaria	Vineet Jain Tijaria
Date: 15/05/2025	Managing Director	W.T.D. & C.F.O.
	DIN:00114937	DIN:00115029