Tree House Education & Accessories Ltd Directors Report.

Dear Members,

Your directors take great pleasure in presenting the Fifteenth Annual Reportof business and operationsof your company along with Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2021.

FINANCIAL RESULTS

The Financial Performance of your Company for the financial year ended March 31, 2021 is summarized below:

(Rs. In Lakhs)
Standalone Consolidated
Particulars 2020-21 2019-20 2020-21 2019-20
Total Revenue 563 952 563 952
Expenditures excluding depreciation 1258 911 1259 911
Profit before Depreciation and Tax (695) 41 (696) 41
Depreciation 2465 2910 2465 2910
Net Profit Before exceptional Items and Tax (3160) (2869) (3161) (2869)
Share of net profit/(loss) of associates and joint ventures accounted for using the equity method Nil Nil (1) (1)
Exceptional Items (882) Nil (882) Nil
Net Profit Before Tax (4042) (2869) (4044) (2870)
Provision for Tax 13 55 13 55
Profit after Tax (4029) (2815) (4031) (2815)
Appropriations:
Proposed Dividend on equity Shares Nil Nil Nil Nil
Tax on Dividend Nil Nil Nil Nil
Balance Carried to Balance Sheet (4029) (2815) (4031) (2815)
Paid up Share Capital 4231 4231 4231 4231
Reserves & Surplus (excluding revaluation
reserve) 24332 28362 24669 28699

*previous year figures have been regrouped/rearranged wherever necessary.

OVERVIEW OF COMPANYS FINANCIAL PERFORMANCE

The company has generated revenue from operations of Rs.529 Lakhs for the current Financial Year as compared to Rs. 276 Lakhs in the Previous Year. The Net Loss for the current Financial Year increased to Rs.4,029 Lakhs as against Rs.2,815 lakhs reported in the Previous Year. The increase in loss for the current financial year is mainly due to impairment loss of financial assets and on account of sale of assets during financial year 2019-20.

In accordance with the provisions contained in section 136 of the Companies Act, 2013 ("the Act"), the Annual Report of the Company, containing Notice of the Annual General Meeting, Consolidated and Standalone Financial Statements, Report of the Auditors and Board of Directors thereon are available on the website of the Company at www.treehouseplaygroup.netFurther, a detailed analysis of Companys performance is included in the Management Discussion and Analysis Report ("MDAR"), which forms part of this Annual report.

RESERVES AND SURPLUS

The Company has not transferred any amount to the Reserves for the financial year ended March 31, 2021. The closing balance of the retained earnings of the Company for F.Y. 2020-21, after all appropriation and adjustments was Rs. (22,455)lakhs.(previous year Rs.(18426) lakhs.)

SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES:

Your company does not have any subsidiary company. However, the Company has one associate Company viz., J T Infrastructure Private Limited.

Further, the report on the performance, financial position and overall contribution to companys profitability of each of the subsidiaries, associates and joint ventures and salient features of the financial statements in the prescribed Form AOC-1 is marked and annexed as "Annexure A" to this report.

DIVIDEND

The Company has incurred a huge loss during the year. Hence, board does not recommend any dividend on the equity shares of the Company for the year under review.

SHARE CAPITAL

During the year under review, no changes took place in the Share Capital of the Company. The issued, subscribed and paid up Equity Share Capital of the Company as on 31st March,2021 is INR 423,107,240 (Indian Rupees Forty two crores, thirty one lacs, seven thousand two hundred and forty only) comprising of 42,310,724 Equity Shares of Rs. 10 /each.

INTERNAL FINANCIAL CONTROLS

The Board of directors has laid down internal financial controls to be followed by the Company for ensuring the orderly and efficient conduct of its business and the said internal financial controls are adequate and are operating effectively. Internal Audits are regularly carried out to review the internal financial controls and the Internal Audit Reports along with recommendations contained therein are reviewed by the Audit Committee. The Company continues to ensure proper and adequate systems and procedures commensurate with its size and nature of its business.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The provisions of section 186 of the Companies Act, 2013 requiring disclosure in the financial statements giving particulars of the loans given, investment made or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised by the recipient of the loan or guarantee or security is not applicable to your company as no transactions of such nature has been undertaken or entered into by your company.

PUBLIC DEPOSITS

Your Company has not accepted any public deposits and as such no amount on account of principal or interest on public deposit under sections 73 and 74 of the Companies Act, 2013 read together with the Companies (Acceptance of Deposits) Rules, 2014 was outstanding as on the date of the Balance Sheet.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, in relation to the Audited Financial Statements for the Financial Year 2020-21. Your Directors confirm that:

a) The Financial Statements of the Company for the year ended March 31, 2021, have been prepared on a going concern basis following applicable Indian accounting standards and that no material departure have been made from the same;

b) In the preparation of the annual accounts for the financial year ended March 31, 2021, the applicable Indian accounting standards, have been followed along with proper explanation relating to material departures;

c) Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your company as at March 31, 2021and of the profits and loss of the company for financial year ended March 31, 2021.

d) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 to safeguard the assets of the Company and for preventing and detecting fraud and other irregularities.

e) Requisite internal financial controls laid down and that financial controls are adequate and were operating effectively; and

f) Proper systems to ensure compliance with the provisions of all applicable laws in place and that such systems were adequate and operating effectively.

DIRECTORS AND KEY MANAGERIAL PERSONNELs

Your Companys Board comprises of mix of executive and non-executive directors with considerable experience and expertise in various fields and business strategy. The details of the directors and their meetings held during the year have been given in the Corporate Governance Report, which forms part of this report.

The list of Directors & Key Managerial Persons of the Company as on March 31, 2021are as follows:

1. Mr.Suraj Manghnani (DIN: 06625583), Independent Director.

2. Mr.Deepak Valecha (DIN: 07736480), Independent Director.

3. Mr.Jugal Shah (DIN: 08334114), Executive Director & Chairman.

4. Mrs.Babita Bhatia (DIN: 08767969) Non-Executive Non-Independent Woman Director.

5. Ms.Nidhi Busa (DIN: 08792362) Non-Executive Independent Woman Director.

6. Mr.Milin Ramani (DIN: 07697636) Non-Executive Independent Director.

7. Mr. Rajesh Bhatia (PAN: AAHPB9438N), Chief Executive Officer (CEO).

8. Mr.Navin Kumar Mane (PAN: ATBPK9664Q), Chief Financial Officer (CFO).

9. Ms.Guddi Bajpai (PAN: AWYPB2768G), Company Secretary & Compliance Officer. a) Changes in Directors and Key Managerial Personnels:

During the year under review, the following changes took place in the directors and key managerial personnels;

1. Mrs. Babita Bhatia (DIN: 08767969) was appointed as Additional Non- Executive Non Independent Woman Director of the Company w.e.f. June, 23, 2020 and was regularised as Non- Executive Non Independent Woman Director in 14th Annual General Meeting held on November 21, 2020.

2. Ms.Nidhi Busa (DIN: 08792362) was appointed as Additional Non- Executive Independent Woman Director of the Company w.e.f. 01st September, 2020 and was regularised as Non- Executive Independent Woman Director in 14th Annual General Meeting held on November 21, 2020.

3. Mr.Milin Ramani (DIN: 07697636) was appointed as Additional Non- Executive Independent Director of the Company w.e.f. 01st September, 2020 and was regularised as Non- Executive Independent Director in 14th Annual General Meeting held on November 21, 2020.

Pursuant to provisions of section 152 of the Companies Act, 2013 and subject to Articles of Association, Mrs. Babita Bhatia (DIN: 08767969)Non- Executive Non Independent Woman Director, of the Company is liable to retire by rotation at an ensuing Annual General Meeting and, being eligible has offered herself for re-appointment.The Board has recommended for the same. Details about the directors being appointed and/or re-appointed are given in the Notice of the 15thAnnual General Meeting being sent to the members along with the Annual Report.

None of the Directors are disqualified for being appointed as the Director of the Company in terms of section 164 of the Companies Act, 2013. During the year under review, the Non-Executive Directors of the Company had no pecuniary relationship or transactions with the Company, other than sitting fees, commission, perquisites and reimbursement of expenses incurred by them for the purpose of attending meetings of the Board / Committees of the Company.

b) Declaration by Independent Director(s)

Your Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under the provisions of section 149(6) of the Companies Act, 2013 and there is no change in the circumstances as on the date of this report which may affect their respective status as an independent director.In the opinion of the board, the independence directors possess the requisite expertise and experience and are the person of integrity and repute. Your Board confirms that in its opinion the independent directors fulfil the conditions prescribed under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the SEBI Listing Regulations") and they are independent of the management. All the independent directors on the Board of the Company have complied with the provisions of Section 150 of the Companies Act, 2013 read with rules framed thereunder.

Furthermore, a brief profile of each of these Independent Directors, nature of their expertise in specific functional areas and names of the Companies in which they hold Directorships and/or membership/chairmanship of Committees of the Board, as stipulated under specified regulation of the SEBI Listing Regulations is given in the Corporate Governance Report which is forming part of this Report.

c) Annual Evaluation of the Board

Evaluation of the directors is done on an annual basis. The process is led by the Nomination and Remuneration Committee with specific focus on the performance vis-a-vis the plans, meeting, challenging situations, performing leadership role within, and effective functioning of the Board. The evaluation process also involves Self-Evaluation by the Board Member and subsequently assessment by the Board of Directors and also considers the time spent by each of the directors, accomplishment of specific responsibilities and expertise, conflict of interest, integrity of director, active participation and contribution during discussions.

d) Policy on directors appointment and remuneration and other details

The Companys policy on directors appointment and remuneration and other matters provided in Section 178(3) of the Act can be assessed on the link.

http://www.nseprimeir.com/z_TreeHouse/pdf-files/Treehouse_Terms_ConditionsofID_300914.pdf

e) Familiarisation Programme For Independent Directors

Independent Directors are familiarised with their roles, rights and responsibilities in the Bank as well as with the nature of industry and business model of the company through various internal programmes and through presentations on economy & industry overview, key regulatory developments, strategy and performance which are made to the Directors from time to time.

BOARD MEETING AND BOARD COMMITTEES

The details of Board Meetings held during the year, attendance of the directors at the meetings and constitution of various Committees of the Board are included separately in the Corporate Governance Report which forms part of this report.

CORPORATE GOVERNANCE

Your Company has complied with Regulation 34 of the SEBI Listing Regulations. A separate report on Corporate Governance as stipulated under Regulation 34 of the SEBI Listing Regulations along with Independent Auditors Certificate on compliance with the Corporate Governance, forms part of this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT (MDAR)

A detailed analysis of your Companys performance is discussed in the Management Discussion and Analysis Report, which forms part of this Annual Report.

DISCLOSURES RELATING TO REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND PARTICULARS OF EMPLOYEES.

Disclosure of the ratio to the remuneration of each director to the median employees remuneration and other details required pursuant to section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided as "Annexure B".

PARTICULARS OF EMPLOYEES:

During the year under review, there are no employees who comes within the purview of Section 134 (3)(q) of the Companies Act, 2013 read with Rule 5(2) & 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

AUDITORS

a) Statutory Auditors

The Statutory Auditors, M/s. S. Dedhia & Co. Chartered Accountants having ICAI Firm Registration No. 117695W, was appointed in 11th Annual General Meeting to hold office till conclusion of 16th Annual General Meeting (i.e. for a term of five consecutive years) subject to ratification in appointment by the members at every Annual General Meeting. The requirement to place the matter relating to ratification in appointment of Auditors by Members at every Annual General Meeting is done away vide notification dated May 7, 2018 issued by the Ministry of Corporate Affairs, New Delhi. Accordingly, no resolution is proposed for ratification of appointment of Auditors.

M/s. S. Dedhia & Co., Chartered Accountants have expressed their willingness to continue as Statutory Auditors of the Company and have submitted a certificate confirming that their appointment is in accordance with Section 139 read with Section 141 of the Act.

The Independent Auditors Report of M/s. S. Dedhia & Co., on the Financial Statements of the Company for the Financial Year 2020-21is a part of the Annual Report. There are no qualifications, reservations or adverse remarks or disclaimers made by M/s. S. Dedhia & Co. in their Report dated June 25, 2021.Further, the Auditors of the Company have not reported any fraud as specified under section 143(12) of the Companies Act, 2013.

b) Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company has appointed M/s Kaushal Doshi & Associates, Practicing Company Secretaries to conduct the Secretarial Audit of the Company for the financial year ended March 31, 2021.

The Secretarial Audit Report is annexed herewith as "Annexure C". The qualifications / observations, made by M/s Kaushal Doshi & Associates in their Report, are self explanatory.

c) Cost Auditors

The company is required to maintain cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013 and accordingly such accounts and records are made and maintained by the Company. The Board of Directors had appointed M/s. Kishore Bhatia & Associates, Cost Accountants, as the Cost Auditors of your Company for the financial year 2020-21 to conduct the audit of the cost records of your Company.

Pursuant to Section 148 and other applicable provisions, if any of the Companies Act, 2013 read with Companies (Cost record and Audit) Rules, 2014, the Board of Directors of your Company has appointed M/s. Kishore Bhatia & Associates, Cost Accountants as the Cost Auditor for the financial year 2021-22 on the recommendations made by the Audit committee. The remuneration proposed to be paid to the Cost Auditor, subject to the ratification by the members at the ensuing AGM, would be not exceeding INR 20,000 (Rupees Twenty Thousand Only) excluding taxes and out of pocket expenses, if any. Your directors recommend the ratification in remuneration payable to the Cost Auditors of the Company at ensuing Annual General Meeting.

Your company has received consent from M/s. Kishore Bhatia & Associates, Cost Accountants, to act as the Cost Auditor of your company for the financial year 2021-22 along with certificate confirming their Independence.

Further, the Company has made an application to Ministry of Corporate Affairs ("MCA") for claiming exemption under section 148 of the Companies Act, 2013, as the provisions of Cost Audit are not applicable to the Company from F.Y. 2020-21 onwards. The Company is yet to receive clarification from MCA in this regard and on directions of the MCA, the Company will be complying with the provisions of Cost Audit from F.Y. 2020-21 onwards.

d) Internal Auditor:

M/s.Dharmesh Parekh & Associates., Practicing Chartered Accountant, Mumbai performed the duties of internal auditors of the company for the Financial Year 2020-21 and their report is reviewed by the audit committee from time to time.

ANNUAL RETURN

Pursuant to Section 92(3) of the Act and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return for F.Y. 2020-21 is available on Companys website athttps://primeinfobase.in/z_TreeHouse/files/Draft_Annual_Return_MGT_7_2020-21.zip

RELATED PARTY TRANSACTIONS

During the Financial Year 2020-21, your Company has entered into transactions with related parties as defined under Section 2(76) of the Companies Act, 2013 read with Companies (Specification of Definitions Details) Rules, 2014, which were in the ordinary course of business and on arms length basis and in accordance with the provisions section 188 of the Companies Act, 2013, and Rules made thereunder read with Regulation 23 of the SEBI Listing Regulations, 2015. However, the Company has not entered into any material related party transactions under the SEBI Listing Regulations, 2015 read with section 188 of the Companies Act, 2013; therefore Form AOC-2 does not form part of this report.

The details of the related party transactions as required under "Ind. As 24" are set out in Note Nos. 33 to the standalone financial statements forming part of this Annual Report.

The Policy on related party transactions may be accessed on the Companys website at a link: http://www.nseprimeir.com/z_TreeHouse/pdf-files/TREEHOUSE_POLICY_ON_RELATED_PARTY_TRANSACTION_Policy.pdf

VIGIL MECHANISM & WHISTLE BLOWER POLICY:

In Compliance with Section 177(9) of the Companies Act, 2013 read with Regulation 22 of the SEBI Listing Regulations, the Company has adopted a vigil mechanism/Whistle Blower Policy. The Companys vigil mechanism/ Whistle blower Policy aims to provide the appropriate platform and protection for Whistle Blowers to report instances of fraud and mismanagement, if any, to promote reporting of any unethical or improper practice or violation of the Companys Code of Conduct or complaints regarding accounting, auditing, internal controls or suspected incidents of violation of applicable laws and regulations including the Companys code of conduct or ethics policy or Code of Conduct for Prevention of Insider Trading in the Company, Code of Fair practices and Disclosure. The Vigil Mechanism provides a mechanism for employees of the Company to approach the Chairman of the Audit Committee of the Company for redressal.

The Policy on Vigil Mechanism & Whistle Blower may be accessed on the Companys website at ahttps://primeinfobase.in/z_TreeHouse/pdf-files/Treehouse_WhistleBlowerPolicy_Revised_14022016.pdf

RISK MANAGEMENT

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. The company has been addressing various risks impacting the company and brief view of the company on risk management is provided elsewhere in this annual report in Management Discussion and Analysis Report.

INTERNAL CONTROL SYSTEM AND ITS ADEQUACY

The Company has adequate internal controls and processes in place with respect to its financial statements which provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements. The processes and controls are reviewed periodically. The Company has a mechanism of testing the controls are regular intervals for their design and operating effectiveness to ascertain the reliability and authenticity of financial information. During the year such controls were tested and no reportable material weakness in the design or operation was observed.

CORPORATE SOCIAL RESPONSIBILITY

The Company does not come under the purview of the provisions of section 135 of the Companies Act, 2013 read with the rules prescribed therein, relating to Corporate Social Responsibility.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

The operations of the Company are entirely service based and the Company is non-energy intensive organization. Conservation of energy and technology absorption information pursuant to section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company.

However, the Company makes all efforts towards conservation of energy, protection of environment and ensuring safety.

Foreign Exchange Earnings: NIL

Foreign Exchange Outgo: NIL

HUMAN RESOURCES

Your Company treats its "human resources" as one of its most important assets.

The Directors wish to place on record their appreciation and acknowledgment of the efforts and dedication and contributions made by employees at all levels during the year under review. The Company continues to focus on attracting new talent & help them to acquire new skills, explore new roles and realize their potential.

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

There were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and redressal.) Act, 2013.The Company has complied with provisions relating to the constitution of Internal Complaints

Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Reddressal) Act, 2013and also filed its Annual Report as required under the said Act. The Company has a qualified Internal Committee, who along with the external member review the policy and framework on a regular basis. Additionally, the company ensures that every new employee undergoes an awareness program which will sensitise them to uphold the dignity of their colleagues at workplace, particularly with respect to prevention of sexual harassment.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

During the period under review, your Company had Rs.38,296/- lying in unpaid or unclaimed dividend account for a period of seven years out of which Rs.15,303 was required to be transferred to investor Education and Protection Fund (IEPF).

Pursuant to the provisions of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the Company has already filed the necessary forms and uploaded the details of unpaid and unclaimed amounts lying with the Company, as on the date of last AGM (i.e. November 21, 2020), with Ministry of Corporate Affairs.

Further, the Members may note that the Company will be transferring the un-paid/unclaimed dividend and the respective shares to the IEPF Authority for its un-paid/unclaimed dividend account of the financial year 2013-14 which is due in October, 2021. The Company has sent individual correspondence to respective shareholders and published newspaper advertisement for claiming the un-paid/unclaimed dividend in respect of which dividend has not been en-cashed or claimed by the shareholders for 7 consecutive years or more. The shareholders are once again requested to claim their un-paid/unclaimed dividend to avoid the transfer to IEPF.

Members who have not yet en-cashed their Final Dividends for financial year 2013-14 and 2014-15 and thereafter are requested to make their claims to the Company / RTA. Members are requested to quote folio numbers / DP ID Client ID in all their correspondence.

EMPLOYEES STOCK OPTION SCHEME

During the year, the Company did not grant any Employees Stock Option Scheme. However, the Details of ESOP Scheme as required under Rule 12(9) of Companies (Share Capital and Debentures) Rules, 2014 and as required to be provided under the Securities and Exchange Board of India(Share Based Employee Benefits) Regulations, 2014 as on March 31, 2021 are available on website of the company and can be assessed at link :-https://primeinfobase.in/z_TreeHouse/files/ESOP_details_as_on_31.03.2021.zip

CEO/CFO CERTIFICATION:

In terms of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 the certification by the Chief Executive Officer and Chief Financial Officer on the financial statements and Internal Controls relating to financial reporting has been obtained and annexed as "Annexure D" to this Report.

IMPACT OF COVID 19 ON THE COMPANY

Impact of Covid 19 on the Company has been explained in Management Discussion and Analysis Report which forms part of this report.

MISCELLANEOUS

The Company does not have any equity shares with differential rights.;

During the year, your Company has not issued any sweat equity shares. Therefore, no disclosures as required under Rule 8 (13) of Companies (Share Capital and Debentures) Rules, 2014;

During the year under Report, no funds were raised through preferential allotment or qualified institutional placement.

The Company has received an order from Securities Appellate Tribunal("SAT") Mumbai dated November 07, 2019, Appeal No. 78 of 2019 where it has quashed and set aside the impugned orders (both the confirmatory order dated November 16, 2018 and ad interim ex parte order dated March 7, 2018) restraining the appellants (i.e. the Company, Rajesh Bhatia, Geeta Bhatia, Giridharilal Bhatia, Vishal Shah and Hiten Trivedi) from dealing in the securities market in any manner. However, direction relating to forensic audit of Tree House was upheld.

Further as ordered by SAT, the Company is fully cooperating with the forensic Auditor to enable the Auditor to carry out and complete the forensic audit at the earliest.

There were no material changes and commitments occurred between and the end of financial year of the company affecting the financial position of the Company. Further, there has been no change in the nature of business of the Company. However, due to Covid 19, company has adapted to online education due to closure of all physical pre-school centres. In addition, post financial year the Board of Directors of the Company on recommendation of the Audit Committee has resolved to sell, dispose or write off of movable assets of the Company lying with company from many years in different closed owned & franchisee converted centres and in warehouse of the Company amounting to Rs. 69,38,73,714/- subject to the approval of shareholders at ensuing Annual General Meeting.

The Company has complied with Secretarial Standards on meetings of the Board of Directors and on General Meetings, issued by the Institute of Company Secretaries of India in terms of Section 118(10) of the Companies Act, 2013.

ACKNOWLEDGEMENT

Your Board takes this opportunity to express their sincere appreciation for the excellent patronage received from the shareholders, investors, bankers, customers, business partners, vendors, financial institutions, regulatory, government authorities and other stakeholders for the continued enthusiasm, total commitment, dedicated efforts of the executives and employees of the Company at all levels during the year under review.

The Directors also thank the Government of India, Governments of various states in India and concerned Government departments and agencies for their co-operation. The Directors deeply regret the losses suffered due to the Covid-19 pandemic.

For and on behalf of the Board

Tree House Education and Accessories Limited

Sd/- Sd/-
Jugal Shah Deepak Valecha
Executive Director Independent Director
(DIN: 08334114) (DIN: 07736480)
Date: 12th August, 2021
Place: Mumbai