Tree House Education & Accessories Ltd Directors Report.

Dear Members,

Your directors take great pleasure in presenting the Fourteenth Annual Report of business and operations of your company along with Audited Standalone and Consolidated Financial Statements for the financial year ended March 31,2020.

FINANCIAL RESULTS

The Financial Performance of your Company for the financial year ended March 31,2020 is summarized below:

(Rs. In Lakhs)

Particulars

Standalone

Consolidated

2019-20 2018-19 2019-20 2018-19
Total Revenue 952 469 952 472
Expenditures excluding depreciation 911 939 911 939
Profit before Depreciation and Tax 41 (470) 41 (467)
Depreciation 2910 3245 2910 3245
Net Profit Before exceptional Items and Tax (2869) (3715) (2869) (3712)
Share of net profit/(loss) of associates and joint ventures accounted for using the equity method Nil Nil (1) 395
Exceptional Items Nil 498 Nil 498
Net Profit Before Tax (2869) (4213) (2870) (3815)
Provision for Tax (55) (7) (55) (7)
Profit after Tax (2815) (4206) (2815) (3808)
Appropriations:
Proposed Dividend on equity Shares Nil Nil Nil Nil
Tax on Dividend Nil Nil Nil Nil
Balance Carried to Balance Sheet (2815) (4201) (2815) (3803)
Paid up Share Capital 4231 4231 4231 4231
Reserves & Surplus 27807 30621 28144 30960

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

OVERVIEW OF COMPANYS FINANCIAL PERFORMANCE

During year the Company has incurred a loss of INR 2815 lakhs after tax against loss of INR 4201 lakhs after tax in previous year.

SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES:

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

The particulars of Associate Companies/Joint Venture as on March 31,2020 have been included in form MGT-9 which can be assessed on the link:- https://www.nseprimeir.com/z_TreeHouse/files/MGT_-9_31.03.2020.zip

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 paid up Equity Share Capital of the Company as on 31stMarch, 2020 isINR 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 Section 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 2019-20. Your Directors confirm that:

a) The Financial Statements of the Company for year ended March 31, 2020, 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, 2020, 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 31,2020 and of the profits and loss of the company for financial year ended March 31,2020.

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 OTHER KEY MANAGERIAL PERSONNEL

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 31,2020 are 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

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

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

6. Ms. Guddi Bajpai (PAN: AWYPB2768G), Company Secretary & Compliance Officer

a) Changes in Directors and Key Managerial Personnel:

During the year under review and till the date of this Report, the following changes took place in the Board of Directors and the Key Managerial Personnel of the Company:

1. Mrs. Amita Karia (DIN: 07068393) has resigned from the post of Independent Woman Director of the Company w.e.f. March 12, 2020.

2. Mrs. Babita Bhatia (DIN: 08767969) has been appointed as Additional Non-Executive Non Independent Woman Director w.e.f. June 23, 2020.

3. Ms. Nidhi Busa (DIN: 08792362) has been appointed as Additional Non-Executive Independent Woman Director w.e.f. September 01,2020.

4. Mr. Milin Ramani (DIN: 07697636) has been appointed as Additional Non-Executive Independent Director w.e.f. September 01,2020

Pursuant to provisions of section 152 of the Companies Act, 2013 and subject to Articles of Association, Mr. Jugal Shah, Director of the Company is liable to retire by rotation at an ensuing Annual General Meeting and, being eligible has offered himself for re-appointment.The Board has recommended for the same. Details about the directors being appointed/ re-appointed are given in the Notice of the 14thAnnual 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. Your Board confirms that in its opinion the independent directors fulfil the conditions prescribed under the SEBI (LODR), Regulations,2015 and they are independent of the management. All the independent directors on the Board of the Company are registered with the Indian Institute of Corporate Affairs, Manesar, Gurgaon ("IICA") as notified by the Central Government under Section 150(1) of the Companies Act, 2013 and as applicable shall undergo online proficiency self-assessment test within the time prescribed by the IICA.

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 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulation") 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 SelfEvaluation 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 SEBI (Listing Obligations and Disclosure Regulations) Requirements, 2015 of the stock exchanges. A report on Corporate Governance as stipulated under Regulation 34 of SEBI (Listing Obligations and Disclosure Regulations) Requirements, 2015 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 from the conclusion of 11th Annual General meeting till conclusion of 16th Annual General Meeting (i.e. for a term of consecutive five years)subject to ratification of the 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 2019-20is 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 July 09, 2020.

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 31,2020.

The Secretarial Audit Report is annexed herewith as "Annexure C". There are no qualifications, made by M/s Kaushal Doshi & Associates in their Report, however observation made by them 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 2019-20 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 2020-21 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 approval of said remuneration to the Cost Auditors of the Company.

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 2020-21 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 2019-20 and their report is reviewed by the audit committee from time to time.

Auditors report and Secretarial audit report

The statutory auditors report and the secretarial audit report do not contain any qualifications, reservations, adverse remarks or disclaimer however observation by secretarial auditor are self explanatory.

EXTRACT OF THE ANNUAL RETURN

The extract of the Annual Return of the Company as on March 31,2020 in Form MGT-9 in accordance with Section92 (3) of the Act read with Companies (Management and Administration) Rules, 2014, is available on the website of the Company at https://www.nseprimeir.com/z_TreeHouse/files/MGT_-9_31.03.2020.zip

RELATED PARTY TRANSACTIONS

During the Financial Year 2019-20, 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 (LODR) Regulations, 2015. However, the Company has not entered into transactions with related parties which qualify as material transactions under the SEBI (LODR) Regulations, 2015 and provisions of 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. 32 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:

The Board has approved and adopted Vigil Mechanism that provides a formal mechanism for all Directors and employees of the Company to approach the Chairman of the Audit Committee of the Board and make protective disclosures about the unethical behaviour, actual or suspected fraud. The Vigil Mechanism comprises the Whistle Blower Policy which requires every Director or employee to promptly report to the Management any actual or possible violation of the Code or any event wherein he or she becomes aware of that which could affect the business or reputation of the Company. Under the Policy, every Director or employee of the Company has an assured access to the Chairman of the Audit Committee.

The Policy on Vigil Mechanism & Whistle Blower may be accessed on the Companys website at a link:http://www.nseprimeir.com/z_TreeHouse/pdf-files/Treehouse_WhistleBlowerPolicy_Revised_14022016.pdf

RISK MANAGEMENT

The risk management is overseen by the Audit Committee of the Company on a continuous basis to identify, assess, monitor and mitigate various risks to key business objectives.

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 Board of Directors at its meeting held on February 06, 2015 approved the Corporate Social Responsibility (CSR) Policy for your Company pursuant to the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility policy) Rules, 2014, on the recommendations of the CSR committee. The Corporate Social Responsibility Policy may be accessed on Companys website at a link:

http://www.nseprimeir.com/z_TreeHouse/pdf-files/Treehouse_CorporateSocialResponsibilityPolicy_070215.pdf Further section 135 of the Companies Act, 2013 states as under :

(1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.

(2) The Boards report under sub-section (3) of section 134 shall disclose the composition of the Corporate Social Responsibility Committee.

Further, as per Rule 3 of the Companies (Corporate Social Responsibility Policies), Rules, 2014, every company which ceases to be a company covered under subsection (1) of section 135 of the Act for three consecutive financial years shall not be required to; (i) constitute a CSR Committee (ii) comply with the disclosure under Boards Report (iii) spent at least two per cent. of the average net profits of the company made during the three immediately preceding financial years

Accordingly, the Board of Directors on the recommendation of CSR Committee at their Meeting held on 12.02.2020 have dissolved the CSR Committee formed under provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, as during the preceding three consecutive financial years, the Company does not have net worth of rupees five hundred crore or more, nor its turnover is one thousand crore or more and, has also incurred a loss. Thus provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility policy) Rules, 2014 is not applicable to the Company from F.Y. 2019-20 onwards.

Further, the company ensures that it will comply with the provisions and rules of the Companies Act 2013 relating to Corporate Social Responsibility, whenever it will be applicable to the Company.

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

The requirements of disclosure with regard to Conservation of Energy in terms of Section 134 of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014, are not applicable to the Company since it doesnt own any manufacturing facility.

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.

Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focussed people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement..

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 Redressal) Act, 2013 and 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. During the year, no such case was reported.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

For the year under preview your Company did not have any funds lying unpaid or unclaimed for a period of Seven years. Therefore there were no funds which were required to be transferred to investor Education and Protection Fund (IEPF).

Pursuant to the provisions of the Investor Education Protection Fund (Uploading of Information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, 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. September 12, 2019), with Ministry of Corporate Affairs.

Further, the Members may note that the Company will be transferring the un-paid/unclaimed dividend and the shares to the IEPF Authority for its un-paid/unclaimed dividend Account of the financial year 2012-13 which is due in October, 2020. The Company had 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 members for 7 consecutive years or more. The shareholders are once again requested to claim their unpaid / unclaimed to avoid the transfer to IEPF.

Members who have not yet en-cashed their Final Dividends for financial year 2012-13 and 2013-14 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 31,2020 are available on website of the company and can be assessed at link: https://www.nseprimeir.com/z_TreeHouse/files/ESOP_details_as_on_31.03.2020.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 which forms part of this report. Further, pursuant to SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 issued by the Securities and Exchange Board of India dated May 20, 2020, the Company has made Disclosure of material impact of COVID-19 pandemic to the Stock Exchanges.

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) as far as the directions restraining the appellants 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 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.

• 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.

ACKNOWLEDGMENT

Your Directors take this opportunity to thank the government, regulatory bodies, shareholders and other stakeholders at large for their consistent support and also place on record appreciation to the contribution made by Companys staff and teachers at all levels, without whom the Company would not have achieved the desired growth. The Directors also commend the continuing commitment and dedication of the employees at all levels which has been critical for the Companys growth. The Directors look forward to their continued support in future.

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: 11th September, 2020
Place : Mumbai