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KEN Financial Services LtdIndustry : Finance & Investments
BSE Code:530547NSE Symbol: Not ListedP/E(TTM):21.25
ISIN Demat:INE395E01018Div & Yield %:0EPS(TTM):0.76
Book Value(Rs):24.181427Market Cap ( Cr.):4.85Face Value(Rs):10
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To,

The Members,

Ken Financial Services Limited

Your Directors have pleasure in presenting the Annual Report on the Business and Operations of the Company together with the Audited Statement of Accounts of the Company for the financial year ended on March 31, 2025.

1. Financial Results:

The financial results are summarized below:

(Amount in Hundreds)

Particulars

For the year ended March 31, 2025 For the year ended March 31, 2024
A Total Income 59,888 58,007
B Total Expenses 48,524 46,544
C Profit/(Loss) Before Tax 11,364 11,463
D Tax expense:
- Current Tax 2,980 3,840
- Deferred Tax 12 (59)
E Profit/(Loss) after Tax 8,372 7,682

2. Financial Performance:

During the year, the Company has earned Total Income of Rs.59,888/- hundreds in comparison to Rs.58,007/- hundreds during the previous year. The Net Profit after tax is Rs.8,372/- hundreds in comparison with Rs.7,682/- hundreds during the previous year. Your directors are of the opinion of performing better in forthcoming year.

There is no change in the nature of business carried on by the Company during the financial year ended March 31, 2025.

3. Dividend & Reserves:

For the expansion of business and for general corporate requirements, the Board of Directors of your Company has decided that it would be prudent, not to recommend any dividend on the Equity Shares of the Company for the financial year ended March 31, 2025 and no amount of profit earned during the year was transferred to General Reserve.

4. Listing with Stock Exchanges:

The Equity Shares of the Company are listed on BSE Limited (“BSE”).

5. Management Discussion & Analysis:

The Company is a non-systemically important non-deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) since March 24, 1998, with registration number 13.00423 and classified as NBFC-Investment and Credit Company (NBFC-ICC) pursuant to circular DNBR (PD) CC.No.097/03.10.001/2018-19 dated 22nd February, 2019. The Company is mainly engaged in the business of financing and continues to comply with all the rules, regulations and the guidelines issued by RBI. There are no material changes between the end of the financial year and the date of the report which may affect the financial position of the Company. Management Discussion & Analysis report is being given under Corporate Governance Report.

6. Dematerialization of Shares:

99.40% of Company's paid-up Equity Share Capital is in dematerialized form as on March 31, 2025 and the balance 0.60% is in physical form. The Company's Registrar and Transfer Agent is M/s. Purva Sharegistry (India) Private Limited having their registered office at Unit No.9, Shiv Shakti Industrial Estate, Gr. Floor, J R Boricha Marg, Lower Parel, Mumbai - 400 011.

7. Internal Financial Controls:

Internal Financial Controls have been documented, automated wherever possible and embedded in the respective business processes. Assurance to the Board on the effectiveness of Internal Financial Controls is obtained through 3 Lines of defense which include:

a) Management reviews and self-assessment;

b) Continuous controls monitoring by functional experts; and

c) Independent design and operational testing by the Internal Audit function.

The Company believes that these systems provide reasonable assurance that the Company's Internal Financial Controls are adequate and are operating effectively as intended.

8. Finance & Accounts:

The Company is having adequate resources at its disposal to meet its business requirements and for efficient conduct of business. The Company has not raised any funds by issue of any securities during the year.

Company has adequate financial resources at its disposal for carrying on its business. Our company is required to prepare financial statements under Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015.

The estimates and judgments relating to financial statements are made on prudent basis, so as to reflect in a true and fair manner, the form and substance of transactions and reasonably present the Company's state of affairs for the F.Y. 2024-25.

9. Subsidiaries, Joint Ventures and Associates Companies:

The Company does not have any Subsidiaries/ Joint Ventures/ Associate Companies.

Hence the statement containing salient features of the financial statement of Subsidiaries/ Joint Ventures/ Associate Companies pursuant to first proviso to sub-section (3) of Section 129 read with rule 5 of Companies (Accounts) Rules, 2014 under Form AOC-1, is not applicable to the Company.

10. Deposits:

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

11. Statutory Auditors:

(a) M/s. Satya Prakash Natani & Co. (having Firm Registration No. 115438W), Chartered Accountants, Mumbai, hold office till the conclusion of the ensuing Annual General Meeting and being eligible offers themselves for reappointment.

The Board recommends the reappointment of M/s. Satya Prakash Natani & Co. (having Firm Registration No. 115438W), Chartered Accountants, Mumbai as the Statutory Auditors of the Company for a term of five consecutive years i.e. from the conclusion of the ensuing Annual General Meeting till the conclusion of the Annual General Meeting to be held in the year 2030 for the approval of the members of the Company.

(b) The Auditors' Report is unmodified i.e. it does not contain any qualification, reservation or adverse remark or disclaimer.

12. Secretarial Auditors:

(a) Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed M/s. Abhilasha Chaudhary & Associates, Practicing Company Secretary, Mumbai, as the Secretarial Auditor of the Company for the F.Y. 2024-25.

(b) The Secretarial Audit Report for the financial year ended March 31, 2024 is annexed as Annexure A. The Secretarial Audit Report is unmodified i.e. it does not contain any qualification, reservation or adverse remark or disclaimer.

(c) As per Regulation 24A(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board recommends the appointment of M/s. N. Bagaria & Associates (having Firm Unique Identification No. P2007MH008300 and Peer Review Certificate No. 1020/2020), Practicing Company Secretaries, Mumbai as the Secretarial Auditors of the Company to conduct secretarial audit for a first term of 5 (five) consecutive years commencing from the financial year 2025-26 till the financial year 2029-30 for the approval of the members of the Company.

13. Internal Auditors:

The internal audit function provides an independent view to the Board of Directors, the Audit Committee and the Senior Management on the quality .and efficacy of the internal controls, governance systems and processes. The Internal Auditor monitors and evaluates the efficacy & adequacy of internal financial controls & internal control system in the Company that has been put in place to mitigate the risks faced by the organization and thereby achieves its business objective.

In terms of Section 138 of Companies Act, 2013 and Rules made thereunder, M/s. P N S V & Co., Chartered Accountants are the Internal Auditors of the Company.

14. Cost Auditors:

The provisions of Cost Audit as prescribed under Section 148 of the Companies Act, 2013 are not applicable to the Company.

15. Reporting of Fraud by Auditors:

During the year, the Statutory Auditors and Secretarial Auditor have not reported, any incident of fraud committed in your Company by its Officers or Employees, to the Audit Committee and / or to the Board under Section143(12) of the Companies Act, 2013.

16. Annual Return:

Pursuant to Section 92(3) and 134(3)(a) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the copy of Annual Return can be accessed at Company's website at www.ken-fin.com.

17. Foreign Exchange Earnings / Outgo:

The Company has neither incurred any expenditure nor earned any income in foreign exchange.

18. Particulars Regarding Conservation of Energy, Technology Absorption:

Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 requires disclosure of particulars regarding conservation of Energy and Technology absorption.

The Company is not having manufacturing facilities of its own; therefore, the information as required under this clause is not applicable to the Company.

19. Unsecured Loans from Directors:

The Company has not received any loan (secured/ unsecured) from the Directors of the Company during the year under review.

20. Corporate Social Responsibility (CSR):

The Company does not fall under the prescribed class of companies' u/s 135(2) of the Companies Act, 2013 read with Rule 8 of the Companies (Corporate Social Responsibility) Rules, 2014. Hence CSR is not applicable to the Company.

21. Human Resources:

The Company has highly committed, loyal and dedicated team. The Company promotes an atmosphere which encourages learning and informal communication within the organization.

The Company is having Performance Management System to objectively measure the performance of the individual and the organization. The overall remuneration structure is linked with such system. The other required safety norms were followed throughout the company.

22. Meetings of the Board:

The Board of Directors of the Company duly met 6 (six) times during the F.Y. 2024-25 on 30-05-2024, 25-07-2024, 13-08-2024, 14-11-2024, 21-11-2024 and 21-01-2025. Details of the meetings and attendance thereat form part of the Corporate Governance Report.

The gap between two Board meetings was within the limit prescribed under Section 173(1) of the Companies Act, 2013 and Regulation 17(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

23. Disqualification of Directors:

During the year, the Company has received Form DIR-8 from all Directors as required under the provisions of Section 164(2) of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014 that none of the Directors of your Company is disqualified to hold office as director and debarred from holding the office of a Director.

24. Board of Directors and Key Managerial Personnel:

(i) Cessation of Independent Director:

Mr. Manoj Kumar More (holding DIN 00040190), Independent Director of the Company, completed his second and final term as an Independent Director and consequently ceased to be a Director of the Company w.e.f. 30th May, 2024.

(ii) Appointment of Additional Director - Independent Director:

The Board of Directors of the Company appointed Mr. Rajesh Babulal Sodani (holding DIN 05010096), as an Additional Director - Independent Director on the Board with effect from 30th May, 2024.

Subsequently, the members of the Company, at their 30th AGM held on Friday, 23rd August, 2024, appointed Mr. Rajesh Babulal Sodani as an Independent NonExecutive Director of the Company to hold office for a term of five consecutive years i.e. from August 23, 2024 to August 22, 2029.

(iii) Resignation of Independent Director:

Mr. Rajesh Babulal Sodani (holding DIN 05010096), Independent Director of the Company, resigned as an Independent Director of the Company with effect from the close of business hours of 21st November, 2024.

(iv) Appointment of Additional Director - Independent Director:

The Board of Directors of the Company appointed Mr. Harish Sitaram Sharma (holding DIN 07332874), as an Additional Director - Independent Director on the Board with effect from 21st November, 2024.

Subsequently, the members of the Company, at their 01/20245-25 Extra Ordinary General Meeting held on Monday, 17th February, 2025, appointed Mr. harish Sitaram Sharma as an Independent Non- Executive Director of the Company with effect from 17th February, 2025 to hold office for a term of five consecutive years i.e. up to 16th February, 2030.

(v) Appointment of Director retiring by rotation:

Mr. Praveen Kumar Modi (holding DIN 08428737) Director of the Company, will retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for reappointment.

(vi) Declaration of Independence by Independent Directors & adherence to the Company's Code of Conduct for Independence Directors:

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and that they qualify to be Independent Directors pursuant to the Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014.

25. Vigil Mechanism / Whistle Blower Policy:

A vigil mechanism provides a channel to employees and Directors to report to the management concerns about unethical behavior, actual or suspected fraud or violation of the Codes of Conduct or any Policy of the Company.

The Company is committed to adhere to the highest standards of ethical, moral and legal conduct of its business operations. In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior.

The Company has adopted a vigil mechanism policy pursuant to the requirements of Section 177(9) of the Act and Regulation 22 of the SEBI Listing Regulations and the same can be accessed on Company's website www.ken-fin.com.

26. Nomination and Remuneration Policy:

The Nomination & Remuneration Committee of the Board of Directors has adopted a policy which deals with the manner of selection and appointment of Directors, Senior Management and their remuneration. The policy is in compliance with the provisions of Section 178(3) of the Companies Act, 2013. The Remuneration Policy is stated in the Report on Corporate Governance and the same can be accessed on Company's website www.ken-fin.com.

27. Directors Responsibility Statement:

According to the provisions of Section 134(3)(c) of the Companies Act, 2013, the directors confirm that:

a) in the preparation of annual accounts for the financial year ended March 31, 2025, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same;

b) the accounting policies as selected are consistently applied and made judgements and estimates that are reasonable and prudent manner so as to ensure true and fair view of the state of affairs of the Company as at March 31, 2025 and of the profit of the Company for the year ended on that date;

c) adequate accounting records are maintained in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) financial statements have been drawn up on a going concern basis;

e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

28. Compliance with the Provisions of Secretarial Standards of ICSI:

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively.

The applicable Secretarial Standards, i.e. SS-1 and SS-2, relating to ‘Meetings of the Board of Directors' and ‘General Meetings', respectively, have been duly complied by your Company.

29. Particulars of Loans, Guarantees or Investments:

The Company being an NBFC registered with the RBI and engaged in the business of giving loans in ordinary course of its business.

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the Notes to the Financial Statements.

30. Related Party Transactions:

The Board of Directors of the Company has formulated a policy on dealing with Related Party Transactions, pursuant to the applicable provisions of the Act. The same is displayed on the website of the Company.

Contracts/arrangement/transactions entered by the Company during Financial Year 202425 with related parties were in compliance with the applicable provisions of the Act and SEBI Listing Regulations.

All related party transactions entered during Financial Year 2024-25 were on arm's length basis and not material under the Act and SEBI Listing Regulations. None of the transactions required members' prior approval under the Act or SEBI Listing Regulations. Details of transactions with related parties during Financial Year 2024-25 are provided in the notes to the financial statements.

There were no transaction requiring disclosure under Section 134(3)(h) of the Companies Act, 2013. Hence, Form AOC-2 does not form a part of this report.

31. Risk Management:

Risks are events situation or circumstances, which may lead to negative consequences on the Company's business. Risk Management is a structured approach to manage uncertainty. A formal approach to risk management is being adopted by the company and key risks will now be managed within a unitary framework. Periodic assessment to indemnify the risks areas are carried out and management is briefed on the risks in advance to enable the Company to control risk through a properly defined plan. The risks are taken into account while preparing the annual business plan for the year. The Board is also periodically informed of the business risks and the actions taken to manage them.

The Company has formulated a policy for Risk Management with the following objects.

• Provide an overview of the principles of risk management.

• Explain approach adopted by the Company for risk management.

• Define the organisational structure for effective risk management.

• Develop a risk culture that encourages all employees to identity risks and to respond to them with effective actions.

• Identify, assess and manage existing and new risks in a planned and coordinated manner with minimum disruption and cost, to protect and preserve Company's human, physical and financial assets.

32. Prevention of Sexual Harassment at Workplace:

As per the requirement of Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 and Rules made thereunder, your Company has constituted Internal Complaints Committee (ICC). No complaints have been received on Sexual harassment for the financial year ending 31st March 2025. The Company is committed to providing a safe and conducive work environment.

33. Maternity Benefit provided by the Company under Maternity Benefit Act, 1961:

The Company declares that it has duly complied with the provisions of the Maternity Benefit Act, 1961. All eligible women employees have been extended the statutory benefits prescribed under the Act, including paid maternity leave, continuity of salary and service during the leave period, and post-maternity support such as nursing breaks and flexible return-to-work options, as applicable.

The Company remains committed to fostering an inclusive and supportive work environment that upholds the rights and welfare of its women employees in accordance with applicable laws.

34. Significant and Material Orders Passed by the Regulators or Courts or Tribunal:

During the year, there were no significant and material orders passed by Regulators or Courts or Tribunal impacting the going concern status of the Company and its future operations.

35. Material changes and commitments:

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statement relates on the date of this report.

36. Board Evaluation:

The performance of the Board, individual directors and managing director was evaluated by the Board seeking inputs from all the Directors. The performance of the Committees was evaluated by the Board seeking inputs from the Committee Members. The Nomination and Remuneration Committee reviewed the responses received and forwarded its recommendations to the Board. This was followed by a Board Meeting that discussed the performance of the Board, its committees, individual directors and managing director.

A separate meeting of Independent Directors was also held to review the performance of Non-Independent Directors, performance of the Board as a whole and performance of the Managing Director of the Company.

The criteria for performance evaluation of the Board included aspects like Board composition and structure, effectiveness of Board processes, information and functioning etc. The criteria for performance evaluation of Committees of the Board included aspects like composition of committees, effectiveness of Committee Meetings etc. The criteria for performance evaluation of the individual directors included aspects on contribution to the Board and Committee Meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc.

The criteria for performance evaluation of Managing Director included aspects on fulfillment of his duties, skills and knowledge updation and his participation during board deliberations on strategy, performance, risk management etc.

The above criteria are broadly based on the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India.

The performance evaluation of Independent Directors was based on the criteria viz. attendance at Board and Committee Meetings, skill, experience, ability to challenge views of others in a constructive manner, knowledge acquired with regard to the Company's business, understanding of industry and global trends etc.

37. Audit Committee:

Pursuant to provisions of Section 177(8) of the Companies Act, 2013 read with Rule 6 of the Companies (Meetings of the Board and its Power) Rules, 2013, the Audit Committee is comprised of three Independent Directors.

The composition of the Audit Committee is as under:

Name

Designation

Category

Mr. Manoj Kumar More 1 Chairman 1 Non-Executive Independent Director
Mr. Rajesh Babulal Sodani 2&3 Chairman 2&3 Non-Executive Independent Director
Mr. Harish Sitaram Sharma 4 Chairman 4 Non-Executive Independent Director
Ms. Neha Kailash Bhageria Member Non-Executive Independent Director
Mr. Ritesh Kumar Pathak Member Non-Executive Independent Director

 

1Upto 30th May, 2024 2From 30th May, 2024
3Upto 21st November, 2024 4From 21st November, 2024

All the recommendations made by the Audit Committee were accepted by the Board of Directors of the Company.

38. Nomination & Remuneration Committee:

Pursuant to provisions of Section 178(1) of the Companies Act, 2013 read with Rule 6 of the Companies (Meetings of the Board and its Power) Rules, 2013, the Nomination and Remuneration Committee is comprised of three Independent Directors.

The composition of the Committee is as under:

Name

Designation

Category

Mr. Ritesh Kumar Pathak Chairman Non-Executive Independent Director
Mr. Manoj Kumar More 1 Member 1 Non-Executive Independent Director
Ms. Neha Kailash Bhageria Member Non-Executive Independent Director
Mr. Rajesh Babulal Sodani 2&3 Member 2&3 Non-Executive Independent Director
Mr. Harish Sitaram Sharma 4 Member Non-Executive Independent Director

 

1Upto 30th May, 2024 2From 30th May, 2024
3Upto 21st November, 2024 4From 21st November, 2024

All the recommendations made by the Nomination and Remuneration Committee were accepted by the Board of Directors of the Company.

39. Ratio of Remuneration:

The information pursuant to the provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company and Directors is furnished hereunder: (Amount in Hundreds)

Sr. No.

Name

Designation

Remuneration for the F.Y. 2024-25 % increase (decrease) from previous year Ratio / Times per median of employee remuneration
1. Mr. Shakti Singh Rathore Managing Director 8,255 2.46% 2.75 times
2. Mr. Praveen Kumar Modi Chief Financial Officer 3,600 Nil 1.20 times
3. Mrs. Sarika Agarwal Company Secretary 3,000 25.00% 1.00 time

The particulars of the employees as required under Rule 5(2) and rule 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not applicable to the Company as none of the employees of the Company was in receipt of remuneration as prescribed under the said Rules.

40. Corporate Governance:

Your Company is committed to maintain the highest standards of Corporate Governance and adheres to the Corporate Governance requirements set out by SEBI. All Board members and senior management personnel have affirmed compliance with the Company's code of conduct for Financial Year 2024-25. We hereby confirm that the Company has complied with corporate governance requirements specified in Regulation 17 to 27 and other applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

41. Share Capital:

A) Buy Back of Securities

The Company has not bought back any of its securities during the year.

B) Sweat Equity

The Company has not issued any Sweat Equity Shares during the year.

C) Bonus Shares

No Bonus Shares were issued during the year.

D) Employees Stock Option Plan

The Company has not provided any stock option plan during the year.

42. RBI Guidelines:

Reserve Bank Governor Shri Sanjay Malhotra announced that the repo rate will remain unchanged at 5.5% on Wednesday (August 6, 2025). He also projected the GDP growth projection for Financial Year 2026 retained at 6.5%. The CPI inflation for Financial Year 2026 projected down at 3.1% as compared with 3.7% projected in June.

Consequently, the standing deposit facility (SDF) rate under the liquidity adjustment facility (LAF) remains unchanged at 5.25% and the marginal standing facility (MSF) rate and the Bank Rate at 5.75%. This decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2 per cent, while supporting growth.

In the June RBI policy, the central bank's MPC surprised with a bumper 50 basis points (bps) cut in the repo rate to 5.50% from 6%. The MPC changed the policy stance to ‘Neutral' from ‘Accommodative', and also slashed the Cash Reserve Ratio (CRR) by 100 bps to 3% from 4% earlier.

43. Cyber security governance:

Cyber security governance includes a board member overseeing the cybersecurity strategy and the executive management team, accountable for managing cybersecurity. The Senior Management track all the recent happenings related to cyber security risks on ongoing and periodical basis and solves the related issues.

44. Prevention of Insider Trading:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated persons of the Company, as per SEBI (Prohibition of Insider Trading) Regulations, 2015.

45. Transfer of Amounts to Investor Education and Protection Fund (IEPF):

Your Company has not declared any dividend during the last seven years and accordingly there are no unpaid or unclaimed dividend for a period of seven years. Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

46. Corporate Insolvency Resolution Process Initiated Under The Insolvency And Bankruptcy Code, 2016 (IBC):

No application has been filed for corporate insolvency resolution process, by a financial or operational creditor or by the Company under the IBC before the National Company Law Tribunal.

47. Acknowledgment:

Your Directors place on record their gratitude for the support to all the Company's employees for their enormous personal efforts as well as collective contribution to the Company's performance. The Company acknowledges the role of all its key stakeholders- shareholders, investors / borrowers, Customers, Bankers, Government, Lead Managers and all the other business associates for the continuous support given by them to the Company and their confidence in its Management.

Registered Office:

For and on behalf of the Board

F-9, 1st Floor, Shah Arcade 1,
Rani Sati Marg,
Near W.E. Highway,
Malad (East),
Mumbai - 400 097.

Shakti Singh Rathore

Praveen Kumar Modi

Date: 29th August, 2025

DIN:09208373

DIN:08428737

Place: Mumbai

Managing Director

Director