Your Directors have pleasure in presenting the 40^th Annual Report of the Company together with the Audited Statement of Accounts for the year ended March 31, 2025.

1. FINANCIAL STATEMENTS & RESULTS:FINANCIAL RESULTS:

The Company's performance during the year ended 31^st March, 2025 as compared to the previous financial year, is summarized below:

2. OPERATIONS:

Company has generated revenue of Rs. 8.50 lacs from operations during the financial year as against previous year of Rs. 3.65 lacs. Company has earned other income of Rs. 4.18 lacs as against Rs. 0.22 lacs in previous year.

3. COMPANY’S AFFAIRS:

The Company continues to be engaged in the activities pertaining to dealing in Work Shop Machinery for Tool Room such as Lathe Machine, Shaping Machine, Hacksaw Machine, Drill

Machine, Hydraulic Press, Bench Grinder etc. for maintenance. Sheet Metal Machinery such as Mechanical & Hydraulic Shearing, Press Brake, Sheet Folding Machine & Pyramid Type Plate Bending Machine for Fabrication. There was no change in nature of the business of the Company, during the year under review.

4. RESERVES:

The Board of Directors of the Company has proposed not to transfer any amount to general reserves.

5. DIVIDEND:

Since company has incurred loss, your directors have thought it prudent not to recommend any dividend for the financial year under review.

6. DEPOSIT:

The Company has not accepted or renewed any amount falling within the purview of provisions of Sections 73 and 74 of the Companies Act 2013 (‘the Act') read with the Companies (Acceptance of Deposits) Rules, 2014 during the year under review. Hence, the requirement for furnishing of details of deposits which are not in compliance with Chapter V of the Act is not applicable.

7. REPORT OF PERFORMANCE OF SUBSIDIARIES. ASSOCIATES AND JOINT VENTURE COMPANIES:

During the year under review, your Company did not have any Subsidiary, Associate and Joint Venture Company.

8. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

Since there was no unpaid/unclaimed Dividend on the books or any Unpaid Dividend declared and paid last year, the provisions of Section 125 of the Companies Act, 2013 do not apply to your company.

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

In terms of Section 134(3)(i) of the Companies Act, 2013, It is reported that, in this report, no material changes and commitments which could affect the Company's financial position have occurred between the ends of the financial year i.e. March 31, 2025 of the Company and date of this report.

10. DISCLOSURE OF ORDERS PASSED BY REGULATORS OR COURTS OR TRIBUNAL:

No order has been passed by any Court or Tribunal which can have an impact on the going concern status and the Company's operations in future. Companies' shares were compulsory delisted by Exchange due to non-compliance for two consecutive years. However, during the year company has applied to BSE Ltd. (Exchange) for revocation of suspension in trading in the securities of the company. Company has filed all the statutory compliance along with outstanding fees, reinstatement fees for revocation of suspension. On January 5, 2024 BSE Ltd. Delisting committee passed order and given 4 months' time period to the company to complete all the formalities in relation to revocation of suspension. On June 18, 2024 Order passed by Delisting Committee to revoke suspension of the company w.e.f June 26, 2024.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR):

Based on criteria determined in section 135 of the Companies Act, 2013 concerning applicability of Corporate Social Responsibility, this provision is not applicable to the Company at present.

12. PARTICULARS OF LOANS. GUARANTEES. INVESTMENTS AND SECURITIES:

During the year under review the Company has not made any investment in securities or advanced any loans or given any guarantees or provided security in connection with a loan to persons or body corporate in terms of Section 186 of the Companies Act, 2013.

13. SHARE CAPITAL:

During the year, there has been no change in Authorized, issued, subscribed and paid-up equity share capital of the company. The authorized share capital was Rs. 2,00,00,000/- divided into 20,00,000 equity shares of Rs. 10/- each and Issued, Subscribed and Paid-up equity share capital of the company was Rs. 19,600,000/-divided into 19,60,000 equity shares of Rs. 10/- each of the Company as at 31st March, 2025.

14. ISSUE OF SHARES

During the year under review, the Company has not:

i. Issued any shares with differential voting rights pursuant to the provisions of Rule 4 of the Companies (Share Capital and Debenture) Rules, 2014.

ii. Issued any sweat equity shares to any of its employees, pursuant to the provisions of Rule 8 of the Companies (Share Capital and Debenture) Rules, 2014.

iii. Implemented any Employee Stock Option Scheme for its employees

15. PURCHASE OF SHARES OF THE COMPANY

During the period under review, the Company has not given any loan, guarantee or security, or any financial assistance to the employees of the Company for the purpose of

purchase or subscription for any shares of the Company or its Holding Company pursuant to Section 67(2) of the Act.

16. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL:a. BOARD OF DIRECTORS & KEY MANAGERIALPERSONNEL:

The following is composition of the Board of the Company: -

1. Ms. Mohini T. Hingorani - Non-Executive Independent Director

2. Mr. Harpreet D. Jaggi - Non-Executive Independent Director

3. Mr. Rajkaran J. Chawla* - Executive Director

*Appointed as Executive Director of the company w.e.f 22^nd April, 2024.

The following are Key Managerial Personnel of the Company: -

1. Mr. Kawaljit Singh Chawla* - Managing Director

2. Mr. Harveer Ajit Chawla - Chief Financial Officer

3. Ms. Pooja Mishra** - Company Secretary

*Appointed as Managing Director of the company w.e.f. 27^th April, 2024

**Appointed as Company Secretary & Compliance Officer of the company w.e.f 27^th April, 2024.

b. RE-APPOINTMENT

Pursuant to Section 152 of the Companies Act, 2013 and Article 153(a) of the Articles of Association of the Company, Mr. Rajkaran J. Chawla (DIN: 02313404), Director retires by rotation at the 40^th Annual General Meeting of the Company and being eligible has offered themselves for re-appointment. The Board has recommended his re-appointment at the forthcoming Annual General Meeting as an Executive Director of the Company, liable to retire by rotation.

Brief resume and other details of Mr. Rajkaran J. Chawla (DIN: 02313404) in terms of Regulation 36(3) of SEBI LODR and Secretarial Standards on General Meeting, are provided in the Notice of the Annual Report. Abovementioned Director is not disqualified from being re-appointed as Director by virtue of the provisions of Section 164 of the Companies Act, 2013.

c. DECLARATION RECEIVED FROM INDEPENDENT DIRECTORS:

All the Independent Directors of the Company have given declarations that:

i. Pursuant to section 149(6) of companies act, 2013 they meet the criteria of independence as laid down in aforesaid section and the Listing Regulations.

ii. they have complied with the Code of Independent Directors prescribed under Schedule IV of the Act; and

iii. they have registered themselves with the Independent Directors' Database maintained by the Indian Institute of Corporate Affairs.

d. BOARD MEETINGS:

The Board of Directors have me 6 times during the financial year ended 31^st March, 2025 in accordance with the provisions of the Companies Act, 2013 and rules made there under.

The board meeting dates are 22.04.2024, 27.04.2024, 30.05.2024, 13.08.2024, 13.11.2024 and 14.02.2025

Details of attendance of Directors at board meeting during the financial year 202425 and at last Annual general Meeting held on September 30, 2024 are given below:

The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013.

e. SEPARATE MEETINGS OF INDEPENDENT DIRECTORS:

As stipulated by the Code of Independent Directors under Schedule IV of the Companies, Act, 2013, a separate meeting of the Independent Directors of the Company was held to review the performance of Non- Independent Directors, the Board as whole, including the Chairman of the Company and to discuss the matters related to the quality, quantity and timeliness of flow of information between the Company management and the Board. The Company has put in place an induction and familiarisation programme for its Independent Directors

f. DIRECTORS RESPONSIBILITY STATEMENTS:

In terms of Section 134(5) of the Companies Act, 2013, in relation to the audited financial statements of the Company for the year ended 31^st March, 2025, the Board of Directors hereby confirms that:

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

b. Such accounting policies have been selected and applied consistently and the Directors 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 as at 31^st March, 2025 and of the loss of the Company for that year;

c. Proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. The annual accounts of the Company have been prepared on a going concern basis;

e. Internal financial controls have been laid down to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f. Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

g. ANNUAL EVALUATION BY THE BOARD OF ITS OWN PERFORMANCE. ITS COMMITTEES AND INDIVIDUAL DIRECTORS

The Board of Directors has carried out an annual evaluation of its own performance, Board Committees and individual directors pursuant to the provisions of the Companies Act, 2013.

The Board and the Nomination and Remuneration Committee evaluate the Board, Committees, Directors and Chairman of the Board based on the evaluation parameters, such as Board composition and structure, effectiveness of the Board, participation at meetings, domain knowledge, awareness and observance of governance, etc.

17. DISCLOSURES RELATED TO BOARD COMMITTEES AND POLICIES:

Your Company has in place, all the Committee(s) as mandated under the provisions of the Companies Acts. Currently, there are three Committees of the Board, namely:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders Relationship Committee

A. AUDIT COMMITTEE

The Company has formed an Audit Committee as required under the provisions of

Section 177 of the Companies Act, 2013 and under Regulation 18 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Composition of Audit Committee comprised of following directors:

* Appointed as Managing Director w.e.f 27^th April, 2024

Dates of the meetings: 27.04.2024, 30.05.2024, 13.08.2024, 13.11.2024 and 14.02.2025.

Mr. Harpreet Singh Jaggi, Chairman of the Audit Committee was present at the last Annual General Meeting held on September 30, 2024.

The minutes of the meetings of the Committee are placed before and noted by the Board. The Audit Committee continues to provide valuable advice and guidance in the areas of costing, finance, and internal financial controls. All the recommendations made by the Committee during the year under review were accepted by the Board.

TERMS OF REFERENCE

1. To approve financial results and to recommend it to Board for their approval with or without modification;

2. To take note of compliance of legal requirements applicable to Company;

3. The recommendation for appointment, remuneration and terms of appointment of auditors of the company;

4. Review and monitor the auditor's independence and performance, and effectiveness of audit process;

5. Approval or any subsequent modification of transactions of the company with related parties;

6. To take note of irregularities or fraud in the business activity of the Company, if any.

B. NOMINATION AND REMUNERATION COMMITTEE:

The Board of Directors of the Company has constituted “Nomination and

Remuneration Committee” pursuant to Section 178 of the Companies Act, 2013 read along with applicable rules.

The Composition of Nomination and Remuneration Committee comprised of following directors:

* Appointed as Managing Director w.e.f 27^th April, 2024

Mr. Harpreet Singh Jaggi, Chairman of Nomination and Remuneration Committee was present in last Annual General Meeting held on September 30, 2024. There were no changes in the composition of the NRC.

Date of the Meetings: 22.04.2024, 27.04.2024, 13.08.2024 and 14.02.2025.

The minutes of the meetings of the Committee are placed before and noted by the Board. All the recommendations made by the Committee during the year under review were accepted by the Board.

The Board has in accordance with the provisions of Section 178(3) of the Companies Act, 2013, formulated the policy setting out the criteria for determining qualifications, positive attributes, independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel and other employees. The aforementioned detailed Policy duly approved and adopted by the Board is appended as “Annexure I” of this Report.

C. STAKEHOLDER RELATIONSHIP COMMITTEE:

The composition of the Committee is as per the requirements of the provisions of Section 178 of the Companies Act, 2013. It comprises of two Independent Director and one Executive Director. Chairperson of the SRC is an Independent Director.

* Appointed as Managing Director w.e.f 27^th April, 2024

Mrs. Mohini Hingorani, Chairman of Stakeholder Realtionship Committee was present in last Annual General Meeting held on September 30, 2024. There was no change in composition of the Committee. During the year, 2 meetings were held and necessary quorum was present during both the meetings. Date of the Meetings: 22.04.2024 and 13.08.2024.

The Committee specifically discharge duties by protecting in various aspects interest of shareholders by reviews redressing of shareholders complaints like non-receipt of Balance Sheet, non-receipt of declared dividend, etc. The committee also reviews the functioning & activities of Registrar & Transfer Agent & related investor grievances.

D. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Board of Directors of the Company has, pursuant to the provisions of Section 177(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014, framed a Vigil Mechanism Policy' for Directors and employees of the Company to provide a mechanism which ensures adequate safeguards to employees and Directors from any victimization on raising of concerns of any violations of legal or regulatory requirements, incorrect or misrepresentation of any, financial statements and reports, etc.

The employees of the Company have the right/option to report their concern/grievance to the Chairman of the Audit Committee. The said policy has been communicated to the Directors and employees of the Company and is also posted on the website of the Company https://www.jeetmachinetools.in/investor-relations/policies.

E. RISK MANAGEMENT POLICY:

The Company has laid down a well-defined Risk Management Policy to identify the risk, analyse and to undertake risk mitigation actions. The Board of Directors regularly undertakes the detailed exercise for identification and steps to control them through a well-defined procedure. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through properly defined framework.

F. SEXUAL HARASSMENT POLICY:

The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace and has also established an Investigation and Redressal Committee, as stipulated by The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules thereunder. During the year under review, no complaints in relation to such harassment at workplace have been reported.

The number of employees employed with your Company is less than ten and hence the provisions of this Act are not applicable.

G. MATERNITY BENEFITS ACT, 2016

The number of employees employed with your Company is less than ten and hence the provisions of this Act are not applicable. Also your Company does not have any female employee working with it.

18. AUDITORS & REPORTSa. STAUTORY AUDITOR

The members at the Annual General Meeting held on September 30, 2022 had appointed M/s. Agrawal Jain & Gupta, Chartered Accountants (Firm Registration No. 013538C) as the Statutory Auditors for five consecutive years from the conclusion of 37^thAnnual General Meeting till the conclusion of the 42^ndAnnual General Meeting of the Company to be held in 2026-27. Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

There is no qualification or adverse remark in Auditors' Report. There is no incident of fraud requiring reporting by the Auditors under Section 143(12) of the Act.

b. INTERNAL AUDITORS

For the financial year 2024-25, the Company in the Board Meeting appointed J S Bhatia & Co., (Firm Registration No. 118806W) Chartered Accountants, as an Internal Auditors of the Company for the financial year 2024-25 and the report of Internal Auditor issued and the same has been reviewed by audit and Board.

c. SECRETARIAL AUDITOR

Pursuant to provision of section 204 of the Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the board has appointed M/s Yogesh D. Dabholkar & Co., Practicing Company Secretaries (C.P. No. 6752) to undertake the Secretarial Audit of the Company for the year ended March 31, 2024-25. The Secretarial Audit Report is annexed as Annexure II and forms an integral part of this Report.

Pursuant to the amended provisions of Regulation 24A of the SEBI Listing Regulations and Section 204 of the Act, read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Audit Committee and the Board of Directors have recommended for approval of shareholders at the ensuing AGM, the appointment and remuneration of M/s. B. R. Gharpure & Associates, Practicing Company Secretaries (Firm registration No. S2011MH151400) as the Secretarial Auditors of the Company, for a period of 5 (Five) consecutive years i.e. from Financial Year 2025-2026 to 2029-2030. He has given consent for appointment as Secretarial Auditors.

AUDIT OBSERVATIONS

Statutory Audit: There is an audit observation related with using of an accounting software which does not have feature of audit trail (edit log). The Statutory Auditors have not reported any fraud during the financial year 2024-25.

The report of statutory auditors does not contain any qualification, reservation or adverse remark or disclaimer in their report.

Secretarial Audit: The Board of Directors of the Company acknowledges the observations / qualifications made by the Secretarial Auditors in his Report for the Financial Year 2024-25.

MANAGEMENT RESPONSE

The Board of your Company acknowledges the issue raised by the statutory auditors and is in the process of assessing the risks or impact considering the present state of affairs of the Company.

The Board is committed to maintaining rigorous adherence to the Securities and Exchange Board of India (SEBI) regulations, the Companies Act, 2013, and other relevant guidelines. The Board is addressing the specific issues highlighted with respect to the SEBI (Prohibition of Insider Trading), Regulations, 2018.

The Company is reviewing its internal processes to ensure better alignment with applicable regulatory requirements, including those under SEBI Regulations and the Companies Act, 2013.

Measures are being initiated to enhance accuracy in regulatory filings, improve the quality and timeliness of disclosures, and ensure proper documentation across various compliance areas.

The Board is also working towards strengthening procedural aspects related to committee meetings, disclosures, website updates, and record maintenance.

d. COST AUDITORS:

The Central Government of India has not specified the maintenance of Cost Records under Section 148(1) of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014.

e. INTERNAL CONTROL SYSTEMS:

The Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2025.

19. MAINTENANCE OF COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT UNDER SUB SECTION (1) OF SECTION 148 OF THE COMPANIES ACT-2013 AND STATUS OF THE SAME:

The provisions regarding maintenance of cost records as specified by the Central Government under Sub Section (1) of Section 148 of the Companies Act, 2013 are not applicable to the Company.

20. PARTICULARS OF EMPLOYEES REMUNERATION

The information relating to remuneration and other details as required pursuant provisions of Section 197 of the Companies Act, 2013 read with Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed as Annexure III to the Directors' Report. Your Company does not have any employee drawing the remuneration in excess of limits specified under the Act during the year and said disclosure as required under the Act is not applicable,

21. CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION AND ANALYSIS REPORT (MDAR)

As per amended provisions of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, provisions of corporate governance are not applicable to listed Companies having paid up capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crores as on the last date of the previous year. Paid up capital and net worth of the Company not exceeding the prescribed limit in previous year; hence, provisions of Corporate Governance are not applicable to the Company.

Further The Management Discussion and Analysis Report, as required in terms of Regulation 34 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed as Annexure IV.

22. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUBREGULATION (12) OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT:

There is no instance of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in the Board's report.

23. COMPLIANCE WITH SECRETARIAL STANDARDS:

The Company has not adequately complied with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India.

24. ANNUAL RETURN:

Pursuant to the amendment to the Companies (Management & Administration) Rules, 2014 vide notification dated 28^thAugust, 2020 by Ministry of Corporate Affairs (“MCA”) that every company shall place a copy of the annual return on the website of the company, if any, and the web-link of such annual return shall be disclosed in the Board's report. Your Company does have its own website.

25. BUSINESS RESPONSIBILITY REPORT:

As per the provisions of Regulation 34 (2) of the SEBI Listing Regulations, as amended, the Annual Report of the top 1000 listed entities based on market capitalization shall

include a Business Responsibility and Sustainability Report (BRR), thus the Business Responsibility and Sustainability Report is not applicable to the Company.

26. CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING:

The Company has not adopted amended “Code of Conduct for Prevention of Insider Trading and Fair Disclosure of Unpublished Price Sensitive Information” in View of SEBI (Prohibition of Insider Trading) [Amendment] Regulation, 2018 and subsequent amendment to SEBI (PIT) Regulation and inter alia defines policy to determine “Legitimate Purpose”. However, Company has chart out names of designated personal along with all person covered under PIT regulations.

27. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OURGO:

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rule in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the Company during the year under review.

A) Conservation of Energy:

(i) The steps taken or impact on conservation of energy: N.A.

(ii) The steps taken by the Company for utilizing alternate sources of energy: N.A.

(iii) The capital investment on energy conservation equipment's: N.A.

B) Technology Absorption:

(i) The efforts made towards technology absorption: N.A.

(ii) The benefits derived like product improvement, cost reduction, product development or import substitution: N.A.

(iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year): N.A.

a. The details of technology imported: N.A.

b. The year of import: N.A.

c. Whether the technology been fully absorbed: N.A.

d. If not fully absorbed, areas where absorption has not taken place, and the reasons thereof: N.A.

(iv) The expenditure incurred on Research and Development: N.A.

C) Foreign Exchange Earnings and Outgo:

The Details of foreign exchange earnings and outgo are as follows:

(i) Foreign Exchange Earning: Rs. Nil

(ii) Foreign Exchange Outgo: Rs. Nil

28. PARTICULARS OF CONTRACTS OR ARRANGEMENT WITH RELATED PARITES:

All related party transactions that were entered into by the Company during the financial year were in the ordinary course of business and on an arm's length basis. None of the related party transactions entered into by the Company were material transactions.

Details of related party transactions entered into by the Company during the financial year are provided in Note 24 to the Financial Statements.

29. CORPORATE INSOLVENCY RESOLUTION PROCESS INITIATED UNDER THE INSOLVENCY AND BANKRUPTCY CODE. 2016 (IBC)

No such process initiated during the period under review under the Insolvency and Bankruptcy Code, 2016 (IBC).

30. DETAILS OF ONE TIME SETTLEMENT

The company did not avail any such onetime settlement during the financial year, therefore disclosure of the details of difference between amount of the valuation done at the time of one-time settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof is not applicable to the Company.

31. LISTING

BSE LTD vide notice dated June 18, 2024 has revoked trading of equity shares of the company w.e.f June 26, 2024. During the year company has applied for revocation of suspension and Delisting Committee of Exchange has revoked the suspension of trading on June 18, 2024. Company has paid listing fees for 2025-26.

32. REGISTRAR AND SHARE TRANSFER AGENT

Pursuant to the acquisition of Link Group by Mitsubishi UFJ Trust & Banking Corporation, the name of the Registrar and Share Transfer Agent has changed from M/s. Link Intime India Private Limited to M/s. MUFG Intime India Private Limited with effect from 31st December, 2024.

33. CAUTIONARY STATEMENT

Statements in this Report, particularly those which relate to Management Discussion and Analysis Report, describing the Company's objectives, projections, estimates and expectations may constitute ‘forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied in the statement depending on the circumstances.

34. OTHER DISCLOSURES

Directors state that no disclosure or reporting is required with respect to the following items as there were no instances related to these items during the year under review:

• Issue of equity shares with differential rights as to dividend, voting or otherwise.

• Issue of sweat equity shares.

• Provision of money for purchase of its shares by employees or by trustees for the benefit of the employees.

35. ACKNOLEDGMENTS AND APPRECIATION

Your directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent support and encouragement to the Company.

In addition, your directors also place on record their sincere appreciation of the commitment and hard work put in by the Registrar & Share Transfer Agent, all the suppliers, sub-contractors, consultants, clients and employees of the Company.