The Directors have pleasure in presenting before you the 38th Annual Report on the business and operations of the
Company along with the Audited Financial Statement for the financial year ended 31^st March, 2025.

Financial Performance: (in Lakhs)

Operational performance of the company

For the financial year ended 31^st March 2025, the
Company reported Revenue from Operations of
^7,502.71 lakhs, down 12.70% from the previous year
due to market conditions and strategic realignment.
Other Income stood at ^308.30 lakhs, with total
expenditure rising to ^7,811.01 lakhs. PBIDT improved
by 12.51% to ^1,641.63 lakhs, reflecting operational
efficiency. However, higher finance costs of ^1,690.31
lakhs and depreciation of ^2.05 lakhs led to a Loss
before Tax of ^50.73 lakhs. After tax and other
comprehensive income adjustments, the Net Loss stood
at ^33.47 lakhs. The Company remains focused on
efficiency, cost control, and long-term growth.

Annual Return

In accordance with the provisions of Section 92(3) of
the Companies Act, 2013, the Annual Return of the
Company for the financial year 2024-25 has been
placed on the Company's website at the following
address:

www.goenkabusinessfinancelimited.in

Change in Nature of Business

There has been no change in the nature of the Business
and operations of the Company during the year under
review.

Dividend

In view of the Company's plans for future business
expansion and to conserve resources, the Board of
Directors has not recommended any dividend for the
financial year 2024-25.

Transfer to Reserves

In accordance with Section 45-IC(1) of the Reserve Bank
of India Act, 1934, no amount has been transferred to
the Statutory Reserve for the financial year 2024-25, as
the Company has incurred a loss during the year.

Share Capital

As on 31st March, 2025, the authorised share capital of
the Company stood at ^13,30,00,000, and the issued,
subscribed, and paid-up equity share capital stood at
^13,00,01,000. During the financial year under review,
there was no alteration in the share capital structure of
the Company.

Deposits

Pursuant to the provisions of Section 73 to 76 of the
Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Rules, 2014, the Company,
being a Non-Banking Financial Company registered with
the Reserve Bank of India and classified as a non¬
deposit taking NBFC, has neither accepted nor renewed
any deposits from the public during the financial year
under review. Accordingly, the provisions relating to
acceptance of deposits under the aforesaid sections
and rules are not applicable to the Company.

Material Changes and Commitments Affecting the
Financial Position of the Company

There have been no material changes and
commitments, occurring after the end of the financial
year on 31st March, 2025 and till the date of this

Report, which would have a material impact on the
financial position of the Company.

Subsidiaries, Associates, and Joint Venture Companies

During the financial year under review, the Company
does not have any subsidiary, associate, or joint venture
company within the meaning of the Companies Act,
2013.

Directors and Key Managerial Personnel

The composition of the Board of Directors is in
accordance with the provisions of Section 149 of the
Companies Act, 2013 and Regulation 17 of the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015 ("Listing Regulations"), comprising an
appropriate mix of Executive and Non-Executive
Directors, including one Woman Independent Director.

As on 31st March, 2025, the Board comprised two
Executive Directors, one Non-Executive Independent
Woman Director, and two other Independent Directors.

I. Appointments / Re-appointments:

During the financial year under review, there
were no new appointments of Directors.

II. Resignations:

There were no resignations of Directors during
the financial year.

III. Director Retiring by Rotation:

In accordance with the provisions of Section
152 of the Companies Act, 2013 and the Articles
of Association of the Company, Mr.
Bhavikkumar Shankarlal Prajapati (DIN:
08480627), Executive Director, is liable to retire
by rotation at the ensuing Annual General
Meeting and being eligible, has offered himself
for re-appointment. The Board recommends his
re-appointment for the approval of
shareholders. Brief details of the Director
proposed to be re-appointed are provided in
the Notice convening the Annual General
Meeting in accordance with Regulation 36 of
the Securities and Exchange Board of India
(Listing Obligations and Disclosure
Requirements) Regulations, 2015.

Declaration by Independent Directors

Pursuant to Section 149(7) of the Companies Act, 2013
and Regulation 16(1)(b) of the SEBI (Listing Obligation
and Disclosure Requirements) Regulations, 2015, all
Independent Directors have submitted declarations
confirming that they meet the criteria of independence
as prescribed under the Act and the Listing Regulations.

In the opinion of the Board, the Independent Directors
fulfill the conditions for independence and are
independent of the management. Further, as per
Section 149(13) of the Act, Independent Directors are
not liable to retire by rotation.

The policy on familiarization programmes for
Independent Directors is available on the Company's
website at: www.goenkabusinessfinancelimited.in.

Key Managerial Personnel

In accordance with Section 2(51) and Section 203 of the
Companies Act, 2013 read with applicable Rules, the
following are the Key Managerial Personnel (KMP) of
the Company as on the date of this Report:

Mr. Bhavikkumar Prajapati - Chief Financial Officer
Mr. Yasin Gori - Whole-Time Director
Mr. Dharmik Ripinbhai Solanki - Company Secretary
(appointed w.e.f. 2nd September, 2024)

Change in Key Managerial Personnel:

During the financial year under review, the following
changes occurred in the Key Managerial Personnel of

the Company pursuant to the provisions of Section
2(51) and Section 203 of the Companies Act, 2013 read
with the applicable rules:

• Ms. Pooja Hemang Khakhi (ACS: 36184)
resigned from the position of Company
Secretary & Compliance Officer and ceased to
be a Key Managerial Personnel with effect from
11th April, 2024.

• The Board appointed Mr. Maunishkumar
Gandhi as the Company Secretary &
Compliance Officer of the Company with effect
from 5th July, 2024. He resigned from the said
position with effect from 31st August, 2024.

• Subsequently, Mr. Dharmik Ripinbhai Solanki
was appointed as the Company Secretary &
Compliance Officer of the Company with effect
from 2nd September, 2024, and is designated
as a Key Managerial Personnel under Section
203 of the Companies Act, 2013.

These changes have been duly noted and taken on
record by the Board.

Directors' Disqualification and Fit & Proper Criteria

The Company has received declarations from all
Directors under Section 164(2) of the Companies Act,
2013 confirming that they are not disqualified from
being appointed or continuing as Directors. The Board
has taken the same on record.

Further, a certificate from a Practicing Company
Secretary confirming that none of the Directors are
disqualified from being appointed or continuing as
Directors of the Company has been obtained and is
annexed to this Report as Annexure-VII.

Policy on Appointment and Remuneration of Directors

The Company has formulated a Nomination and
Remuneration Policy in accordance with the provisions
of Section 178 of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Policy lays down the criteria for
selection, appointment, and remuneration of Directors
and Key Managerial Personnel, including the evaluation
framework for their performance.

The said policy is available on the Company's website
at: www.goenkabusinessfinancelimited.in.

Performance Evaluation of the Board and Directors

Pursuant to the provisions of Section 134(3)(p) of the
Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the
Board has carried out the annual evaluation of its own
performance, its Committees, and individual Directors.

The evaluation was conducted through a structured
questionnaire covering various aspects such as Board
composition and structure, effectiveness of meetings,
decision-making processes, and performance of
individual Directors. The performance of the Chairman
and Non-Independent Directors was evaluated by the
Independent Directors, while the performance of the
Board as a whole was reviewed by the Board.

The Nomination and Remuneration Committee also
reviewed the performance of individual Directors based
on parameters including level of preparedness,
participation in meetings, and meaningful
contributions.

Familiarization Program for Directors

The Company conducts structured orientation and
familiarization programmes for its Directors, including
Independent Directors, to enable them to understand
their roles, rights, responsibilities, and the Company's
operations and business environment.

The details of the familiarization programme are
available on the Company's website at:

www.goenkabusinessfinancelimited.in

Directors' Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013,
the Board of Directors hereby confirms that:

I. In the preparation of the Annual Accounts, the
applicable Accounting Standards have been
followed along with proper explanation relating
to material departures;

II. The Directors have selected such accounting
policies and applied them consistently and
made judgments and estimates that were
reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company
at the end of the financial year and of the profit
of the Company for the year under review;

III. The Directors have taken proper & sufficient
care of the maintenance of adequate

accounting records in accordance with the
provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and
for prevention & detecting fraud & other
irregularities;

IV. The Directors have prepared the accounts for
the year ended 31st March, 2025 on a going
concern basis.

V. The directors had laid down internal financial
controls to be followed by the Company and
that such internal financial controls are
adequate and were operating effectively.

VI. The directors had devised proper system to
ensure compliance with the provision of all
applicable laws and that such systems were
adequate and operating effectively.

Meetings of the Board and its Committees

a. Board Meetings:

During the financial year 2024-25, the Board of
Directors met six (6) times. The meetings were held on
the following dates: 29.05.2024, 05.07.2024,

14.08.2024, 02.09.2024, 29.10.2024, and 12.02.2025

The gap between two consecutive meetings did not
exceed 120 days, as prescribed under the Companies
Act, 2013 and Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. The details regarding the attendance
of Directors at the Board meetings are provided in the
Corporate Governance Report, which forms part of this
Annual Report.

b. Committees of the Board

The Company has constituted the following Committees
of the Board in accordance with the applicable
provisions of the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015:

I. Audit Committee

II. Nomination and Remuneration Committee

III. Stakeholders Relationship Committee

I. Audit Committee:

As on 31st March, 2025, the Audit Committee

comprised the following members:

• Mr. Nigamkumar Sathavara - Chairman
(Independent Director)

• Mr. Yasin Gori - Member (Executive Director)

• Ms. Charmi Parikh - Member (Independent
Director)

The Committee met at regular intervals to review
financial reporting and internal control systems. During
the financial year, the Audit Committee met four (4)
times. The Board accepted all the recommendations
made by the Committee during the year.

II. Nomination and Remuneration Committee:

As on 31st March, 2025, the Nomination and
Remuneration Committee comprised:

• Ms. Charmi Parikh - Chairperson

(Independent Director)

• Mr. Nigamkumar Sathavara - Member
(Independent Director)

• Mr. Yasin Gori - Member (Executive Director)

The Committee met three (3) times during the financial
year under review to evaluate and recommend
appointments, reappointments, and performance

evaluation frameworks.

III. Stakeholders Relationship Committee:

As on 31st March, 2025, the Stakeholders
Relationship Committee comprised:

• Mr. Nigamkumar Sathavara - Chairman
(Independent Director)

• Mr. Yasin Gori - Member (Executive
Director)

• Ms. Charmi Parikh - Member (Independent
Director)

The Committee met two (2) times during the financial
year to consider and resolve stakeholder grievances.

c. Meeting of Independent Directors:

In accordance with the provisions of Schedule IV of the
Companies Act, 2013 and Regulation 25(3) of the
Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations,
2015, a separate meeting of Independent Directors was
held on 24th March, 2025, without the presence of
Non-Independent Directors and members of
management. The Independent Directors reviewed the

performance of the Board, its Committees, the
Chairman, and Non-Independent Directors.

Shareholders' Meeting

During the financial year under review, one
Shareholders' Meeting, i.e., the Annual General
Meeting (AGM), was held on 27th September, 2024 at
04:00 P.M. IST through Video Conferencing (VC) / Other
Audio Visual Means (OAVM) in compliance with
applicable provisions of the Companies Act, 2013 and
relevant circulars issued by the Ministry of Corporate
Affairs.

The proceedings of the meeting were conducted in a
manner that ensured compliance with statutory
requirements while enabling effective shareholder
participation.

Particulars of Loans, Guarantees and Investments

During the year under review, the Company has, in the
ordinary course of its business, provided loans and
made investments in accordance with its principal
business activities.

The Company is a Non-Banking Financial Company
(NBFC) registered with the Reserve Bank of India (RBI)
and is engaged in the business of providing loans and
making investments as part of its ordinary course of
business.

In view of the same, and in terms of the exemption
granted under Section 186(11)(d) of the Companies Act,
2013, the provisions of Section 186(2) to 186(4) relating
to disclosure of particulars of loans given, guarantees
provided, and investments made are not applicable to
the Company.

Vigil Mechanism

Pursuant to the provisions of Section 177(9) and
177(10) of the Companies Act, 2013, and SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015, the Company has established a Vigil Mechanism
through the implementation of a Whistle Blower Policy.

The Vigil Mechanism provides a secure and confidential
platform for the Directors and employees of the
Company to report genuine concerns regarding
unethical behaviour, actual or suspected fraud, or
violation of the Company's Code of Conduct and Ethics
Policy. The policy ensures adequate safeguards against

victimization of individuals who avail of the mechanism
and provides for direct access to the Chairperson of the
Audit Committee.

The amended/updated Whistle Blower Policy is
available on the Company's website at:
www.goenkabusinessfinancelimited.in

During the financial year under review, no complaints
were received under the Vigil Mechanism.

Internal Financial Controls and Audit

The Company has established a comprehensive
framework of Internal Financial Controls (IFC) to ensure
the orderly and efficient conduct of its business,
including adherence to internal policies, safeguarding of
assets, prevention and detection of frauds and errors,
accuracy and completeness of accounting records, and
timely preparation of reliable financial statements and
disclosures.

These controls are aligned with the requirements of the
Companies Act, 2013 and are designed to operate
effectively at all levels of the organization. The
Company has implemented structured policies and
standard operating procedures that define authority
limits, operational workflows, and accountability
mechanisms to support effective decision-making and
risk management.

The Board of Directors periodically evaluates the
adequacy and effectiveness of the internal control
systems and ensures that appropriate corrective actions
are taken, wherever necessary. The Company also
conducts regular assessments to strengthen controls
and improve processes in line with evolving business
needs and regulatory requirements.

Based on the framework of internal financial controls
and compliance systems established and maintained by
the Company, the Board is of the opinion that the
internal financial controls are adequate and operating
effectively throughout the financial year.

Risk Management Policy

The Company has adopted a comprehensive Risk
Management Policy to identify, assess, monitor, and
mitigate various risks associated with its operations.
The risk management framework is designed to
proactively recognize internal and external risks,
evaluate their potential impact, and implement
appropriate mitigation strategies to safeguard the
interests of stakeholders.

The Company has laid down structured procedures for
the assessment and minimization of probable risks,
which are periodically reviewed by the management
and overseen by the Board. This approach ensures that
key risks are identified in a timely manner and managed
effectively through well-defined processes, controls,
and contingency plans.

The Risk Management Policy covers, inter alia,
operational risk, financial risk, market risk, credit risk,
legal and compliance risk, and reputational risk. The
Company continues to enhance its risk management
practices in alignment with evolving business
complexities and regulatory expectations.

Compliance Management

The Company has complied with all applicable
provisions of the Companies Act, 2013, including rules
made thereunder, as well as various applicable
regulations prescribed by the Securities and Exchange
Board of India (SEBI) such as the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015, and other circulars and guidelines issued from
time to time. As a registered Non-Banking Financial
Company (NBFC), the Company also adheres to the
regulatory framework and directions issued by the
Reserve Bank of India (RBI), including the Master
Direction - Non-Banking Financial Company - Non-
Systemically Important Non-Deposit taking Company
(Reserve Bank) Directions, 2016, and subsequent
Master Circulars and notifications applicable to NBFCs.
The Company has established an internal compliance
framework to monitor and ensure adherence to all
statutory, regulatory, and governance requirements,
and confirms that it has complied with all applicable
legal provisions during the financial year under review.

Corporate Governance

The Company is committed to maintaining the highest
standards of corporate governance and has adopted a
set of best governance practices to ensure
transparency, accountability, and integrity in all its
operations and stakeholder interactions.

Pursuant to Regulation 34(3) read with Schedule V of
the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("Securities and
Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015"), a
detailed Corporate Governance Report forms part of
this Annual Report and is annexed hereto as Annexure
- III.

In accordance with Para C and Para E of Schedule V of
the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations,
2015, the Company has obtained the following
certificates from M/s. Aanal Satyawadi & Co. , Company
Secretaries:

• Certificate of Non-Disqualification of Directors,
annexed as Annexure - VIII; and

• Certificate on Corporate Governance, Annexure
- IV

Management Discussion and Analysis Report

In accordance with the provisions of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015, and the applicable provisions of the Master
Direction issued by the Reserve Bank of India for Non¬
Banking Financial Companies, the Management
Discussion and Analysis Report forms an integral part of
the Annual Report. This report provides a detailed
overview of the business performance, industry
outlook, opportunities, risks, and other key aspects of
the Company's operations. The said report is annexed
to this Report and marked as Annexure - I.

Auditors

a. Statutory Auditors

Pursuant to the recommendation of the Audit
Committee and the Board of Directors, the Members of
the Company at the 34th Annual General Meeting held
on 30th September, 2021, appointed M/s. MAAK &
Associates, Chartered Accountants (ICAI Firm
Registration No.: 013811N), as the Statutory Auditors of
the Company for a term of five consecutive years, from
the conclusion of the 34th AGM until the conclusion of
the 39th Annual General Meeting, to be held in the year
2026. The Members also approved the remuneration
payable to the Statutory Auditors and authorised the
Board to finalise the terms and conditions of their
appointment, including remuneration, based on the
recommendation of the Audit Committee.

During the year, the Statutory Auditors have provided a
confirmation that they continue to satisfy the
independence criteria as prescribed under the
Companies Act, 2013 and the Code of Ethics issued by
the Institute of Chartered Accountants of India (ICAI),
and are not disqualified in terms of Regulation 33(1)(d)
of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("SEBI LODR
Regulations").

Explanation to Auditors' Remarks

The Statutory Auditors' Report on the financial
statements for the financial year ended March 31,
2025, is self-explanatory and does not contain any
qualifications, reservations, or adverse remarks
requiring further explanation or clarification by the
Board.

Reporting of Frauds by Auditors

During the year under review, there have been no
instances of fraud reported by the Statutory Auditors
under Section 143(12) of the Companies Act, 2013.

b. Secretarial Auditor

In terms of the provisions of Section 204 of the
Companies Act, 2013 and Regulation 24A of the SEBI
LODR Regulations, the Company has appointed M/s.
Aanal Satyawadi & Co., Practicing Company Secretary,
to conduct the Secretarial Audit of the Company for the
financial year ended March 31, 2025.

The Secretarial Audit Report, in Form MR-3, is annexed
to this Report and marked as Annexure - VI. The Report
does not contain any qualifications, reservations, or
adverse remarks, and reflects the Company's strong
compliance culture and governance framework.

c. Cost Records and Cost Audit

As per the provisions of Section 148 of the Companies
Act, 2013, read with the Companies (Cost Records and
Audit) Rules, 2014, the maintenance of cost records and
the appointment of cost auditors is not applicable to
the Company for the financial year under review, since
the Company does not fall within the prescribed
thresholds.

d. Internal Auditor

In accordance with the provisions of Section 138 of the
Companies Act, 2013 and Rule 13 of the Companies
(Accounts) Rules, 2014, the Board of Directors has
appointed M/s. Harsh Prajapati & Co., Chartered
Accountants (Firm Registration No. 157458W) as the
Internal Auditor of the Company for the financial year
2024-25. The Internal Auditor reports to the Audit
Committee and assists in monitoring the effectiveness
of the internal control systems, risk management, and
governance processes in the Company, as part of the
overall internal financial controls framework.

Particulars of Employees and Related Disclosures:

Pursuant to the provisions of Section 197(12) of the
Companies Act, 2013 read with Rules 5(2) and 5(3) of
the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, it is hereby
confirmed that during the financial year under review,
no employee of the Company was in receipt of
remuneration requiring disclosure under the said
provisions, including any employee in receipt of
remuneration in excess of that drawn by the Managing
Director or Whole-Time Director and holding, either
individually or along with their spouse and dependent
children, not less than the prescribed percentage of
equity shares in the Company. hence, the provisions
relating to disclosure of particulars of employees are
not applicable.

Listing with Stock Exchanges

The Company confirms that it has duly paid the Annual
Listing Fees for the financial year 2024-2025 to the BSE
Limited (Bombay Stock Exchange) and the Metropolitan
Stock Exchange of India Limited (MSEI), where the
equity shares of the Company are listed.

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

The Company has adopted an Anti-Sexual Harassment
Policy in line with the provisions of the Sexual
Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013. The policy is
applicable to all employees of the Company, across all
locations.

Status of complaints received during the year:

Number of complaints received: Nil
Number of complaints disposed of: Nil

Industry-Based Disclosures

As a Non-Banking Financial Company (NBFC) registered
with the Reserve Bank of India (RBI), the Company has
complied with all applicable provisions and guidelines
prescribed under the Reserve Bank of India Act, 1934
and the relevant Master Directions/Circulars issued by
the RBI during the financial year under review.

Related Party Transactions

All transactions entered into by the Company with
related parties during the financial year were in the
ordinary course of business and on an arm's length
basis, and were reviewed and approved by the Audit
Committee in accordance with the applicable laws and
the Company's policy on related party transactions.
There were no material related party transactions
during the year as defined under the Company's policy
on materiality of related party transactions.

The required disclosure under Section 134(3)(h) of the
Companies Act, 2013 in the prescribed Form AOC-2 is
attached as Annexure - II to this Report.

The policy on materiality and dealing with related party
transactions is available on the Company's website at:
www.goenkabusinessfinancelimited.in

Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo

Pursuant to Rule 8(3) of the Companies (Accounts)
Rules, 2014, the required disclosures are as follows:

A. Conservation of Energy:

The operations of the Company are not energy¬
intensive. However, the Company has taken adequate
measures to conserve energy by using energy-efficient
equipment and promoting responsible energy
consumption practices.

B. Technology Absorption:

Research and Development (R&D): Not applicable
Technology Absorption, Adaptation and Innovation: Not
applicable

C. Foreign Exchange Earnings and Outgo:

Foreign Exchange Earnings: Nil
Foreign Exchange Outgo: Nil

Disclosure of Frauds under Section 143 of the
Companies Act, 2013

During the financial year under review, the Board of
Directors confirms that no frauds were reported or
observed in the Company which would fall under the
purview of Section 143(12) of the Companies Act, 2013.

Corporate Social Responsibility (CSR)

The provisions of Section 135 of the Companies Act,
2013 relating to Corporate Social Responsibility are not
applicable to the Company during the year under
review. Accordingly, no CSR policy or initiatives have
been undertaken by the Company.

Significant and Material Orders Passed by Regulators
or Courts

There were no significant or material orders passed by
the Regulators, Courts, or Tribunals during the year
under review that would impact the going concern
status or future operations of the Company.

Compliance with Secretarial Standards

The Company has duly complied with the applicable
provisions of the Secretarial Standards issued by the
Institute of Company Secretaries of India (ICSI), namely:

• SS-1: Secretarial Standard on Meetings of the

Board of Directors; and

• SS-2: Secretarial Standard on General

Meetings.

Details of Applications Made or Proceedings Pending
under the Insolvency and Bankruptcy Code, 2016

There were no applications made or proceedings
pending against the Company under the provisions of
the Insolvency and Bankruptcy Code, 2016, during the
financial year under review.

Details of Valuation for One-Time Settlement

During the financial year under review, the Company
has not entered into any one-time settlement with
banks or financial institutions. Accordingly, the
requirement of providing details of valuation at the
time of such settlement does not arise.

Acknowledgements

The Board of Directors places on record its sincere
appreciation for the continued support and cooperation
received from shareholders, investors, regulatory
authorities, bankers, and other stakeholders. The Board
also acknowledges the contributions made by
employees at all levels for their dedication,
commitment, and professionalism, which has enabled
the Company to achieve consistent growth and
performance

For and on behalf of the Board of Directors of GOENKA BUSINESS FINANCE LIMITED

Yasin Gori Bhavikkumar S Prajapati

Whole Time Direcor Director

DIN:08221979 DIN:08480627

Place: Ahmedabad
Date: 28.08.2025