Your directors present Annual report on the business and
operations of the company together with Audited Statement
of Accounts of the company for the year ending 31st March
2024.

The particulars pursuant to sub section 3 of section 134 of
the companies act, 2013 are given below.

a) The web address, if any, where annual return
referred to in sub-section (3) of section 92 has been
placed:

The Annual Return of the company as on 31st March,
2024 is available on the Company's website on
www.amitinternational.in

b) Number of meetings of the Board:

During the year 2023-24,5 meetings of Board of
Directors were held.

c) Directors' Responsibility Statements:

The directors' state that

i) In the preparation of annual accounts for the
financial year ended 31stMarch 2024, the
applicable accounting standards had been followed
along with proper explanation relating to material
departures;

ii) The directors had selected such accounting policies
and applied them consistently and 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 31stMarch and of the profit /
loss of the company for that period;

iii) The directors had taken proper and sufficient care
for 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 preventing and detecting fraud
and other irregularities;

iv) The director had prepared the annual accounts on a
going concern basis;

v) The director 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 director had devised proper systems to ensure
compliance with the provisions of all applicable laws
and that such systems were adequate and
operating effectively.

c) a) Details of frauds reported by auditors under

sub-section (12) of section 143 other than those
which are reportable to the central government.

Auditor has not reported any fraud under sub¬
section (12) of section 143 of The Companies Act,
2013.

d) A Statement on Declaration given by Independent
Directors under sub-section (6) of section 149.

The independent Directors have submitted declaration
pursuant to Section 149(7) confirming that he meets the
criteria of independence pursuant to section 149(6).
The statement has been noted by Board of Directors.

e) If Company covered under sub-section (1) of
section 178, company's policy on directors'
appointment and remuneration including criteria for
determining qualifications, positive attributes,
independence of director and other matter provided
under sub-section (3) of section 178.

The Board has, on the recommendation of the
Nomination and Remuneration Committee framed a
policy for selection and appointment of director and key
managerial personal and their remuneration. The policy
is disclosed at “Annexure A” in pursuance of provision
to section 178(3) of the companies Act 2013.

The Company does not pay any remuneration to the
Non-Executive/Independent Directors of the company
other than sitting fees for attending the meeting of the
Board/Committee. Remuneration to the Whole Time
Director/Managing Director is governed by the relevant
provisions of the Companies Act, 2013.

f) Explanations or comments by the board on every
qualification, reservation or adverse remark or
disclaimer made by the auditor in his report / by the
company secretary in practice in his secretarial
audit report.

The disclosures made by the statutory auditors in the
report are self explanatory and no explanation by the
board is required.

g) Particulars of loans, guarantees or investments
under section 186 of Companies act, 2013

Company has not during the year under review (a)
given any loan to any person or other body corporate
(b) Given any guarantee or provide security in
connection with a loan to any other body corporate or
person; and (c) Acquired by way of subscription,
purchase or otherwise, the securities of any other body
corporate, Exceeding sixty percent of its paid-up share
capital, free reserves and securities premium account
or one hundred per cent of its free reserves and
securities premium account, whichever is more and
hence the particulars are not required to be included in
this report.

h) Particulars of contracts or arrangements with
related parties referred to in sub-section (1) of
section 188 in the prescribed form(Form AOC-2)

The company has not entered into transactions referred
to in section 188(1) of The Companies Act, 2013 with
related party and as such no particulars in form AOC-2
are required to be attached to this report.

i) The state of Company's affairs (Amount in Lakhs)

There is no Material change in the state of affairs of the
company. There is no Revenue from operations. Other
income of the company for the year ended 31/03/2023
was Rs29.48 Lakhs and the year ended
31/03/2024income of the company is Rs. 39.37 Lakhs.
Company had a Profit of Rs. 3.18 Lakhs for the year
ended 31/03/2023 and Rs. 6.68 Lakhs for the year
ended 31/03/2024.

The Company has not issued any share capital or
Debentures during the year. There is no change in the
status of the company or the accounting year.

j) The amount, if any, which it proposes to carry to
any reserves

The Directors do not propose to carry any amount to
reserves.

k) The amount, if any, which it recommends should be
paid by way of dividend

The Directors do not recommend any amount to be
paid by way of dividend.

l) Material Changes and commitments, if any,
Affecting the Financial Position of the Company
which have occurred between the Ends of the
financial year of the company to which the
financial statements relate and the date of the
report.

There are no material changes and/or commitments
affecting financial position of the Company occurred
after end of financial year till date of this report.

m) The Conservation of Energy, Technology
Absorption, Foreign Exchange Earnings and Outgo
in such manner as may be prescribed.

Information and details pursuant to Rule 8(3) of the
companies (Accounts) Rules, 2014 with respect to
above is given below:

(A) CONSERVATION OF ENERGY-

i) The steps taken or impact on conservation of energy:
NIL

ii) The steps taken by the company for utilizing alternate
sources of energy: NIL

iii) The capital investment on energy conservation
equipments:NIL

(B) TECHNOLOGY ABSORPTION-

i) The efforts made towards technology absorption: Not
Applicable

ii) The benefits derived like product improvement, cost
reduction, product development or import substitution:
Not Applicable

iii) In case of imported technology (imported during the last
three years reckoned from the beginning of the financial
year)-

a. The details of technology imported: Not Applicable

b. The year of import: Not Applicable

c. Whether the technology been fully absorbed: Not
Applicable

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

iv) The expenditure incurred on Research and
Development: NIL

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO

Foreign Exchange earned (actual inflows during the
year): NIL

Foreign Exchange outgo (actual outflows): NIL

n) A statement including development and
implementation of a Risk Management Policy for
the company including identification therein of
elements of risk, if any, which in the opinion of the
board may threaten the existence of the company

The Directors do not foresee any risk that may threaten
the existence of the company in normal course. The
Directors proposes to develop and implement specific
Risk Management Policy on identification of any risk.

o) The details about the policy developed and
implemented by the company on corporate social
responsibility initiatives taken during the year;

Since the Net Worth of the company is below Five
Hundred crores, Turnover of the company is below One
thousand crores, Net Profit of the company is below
Fivecrores. The provision of Section 135 of The
Companies Act, 2013 are not applicable to the
company and hence the company is not required
undertake any corporate Social Responsibility (CSR)
initiatives.

p) In case of a listed company and every other public
company having such paid-up share capital as may
be prescribed, a statement indicating the manner in
which formal annual evaluation has been made by
the Board of its own performance and that of its
committees and individual directors:

Pursuant to provision of the Companies Act, 2013 the
board has carried out the annual performance
evaluation of its own performance as well as the
evaluation of the Audit, Nomination & Remuneration
Committee.

The chairman of Board of directors and the chairman of
Nomination & remuneration Committee met all the
directors individually to get an overview of the
functioning of the board and its constituents inter alia
on the following board criteria i.e. attendance and level
of participation, independence of judgment exercised
by independent directors, interpersonal relationship etc.
Based on the valuable inputs received the directors are

encouraged for effective role in company management.

q) Such other matters as may be prescribed.

(Pursuant to rule 8(5) of The Companies (Accounts)
Rules, 2014)

i) The Financial summary or highlights(Amount in
Lakhs)

The summary of financial Results (standalone) for the
year under review is as under :

ii) The Change in the nature of business, if any:

There is no Material change in nature of business of the
company.

iii) The Details of Directors or key managerial
personnel who were appointed or have resigned
during the year:

Details of Appointment and Resignation of Director /
KMP during the year areas under:-

(iiia) A statement regarding opinion of the Board with
regard to integrity, expertise and experience
(including the proficiency) of the independent
directors appointed during the year:

No Independent director was appointed in the company
during the year.

iv) The names of companies which have become or
ceased to be its Subsidiaries, joint ventures or
associate companies during the year:

No company has become or ceases to be subsidiary,
joint venture or associate company during the year.

v) The details relating to deposits, covered under
Chapter V of the Act,-

(a) Accepted during the year: NIL

(b) Remained unpaid or unclaimed as at the end of the
year: NIL

(c) Whether there has been any default in repayment of
deposits or payment of interest thereon during the year
and if so, number of such cases and the total amount
involved-

(i) At the beginning of the year: Not Applicable

(ii) Maximum during the year: Not Applicable

(iii) At the end of the year: Not Applicable

vi) The details of deposits which are not in compliance
with the requirements of Chapter V of the Act: NIL

vii) The details of significant and material orders
passed by the regulators or courts or tribunals
impacting the going concern status and company's
operations in future: NIL

viii) The details in respect of adequacy of internal
financial controls with reference to the Financial
Statements.

The company has in place adequate internal financial
controls with reference to financial statements. Periodic
audits are undertaken on continuous basis covering all
major operation. During the year no Reportable
Material weakness in the operation was observed.

ix) A disclosure, as to whether maintenance of cost
records as specified by the Central Government
under sub-section (1) of section 148 of the
Companies Act, 2013, is required by the Company
and accordingly such accounts and records are
made and maintained.

Company is not required to maintain the cost records
as specified by the Central Government under sub¬
section (1) of section 148 of the Companies Act, 2013.

x) A statement that 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.

The Company has adopted a policy on prevention,
prohibition and Redressal of Sexual harassment at
workplace and has duly constituted an Internal
Complaints Committee in line with the provisions of the
Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013.

No Employee of the company has been paid Remuneration
in excess of limits laid down in rule 5(2) of the companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014 and hence statement showing details thereof is
not applicable.

Audit Committee

An Audit Committee is in existence under provisions of
Section 177 of the Companies Act, 2013 and
Regulation 18 of Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Audit committee comprises of 3
directors namely Mr. Naresh Nanalal Vaghani, Mr. Kirti
Jethalal Doshi and Smt. Rupa Ramnikbhai Zaveri. Mr.
Naresh Nanalal Vaghaniis the Chairman of the Audit
Committee. During the year there was no instance
where the board had not accepted the
Recommendation of Audit Committee.

Vigil Mechanism / Whistle Blower Policy

Pursuant to section 177(9) of the Companies Act, 2013 read
with Rule 7 of the Companies (Meetings of Board and its
Power) Rules, 2014, the Board of Director has adopted vigil
mechanism in the form of Whistle Blower Policy through
which, its Directors, Employees and Stakeholders can
report their genuine concerns about unethical behaviors,
actual or suspected fraud or violation of the Company's
code of conduct or ethics policy.

It is the Company's Policy to ensure that no employee is
victimised or harassed for bringing such incidents to the
attention of the Company. The practice of the Whistle
blower Policy is overseen by the Audit Committee of the

Board and no employee has been denied access to the
Committee.The said policy provides for adequate
safeguards a gainst victimization and also direct access to
the higher levels of supervisors.

Mr. Naresh Nanalal Vaghani, the Chairman of the Audit
Committee can be contacted to report any suspected/
confirmed incident of fraud / misconduct on:

Email id.:amitintl03@yahoo.com
Contact no.: 022-2209 5533

Your Company hereby affirms that no Director/Employee
has been denied access to the Chairman of the Audit
Committee and that no complaints were received during the
year.

The Board of Directors place on records the services of all
stakeholders and associates who have co-operated in the
working of the Company

By Order of the Board of Directors
For Amit International Limited

Place : Mumbai
Date : 04/09/2024

Kirti Jethalal Doshi (DIN: 01964171)
Chairman and Managing Director