Your Directors have pleasure in presenting the 28^th Annual Report and Audited Statement of
Accounts for the year ended 31^st March, 2024.

FINANCIAL RESULTS :

The Financial Results of the Company are summarized as follows:

STATE OF AFFAIRS:

There has been no change in the business of the Company during the financial year ended 31^st
March, 2024.

Revenue from Operations has increased from Rs 1,90,25,85,724/- in the previous year to Rs.
2,21,29,19,310/- in the current year. The Company has made a profit Rs. 11,15,97,786/- in the
current year as compare to profit of Rs. 9,92,04,519/- in the previous year as per Standalone
financials.

Revenue from Operations has increased from Rs 1,90,25,85,724/- in the previous year to Rs.
2,21,29,19,310/- in the current year. The Company has made a profit Rs. 12,31,73,014/- in the

current year as compare to profit of Rs. 9,91,38,901/- in the previous year as per Consolidated
financials.

DIVIDEND :

With a view to conserve the resources of the Company, the Directors have not recommended any
dividend for the year ending 31^st March 2024.

ANNUAL RETURN

Annual Return is displayed on the Company’s website at www.eleganz.co.in.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

a. Composition:

The Board of Directors as on March 31,2024 are mentioned below:

b. Changes in Directors:

Following are the changes that was conducted in board structure and the KMP:

Ms. Sonal Pakvasa was appointed as director of the company on 14^th August 2023.

Ms. Archana Desai was appointed as Chief Financial Officer of the Company w.e.f. 30^th
November 2023.

Mr. Sameer Pakvasa was appointed as Managing Director of the Company w.e.f. December

29.2023.

Mr. Mayank Sharma was appointed as Whole Time Director of the Company w.e.f. December

29.2023.

Mr. Rahul Sharma was appointed as Company Secretary and Compliance Officer of the Company
w.e.f 20^th February 2024.

DECLARATION OF INDEPENDENT DIRECTORS:

The provisions of Section 149(4) of the Act pertaining to the appointment of Independent
Directors are not applicable to the Company.

COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS:

The Company has duly followed the applicable Secretarial standards, relating to Meeting of the
Board of Directors (SS-1) and General Meeting (SS-2), issued by the Institute of Company
Secretaries of India (ICSI).

COMMITTEES OF THE BOARD:

a. AUDIT COMMITTEE:

The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the
Companies (Meetings of the Board and its Powers) Rules, 2013 does not apply to the Company.
Hence, disclosure pursuant to Section 177 (8) of the Companies Act, 2013 is not required.

b. NOMINATION AND REMUNERATION COMMITTEE:

The provisions of Section 178(1) relating to the constitution of the Nomination and Remuneration
Committee do not apply to the Company and hence the Company has not devised any policy as
required under section 178(1) of the Companies Act, 2013.

c. STAKEHOLDER RELATIONSHIP COMMITTEE:

The provisions of Section 178 of the Act relating to the constitution of the Stakeholders
Relationship Committee do not apply to the Company and hence the Company has not devised any
policy as required under Section 178 of the Companies Act, 2013

d. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR):

The provisions of formulation of CSR Committee as per Section 135 of the Companies Act,2013
do not apply to the Company and hence the Company has not devised any policy as required under
Section 135 of the Companies Act,2013

NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER
REVIEW:

The Company had Eleven Board meetings during the financial year under review.

AUDITORS’ REPORT

There was no qualifications, reservations or adverse remarks made by the Auditors in their report.
AUDITORS

At the Annual General Meeting of the Company the Shareholders had approved appointment of
M/s Jayesh Sanghrajka and Co. LLP, Chartered Accountants (FRN No 104184W/W100075) as
Statutory auditor of the company until the conclusion of AGM to be held in the year 2027.

As required under Section 134 of the Act (including any statutory modification(s) and/or re¬
enactment^) thereof for the time being in force), the Directors of the Company state that

(i) in the preparation of the annual accounts for the financial year ended March 31, 2024, the
applicable accounting standards had been followed dong with the 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 on March 31, 2024, and of its profit and loss for the
financial year ended on that date;

(iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;

(iv) the Director had prepared the annual accounts for the financial year 2023-24 on a ‘going
concern’ basis; and

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

SUBSIDIARIES. JOINT VENTURES AND ASSOCIATE COMPANIES

Pursuant to provisions of Section 129(3) of the Companies Act 2013, a statement containing
salient features of the financial statements of the Company’s subsidiary named Doshi
Infrastructure Pvt Ltd in Form AOC-1 is attached to the financial statements of the Company. The
Company does not have any Joint venture or Associate Company In India. However the Company
have one associate Company named Eleganz Interiors Pte Ltd a Company Incorporated outside
India.

PARTICULARS OF EMPLOYEES :

Particulars of employees required to be furnished under Rule 5(2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 form part of this report as Annexure I.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED
PARTIES:

The particulars of Contracts or arrangements with related parties referred to in Section 188(1) of
the Companies Act, 2013 as prescribed in Form AOC-2 under Rule 8(2) of the Companies
(Accounts) Rules, 2014, is annexed to this Report as Annexure II.

The annual report on Corporate Social Responsibility is enclosed as Annexure III pursuant to the
Companies (Corporate Social Responsibility Policy) Rules, 2014. The Policy is displayed on
website of the Company.

RISK MANAGEMENT

Risk Management is embedded in your Company’s operating framework. The Company’s
approach to addressing business risks is comprehensive and includes periodic review of such risks
and a framework for mitigating controls and reporting mechanism of such risks.

INTERNAL FINANCIAL CONTROLS

The Company has in place well defined and adequate internal financial control framework. During
the year, such controls were tested and no material weaknesses in their design or operation were
observed.

INTERNAL AUDITORS

The Provisions of Internal Audit are not applicable to Company.

CAPITAL STRUCTURE:

Following are the changes in the Capital structure of the Company:

1. During the year under review the company had made Sub division of shares from Rs.100
per share to Rs. 10 Per Share.

2. The Company has made Bonus issue of 1,44,00,000 shares on 14^th August 2023 in the ratio
of 15:1 i.e 15 (Fifteen Shares) for every 1 (one) share held by members.

PARTICULARS OF LOANS, GUARANTEES, OR INVESTMENTS MADE UNDER
SECTION 186 OF THE COMPANIES ACT, 2013:

There was loan or guarantee given or investment made or security provided pursuant to Section
186 of the Act during the year under review. Compliance of Section 186 has been duly followed
by the Company.

INVESTOR GRIEVANCE REDRESSAL POLICY:

The Company has adopted an internal policy for Investor Grievance handling, reporting and
Redressal of the same.

DETAILS OF SIGNIFICANT MATERIAL ORDERS PASSED BY THE REGULATORS /
COURTS / TRIBUNAL IMPACTING THE GOING CONCERN STATUS AND
COMPANY’S OPERATION IN FUTURE:

During the year under review, the Company has not received any significant orders/ material
orders passed by any of Regulators/ Courts/ Tribunals impacting the going concern status of the
Company and its operations in future.

1. VIGIL MECHANISM /WHISTLE BLOWER POLICY:

The provisions of Section 177 of the Act read with Rule 7 of the Companies (Meetings of Board
and its Powers) Rules, 2014 are not applicable to the Company.

2. UNSECURED LOAN FROM DIRECTORS:

During the year under review, the Company has not borrowed an unsecured loan from any of the
Directors of the Company.

3. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place a Policy in line with the requirements of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH, 2013). The
Company has complied with the provision relating to the constitution of Internal Committee under
POSH 2013.

The Company is committed to providing a safe and conducive work environment to all of its
employees and associates. The Company has created the framework for individuals to seek
recourse and redressal to instances of sexual harassment. During the year under review, no
complaint pertaining to sexual harassment of woman at work place has been received by the
Company.

4. REPORTING OF FRAUDS:

During the year under review, there have been no frauds reported by the Statutory Auditors of the
Company under sub-section (12) of Section 143 of the Act.

5. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH
THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR:

During the year under review and till date of this Report, the Company has neither made any
application against anyone nor any proceedings were pending against the Company under the
Insolvency and Bankruptcy Code, 2016.

6. DETAILS OF DIFFERENCE BETWEEN THE 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:

The Company has availed loans in normal course of its business and has repaid as per due dates.
Thus, there has not been any one time settlement for any of the loan amounts borrowed from banks
or FI’S

OTHER DISCLOSURES:

Your Directors state that no disclosure or reporting is required in respect of the following items as
there were no transactions during the year under review/are not applicable to the Company.

1. The Company has not transferred any amount to reserves during the year.

2. There have been no material changes and commitments affecting the financial position of the
Company that occurred during the period between end of the financial year to which this
financial statements relate, to the date of this report.

3. There was no loans, guarantees or investments made by the Company under Section 186 of the
Companies Act, 2013 during the year under review and hence the said provision is not
applicable.

4. The provisions of Section 178(1) relating to constitution of Nomination and Remuneration
Committee are not applicable to the Company and hence the Company has not devised any
policy relating to appointment of Directors, payment of Managerial remuneration, Directors
qualifications, positive attributes, independence of Directors and other related matters as
provided under Section 178(3) of the Companies Act, 2013.

5. The Company has neither accepted nor renewed any deposits during the year under review.

6. The provisions of Section 149 pertaining to the appointment of Independent Directors do not
apply to our Company.

7. Requirement of Maintenance of Cost records is not applicable to the Company.

8. The provisions of Section 111 of the Companies Act, 2013 read with Rule 6 and 7 of the
Companies (Meetings of the Board and its Powers) Rules, 2013 is not applicable to the
Company.

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

10. There were no instances of fraud reported by the Statutory Auditors during the year under
review.

11. There was no Issue of equity shares with differential rights or Issue of Shares (including sweat
equity shares) to employees of the Company under any Scheme except issue of shares made to
Archana Desai Chief Financial Officer of the Company pursuant to Bonus Issue.

12. Provisions relating to submission of Secretarial Audit Report are not applicable to the
Company.

13. No significant or material orders were passed by the Regulators or Courts or Tribunals which
impact the going concern status and Company's operations in future.

ACKNOWLEDGEMENTS :

The Directors would like to place on record their sincere appreciation to the Members for

their continued support.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

sameerakshay_a^dS"^s“^eer

PAKVASA Date2024.09.1619:0237

05 30

SAMEER PAKVASA

MANAGING DIRECTOR

DIN 01217325

Registered Office:

Gala Nos. 1-7, Sarita, Prabhat Industrial Estate,

102, W.E. Highway, Dahisar(E),

Mumbai-400068

Dated: 06^th September, 2024