The Directors present their Thirty Nineth Annual Report and Audited Statement of Accounts
for the year ended 31st March, 2024.

FINANCIAL RESULTS:

DIVIDEND:

The Directors regret their inability to recommend any dividend for the year under review.
WORKING & PERFORMANCE:

Your directors are trying their best to improve the performance of the company.

EXTRACT OFANNUAL RETURN:

As per the requirements of section 92(3) of the Act and Rules framed thereunder, the extract of
the Annual Return for the financial year 2023-24 is available on the website of the company at
www.tashiindia.com.

NUMBER OF BOARD MEETINGS:

During the Financial Year 2023-24, Seven (07) meetings of the Board of Directors of the
Company were held i.e. on 21/04/2023, 12/05/2023, 26/05/2023, 11/08/2023, 02/092023,
10/11/2023 and 13/02/2024.

SEPARATE MEETING OF INDEPENDENT DIRECTORS:

During the year under review, a separate meeting of Independent Directors without the
attendance of Non-Independent Directors and members of the Management, was held on 20th
Day of March, 2024, as required under Schedule IV of the Companies Act, 2013 (Code for
Independent Directors) read with Regulations 25(3) of the SEBI (Listing Obligation &
Disclosure Requirements) Regulations, 2015.

The Independent Directors inter-alia reviewed the performance of the Non-Independent
Directors, Chairman ofthe Company and the Board as a whole.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declarations from all the Independent Directors of the
Company under Section 149(7) of the Companies Act, 2013, confirming that they meet the
criteria ofIndependence laid down in Section 149(6) ofthe Companies Act, 2013.

DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act, 2013, Your Directors
confirm that:

a. In the preparation of Annual Accounts for the financial year ended March 31, 2024, the
applicable accounting standards have been followed along with proper explanation relating
to material departures.

b. The Directors have selected such accounting policies and applied them consistently and
made judgements and estimates that are 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
and loss ofthe Company for that period.

c. The Directors have taken proper and sufficient care toward 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 have been prepared on a going concern basis.

e. The Directors have laid down internal financial controls, which are adequate and are
operating effectively.

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

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION
143(12):

During the year under review, there were no frauds reported by the Statutory Auditors to the Audit
Committee ofthe Board under section 143(12) ofthe Companies Act, 2013.

PUBLIC DEPOSITS:

The company being a Non-Banking Finance Company has not accepted any deposits from the
public during the year under review and shall not accept any deposits from the public without
obtaining prior approval of RBI.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED
PARTIES:

Particulars of Related Party Transactions, covered under Section 188 of the Companies Act, 2013
are given in notes to the Financial Statements provided in this Annual report, if any.

SECRETARIAL AUDITOR:

The Board of Directors of the Company has appointed M/s. More Daliya & Associates,
Practicing Company Secretaries, Nagpur, to conduct Secretarial Audit for the Financial Year
2023-24. The Secretarial Audit Report for the Financial Year ended on March 31,2024 is annexed
herewith to this Report.

The said report does not contain any qualification, reservation or adverse remark by the
Secretarial Auditor.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

Particulars of loan, guarantee and investments, if any covered under Section 186 of the
Companies Act, 2013 are given in notes to the Financial Statements provided in this Annual
report.

CORPORATE SOCIAL RESPONSIBILITY POLICY:

Your Directors informed that the Company is not required to abide the provisions of Section 135
of the Companies Act, 2013 and Rules made thereunder and Regulation 15(2) of SEBI (Listing
Obligation & Disclosure Requirement) Regulations 2015 in relation to the Corporate Social
Responsibility as the Company is not covered under any of the conditions / criteria mentioned
under Section 135 of the Companies Act, 2013 and SEBI (Listing Obligation & Disclosure
Requirement) Regulations 2015.

BOARD EVALUATION:

The Companies Act 2013 states that a formal annual evaluation needs to be made by the Board
and Schedule IV of the Companies Act 2013 states that the performance evaluation of
Independent Directors shall be done by the entire Board of Directors, excluding the Director
being evaluated. The evaluation of all the Directors and the Board as a whole was being
conducted.

AUDIT COMMITTEE:

In terms of Section 177 ofthe Companies Act, 2013 read with Rule 6 ofthe Companies (Meetings
of Board and its Powers) Rules, 2014, the Audit Committee of the Board of Directors consisting
of below mentioned Independent Directors:

(i) Mr. Akshay Ranka (DIN: 00235788) - Chairman (Independent Director)

(ii) Mr. S.C.Agrawal (DIN: 00511873) - Member (Independent Director)

(iii) Mrs. Shweta Jejani (DIN: 07097052) - Member (Independent Director)

as a practice of good Corporate Governance. All the recommendations made by the Audit
Committee were accepted by the Board.

NOMINATION & REMUNERATION COMMITTEE:

In terms of Section 178 ofthe Companies Act, 2013 read with Rule 6 ofthe Companies (Meetings
of Board and its Powers) Rules, 2014, the Company has constituted Nomination & Remuneration
Committee ofthe Board of Directors consisting ofbelow mentioned Independent Directors:

(i) Mr. Akshay Ranka (DIN: 00235788) - Chairman (Independent Director)

(ii) Mr. S.C.Agrawal (DIN: 00511873) - Member (Independent Director)

(iii) Mrs. Shweta Jejani (DIN: 07097052) - Member (Independent Director)

as a practice of good Corporate Governance.

VIGIL MECHANISM:

The Vigil Mechanism of the Company, which also incorporates a whistle blower policy in terms
of Section 177(9) of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligation &
Disclosure Requirement) Regulations, 2015, includes an Ethics comprising senior Executives of
the Company. Protected disclosures can be made by a whistle blower through an e-mail or letter.
The policy on vigil mechanism may be accessed on the Company's website at
www.tashiindia.com.

CODE OF CONDUCT:

Your Directors informed that pursuant to provisions of Regulation 17(5) of SEBI (Listing
Obligation & Disclosure requirement) Regulations, 2015 every Listed Company is under an
obligation to adopt a policy on Code of Conduct for all the Members ofthe Board of Directors and
Senior Management. As per the said Regulation, the Board of Directors adopted the Policy on
code of conduct for all the Members of Board of Directors and Senior management of the
Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, RESEARCH AND
DEVELOPMENT:

Your Directors are of the opinion that with respect to conservation of energy and technology
absorption as prescribed under Section 134(3)(m) of the Companies Act 2013 read with the
Companies (Accounts) Rules, 2014 are not relevant in view of the nature of business activities of
the Company and hence, are not required to be given.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

During the year under review, there is no foreign exchange earnings, outgo and expenditure.
DIRECTORS:

In view of the provisions of the Companies Act, 2013, Shri Rohit Bajaj (DIN: 00511745) retires
from the Board by rotation this year and being eligible, offers himself for re-appointment.

ASSOCIATE COMPANIES:

The Company is an Associate of M/S Rohit Techserve Limited (Formerly Known as Rohit
Machines and Fabricators Limited) by virtue of section 2(6) of the Companies act, 2013 pursuant
to Proviso to Section 129(3) ofthe Companies Act, 2013 statement containing the salient features
ofthe financial statement ofthe Company's Associate is attached herewith.

CONSOLIDATED FINANCIAL STATEMENTS:

The Board of Directors also present the Audited Consolidated Financial Statements
incorporating the duly audited financial statements of the Associate Company and as prepared in
compliance with the Companies Act, 2013 and all other applicable provisions.

A separate statement containing the salient features of our associate Company in the prescribed
form AOC-1 is annexed.

LISTING OF SHARES:

The Shares of the Company continued to be listed on the Stock Exchange, Mumbai. The
Company has paid the annual listing fee for the financial year 2023-24.

The Equity Shares of the Company has the Electronic connectivity under ISIN No.
INE552H01017 To provide service to the Shareholders, the Company has appointed M/s. Adroit
Corporate Services Private Limited, 1st Floor, 19, Jaferbhoy Industrial Estate, Makwana Road,
Marol Naka, Mumbai-400 059 as Registrar and Transfer Agent of the Company for existing
physical based and allied Secretarial Services for its Members / Investors and for Electronic
Connectivity with NSDL and CDSL.

STATUTORY AUDITORS AND AUDITORS' REPORT:

Pursuant to the provisions of section 139 of the Companies Act, 2013 and the rules made
thereunder, the auditors of the Company M/s VMSS & Associates, Chartered Accountants,
Kolkata (Firm Reg. No. 328952E), were appointed at the Annual General Meeting of Financial
Year 2021-22 by the shareholders for a term of 05 (Five) Years commencing from the conclusion
ofthe 37th Annual General Meeting till the conclusion ofthe 42nd Annual General Meeting.

DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE
REGULATORS OR COURT OR TRIBUNAL:

During the year under review, there are no orders passed by any authorities which impacts the
going concern status and company's operations in future.

INTERNAL FINANCIAL CONTROLS:

The Company has in place adequate internal financial controls with reference to financial
statements. During the year, such controls were tested and no reportable material weakness in the
design or operation was observed.

PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE,
2016:

No application has been made under the Insolvency and Bankruptcy Code; hence the requirement
to disclose the 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 ofthe financial year is
not applicable.

DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME
SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND
FINANCIAL INSTITUTIONS:

During the year under review, there has been no one time settlement of loans taken from Banks
and Financial Institutions.

STATUTORY DISCLOSURES:

None of the Directors of your Company are disqualified as per the provisions of Section 164(2) of
the Companies Act, 2013. Your Directors have made necessary disclosures, as required, under
various provisions ofthe Companies Act, 2013 and SEBI LODR.

MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE
COMPANY:

No material changes / events affecting the financial position of the Company occurred between
the ends ofthe financial year 31st March, 2024 till date ofthis report.

ACKNOWLEDGEMENT:

Your Directors are grateful to Bankers for their continued support, co-operation and assistance
during the year. Your Directors express their thanks for the sincere and dedicated efforts put in by
the workers, staff and officers during the year.

Registered Office: By Order of the Board,

Imambada Road, For Tashi India Ltd.

Nagpur-440018 (Maharashtra)

Akshay Ranka S.C. Agrawal

Place: Nagpur Director Director

Date: 05/09/2024 (DIN: 00235788) (DIN: 00519575)

Ranka Colony, Vakilpeth, Vasant Nagar, Laxmi Nagar,

Hanuman Nagar, Nagpur - 440009 Nagpur-440022