Dear Members,
Your Directors have pleasure in presenting before you their 41stAnnual
Report together with the Audited Accounts of the Company for the year ended 31st
March, 2024.
FINANCIAL RESULTS:-
The standalone financial results of theCompany for the year under review are
summarizedfor your consideration:
| Particulars |
2023-2024 |
2022-2023 |
|
(Amount in Lacs) |
(Amount in Lacs) |
| Gross Income |
742.498 |
540.734 |
| Expenses |
334.926 |
253.550 |
| Profit Before Exceptional item, Depreciation and Tax |
407.572 |
287.184 |
| Exceptional Item |
0 |
7.159 |
| Profit Before Depreciation and Tax |
407.572 |
280.025 |
| Depreciation |
1.496 |
0.359 |
| Net Profit Before Tax |
406.076 |
280.203 |
| Provision for Tax |
105.472 |
72.121 |
| Net Profit After Tax |
300.604 |
207.545 |
| Basic EPS |
0.997 |
0.689 |
| Diluted EPS |
0.997 |
0.689 |
STATE OF COMPANY'S AFFAIRS/ BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE
YEAR/HIGHLIGHTS/OPERATIONS
Emerald's Journey Towards Financial Excellence
DIVIDEND :-
Your Directors have recommended dividend of INR 0.10 per share inthe current financial
year.
RESERVE:
Entire amount of Net Profit has been transferred to Profit and Loss Surplus account,
which appears under the head “Reserves and Surplus.” An amount of INR
60,12,080/- has been transferred to Statutory Reserve Fund u/s 45 IC @20% .
SHARE CAPITAL
The Authorised Share Capital of the company is Rs. 50,00,00,000/- divided into
5,00,00,000 Equity Shares of Rs. 10/- each. The paid up share capital of the company is
Rs. 30,14,36,500/- divided into 3,01,43,650 Equity Shares of Rs. 10/- each for the period
endedMarch 31, 2024.
- The Company has not bought back any of its securities during the year under review.
- The Company has issued Employee Stock Option Schemes during the year under review.
- No Bonus Shares were issued during the year under review.
- The companyhas not issued any shares with differential voting rights during the
financial year.
EMPLOYEE STOCK OPTION SCHEME:
Pursuant to the approval of the Members through Postal Ballot dated 24th
October, 2023, the Board of directors of the Company approved the ‘EFL ESOP Scheme
2023' (“Scheme”) as per the Regulations of Securities and Exchange Board of
India (Share Based Employee Benefits) Regulations, 2014.
During the previous financial year 2023-24, the Nomination and Remuneration Committee
of the Board in their meeting held on February 29, 2024 granted 1,80,000 stock options and
on March 22, 2024 granted 50,000 stock options to the eligible Employees as per the Scheme
of the Company at an exercise price of Rs.27 per share. The options granted under the Plan
shall be exercised not earlier than minimum period of 1 (one) year and not later than
maximum period of 4 (four) years from the date of vesting.
The Scheme of the Company is in compliance with SEBI (Share Based Employee Benefits and
Sweat Equity) Regulations, 2021 (SEBI SBEB & SE Regulations). Secretarial Auditors'
certificate to the effect that the Scheme of the Company has been implemented in
accordance with the SEBI Guidelines and as per the resolution passed by the members of the
Company has been obtained by the Company.
DIRECTORS: -
In accordance with the provisions of the Companies Act, 2013 and Articles of
Association of the Company, Mr. SanjayAggarwal (DIN 02580828), Managing Director of the
Company retires by rotation in the ensuing Annual General Meeting and being eligible offer
him for re-appointment.
DECLARATION BY INDEPENDENT DIRECTORS
All Independent Directors of the Company have given declarations that they meet the
criteria of Independence as laid down under Section 149 (6) of the Companies Act, 2013 and
Regulation 25 of SEBI (LODR) Regulations.
KEY MANAGERIAL PERSONNEL
The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of the
Companies Act, 2013 are as follows:
| Mr. Sanjay Aggarwal |
Managing Director |
| Mrs. Anubha Aggarwal |
Non-executive, Non- Independent Director, Member |
| Ms. SheetalKapoor |
Chief Financial Officer |
| Mrs. Amarjeet Kaur |
Company Secretary |
OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013
Your Company has zero tolerance policy in case of sexual harassment at workplace and is
committed to provide a healthy environment to each and every employee of the company. The
Company has in place “Policy for Prevention and Redressal of Sexual Harassment”
in line with the requirements of sexual harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (hereinafter referred to as ‘the said Act') and
Rules made there under. As per the provisions of Section 4 of the said Act, the Board of
Directors has constituted the Internal Complaints Committee (ICC) at the Registered
Office, Works to deal with the Complaints received by the company pertaining to gender
discrimination and sexual harassment at workplace.
Further, as per the provisions of Section 21& 22 of the aid Act, the Report in
details of the number of cases filed under Sexual Harrasement and their disposal for the
financial year under review, is as under:
Sr. No. No. of cases pending as on the beginning of the financial year
under review |
No. of complaints filed during the financial year under review |
No. of cases pending as on the end of the financial year under review |
| 1. NIL |
NIL |
NIL |
EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS
Mr. Deepak Gour, Director (Independent) has resigned from the company w.e.f. 7th
August, 2024 due to his professional commitments. Mr. Manjeet Kaushik (DIN: 10746402) and
Mr. Akshay Kumar Agarwal(DIN: 07144917)are appointed as Additional Directors in the
capacity of Independent Directorw.e.f. 17th August, 2024 subject to approval of
Shareholders to hold office for a term upto fiveconsecutive years commencing from the date
of ensuing Annual General Meeting.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
The Company has issued and allotted 26,31,579convertible warrants on a preferential
basis having face value of Rs. 10/- each at a price of Rs. 38/- each on May 7, 2024
pursuant to the permission of members taken through Extraordinary General meeting held on
19th April, 2024.
MAJOR CHANGES HAPPENING DURING THE FINANCIAL YEAR
Your Directors wish to inform that there have not been any changes during the Financial
Year under review: a. In the nature of Company's business b. Generally in the class of
business in which the Company has an interest.
LISTING AND LISTING REGULATIONS:-
The equity shares of the company are listed on the BSE Ltd. During the year, Company
executed Uniform Listing Regulations in accordance with the requirements of SEBI circular
DCS/ COMP/12/2015-16 dated October 13, 2015, with BSE Limited.
The company is regular in paying the listing fee.
INSIDER TRADING:
The Board of Directors has adopted The Code of Conduct for Prevention of Insider
Trading in accordance with the requirements of the SEBI (Prohibition of Insider Trading)
Regulations, 2015. The Insider trading policy of the company lays down guidelines and
procedures to be followed and disclosures to be made while dealing with shares of the
Company, as well as the consequences of violation.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO
The requisite information has been given by way of an Annexure D-1 to this Report.
CORPORATE GOVERNANCE:-
Your Company is committed to maintain the highest standards of Corporate Governance. As
required under Listing Regulations, 2015, Report on Corporate Governance is annexed
herewith as Annexure D-10 and forms a part of this Annual Report. A Certificate from Mr.
Kanwaljit Singh, a Practicing Company Secretary confirming compliance with the conditions
of Corporate Governance is also annexed with the Annual Report.
BUSINESS RESPONSIBILITY REPORT
Regulation 34 (2) (f) the Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 is not applicable to the Company.
PARTICULARS OF REMUNERATION OF DIRECTORS/ KMP/EMPLOYEES:-
The information required pursuant to Section 197 read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees
of the Company, will be provided upon request. In terms of Section 136 of the Companies
Act 2013, the Report and Accounts are being sent to the Members and others entitled
thereto, excluding the information on employees' particulars which is available for
inspection by the Members at the Registered Office of the Company during business hours on
working days of the Company up to the date of the ensuing Annual General Meeting. If any
Member is interested in obtaining a copy thereof, such Member may write to the Company
Secretary in this regard.The details under Section 197 (12) of the Companies Act, 2013
read with Rules 5 (1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are given as Annexure D-4.
NUMBER OF MEETINGS OF BOARD
During the year 2023-24, 16 Board Meetings were held including one meeting of
Independent Directors on the following dates:.
Sr. no.Date of Board Meeting |
No. of Directors |
Present |
| 1 18.04.2023 |
4 |
4 |
| 2 19.05.2023 |
4 |
4 |
| 3 08.07.2023 |
4 |
4 |
| 4 17.07.2023 |
4 |
3 |
| 5 27.07.2023 |
4 |
3 |
| 6 26.08.2023 |
4 |
4 |
| 7 21.09.2023 |
4 |
4 |
| 8 12.10.2023 |
4 |
4 |
| 9 25.10.2023 |
4 |
3 |
| 10 16.11.2023 |
4 |
3 |
| 11 06.12.2023 |
4 |
2 |
| 12 15.01.2024 |
4 |
4 |
| 13 05.02.2024 |
4 |
3 |
| 14 29.02.2024 |
4 |
3 |
| 15 20.03.2024 |
4 |
3 |
| 16 20.03.2024 (Ind. Director's Meeting) |
2 |
2 |
POLICY ON DIRECTORS' APPOINTMENT AND POLICY ON REMUNERATION
Pursuant to the requirement under Section 134(3)(e) and Section 178(3) of the Companies
Act, 2013, the policy on appointment of Board members including criteria for determining
qualifications, positive attributes, independence of a Director and the policy on
remuneration of Directors, KMP and other employees is attached as Annexure D-2, which
forms part of this report.
MANAGEMENT DISCUSSION & ANALYSIS REPORT:
Management Discussion & Analysis Report for the year under review, as stipulated
under Part B of Schedule V to the Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 is presented in a separate section as
Annexure D-3 forming part of this Annual Report.
PERFORMANCE EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS
Pursuant to applicable provisions of the Companies Act, 2013 and the Listing
Regulations with Stock Exchanges, the Board, in consultation with its Nomination &
Remuneration Committee, has formulated a framework containing, inter-alia, the criteria
for performance evaluation of the entire Board of the Company, its Committees and
Individual Directors, including Independent Directors. Accordingly, following is the
criteria for evaluation: - a. Criteria for evaluation of the Board of Directors as a
whole: i. The Frequency of Meetings ii. Quantum of Agenda iii. Administration of Meetings
iv. Flow and quantity of Information from the Management to the Board v. Number of
Committees and their role. vi. Overall performance of the Company b. Criteria for
evaluation of the Individual Directors including Independent Directors; i. Experience and
ability to contribute to the decision-making process ii. Problem solving approach and
guidance to the Management iii. Attendance and Participation in the Meetings iv. Personal
competencies and contribution to strategy formulation v. Contribution towards statutory
compliances, monitoring of controls and Corporate Governance
The Independent Directors had met separately on 20.03.2024 without the presence of
Non-Independent Directors and the members of management and discussed, inter-alia, the
performance of non-Independent Directors and Board as a whole and the performance of the
Chairman of the Company after taking into consideration the views of Executive and
Non-Executive Directors.
The Nomination and Remuneration Committee has also carried out evaluation of every
Director`s performance. The performance evaluation of all the Independent Directors have
been done by the entire Board, excluding the Director being evaluated. On the basis of
performance evaluation done by the Board, it shall be determined whether to extend or
continue their term of appointment, whenever the respective term expires.The Directors
express their satisfaction with the evaluation process.
STATUTORY AUDITORS & AUDITORSREPORT: -
M/s S. Lal Bansal & Co., Chartered Accountants, Chandigarh, was appointed as
Statutory Auditors of the Company in the last Annual General Meeting to hold office till
the conclusion of Annual General Meeting to be held in the year 2027. The Auditors' Report
being self-explanatory requires no comments from the Directors. Further, there are no
reservations, qualifications or adverse remarks in the Audit Report given by them in
respect of the Financial Year 2023-24.
SECRETARIAL AUDITORS AND THEIR REPORT
Mr. Anil Negi (M. No. 46547), a Company Secretary in practice having CP No. 17213, was
appointed as Secretarial Auditor of the Company till the financial year 2024 pursuant to
Section 204 of the Companies Act, 2013. As required by Listing Regulations, he has been
appointed as Secretarial Auditor of the subsidiary company on 31.03.2021 for a term of 5
years.
The Secretarial Audit Report of the company and its subsidiary as submitted by him in
the prescribed form MR-3 is attached as Annexure D-5 and forms part of this report.
FRAUDS REPORTED BY AUDITORS
There are no frauds reported by auditors under sub-section (12) of section 143
including those which are reportable to the Central Government.
COST AUDIT
As per the Cost Audit Orders, Cost Audit is not applicable to the Company.
CONSOLIDATED FINANCIAL STATEMENTS
Your Directors have pleasure in attaching the Consolidated Financial Statements
pursuant to Section 129(3) of the Companies Act, 2013 (Act) and SEBI Listing Regulations
and prepared in accordance with the Accounting Standards prescribed by the Institute of
Chartered Accountants of India, in this regard.
INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY
As required pursuant to provisions of section 134(1) (e) of the Act, the Company has a
well-placed, proper and adequate internal financial control system, commensurate with the
size, scale and complexity of its operations. The scope and authority of the internal
Audit function is well defined in the Organization. The internal financial control system
ensures that all assets are safeguarded and protected and that the transactions are
authorized, recorded and reported correctly.
DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT
The Company has in place 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 and also the comprehensive risk assessment and
minimization procedures, which are reviewed by the Board periodically as per the Risk
Management Policy of the Company, framed in terms of the Companies Act, 2013. The risks
faced by the Company and their minimization procedures are assessed by the Board. Further,
the Company identifies risks, and control systems are instituted to ensure that the risks
in each business process are mitigated. The Board provides oversight and reviews the Risk
Management Policy on a regular basis. In the opinion of the Board there has been no
identification of elements of risk that may threaten the existence of the Company.
SUBSIDIARIES/ASSOCIATES
The Company has a subsidiary M/s Eclat Net Advisors Pvt. Ltd. (CIN:
U74140CH2015PTC035473) as defined in the Companies Act, 2013. Report on the performance
and financial position of the subsidiary in the specified format AOC-1 is annexed to the
Directors' Report as Annexure D-6.
DEPOSITS
The Company has neither accepted nor renewed any deposits during the Financial Year
2023-24 in terms of Chapter V of the Companies Act, 2013. Information in this regard,
therefore, is nil. There was no noncompliance of provisions of chapter V of the Companies
Act, 2013.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERNS STATUSAND COMPANY`S OPERATIONS IN FUTURE
The Company has not received any significant or material orders passed by any
Regulatory Authority, Court or Tribunal which shall impact the going concern status and
Company`s operations in future.
CORPORATE SOCIAL RESPONSIBILITY
The Company is not covered under section 135 of Companies Act, 2013 hence details
regarding policy on Corporate Social Responsibility is not applicable to the
Company.However the company is voluntarily contributing towards CSR, mainly towards girls'
education and treatment of economically weaker patients.
AUDIT COMMITTEE
Your Directors wish to inform that in Compliance with Section 177 of the Companies Act,
2013 and Regulation 18 of Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, an audit committee has been duly constituted.
The Audit Committee as on March 31, 2024comprises of the following Directors:
| Mr. Deepak Gour |
Independent Director, Chairman |
| Mr. Raman Aggarwal |
Independent Director, Member |
| Mrs. Anubha Aggarwal |
Non - Executive , Non-Independent Director, Member |
Details of the Audit Committee have been separately given in the corporate governance
report. Further, all recommendations of Audit Committee were accepted by the Board of
Directors.
NOMINATION & REMUNERATION COMMITTEE
In terms of Regulation 19 of Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and pursuant to the provisions of section
178 of the Companies Act, 2013, Nomination & Remuneration Committee as on March 31,
2024 comprises of the following Directors:
| Mr. Deepak Gour |
Independent Director, Chairman |
| Mrs. Anubha Aggarwal |
Non-executive, Non - Independent Director, Member |
| Mr. Raman Aggarwal |
Independent Director, Member |
The details of Remuneration Policy and the Committee are furnished in the Report on
Corporate Governance, which is annexed herewith.
STAKEHOLDERS RELATIONSHIP COMMITTEE
In terms of Regulation 20 of Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Company has constituted Stakeholders
Relationship Committee with following composition as on31.03.2024: -
| Mrs. Anubha Aggarwal |
Non-executive, Non - Independent Director, Chairperson |
| Mr. Raman Aggarwal |
Independent Director, Member |
| Mr. Sanjay Aggarwal |
Managing Director, Member |
ANNUAL RETURN
The Annual Return of the Company, pursuant to sub-section 3(a) of Section 134 and the
provisions of Section92 read with Rule 12 of the Companies (Management and Administration)
Rules, 2014 for the financial year 2023-2024 in the Form MGT-7 has been uploaded on
Company's website and the web link for the same is
https://emeraldfin.com/wp-content/uploads/2024/08/Draft-Form_MGT_7-2024.pdf
The extract of Annual Return as on March 31, 2024 in the prescribed Form No. MGT-9,
pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12 (1) of the Companies
(Management and Administration) Rules, 2014 is attached herewith as Annexure-D-7 and forms
part of this Report.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT,
2013
Pursuant to Section 134(3)(g) of the Companies Act, 2013 particulars of loans,
guarantees or investments under Section 186 of the Act as at end of the Financial Year
2023-24 are not applicable to the company as company is a non banking finance company,
though the information is attached as Annexure D-8 which forms part of this report.
CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES UNDER SECTION 188(1) OF THE COMPANIES
ACT, 2013
With reference to Section 134(3)(h) of the Companies Act, 2013, all contracts and
arrangements with related parties under Section 188(1) of the Act, entered by the Company
during the financial year, were in the ordinary course of business and on an arm's length
basis. Hence, provisions of Section 188 (1) are not applicable. However, as these
transactions were in the ordinary course of business and on an arm's length basis, in the
opinion of the Board these transactions are justified to be executed. The detail of these
transactions is given in Annexure D-9, which forms part of this report.
During the year, the Company had not entered into any contract or arrangement with
related parties which could be considered ‘material' according to the policy of the
Company on Materiality of Related Party Transactions. Your attention is also drawn to the
Related Party disclosures set out in Note no. 27of the Financial Statements.
VIGIL MECHANISM
The Company has established a Vigil Mechanism cum Whistle Blower Policy in terms of
Section 177 (10) of the Companies Act, 2013 and also in terms of Regulation 22 of
Securities Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The detail of the said Vigil Mechanism cum Whistle Blower Policy is
given in the Corporate Governance Section, which is annexed herewith. The Vigil Mechanism
cum Whistle Blower Policy is also available on the Company's website
https://www.emeraldfin.com/wp-content/uploads/2017/09/ Whistle-Blower-Policy.pdf.
DIRECTORS' RESPONSIBILITY STATEMENT:-
(a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures; (b) 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 at the end of the financial year and of the profit
and loss of the company for that period; (c) the directors had taken proper and sufficient
care 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 directors had prepared the annual accounts on a
going concern basis; (e) 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. (f) the directors had devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems were adequate and
operating effectively.
COMPLIANCE
The company has devised proper systems to ensure compliance of all laws applicable to
the company and the compliance reports issued by the Departmental Heads are placed before
the Board every Quarter confirming compliance by the Company with all applicable Laws.
CEO/CFO CERTIFICATION
In accordance with Regulation 17 (8) read with Part B of Schedule V to the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015 pertaining to corporate governance norms the
Managing Director has submitted necessary certificate to the Board of Directors stating
the particulars specified under the said Clause. The certificate has been reviewed by the
Audit Committee and taken on record by the Board of Directors.
DEMATERIALIZATION OF SHARES
As mentioned in Company's earlier Annual Reports, the Company's equity shares are in
compulsory Demat mode in terms of SEBI Guidelines. This has been facilitated through
arrangement with NSDL and CDSL. About 98.94% of the shares of the Company are already in
dematerialized form. M/s Mas Services Limited, New Delhi is acting as the Registrar and
Share Transfer Agents for this purpose and acts as common share agency in terms of SEBI
Guidelines.
TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
Your Company did not have any funds lying unpaid or unclaimed for a period of seven
years. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection Fund (IEPF).
COMPLIANCE WITH THE SECRETARIAL STANDARDS
The company has duly complied with the applicable Secretarial Standards during the
financial year 2023-24.
SUMS DUE TO MICRO, SMALL & MEDIUM ENTERPRISES
There is no liability towards principal and interest payable to Micro, Small &
Medium Enterprises as on 31st March, 2024.
ONE TIME SETTLEMENTS
The Company has not made any one-time settlement for loans taken from the Banks or
Financial Institutions, and hence 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.
SUSTAINABILITY INITIATIVE
Your Company is conscious of its responsibility towards preservation of natural
resources and continuously takes initiatives to reduce consumption of electricity and
water.
CORPORATE INSOLVENCY RESOLUTION PROCESS INITIATED UNDER THE INSOLVENCY AND BANKRUPTCY
CODE, 2016 (IBC)
No Insolvency resolution process has been initiated/ filed by a financial or
operational creditor or by the company itself under the IBC before the NCLT.
ACKNOWLEDGEMENT:-
The Directors take this opportunity to express their deep sense of gratitude to its
Central and State Governments and local authorities for their continued co-operation and
support.
They also would like to place on record their sincere appreciation for the commitment,
hard work, and high engagement level of every employee of the Company.
The Directors would also like to thank various stakeholders of the Company including
Clients, Reserve Bank of India, Company's Bankers, advisors, local community, etc. for
their continued committed engagement with the Company.
They would also like to thank the shareholders of the Company for their confidence and
trust reposed in the management team of the Company.
| For & On Behalf of the Board |
For& On Behalf of the Board |
| Sd/- |
Sd/- |
| (Sanjay Aggarwal) |
(Anubha Aggarwal) |
| MANAGING DIRECTOR |
DIRECTOR |
| (DIN 02580828) |
(DIN 02557154) |
| PLACE: CHANDIGARH |
| Date: 21.08.2024 |
|