Directors Report of Alka India Ltd.

Mar 31, 2025

Your Directors have pleasure in presenting the 31^st Annual Report of your Company together
with the Audited Statements of Accounts for the year ended March 31, 2025:

(Amount in Lakhs)

Particulars	Standalone		Consolidated
	Year Ended 31.03.2025	Year Ended 31.03.2024	Year Ended 31.03.2025	Year Ended 31.03.2024
Revenue from Operations	-	-	-	-
Other Income	6.27	6.00	6.76	6.42
Total Revenue	6.27	6.00	6.76	6.42
Cost of Raw Materials Consumed
Purchase of Stocks in Trade	-	-	-	-
Changes in inventories of Finished Goods and Work in Progress
Employee Benefits Expenses	2.20	2.72	2.20	2.72
Finance Costs	-	-	-	-
Depreciation and Amortization
Other Expenses	48.65	24.34	48.84	24.50
Total Expenses	50.85	27.06	51.04	27.22
Profit/(Loss) before tax	(44.58)	(21.06)	(44.28)	(20.80)
Exceptional Items	-	(231.97)	-	(3.42)
Tax Expense	-	-	-	-

Net Profit/(Loss) after tax	(44.58)	(253.03)	(44.28)	(24.22)
Other Comprehensive Income/(Expenses)
Total Comprehensive Income for the year	(44.58)	(253.03)	(44.28)	(24.22)

STANDALONE FINANCIAL HIGHLIGHTS

For the financial year ended 31st March, 2025, your Company has reported Net Loss of ^ 44.58
Lakhs as compared to previous financial year 2023-24 Net Loss of ^ 253.03 Lakhs.

For the financial year ended 31^st March, 2025, your Company has reported consolidated Net
Loss of ^ 44.28 Lakhs as compared to previous financial year 2023-24 Net Loss of ^ 24.22
Lakhs.

In a significant development, the Mumbai Bench of the National Company Law Tribunal
approved the Resolution Plan on February 7, 2025, concluding the Corporate Insolvency
Resolution Process (CIRP) initiated in December 2023 pursuant to the Insolvency and
Bankruptcy Code, 2016. During the period of CIRP, the company was managed by the
Resolution Professional and the new Board of Directors was constituted on 18^th February,
2025 and took control of the affairs of the company.

DIVIDEND

In view of losses, your Directors do not propose any dividend for the year under review.

SHARE CAPITAL & LISTING

The paid up Equity Share Capital as on March 31, 2025 was Rs. 5000.00 Lakh.

During the year, the equity share capital of Rs. 1,343.98Lakhs was written off pursuant to
approved Resolution Plan vide Hon''ble NCLT, Mumbai Bench order dated February 07, 2025.

During the year under review, the Company has not issued any share with differential voting
rights; nor granted stock options nor sweat equity.

As on March 31, 2025, none of the Directors and/or Key Managerial Person of the Company
hold instruments convertible in to Equity Shares of the Company.

The Company''s Equity Shares are listed on the BSE Limited (“BSE”]. The trading in Equity
Shares has been suspended due to the process of implementation of Resolution plan issued by
NCLT, Mumbai bench.

CORPORATE GOVERNANCE

Your directors believe that corporate governance is an ethically driven business process that is
committed to values aimed at enhancing the growth of your Company. The endeavour is to
continue and move forward as a responsible and sustainable Company in order to attract as
well as retain talents, investors and to maintain fulfilling relationships with the communities
and take all possible steps in the direction to re-write a new future for your Company.

We are committed to achieve the highest standards of ethics, transparency, corporate
governance and continue to comply with the code of conduct framed for the Board and senior
management under SEBI Listing Regulations and have maintained high standards of corporate
governance based on the principle of effective implementation of internal control measures,
adherence to the law and regulations and accountability at all levels of the organization.

Your Company''s corporate governance practices are driven by effective and strong Board
oversight, timely disclosures, transparent accounting policies and high levels of integrity in
decision making. The corporate governance report of the Company for the Year Under Review
as required under the applicable SEBI Listing Regulations is attached hereto and forms part of
this report. The requisite certificate from Practising Company Secretary, M/s JV Wadhwani &
Associates, confirming compliance with the conditions of corporate governance is attached to
the corporate governance report.

GENERAL RESERVES

The General Reserve is used from time to time to transfer profits from retained earnings for
appropriation purposes. As the General reserve is created by a transfer from one component of
equity to another and is not an item of other comprehensive income, items included in the
General reserve will not be reclassified subsequently to the statement of profit and loss.

FINANCE AND ACCOUNTS

As mandated by the Ministry of Corporate Affairs, the financial statements for the year ended
on March 31, 2025 has been prepared in accordance with the Indian Accounting Standards
(IND AS] notified under Section 133 of the Companies Act, 2013 read with the Companies
(Accounts) Rules, 2014. The estimates and judgements relating to the Financial Statements are
made on a prudent basis, so as to reflect in a true and fair manner, the form and substance of
transactions and reasonably present the Company''s state of affairs, profits/(losses) and cash
flows for the year ended March 31, 2025.

Accounting policies have been consistently applied except where a newly issued accounting
standard, if initially adopted or a revision to an existing accounting standard requires a change
in the accounting policy hitherto in use. Management evaluates all recently issued or revised
accounting standards on an ongoing basis. The Company discloses standalone and consolidated
financial results on a quarterly basis which are subjected to limited review and publishes
standalone and consolidated audited financial results on an annual basis.

The Company continues to focus on judicious management of its working capital, receivables,
inventories and other working capital parameters were kept under strict check through
continuous monitoring.

The auditor is issued modified report (Standalone and consolidated) for the financial year
under review.

BUSINESS SEGMENT

Your Company is into the business of Textile.

PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS

Details of Loans, Guarantees and Investments, if any, covered under the provisions of Section
186 of the Companies Act, 2013 are given in the notes to the Financial Statements.

ANNUAL RETURN

In accordance with Section 92(3) and Section 134(3) (a) of the Companies Act, together with
Rule 12 of the Companies (Management and Administration) Rules, 2014, we are pleased to
announce that the Annual Return (MGT-7) of the Company as of March 31, 2024, was not filed
as the company was under CIRP and under the purview of Resolution Professional.

DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The Company has one material subsidiary, Vintage FZE (India) Private Limited, whose net
worth exceeds 20% of the consolidated net worth of the holding company in the immediately
preceding accounting year or has generated 20% of the consolidated income of the Company
during the previous financial year. The company holds 71.34% shares of the said company.
Further, the details are provided in Form AOC-1 attached herewith.

In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the
Policy on material subsidiaries which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2026/01/Policy-for-Determining-Material-Su
bsidiaries.pdf

RELATED PARTY TRANSACTIONS

There is no material modification for RPT during the year under review hence do not attract
the provisions of Section 188 of the Companies Act, 2013. There were no materially significant
transactions with the related parties during the financial year, which were in conflict with the
interest of the Company. The requisite details under Form AOC-2 have been provided as an
Annexure to this Director''s Report. Suitable disclosure as required by the Accounting Standard
(Ind-AS 24) has been made in the notes to the Financial Statements.

The Company has put in place a mechanism for certifying the Related Party Transactions
Statements placed before the Audit Committee and the Board of Directors.

The Policy on Related Party Transactions as approved by the Board of Directors has been
uploaded on the website of the Company. None of the Directors has any pecuniary relationship
or transactions vis-a-vis the Company except remuneration and sitting fees.

In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the
Policy on dealing with Related Party Transactions which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2025/11/Policy-on-Materiality-of-Related-Pa
rty-Transactions-and-on-Dealing-with-Related-Party-Transaction.pdf

MANAGEMENT DISCUSSION & ANALYSIS

The Management Discussion and Analysis on the operations of the Company as prescribed
under Part B of Schedule V read with regulation 34(3] of the Listing Regulations, 2015 is
provided as Annexure I and forms part of the Directors'' Report.

MATERIAL CHANGES AFFECTING THE COMPANY

There is no material change affecting the Company during the financial year.

CHANGE IN NATURE OF BUSINESS, IF ANY

There are no changes in the nature of business in the financial year 2024-25.

BOARD EVALUATION

The Board/RP conducted an informal evaluation of performance during the transitional phase.
A formal evaluation under Regulation 17(10] was deferred to FY 2025-26 due to the late
reconstitution.

MEETING OF THE INDEPENDENT DIRECTORS

As the management of the company was under the control of Resolution Professional, there
was no Independent Directors Meeting held in the FY 2024-25.

NUMBER OF MEETINGS OF THE BOARD

During the Financial Year 2024-25 no Board Meetings were held as the company was under Corporate
Insolvency Resolution Process (CIRP) till 07^th February, 2025 and pursuant to that Implementation and
Monitoring Committee was overseeing the process of the effective implementation of the approved
resolution plan.

BOARD COMMITTEES

All Committees of the Board of Directors are constituted in line with the provisions of the
Companies Act, 2013 and applicable regulations of SEBI (Listing Obligations and Disclosure
Requirements] Regulations, 2015.

MANAGEMENT

There is a change in management of the Company post completion of CIRP Process as per
direction issued by NCLT, Mumbai bench. The detail of new management has been provided
elsewhere in the Annual Report.

DIRECTORS

For most of FY 2024-25, the powers of the Board were suspended under Section 17 of the
Insolvency and Bankruptcy Code, and vested with the Resolution Professional, Mr.
Dharmendra Dhelariya. Following NCLT''s approval of the resolution plan on February 7, 2025,
a Monitoring Committee was formed to oversee implementation. The Committee appointed a
new Board w.e.f. February 18, 2025, marking the end of the suspended Board period.

As on March 31, 2025, the Board comprised 4 directors, with a balanced mix of executive and
independent directors, complying with Regulation 17 of SEBI LODR (at least 50% independent
directors for a non-chairman executive-led board]. None of the directors hold positions
exceeding the limits under Regulation 17A of SEBI LODR Regulations, 2015. All independent
directors provided declarations under Section 149(6] of the Companies Act, 2013, confirming
their independence.

Following are the details of changes in Board during the year till December 31, 2025 -

Name of Director	Category	DIN	Date of Appointment	Date of Resignation
Mr. Karnik Shasankan Pillai	Managing Director & Chairman	08529650	18-02-2025	-
Mr. Jatinbhai Ramanbhai Patel	Executive Director	06973337	18-02-2025	-
Mr. Rajesh Chinubhai Sutaria	Non-executive & Independent Director	02102686	18-02-2025	-
Ms. Komal Manoharlal Motiani	Non-executive & Independent Director	10226691	18-02-2025
Ms. Avani Patel	Non-executive & Independent Director	10673040	18-02-2025	06-03-2025
Ms. Himali Maheshbhai Thakkar	Non-executive & Independent Director	10752931	12-04-2025	-
Mr. Sagar Kumar	Non-executive & Independent Director	11225507	07-08-2025	-
Mr. Satish R. Panchariya	Managing Director	00042934	-	18-02-2025
Mr. Ashok R. Panchariya	Non-Executive - Independent Director	00377391	-	18-02-2025
Mr. Ramakant G. Sharma	Executive Director	03636385	-	18-02-2025
Mr. Alok Jain	Non-Executive - Independent Director	07943366	-	18-02-2025
Mr. Mohammmed Hashim Ansari	Non-Executive - Independent Director	08093616	-	18-02-2025

Ms. Hiramani	B.	Non-Executive -	08168142	-	18-02-2025
Sharma		Independent Director

The details of programme for familiarization of Independent Directors with the Company,
nature of the business segments in which the Company operates and related matters are put
up on the website of the Company at

https://www.alkaindia.in/wp-content/uploads/2025/11/Familiarization-Programme.pdf .

However, as the board was suspended during the year, no programme of familiarization was
held.

In the opinion of the Board, the Independent Directors possess the requisite expertise and
experience and are the persons of high integrity and repute.

They fulfill the conditions specified in the Companies Act, 2013 and the Rules made thereunder
and are independent of the management.

Further, none of the Directors of the Company are disqualified under sub-section (2] of Section
164 of the Companies Act, 2013.

DIRECTOR RETIRING BY ROTATION

Pursuant to the provisions of Section 152(6] of the Companies Act, 2013, Mr. Karnik Shasankan
Pillai, Managing Director of the Company, retires by rotation at the ensuing annual general
meeting and being eligible offers himself for re-appointment. He has given a declaration in
terms of Section 164(2] of the Companies Act, 2013 to the effect that he is not disqualified from
being reappointed as a Director of the Company.

INDEPENDENT DIRECTORS & KMPs

As per provisions of Section 149 of the 2013 Act, independent directors shall hold office for a
term up to five consecutive years on the board of a company, but shall be eligible for
re-appointment for another term up to five years on passing of a special resolution by the
company and disclosure of such appointment in Board''s Report. Further Section 152 of the Act
provides that the independent directors shall not be liable to retire by rotation in the Annual
General Meeting (''AGM'') of the Company.

As per requirements of Regulation 25 of Listing Regulations, a person shall not serve as an
independent director in more than seven listed entities: provided that any person who is
serving as a whole time director in any listed entity shall serve as an independent director in
not more than three listed entities. Further, independent directors of the listed entity shall hold
at least one meeting in a year, without the presence of non-independent directors and
members of the management and all the independent directors shall strive to be present at
such meeting.

In the opinion of the Board, the Independent Directors possess the requisite expertise and
experience and are the persons of high integrity and repute. They fulfil the conditions specified
in the Companies Act, 2013 and the Rules made thereunder and are independent of the
management.

Independent Directors have confirmed that they have complied with the Company''s Code of
Business Conduct & Ethics.

Change in the composition of Board and KMP during the current financial has been provided
herein below:

Name	Category		Date of Appointment	Date of Resignation
Mr. Karnik Shasankan Pillai	Managing Director Chairman	&	18-02-2025	-
Mr. Jatinbhai Ramanbhai Patel	Executive Director		18-02-2025	-
Mr. Rajesh Chinubhai Sutaria	Non-executive Independent Director	&	18-02-2025	-
Ms. Komal Manoharlal Motiani	Non-executive Independent Director	&	18-02-2025
Ms. Avani Patel	Non-executive Independent Director	&	18-02-2025	06-03-2025
Mr. Satish R. Panchariya	Managing Director		-	18-02-2025
Mr. Ashok R. Panchariya	Non-Executive Independent Director	-	-	18-02-2025
Mr. Ramakant G. Sharma	Executive Director		-	18-02-2025
Mr. Alok Jain	Non-Executive Independent Director	-	-	18-02-2025
Mr. Mohammmed Hashim Ansari	Non-Executive Independent Director	-	-	18-02-2025
Ms. Hiramani B. Sharma	Non-Executive Independent Director	-	-	18-02-2025
Mr. Hemant Anant Mahabaleshwarkar	Chief Financial Officer		-	18-02-2025
Ms. Heena Bedi	Company Secretary Compliance Officer	&	-	18-02-2025
Mr. Harshkumar Kalidas Patel	Chief Financial Officer		18-02-2025	-
Mrs. Jinal Dishank Shah	Company Secretary Compliance Officer	&	18-02-2025	-

DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY

All the Independent Directors have submitted their disclosures to the Board that they fulfil all
the requirements as stipulated in Section 149(6] of the Companies Act, 2013 and Regulation
16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements] Regulations, 2015, so
as to qualify themselves to be appointed as Independent Directors under the provisions of the
Companies Act, 2013 and the relevant rules. In terms of Regulation 25(8] of Listing
Regulations, they have confirmed that they are not aware of any circumstance or situation
which exists or may be reasonably anticipated that could impair or impact their liability to
discharge their duties. Based on the declaration received from Independent Directors, the
Board of Directors have confirmed that they meet the criteria of Independence as mentioned

under Section 149 of the Companies Act, 2013 and Regulation 16(1)(b) of Listing Regulations
and they are independent of the management.

PERFORMANCE EVALUATION

The company was under the Corporate Insolvency Resolution Process till 07^th February, 2025.
The new board was constituted on 18^th February 2025 in the Implementation and Monitoring
Committee pursuant to the approved Resolution Plan. After that, no meeting of board or
committee was held. Hence, there was no formal performance evaluation conducted during FY
2024-25.

FAMILIARISATION PROGRAM FOR DIRECTORS

As a practice, all new directors (including independent directors] inducted to the Board are
given a formal orientation.

The familiarization programme for the independent directors is customised to suit their
individual interests and area of expertise. The directors are usually encouraged to interact with
members of senior management as part of the induction programme. The senior management
make presentations giving an overview of the Company''s strategy, operations, products,
markets and group structure, Board constitution and guidelines, and the major risks and risk
management strategy. This enables the directors to get a deep understanding of the Company,
its people, values and culture and facilitates their active participation in overseeing the
performance of the management.

The details of the familiarization program conducted during the Year Under Review can be
accessed from Company website

https://www.alkaindia.in/wp-content/uploads/2025/11/Familiarization-Programme.pdf.

NOMINATION & REMUNERATION POLICY

The Company has devised a Nomination and Remuneration Policy (“NRC Policy”] which inter
alia sets out the guiding principles for identifying and ascertaining the integrity, qualification,
expertise and experience of the person for the appointment as directors, key managerial
personnel (“KMPs”) and senior management personnel (“SMPs”). The NRC Policy has been
framed with the objective

a. to ensure that appointment of directors, KMPs and SMPs and their removals are in
compliances with the applicable provisions of the Companies Act, 2013 and the SEBI Listing
Regulations;

b. to set out criteria for the evaluation of performance and remuneration of directors, KMPs
and SMPs;

c. to adopt best practices to attract and retain talent by the Company; and

d. to ensure diversity of the Board of the Company

The NRC Policy specifies the manner of effective evaluation of performance of Board, its
committees and individual directors to be carried out either by the Board, by the Nomination
and Remuneration Committee or by an independent external agency and review its
implementation and compliance. During the Year Under Review, there has been no change in
the NRC Policy.

The NRC Policy of the Company can be accessed at the website of the Company at
https://www.alkaindia.in/wp-content/uploads/2025/11/Nomination-and-Remuneration-Poli
cy.pdf

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR
COURTS

Following are the details of Orders passed by Regulators, Tribunals or Courts - NCLT, Mumbai
bench vide its order dated 07^th February 2025, has issued directions for change in management
as well as reduction in Capital. The new management has taken charge of the Company has
infused fresh Capital as well implementation of reduction in Capital as per directions issued in
said NCLT order.

CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP):

The resolution plan issued by honorable NCLT, Mumbai bench has been successfully
implemented. Change in management has already been implemented and also the fresh Capital
has been infused. The Company has received listing approval from BSE and has filed an
application for Trading approval from BSE.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN
THE END OF THE FINANCIAL YEAR AND DATE OF REPORT

Since the Company was under CIRP process and has recently been taken over by the new
management and the new management is unable to comment in this matter.

DIRECTORS RESPONSIBILITY STATEMENT

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

1. In the preparation of the annual accounts, for the year ended 31st March 2025, all the
applicable accounting standards prescribed by the Institute of Chartered Accountants of India
have been followed along with proper explanation relating to material departures, if any;

2. 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 March 31, 2025 and of the losses of the Company for
the year ended on that date;

3. that the Directors have 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;

4. that the Directors had prepared the annual accounts on a going concern basis;

5. that 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; and

6. that 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.

BUSINESS RISK MANAGEMENT

The investment in Stock Market have the risk of change in the price and value, both in term of
up and down and thus can affect the profitability of the Company. Risk management is
embedded in your Company''s operating framework. Your Company believes that managing
risks helps in maximizing returns. 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. The risk management framework is reviewed
periodically by the Board and the Audit Committee. Further, the Company is not required to
constitute Risk Management Committee under Listing Regulations, 2015.

INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY

Based on the framework of internal financial controls and compliance systems established and
maintained by the Company, the work performed by the internal, statutory and secretarial
auditors and external consultants, including the audit of internal financial controls over
financial reporting by the statutory auditors and the reviews performed by management and
the relevant board committees, including the audit committee, the Board is of the opinion that
the Company''s internal financial controls were adequate and effective during FY 2024-25.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a Whistle Blower Policy to report genuine concerns or grievances. The
Whistle Blower Policy has been posted on the website of the Company i.e.
https://www.alkaindia.in/wp-content/uploads/2025/11/Whistle-Blower-Policy.pdf

AUDITORS

Statutory Auditors & Auditors'' Report

The Audit Report issued by M/s. Amit Ramakant & Co. (FRW: 009184C] on the financial
statements for the financial year 2024-25 forms part of the Annual Report. The notes to the
financial statements, as referred to in the Auditor''s Report, are self-explanatory and do not
require any further clarification or comment.

Further, the Board of Directors in its meeting held on Thursday i.e. July 24, 2025, approved the
appointment of M/s. J M Patel & Bros, Chartered Accountants (Firm Registration No.
107707W) as the Statutory auditor of the Company for a period of five years from financial
Year 2025-26 to financial year 2029-30, subject to approval of shareholders in ensuing Annual
General Meeting of the company.

The Auditor has carried out statutory Audit of the standalone and consolidated financials and
has issued a modified opinion (disclaimer of opinion).

Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s. J.V. Wadhwani and Associates, Company Secretaries in Practice (C. P. No.
19772) to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit
Report in the prescribed Form MR-3 is annexed in this Annual Report as Annexure II. The same
does not contain any qualification, reservation or adverse remark in the report submitted
Practicing Company Secretaries.

In addition to the above and pursuant to SEBI circular dated 8 ^th February 2019, a report on
secretarial compliance by CS Jaikishan Vasdev Wadhwani for the FY 2024-25 has been
submitted with stock exchanges.

Internal Auditors

Your Company has an effective internal control and risk-mitigation system, which are
constantly assessed and strengthened with new/revised standard operating procedures. The
Company''s internal control system is commensurate with its size, scale and complexities of its
operations. The internal and operational audit is entrusted to M/s. PSG AND ASSOCIATES,
Chartered Accountant (FRN - 133773W). The main thrust of internal audit is to test and review
controls, appraisal of risks and business processes, besides benchmarking controls with best
practices in the industry.

The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness
of the internal control systems and suggests improvements to strengthen the same. The
Company has a robust Management Information System, which is an integral part of the
control mechanism.

The Audit Committee of the Board of Directors, Statutory Auditors and the Key Managerial
Personnel are periodically apprised of the internal audit findings and corrective actions taken.
Audit plays a key role in providing assurance to the Board of Directors. Significant audit
observations and corrective actions taken by the management are presented to the Audit
Committee of the Board. To maintain its objectivity and independence, the Internal Audit
function reports to the Chairman of the Audit Committee.

EXTRACT OF ANNUAL RETURN

Pursuant to the provisions of Section 134(3](a] of the Companies Act, 2013, extract of the
Annual Return for the financial year ended 31st March, 2025 made under the provisions of
Section 92(3] of the Act will be available on Company website link https://www.alkaindia.in/

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT 2013 READ WITH RULES

Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal] Act 2013 read with Rules thereunder, this is to certify
and declare that there was no case of sexual harassment during the year under review. Neither
there was a case pending at the opening of Financial Year, nor has the Company received any
Complaint during the year.

STATUTORY INFORMATION AND OTHER DISCLOSURES

The information regarding Conservation of Energy, Technology Absorption, Adoption and
Innovation, as defined under section 134(3)(m) of the Companies Act, 2013 read with Rule
8(3] of the Companies (Accounts] Rules, 2014, is reported to be NIL.

The Disclosure required under Section 197(12] of the Act read with the Rule 5(1] of the
Companies (Appointment and Remuneration of Managerial Personnel] Rules, 2014, is annexed
as Annexure ''III'' and forms an integral part of this Report. A statement comprising the names
of top employees in terms of remuneration drawn and every person employed throughout the
year, who were in receipt of remuneration in terms of Rule 5(2] of the Companies
(Appointment and Remuneration of Managerial Personnel] Rules, 2014 is annexed as
Annexure ''V'' and forms an integral part of this annual report. The above Annexure is not being
sent along with this annual report to the members of the Company in line with the provisions
of Section 136(1] of the Act. Members who are interested in obtaining these particulars may
write to the Company Secretary at the Registered Office of the Company. The aforesaid
Annexure is also available for inspection by Members at the Registered Office of the Company,
21 days before and up to the date of the ensuing Annual General Meeting during the business
hours on working days.

None of the employees listed in the said Annexure is a relative of any Director of the Company.
None of the employees hold (by himself or along with his spouse and dependent children]
more than two percent of the Equity Shares of the Company.

BUSINESS RESPONSIBILITY REPORT

As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges, the
disclosure of Report under of Regulation 34(2] of the Listing Regulations is not applicable to
the Company for the year under review.

FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company has not earned or used foreign exchange earnings/outgoings during the year
under review.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any deposit from the public
falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies
(Acceptance of Deposits] Rules, 2014.

MAINTENANCE OF COST RECORDS

The maintenance of cost records for the services rendered by the Company is not required
pursuant to Section 148(1] of the Companies Act, 2013 read with Rule 3 of Companies (Cost
Records and Audit] Rules, 2014.

AUDITORS REPORT

The Notes on Financial Statement referred in the Auditors'' Report are self-explanatory and do
not call for any further comments. The Auditor has issued a modified report (disclaimer of
opinion] for the Financial Year 2024-25.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, the Statutory Auditors and the Secretarial Auditors have not
reported any instances of frauds committed in the Company by its officers or employees of
Audit Committee under Section 143(12] of the Companies Act, 2013, details of which needs to
be mentioned in this Report.

REPORT ON CORPORATE GOVERNANCE

As per Regulation 34(3] read with Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements] Regulations, 2015, a separate section on corporate governance practices
followed by the Company, together with a certificate from the Company''s Auditors confirming
compliance forms an integral part of this Report as Annexure IV.

GENDER-WISE COMPOSITION OF EMPLOYEES

In alignment with the principles of diversity, equity, and inclusion (DEI], the Company
discloses below the gender composition of its workforce as on the March 31, 2025.

Male Employees: 3
Female Employees: 1
Transgender Employees: 0

This disclosure reinforces the Company''s efforts to promote an inclusive workplace culture
and equal opportunity for all individuals, regardless of gender.

DOWNSTREAM INVESTMENT

The Company neither have any Foreign Direct Investment (FDI) nor invested as any
Downstream Investment in any other Company in India.

AUDIT TRAIL APPLICABILITY (AUDIT AND AUDITORS) RULES 2014 - RULE 11 OF THE
COMPANIES ACT 2013.

Accounting Software for maintaining its books of account for the financial year ended March
31, 2025 was used which has a feature of recording audit trail (edit log) facility for all relevant
transactions recorded in the software.

The Company, Alka India Limited, was undergoing Corporate Insolvency Resolution Process
(CIRP) and has been revived pursuant to an approved Resolution Plan. During the previous
financial year, the management and control of the Company were under the supervision of the
Resolution Professional.

Therefore, for the financial year ended March 31, 2025 the Board is unable to comment on
effectiveness of the audit trail.

The new management which was appointed on 18.02.2025 as per the resolution plan dated
February 07, 2025, endeavours to comply with the said rule hereafter.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Board of Directors affirms that the Company has complied with the applicable mandatory
Secretarial Standards issued by the Institute of Company Secretaries of India.

OTHER DISCLOSURE

During the financial Year Under Review, disclosure with respect to 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 reason thereof is
not applicable.

GENERAL

During the year, there were no transaction, other than those disclosed in the Report, requiring
disclosure or reporting in respect of matters relating to:

(a) details relating to deposits covered under Chapter V of the Act;

(b) issue of equity shares with differential rights as to dividend, voting or otherwise;

(c) issue of shares (including sweat equity shares) to employees of the Company under any
scheme;

(d) raising of funds through preferential allotment or qualified institutions placement;

(e) significant or material order passed by the Regulators or Courts or Tribunals which impact
the going concern status and Company''s operations in future;

(f) pendency of any proceeding under the Insolvency and Bankruptcy Code, 2016; and

(g) instance of one-time settlement with any bank or financial institution.

CAUTIONARY STATEMENT

Statements in this Directors'' Report and Management Discussion and Analysis describing the
Company''s objectives, projections, estimates, expectations or predictions may be
“forward-looking statements” within the meaning of applicable securities laws and regulations.
Actual results could differ materially from those expressed or implied.

APPRECIATION

Your Directors wish to place on record their appreciation towards the contribution of all the
employees of the Company and their gratitude to the Company''s valued customers, bankers,
vendors and members for their continued support and confidence in the Company.

By Order of the Board of Directors
For Alka India Limited

Date: December 31, 2025
Place: Ahmedabad

Karnik Shasankan Pillai
Managing Director

Registered Office: DIN: 08529650

Gala No. D- 3/4/5, Hatkesh Udyog Nagar-1,

Off. Mira Bhayandar Road, Gcc Road,

Mira Near Hatkesh Substation

Thane - 401 107, Mira Road, Maharashtra, India

Corporate Office:

A 1115 Titanium Business Park,

Near Makarba Underpass, Jivraj Park,

Ahmedabad, Ahmadabad City, Gujarat, India, 380051
CIN: L99999MH1993PLC168521
E-mail Id: [email protected]

---

Sep 30, 2014

Dear Members,

The Directors have pleasure in presenting the 21st Annual Report together with the Audited Statement of Accounts for the year ended 30th September, 2014.

FINANCIAL RESULTS:

The working results of the Company for the year ended on 30th September, 2014 are as follows:

Year Ended On Year Ended On 30.09.2014 30.09.2013 Rs. Rs.

Net — Profit/Loss (14,062,055) (5,478,885)

Less : Depreciation 1,807,849 1,640,753

Profit/(Loss) before Taxation (15,869,904) (7,119,638) (PBT)

Less : Provision for Income Tax NIL NIL

Less : Deferred Tax Adjustments NIL NIL

Less: Provision for Fringe Benefit Tax NIL NIL

Profit/ (Loss) After Tax (PAT) (15,869,904) (7,119,638)

Add : Profit/(Loss) brought forward (232,210,222) (225,090,584)

Add: Transfer from General Reserve NIL NIL

Add: Prior Year Adjustments. NIL NIL

Surplus/(Deficit) (248,080126) (232,210,222)

APPROPRIATIONS:

Year Ended On Year Ended On 30.09.2014 30.09.2013 Rs. Rs.

Profit/(Loss) carried to Balance Sheet (248,080126) (232,210,222)

Total (248,080126) (232,210,222)

DIVIDEND:

Your directors do not recommend dividend for the year 2013-2014.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE EARNING AND OUTGO:

A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (1)(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors ) Rules,1988 in respect of Conservation of Energy, Technology Absorption are not applicable.

B FOREIGN EXCHANGE EARNING & OUTGO:

Current Year Previous Year

a) Earning Nil Nil

b) Outgo Nil Nil

DIRECTORATE:

During the year under review Mr. Anant Sharma retire by rotation as Director of the company at the ensuing Annual General Meeting and being eligible, offers himself for re -appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2014 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS:

The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur are Re appointed as the statutory auditors of the Company at the forthcoming Annual General Meeting.

The Company has received letters from them to the effect that their re-appointment, if made, would be within the prescribed limits under sections 224(1B) of the Companies Act, 1956.

AUDITOR''S REMARKS:

The provision for leave encashment has not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Mumbai. Listing fees has been paid to Bombay Stock Exchange Limited.

APPRECIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registered Office : By Order of the Board of Director E-211, Crystal Plaza, For ALKA INDIA LIMITED Opp. Fame Adlabs, New Link Road, Andheri (W), Sd/- Ramakant Gokulchand Chairman & Managing Director Mumbai - 400 053.

Place : Mumbai Date : 20th January, 2015

---

Sep 30, 2013

The Directors have pleasure in presenting the Twentieth Annual Report together with the Au- dited Statement of Accounts for the year ended 30th September, 2013.

FINANCIAL RESULTS:

The working results of the Company for the year ended on 30th September, 2013 are as follows:

Rs. In Lakhs Particulars Year Ended On Year Ended On 30.09.2013 30.09.2012 Rs. Rs.

Net —Profit/Loss (5,478,885) (26,756,862)

Less : Depreciation 1,640,753 1,883,661

Profit/(Loss) before Taxation (PBT) (7,119,638) (28,640,523)

Less : Provision for Income Tax NIL NIL

Less : Deferred Tax Adjustments NIL 250,281

Less: Provision for Fringe Benefit Tax NIL NIL

Profit/ (Loss) After Tax (PAT) (7,119,638) (28,890,804)

Add : Profit/(Loss) brought forward (2,25,090,584) (1,96,199,780)

Add: Transfer from General Reserve NIL NIL

Add: Prior Year Adjustments. NIL NIL

Surplus/(Deficit) (232,210,222) (225,090,584)

APPROPRIATIONS:

Year Ended On Year Ended On 30.09.2013 30.09.2012 Rs. Rs.

Profit/(Loss) carried to Balance Sheet (232,210,222) (225,090,584)

Total (232,210,222) (225,090,584)

DIVIDEND:

Your directors do not recommend dividend for the year 2012-2013.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EX- CHANGE EARNING AND OUTGO:

A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (1)(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors ) Rules,1988 in re- spect of Conservation of Energy, Technology Absorption are not applicable.

B. FOREIGN EXCHANGE EARNING & OUTGO:

Current Year Previous Year

a) Earning Nil Nil

b) Outgo Nil Nil

DIRECTORATE:

During the year under review Mr. Satish Panchariya retire by rotation as Director of the Company at the ensuing Annual General Meeting and being eligible, offers himself for re -appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Com- pany for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2013 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Sec- tion 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS:

The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur are Re appointed as the statutory auditors of the Company at the forthcoming Annual General Meeting.

The Company has received letters from them to the effect that their re-appointment, if made, would be within the prescribed limits under sections 224(1B) of the Companies Act, 1956.

AUDITOR''S REMARKS:

The provision for leave encashment have not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Mumbai. Listing fees has been paid to Bombay Stock Exchange Limited.

APPRECIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registered Office :

E-211, Crystal Plaza, By Order Of the Board of Directors

Opp. Fame Adlabs For ALKA INDIA LIMITED

New Link Road, Andheri (W)

Mumbai – 400053. Sd/-

Ramakant Gokulchand

Place :Mumbai Chairman & Managing Director

Date :14th February, 2014

---

Sep 30, 2012

To The Members,

The Directors have pleasure in presenting the Nineteen Annual Report together with the Audited Statement of Accounts for the year ended 30th September, 2012.

FINANCIAL RESULTS:

The working results of the Company for the year ended on 30th September, 2012 are as follows:

Rs. In Lakhs

Particulars Year Ended On Year Ended On 30.09.2012 30.09.2011 Rs. Rs.

Net-Profit/Loss (26,756,862) (30,955,584)

Less : Depreciation 1,883,661 1,234,226

Profit/(Loss) before Taxation (PBT) (28,640,523) (32,189,810)

Less : Provision for Income Tax NIL NIL

Less : Deferred Tax Adjustments 250,281 NIL

Less: Provision for Fringe Benefit Tax NIL NIL

Profit/ (Loss) After Tax (PAT) (28,890,804) (32,189,810)

Add : Profit/(Loss) brought forward (22,50,90,584) (19,61,99,780)

Add: Transfer from General Reserve NIL NIL

Add: Prior Year Adjustments. NIL (138,860)

Surplus/(Deficit) (22,50,90,584) (19,61,99,780)

APPROPRIATIONS:

Year Ended On Year Ended On 30.09.2012 30.09.2011 Rs. Rs.

Profit/(Loss) carried to Balance Sheet (22,50,90,584) (19,61,99,780)

Total (22,50,90,584) (19,61,99,780)

DIVIDEND:

Your directors do not recommend dividend for the year 2011-2012.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE EARNING AND OUTGO:

A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (1)(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors ) Rules,1988 in respect of Conservation of Energy, Technology Absorption are not applicable.

B. FOREIGN EXCHANGE EARNING & OUTGO:

Current Year Previous Year

a) Earning Nil Nil

b) Outgo Nil Nil

DIRECTORATE:

During the year under review Mr Neel Doctor retire by rotation as Director of the Company at the ensuing Annual General Meeting and being eligible, offers himself for re -appointment.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2012 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS:

The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur are Re appointed as the statutory auditors of the Company at the forthcoming Annual General Meeting.

The Company has received letters from them to the effect that their re-appointment, if made, would be within the prescribed limits under sections 224(1B) of the Companies Act, 1956.

AUDITOR’S REMARKS:

The provision for leave encashment have not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Mumbai. Listing fees has been paid to Bombay Stock Exchange Limited.

APPRECEIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registration Office : By Order of the Board of Director

E-211, Crystal Plaza, For ALKA INDIA LIMITED

Opp. Fame Adlabs,

New Link Road, Sd/-

Andheri (W), Ramakant Gokulchand

Mumbai - 400 053. Chairman & Managing Director

Place : Mumbai

Date : 06th February, 2013

---

Sep 30, 2011

The Directors have pleasure in presenting the Eighteenth Annual Report together with the Audited Statement of Accounts for the year ended 301" September, 2011.

FINANCIAL RESULTS :

The working results of the Company for the year ended on 30th September, 2011 are as follows:

Particulars Year Ended On Year Ended On

30.09.2011 30.09.2010

Rs. Rs.

Net - Profit/Loss (30,955,584) (60,819,267)

Less : Depreciation 1,234,226 1,169,803

Profit/(Loss) before Taxation (PBT) (32,189,810) (61,989,070)

Less : Provision for Income Tax - -

Less : Deferred Tax Adjustments - (19,862,740)

Less: Provision for Fringe Benefit Tax

Profit/ (Loss) After Tax (PAT) (32,189,810) (42,126,330)

Add : Profit/(Loss) brought forward (206,176,297) (164,049,967)

Add: Transfer from General Reserve NIL NIL

Add: Prior Year Adjustments. (138,860) -

Surplus/(Deficit) (19, 61,99,780) (20,61,76,297)

APPROPRIATIONS

Year Ended On Year Ended On 30.09.2011 30.09.2010 Rs. Rs.

Profit/(Loss) carried to Balance Sheet (19,61,99,780) (20,61,76,297)

Total (19,61,99,780) (20,61,76,297)

DIVIDEND:

Your directors do not recommend dividend for the year 2010-2011.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO:

A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (1 )(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 in respect of Conservation of Energy, Technology Absorption are not applicable.

DIRECTORATE:

During the year under review Mr. Madanlal Purohit who retire by rotation as Director of the Company at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

Mr. Ramakant Sharma was appointed as directors of the company w.e.from 5th October, , 2011. He is Commerce Graduate and from ARMY.

Mr. Satish Panchariya resigned from the post of Managing Director however he is continue as a Director on board of your company.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profits of the Company for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this Act, for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2011 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of Corporate Governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS :

The Auditors M/s.Agrawal Jain and Gupta, Chartered Accountants, are Reappointed as the statutory auditors of the Company at the forthcoming Annual General Meeting.

The Company has received letters from them to the effect that their reappointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956.

AUDITOR'S REMARKS:

The provision for leave encashment have not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Mumbai. Listing fees has been paid to Bombay Stock Exchange Limited.

APPRECEIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registered Office : By Order Of the Board of Directors

E-211, Crystal Plaza, For ALKA INDIA LIMITED

Opp. Fame Adlabs, New Link Road, Andheri (W),

Mumbai - 400053. sd/-

Ramakant Sharma Place : Mumbai Chairman & Managing Director Date : 13th February, 2012

---

Sep 30, 2010

The Directors have pleasure in presenting the Seventeenth Annual Report together with the Audited Statement of Accounts for the year ended 30th September, 2010.

FINANCIAL RESULTS :

The working results of the Company for the year ended on 30th September, 2010 are as follows:

Rs. In Lakhs

Particulars Year Ended On Year Ended On

30.09.2010 30.09.2009

Rs. Rs.

Net - Profit/Loss (608.19) (17.18)

Less : Depreciation 11.70 49.02

Profit/(Loss) before Taxation (PBT) (619.89) (66.20)

Less : Provision for Income Tax - 58.89

Less : Deferred Tax Adjustments (198.63) (61.17)

Less: Provision for Fringe Benefit Tax - -

Profit/ (Loss) After Tax (PAT) (421.26) (63.93)

Add : Profit/(Loss) brought forward (1640.50) (1081.41)

Add: Transfer from General Reserve Nil Nil

Add: Prior Year Adjustments. - (495.16)

Surplus/(Deficit) (2061.76) (1640.50)

APPROPRIATIONS :

Year Ended On Year Ended On

30.09.2010 30.09.2009

Rs. Rs.

Profit/(Loss) carried to Balance Sheet (2061.76) (1640.50)

Total (2061.76) (1640.50)

DIVIDEND:

Your directors do not recommend dividend for the year 2009-2010.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO:

A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (1)(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors ) Rules,1988 in respect of Conservation of Energy, Technology Absorption are not applicable.

B. FOREIGN EXCHANGE EARNING & OUTGO:

Current Year Previous Year

a) Earning Nil Nil

b) Outgo Nil Nil

DIRECTORATE:

During the year under review Mr Anant Sharma retire by rotation as Director of the Company at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

Mr Neel Doctor was appointed as directors of the company w.e.from 31.08.2010 He is MBA in Marketing & International Business graduate. He has a good exposure in pricing strategies , balancing firm objectives and various aspects of marketing strategy.

Mr Mukesh Chauradiya resigned from the board of your company w.e.from 01.06.2010.The Board places on record its sincere appreciation for the valuable guidance.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 217 (2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with provisions of this Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2010 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS :

The Auditors M/s. Agrawal Jain And Gupta, Chartered Accountants, Jaipur are Reappointed and being eligible offer themselves for re-appointment. You are requested to re-appoint the auditors and fix their remuneration.

AUDITORS REMARKS:

The provision for leave encashment have not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued. Every debtors and creditors of the Company was requested to confirm the debit and credit balances as the case may be in their accounts. The confirmations from various creditors/debtors have not been received till the finalization of the accounts. The Company does not have any control over the debtors/creditors and has taken the balance as appears in its ledger accounts.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Mumbai. Listing fees has been paid to Bombay Stock Exchange Limited.

The Shares of the company were voluntary delisted from the Ahmedabad Stock exchange w.e.from 30.11.2010.

APPRECEIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registered Office : By Order Of the Board of Directors

E-211, Crystal Plaza, Opp. Fame Adlabs For ALKA INDIA LIMITED New Link Road, Andheri (W), Mumbai - 400053. sd/-

Satish Panchariya

Place : Mumbai Chairman & Managing Director Date : 4th March, 2011

---

Sep 30, 2009

The Directors have pleasure in presenting the Sixteenth Annual Report together with the Audited Staterhent of Accounts for the year ended 30th September, 2009.

FINANCIAL RESULTS:

The working results of the Company for the year ended on 30th September, 2009 are as follows:

Rs. In Lakhs

Particulars Year Ended On Year Ended On 30.09.2009 30.09.2008 Rs. Rs.

Gross Profit/Loss (17.18) (190.84)

Less : Depreciation 49.02 100.72

Profit/CLoss) before Taxation (PBT) (66.20) (291.56)

Less : Provision for Income Tax 58.89 0.25

Less : Deferred Tax Adjustments (61.17) (27.93)

Less: Provision for Fringe Benefit Tax - 1.02

Profit/ (Loss) After Tax (PAT) (63.93) (320.76)

Add : Profit/(Loss) brought forward (1081.41) (760.65)

Add: Transfer from General Reserve Nil Nil

Add: Prior Year Adjustments. (495.16) Nil

Surplus/(Deficit) (1640.50) (1081.41)

APPROPRIATIONS ;

Year Ended On Year Ended On 30.09.2009 30.09.2008 Rs. Rs.

Profit/(Loss) carried to Balance Sheet (1640.50) (1081.41)

Total (1640.50) (1081.41)

DIVIDEND:

Your directors do not recommend dividend for the year 2008-2009.

OPERATIONS:

Your Directors are confident in recording a sustainable growth in the operation during the current year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO:

A.CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:

The details as required under section 217 (l)(e) of the Companies Act,1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors > Rules.1988 in respect of Conservation of Energy, Technology Absorption are not applicable.

B.FOREIGN EXCHANGE EARNING & OUTGO:

Current Year Previous Year

a) Earning Nil Nil

b) Outgo Nil Nil

DIRECTORATE

During the year under review Mr. Madah Purohit retire by rotation as Director of the Company at the ensuing Annual General fleeting and being eligible, offers himself for reappointment.

During the year under review Mr. Anant Sharma was appointed as directors of the company.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section. 217 C2AA) of the Companies Act, 1956, your Directors confirm the following:

1. In the preparation of the annual accounts, the Accounting Standards to the extent applicable had been followed along with proper explanations relating to material departures.

2. Adequate accounting policies had been selected and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance -with provisions of this Act. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts have been prepared for the financial year ended 30th September, 2009 on a going concern basis.

PARTICULARS OF EMPLOYEES:

During the year, there were no employees whose information is required to be given as per Section 217(2A) read with the Companies (Particular of Employees) Rules, 1975 as amended.

REPORT ON CORPORATE GOVERNANCE:

A detailed report on Corporate Governance is annexed to this Annual Report. The Company has complied with the conditions of corporate governance as stipulated in clause 49 of the listing agreement. The certificate obtained from the auditors of the Company regarding compliance of conditions is annexed to this report.

FIXED DEPOSITS:

During the year under review the Company has neither invited nor accepted Public Deposits.

AUDITORS :

The Auditors M/s. Agrawal Jain And Gupta, Chartered Accountants, Jaipur are Reappointed and being eligible offer themselves for re-appointment. You are requested to re-appoint the auditors and fix their remuneration.

AUDITORS REMARKS:

The provision for leave encashment have not been made in as much as the liability to pay such leave encashment would be taken care of when it is accrued. Every debtors and creditors of the Company was requested to confirm the debit and credit balances as the case may be in their accounts. The confirmationsfrom various creditors/debtors have not been received till the finalization of the accounts. The Company does not have any control over the debtors/creditors and has taken the balance as appears in its ledger accounts.

LISTING:

The Shares of the Company are listed on Stock Exchanges at Ahmedabad and Mumbai. Listing fees has been paid to Mumbai Stock Exchange.

APPRECEIATION:

The Board places on record the appreciation of the sincere and devoted services rendered by all the employees and the continued support and confidence of the Shareholders. The Board also expresses their sincere thanks to the Banks and all other well wishers for their timely support.

Registered Office : By Order Of the Board of Directors

E-211, Crystal Plaza, Opp. Fame Adlabs For ALKA INDIA LIMITED

New Link Road, Andheri (W) Mumbai — 400053. Satish Panchariya

Chairman & Managing Director

Place : Mumbai Date: 4th March, 2010