Directors Report of Checkpoint Trends Ltd.

Mar 31, 2025

Your Director''s have pleasure in presenting Annual Report together with the Audited
Accounts of the Company for the year ended 31^st March, 2025.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2024-25 is summarized below:

(Rs. In Lakhs)

Particulars	2024-25	2023-2024
Income from Operations	50.00	113.00
Other Income	0.12	0.09
Total Income	50.12	113.09
Less: Expenses	45.38	110.84
Profit/(Loss) Before Extraordinary Items and	4.74	2.25
Tax
Less: Extraordinary Items	-	-
Less: Exceptional Items	-	-
Profit/(Loss) Before Tax	4.74	2.25
Less: Current Tax	(1.47)
Less: Deferred Tax	0.73	(0.77)
Profit/(Loss) After Tax	2.54	3.02
EPS (in Rs.)	0.05	0.06

2. FINANCIAL SUMMARY

The Company earned income from operation of Rs. 50,00,000 during the FY 2024-25, as
compared to the income from operation of Rs. 1,13,00,000 earned in the previous FY
2023-24. The Company''s Net Profit for the Financial Year ended March 31, 2025 stood
at Rs. 2,54,000 as against a Net Profit of Rs. 3,02,000 in the previous year.

3. CHANGE IN NAME OF THE COMPANY

During the financial year under review, there is no change in the name of the Company.

4. CHANGE IN NATURE OF BUSINESS

During the financial year under review, there is no change in the nature of business of
the Company.

5. CHANGE IN THE OBJECT OF THE COMPANY

During the year under, there was no change in the object of the company.

However, after the closure of the Financial Year, the Company and the Board in view to
diversify and explore new business opportunities, proposed to amend the Object Clause
to broaden its scope of activities and expand into new areas of business which align
with and are complementary to its existing operations.

The amendment empowers the Company to respond more effectively to emerging
market opportunities, improve competitiveness, and create sustainable value for its
stakeholders.

Thus, the Main Object Clause of the Memorandum of Association was amended by way
of (01/2025-26) postal ballot dated May 19, 2025 in accordance with applicable
provisions of the Companies Act, 2013.

The company through its (02/2025-26) postal ballot dated August 25, 2025 has again
proposed addition of new main object clause. The board is of the opinion that this
strategic diversification will allow the Company to optimize its resources and
capabilities, thereby enhancing operational efficiency and cost-effectiveness. The same
is yet to be approved by the members on September 20, 2025.

6. SHIFTING OF THE REGISTERED OFFICE OF THE COMPANY

There was no change in the Registered Office and the Corporate Office during the year
under review.

The address of the Corporate Office i.e. 604, 6th floor, Meghdoot, Gulmohar Cross Road
No.6, JVPD Scheme, Mumbai, Maharashtra, India, 400049 remains same.

However, after the closure of Financial Year, the company through its (01/2025-26)
postal ballot dated May 19, 2025 and in compliance with the provisions of Section 12
and other applicable provisions of the Companies Act, 2013, passed special resolution
for shifting of the registered office of the company within the same state from 604, 6^th
floor, Meghdoot, Gulmohar Cross Road No. 6, JVPD Scheme, Mumbai - 400049 to
Office No. 306, Shreenath Enclave Sr No.609/1Part, Plot No. 6 7 8, Shreehari Kute
Marg Nr Samdeep Hotel, Mumbai Naka, Tidke Colony, Nashik 422002.

The following shift has been made to improve operational efficiency, administrative
convenience, and access to better infrastructure and connectivity.

7. TRANSFER TO RESERVES

No amount has been transferred to Reserves during the year under review.

8. CHANGES IN SHARE CAPITAL

In the 1^st Extra-Ordinary General Meeting for the Financial Year 2024-25, held on
February 12, 2025, the Company proposed a reduction in its paid-up share capital. An
application for the proposed capital reduction was accordingly submitted to BSE.
However, the special resolution failed to obtain the required 75% majority and was
therefore not passed. Consequently, the proposed capital reduction stands withdrawn.

Thus, during the year under review, there was no change in the Share Capital of the
Company.

Subsequent to the year end, the following changes are made:-

1. The company through its (01/2025-26) postal ballot May 19, 2025 for F.Y. 2025-26
increased its authorized share capital to Rs. 75,00,00,000/- (Rupees Seventy-Five
Crores) divided into 7,50,00,000 (Seven Crores and Fifty Lakhs) equity shares of Rs.
10/- (Rupees Ten) each.

Pursuant to the above, Clause V of the Memorandum of Association and Clause 3 of
the Articles of Association of the Company were amended through the (01/2025-
26) postal ballot dated May 19, 2025, in accordance with the applicable provisions
of the Companies Act, 2013.

2. The company through its (02/2025-26) postal ballot notice dated August 20, 2025
for F.Y. 2025-26 has proposed increase in its authorized share capital to Rs.

3.00. 00.00.000/- (Rupees Three Hundred Crores) divided into 30,00,00,000 (Thirty
Crores) equity shares of Rs. 10/- (Rupees Ten) each. The same is yet to be approved
by the members on September 20, 2025.

However, currently the Authorized Share Capital of the Company stands at Rs.

75.00. 00.000/- and the Paid-Up Share Capital of the Company stands at Rs.
5,46,83,000/-.

9. DIVIDEND

The Board of Directors expressed their inability to recommend any dividend on equity
shares for the year ended March 31, 2025.

10. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposits from public nor during the
previous financial year.

11. BUY-BACK / SWEAT EQUITY / BONUS SHARES

The Company has neither bought back its shares nor has issued any sweat equity or
Bonus shares during the year under review.

12. EMPLOYEES STOCK OPTION PLAN

The Company has not provided any Stock Option Scheme to the Employees.

13. ISSUE OF DEBENTURES, BONDS OR ANY NON-CONVERTIBLE SECURITIES

The Company has not issued any debenture, bonds or non-convertible securities.

14. STATUTORY AUDITORS

Pursuant to section 139 of the Companies Act, 2013 the Board in its meeting held on
August 30, 2023 has recommended the appointment of M/s. L K Ajmera & Associates
Chartered Accountants as new Statutory Auditor of the company to hold office for a
period of five (5) financial years (for FY 2023-2024 till FY 2027-2028), i.e. from
conclusion of Annual General Meeting held in the financial year 2024 till conclusion of
Annual General Meeting to be held in the year 2028, at a remuneration to be
determined by the Board of Directors and Auditors.

15. INTERNAL AUDITOR

In the Board Meeting held on August 30, 2023, the Board appointed Mr. Arun Mulya as
the Internal Auditor for a period of three years from FY 2023-2024 to FY 2025-2026.

Mr. Arun Mulya is the Internal Auditor of the Company for the FY 2024-25.

16. STATUTORY AUDIT REPORT

The Auditor''s Report on the financial statement for the current year is self-explanatory,
therefore does not require any further explanation. The Company has already
submitted declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligation and
Disclosure Requirements) Regulations, 2015 to the Stock Exchange(s).

17. COST AUDITOR REPORT AND COST RECORD

Appointment of Cost Auditor and maintenance of cost records is not applicable to the
company.

18. SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT

The Board of Directors in their Board Meeting held on May 25, 2024 re- appointed MNB
& Co. LLP Secretarial Auditor for a period of 5 years from F.Y. 2024-25 upto F.Y. 2026¬
27.

Therefore, M/s. MNB & Co. LLP, Practising Company Secretaries are the secretarial
auditor for the financial year 2024-25.

M/s. MNB & Co. LLP, Practising Company Secretaries ceased to be the Secretarial
Auditors of the Company w.e.f. August 28, 2025 due to pre-occupation.

Further, appointment of M/s. DSM and Associates, Company Secretaries (UCN:
P2015MH038100) as Secretarial Auditors of the Company The SEBI has amended the
Listing Regulations with effect from December 12, 2024 by way of Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third
Amendment) Regulations 2024 (SEBI Notification) on the Secretarial Audit and provides
that every Listed Entity and its Material Unlisted Subsidiary incorporated in India shall
undertake Secretarial Audit by a Secretarial Auditor who shall be a Peer-reviewed
Company Secretary and shall be recommended by the Board for the approval of the
Shareholders. The appointment of an individual as Secretarial Auditor shall not be more
than one term of five consecutive years or a Secretarial Audit firm as Secretarial Auditor
for not more than two terms of five consecutive years each with the approval of the
Shareholders in the Annual General Meeting.

In line with the above SEBI amendment, the Board, subject to the approval of the
members, proposes to appoint M/s. DSM and Associates, Company Secretaries as
Secretarial Auditors of the Company for a period of five consecutive financial years i.e.,
from FY 2025-26 to FY 2029-30 on such terms of remuneration, including
reimbursement of out-of-pocket expenses, as may be mutually agreed between the
Board of Directors of the Company and the Secretarial Auditor.

In connection with the proposed appointment, M/s. DSM and Associates, Company
Secretaries have confirmed their eligibility and independence to conduct the Secretarial
Audit of Checkpoint Trends Limited.

Necessary resolution seeking the approval of the Members for the said appointment
forms part of the Notice of the 34^th Annual General Meeting.

The Secretarial Audit Report for the Financial Year 2024-25 forms part of the Annual
Report and attached herewith as Annexure- VI.

The Secretarial Audit report for the current year is self-explanatory, therefore does not
require any further explanation and listing fees has not paid due to financial crises faced
by the company.

19. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12)
OF SECTION 143 OF THE COMPANIES ACT, 2013

There are no frauds reported by the Statutory Auditors of the Company under Section
143 (12) of the Companies Act, 2013.

20. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the Companies Act, none of the Directors are liable to retire by
rotation at the ensuing Annual General Meeting.

During the year under review, in the board meeting held on September 16, 2024, Ms.
Artee Sahu was appointed as the Company Secretary of the company with effect from
September 16, 2024.

During the year under review, the following changes were made in the composition of
board of Directors:-

1. Mr. Sunil Khandelwal (DIN:07803085) ceased to be the Managing Director of the
Company due to expiry of his tenure and not being reappointed with effect from
May 27, 2024.

2. Mr. Gopal Kumar Sahu (DIN: 08478039) has been re-appointed as a Non- Executive
Independent Director of the Company for a further period of 5 years from June 11,
2024 to June 10, 2029 in the Annual General Meeting held on 30^th September, 2024.

3. Mr. Pradeep Kumar (DIN: 00209355) was appointed as Whole Time Director of the
Company for a period of 3 years from March 06, 2025 to March 05, 2028 in the
board meeting held on March 06, 2025 and confirmed by the members through
(01/2025-26) postal ballot dated May 19, 2025.

4. Mr. Shubham Chaudhary (DIN: 09298013) was appointed as Whole Time Director of
the Company for a period of 3 years from March 06, 2025 to March 05, 2028 in the
board meeting held on March 06, 2025 and confirmed by the members through
(01/2025-26) postal ballot dated May 19, 2025.

5. Mr. Saurabh (DIN: 10790325) was appointed as a Non-Executive Independent
Director of the Company for a period of 5 years from March 06, 2025 to March 05,
2030 in the board meeting held on March 06, 2025 and confirmed by the members
through (01/2025-26) postal ballot dated May 19, 2025.

6. Mr. Harish Dinesh Surve (DIN: 09138943) has resigned from the post of Non¬
Executive Independent Director of the Company w.e.f. March 25, 2025.

7. Ms. Sneha Prakash Thakur (DIN: 07805202) has resigned from the post of Non¬
Executive Independent Director of the Company w.e.f. March 25, 2025.

Subsequent to the year under review, the following changes were made to the
composition of the Board of Directors through a (01/2025-26) postal ballot dated
May 19, 2025:¬
1. Bhawna Saunkhiya (DIN: 10683032) was appointed as a Non-Executive Independent
Director of the Company for a period of 5 years from April 04, 2025 to April 03, 2030
in the board meeting held on April 04, 2025 and was confirmed by members
through (01/2025-26) postal ballot dated May 19, 2025.

2. Shruti Gupta (DIN: 10310259) was appointed as a Non-Executive Independent
Director of the Company for a period of 5 years from April 04, 2025 to April 03, 2030
in the board meeting held on April 04, 2025 and was confirmed by members
through (01/2025-26) postal ballot dated May 19, 2025.

Mr. Pradeep Kumar (DIN: 00209355), Whole Time Director is associated with a
company undergoing Corporate Insolvency Resolution Process (CIRP) namely:-

Alpha Pecific Engineers Private Limited

21. ANNUAL RETURN

The Annual Return for the financial year ended March 31, 2025 along with Notice of
AGM is being uploaded on the website of the Company. The web link for the same is as
under: https://www.rubramed.com/extract-annual-return.html

22. DETAILS OF SUBSIDIARIES/ASSOCIATES/JOINT VENTURES, IF ANY:

As on March 31, 2025, the Company does not have any subsidiary, associate or joint
venture.

23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO

The information pertaining to Conservation of Energy, Technology Absorption and
Foreign Exchange earnings and outgo as required under section 134(3)(m) of the
Companies Act, 2013 read with rule 8(3) of the Companies (Accounts) Rules, 2014 is
annexed to this report as Annexure II.

24. VIGIL MEGHANISM

The Company has established a Vigil Mechanism that enables the Directors and
Employees to report genuine concerns. The Vigil Mechanism provides for

(a) adequate safeguards against victimization of persons who use the Vigil Mechanism;
and

(b) direct access to the Chairperson of the Audit Committee of the Board of Directors of
the Company in appropriate or exceptional cases.

The web link for the policy is as under:

https://www.rubramed.com/policies/Vigil-Mechanism-Policy.pdf

25. CORPORATE SOCIAL RESPONSIBILITY

The provisions of Corporate Social Responsibility are not applicable to the Company as
it does not fall within the purview of Section 135(1) of the Companies Act, 2013.

26. RELATED PARTY TRANSACTIONS

There were no contracts or arrangements entered into by the Company with related
parties referred to in sub-section (1) of section 188 of the Companies Act, 2013. The
related party transactions as per IND AS 24 are given in the notes to the financial
accounts and forms part of the Annual Report.

The policy on Related Party Transactions is part of the website of the Company. The
web link for the policy on related party transaction is as under:
https://www.rubramed.com/policies/Related-Party-Transaction.pdf

27. RISK MANAGEMENT

The Company has devised and implemented a mechanism for risk management.

28. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company proactively keeps its Directors informed of the activities of the Company,
its management and operations and provides an overall industry perspective as well as
issues being faced by the industry. Details of the Familiarization program for
Independent Directors form part of the website of the Company. The web link of
Familiarization program is as under:

https://www.rubramed.com/policies/Familarisation-of-Independent-Director.pdf

29. MEETING OF BOARD OF DIRECTORS

The details of Board Meeting forms part of Corporate Governance Report.

30. CORPORATE GOVERNANCE

Pursuant to Regulation 15(2) of the Securities Exchange Board of India (Listing
Obligations and Disclosure Requirements) 2015, compliance of Corporate Governance
is not mandatory.

However, the company has voluntary complied with the provisions of Regulation 17 to
27 of the Securities Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, to the extent possible. A separate section on
Corporate Governance forms part of the Director''s Report as stipulated in Securities
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, is included in the Annual Report as Annexure IV.

31. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management discussion and analysis report is annexed as Annexure V.

32. STATEMENT OF COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:

The Board hereby states that the Company has complied with all the applicable
secretarial standards to the extent possible.

33. INDEPENDENT DIRECTOR''S MEETING

The Board of Directors of the Company meets once in every Financial Year without the
presence of Executive Directors and Management of the Company. The role of the
Directors is as per the provisions of Companies Act, 2013 as well as the Securities
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015.

34. DECLARATION BY INDEPENDENT DIRECTOR

Pursuant to Section 149(6) of the Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirement) Regulations, 2015, the Independent Directors of the Company
have given the declaration to the Company that they qualify the criteria of
independence as required under the Act.

35. BOARD EVALUATION

Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirement) Regulations, 2015, the Board has carried out annual
performance evaluation of its own performance, the directors individually as well the
evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder
committee, including the Chairman of the Board who were evaluated on parameters
such as level of engagement and contribution and independence of judgment thereby
safeguarding the interest of the Company. The performance evaluation of the
Independent Directors was carried out by the entire Board. The performance evaluation
of the Chairman and the Non-Independent Directors was carried out by the

Independent Directors. The Directors expressed their satisfaction with the evaluation
process.

36. PARTICULARS OF LOANS GIVEN, GUARANTEES GIVEN OR INVESTMENTS MADE UNDER
SECTION 186 OF COMPANIES ACT, 2013

Particulars of loans, guarantees and investments made by Company pursuant to Section
186 of the Companies Act, 2013 are given in the notes to the financial accounts forming
part of the Annual Report. The loans and advances made by the Company, during the
financial year under review, are within the limits prescribed in the section 186 of the
Companies Act, 2013.

37. MATERIAL CHANGES BETWEEN THE DATE OF THE BOARD REPORT AND END OF
FINANCIAL YEAR

Subsequent to year under review, the following changes were made through (01/2025-
26) postal ballot dated May 19, 2025:¬
1. The Main Object Clause of the Memorandum of Association was amended by way of
(01/2025-26) postal ballot dated May 19, 2025, in accordance with applicable
provisions of the Companies Act, 2013.

2. The Company through its (01/2025-26) postal ballot dated May 19, 2025, in
accordance with the applicable provisions of the Companies Act, 2013 altered and
replaced the existing Clause 3 of the Article of Association of the Company related to
Share Capital of the company.

3. The company through its (01/2025-26) postal ballot dated May 19, 2025 and in
compliance with the provisions of Section 12 and other applicable provisions of the
Companies Act, 2013, passed special resolution for shifting of the registered office of
the company within the same state.

4. Pursuant to the (01/2025-26) postal ballot dated May 19, 2025, the Company
increased its Authorized Share Capital to ^75,00,00,000 (Rupees Seventy-Five
Crores), divided into 7,50,00,000 (Seven Crore Fifty Lakh) equity shares of ^10
(Rupees Ten) each. Consequently, the Memorandum of Association was amended to
reflect this change.

Subsequent to year under review, the following changes are proposed for members
approval through (02/2025-26) postal ballot notice dated August 25, 2025:¬
1. Increase in authorized share capital to Rs. 3,00,00,00,000/- (Rupees Three Hundred
Crores) divided into 30,00,00,000 (Thirty Crores) equity shares of Rs. 10/- (Rupees
Ten) each and consequent alteration of Memorandum of Association of the
Company.

2. Addition in the Main Object Clause of the company and alteration of Memorandum
of Association of the company thereafter.

As per MCA Circular, Current year AGM is being held through Video Conferencing.
Necessary procedure is given in the AGM Notice. Members are requested to update
their Email ID either by writing to the Company or through the Register or Transfer
Agents.

38. MATERIAL DEVELOPMENTS DURING THE FINANCIAL YEAR

Material changes subsequent to the end of the financial year is disclosed herein above.

39. SIGNIFICANT AND / OR MATERIAL ORDERS PASSED BY THE REGULATORS

No significant and/or material order was passed by any Regulator, any Court in India or
any Tribunal, impacting the going concern status and the Company''s operations in
future.

40. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR
ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR

As on March 31, 2025, there is no proceeding pending under the Insolvency and
Bankruptcy Code, 2016.

41. 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

There is no one time settlement done with bank or any financial institution.

42. IN CASE THE SECURITIES ARE SUSPENDED FROM TRADING, THE DIRECTORS REPORT
SHALL EXPLAIN THE REASON THEREOF

The trading of the company has not been suspended.

43. NOMINATION AND REMUNERATION POLICY

An extract of the Company''s policy relating to directors appointment, payment of
remuneration and discharge of their duties is annexed herewith. The web link to the
Nomination and Remuneration Policy is as under:

https://www.rubramed.com/policies/NominationandRemunerationPolicy.pdf

44. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The Company does not have any employee/Director who is in receipt of remuneration
exceeding the sum prescribed in Section 197 of the Companies Act, 2013 ("the Act")
read with Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
a statement showing the names of the top ten employees in terms of remuneration
drawn and names and other particulars of the employees drawing remuneration in
excess of the limits set out in the said rules is available for inspection.

Having regard to the second proviso to rule 5(3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, such particulars shall be made
available to any shareholder on a specific request made by him in writing before the
date of such Annual General Meeting. Any member interested in obtaining such
information may write to the company. The same is annexed herewith as Annexure- III.

45. A STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY,
EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT
DIRECTORS APPOINTED DURING THE YEAR

In the opinion of the board, the independent directors fulfill the conditions specified in
SEBI (LODR) Regulations, 2015, and are independent of the management of the
Company. The Independent Directors have complied with the code prescribed in
schedule IV of the Companies Act, 2013.

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

The company has in place a policy for prevention of sexual harassment in accordance
with the requirements of the Sexual Harassment of women at workplace (Prevention,
Prohibition & Redressal) Act, 2013. Internal Complaints Committee has been set up to
redress complaints received regarding sexual harassment.

The Board thereafter constituted a sexual harassment committee. The Composition of
sexual harassment Committee as on March 31, 2025 is as under:

Name of the Member	Status
Mr. Sneha Thakur - Non-Executive Independent Director	Chairperson
Ms. Abha Kapoor - Whole Time Director	Member
Mr. Gopal Sahu - Non-Executive Independent Director	Member

Ms. Sneha Prakash Thakur (DIN: 07805202), Non- Executive Independent director of
the Company has resigned from the Directorship of the Company w.e.f. March 25,
2025.

Hence the Sexual Harassment Committee of the Company is re-constituted w.e.f. April
04, 2025.

The Revised Composition of Sexual Harassment Committee is as under:

Name of the Member	Status
Ms. Shruti Gupta - Non-Executive Independent Director	Chairperson
Ms. Bhawna Saunkhiya - Non-Executive Independent Director	Member
Mr. Saurabh - Non-Executive Independent Director	Member

All employees (permanent, contractual, temporary, trainees) are covered under this
policy.

a. number of complaints filed during the financial year - None

b. number of complaints disposed of during the financial year - None

c. number of complaints pending as on end of the financial year - None

47. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

The Company does 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).

48. MATERNITY BENEFIT

The Company affirms that it has duly complied with all provisions of the Maternity
Benefit Act, 1961, and has extended all statutory benefits to eligible women employees
during the year.

49. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has adequate internal financial controls besides timely statutory audit
and limited reviews of performance taking place periodically.

50. REGISTRATION WITH INDEPENDENT DIRECTORS DATABANK

The Independent directors of the company are registered with Independent director
databank.

51. DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act, the Directors state that:

(a) In the preparation of the annual accounts, the applicable accounting standards have
been followed along with proper explanation relating to material departures, if any;

(b) Appropriate accounting policies have been selected and applied consistently and have
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
profit for the Company for the year ended March 31, 2025;

(c) Proper and sufficient care has been taken for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013 for safeguarding
the assets of the Company and for preventing and detecting fraud and other
irregularities;

(d) The annual accounts have been prepared on a going concern basis;

(e) Proper internal financial controls were followed by the Company and such internal
financial controls are adequate and were operating effectively;

(f) Proper systems are devised to ensure compliance with the provisions of all applicable
laws and that such systems are adequate and operating effectively.

52. ACKNOWLEDGEMENT

Your Director''s takes opportunity to show gratitude towards the assistance and co¬
operation received from Shareholders.

For and on Behalf of the Board of Directors of
Checkpoint Trends Limited

Sd/- Sd/-

Pradeep Kumar Shubham Chaudhary
Place: Mumbai Whole time Director Whole time Director

Date: August 28, 2025 DIN: 00209355 DIN: 09298013

---

Mar 31, 2024

Your Directors'' have pleasure in presenting Annual Report together with the Audited
Accounts of the Company for the year ended 31^st March, 2024.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2023-24 is summarized below:

(Rs. In Thousands)

Particulars	2023-2024	2022-2023
Income from Operations	11300	11601.50
Other Income	9.35	16.29
Total Income	11309.35	11617.79
Less: Expenses	(11084.87)	(12424.49)
Profit/(Loss) Before Extraordinary Items and Tax	224.48	(806.70)
Less: Extraordinary Items	-	-
Profit/(Loss) Before Tax	224.48	(806.70)
Less: Taxation	(77.62)	(21.19)
Profit/(Loss) After Tax	302.09	(785.51)
EPS (in Rs.)	0.06	(0.14)

2. FINANCIAL SUMMARY

The Company earned income from operation of Rs. 11309.35 (in thousands) during the
FY 2023-24, as compared to the income from operation of Rs. 11617.79 (in thousands)
earned in the previous FY 2022-23. The Company''s Net Profit for the Financial Year
ended March 31, 2024 stood at Rs. 302.09 (in thousands) as against a Net loss of Rs. Rs.
785.51 (in thousands) in the previous year.

3. CHANGE IN NAME OF THE COMPANY

During the financial year under review, there is no change in the name of the Company.

4. CHANGE IN NATURE OF BUSINESS

During the financial year under review, there is no change in the nature of business of
the Company.

5. TRANSFER TO RESERVES

No amount has been transferred to Reserves during the year under review.

6. CHANGES IN SHARE CAPITAL

The Authorised Share Capital of the Company is Rs.8,20,00,000/- divided into 82,00,000
equity shares of Rs. 10/- each and the paid-up share capital of the Company is
Rs.5,46,83,000/- divided into 54,68,300 equity shares of Rs. 10/- each.

The Company has not issued any kind of shares or securities during the year under
review.

7. DIVIDEND

The Board of Directors expressed their inability to recommend any dividend on equity
shares for the year ended March 31, 2024.

8. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposits from public nor during the
previous financial year.

9. BUY-BACK / SWEAT EQUITY / BONUS SHARES

The Company has neither bought back its shares nor has issued any sweat equity or
Bonus shares during the year under review.

10. EMPLOYEES STOCK OPTION PLAN

The Company has not provided any Stock Option Scheme to the Employees.

11. ISSUE OF DEBENTURES, BONDS OR ANY NON-CONVERTIBLE SECURITIES

The Company has not issued any debenture, bonds or non-convertible securities.

12. STATUTORY AUDITORS

The Members had appointed M/s. DD & Company (erstwhile M/s. Dinesh H. Agarwal &
Company)., Chartered Accountants, as Statutory Auditor of the Company at the Annual
General Meeting held on September 29, 2018 and September 30, 2021 for a period of
five years in aggregate from FY 2018-19 to FY 2022-2023.

The term of Statutory Auditor will end at the ensuing Annual General Meeting ("AGM")
of the Company and the Company is required to appoint new Statutory Auditors.

Pursuant to section 139 of the Companies Act, 2013 the Board in its meeting held on
August 30, 2023 has recommended the appointment of M/s. L K Ajmera & Associates
Chartered Accountants as new Statutory Auditor of the company to hold office for a
period of five (5) financial years (for FY 2023-2024 till FY 2027-2028), i.e from conclusion
of this Annual General Meeting till conclusion of Annual General Meeting to be held in
the year 2028, at a remuneration to be determined by the Board of Directors and
Auditors.

13. INTERNAL AUDITOR

In the Board Meeting held on August 30, 2023, Ms. Ankita Agawane, Internal Auditor of
the company had resigned and the Board appointed new Internal Auditor Mr. Arun
Mulya for a period of three years from FY 2023-2024 to FY 2025-2026.

14. STATUTORY AUDIT REPORT

The Auditors'' Report on the financial statement for the current year is self-explanatory,
therefore does not require any further explanation. The Company has already
submitted declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligation and
Disclosure Requirements) Regulations, 2015 to the Stock Exchange(s).

15. COST AUDITOR REPORT AND COST RECORD

Appointment of Cost Auditor and maintenance of cost records is not applicable to the
company.

16. SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT

M/s. Maithili Nandedkar & Associates, Practicing Company Secretaries, appointed as
Secretarial Auditor in the Board Meeting held on held on August 12, 2021 to conduct
the Secretarial Audit for the 3 (Three) financial years FY 2021-22 till FY 2023-24. Later
on, M/s. Maithili Nandedkar & Associates changed their firm name to M/s. MNB &
Co. LLP.

Therefore, M/s. MNB & Co. LLP, Practising Company Secretaries are the secretarial
auditor for the financial year 2022-2023 and 2023-2024.

Further, the Board of Directors in their meeting held on May 25, 2024 have re¬
appointed M/s. MNB & Co. LLP, Practising Company Secretaries for a further period of 3
years i.e. F.Y. 2024-2025 upto F.Y 2026-2027.

The Secretarial Audit Report for the Financial Year 2023-2024 forms part of the Annual
Report. The Secretarial Auditors'' Report presented to the Members for the year under
review is qualified and is annexed to this Report.

The Secretarial Audit report for the current year is self-explanatory, therefore does not
require any further explanation and listing fees has not paid due to financial crises faced
by the company.

17. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12)
OF SECTION 143

There are no frauds reported by the Statutory Auditors of the Company under Section
143 (12).

18. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the Companies Act, none of the Directors are liable to retire by
rotation at the ensuing Annual General Meeting.

Ms. Komal Behl, Company Secretary, has tendered her resignation effective January 24,
2024. As on date, the Company does not have a Company Secretary.

Ms. Abha Rajesh Kapoor (DIN: 02799429) was re-appointed as Whole-Time Director of
the Company for further period of 3 years w.e.f. June 14, 2023 till June 13, 2026

Subsequent to year under review, Mr. Sunil Khandelwal has been ceased to be a
Director of the Company due to expiry of his tenure.

Also, Mr. Gopal Kumar Sahu has been re-appointed as Independent Director of the
Company for a period of 5 years subject to the approval of the shareholders in the
ensuing General Meeting of the Company.

Disclosure Requirement	Details
Name of the Director	Abha Kapoor
Date of appointment	June 14, 2023
Term of Appointment	3 years
Disclosure of relationship between	Ms. Abha Kapoor is not related to any
Directors inter-se	Director of the Company
Declaration	We confirm that Ms. Abha Kapoor is not debarred from holding the office of Director of the Company, by virtue of any SEBI order or any other such authority.
Names of listed entities in which the person also holds the directorship and the membership of Committees of the board along with listed entities from which the person has resigned in the past three years	Checkpoint Trends Limited
Nature of expertise in specific functional areas	Finance
Brief profile	Ms. Abha Kapor is highly skillful and possesses vast experience in the field of Finance. She is not related to any other Director of the Company and is also not a Director in any other listed company. She or her relatives do not hold any shares in the Company.

Disclosure Requirement	Details
reason for change viz. appointment, re-	Mr. Gopal Kumar Sahu is being re-

	appointed as an Independent Director for second term.
otherwise;
date of appointment/re appointment/cessation (as applicable) & term of appointment/re-appointment;	Date of re-appointment- With effect from June 11, 2024. His present tenure as Whole-time Director will conclude on June 10, 2024. Terms of Re-Appointment: For the period of five years from the date of appointment subject to shareholders approval.
Names of listed entities in which the person also holds the directorship and the membership of Committees of the board along with listed entities from which the person has resigned in the past three years	Shantee Urban Developers Private Limited- Director
Brief profile (in case of appointment)	Mr. Gopal Sahu is appointed as an Independent Director of the Company. Mr. Gopal Sahu aged 28 years, is a graduate having an experience of over eight years in general trading activities. He is not related to any other Director of the Company and is also not a director in any other listed company. He or his relatives do not hold any shares in the Company.
disclosure of relationships between directors (in case of appointment of a director).	Gopal Sahu is not related to any Director of the Company.

Disclosure Requirement	Details
reason for change viz. appointment, re-	Mr. Sunil Ramesh Khandalwal is ceased to be a director due to expiry of term and not being reappointed.
appointment, resignation, lemuvul, death ui otherwise;
date of appointment/re- appointment/cessation (as applicable) & term of appointment/re-appointment;	Date of Cessation- With effect from May 27, 2024.
Brief profile (in case of appointment)	Not Applicable
disclosure of relationships between directors (in case of appointment of a director).	Not Applicable

19. ANNUAL RETURN

The Annual Return for the financial year ended March 31, 2024 along with Notice of
AGM is being uploaded on the website of the Company. The web link for the same is as
under: https://www.rubramed.com/extract-annual-return.html

20. DETAILS OF SUBSIDIARIES/ASSOCIATES/JOINT VENTURES, IF ANY:

As on March 31, 2024, the Company does not have any subsidiary, associate or joint
venture.

21. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO

The information pertaining to Conservation of Energy, Technology Absorption and
Foreign Exchange earnings and outgo as required under section 134(3)(m) of the
Companies Act, 2013 read with rule 8(3) of the Companies (Accounts) Rules, 2014 is
annexed to this report as Annexure II.

22. VIGIL MEGHANISM

The Company has established a Vigil Mechanism that enables the Directors and
Employees to report genuine concerns. The Vigil Mechanism provides for

(a) adequate safeguards against victimization of persons who use the Vigil Mechanism;
and

(b) direct access to the Chairperson of the Audit Committee of the Board of Directors of
the Company in appropriate or exceptional cases.

The web link for the policy is as under:

https://www.rubramed.com/policies/Vigil-Mechanism-Policy.pdf

23. CORPORATE SOCIAL RESPONSIBILITY

The provisions of Corporate Social Responsibility are not applicable to the Company as
it does not fall within the purview of Section 135(1) of the Companies Act, 2013.

24. RELATED PARTY TRANSACTIONS

There were no contracts or arrangements entered into by the Company with related
parties referred to in sub-section (1) of section 188 of the Companies Act, 2013. The
related party transactions as per IND AS 24 are given in the notes to the financial
accounts and forms part of the Annual Report.

The policy on Related Party Transactions is part of the website of the Company. The
web link for the policy on related party transaction is as under:
https://www.rubramed.com/policies/Related-Party-Transaction.pdf

25. RISK MANAGEMENT

The Company has devised and implemented a mechanism for risk management.

26. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company proactively keeps its Directors informed of the activities of the Company,
its management and operations and provides an overall industry perspective as well as
issues being faced by the industry. Details of the Familiarization program for
Independent Directors form part of the website of the Company. The web link of
Familiarization program is as under:

https://www.rubramed.com/policies/Familarisation-of-Independent-Director.pdf

27. MEETING OF BOARD OF DIRECTORS

The details of Board Meeting forms part of Corporate Governance Report.

28. CORPORATE GOVERNANCE

Pursuant to Regulation 15(2) of the Securities Exchange Board of India (Listing
Obligations and Disclosure Requirements) 2015, compliance of Corporate Governance is
not mandatory. However, the company has complied with the provisions of Regulation
17 to 27 of the Securities Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, to the extent possible. A separate section on
Corporate Governance forms part of the Directors'' Report as stipulated in Securities
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, is included in the Annual Report as Annexure V.

29. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management discussion and analysis report is annexed as Annexure VI.

30. STATEMENT OF COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:

The Board hereby states that the Company has complied with all the applicable
secretarial standards to the extent possible.

31. INDEPENDENT DIRECTOR''S MEETING

The Board of Directors of the Company meets once in every Financial Year without the
presence of Executive Directors and Management of the Company. The role of the
Directors is as per the provisions of Companies Act, 2013 as well as the Securities
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015.

32. DECLARATION BY INDEPENDENT DIRECTOR

Pursuant to Section 149(6) of the Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirement) Regulations, 2015, the Independent Directors of the Company
have given the declaration to the Company that they qualify the criteria of
independence as required under the Act.

33. BOARD EVALUATION

Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirement) Regulations, 2015, the Board has carried out annual
performance evaluation of its own performance, the directors individually as well the
evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder
committee, including the Chairman of the Board who were evaluated on parameters
such as level of engagement and contribution and independence of judgment thereby
safeguarding the interest of the Company. The performance evaluation of the
Independent Directors was carried out by the entire Board. The performance evaluation
of the Chairman and the Non-Independent Directors was carried out by the

Independent Directors. The Directors expressed their satisfaction with the evaluation
process.

34. PARTICULARS OF LOANS GIVEN, GUARANTEES GIVEN OR INVESTMENTS MADE UNDER
SECTION 186 OF COMPANIES ACT, 2013

Particulars of loans, guarantees and investments made by Company pursuant to Section
186 of the Companies Act, 2013 are given in the notes to the financial accounts forming
part of the Annual Report. The loans and advances made by the Company, during the
financial year under review, are within the limits prescribed in the section 186 of the
Companies Act, 2013.

35. MATERIAL CHANGES BETWEEN THE DATE OF THE BOARD REPORT AND END OF
FINANCIAL YEAR

Subsequent to year under review, there was no change. As per MCA Circular, Current
year AGM is being held through Video Conferencing. Necessary procedure is given in
the AGM Notice. Members are requested to update their Email ID either by writing to
the Company or through the Register or Transfer Agents.

36. MATERIAL DEVELOPMENTS DURING THE FINANCIAL YEAR

Material changes subsequent to the end of the financial year is disclosed herein above.

37. SIGNIFICANT AND / OR MATERIAL ORDERS PASSED BY THE REGULATORS

No significant and/or material order was passed by any Regulator, any Court in India or
any Tribunal, impacting the going concern status and the Company''s operations in
future.

38. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR
ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR

As on March 31, 2024, there is no proceeding pending under the Insolvency and
Bankruptcy Code, 2016.

39. 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

There is no one time settlement done with bank or any financial institution.

40. IN CASE THE SECURITIES ARE SUSPENDED FROM TRADING, THE DIRECTORS REPORT
SHALL EXPLAIN THE REASON THEREOF

The trading of the company has not been suspended.

41. NOMINATION AND REMUNERATION POLICY

An extract of the Company''s policy relating to directors appointment, payment of
remuneration and discharge of their duties is annexed herewith. The web link to the
Nomination and Remuneration Policy is as under:

https://www.rubramed.com/policies/NominationandRemunerationPolicy.pdf

42. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The Company does not have any employee/Director who is in receipt of remuneration
exceeding the sum prescribed in Section 197 of the Companies Act, 2013 ("the Act")
read with Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
a statement showing the names of the top ten employees in terms of remuneration
drawn and names and other particulars of the employees drawing remuneration in
excess of the limits set out in the said rules is available for inspection.

Having regard to the second proviso to rule 5(3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, such particulars shall be made
available to any shareholder on a specific request made by him in writing before the
date of such Annual General Meeting. Any member interested in obtaining such
information may write to the company. The same is annexed herewith as Annexure- III.

43. A STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY,
EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT
DIRECTORS APPOINTED DURING THE YEAR

In the opinion of the board, the independent directors fulfill the conditions specified in
SEBI (LODR) Regulations, 2015, and are independent of the management of the
Company. The Independent Directors have complied with the code prescribed in
schedule IV of the Companies Act, 2013.

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

The company has in place a policy for prevention of sexual harassment in accordance
with the requirements of the Sexual Harassment of women at workplace (Prevention,
Prohibition & Redressal) Act, 2013. Internal Complaints Committee has been set up to
redress complaints received regarding sexual harassment. The Board thereafter
constituted a sexual harassment committee where the chairperson of the Committee is
Ms. Sneha Thakur, and Ms. Abha Kapoor and Mr. Gopal Sahu are the Members. All
employees (permanent, contractual, temporary, trainees) are covered under this policy.

a. number of complaints filed during the financial year - None

b. number of complaints disposed of during the financial year - None

c. number of complaints pending as on end of the financial year - None

45. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

The Company does 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).

46. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has adequate internal financial controls besides timely statutory audit
and limited reviews of performance taking place periodically.

47. REGISTRATION WITH INDEPENDENT DIRECTORS DATABANK

The Independent directors of the company are yet to be registered with Independent
director databank.

48. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act, the Directors state that:

(a) In the preparation of the annual accounts, the applicable accounting standards have
been followed along with proper explanation relating to material departures, if any;

(b) Appropriate accounting policies have been selected and applied consistently and have
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, 2024 and of the
profit for the Company for the year ended March 31, 2024;

(c) Proper and sufficient care has been taken for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013 for safeguarding
the assets of the Company and for preventing and detecting fraud and other
irregularities;

(d) The annual accounts have been prepared on a going concern basis;

(e) Proper internal financial controls were followed by the Company and such internal
financial controls are adequate and were operating effectively;

(f) Proper systems are devised to ensure compliance with the provisions of all applicable
laws and that such systems are adequate and operating effectively.

49. ACKNOWLEDGEMENT

Your Directors takes opportunity to show gratitude towards the assistance and co¬
operation received from Shareholders.

For and on Behalf of the Board of Directors of
Checkpoint Trends Limited
(formerly known as Rubra Medicaments Limited)

Abha Kapoor Gopal Kumar Sahu
Place: Mumbai Whole time Director and CFO Director

Date: September 05, 2024 DIN: 02799429 DIN: 08478039

---

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2014.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2013-14 is summarized below:

(Rs. In Lacs) Particulars 2013-2014 2012-2013

Profit/(Loss) Before Depreciation (5.86) (5.32)

Less: Depreciation - -

Profit/(Loss) Before Tax (5.86) (5.32)

Less: Taxation - -

Profit/(Loss) After Tax (5.86) (5.32)

2. OPERATIONS

The Company''s Net Loss for the Financial Year ended March 31, 2014 stood at Rs. 5.86 lacs as against Rs.5.32 lacs in the previous year.

3. DIVIDEND

The Board of Directors express their inability to recommend any dividend on equity shares for the year ended March 31, 2014 due to absence of profit.

4. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposit.

5. AUDITORS

M/s. D M Oza & Associates, Chartered Accountants, Mumbai, Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received confirmation that their appointment, if made, would be within the prescribed limit specified under relevant sections of the Companies Act and that they are not disqualified for such appointment. Your Directors recommend re-appointment of M/s. D M Oza & Associates as the Statutory Auditors of the Company for the current financial year and fixation of their remuneration.

6. AUDITORS'' REPORT

The Auditors'' Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation.

7. DIRECTORS

In accordance with the Companies Act, the director liable to retire by rotation at the ensuring Annual General Meeting, retires by rotation and being eligible offer itself for re-appointment.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

A statement containing the necessary information required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed to this report.

9. PARTICULARS OF EMPLOYEES

The Company does not have any employee who is in receipt of remuneration aggregating to the sum prescribed u/s. 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended till date.

10. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements u/s. 217(2AA) of the Companies Act, 1956, your Directors hereby state and confirm that:

(i) In preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures, if any

(ii) They have selected the 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 under review and for the loss of the Company for the same period.

(iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) They have prepared the Annual Accounts on "GOING CONCERN" basis.

11. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement the Company has adopted most of the provisions of Clause 49 of the Listing agreement. A report on Corporate Governance along with a certificate from the Auditors of the Company regarding the compliance of conditions of Corporate Governance and also the Management Discussion and Analysis Report are annexed to this report.

12. ACKNOWLEDGEMENTS

Your Directors takes opportunity to show gratitude towards the assistance and co-operation received from Shareholders.

For and on Behalf of the Board of Directors of RUBRA MEDICAMENTS LIMITED

Place: Hyderabad Date: September 02, 2014 Director Director

---

Mar 31, 2013

Dear Members,

The Directors have pleasure in presenting the 22nd Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2013.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2012-13 is summarized below:

(Rs. In Lacs)

Particulars 2012-2013 2011-2012

Profit/(Loss) Before Depreciation (5.32) (6.22)

Less: Depreciation

Profit/(Loss) Before Tax (5.32) (6.22)

Less: Taxation

Profit/(Loss) After Tax (5.32) (6.22)

2. OPERATIONS

The Company''s Net Loss for the Financial Year ended March 31, 2013 stood at Rs.5.32 lacs as against Rs.6.22 lacs in the previous year.

3. DIVIDEND

The Board of Directors express their inability to recommend any dividend on equity shares for the year ended March 31, 2013 due to absence of profit.

4. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposit u/s. 58A of the Companies Act, 1956.

5. AUDITORS

M/s. D M Oza & Associates., Chartered Accountants, Mumbai, Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received confirmation that their appointment, if made, would be within the prescribed limit specified u/s. 224(1B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956. Your Directors recommend re-appointment of M/s. D M Oza & Associates as the Statutory Auditors of the Company for the current financial year and fixation of their remuneration.

6. AUDITORS'' REPORT

The Auditors'' Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation.

7. DIRECTORS

In accordance with the Companies Act, 1956, the director liable to retire by rotation at the ensuring Annual General Meeting, retires by rotation and being eligible offer itself for re-appointment.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

A statement containing the necessary information required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed to this report as Annex 1.

9. PARTICULARS OF EMPLOYEES

The Company does not have any employee who is in receipt of remuneration aggregating to the sum prescribed u/s. 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended till date.

10. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements u/s. 217(2AA) of the Companies Act, 1956, your Directors hereby state and confirm that:

(i) In preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures, if any

(ii) They have selected the 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 under review and for the loss of the Company for the same period. (iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. (iv) They have prepared the Annual Accounts on "GOING CONCERN” basis.

11. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement the Company has adopted most of the provisions of Clause 49 of the Listing agreement. A report on Corporate Governance along with a certificate from the Auditors of the Company regarding the compliance of conditions of Corporate Governance and also the Management Discussion and Analysis Report are annexed to this report.

12. ACKNOWLEDGEMENTS

Your Directors takes opportunity to show gratitude towards the assistance and co-operation received from Banks and other Agencies and Shareholders resulting in good performance during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the dedicated services rendered by Executives, staff and workers of the Company.

For and on Behalf of the Board of Directors of

RUBRA MEDICAMENTS LIMITED

Place: Hyderabad

Date: September 02, 2013 Director Director

---

Mar 31, 2012

Dear Members,

The Directors have pleasure in presenting the 21st Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2012.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2011-12 is summarized below:

(Rs. In Lacs)

Particulars 2011-2012 2010-2011

Profit/(Loss) Before Depreciation (6.22) (16.88)

Less: Depreciation - -

Profit/(Loss) Before Tax (6.22) (16.88)

Less: Taxation - -

Profit/(Loss) After Tax (6.22) (16.88)

2. OPERATIONS

The Company''s Net Loss for the Financial Year ended March 31, 2012 stood at Rs.6.22 lacs as against Rs.16.88 lacs in the previous year.

3. DIVIDEND

The Board of Directors express their inability to recommend any dividend on equity shares for the year ended March 31, 2012 due to absence of profit.

4. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposit u/s. 58A of the Companies Act, 1956.

5. AUDITORS

M/s. D M Oza & Associates., Chartered Accountants, Mumbai, Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received confirmation that their appointment, if made, would be within the prescribed limit specified u/s. 224(1B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956. Your Directors recommend re-appointment of M/s. D M Oza & Associates as the Statutory Auditors of the Company for the current financial year and fixation of their remuneration.

6. AUDITORS'' REPORT

The Auditors'' Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation.

7. DIRECTORS

In accordance with the Companies Act, 1956, the director liable to retire by rotation at the ensuring Annual General Meeting, retires by rotation and being eligible offer itself for re-appointment.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

A statement containing the necessary information required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed to this report as Annex 1.

9. PARTICULARS OF EMPLOYEES

The Company does not have any employee who is in receipt of remuneration aggregating to the sum prescribed u/s. 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended till date.

10. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements u/s. 217(2AA) of the Companies Act, 1956, your Directors hereby state and confirm that:

(i) In preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures, if any

(ii) They have selected the 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 under review and for the loss of the Company for the same period.

(iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) They have prepared the Annual Accounts on "GOING CONCERN" basis.

11. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement the Company has adopted most of the provisions of Clause 49 of the Listing agreement. A report on Corporate Governance along with a certificate from the Auditors of the Company regarding the compliance of conditions of Corporate Governance and also the Management Discussion and Analysis Report are annexed to this report.

12. ACKNOWLEDGEMENTS

Your Directors takes opportunity to show gratitude towards the assistance and co-operation received from Banks and other Agencies and Shareholders resulting in good performance during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the dedicated services rendered by Executives, staff and workers of the Company.

For and on Behalf of the Board of Directors of

RUBRA MEDICAMENTS LIMITED

Place: Hyderabad

Date: September 01, 2012 Director Director

---

Mar 31, 2011

Dear Members,

The Directors have pleasure in presenting the 20th Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2011.

1. FINANCIAL RESULTS

Your Company financial performance during the year 2010-11 is summarized below:

(Rs. In Lacs)

Particulars 2010-2011 2009-2010

Profit Before Depreciation (16.88) (26.19)

Less: Depreciation - 5.23

Profit Before Tax (16.88) (31.42)

Less: Taxation - 1.61

Profit After Tax (16.88) (33.04)

2. OPERATIONS

The Company''s revenue for the financial year ended March 31, 2011 stood at Rs. 0.42 lacs as compared to Rs. 88.94 lacs in the previous year and Net Loss for the Financial Year ended March 31, 2011 stood at Rs.16.88 lacs as against Rs.33.04 lacs in the previous year.

3. DIVIDEND

The Board of Directors express their inability to recommend any dividend on equity shares for the year ended March 31, 2011 due to absence of profit.

4. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposit u/s. 58A of the Companies Act, 1956.

5. AUDITORS

M/s. D M Oza & Associates., Chartered Accountants, Mumbai, Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received confirmation that their appointment, if made, would be within the prescribed limit specified u/s. 224(1B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956.

Your Directors recommend re-appointment of M/s. D M Oza & Associates as the Statutory Auditors of the Company for the current financial year and fixation of their remuneration.

6. AUDITORS'' REPORT

The Auditors'' Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation.

7. DIRECTORS

In accordance with the Companies Act, 1956, the director liable to retire by rotation at the ensuring Annual General Meeting, retires by rotation and being eligible offer itself for re-appointment.

8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

A statement containing the necessary information required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is annexed to this report as Annex 1.

9. PARTICULARS OF EMPLOYEES

The Company does not have any employee who is in receipt of remuneration aggregating to the sum prescribed u/s. 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended till date.

10. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the requirements u/s. 217(2AA) of the Companies Act, 1956, your Directors hereby state and confirm that:

(i) In preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures, if any

(ii) They have selected the 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 under review and for the loss of the Company for the same period.

(iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) They have prepared the Annual Accounts on "GOING CONCERN" basis.

11. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement the Company has adopted most of the provisions of Clause 49 of the Listing agreement. A report on Corporate Governance along with a certificate from the Auditors of the Company regarding the compliance of conditions of Corporate Governance and also the Management Discussion and Analysis Report are annexed to this report.

12. ACKNOWLEDGEMENTS

Your Directors takes opportunity to show gratitude towards the assistance and co-operation received from Banks and other Agencies and Shareholders resulting in good performance during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the dedicated services rendered by Executives, staff and workers of the Company.

For and on Behalf of the Board of Directors of

RUBRA MEDICAMENTS LIMITED

Place: Hyderabad

Date: September 01, 2011 Director Director

---

Mar 31, 2010

The Directors have pleasure in presenting the 19th Annual Report on the business and operations of your Company for the financial year ended on 31st March, 2010.

FINANCIAL RESULTS

(Rs. in Lakhs)

Particulars Year ended 31.03.2010 Year ended 31.03.2009 Total Income 88.94 102.09 Profit / (Loss) before depreciation, interest and tax -26.19 (2.97) Depreciation 5.23 5.22 Interest Nil Nil Net Profit / (Loss) Before Tax for the year -31.42 (8.19) Fringe Benefit Tax Nil 0.22 Net Profit / (Loss) after Tax -31.42 (8.41)

OPERATIONAL PERFORMANCE

During the year under review, your Company has registered turnover of Rs. 88.94 Lakhs as against Rs. 102.09 Lakhs for the previous year registering a decrease of Rs. 13.15 Lakhs. The company ended with a Net Loss of Rs. 31.42 Lakhs as against a loss of Rs. 8.41 Lakhs for the previous Year. This was due to decrease in the turnover coupled with raise in the cost of raw materials and the personnel.

FUTURE PROSPECTS

This is year the Company has ended up with a loss. Board of Directors feels that the scenario may not improve as the ongoing recession has put pressure on margins of the Company. The Company is looking for alternative avenues to take up.

Pursuant to the resolution passed by the members of the Company under Section 192A and 293(l)(a) of the Companies Act, 1956 on July 02, 2009 by way of Postal Ballot, the Company has sold its Business with assets & liabilities including manufacturing facilities located at 109/3, IDA Phase II, Sector II, Lane 6, Cherlapally, R.R. Dist, Hyderabad - 500051, Andhra Pradesh to M/s. Rubra Pharmaceuticals Limited, a Company registered under the Companies Act, 1956 and having its registered office at 4-3-64/3, Raghunath Bagh, Kandaswamy Lane, Sultan Bazar, Hyderabad, Andhra Pradesh.

INDUSTRIAL RELATIONS

The Industrial and personnel relations have been cordial during the year.

DIVIDEND

The Board of Directors expresses their inability to recommend dividend for the financial year 2009-2010 due to absence of profit.

FIXED DEPOSITS

The Company has not accepted any deposits during the year within the meaning of Section 58 A of the Companies Act, 1956 and the rules made there under. So the provisions of Section 58A are not applicable to the Company.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, your Directors hereby confirm that:

(i) In the preparation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state Of affairs of the Company as on 31st March 2010 and of the Loss of the Company for the year ended on 31st March 2010.

(iii) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) The directors have prepared the annual accounts for the financial year ended on 31st March. 2010 on a going concern basis.

DIRECTORS

Mr. Sushant Mohanlal, Director retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. Board of Directors recommends his re- appointment.

AUDITORS

The Auditors M/s. MRK Reddy & Co., Chartered Accountants will retire at the conclusion of the forthcoming Annual General Meeting and are eligible for re-appointment. The Company has received a letter to the effect that their appointment, if made, would be within the prescribed limits under Section 224(1-B) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

There are no employees whose particulars are required to be given under Section 217 (2A) of the Companies Act, 1956, read with the Companies(Particulars of Employees) Rules, 1975(As Amended).

INFORMATION PURSUANT TO THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988.

CORPORATE GOVERNANCE

Pursuant to the provisions of Clause 49 of the Listing Agreement and Section 292A of the Companies Act, 1956, a report on the Corporate Governance, which inter alia, includes the composition and construction of Audit Committee, is given as Annexure-II. Your Company will continue to adhere in letter and spirit to the good corporate governance policies.

Pursuant to the provision of Clause 49 (VII) (1) of the Listing Agreement, a certificate from the auditors of the Company on the compliance of the Clause is also enclosed.

CEO Declaration

Pursuant to the provisions of Clause 49(i) (D) (ii) of the Listing Agreement, a declaration by the Chairman and Managing Director of the Company declaring that all the members of the Board and the Senior Personnel of the Company have affirmed compliance with the Code of Conduct of the Company is enclosed.

ACKNOWLEDGMENTS

Your directors acknowledge the sincere efforts and hard work put in by the employees of the Company in its operations. The directors also wish to place on record their appreciation for the assistance and co-operation extended by customers, employees, shareholders, and all other business associates.

For and on behalf of the Board of Directors of Rubra Medicaments Limited Sd/- Place: Hyderabad Vishnu Kumar Gupta Date: 7th May 2010 Chairman