Directors Report of Hiliks Technologies Ltd.

Mar 31, 2025

Our Directors are pleased to present the 40^th (Fortieth) Annual Report on the business and
operations of the Company, together with the Audited Financial Statements for the financial year
ended 31^st March, 2025.

1. FINANCIAL RESULTS

The Company''s financial results for the financial year ended on the 31^st March, 2025 are as under:

Particulars	For The Year Ended ^^
		31st March, 2025 (In Thousands Rs.)		31st March, 2024 (In Thousands Rs.)
Revenue from operations		69,770		9,927
Other Income		-		341
Total Revenue		69,770		10,269
Total Expenses	63,397		9,231
Profit Before Tax & Extraordinary Item		6,373		1,037
Less: (a) Extraordinary Item		0		0
(b) Current Tax		1,700		220
(c) Deferred Tax		-		52
(d) Short / (Excess) Provision of earlier		39		239
years
Profit/(Loss) from the period from		4,634		526
continuing operations

2. RESERVES & PROVISIONS

The Company has not transferred any amount to general reserves.

3. DIVIDEND

The management believes that the profits earned during the financial year must be retained and
redeployed for the operations of the Company. As the Company needs further funds to enhance
its business operations, to upgrade the efficiency and to meet out the deficiencies in working
capital, the Directors do not recommend any dividend on equity shares for the financial year 2024¬
25.

4. CHANGE IN NATURE OF BUSINESS

There is no change in the nature of the business in the financial year under review.

5. SHARE CAPITAL

a) Authorized Share Capital

The Authorized Share Capital of the Company as on March 31, 2025 stood at Rs. 12,00,00,000/-
(Rupees Twelve Crore only) divided into 1,20,00,000 (one Crore Twenty Lakh) equity shares of Rs.
10/- (Rupees Ten only) each.

During the financial year 2024-25, the Authorized Share Capital of the Company has been
increased from Rs. 6,00,00,000/- to Rs. 12,00,00,000/-.

b) Paid-up Share Capital

The Paid-up Share Capital of your Company as on March 31, 2025 stood at Rs. 8,82,00,000/-
(Rupees Eight Crore Eighty Two Lakh only) divided into 88,20,000 (Eighty Eight Lakh Twenty
Thousand) equity shares of Rs. 10/- (Rupees Ten only) each.

During the financial year 2024-25, the Paid up Share Capital of the Company has been increased
from Rs. 6,00,00,000/- to Rs. 8,82,00,000/- by way of issue and allotment of 28,20,000 (Twenty Eight
Lakh Twenty Thousand) equity shares on preferential basis pursuant to conversion of warrants
and as on the date of this report the paid-up share capital of the Company is Rs. 9,50,00,000/-.

c) Warrants

The Company has allotted 48,00,000 (Forty Eight Lakh) convertible warrants on 21^st June, 2024 on
preferential basis at an issue price of Rs. 37/- (Rupees Thirty Seven only) each including premium
of Rs. 27/- (Rupees Twenty Seven only).

During the financial year 2024-25, the company has converted 28,20,000 (Twenty Eight Lakh
Twenty Thousand) warrants into equity shares. Post closure of financial year, 6,80,000 (Six Lakh
Eighty Thousand) warrants have been converted into equity shares. As on the date of this Report,
the balance 13,00,000 (Thirteen Lakh) warrants remain outstanding and are eligible for conversion
within the prescribed period.

6. DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP) APPOINTED
/ RESIGNED

As on 31^st March, 2025, the composition of Board of Directors and KMPs was as follows:

S. “No.	Director/KMP	DIN/PAN	Designation	Date of appointment
, 1	Mr. Sandeep Copparapu	08306534	, Whole time Director	12/03/2019
2	Mr. Rajeev Ramchandra Padhye	07064915	"Non-Executive Director	23/08/2017
3	Mr. Nagavenkata Padma Bhaskar Vedanabhatla	08105714	a Independent Director (Non-Executive)	12/04/2018
4	Ms. Jhansi Lakshmi Adivishnu	07348873	Non-Executive Director	30/09/2022
5	Mr. Veera Venkata Ramana Varma Mudunuri	01915394	Additional (Non¬ Executive Independent) Director	13/12/2024
6	Ms. Brinda Mahajan	BWPPS7310M	Company Secretary	05/07/2023

During the year under review:

• Ms. Jhansi Lakshmi Adivishnu has resigned from the Directorship w.e.f 13^th December,
2024.

• Mr. Veera Venkata Ramana Varma Mudunuri was appointed as an Additional (Non¬
executive and Independent) Director of the Company w.e.f 13^th December, 2024.

Further, post closure of the financial year, following changes took place:

• Mr. Rajeev Ramchandra Padhye has resigned from the Directorship w.e.f 28^th April, 2025.

• Mr. Mridul Tripathi was appointed as Chief Financial Officer of the Company w.e.f 29^th
May, 2025

• Ms. Srivalli Tirokuvalluri was appointed as an Additional Director (Non-Executive) of the
Company w.e.f 11^th August, 2025

• Mr. Bhanu Dinesh Alava was appointed as an Additional (Non-executive and
Independent) Director of the Company w.e.f 11^th August, 2025

• Mr. Veera Venkata Ramana Varma Mudunuri was re-designated as Additional (Non¬
executive and Non-Independent) Director of the Company w.e.f 11^th August, 2025

Furthermore, Mr. Veera Venkata Ramana Varma Mudunuri, Ms. Srivalli Tirokuvalluri and Mr.
Bhanu Dinesh Alava are proposed to be regularized as Directors in the ensuing Annual General
Meeting of the Company.

Also, in accordance with the provisions of the Companies Act, 2013 and the Articles of Association
of the Company, Mr. Sandeep Copparapu, Director is liable to retire by rotation at the ensuing
Annual General Meeting of the Company. Your Board of Directors commends his re-appointment.

7. MEETINGS

The Board met Eleven (11) times during the financial year 2024-25. The intervening gap between
any two Meetings was within the period prescribed by the Companies Act, 2013.

8. DECLARATION GIVEN BY INDEPENDENT DIRECTOR

The Company has received declarations from all the Independent Directors of your Company
confirming that:

a) They meet the criteria of independence prescribed under the Act and the SEBI Listing
Regulations.

b) They have registered their names in the Independent Directors'' Databank.

c) They are not aware of any circumstance or situation, which exists or may be reasonably
anticipated, that could impair or impact their ability to discharge their duties as Independent
Directors of the Company.

d) They have complied with the Code of Conduct for Independent Directors prescribed in
Schedule IV of the Act.

9. STATEMENT 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 hold the highest standard of integrity and
possess the requisite qualifications, experience, expertise and proficiency.

10. PERFORMANCE EVALUATION

In pursuance of the provisions of the Act, the evaluation of performance of the Board as a whole,
Committees of the Board, Directors individually and Chairperson of the Company was carried out
for the financial year 2024-25. The performance of each Director has been evaluated by Nomination
and Remuneration Committee.

11. DIRECTOR''S APPOINTMENT AND REMUNERATION POLICY

In terms of provisions of Section 178 of the Companies Act, 2013, the Board has, on the
recommendation of the Nomination & Remuneration Committee, framed and adopted a policy for
selection and appointment of Directors, Key Managerial Personnel, Senior Management and their
remuneration. The said policy is available on the website of the Company at www.hiliks.com.

12. STATUTORY AUDITORS

M/s. A S K M & Co., Chartered Accountants (FRN: 012799S) was appointed as the Statutory
Auditor of the Company at 37^th Annual General Meeting (AGM) held on 30^th September, 2022 for
a period of five years to hold office from the conclusion of 37^th AGM until the conclusion of the
42^nd AGM of the Company. The Auditors have confirmed that they are not disqualified from
continuing as Auditors of the Company.

The Auditors'' Report does not contain any qualification, reservation or adverse remark and do not
call for any further explanation/ clarification by the Board of Directors as provided under Section
134 of the Act.

13. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION
(12) OF SECTION 143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE
CENTRAL GOVERNMENT

There were no frauds reported by Auditors under sub-section (12) of Section 143 which have
occurred during the financial year 2024-25.

14. SECRETARIAL AUDITOR

M/s. Jain Alok & Associates, Practicing Company Secretaries conducted the Secretarial Audit for
the financial year 2024-25. The Secretarial Audit Report for the financial year ended 31^st March,
2025 is annexed herewith as Annexure-A which forms a part of this Report.

The Secretarial Audit Report for the financial year ended 31^st March, 2025 contains certain
observations and qualifications. The observations, qualifications and clarification by the Board are
as follows:

Observation 1: The Company has made the delayed payment of Annual Listing Fees to BSE
Limited and MSEI Limited for the financial year 2024-25.

Clarification: It was inadvertently delayed. The Company will comply the same in future in timely
manner.

Observation 2: The Company has made the delay of 2 days in submission of Shareholding Pattern
to BSE Limited and Metropolitan Stock Exchange of India Limited (MSEI) for the quarter ended
31st March, 2024 as required under Regulation 31 of the SEBI (LODR) Regulations, 2015.
Accordingly, the Company has paid SOP fine of Rs. 2,360/- to BSE Limited and MSEI on 28^th May,
2024 under Regulation 31 of the SEBI (LODR) Regulations, 2015 for March, 2024 quarter;

Clarification: Due to payment reconciliation issues with Central Depository Services (India)
Limited (CDSL), the Benpos of equity shares as on 31^st March 2024 was temporarily blocked by the
CDSL and subsequently released on 22^nd April 2024. As a result, the Shareholding Pattern for the
quarter ended 31^st March 2024, as required under Regulation 31 of SEBI (LODR) Regulations, 2015,

was filed on 23^rd April 2024, with a delay of 2 days.

Observation 3: The Company has published the approved financial results for the quarter ended
31st March, 2024 in both English and vernacular language newspapers with a delay of 3 days and
4 days respectively in violation of Regulation 47 of the SEBI (LODR) Regulations, 2015

Clarification: It was inadvertently delayed. The Company will comply the same in future in timely
manner.

Observation 4: The Company was required to publish the notice of postal ballot in Marathi
newspaper in Marathi Language as per Regulation 47 of the SEBI (LODR) Regulations, 2015.
However, it was published English Language.

Clarification: The Company acknowledges the discrepancy and ensures proper compliance of the
requirements in future.

Observation 5: The Company has made the delayed submission of SDD compliance certificate to
BSE Limited and MSEI for the quarter ended 31st March, 2024 as required under Regulation 3 of
the SEBI (PIT) Regulations, 2015 and BSE Circular No. 20230329-21 dated 29th March, 2023.

Clarification: It was inadvertently delayed. The Company will comply the same in future in timely
manner.

Observation 6: The Company did not have the minimum required independent directors till 12^th
December, 2024 as required under the provisions of Section 149(4) of the Companies Act, 2013;

Clarification: The Company had made continuous efforts to identify a suitable candidate to fill the
vacancy of Independent Director. Once the appropriate candidate was identified by the
management, the appointment was made effective from 13^th December, 2024, thereby complying
the provisions of Section 149(4) of the Companies Act, 2013.

Observation 7: The composition of Audit Committee and Nomination and Remuneration
Committee were not as per the provisions of Section 177 and 178 of the Companies Act, 2013
respectively till 12^th December, 2024

Clarification: The Company had tried to find Independent Director to fill the casual vacancy,
however could not find a suitable person. Once the appropriate candidate was identified by the
management, the appointment was made effective from 13^th December, 2024 and the provisions of
Section 177 and 178 of the Companies Act, 2013 has been duly complied with.

Observation 8: The Company did not have the Chief Financial Officer (CFO) as required under
Section 203 of the Companies Act, 2013 during the period under review

Clarification: The Company had tried to find Chief Financial Officer to fill the casual vacancy, but
a suitable candidate could not be identified. However, the said vacancy has since been duly filled
with effect from 29th May, 2025.

Observation 9: Pursuant to the provisions of Section 149(1) of the Companies Act, 2013, there was
a causal vacancy in the office of women director from 13th December, 2024 till 10th August, 2025

Clarification: The Company had tried to find the suitable person to fill the casual vacancy and the
same has been filled on 11^th August, 2025.

Observation 10: During the financial year 2024-25, the Company has filed all the ROC forms within

time, except the forms listed in Annexure-2 of this report

Clarification: It was inadvertently missed and delayed. The Company will comply the same in
future in timely manner.

The management of the Company assure you to comply all the provisions of the applicable law in
true spirit in future and is under process of making all the default good.

15. INTERNAL AUDITOR

The Board of Directors of the Company had appointed M/ s. Rangana Siva & Associates as an
Internal Auditor of the Company for the financial year 2024-25 to conduct the Internal Audit for
ensuring the orderly and efficient conduct of its business under the provisions of Companies Act,
2013 and rules made thereunder. The scope, functioning, periodicity and methodology for
conducting internal audit were approved by the board of directors.

The report of the Internal Auditor has been considered by the Board of Directors of the Company
for the financial year 2024-25.

16. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT U/S 186 OF THE
COMPANIES ACT, 2013

The details of the loan given by the Company covered under the provisions of Section 186 of the
Companies Act, 2013 are given in the notes to the financial statements. Further, the Company has
not made any investment or given any guarantee during the financial year.

17. PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTIES U/S
188(1) OF THE COMPANIES ACT, 2013

The Company did not enter into a contract or transaction which would fall under the purview of
Section 188 of the Companies Act, 2013. Further, the Company had not entered into any contract
/ arrangement / transaction with related parties which could be considered material and which is
required to be reported in Form No. AOC-2 in terms of Section 134(3)(h) read with Section 188 of
the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014. Therefore, Form AOC-2 is not
applicable.

18. COMPANIES WHICH HAVE BECOME OR CEASED TO BE SUBSIDIARIES, JOINT
VENTURES OR ASSOCIATES FOR THE COMPANY

The Company did not have any Subsidiary, Joint Venture, or Associate Company during the
financial year. Further, post closure of the financial year and up to the date of this report, the
Company has the following subsidiaries:

i. Hiliks Technologies Inc.

ii. Hiliks Greens Private Limited

The Companies are yet to commence its operations.

19. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL
POSITION OF THE COMPANY

There has been no material change or commitment, affecting the financial position of the Company
which have occurred between March 31, 2025 and the date of this report.

20. COMPOSITION OF COMMITTEES OF BOARD AS ON 31.03.2025

A) The composition of Audit Committee of the Company is as follows:

S. No.	Name of Member	Designation
1.	Mr. Veera Venkata Ramana Varma Mudunuri	Chairman
2.	Mr. Nagavenkata Padma Bhaskar Vedanabhatla	Member
3.	Mr. Sandeep Copparapu	.Member

B) The composition of Nomination & Remuneration Committee of the Company is as follows:

S. No.	Name of Member	Designation
1.	Mr. Nagavenkata Padma Bhaskar Vedanabhatla	Chairman
2.	Mr. Rajeev Ramchandra Padhye	Member*
3.	Mr. Sandeep Copparapu	Member

C) The composition of Stakeholder Grievance Committee of the Company is as follow:

S. No.	Name of Member	Designation
1.	Mr. Nagavenkata Padma ^Bhaskar Vedanabhatla	Chairman _
2.	Mr. Rajeev Ramchandra Padhye	,Member* ......
3.	Mr. Sandeep Copparapu	Member

*Mr. Rajeev Ramchandra Padhye has rsigned from the Board w.e.f. 28^th April, 2025.

21. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS

There was no such order passed by the Regulators or Courts against the Company during the
financial year which would impact the going concern status of the Company and its future
operations.

22. PARTICULARS OF EMPLOYEES

Information pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is available at
the registered office of the Company. The members may obtain the same.

23. DISCLOSURE UNDER RULE 5 (2) & (3) OF THE COMPANIES (APPOINTMENT AND
REMUNERATION OF MANGERIAL PERSONNEL) RULES, 2014

No directors/employees of the Company was in receipt of amount exceeding a salary of Rs.
8,50,000/-per month or more when employed for a part of the year or Rs. 1,02,00,000/- per annum
or more when employed for whole of the year, under the provisions of Rule 5(2) & (3) of The
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

24. BUSINESS RISK MANAGEMENT

The prospects for the Company''s business are dependent upon economic and industrial growth
as well as resources available for implementation of liberalization policies of the Government.

Adverse changes and delays of lack of funds can affect the business prospects of the Industry and
the Company.

Risk Management is an integral part of the Company''s business strategy. The Risk Management
oversight structure includes Committees of the Board and Senior Management Committees. The
Risk Management Committee of the Board ("RMC") reviews compliance with risk policies,
monitors risk tolerance limits, reviews and analyses risk exposure related to specific issues and
provides oversight of risk across the organization. The RMC nurtures a healthy and independent
risk management function to inculcate a strong risk management culture in the Company.

As part of the Risk Management framework, the management of Credit Risk, Market Risk,
Operational Risk and Fraud Risk are placed under the Head-Risk, to ensure Integrated Risk
Management for various Risks.

25. INTERNAL CONTROL SYSTEMS

The Company''s internal control system is designed to ensure operational efficiency, protection and
conservation of resources, accuracy and promptness in financial reporting and compliance with
laws and regulations. The internal control system is supported by an internal audit process for
reviewing the adequacy and efficacy of the Company''s internal controls, including its systems and
processes and compliance with regulations and procedures.

Internal Audit Reports are discussed with the Management and are reviewed by the Audit
Committee of the Board which also reviews the adequacy and effectiveness of the internal controls
in the Company. The Company''s internal control system is commensurate with the size, nature
and operations of the Company.

26. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has vigil mechanism during the financial year 2023-24. The Board of Directors are
under discussion to derive a mechanism through which fraud risk, including corrective and
remedial actions as regards people and processes can be determined and implemented.

27. HUMAN RESOURCES

The Company recognizes people as its most valuable asset and it has built an open, transparent
and meritocratic culture to nurture this asset. The Company has kept a sharp focus on Employee
Engagement. The Company''s Human Resources is commensurate with the size, nature and
operations of the Company.

28. CORPORATE SOCIAL RESPONSIBILITY

The provisions of Section 135 of the Companies Act, 2013 was not applicable to the Company
during the financial year 2024-25.

29. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company is fully compliant with all applicable Secretarial Standards issued by the Institute of
Company Secretaries of India (ICSI).

30. DEPOSITS

The Company has neither invited nor accepted any deposits from the public during the year.
There is no unclaimed or unpaid deposit lying with the Company.

31. ANNUAL RETURN

The Annual Return of the Company for the financial year 2024-25 shall be placed at its website:
www.hiliks.com.

32. LISTING OF SHARES

The equity shares of the Company are listed on BSE Limited and Metropolitan Stock Exchange of
India Ltd.

33. DEMATERIALIZATION OF SHARES

As on 31^st March, 2025, a total of 83,00,730 equity shares representing 94.11% of the equity share
capital have been dematerialized.

34. CORPORATE GOVERNANCE

Corporate Governance provisions i.e. Regulation 17 to 27 and clause (b) to (i) of sub-regulation (2)
of Regulation 46 and Para C to E of Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015 are not applicable to the Companies having paid up equity share
capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crores as on the last day of
the previous financial year. The Company''s paid up equity share capital as on 31^st March, 2025
was Rs. 8.82 crores which is less than Rs. 10 crores and the Net worth was Rs. 20.45 crores which
is less than Rs. 25 crores.

35. REPORT UNDER THE PREVENTION OF SEXUAL HARASSMENT ACT, 2013

The Company has zero tolerance for sexual harassment at workplace. The Company has in place
a Prevention of Sexual Harassment Policy in line with the requirements of the Sexual Harassment
of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules
thereunder for prevention and redressal of complaints of sexual harassments at workplace.

A Complaints Committee has been set up to redress complaints received. There was no complaint
received from any employee during the financial year 2024-25 and hence no complaint is
outstanding as on March 31, 2025 for redressal.

36. COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all
applicable amendments and rules framed thereunder. The Company is committed to ensuring a
safe, inclusive, and supportive workplace for women employees. All eligible women employees
are provided with maternity benefits as prescribed under the Maternity Benefit Act, 1961,
including paid maternity leave, nursing breaks, and protection from dismissal during maternity
leave.

The Company also ensures that no discrimination is made in recruitment or service conditions on
the grounds of maternity. Necessary internal systems and HR policies are in place to uphold the
spirit and letter of the legislation.

37. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO

In view of the nature of the activities carried out by the Company, Section 134(3)(m) of the
Companies Act, 2013, read with Companies (Accounts) Rules, 2014:

(A) Conservation of Energy

i. Energy Conservation Measures Taken

Energy Conversation continues to receive major emphasis and is being systematically
mentioned and corrective measures are taken whenever required immediately.

ii. Additional investment, and proposals, if any, being implemented.

At present the company has no proposal to make any substantial investments for further reduction
of consumption of energy. However, regular up-gradation of facilities is being done as and when
required. The Company has been able to control its energy cost substantially.

Total Energy consumption & energy consumption per unit of Production are prescribed in form¬
A

S. No.	Particulars	31.03.2025	31.03.2024
1.	Power & Fuel Consumption in respect of Electricity, '' Power & Water amount	Nil	Nil

(B) Technology Absorption: The Company is carrying on Research and Development in a routine
manner along with its business activities. The initiatives taken by the Company have resulted in
lower cost of energy consumption. Company has already absorbed technology fully.

Research, Development and improvement of products are an in built and on-going activity within
the existing manufacturing operations of the Company. Expenditure on R&D is not separately
allocated and identified.

(C) Foreign Exchange Earnings & Outgo: The Company did not earn or spent any foreign
exchange during the year under review.

38. DIRECTORS RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations
obtained by them, your Directors make the following statements in terms of Section 134(3) (c) of
the Companies Act, 2013:

a) that in the preparation of the annual financial statements for the year ended March 31, 2025,
the applicable accounting standards have been followed along with proper explanation
relating to material departures, if any;

b) that accounting policies as mentioned in the Notes to the Financial Statements have been
selected and applied consistently and judgement and estimates have been made 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 of the Company for the year ended on that date;

c) that 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) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls were in place and that the financial controls were
adequate and were operating effectively.

f) that systems to ensure compliance with the provisions of all applicable laws were in place and
were adequate and operating effectively.

39. DETAILS OF THE LOAN RECEIVED BY THE COMPANY FROM ITS DIRECTOR OR
RELATIVE OF THE DIRECTOR

The Company has not received any amount by way of loan from its Director or relative of the
Director during the financial year 2024-25.

40. OTHERS

The Board of Directors state that no disclosures or reporting is required in respect of the following
items as there were no transactions on these items during the year under review:

a) The Company had not issued any equity shares with differential rights as to dividend or
voting or otherwise.

b) The Company had not issued any shares (including sweat equity shares) to employees of
the Company under any scheme.

c) Details of application made or any proceeding pending under the Insolvency and
Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end
of the financial year- There is no such proceedings.

d) The details of the difference between the amount of the valuation done at the time of one
time settlement and the valuation done while taking loan from the Banks or Financial
Institutions along with the reasons-Not Applicable.

41. ACKNOWLEDGMENT

The Directors gratefully acknowledge all stakeholders of the Company viz. financial institutions,
Government Authorities customers, members, dealers, vendors, banks and other business partners
for the excellent support received from them during the year. The Directors place on record their
sincere appreciation to all employees, executives, staff and workers of the Company for their
unstinted commitment and continued contribution to the Company.

By order of the Board

For Hiliks Technologies Limited

Sd/- Sd/-

Sandeep Copparapu Nagavenkata Padma Bhaskar Vedanabhatla

(Whole Time Director) (Director)

DIN: 08306534 DIN: 08105714

Place: Mumbai
Date: 11-08-2025

---

Mar 31, 2014

The Members

Anubhav Industrial Resources Limited

The Directors' present the Annual report on the business and operations of your Company for the year 2013-14.

FINANCIAL RESULTS AND FUTURE OUTLOOKS:

During the year under Report, the Company has earned a Profit of Rs. 32547/- for the year ended 31st March, 2014 as against loss of Rs. 22161/- in the previous year.

DIVIDEND:

In view of conserving the resources, your directors do not recommend any dividend for the financial year 2013-14

DIRECTORS:

MR. Ramesh Kumar Khetan, Director of the Company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment.

Mr. Ramesh Kumar Khetan who was been appointed as additional director in the board meeting dated June 24, 2014 has been regularized as director in the Annual General Meeting.

Mr. Vijay Pandere who was been appointed as additional director in the board meeting dated June 24, 2014 has been regularized as director in the Annual General Meeting.

Mr. Santosh Mohite who was been appointed as additional director in the board meeting dated October 15, 2013 has been regularize as director in the Annual General Meeting.

Mr. Vijay Garg and Ms. Rita Garg has been resigned from Board dated October 15, 2013 CORPORATE GOVERNANCE

The Company has vigorously striven to follow the best corporate governance practices aimed at building trust among the key stakeholders, shareholders, employees, customers, suppliers and other stakeholders on four key elements of corporate governance - transparency, fairness, disclosure and accountability

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report on the operations of the Company is provided in a separate section and forms part of this Report

PARTICULARS OF EMPLOYEES

No employee is covered under the Provisions of Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

The Company has not invited/accepted any deposits from the public during the financial year ended March 31,2014. There were no unclaimed or unpaid deposits as on March 31,2014.

INFORMATION UNDER SECTION 217 (1) (e) OF THE COMPANIES ACT, 1956

The particulars relating to conservation of energy and technology absorption required to be furnished pursuant to 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 pertaining to conservation of energy and technology absorption, are not applicable to the Company.

Foreign Exchange Earnings and Outgo:

(a) Activities relating to exports; : N.A. initiatives taken to increase exports development of new export markets for products and services and export plans

(b) Foreign Exchange Earned : Rs. Nil (Previous year : Rs. Nil)

(c) Foreign Exchange Used : Rs. Nil (Previous Year : Rs. Nil)

DIRECTORS' REPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956, as amended by the Companies (Amendment) Act, 2000, the Directors confirm that -

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed with proper explanations relating to material departures, if any.

(ii) appropriate accounting policies have been selected and applied consistently and the Directors 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 31st March, 2014 and of the Profits for the financial year from 1st April, 2013 to 31st March, 2014.

(iii) proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis.

AUDITORS AND AUDITORS' REPORT:

M/s. Shyam C. Agarwal & Co, Chartered Accountants, existing Auditors will retire at the conclusion of the ensuing Annual General Meeting. Pursuant to the provisions of Section 139 of the Companies Act, 2013 and Companies (Audit and Auditors) Rules, 2014 and have expressed their unwillingness to continue as the statutory auditor of the Company. The Board of Directors at their meeting held on September 4, 2014 had recommended M/s. Shyam C. Agarwal & Co., Chartered Accountant, Mumbai, as the statutory auditor of the Company.

M/s. Shyam C. Agarwal & Co.,, Chartered Accountants, Mumbai, are proposed to be appointed as Auditors, to hold office up-to the conclusion of the next Annual General Meeting.

Pursuant to the provisions of Companies (Audit and Auditors) Rules, 2014, M/s. Shyam C. Agarwal & Co.,, Chartered Accountants has certified that the following:

a. They are eligible for appointment and are not disqualified for appointment under the Companies Act, 2013, the Chartered Accountants Act, 1949 and rules/regulations made thereunder;

b. The proposed appointment is as per the term provided under the Companies Act, 2013;

c. The proposed appointment is within the limits laid down by or under the authority of the Companies Act, 2013;

d. There are no proceedings against the audit firm or any partner of the audit firm pending with respect to professional matters of conduct.

The Board of Directors recommends to the shareholders the appointment of M/s. Shyam C. Agarwal & Co.,, Chartered Accountants, as Auditors of the Company.

The observations and comments given in the report of the Auditors read together with notes to accounts are self explanatory and hence do not call for any further information and explanation under Section 217(3) of the Companies Act, 1956.

ACKNOWLEDGEMENTS

Your Board takes this opportunity to place on record its appreciation for the dedication and commitment of employees shown at all levels which have contributed to the success of your Company. Your Directors also express their gratitude for the valuable support and co-operation extended by various Governmental authorities, including Ministry of Information and Broadcasting, Department of Telecommunication, Ministry of Corporate Affairs, Stock Exchanges, Depositories and other stakeholders including banks, financial Institutions, viewers, vendors and service providers.

For & on behalf of the Board of Director

Date: 14/08/2014 Place: Chandigarh

Sd/- Sd/- Vidya Chalke Santosh Mohite Director Director DIN: 02903650 DIN: 02953365

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Mar 31, 2013

Dear Members,

Your Directors have pleasure in presenting to you the Twenty Eighth Annual Report together with the Audited Accounts of your Company for the year ended 31st March, 2013.

FINANCIAL RESULTS AND FUTURE OUTLOOKS

During the year under Report, the Company has earned a Profit of Rs 18,215/- for the year ended 31st March, 2013 as earned Profit of Rs. 7,540/- in the previous year.

DIVIDENDS

Your Director do not recommend any payment of dividend for the year ended 31st March, 2013.

DEPOSITS

The Company has not accepted any deposits to which the provisions of Section 58(A) of the Companies Act, 1956 are applicable.

PERSONNEL

The Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988. are not applicable. There was no employees covered by the provision of Section 217 (2-A) of the Companies Act, 1956.

DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and Articles of Association of the Company Mr. Lok Nath Aggarwal who retires by rotation and being eligible, offers himself for reappointment.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act. 1956 with respect to Directors' Responsibility Statement, it is hereby confirmed:

i. that in the preparation of the annual accounts for the financial year ended 31st March, 2013, the applicable accounting standards had been followed along with proper explanation relating to material departures ;

ii. that the Directors had 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 at the end of the financial year and of the profit or loss of the company for the year under review ;

iii. that the Directors had 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. that the Directors had prepared the accounts for the financial year ended 31st March, 2013 on a 'going concern' basis.

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

Particulars under the Companies (Disclosure of Particulars in the report of the Board of Directors Rules, 1988) or conservation of energy, technology, absorption, foreign exchanges earnings and outgo are not applicable, since there is no manufacturing process involved and there has been no Import/Export.

AUDITORS

The present auditors M/s. S.C. Dewan & Co., Chartered Accountants, Panchkula, will retire at the forthcoming Annual General Meeting. They have confirmed their eligibility for reappointment and the Board recommends their re-appointment at the forthcoming Annual General Meetings.

for and on behalf of the Board of Directors

(LOK NATH aGGARWAL) (VIJAY KUMAR GARG) DIRECTOR DIRECTOR PLACE : CHANDIGARH DATED : 30th May, 2013

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Mar 31, 2012

Dear Members,

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

FINANCIAL RESULTS AND FUTURE OUTLOOKS

During the year under Report, the Company has earned a Profit of Rs. 7,540/- for the year ended 31st March, 2012 as against loss of Rs. 41,387/- in the previous year.

DIVIDENDS

Your Director do not recommend any payment of dividend for the year ended 31st March, 2012.

DEPOSITS

The Company has not accepted any deposits to which the provisions of Section 58(A) of the Companies Act, 1956 are applicable.

PERSONNEL

The Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988, are not applicable. There was no employees covered by the provision of Section 217 (2-A) of the Companies Act, 1956.

DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and Articles of Association of the Company Mr. Vijay Kumar Garg who retires by rotation and being eligible, offers himself for reappointment.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statement, it is hereby confirmed:

i. that in the preparation of the annual accounts for the financial year ended 31st March, 2012, the applicable accounting standards had been followed along with proper explanation relating to material departures ; '

ii. that the Directors had 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 at the end of the financial year and of the profit or loss of the company for the year under review ;

iii. that the Directors had 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. that the Directors had prepared the accounts for the financial year ended 31st March, 2012 on a 'going concern' basis.

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

Particulars under the Companies (Disclosure of Particulars in the report of the Board of Directors Rules, 1988) or conservation of energy, technology, absorption, foreign exchanges earnings and outgo are not applicable, since there is no manufacturing process involved and there has been no Import/Export.

AUDITORS

The present auditors M/s. S.C. Dewan & Co., Chartered Accountants, Panchkula, will retire at the forthcoming Annual General Meeting. They have confirmed their eligibility for reappointment and the Board recommends their re-appointment at the forthcoming Annual General Meetings.

For and on behalf of the Board of Directors

(LOK NATHAGGARWAL) (VIJAY KUMAR GARG) DIRECTOR DIRECTOR PLACE : CHANDIGARH DATED : 2nd July, 2012

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Mar 31, 2011

Dear Members,

The Directors have pleasure in presenting to you the Twenty Sixth Annual R®Port to9ether with the Audited Accounts of your Company for the year ended 31 st March, 2011.

FINANCIAL RESULTS AND FUTURE OUTLOOKS

During the year under Report, the Company has incurred a loss of Rs. 41,387/- for the year ended 31st March, 2011 as against loss of Rs. 36,983/- in the previous year.

DIVIDENDS

Your Director do not recommend any payment of dividend for the year ended 31 March, 2011.

DEPOSITS

The Company has not accepted any deposits to which the provisions of Section 58(A) of the Companies Act, 1956 are applicable.

PERSONNEL

The Companies (Disclosure of Particulars in the Report of Board of Directors) Rule, 1988, are not applicable. There was no employees covered by the provision of Section 217 (2-A) of the Companies Act, 1956.

DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and Articles of Association of the Company Mrs. Rita Garg, Director retires by rotation and being eligible offer herself for re-appointment.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statement, it is hereby confirmed:

i. that in the preparation of the annual accounts for the financial year ended 31st March, 2011, the applicable accounting standards had been followed along with proper explanation relating to material departures ;

ii. that the Directors had 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 at the end of the financial year and of the profit or loss of the company for the year under review;

iii. that the Directors had 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. that the Directors had prepared the accounts for the financial year ended 31st March, 2011 on a 'going concern' basis.

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

Particulars under the Companies (Disclosure of Particulars in the report of the Board of Directors Rules, 1988) or conservation of energy, technology, absorption, foreign exchanges earnings and outgo are not applicable, since there is no manufacturing process involved and there has been no Import/Export.

AUDITORS

The present auditors M/s. S.C. Dewan & Co., Chartered Accountants, Panchkula, will retire at the forthcoming Annual General Meeting. They have confirmed their eligibility for reappointment and the Board recommends their re-appointment at the forthcoming Annual General Meetings.

For and on behalf of the Board of Directors

(LOK NATHAGGARWAL) (VIJAY KUMAR GARG) DIRECTOR DIRECTOR

PLACE : CHANDIGARH DATED : 12th July, 2011