Directors Report of Iconik Sports and Events Ltd.

Mar 31, 2025

The Directors have pleasure in presenting the Boards’ Report of the Company for FY 2024-25 together with
the Audited Statements of Accounts for the year ended 31^st March, 2025.

1. FINANCIAL SUMMARY/HIGHLIGHTS:

The performance during the period ended 31^st March, 2025 has been as under:

Particular
	2024-25	2023-24
Revenue from operations	1271.19	2.70
Other income	0.00	0.07
Profit/loss before Depreciation, Finance Costs,	1,260.39	(0.02)
Less: Depreciation/ Amortisation/ Impairment	0.19	0.30
Profit /loss before Finance Costs, Exceptional items and Tax Expense	347.57	(6.44)
Less: Finance Costs	-	-
Share of loss of an Associate	-	-
Profit /loss before Exceptional items and Tax Expense	347.57	(6.44)
Add/(less): Exceptional items	-	-
Profit /loss before Tax Expense	347.57	(6.44)
Less: Tax Expense (Current & Deferred)	87.35	-
Profit /loss for the year (1)	260.22	(6.44)
Total Comprehensive Income/loss (2)	-	-
Total (1 2)	260.22	(6.44)
Balance of profit /loss for earlier years	260.22	(6.44)
Less: Transfer to Reserves	--	--
Less: Dividend paid on Equity Shares	--	--

2. REVIEW OF OPERATIONS:

The total revenue of the Company for the financial year 2024-25 was Rs. 1271.19 lakhs as against Rs. 2.77
Lakhs for the previous financial year. The Company recorded a net profit of Rs. 260.22 Lakhs for the financial
year 2024-25 as against the net loss after tax of Rs. 6.44 lakhs for the previous year.

3. DIVIDEND:

Considering the overall business requirements, your directors have not recommended dividend for the
Financial Year 2024-25. The management believes that conserving financial resources will enhance the ability
to take advantage of lucrative business opportunities.

4. BUSINESS UPDATE AND STATE OF COMPANY’S AFFAIRS:

The information on Company’s affairs and related aspects is provided under Management Discussion and
Analysis report, which has been prepared, inter-alia, in compliance with Regulation 34 of SEBI (Listing
Obligations and Disclosure Requirements) regulations, 2015 and forms part of this Report.

5. RESERVES:

Pursuant to provisions of Section 134 (3) (j) of the Companies Act, 2013, the company has not transferred any
amount to general reserves account of the company during the year under review.

The Closing balance of reserves, including retained earnings, of the Company as at March 31^st 2025 is
Rs.1733.62 Lakhs.

6. CHANGE IN THE NATURE OF BUSINESS, IF ANY:

During the period under review and up to the date of Board’s Report there was change in the nature of Business.
The Company has expanded its business to include sports-related activities.

7. MATERIAL CHANGES AND COMMITMENTS:

There are no material changes and commitments affecting financial position of the Company between 31^st
March 2025 and the date of Board’s Report. (i.e., 04.08.2025) except as mentioned below

a. Allotment of 1,41,85,000 equity shares of Rs. 10/- each at an issue price of Rs. 20/- each (including a
premium of Rs. 20/- each) to promoters and non-promoters on preferential basis. This has resulted in
increase in paid-up capital of the Company from 19,65,70,000/- to Rs. 33,84,20,000/-.

b. The Company has entered into a License agreement with World Tennis Company DWC-LLC (WTL).
Under the Agreement, WTL grants the Company a license to conduct, organize and operate an international
Tennis League in India, including all matches, player auctions, ceremonies, and events. The League will
feature multiple teams owned by franchises and may include both Indian and international players, as
determined by WTL.

c. The Company has entered into a Memorandum of Understanding with GAME CHANGERS FZCO, a free
zone company registered under the Dubai Integrated Economic Zones Authority (DIEZA), United Arab
Emirates. Under the MoU, the Parties entered into a mutually beneficial arrangement pursuant to which
ICONIK SPORTS shall promote the ‘South Africa Champions’ team (“Team”) during the Season 3 of the
League, and GAME CHANGERS shall promote ICONIK SPORTS and the League during the 2025 season
of World Championship of Legends (“WCL”).

8. REVISION OF FINANCIAL STATEMENTS:

There was no revision of the financial statements for the year under review.

9. MAINTENANCE OF COST AUDIT:

Maintenance of cost records is not required for the company pursuant to sub-section (1) of section 148 of the
Companies Act, 2013, such accounts and records are not being maintained.

10. AUTHORISED AND PAID-UP CAPITAL OF THE COMPANY AND CHANGES THEREON:

As on 31.03.2025, the Authorized Share Capital of the Company stands at Rs. 36,00,00,000/- (Rupees Thirty-
Six Crores only) divided into 3,60,00,000 (Three Crore Sixty Lakhs only) equity shares of face value Rs. 10/-
(Rupees Ten Only) each and the Paid-up Share Capital of the Company stands at Rs. 19,65,70,000/- (Rupees
Nineteen Crores Sixty-five Lakhs Seventy thousand only) divided into 1,96,57,000 (One Crore Ninety-Six
Lakhs Fifty-seven thousand only) equity shares of face value Rs. 10/- (Rupees Ten Only) each

The following changes in Authorised and Paid-up share capital during the year and subsequent to the year are
as follows:

S. No.	Date	Particulars of changes
1	14.12.2024	Increase in Authorised Share Capital from Rs. 1,25,00,000/- to Rs 25,00,00,000/-
2	18.01.2025	Allotment of 1,82,69,000 equity shares and increase in paid up capital from Rs. 1,25,00,000/- to Rs. 19,51,90,000/-
3	25.01.2025	Allotment of 1,38,000 equity shares and increase in paid up capital from Rs. 19,51,90,000/- to Rs. 19,65,70,000/-
4	21.03.2025	Increase in Authorised Share Capital from 25,00,00,000/-to Rs 36,00,00,000/-
5	30.04.2025	Allotment of 1,41,85,000 equity shares and increase in paid up capital from Rs. 19,65,70,000/-to Rs. 33,84,20,000/-

Subsequent to the said increase in Paid up capital pursuant to pref allotments, as on date the Paid-up Share
Capital of the Company stands at Rs. 33,84,20,000/- divided into 3,38,42,000 equity shares of face value Rs.
10/- (Rupees Ten Only) each

11. INVESTOR EDUCTION AND PROTECTION FUND (IEPF):

Pursuant to the provisions of Section 124 of the Act, Investor Education and Protection Fund Authority
(Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”) read with the relevant circulars and
amendments thereto, the amount of dividend remaining unpaid or unclaimed for a period of seven years from
the due date is required to be transferred to the Investor Education and Protection Fund (“IEPF”), constituted
by the Central Government.

During the Year, no amount of dividend was unpaid or unclaimed for a period of seven years and therefore no
amount is required to be transferred to Investor Education and Provident Fund under the Section 125(1) and
Section 125(2) of the Act.

12. RISK MANAGEMENT POLICY:

Your Company follows a comprehensive system of Risk Management. Your Company has adopted a
procedure for assessment and minimization of probable risks. It ensures that all the risks are timely defined
and mitigated in accordance with the well-structured risk management process.

13. APPOINTMENT / RE-APPOINTMENT / RESIGNATION / RETIREMENT OF DIRECTORS /CEO/
CFO AND KEY MANANGERIAL PERSONNEL

As on date of this report, the Company has 4 Directors, out of which two are Independent and one executive
and one non-executive Director.

a) Appointment/Re-appointment/Resignation of Directors/KMP of the Company

• Mrs. Chitrapavai Kannan, Non-Executive Director of the Company, resigned with effect from
29.05.2025.

• Mr. Pravin Vallabhdas Rajdev, Non-Executive Independent Director of the Company, resigned with
effect from 29.05.2025.

• Mr. Himanshu Lohiya, Non-Executive Independent Director of the Company, resigned with effect
from 29.05.2025.

The Board places on record its appreciation towards valuable contribution made by them during their
tenure as Directors of the Company.

• Mr. Kannan Krishnan Naiker was re-appointed as Managing Director of the Company with effect
from 02.09.2024.

• Ms. Sivani Kannan Naiker was appointed as an additional (category - Non-Executive) Director of the
Company with effect from 29.05.2025.

• Mr. Cholapadi Ramanujam Rajkanth was appointed as an additional (category - Non-Executive
Independent) Director of the Company with effect from 29.05.2025.

• Mr. Murli Venkataraman was appointed as an additional (category - Non-Executive Independent)
Director of the Company with effect from 29.05.2025.

In compliance with Sec. 134 of Companies Act, 2013 read with Rule 8 (5)(iii)(a) of Companies
(Accounts) Rules, 2014, the Board has found above mentioned persons to be proficient enough to be
on the Board of the company and trust their integrity, expertise and experience as member of the Board
would be of value to the company.

b) Key Managerial Personnel:

• Mr. Shishir Asharam Pasi was appointed as a Chief Executive Officer of the Company with effect
from 14.11.2024.

• Mr. Mohammed Fehzan Chiipa, Company Secretary and Compliance Officer of the Company
resigned with effect from 02.01.2025.

• Ms. Prachi Karwa was appointed as a Company Secretary and Compliance Officer of the Company
with effect from 02.01.2025.

Following signatories were Key Managerial Personnel during the financial year 2024-25:

• Mr. Kannan Krishnan Naiker, Managing Director of the company.

• Mr. Abhishek Sushil Morarka, CFO of the Company

• Mr. Sishir Asharam Pasi, CEO of the company (Appointed w.e.f. 14.11.2024)

• Mr. Mohammed Fehzan Chiipa, Company Secretary and Compliance Officer of the company
(Resigned w.e.f. 02.01.2025)

• Ms. Prachi Karwa, Company Secretary and Compliance Officer of the company (Appointed w.e.f.
02.01.2025)

14. DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS

The Company has received declarations from all the Independent directors of the company to the effect that
they are meeting the criteria of independence as provided in Sub-section (6) of Section 149 of the Companies
Act, 2013 and under regulation 16(1)(b) read with regulation 25 of SEBI (Listing Obligations and Disclosure
Requirement) Regulations, 2015.

The Independent Directors have also confirmed that they have complied with Company’s Code of Conduct.
In terms of Regulations 25(8) of the Listing Regulations, the Independent Directors have confirmed that they
are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could
impair or impact their ability to discharge their duties with an objective independent judgement and without
any external influence.

During the year, Independent Directors of the Company had no pecuniary relationship or transactions with the
Company, other than sitting fees, commission and reimbursement of expenses incurred by them for the purpose
of attending meetings of the Board of Directors and Committee(s).

15. BOARD MEETINGS:

The Board of Directors duly met ten (10) times during the year on 09.05.2024, 06.08.2024, 02.09.2024,
13.11.2024, 02.01.2025, 18.01.2025, 25.01.2025, 13.02.2025, 22.02.2025 and 06.03.2025 and in respect of
which meetings, proper notices were given and the proceedings were properly recorded and signed in the
Minutes Book maintained for the purpose.

16. BOARD EVALUATION:

The Board of Directors has carried out an annual evaluation of its own performance, board committees, and
individual directors pursuant to the provisions of the Companies Act, 2013 and SEBI Listing Regulations.

The performance of the board was evaluated by the board after seeking inputs from all the directors on the
basis of criteria such as the board composition and structure, effectiveness of board processes, information and
functioning, etc.

The performance of the committees was evaluated by the board after seeking inputs from the committee
members on the basis of criteria such as the composition of committees, effectiveness of committee meetings,
etc.

The above criteria are based on the Guidance Note on Board Evaluation issued by the Securities and Exchange
Board of India on January 5, 2017.

In a separate meeting of independent directors was conducted on 13.02.2025 to evaluate the performance of
non-independent directors, the board as a whole and the Chairman of the Company, taking into account the
views of executive directors and non-executive directors.

The Board reviewed the performance of individual directors on the basis of criteria such as the contribution of
the individual director to the board and committee meetings like preparedness on the issues to be discussed,
meaningful and constructive contribution and inputs in meetings, etc.

Performance evaluation of independent directors was done by the entire board, excluding the independent
director being evaluated.

17. STATEMENT SHOWING THE NAMES OF THE TOP TEN EMPLOYEES IN TERMS OF
REMUNERATION DRAWN AND THE NAME OF EVERY EMPLOYEE AS PER RULE 5(2) & (3)
OF THE COMPANIES (APPOINTMENT & REMUNERATION) RULES, 2014:

A table containing the particulars in accordance with the provisions of Section 197(12) of the Act, read with
Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is
appended as Annexure-1 to this Report.

A statement showing the names of the top ten employees in terms of remuneration drawn and the name of
every employee is annexed to this Annual report as Annexure 2

During the year, NONE of the employees (excluding Executive Directors) has drawn a remuneration of
Rs. 1,02,00,000/- and above per annum or Rs.8,50,000/- and above in aggregate per month, the limits specified
under the Section 197(12) of the Companies Act,2013 read with Rules 5(2) and 5(3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.

18. DIRECTOR’S RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge
and ability, confirm that:

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

b) The Directors had selected such accounting policies and applied them consistently and made judgments
and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the
company at the end of the financial year and of the profit and loss of the company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the company and for preventing
and detecting fraud and other irregularities;

d) The Directors had prepared the annual accounts on a going concern basis; and

e) The Directors had laid down internal financial controls to be followed by the company and that such internal
financial controls are adequate and were operating effectively.

f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws
and that such systems were adequate and operating effectively.

19. DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

Your Company has well established procedures for internal control across its various locations, commensurate
with its size and operations. The organization is adequately staffed with qualified and experienced personnel
for implementing and monitoring the internal control environment.

The internal audit function is adequately resourced commensurate with the operations of the Company and
reports to the Audit Committee of the Board.

20. NO FRAUDS REPORTED BY STATUTORY AUDITORS

During the Financial Year 2024-25, the Auditors have not reported any matter under section 143(12) of the
Companies Act, 2013, therefore no detail is required to be disclosed under section 134(3) (ca) of the
Companies Act, 2013.

21. CEO/ CFO CERTIFICATION:

The Chief Executive Officer and Chief Financial Officer Certification on the financial statements under
Regulation 17 (8) of SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015 for the year
2024-2025 is given as Annexure-7 in this Annual Report.

22. INFORMATION ABOUT THE FINANCIAL PERFORMANCE / FINANCIAL POSITION OF THE
SUBSIDIARIES / ASSOCIATES/ JOINT VENTURES:

The Company does not have any Subsidiaries/Associates/Joint Ventures.

23. NAMES OF THE COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS
SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR.

The Company does not have any Subsidiaries/Associates/Joint Ventures.

24. CONSOLIDATED FINANCIAL STATEMENTS

The Company does not have any Subsidiaries/Associates/Joint Ventures.

25. DETAILS RELATING TO DEPOSITS:

The Company has not accepted any public deposits during the Financial Year ended March 31, 2025 and as
such, no amount of principal or interest on public deposits was outstanding as on the date of the balance sheet.

26. DETAILS OF DEPOSITS NOT IN COMPLIANCE WITH THE REQUIREMENTS OF THE ACT:

Since the Company has not accepted any deposits during the Financial Year ended March 31, 2025, there has
been no non-compliance with the requirements of the Act.

Pursuant to the Ministry of Corporate Affairs (MCA) notification dated 22nd January 2019 amending the
Companies (Acceptance of Deposits) Rules, 2014, the Company is required to file with the Registrar of
Companies (ROC) requisite returns in Form DPT-3 for outstanding receipt of money/loan by the Company,
which is not considered as deposits.

The Company complied with this requirement within the prescribed timelines.

27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The company has not given loans, Guarantees or made any investments during the year under review.

28. RELATED PARTY TRANSACTIONS:

All the related party transactions are entered on arm’s length basis, in the ordinary course of business and are
in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015. There are no materially significant related party transactions
made by the Company with Promoters, Directors, Key Managerial Personnel, etc. which may have potential
conflict with the interest of the Company at large or which warrants the approval of the shareholders.

Accordingly, no transactions are being reported in Form AOC-2 in terms of Section 134 of the Act read with
Rule 8 of the Companies (Accounts) Rules, 2014. However, the details of transactions with Related Parties
are provided in the Company’s financial statements in accordance with the Accounting Standards.

All related party transactions that were entered into during the financial year were on arm’s length basis and
were in the ordinary course of business. During the financial year 2024-25, there were no materially significant
related party transactions made by the Company with Promoters, Directors, Key Managerial Personnel or other
designated persons which may have a potential conflict with the interest of the Company at large.

In line with the provisions of Section 177 of the Act read with the Companies (Meetings of the Board and its
Powers) Rules, 2014, omnibus approval for the estimated value of transactions with the related parties for the
financial year is obtained from the Audit Committee. The transactions with the related parties are routine and
repetitive in nature

The summary statement of transactions entered into with the related parties pursuant to the omnibus approval
so granted are reviewed and approved by the Audit Committee and the Board of Directors on a quarterly basis.
The summary statements are supported by an independent audit report certifying that the transactions are at
an arm’s length basis and in the ordinary course of business

The Form AOC-2 pursuant to Section 134(3)(h) of the Companies Act, 2013 read with Rule 8(2) of the
Companies (Accounts) Rules, 2014 is annexed herewith as Annexure-3 to this report.

29. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
OUTGO:

The required information as per Sec.134 (3) (m) of the Companies Act 2013 is provided hereunder:

A. Conservation of Energy: Your Company’s operations are not energy intensive. Adequate measures have
been taken to conserve energy wherever possible by using energy efficient computers and purchase of energy
efficient equipment.

(i) the steps taken or impact on conservation of energy;

(ii) the steps taken by the company for utilising alternate sources of energy;

(iii) the capital investment on energy conservation equipments;

B. Technology Absorption: All the Factors mentioned in Rule 8 (3)(b) Technology absorption are not
applicable to the Company.

C. Foreign Exchange Earnings and Out Go:

Foreign Exchange Earnings: NIL
Foreign Exchange Outgo: NIL

30. COMMITTEES:

(I) . AUDIT COMMITTEE: The Audit Committee of the Company is constituted in line with the provisions
of Regulation 18(1) of SEBI (LODR) Regulations with the Stock Exchange(s) read with Section 177 of the
Companies Act, 2013 are included in the Corporate Governance report, which forms part of this report.

(II) . NOMINATION AND REMUNERATION COMMITTEE: The Nomination and Remuneration
Committee of the Company is constituted in line with the provisions of Regulation 19(1) of SEBI (LODR)
Regulations with the Stock Exchange(s) read with Section 178 of the Companies Act, 2013 are included in the
Corporate Governance report, which forms part of this report.

(III). STAKEHOLDERS RELATIONSHIP COMMITTEE: The Stakeholders Relationship Committee of
the Company is constituted in line with the provisions of Regulation 20 of SEBI (LODR) Regulations with
the Stock Exchange(s) read with Section 178 of the Companies Act, 2013 are included in the Corporate
Governance report, which forms part of this report.

31. CORPORATE SOCIAL RESPONSIBILITY (CSR, COMPOSITION OF CSR COMMITTEE AND
CONTENTS OF CSR POLICY)

The provisions of Corporate Social Responsibility u/s 135 of Companies Act, 2013 are not applicable to the
Company.

32. VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

The Board of Directors has formulated a Whistle Blower Policy which is in compliance with the provisions of
Section 177(10) of the Companies Act, 2013 and Regulation 22 of the Listing Regulations. The Company
promotes ethical behaviour and has put in place a mechanism for reporting illegal or unethical behaviour. The
Company has a Vigil Mechanism and Whistle-blower policy under which the employees are free to report
violations of applicable laws and regulations and the Code of Conduct. Employees may report their genuine
concerns to the Chairman of the Audit Committee. During the year under review, no employee was denied
access to the Audit Committee.

Vigil Mechanism Policy has been established by the Company for directors and employees to report genuine
concerns pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013. The same has been
placed on the website of the Company https://iconiksportsandevents.com/policies-and-codes .

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

There are no significant and material orders passed by the regulators /courts that would impact the going
concern status of the Company and its future operations.

34. STATUTORY AUDITORS AND THEIR REPORT THEREON:

At the Annual General Meeting held on 29.09.2021, the shareholders of the Company approved the
appointment of M/s. D G M S & Co, Chartered Accountants, Mumbai as Statutory Auditors of the company
for the term of 5 years from the financial year 2020 -2021 onwards on such terms and conditions and
remuneration as may be decided by the Board. M/s D G M S & Co. will continue as statutory auditors of the
company till the conclusion of Annual General Meeting to be held for the financial year 2025-2026.

The Auditors’ Report for fiscal 2025 does not contain any qualification, reservation or adverse remark. The
Auditors’ Report is enclosed with the financial statements in this Annual Report. The Company has received
audit report with unmodified opinion for both Standalone and Consolidated audited financial results of the
Company for the Financial Year ended March 31, 2025 from the statutory auditors of the Company.

The Auditors have confirmed that they have subjected themselves to the peer review process of Institute of
Chartered Accountants of India (ICAI) and hold valid certificate issued by the Peer Review Board of the ICAI.

35. SECRETARIAL AUDIT REPORT:

In terms of section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, based upon the recommendations of the Audit Committee, the Board
of Directors had appointed M/s. Vivek Surana & Associates, Practicing Company Secretaries (CP No. 12901)
as the Secretarial Auditor of the Company, for conducting the Secretarial Audit for financial year ended March
31, 2025.

The Secretarial Audit was carried out by M/s. Vivek Surana & Associates, Practicing Company Secretaries
(CP No. 12901) for the financial year ended March 31, 2025. The Report given by the Secretarial Auditor is
annexed herewith as Annexure-4 and forms integral part of this Report.

Observations in the Secretarial Audit Report:

It has been observed that 100% of the promoter shareholding is not is dematerialized form.

Management''s comment:

One of the shareholders belonging to the promoter group is in the process of dematerializing the shares.

M/s. Vivek Surana & Associates, Practicing Company Secretaries, was appointed as Secretarial auditors from
FY 2025-26 to 2029-30 in the Board meeting held on 29.05.2025, subject to the approval of the members in
the Annual General Meeting.

36. ANNUAL SECRETARIAL COMPLIANCE REPORT:

SEBI vide its Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019 read with Regulation 24(A) of
the Listing Regulations, directed listed entities to conduct Annual Secretarial compliance audit from a
Practicing Company Secretary of all applicable SEBI Regulations and circulars/guidelines issued thereunder.
Further, Secretarial Compliance Report dated 29.05.2025, given by M/s. Vivek Surana & Associates,
Practicing Company Secretary, submitted to Stock Exchange(s) within 60 days of the end of the financial year.

37. INTERNAL AUDITORS:

Pursuant to provisions of Section 138 read with Rule 13 of the Companies (Accounts) Rules, 2014 and Section
179 read with Rule 8(4) of the Companies (Meetings of Board and its Powers) Rules, 2014; during the year
under review the Internal Audit of the functions and activities of the Company was undertaken by the Internal
Auditor of the Company on a yearly basis by M/s. R Bangaruswamy & Co., the Internal Auditor of the
Company for FY 2024-25.

Deviations are reviewed periodically and due compliance ensured. Summary of Significant Audit
Observations along with recommendations and its implementations are reviewed by the Audit Committee and
concerns, if any, are reported to Board. There were no adverse remarks or qualification on accounts of the
Company from the Internal Auditor.

The Board has re-appointed by M/s R Bangaruswamy & Co, Chartered Accountants, Mumbai as Internal
Auditors for the Financial Year 2025-26.

38. SECRETARIAL STANDARDS

Pursuant to the provisions of Section 118 of the Companies Act, 2013, the Company has complied with the
applicable provisions of the Secretarial Standards issued by the Institute of Company Secretaries of India and
notified by Ministry of Corporate Affairs.

39. DECLARATION BY THE COMPANY

The Company has issued a certificate to its Directors, confirming that it has not made any default under Section
164(2) of the Act, as on March 31, 2025.

40. ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014, an annual return is uploaded on website of the Company
https://iconiksportsandevents.com/disclosures.

41. DISCLOSURE ABOUT COST AUDIT:

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1)
of the Act, are not applicable for the business activities carried out by the Company.

42. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Management discussion and analysis report for the year under review as stipulated under Regulation 34 (e)
read with schedule V, Part B of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015
with the stock exchange in India is annexed herewith as Annexure-5 to this report.

In terms of Regulations 25(8) of the Listing Regulations, the Independent Directors have confirmed that they
are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could
impair or impact their ability to discharge their duties with an objective independent judgement and without
any external influence.

During the year, Independent Directors of the Company had no pecuniary relationship or transactions with the
Company, other than sitting fees, for the purpose of attending meetings of the Board of Directors and
Committee(s).

43. FAMILIARISATION PROGRAMMES:

The Company familiarises its Independent Directors on their appointment as such on the Board with the
Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company
operates, etc. through familiarisation programme. The Company also conducts orientation programme upon
induction of new Directors, as well as other initiatives to update the Directors on a continuing basis. The
familiarisation programme for Independent Directors is disclosed on the Company’s website
https://iconiksportsandevents.com/disclosures.

44. INSURANCE:

The properties and assets of your Company are adequately insured.

45. CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:

The Company has implemented all of its major stipulations as applicable to the Company. As stipulated under
Regulation 34 read with schedule V of SEBI (LODR) Regulations, 2015, a report on Corporate Governance
duly audited is appended as Annexure-6 for information of the Members. A requisite certificate from the
Secretarial Auditors of the Company confirming compliance with the conditions of Corporate Governance is
attached to the Report on Corporate Governance.

46. NON-EXECUTIVE DIRECTORS’ COMPENSATION AND DISCLOSURES:

None of the Independent / Non-Executive Directors has any pecuniary relationship or transactions with the
Company which in the Judgment of the Board may affect the independence of the Directors.

47. COMPANY’S POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION INCLUDING
CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES,
INDEPENDENCE OF A DIRECTOR AND OTHER MATTERS PROVIDED UNDER SUB-SECTION
(3) OF SECTION 178:

The assessment and appointment of Members to the Board is based on a combination of criterion that includes
ethics, personal and professional stature, domain expertise, gender diversity and specific qualification required
for the position. The potential Board Member is also assessed on the basis of independence criteria defined in
Section 149(6) of the Companies Act, 2013 and Regulation 27 of SEBI (LODR) Regulations, 2015. In
accordance with Section 178(3) of the Companies Act, 2013 and Regulation 19(4) of SEBI (LODR)
Regulations, 2015, on the recommendations of the Nomination and Remuneration Committee, the Board
adopted a remuneration policy for Directors, Key Management Personnel (KMPs) and Senior Management.
The Policy is attached as part of Corporate Governance Report. We affirm that the remuneration paid to the
Directors is as per the terms laid down in the Nomination and Remuneration Policy of the Company.

48. CODE OF CONDUCT FOR THE PREVENTION OF INSIDER TRADING

The Board of Directors has adopted the Insider Trading Policy in accordance with the requirements of the
SEBI (Prohibition of Insider Trading) Regulation, 2015 and the applicable Securities laws. The Insider Trading
Policy of the Company lays down guidelines and procedures to be followed, and disclosures to be made while
dealing with shares of the Company, as well as the consequences of violation. The policy has been formulated
to regulate, monitor and ensure reporting of deals by employees and to maintain the highest ethical standards
of dealing in Company securities.

The Insider Trading Policy of the Company covering code of practices and procedures for fair disclosure of
unpublished price sensitive information and code of conduct for the prevention of insider trading, is available
on our website (https://iconiksportsandevents.com/policies-and-codes).

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

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual
Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013. Internal Committee
(IC) has not been constituted since there are less than 10 employees in the Company.

50. INDUSTRY BASED DISCLOSURES AS MANDATED BY THE RESPECTIVE LAWS GOVERNING
THE COMPANY:

The Company is not a NBFC, Housing Companies etc., and hence Industry based disclosures is not required.

51. FAILURE TO IMPLEMENT CORPORATE ACTIONS:

During the year under review, no corporate actions were done by the Company which were failed to be
implemented.

52. DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND
BANKRUPTCY CODE, 2016:

During the year under review, there were no applications made or proceedings pending in the name of the
Company under Insolvency and Bankruptcy Code, 2016.

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

During the year under review, there has been no one-time settlement of loans taken from banks and financial
institutions.

54. EMPLOYEE STOCK OPTION SCHEME:

During the year under review, your Company has not implemented any Employee Stock Option Scheme
during the financial year.

55. POLICIES:

The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandated the formulation of
certain policies for all listed companies. All the policies are available on our website.
https://iconiksportsandevents.com/policies-and-codes.

56. EVENT BASED DISCLOSURES

During the year under review, the Company has not taken up any of the following activities:

a) Issue of sweat equity share: NA

b) Issue of shares with differential rights: NA

c) Issue of shares (including sweat equity shares) to employees of the Company: NA

d) Disclosure on purchase by Company or giving of loans by it for purchase of its shares: NA

e) Buy back shares: NA

f) Disclosure about revision: NA

g) Preferential Allotment of Shares:

During the year under review, the company has approved the issue of 2,37,29,362 equity shares of
Rs. 10/- each at an issue price of Rs. 20/- (including premium of Rs. 10/-) to promoters and non-promoters
on preferential basis. The company received in-principle approval for the said issue from BSE Limited
on 10.01.2025. Pursuant to the approval, the Board, in its meeting held on 18.01.2025 and 25.01.2025
allotted 1,82,69,000 and 1,38,000 equity shares of Rs. 10/- each at an issue price of Rs. 20/- (including
premium of Rs. 10/-) respectively to promoters and non-promoters on preferential basis for cash
consideration.

Further, the company has approved the issue of 1,54,35,000 equity shares of Rs. 10/- each at an issue
price of Rs. 20/- (including premium of Rs. 10/-) to promoters and non-promoters on preferential basis.
The company received in-principle approvals for the said issue from BSE Limited on 17.04.2025.
Pursuant to the approval, the Board, in its meeting held on 30.04.2025 allotted 1,41,85,000 equity shares
of Rs. 10/- each at an issue price of Rs. 20/- (including premium of Rs. 10/-) respectively to promoters
and non-promoters on preferential basis for cash consideration.

57. CHANGE IN NAME OF THE COMPANY

During the year under review, there was no change in the name of your company. Subsequent to 31.03.2025,
the name of your company was changed from ID Info Business Services Limited to Iconik Sports and Events
Limited with effect from 15.04.2025.

58. CHANGE IN OBJECTS OF THE COMPANY

During the year under review, there was change in the objects of the company. The Shareholders in its Extra
Ordinary General meeting held on 14.12.2024, altered the objects of the company by adding new sub clauses
4 & 5 to existing clause III (A) of the Memorandum of Association of the Company. The Company’s additional
object includes to carry on the business of organizing, managing, promoting, and conducting sports leagues,
tournaments, and events across various sports disciplines, including but not limited to Padel, Tennis, Cricket
and other related activities.

59. CHANGE IN REGISTERED OFFICE OF THE COMPANY

During the year under review, the Board of Directors in its meeting held on 22.02.2025 has changed its
registered office from Unit No 103,104,1st Floor, Mahinder Chembers WT Patil Marg, Opp. Dukes Factory,
Chembur, Thane, Mumbai, Maharashtra, India, 400071 to Unit No. 104, 1st Floor, Mahinder Chambers, W.T.
Patil Marg, Chembur, Mumbai - 400071.

60. ACKNOWLEDGEMENTS:

Your directors place on record their appreciation for the overwhelming co-operation and assistance received
from the investors, customers, business associates, bankers, vendors, as well as regulatory and governmental
authorities. Your directors also thank the employees at all levels, who through their dedication, co-operation,
support and smart work have enabled the company to achieve a moderate growth and is determined to poise a
rapid and remarkable growth in the year to come.

Your Directors also wish to place on record their appreciation of business constituents, banks and other
financial institutions and shareholders of the Company, SEBI, BSE, NSDL, CDSL and Bankers for their
continued support for the growth of the Company.

For and on behalf of the Board
Iconik Sports and Events Limited
(formerly known as ID Info Business
Services Limited)

Place: Mumbai Kannan Krishnan Naiker Sivani Kannan Naiker

Date: 04.08.2025 Managing Director Director

DIN: 00014414 DIN: 10572891

---

Mar 31, 2024

Your Directors here by present the Annual Report together with the Audited statements of Accounts for the
financial year ended on 31st March 2024.

Financial Highlights:

(Rs. In Lakhs

Particulars	2023-24	2022-23
Total Income	2.70	18.92
Total expenditure	9.14	10.54
Profit / (Loss) before Taxation	(6.44)	8.38
Current tax	-	2.39
Other Comprehensive Income	-	-
Profit (Loss) for the period from continuing operations	(6.44)	5.99

DIVIDEND:

Considering the overall business requirements, your directors have not recommended dividend for the
Financial Year 2023-24. The management believes that conserving financial resources will enhance the ability
to take advantage of lucrative business opportunities.

TRANSFER TO RESERVES:

The Company has not transferred any amount to Reserves for the period under review.

CAPITAL STRUCTURE:

The issued, subscribed and paid up capital of the Company is Rs. 1,25,00,000/- divided into 12,50,000 equity
shares of Rs. 10/- each. There has been no change in the share capital of the Company during the year.

SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES:

The Company does not have any subsidiary, associate companies & joint ventures.

DEPOSIT:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013
and the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Particulars of loans given, investments made, guarantees given and securities provided as per Section 186
of the Companies Act, 2013 by the Company are disclosed in the financial statements of the company.

RELATED PARTY TRANSACTIONS:

All the related party transactions are entered on arm''s length basis, in the ordinary course of business and are
in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. There are no materially significant related party transactions
made by the Company with Promoters, Directors, Key Managerial Personnel, etc. which may have potential
conflict with the interest of the Company at large or which warrants the approval of the shareholders.
Accordingly, no transactions are being reported in Form AOC-2 in terms of Section 134 of the Act read with
Rule 8 of the Companies (Accounts) Rules, 2014. However, the details of transactions with Related Parties are
provided in the Company''s financial statements in accordance with the Accounting Standards.

MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

No material changes and commitments affecting the financial position of the company have occurred between
the end of financial year to which the financial statements relate and the date of the Directors'' Report.

SIGNIFICANT ORDERS PASSED BY THE REGULATORS, COURTS OR TRIBUNALS IMPACTING GOING CONCERN
AND COMPANY''S OPERATIONS:

To the best of our knowledge, the company has not received any such orders passed by the regulators, courts
or tribunals during the year, which may impact the going concern status or company''s operations in future.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Directors:

The Board of Directors consists of 4 members, out of which 2 are Independent Directors and 1 are Non¬
Executive and Non-Independent Directors and women director. The composition is in compliance with the
Companies Act, 2013 and Listing Regulation.

As per the provisions of Section 152(6) of the Companies Act, 2013 and the company''s Articles of Association,
Mr. Kannan Krishnan Naiker (DIN: 00014414) shall retire by rotation at the ensuing Annual General Meeting
and being eligible, has offered himself for re-appointment as the Director of the Company.

Mr. Kannan was appointed as Managing Director of the company. It is proposed to re-appoint him as
Managing Director for the term of 5 (five) years with effect from 2^nd September, 2024 to 1^st September 2029
by passing special resolution as set out in item No. 3 of the notice convening the AGM.

Key Managerial Personnel:

As per the provisions of Section 203 of the Companies Act, 2013, Mr. Abhishek Sushil Morarka, Chief Financial
Officer and Mr. Mohammed Chhipa, Company Secretary are the key managerial personnel of the Company.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from each Independent Director under Section 149 (7) of the
Companies Act, 2013, that they meet the criteria of independence laid down in Section 149(6) of the
Companies Act, 2013.

NUMBER OF MEETINGS OF THE BOARD:

The details of the number of meetings of the Board held during the Financial Year 2023-24 forms part of the
Corporate Governance Report.

COMMITTEES OF THE BOARD:

The Board of Directors has the following Committees and the details of the Committees along with their
composition, number of meetings and attendance at the meetings are provided in the Corporate Governance
Report.

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders'' Relationship Committee

BOARD EVALUATION:

Pursuant to the provisions of the Schedule IV, clause VIII of the Companies Act, 2013 the Board has carried out
an evaluation of its own performance, the directors individually as well as the evaluation of the working of its
Audit, Appointment & Remuneration Committees. The performance evaluations of Independent Directors
were also carried out and the same was noted. Independent Directors in their meeting decided to bring more
transparency in their performance and bring more responsibility while taking any policy decisions for the
benefit of the shareholders in general.

REMUNERATION OF THE DIRECTORS/ KEY MANAGERIAL PERSONNEL (KMP)/ EMPLOYEES:

The information required pursuant to Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and
5(3) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of
the employees of the Company, will be provided upon request. In terms of Section 136(1) of the Companies
Act, 2013, the Report and Accounts are being sent to the Members and others entitled thereto, excluding the
information on employees'' particulars which is available for inspection by the Members at the Registered
Office of the Company during business hours on working days of the Company up to the date of the ensuing
Annual General Meeting. If any Member is interested in obtaining a copy thereof, such Member may write to
the Company Secretary in this regard. Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 are given as separate annexure in the Board''s Report.

AUDITORS AND AUDITORS'' REPORT:

M/s. DGMS COMPANY, CHARTERED ACCOUNTANTS, Mumbai (Firm Reg. No. 0112187W), Statutory Auditors of
the Company appointed for period of 5 years and hold office until the conclusion of the Annual General
Meeting to be held in 2026.

The observations made by the Auditors'' in their Auditors'' Report and the Notes on Accounts referred to in the
Auditors'' Report are self-explanatory and do not call for any further comments.

COST AUDITOR AND COST AUDIT REPORT:

Cost Audit is not applicable to your Company.

SECRETARIAL AUDIT AND SECRETARIAL AUDITORS'' REPORT:

Pursuant to provisions of section 204 of the Companies Act, 2013 and The Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed Mrs. Shubham Agarwal Goyal
Practicing Company Secretary (Membership No. FCS 8192), Ahmedabad to undertake the Secretarial Audit of
the Company. The Secretarial Audit report in the prescribed Form No MR-3 is annexed herewith.

INTERNAL CONTROL SYSTEMS:

As there is no significant business activities hence there was no systems set up for Internal Controls.

EXTRACT OF ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3) (a) of the Companies Act 2013, the Annual Return as on
31st March 2024 is available on the website of the Company at http://www.idinfo.co.in/.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The Company has not developed and implemented any Corporate Social Responsibility initiative under the
provisions of Section 135 of the Companies Act, 2013, read with Rule 9 of Companies (Corporate Social
Responsibility Policy) Rules, 2014, as the said provisions are not applicable.

REPORT ON CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION & ANALYSIS:

Pursuant to Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 Company has taken adequate steps to ensure that all mandatory provisions
of Corporate Governance as prescribed under SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 are complied with, a separate section titled Report on Corporate Governance together with
a Certificate from the Practicing Company Secretary forms part of this Report. A detailed Management
Discussion & Analysis forms part of this Report.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013: The Company has zero tolerance for sexual harassment at workplace and has
adopted a policy against sexual harassment in line with the provisions of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules framed thereunder. The Company
has not received any sexual harassment related complaints during the year.

TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section
134(3)(m) of the Companies Act, 2013 read with Rule, 8 of The Companies (Accounts) Rules, 2014, are not
applicable to Company, as our Company has not carried out in the manufacturing activities. The foreign
exchange earning on account of the operation of the Company during the year was Rs. Nil.

VIGIL MECHANISM:

As the Company does not have any significant business activity, there was no need to have a Vigil Mechanism
Policy.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge
and ability, confirm that:

a. in preparation of the annual accounts for the financial year ended 31^st March 2024, the applicable
accounting standards have been followed along with proper explanation relating to material
departures, if any;

b. they have selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of
the Company at the end of the financial year and of the profit and loss of the Company for that
period;

c. they have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;

d. they have prepared the annual accounts on a going concern basis;

e. they have laid down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and were operating effectively;

f. they have devised proper systems to ensure compliance with the provisions of all applicable laws and
that such systems were adequate and operating effectively.

BUSINESS RISK MANAGEMENT:

Since the Company does not have any significant business activities, hence the Business Risk is at the Minimal
Level. Hence, no major risk factors are envisaged except for: a. Government Policies b. Human Resource Risk.

GENERAL:

The Board of Directors state that no disclosure or reporting is required in respect of the following matters as
there were no transactions or applicability pertaining to these matters during the year under review:

i) Fraud reported by the Auditors to the Audit Committee or the Board of Directors of the Company.

ii) Payment of remuneration or commission from any of its subsidiary companies to the Managing
Director/ Whole Time Director of the Company.

iii) Voting rights which are not directly exercised by the employees in respect of shares for the
subscription/ purchase of which loan was given by the Company (as there is no scheme pursuant to
which such persons can beneficially hold shares as envisaged under section 67(3)(c) of the Companies
Act, 2013).

iv) Details of any application filed for corporate insolvency under Corporate Insolvency Resolution
Process under the Insolvency and Bankruptcy Code, 2016.

v) One time settlement of loan obtained from the banks or financial institutions.

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received
from the Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also
wish to take on record their deep sense of appreciation for the committed services of the employees at all
levels, which has made our Company successful in the business.

For and on Behalf of the Board
For ID INFO BUSINESS SERVICES LIMITED

Place: Mumbai
Date: 02.09.2024

KANNAN NAIKER
Chairman
DIN:00014414

---

Mar 31, 2014

Dear Members

The Directors present the Annual Report together with the audited Accounts for the year ended 31st March 2014

Financial Results

Particulars Current Year Previous Year

(In Rs.) (In Rs.) (31.03.2014) (31.03.2013)

Profit/Loss Before Tax (6,54,176) (3,25,041)

Less Provision for Tax 0 0

Profit/Loss After Tax (6,54,176) (3,25,041)

Add Balance Brought From Last Year (3,45,82,147) (3,42,57,106)

Balance Carry Forward (3,52,36,323) (3,45,82,147) to Next Year

Dividend

In view of the inadequate profit during the year, the directors regret to recommend any dividend for the year under review.

Fixed Deposits

During the year company has not accepted any fixed deposits from the public.

Directors

Mr. Prabhash Jain, Director of the company, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

Auditiors

Vishnu Agarwal & Associates, Chartered Accounts, Mumbai retire at the ensuing Annual General Meeting and they have expressed their willingness to continue as Statutoiy Auditors of the Company and being eligible offers themselves for appointment and if appointed the same will be within the prescribed limits specified in section 139(1) of the Companies Act, 2013. Members are therefore request to consider their appointment and fix their, remuneration.

Auditors Report

Explanations to notes on accounts referred by the auditors in their reports are self-explanatory.

Directors Responsibility Statement

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 the directors state that:

a) In the preparation of Annual Accounts for the financial year ended 31st March 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures.

b) The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that were 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 profit and loss account of the Company under review.

c) The Directors have taken proper and sufficient care for the maintenance of adequate Accounting records in accordance with the provision for the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

d) The Annual Accounts have been prepared on a going concern basis

Particulars of Employees

As there are no employees in receipt of remuneration of Rs.24,00,000 or more for the year or Rs.2,00,000/- per month if employed for part of the year, the statement made under Section 217(AA) is not applicable.

Particulars Regarding Conservation of energy. Technology absorption and foreign exchange earnings and outgo:

The details of above are not applicable in the case of your company.

Corporate Governance

Clause 49 of the listing agreement is not applicable to the Company as paid up capital of the Company is less then Rs.3,00,00,000/- and Not having net worth of Rs.25,00,00,000/- or more at any time in the history of the Company.

Dematerialisation:

The shares of the Company were in physical form and CDSL and NSDL has admitted for depository services. The ISIN no is: INEO88PO1015. Trading of the shares was suspended from BSE since 2nd January, 2002 and the revocation of suspension is under process.

Name Change:

With the approval of members in Extraordinary General Meeting held on 10.08.2013 the name change (ID INFO BUSINESS SERVICES LIMITED) had applied with ROC and the same has been approved. The approval from BSE is yet to be applied.

Acknowledgement

Your Directors place on record their appreciation of contribution made by staff, consultants at all level and for their efficient services rendered by them.



Place: Mumbai For and behalf of the Board of Hemakuta Industrial Investment Co. Ltd Date: 27th May, 2014

Abhishek Morarka Chairman

---

Mar 31, 2013

To, The Beloved Members of Hemakuta Industrial Investment Co. Ltd.

The Directors present the Annual Report together with the audited Accounts for the year ended 31st March 2013

Financial Results

Particualrs Current Year Previous Year (In Rs.) (In Rs.) (31.03.2013) (31.03.2012)

Profit/Loss Before Tax (3,25,041) (4,61,671)

Less Provision for Tax 0 0

Profit/Loss After Tax (3,25,041) (4,61,671)

Add Balance Brought From (3,42,57,106) (3,37,95,435)

Last Year

Balance Carry (3,45,82,147) (3,42,57,106)

Forward to Next Year

Dividend

In view of the inadequate profit during the year, the directors regret to recommend any dividend for the year under review.

Fixed Deposits

During the year company has not accepted any fixed deposits from the public.

Directors

Mr.Abhishek Morarka, Director of the company, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

Auditiors

Vishnu Agarwal & Associates, Chartered Accounts, Mumbai retire at the ensuing Annual General Meeting and they have expressed their willingness to continue as Statutory Auditors of the Company and being eligible offers themselves for appointment and if appointed the same will be within the prescribed limits specified in section 224(1B) of the Companies Act, 1956. Members are therefore request to consider their appointment and fix their remuneration.

Auditors Report

Explanations to notes on accounts referred by the auditors in their reports are self-explanatory.

Directors Responsibility Statement

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 the directors state that:

a) In the preparation of Annual Accounts for the financial year ended 31st March 2013 the applicable accounting standards have been followed along with proper explanation relating to material departures.

b) The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March 2013 and of the profit and loss account of the Company under review.

c) The Directors have taken proper and sufficient care for the maintenance of adequate Accounting records in accordance with the provision for the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

d) The Annual Accounts have been prepared on a going concern basis

Compliance Certificate

In accordance with the requirements of Section 383Aof the Companies Act, 1956, Certificate from Practicing Company Secretary certifying regarding compliance with the legal requirement, in respect of the company for the year ended 31st March, 2013, is enclosed and marked as Annexure-I

Particulars of Employees

As there are no employees in receipt of remuneration of Rs.24,00,000 or more for the year or Rs.2,00,000/? per month if employed for part of the year, the statement made under Section 217(AA) is not applicable.

Particulars Regarding Conservation of energy, Technology absorption and foreign exchange earnings and outgo:

The details of above are not applicable in the case of your company.

Corporate Governance

Clause 49 of the listing agreement is not applicable to the Company as paid up capital of the Company is less then Rs.3,00,00,000/? and Not having net worth of Rs.25,00,00,000/? or more at any time in the history of the Company.

Dematerialisation:

The shares of the Company were in physical form and now CDSL has admitted for depository services and application with NSDL is filed for approval. The ISIN no is : INE088P01015. Trading of the shares was suspended from BSE since 2nd January, 2002 and the Company has already applied for revocation with the Exchange.

Acknowledgement

Your Directors place on record their appreciation of contribution made by staff, consultants at all level and for their efficient services rendered by them.

For and behalf of the Board of Hemakuta Industrial Investment Co. Ltd

Abhishek Morarka

Director

Place: Mumbai

Date: 18th July, 2013

---

Mar 31, 2012

To, The Beloved Members of Hemakuta Industrial Investment Co. Ltd.

The Directors present the Annual Report together with the audited Accounts for the year ended 31st March 2012

Financial Results

Particualrs Current Year Previous Year (In Rs.) (In Rs.) (31.03.2012) (31.03.2011)

Profit/Loss Before Tax (4,61,671) (39,178)

Less Provision for Tax 0 0

Profit/Loss After Tax (4,61,671) (39,178)

Add Balance Brought From (3,37,95,435) (3,37,56,257)

Last Year

Balance Carry Forward (3,42,57,106) (3,37,95,435) to Next Year

Dividend

In view of the inadequate profit during the year, the directors regret to recommend any dividend for the year under review.

Fixed Deposits

During the year company has not accepted any fixed deposits from the public.

Directors

Mr. Sushil Morarka, Director of the company, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment & to confirm designation of Mr. Kannan Krishnan as additional Director as Director.

Auditiors

Vishnu Kumar Agarwal, Chartered Account, Mumbai retire at the ensuing Annual General Meeting and they have expressed their willingness to continue as Statutory Auditors of the Company and being eligible offers themselves for appointment and if appointed the same will be within the prescribed limits specified in section 224(1B) of the Companies Act, 1956. Members are therefore request to consider their appointment and fix their remuneration.

Auditors Report

Explanations to notes on accounts referred by the auditors in their reports are self-explanatory

Directors Responsibility Statement

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 the directors state that:

a) In the preparation of Annual Accounts for the financial year ended 31st March 2012 the applicable accounting standards have been followed along with proper explanation relating to material departures.

b) The Directors have selected such accounting policies and applied them consistently and made 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 at 31st March 2012 and of the profit and loss account of the Company under review.

c) The Directors have taken proper and sufficient care for the maintenance of adequate Accounting records in accordance with the provision for the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

d) The Annual Accounts have been prepared on a going concern basis

Particulars of Employees

As there are no employees in receipt of remuneration of Rs.24,00,000 or more for the year or Rs.2,00,000/- per month if employed for part of the year, the statement made under

Section 217(AA) is not applicable.

Particulars Under Section 217(1)€ of The Companies Act, 1956.

A. Conservation of energy & research and development:

The requirement for disclosure of particulars with respect to conservation of energy and research and development is not applicable to the Company.

B. Foreign Exchange

Earned (on FOB basis) : Rs.NIL

Outgo : Rs.NIL

Corporate Governance

Clause 49 of the listing agreement is not applicable to the Company as paid up capital of the Company is less then Rs.3,00,00,000/- and Not having net worth of Rs.25,00,00,000/- or more at any time in the history of the Company.

Dematerialization:

The shares of the Company were in physical form only and trading of the shares were suspended from BSE since 2nd January, 2002

Acknowledgement

Your Directors place on record their appreciation of contribution made by staff, consultants at all level and for their efficient services rendered by them.

For and behalf of the Board of

Hemakuta Industrial Investment Co. Ltd

Abhishek Morarka

Chairman

Place: Mumbai

Date: 14th June, 2012

---

Mar 31, 2010

To, The Beloved Members of Hemakuta Industrial Investment Co. Ltd.

The Directors present the Annual Report together with the audited Accounts for the year ended 31st March 2010

Financial Results

Particualrs Current Year Previous Year (In Rs.) (In Rs.) (2009-10) (2008-09)

Profit/Loss Before Tax (180,424) (3000)

Less Provision for Tax 0 0

Profit/Loss After Tax (180,424) (3000)

Add Balance Brought From Last (3,35,75,833) (3,35,72,833) Year

Balance Carry Forward to (3,37,56,257) (3,35,75,833)

Next Year

Dividend

In view of the inadequate profit during the year, the directors regret to recommend any dividend for the year under review.

Fixed Deposits

During the year company has not accepted any fixed deposits from the public.

Directors

Mr. Abhishek Morarka, Director of the company, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

Auditiors

Rajesh N Agarwal & Co., Chartered Accounts, Mumbai retire at the ensuing Annual General Meeting and they have expressed their willingness to continue as Statutory Auditors of the Company and being eligible offers themselves for appointment and if appointed the same will be within the prescribed limits specified in section 224(1B) of the Companies Act, 1956.

Members are therefore request to consider their appointment and fix their remuneration.

Auditors Report

Explanations to notes on accounts referred by the auditors in their reports are self- explanatory.

Directors Responsibility Statement

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 the directors state that:

a) In the preparation of 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.

b) The Directors have selected such accounting policies and applied them consistently and made judgements 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 at 31st March 2010 and of the profit and loss account of the Company under review.

c) The Directors have taken proper and sufficient care for the maintenance of adequate Accounting records in accordance with the provision for the Companies Act,1956 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

d) The Annual Accounts have been prepared on a going concern basis

Particulars of Employees

As there are no employees in receipt of remuneration of Rs.24,00,000 or more for the year or Rs.2,00,000/- per month if employed for part of the year, the statement made under Section 217(AA) is not applicable.

Particulars Under Section 217(1)(e) of The Companies Act, 1956.

A. Conservation of energy & research and development:

The requirement for disclosure of particulars with respect to conservation of energy and research and development is not applicable to the Company.

B. Foreign Exchange

Earned (on FOB basis) : Rs.NIL

Outgo : Rs.NIL

Corporate Governance

Clause 49 of the listing agreement is not applicable to the Company as paid up capital of the Company is less then Rs.3,00,00,000/- and Not having net worth of Rs.25,00,00,000/- or more at any time in the history of the Company.

Dematerialisation:

The shares of the Company were in physical form only and trading of the shares were suspended from BSE since 2nd January, 2002

Acknowledgement

Your Directors place on record their appreciation of contribution made by staff, consultants at all level and for their efficient services rendered by them.

For and behalf of the Board of

Hemakuta Industrial Investment Co. Ltd

Abhishek Morarka

Chairman

Place: Mumbai

Date: 7th September, 2010