Directors Report of Vishvprabha Ventures Ltd.

Mar 31, 2025

Your Directors presenting the Forty First Annual Report on the business operations and financial performance
of Vishvprabha Ventures Limited (The Company” or “WL”) along with the Audited Financial Statements for
the Financial Year ended March 31, 2025 (the “FY”). The consolidated performance of the Company and its
subsidiaries has been referred to wherever.

1. FINANCIAL RESULTS:

The financial performance (standalone and consolidated) of the Company for the financial year ended on
March 31, 2025 and March 31, 2024 is as follows:

/Pc in I

Particulars	Standalone		Consolidated
	For the period ended 31st March		For the period ended 31st March
	2025	2024	2025	2024
Revenue from Operations	761.95	546.63	992.21	595.13
Other Income	0.22	0.78	80.43	0.78
Total Revenue	762.17	547.71	1072.64	595.91
Profit / (Loss) before Depreciation,Interest & Tax (PBDIT)	177.25	101.07	300.42	-126.16
Depreciation & Amortization	23.41	15.52	121.82	59.43
Interest	95.01	67.28	170.97	79.80
Profit/(Loss) Before Exceptional Items and Tax	58.83	18.27	7.63	-13.07
Exceptional Items	-	-	-	-
Profit/(Loss) Before Tax	58.83	18.27	7.63	-13.07
Tax Provision / (Excess)	9.90	14.13	9.90	14.13
Profit/(Loss) After Tax	48.93	4.14	-2.28	-27.20
Other Comprehensive Income / (Expenditure) for the year	0	0	0	0
Less: Minority Interest Profit / (Loss)			-0.37	-0.15
Total Comprehensive Income / (Expenditure) for the year	48.93	4.14	-1.91	-27.05

2. HIGHLIGHTS OF COMPANY’S PERFORMANCE:

The audited consolidated revenue of your Company’s group including income from operations (gross) and
other income during the year ended 31st March 2025 stood at Rs. 1072.64 lac as compared to Rs. 595.91 lac
in the previous year. The Group had a net loss of Rs. 2.28 lac as compared to net loss of Rs. 27.20 lac as
in the previous year. On an audited standalone basis, the turnover of the Company, including income from
operations (gross) and other income for the year under review, stood at Rs. 762.17 lac vis-a-vis Rs. 547.41 lac
in the previous year. The Company has a net profit of Rs. 48.93 lac during the year ended 31st March 2024
against profit of Rs. 4.14 lac in the previous year.

3. DIVIDEND:

Dividend was not declared during the Financial Year. Dividend Distribution Policy is available in the website
of the Company in the investor tab. www.vishvprabhaventures.com

4. TRANSFER TO RESERVE:

The Company has not propose to transfer any amount to the any Reserve during the financial year ended 31st
March 2025.

5. FUTURE OUTLOOK

The Company always to have future prospects to have growth in construction of projects of buildings, dams roads
etc

6. CHANGE OF REGISTERED OFFICE OF THE COMPANY

During the Financial Year, The Registered office was changed to Ushakal CHS Limited, Ground Floor, Unit No.
B-003, Plot No-91, MIDC, Dombivli East, Dombivali I.A., Thane, Kalyan, Maharashtra, India, 421203 (w.e.f
November 06, 2024) which was within the local limit from the previous Registered office after obtaining approval
from the Board of Directors in the Board meeting dated November 05, 2024.

7. REVISION OF FINANCIAL STATEMENT

During the Year, as per the BSE information company need to file the Financial statements as per Regulation 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations for the Financial year ended March
31, 2024 as the Statement of impact of audit qualification was also required to be filed and same was filed by the
company to BSE June 10, 2024

8. DISCLOSURES UNDER SECTION 134(3)(1) OF THE COMPANIES ACT, 2013:

Except as disclosed elsewhere in this report, no material changes and commitments which could affect the
Company’s financial position have occurred between the end of the financial year of the Company and the date
of this report.

9. CHANGE IN NATURE OF BUSINESS, IF ANY:

The Company is now into the business of construction and infra projects and there areno changes in the nature
of business of the company during the financial year March 2024-25.

10. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
OR TRIBUNALS:

1. During the year under review, Bombay Stock exchange levied a penalty of Rs 55000 for non-filing of
Statement of Impact of audit qualification together with the Audited Financial statement for the Financial year
ended March 31,2025 for Standalone and consolidated.

2. Post Financial Year, Company has received an notice from Officer of the Commissioner of Central GST,
Thane Rural department for the payment of outstanding of Rs 162000 under section 74 along with the interest
of Section 70(3) and penalty under section 74 of CGST Act 2017 along with the interest under section 50
against the reversal of ITC Rs 1,26,000 by the company

3. Case filed against the company Section under which filed 138 Amount 2.50 lacs 2.50 lacs. The company is
not liable to pay so much of the amount because the party has not paid the GST on bills and the same is of no
more liability to paid. The over all liability of the company now stands at 1.62 lacs approx

11. SHARE CAPITAL:

As on March 31, 2025, the Authorized share capital stands at Rs.5,00,00,000/-divided into 50,00,000
equity shares of Rs. 10/- each. Whereas, the issued, subscribed& paid-up share capital of your Company stand
at Rs.31181820/- divided into 31,18,182 equity shares of Rs. 10/- each fully paid as Company issued and
allotted 1403182 equity shares of Rs 10 each at a premium of Rs 22 per share during the year.

a) DISCLOSURE UNDER SECTION 43(A)(II) OF THE COMPANIES ACT, 2013:

The Company has not issued any shares with differential rights and hence no information as per provisions
of Section 43(a) (ii) of the Act read with Rule 4(4) ofthe Companies (Share Capital and Debenture) Rules,
2014 is furnished.

b) DISCLOSURE UNDER SECTION 54(1)(D) OF THE COMPANIES ACT, 2013:

The Company has not issued any sweat equity shares during the year under review and hence no
information as per provisions of Section 54( 1) (d) of the Act read with Rule 8(13) of the Companies (Share
Capital and Debenture) Rules, 2014is furnished.

C) DISCLOSURE UNDER SECTION 62(1)(A) OFTHE COMPANIES ACT, 2013:

1403182 shares were issued and allotted at Rs 10 each with a premium of Rs 22 per share during the year
in term of Right issue as the allotment was approved by the Right issue committee meeting dated
September 09, 2024

d) DISCLOSURE UNDER SECTION 62(1)(B) OF THE COMPANIES ACT, 2013:

The Company has not issued any equity shares under Employees Stock Option Scheme during the year
under review and hence no information as per provisions of Section 62(1 )(b) of the Act read with Rule
12(9) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

e) Disclosure under Section 67(3) of the Companies Act, 2013:

During the year under review, there were no instances of non-exercising of voting rights in respect of
shares purchased directly by employees under a scheme pursuant to Section 67(3) of the Act read with
Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014 is furnished.

f) INFORMATION A BOLT SUBSIDIARY / JV / ASSOCIATE COMPANY:

Presently, the Company has two subsidiary companies in the name of “Vishvprabha Foods Private
Limited” and “Vishvprabha & Lichade Buildcon Private Limited” (Formerly known as
Vishvprabha & VS Buildcon Private Limited

We have a stake holding of 100% in equity shares of Vishvprabha Foods Private Limited and 51% in
in equity shares of Vishvprabha & Lichade Buildcon Private Limited (Formerly known as
Vishvprabha & VS Buildcon Private Limited

The company has formulated a policy on the identification of material subsidiaries in line with regulation
16(c) of SEBI (Listing obligation and disclosure requirement) 2015 and same is also available on the
company’s website https://www.vishvprabhaventures.com7.

A statement containing the salient features of the financial statement of subsidiaries / associate / joint
venture companies as per form AOC-1 is annexedas “Annexure 1” to this report. Further, pursuant to
the provisions of Section 136 of the Act, the standalone and consolidated financial statements of the
Company along with relevant documents & separate audited financial statements in respect of subsidiaries
are available on the Company’s website, https://www.vishvprabhaventures.com/.

12. SEGMENT REPORTING:

The primary business segment of your Company is construction and Foods and Beverages (by Wholly Owned
Subsidiary- Vishvprabha Foods Private Limited)

13. DEPOSIT:

During the year under review, the Company has not accepted any deposits within the meaning of Sections 73 and
74 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

14. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has given unsecured loan to subsidiary Companies Vishvprabha Foods
Private Limited and Vishvprabha & Lichade Buildcon Private Limied. Except this the Company has not

given any loan or guarantee as falling under the provisions of the Section 186 of the Companies Act, 2013. Details
of loans given, investments made or guarantees given or security provided, if any, covered under the provisions
of Section 186 of the Companies Act, 2013 and Regulation 34(3) read with Schedule V of the ‘SEBI (Listing
Obligations & Disclosure Requirements) Regulations, 2015’ are given in the notes forming part ofthe financial
statements provided in this Annual Report.

15. UNSECURED LOAN FROM DIRECTORS:

During the year under review, the Company has accepted an unsecured loan from the Directors or their relatives,
who have provided a declaration in writing to that effect that the amount is not been given out of funds acquired
by him by borrowing or accepting loans or deposits from others. The details has been mentioned in the Financial
statements

16. PARTICULARS OF CHARGES DURING THE YEAR

Company has complied all the necessary rules as prescribed under companies Act 2013 and agreed between Board
party. No new charge was created during the year

17. INSURANCE:

The assets of the Company including buildings, plant & machinery, etc. wherever necessary and to the extent
required have been adequately insured against various risks.

18. COMPANY’S POLICY RELATING TO APPOINTMENT, PAYMENT OF REMUNERATION TO
DIRECTORS, AND DISCHARGE OF THEIR DUTIES:

As per the provisions of Section 178(3) of the Act, on the recommendation ofthe Nomination & Remuneration
Committee of the Company, the Board of Directors had approved a Policy which lays down a framework in
relation to appointment and remuneration of Directors, Key Managerial Personnel and the other employees and
their remuneration.

The Policy broadly lays down the guiding principles, philosophy, and the basis for payment of remuneration to
Directors, Key Managerial Personnel, and other employees. The policy also provides the criteria for determining
qualifications, positive attributes, and Independence of the Director and criteria for appointment of Key
Managerial Personnel / Senior Management while making the selection of the candidates. Pursuant to Section
134(3) of the Act, the Nomination and Remuneration Policy of the Company is available on the website of the
Company at www.vishvprabhaventures.com

19. REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR
MANAGEMENT

The remuneration paid to the Directors, Key Managerial Personnel and Senior Management is as per the
Companies Act, 2013 and is in accordance with the Nomination and Remuneration Policy formulated in
accordance with Section 178 of the Companies Act, 2013.

20. INTERNAL FINANCIAL CONTROLS & RISK MANAGEMENT:

The Company has in place a mechanism to identify, assess, monitor, and mitigate various risks to key business
objectives which may threaten the existence of the Company. Major risks identified by the various functions
are documented along with appropriate mitigating controls on a periodic basis.

21. INTERNAL AUDIT

At the beginning of each financial year, an audit plan is rolled out with approval of the Company’s Audit
Committee. The plan is aimed at evaluation of the efficacy and adequacy of internal control systems and
compliance thereof, robustness of internal processes, policies and accounting procedures and compliance with
laws and regulations. Based on the reports of internal audit, process owners undertake corrective action in their
respective areas. Significant audit observations and corrective actions are periodically presented to the Audit

22. MEANS OF COMMUNICATION:

The quarterly and annual results are generally published in two languagof newspaper English and Marathi
respectively and simultaneously posted on the Company’s website https://www.vishvprabhaventures.com/ and
are also available on the website of BSE.

23. BOARD OF DIRECTORS:

a) COMPOSITION & CONSTITUTION OF BOARD OF DIRECTORS:

As on March 31, 2025 The Company had 5 directors which majority of directors are Independent
Director. The Board of Directors as on the date comprises of following Directors and Key Managerial
Personnel. During the Year, Mitesh Jayantilal Thakkar was reappointed as Chairman and Managing
Director after obtaining approval from Shareholders in the 40^th Annual General Meeting dated
September 30, 2024 for a term of 5 years w.e.f August 09, 2024.

SR No.	Name of Director/KMP	Designation	DIN/PAN
1	Mr. Mitesh Jayantilal Thakkar	Chairman and Managing Director	06480213
2	Mr. Paresh Ramanlal Desai	Whole-time Director, (Executive)	08602174
3	Mrs. Rakhi Ashokkumar Barod	Independent Director	08776242
4	Mrs. Rajalaxmi Vijay Sawant (Resigned w.e.f May 01, 2025)	Independent Women Director	09847258
5	Mr. Rudrabahadur Bhaktbahadur Bhujel	Company Secretary and Compliance Officer	BWOPB9758D
6	Mr. Utsav Sumantkumar Bhavsar (Resigned w e.f July 14, 2025)	Independent Director	10121169
7	Mr. Ajay Kumar Singh	Chief Financial Officer	AXWPS3022K

b) BOARD MEETINGS HELD DURING THE FINANCIAL YEAR 2024-25:

During the year ended 31st March 2025, 7 (Seven) meetings of the Board of Directors were held. The
details of the Board meeting held and the participation of the Directors there at is enumerated as under.

Sr. No.	Date of Meeting	Board Strength	No. of Directors Present	No. oflndependent DirectorsPresent		% of Attendance
1	30-05-2024	5		5	3	100%
2	01-08-2024	5		5	3	100%
3	14-08-2024	5		5	3	100%
4	31 -08-2024	5		5	3	100%
5	05-11-2024	5		5	3	100%
6	14-11-2024	5		5	3	100%
7	14-02-2025	5		5	3	100%

C) DIRECTORS’ ATTENDANCE AT THE BOARD MEETINGS AND ANNUAL GENERAL
MEETING(AGM):

The details of attendance recorded at each of the Board Meetings and also at the Annual General Meeting
of the Company held during the year ended 31st March 2025 are as under:

Sr. No.	Name of the Board Member	No. of Meetings entitled to attend	No. of Meetings attended	Attendance sheetat the last AGM held on Dated 30/09/2024
1	Mr. Mitesh Thakkar	7	7	Yes
2	Mr. Paresh Raman Desai	7	7	No
3	Mrs. Rakhi Ashokkumar Barod	7	7	No
4	Mrs. Rajalaxmi Vijay Sawant	7	7	No
5	Mr. Utsav S Bhavsar	7	7	Yes

d) BOARD-SKILLS / EXPERTISE / COMPETENCIES:

The Board of directors based on the recommendations of the Nomination and Remuneration Committee,
identified the following core skills / expertise / competencies of Directors as required in the context of
business of the Company for its effective functioning:

Sr. No.	Skills / Expertise / Competencies
1	Leadership qualities
2	Industry knowledge and experience
3	Understanding of relevant laws, rules and regulations
4	Financial expertise
5	Risk management

e) A CHART / MATRIX SETTING OUT THE SKILLS / EXPERTISE AND COMPETENCIES OF
THEBOARD OF DIRECTORS:

The Directors of your Company possess diverse knowledge and requisite skills, expertise, and
competencies to effectively discharge adequate technical, financial, legal, and administrative skills in
guiding the management. In terms of Para C (2), Schedule V to the SEBI Listing Regulations, the Board
of Directors has identified the core skills / expertise / competencies which are desirable for the effective
functioning of the Company and its sector.

Sr. No.	Skill / Expertise / Competencies	Mr. MiteshJ. Thakkar	Mr. PareshR. Desai	Mr. Utsav S Bhavsar	Mrs. Rajalaxmi Vijay Sawant	Ms. Rakhi A. Barod
1	Leadership qualities	Expert	Good	Good	Good	Expert
2	Industry knowledge and experience	Expert	Good	Good	Proficient	Good
3	Understanding of relevant laws, rules and regulations	Expert	Good	Expert	Good	Expert
4	Financial Expertise	Expert	Good	Expert	Good	Good
5	Risk Management	Expert	Good	Good	Good	Good

f) NOMINATION AND REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee of Directors is constituted by the Board of Directors of
the Company in accordance with the requirements of Sectionl78 of the Companies Act, 2013 as on March
31, 2025

The composition of the committee is as under:

1. Ms. Rakhi Ashokkumar Barod- Chairman

2. Mr. Utsav S Bhavsar- Member

3. Mrs. Rajalaxmi Sawant- Member

4. Mitesh J Thakkar- Member

Name	Cessation/Appointment	Effective Date
Mr. Mitesh Thakkar	Appointment	31/08/2024

The Board has, in accordance with the provisions of sub-section (3) of Section 178of the Companies Act,
2013, formulated the policy setting out the criteria for determining qualifications, positive attributes,
independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel
and other employees. This policy is hosted on Company’s website in Investor Tab:
https://www.vishvprabhaventures.com/.

Major criteria defined in the policy framed for appointment of and payment of remuneration to the
Directors of the Company, are as under:

I SELECTION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In case of Executive Directors and Key Managerial Personnel, the selection can be made in either of
the ways given below:

a. By way of recruitment from out side

b. From within the Company hierarchy; or

c. Upon recommendation by the Chairman or other Directors.

The appointment may be made either to fill up a vacancy caused by retirement, resignation, death or
removal of an existing Executive Director or it may be a fresh appointment.

In case of Non-Executive Directors, the selection can be made in either of the ways given below:

a. By way of selection from the data bank of Independent Directorsmaintained by
the Government.

b. Upon recommendation by Chairman or other Directors

II QUALIFICATIONS, EXPERIENCE AND POSITIVE ATTRIBUTES OF DIRECTORS:

While appointing a Director, it shall always be ensured that the candidate possesses appropriate
skills, experience and knowledge in one or more fields of finance, law, management, sales,
marketing, administration, research, corporate governance, technical operations or other disciplines
related to the Company’s business.

a. In case of appointment as an Executive Director, the candidate must have the relevant technical
or professional qualifications and experience as are considered necessary based on the job
description of the position. In case no specific qualification or experience is prescribed or
thought necessary for the position than while recommending the appointment, the job description
to the Committee shall be provided and along with justifications that the qualifications,
experience and expertise of the recommended candidate are satisfactory for the relevant
appointment.

b. The Board, while making the appointment of a Director, shall also try to assess from the
information available and from the interaction with the candidate that he is a fair achiever in his
chosen field and that he is a person with integrity, diligence, and an open mind.

III BOARD DIVERSITY AND INDEPENDENCE OF DIRECTORS:

While making the appointment of directors, the following principles shall be observed by the Board,

as far as practicable:

• There shall be a proper mix of Executive and Non-Executive Directors and Independent and
Non-independent directors on the Board The Company shall always be in compliance with the
provisions of Section 149 of the Companies Act, 2013 in this regard.

• There shall be a workable mix of directors drawn from various disciplines like technical, finance,
commercial, legal, etc.

• While appointing a director to fill in a casual vacancy caused by death, resignation etc. of a
director, an effort shall be made, as far as possible, toappoint such a person in his place who has
the relevant experience in the fields or disciplines in which the outgoing director had with
relevant expertise as requisite to tire business of the Company.

• No preference on the basis of gender, religion or cast shall be given while considering the
appointment of directors.

• While appointing independent directors, the criteria for the independent directors, as laid down
in Section 149 (6) of the Companies Act, 2013 shallbe followed.

IV REMUNERATION OF DIRECTORS:

• Remuneration to Directors is based on various factors like the Company’s size, economic and
financial position, Directors’ participation in Board and Committee Meetings and after
benchmarking with peer companies. Based on the same and performance evaluation of the
concerned director, NRC recommends to the Board, that remuneration be payable to the
Directors.

• The remuneration paid to Managing Director and Executive Director(s) includes base salary and
variable compensation while remuneration to Independent Directors is based on various factors
like committee position, chairmanship, attendance, and participation and performance
evaluation. The Independent Directors are entitled to receive remuneration by way of sitting
fees, reimbursement of expenses for participation in the Board/Committee meetings, and
commission.

• In terms of Regulation 46 of the SEBI Listing Regulations, the criteria for payment to Non¬
Executive Directors is available on the website of the Company:
https ://www. vishvprabhaventures. com/.

• For details of remuneration paid / payable to Directors for the year ended March 31,2025, refer
to Annual Return available in the Website of the Company.

The details of meeting held and participation of members of the committee is as follow;

Sr. No.	Date of meeting	Total No. of Members on thedate of Meeting	No. of Members attended	% of attendance
1	01/08/2024	3	3	100%

The details of Nomination and Remuneration Committee Meetings held from April 01,2024 to March 31,
2025 and attendance of each Director thereat is as follows;

Sr.	Name of the Board Member	No. ofIVIeetings	No. of Meetings
No.		entitled to	attended
		attend

1	Mr. Rakhi Ashokkumar Barod		1	1
2	Mrs. Rajalaxmi Vijay Sawant		1	1
3	Mr. Utsav S Bhavsar		1	1
4	Mr. Mitesh Jayantilal Thakkar (appointed w.e.f. 31-08-2024)		0	0

g) AUDIT COMMITTEE:

The Audit Committee of Directors was reconstituted pursuant to the provisions of Section 177 of the
Companies Act, 2013. The composition of the Audit Committee is in conformity with the provisions of
the said section. The Audit Committee comprises as on March 31, 2025.

1. Mrs. Rakhi Ashokkumar Barod- Chairperson

2. Mrs. Rajalaxmi Sawant- Member

3. Mr. Utsav S Bhavsar- Member.

4. Mitesh J Thakkar- Member

During the year, Following are the changes.

Name	Cessation/Appointment	Effective Date
Mr. Mitesh Thakkar	Appointment	31/08/2024

EXTRACT OF TERMS OF REFERENCE:

Pursuant to Regulation 34 (3) read with Schedule V of the SEBI Listing Regulations, a brief description

of terms of reference of the Audit Committee, inter-alia includes the following:

• Oversight of the Company’s financial reporting process and the disclosure of its financial information
to ensure that the financial statement is correct, sufficient and credible;

• Recommendation for appointment, remuneration and terms of appointment of auditor’s of the
Company and review and monitor the auditor’s independence and performance, and effectiveness of
audit process;

• Reviewing, with the management, the quarterly & annual financial statements before submission to
the Board for approval along with the draft audit report;

• Reviewing utilization of loans and/ or advances from / investment by the holding company in the
subsidiary exceeding prescribed limits and also review the financial statements, in particular, the
investments made by the unlisted subsidiaries of the Company;

• Approval or any subsequent modification of transactions of the Company with related parties;

• Recommendation to the Board, related party transactions not covered under Section 188, if not
approved by the Audit Committee;

• Ratifying a transaction involving an amount not exceeding 1 Crore entered into by a Director or officer
of the Company;

• Evaluation of internal financial controls and risk management systems;

• Reviewing compliance with listing and other legal requirements relating to financial
statements;

• Reviewing, with the management, performance of statutory and internal
auditor’s, adequacy of the internal control systems;

• Establishing & reviewing the functioning of the Whistle Blower Mechanism;

• Reviewing compliance with the provisions of SEBI (Prohibition of Insider Trading) Regulations,
2015 and verify that the systems for internal control are adequate and are operating effectively.

The details of the meeting held and participation of members of the committee areas follows;

Sr. No.	Date of Meeting	Total No. of	No. of Members	% of
		Members on the Date of Meeting	attended	Attendance

l	30/05/2024	4	4	100%
2	14/08/2024	4	4	100%
3	14/11/2024	4	4	100%
4	14/02/2025	4	4	100%

The details of Audit Committee Meetings held from April 01, 2024 to March 31,2025 and attendance
of each Member thereat is as follows.

Name	Cessation/Appointment	Effective Date
Mr. Mitesh Thakkar	Appointment	31/08/2024

Sr. No.	Name of the Member	No. of Meetings entitled to attend	No. of Meetings attended
1 2	Mrs. Rakhi Ashokkumar Barod	4	4
	Mrs. Rajalaxmi Vijay Sawant	4	4
3	Mr. Utsav S Bhavsar	4	4
4	Mr. Mitesh J Thakkar	2	2

h) STAKEHOLDERS’ RELATIONSHIP COMMITTEE:

During the year, the Changes in the Committee,

Name	Cessation/Appointment	Effective Date
Mr. Mitesh Thakkar	Appointment	31/08/2024

During the year one meeting of the above-mentioned committee was held on November 14, 2024

Sr. No.	Name of the Member	No. ofMeeting entitled to attend	No. of Meeting attended
1	Mrs. Rakhi Ashokkumar Barod	1	1
2	Mr. Utsav S Bhavsar	1	1
3	Mrs. Rajalaxmi Vijay Sawant	1	1
4	Mr. Mitesh Jayantilal Thakkar (invitee)	1	1

i) RIGHT ISSUE COMMITTEE

Dnrino the vear Rioht issue committee held a meetinv on Anril lfi 2024 & Sentemher 9 2024

Sr. No.	Name of the Board Member	No. ofMeeting entitled to attend	No. of Meeting attended
1	Mrs. Rakhi Ashokkumar Barod	2	2
2	Mr. Mitesh Jayantilal Thakkar	2	2
3	Mr. Paresh Ramanlal Desai	2	2

j) VIGIL MECHANISM POLICY FOR THE DIRECTORS AND EMPLOYEES:

The Board of Directors of the Company has, pursuant to the provisions of Section 178(9) of the
Companies Act, 2013 read with Rule 7 of the Companies (Meetingsof Board and its Powers) Rules,
2014. framed “Vieil Mechanism Policv” for Directors and emnlovees of the Comnanv to provide a

mechanism which ensures adequate safeguards to employees and Directors from any victimization on
raising of concerns of any violations of legal or regulatory requirements, incorrect or misrepresentation of
any, financial statements and reports, etc. The employees of the Company have the right / option to report
their concerns / grievances to the Chairman of the Audit Committee.

The Company is committed to adhering to the highest standards of ethical, moral and legal conduct of
business operations. The Whistle Blower Policy is hosted on the Company’s website at:
https: //www. vishvpra bhaventures. com/.

k) ANNUAL EVALUATION OF DIRECTORS, COMMITTEE AND BOARD:

The nomination and Remuneration Committee of the Board had prepared and sent, through its Chairman,
feedback forms for evaluation of the Board, Independent Directors and the Chairman. The Independent
Directors at their meeting considered and evaluated the Board’s performance, and the performance of the
Chairman. The Board subsequently evaluated the performance of the Board, the Committees and
Independent Directors; without participation of the concernedDirector.

As stipulated by the Code of Independent Directors under the Companies Act, 2013 and the Listing
Agreement, a separate meeting of the Independent Directors of the Company was held on February 14,
2025 to review the performance of Non-independent Directors (including the Chairman) and the Board as
a whole Performance evaluation of Independent Directors was conducted by the Board of Directors,
excluding the Director being evaluated. The criteria for performance evaluation of Independent Directors
laid down by the Nomination, Remuneration and Compensation Committee are as below:

S The Board of Directors competent in order to assess the strength, weakness, opportunities and
Thread in order to conduct the business for growth and have sustainable,

S Mitesh Thakkar is having an experience of more than 2 decades and Mr. Paresh Desai along
possess experience of couple of years having the same line of business. Whereas Mrs. Rakhi
Barod, Mrs. Rajalaxmi Sawant and Mr. Utsav Bhavsar do posses the necessary experience too.

v'' The Directors are qualified to deal with the conduct of affairs effective with account, finance,
business strategy and have a sustainable growth

^ The Board was and is highly diversified to deal the in-business growth of the Business along with
other parameters like Human resource, Marketing strategy, Financial growth and environment
friendly work

S Appointment of Board of directors was done as per companies act 2013 read with SEBI LODR
Regulations 2015 in compliance relation to it. The Board of directors duly complied the conditions
of independence and also possess experience and knowledge in relation to it.

The Meeting of Directors generally happens frequently and repetitive as required under applicable laws
and rules on regular basis in terms of companies act 2013 and SEBI LODR Regulations requirement
structure. Such meeting are enough to perform the duties for the company. The Venue are generally of the
Meeting was Registered office of the Company and time was compatible for them to attend the meeting
including Committee meeting

Agenda was circulated and provided before the meeting and tabled with the relevant information including
major decisions. All the necessary explanation and papers were provided to the Board members for
discussion. Generally, all the agenda usually discussed in the same meeting so there were so such
outstanding items of previous meeting. All the discussion items were discussed without any rush and
provided sufficient time for discussion. All the directors had participated in the meeting with relevant
expertise and knowledge including Committee Activities.

In the meeting all the issues were discussed comprehensively with a good environment in a professional
manner which always value added for decision along with opinions and views were welcomed accordingly
as collectively by participating actively. The Minutes were recorded as per Companies Act 2013 along

with the Secretarial Standards issued by institute or Company Secretaries of India with duly circulated.
All the resolution has been passed with consent obtained by director majority or unanimously. All the
necessary information has been provided included all the material events too.

Function of Board

• The Roles and responsibilities of Board of directors are different as per their expertise and
knowledge thereof. The Board is wholly committed to execute the plan, strategy and also evaluate
the risks associated to it and also work altogether to mitigate the risk. The Company do have an
internal control system. The Board also discussed regarding the Monetary and Non Monetary
budget along with the corporate performance too with the capital expenditure for the company.
During the company has not acquire any company or made any disinvestment

• During the Year, the Company has complied all the necessary compliance and the discuss any
new amendment with respect to it. The Compliance officer monitors and the sufficient
information to monitor the same along with the Board to provide the sufficient information.

• the Board had done necessary arrangement the integrity of the entity’s accounting and financial
reporting systems, including the independent audit, and that appropriate systems of control are in
place, in particular, systems for risk management, financial and operational control, and
compliance with the law and relevant standards along with the information disclosed. The Board
evaluated the Secretarial Audit report MR 3 for the FY 2024-2025 as provided by the Secretarial
Auditor.

• In case of High risk issues, the Board asses the risk along with the alternatives to mitigate the risk
as I shall not impact the organization along with the right direction and motivation to be provided
along with all the necessary information provided the same

The Board in discussion with the Key Managerial personnel in order to resolve the Grievance of all
the stakeholders. However there are no conflict of interest was arise and all the Board of Directors has
worked all together with their mutual consent. All the Stakeholder can address their Grievance to the
Company secretary and same will be discussed and resolution was provided. All the information was
kept with all the personal information of the stakeholder privately, The Company has more than half of
Board as independent Directors and they discuss and exercise the power and resolve the issues in case of
any conflict of interest.

The Stakeholder values are adequate by resolving the Grievance of them in fair and timely manner. The
Communication process is simple and fast which are done in good faith and ethically in order to make
sure the trust with the company remains and all the stakeholder shall be treated equally and fairly
altogether.

The Values and Culture was performed and will be performed in the Organisation. Similarly,
performance evaluation of the Chairman was carried out by the Independent Directors.

The Independent Director does evaluate the performance of Executive Director and Managing Director
in a true and fair views. It monitors by the perfonnance of the Company providing the strategies and a
power performance in both financial performance. The Remuneration is as per Companies Act 2013 and
read with SEBI LODR Regulations. The Company reimburse all the expenses by the Directors and Key
Managerial Personnel which are incurred towards the company. The Level of Independence of all the
director is adequate and actively exchange of information in a true and transparent manner. The Company
do have sufficient funds in order to take expert advice or opinion if required. Currently there is no
succession plan for the company by the management

The directors are provided induction programmed during the appointment and resignation in order to take
the views and opinion regarding the company. The Training program are scheduled frequently and
repetitively for the Directors to up to date themselves in relation to finance.

Committee of Board

All the Necessary committees has been formed as per the Companies Act 2013 read with SEBI LODR
Regulations 2015. They have been assigned to do all the necessary competence in the Company with
there independency. All the Committee are functioning and had functioned as per the criteria which are
needed to fulfilled. The Structure of the committee has been as per Companies Act 2013 read with SEBI
LODR Regulations 2015 and had contributed to the decision of Board significantly

4. FAMILIARIZATION PROGRAMME:

The Company has familiarized and facilitate the Independent Directors with the Company, their roles,
responsibilities in the Company, and the nature of the industry in which the Company operates. The details
relating to the familiarization program are available on the website of Company’s website at:

https://www.vishvprabhaventures.com/.

They also contribute in the Committee meeting too which are required in order to safeguard the interest
of stakeholders., compliance and other important aspects which are necessary for the company.

l) SEPARATE MEETING OF INDEPENDENT DIRECTORS:

As stipulated by the code for Independent Directors in Schedule IV of the Act and Regulation 25 of the
Listing Regulations, a separate meeting of the Independent Directors of the Company was held on
February 14, 2025 to review the performance of all Non-Independent Directors, the Board as a whole and
the performance of the Chairman of the Company taking into account the views of other executive and
non-executive directors. The independent directors also reviewed the quality, content and timeliness of
the flow of information betweenthe Management and the Board and its Committees towards effective
and reasonable performance and discharge of their duties.

m) DECLARATION BY INDEPENDENT DIRECTOR(S):

The Company has received the declaration of independence from the Independent Directors as stipulated
under Section 149(6) of the Companies Act, 2013 and Regulation 16( 1 )(b) of the SEBI (Listing
Obligations & Disclosure Requirements) Regulations, 2015, confirming that they meet the criteria of
independence which has been duly assessed by the Board as part of performance evaluation oflndependent
Directors. Further, all the new Independent Directors have confirmed that they have registered/ applied
for the registration for inclusion of their namein the Independent Directors data bank maintained by the
Indian Institute of Corporate Affairs. Also, Independent Directors have confirmed that, if applicable, they
shall undergo the proficiency test in accordance with Rule 6(4) of theCompanies (Appointment and
Qualification of Directors) Rules, 2014. The Independent Directors have complied with the code for
Independent Directors prescribed in Schedule TV to the Companies Act, 2013. The Board opined and
confirm, in terms of Rule 8 of the Companies (Accounts) Rules, 2014 that the Independent Directors are
persons of high repute, integrity and possess the relevant expertise and experience in their respective
fields.

Mrs. Rakhi Barod and Mrs. Rajalaxmi Sawant are professional person in terms of Law graduate and Mr.
Utsav S Bhavsar is the Member of Institute of Company Secretary of India having immense knowledge
for law and financial matters in order to fulfill the competency and function as a team as whole. All the
director are punctual and attend the meeting on time and participate with all the commitment and expertise
required in order to take a decision and make significant contribution and add the values of them to the
company. All the director do share the independence and keep it as required under Companies Act and
SEBI LODR Regulations. All the Independent do safeguard the interest of the Company of all the
Stakeholders duly committed the same.

Evaluation Method:

The Performance of Board Generally taken by taking views orally and keeping it Confidentially by having
conversation face to face or having interviews personally. The Question will be related to knowledge,
experience, handling of situations which are risky and not easy. The Company do take views from the
external experts so that the decision can get more accurate and wiser for the Company for decision making.
The external experts are not related party with the company.

The Chairperson generally being active have discussion with the independent director to fulfill the role
and requirement as needed. The Confidentiality of conversation and information are maintained at high
level.

The Training has been provided as needed as per the requirement with the timeline to finish any given

work as needed towards the company. Each independent director used to give sufficient information and
other resources in to order to fulfill.

Generally, the Evaluation of performance is done every year once in the Financial Year, So that all the
directors fulfill the responsibilities given to directors.

The objective is to have sustainable growth in the Company and since reviewing the evaluation process
makes the company’s performance in positive manner individually and collectively altogether which are
done once in a year on regular basis. The Management do take the views seriously received from internal
and external members too and which are not related to the company.

n) TRANSFER OF UNCLAIMED DIVIDEND AND UNCLAIMED SHARES- TRANSFER TO
INVESTOR EDUCATION AND PROTECTION FUND:

Pursuant to Section 125 of the Act, to the extent notified, dividends that are unclaimed for a period of
seven years are to be transferred to the Investor Education and Protection Fund (IEPF) administered by
the Central Government and no claim shall lie against IEPF. The Company was not required to transfer
any funds to the Investor Education and Protection Fund for the year under review.

24. PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulating
trading in securities by the Directors and designated employees of the Company. The Code requires pre¬
clearance for dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the
Directors and the designated employees while in possession of unpublished price-sensitive information in
relation to the Company and during the period when the trading window is closed. The Compliance Officer is
responsible for the implementation of the Code.

The code of prevention of insider trading and fair disclosures is there on the website ofthe Company.

All Board of Directors and the designated employees have confirmed compliance with the Code.

The Company’s Code of practices and procedures for fair disclosure of unpublished price-sensitive information
is available on the Company’s website at: https://www.vishvprabhaventures.com/.

25. AUDITOR’S:

a) STATUTORY AUDITOR’S:

The members of the Company at their 37^th Annual General Meeting held on Wednesday,
September 29th, 2021 had appointed M/s. S G C O & Co. LLP, Chartered Accountants, Mumbai
having Firm''s Registration No. 112081W/W100184 as a Statutory Auditor of the Company for
a period of 5 (Five) years. During the Financial year 2025-26, they have resigned as the Statutory
auditor of the company as per the resignation letter dated June 11, 2025 due to preoccupation and
prior Commitment.

M/s Nimesh Mehta & Associates Chartered Accountantants having FRN 117425W on
recommendation by Audit committee and Board of directors has proposed to appoint them as the
statutory auditor of the company for the FY 2025-2026 which shall be subject to the approval in
the upcoming Annual general meeting. The Auditors have also furnished a declaration confirming
their independence The Audit Committee reviews the independence of the Auditors and the
effectiveness of the Audit Process.

b) COMMENT ON AUDITOR’S REPORT:

The report of the auditors along with notes to the schedules forms part ofthis Annual Report.
The observations made by the auditor in their Auditor’s Report are self-explanatory and therefore
do not call for any further comments.

Qualified Opinion of Auditor report

The Group is not accounting for liability for Gratuity as required under Indian Accounting Standard

19 (lndAS-19) relating to Employees Benefits as referred to in Note No. 4 to financial results. We
are unable to comment upon the resultant effect on assets, liabilities, profit / (loss) other
comprehensive income / (loss) and Total comprehensive income / (loss) for the year as the amount
of such benefit is presently not ascertainable.

Management View on Qualified Opinion

As per Section 4( 1) of Payment of Gratuity Act 1972, Gratuity shall be payable to an employee who
has rendered continuous service for not less than five years on the termination of his employment

i. (a) on his superannuation, or

ii. (b) on his retirement or resignation, or

iii. (c) on his death or disablement due to accident or disease.

As on March 31, 2025, no employee had worked for more than 5 years continuously, so the
Management is of the opinion that no provision is required to be made in the books of account.
There is no impact in the Financial Statement especially Profit and loss account since it’s not
applicable. The Company shall make the payment of Gratuity to employees once it is applicable
and the Payment of Gratuity Act 1972 shall enforce accordingly.

c) SEC RETARIAL AUDIT REPORT FOR THE YEAR ENDED 31^st MARCH 2025:

The Board has appointed of M/s. V K Bhanusali & Co. a practicing Company Secretary, Mumbai.

As the Secretarial Auditor of the Company as per the Agreed consideration. Mr. Vinit Kishor
Bhanushali having Membership No. 62720 and Certificate of Practice 26886 to conduct
Secretarial Audit for the FY 2024-25. The Secretarial Audit report for the financial year ended
March 31, 2025 is annexed herewith marked as “Annexure 4” to this report.

Sr. No.	Qualifications, reservations or adverse remarks or disclaimer in the Secretarial Auditors’ Report	Directors’ comments on qualifications, reservations or adverse remarks or disclaimer of the Secretarial Auditors as per Board’s Report
1	There was delay for submission for Standalone and Consolidated Impact of Audit Qualification under Regulation 33 of SEBI (LODR) Regulations, 2015 i.e Non submission of the financial results within the prescribed period, for which the Company has paid the applicable Fine as Levied by Bombay Stock Exchange Ltd.	The Company needed to submit the impact of audit qualification for standalone and consolidated and in revised financial statements was submitted accordingly and paid the fine.

d) COST AUDIT:

The provisions of Section 148 under the Companies Act, 2013 are not applicable to the Company.

26. REPORTING OF FRAUD BY AUDITOR''S:

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

27. RELATED PARTY TRANSACTIONS:

The transactions falling under Section 188 are annexed hereto as “Annexure 2”. However, related party
transactions as per Ind AS 24 form part of the financials. During the year under review, there were no materially
significant related party transactions that have been entered into by the Company with its related parties having
potential conflict with the interests of the Company at large. All the related party transactions entered during
the financial year were in the ordinary'' course of business and at arms’ length and approved by the Audit
Committee. The Board has approved a policy for related party transactions, which is available on the
Company’s website at: https://www.vishvprabhaventures.com/.

28. EXTRACT OF ANNUAL RETURN:

Pursuant to provisions of Section 92(3) of the Companies Act, 2013 (‘the Act’) and rule 12(1) of the
Companies (Management and Administration) Rules, 2014, the extract of the annual return is displayed on the
website of the Company, www. vishvprabhaventures. com

29. CORPORATE SOCIAL RESPONSIBILITY:

Social welfare activities have been an integral part of the Company since its inception. The Company is
committed to fulfilling its social responsibility as a good corporate citizen. However, the Company is not
covered by the provisions of Section 135 of the Companies Act, 2013, as it does not satisfy the conditions of
net worth and net profit as laid therein.

30. SECRETARIAL STANDARDS OF ICSI:

Secretarial Standards issued by The Institute of Company Secretaries of India with respect to Board and general
meetings are generally complied with by the Company.

31. PARTICULARS OF EMPLOYEES:

The Company does not have any employee whose particulars are required to be given in terms of the provisions
of Section 197(12) of the Companies Act, 2013 read along with Rule 5(2) of Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014.

Details of workplace sexual harassment complaints reported as per the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013

During the Year, The Committee was reconstituted as per the Act. The Policy was also been reviewed and
same has been uploaded in the website of the company www.vishvprabhaventures.com

Sr No.	Particulars	Number of Complaints
1	Number of complaints received during the financial year 2024-25	NIL
2.	Number of complaints disposed of during the financial year 2024-25	NIL
3.	Number of complaints pending as on end of the financial year 2024-25	NIL

The Company has complied all the applicable rules as prescribed in (Prevention, Prohibition and Redressal
Act, 2013). Company also taken measures to upgrade the safety measures of Women. The Company also has
zero tolerance for sexual harassment in the workplace and has adopted a policy on prevention, prohibition, and
redress of sexual harassment at the workplace. With the objective of providing a safe working environment,
all employees are covered under this policy.

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

The particulars relating to conservation of energy and technology absorption, stipulated in the Companies
(Accounts) Rules, are attached as “Annexure 3”. There are no foreign exchange earnings or outgo during the
year under review.

33. COMPLIANCE IN RELATION TO MATERNITY BENEFITS 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.

34. GENDER-WISE COMPOSITION OF EMPLOYEES

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

Male Employees: Five
Female Employees: One
Transgender Employees: Zero

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

35. DOWNSTREAM INVESTMENT

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

36. INTERNAL FINANCIAL CONTROLS RELATED TO FINANCIAL STATEMENTS:

The Company has an adequate system of Internal Financial Control commensurate with its size and scale
of operations, procedures and policies, ensuring efficient and orderly conduct of its business, including
adherence to the Company’s policy, safeguarding of its assets, prevention and detection of frauds and
errors, accuracy and completeness of accounting records and timely preparation of reliable financial
information.

Based on the assessment carried out by the Management and the evaluation of the results of the assessment,
the Board is of the opinion that the Company has adequate Internal Financial Control System that is
operating effectively during the year under review.

There were no instances of fraud which necessitates reporting of material mis-statement to the Company’s
operations.

37. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH THEIR
STATUS AS AT THE END OF THE FIN ANCIAL YEAR:

During the year under review and till date of this Report, the Company has neither made any application
against anyone nor any proceedings were pending against the Company under the Insolvency and
Bankruptcy Code, 2016.

38. DETAILS OF 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
THEREOF:

During the year, there was no such instance for valuation was needed.

39. 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 statement in terms of Section 134(3)(c) of the Companies Act,2013:

a) In the preparation of the annual accounts for the Year Ended March 31, 2025 the applicable
accounting standards had been followed along with proper explanation relating to material
departures, if any;

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 March 31, 2025 and of the profit and loss of the company
for that period;

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting

records in accordance with the provisions of this Act for safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;

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

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

f) And the directors had devised proper systems to ensure compliance withthe provisions of all
applicable laws and that such systems were adequate and operating effectively.

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.

40. GENERAL SHAREHOLDER INFORMATION:

a) 41^s'' ANNUAL GENERAL MEETING:

Date	1 ime	Venue
29/08/2025	2.00 pm	Ushakal CHS Limited, Ground Floor, Unit No. B-003, Plot No.-91, MIDC, Dombivli East, Dombivali I.A., Thane, Kalyan, Maharashtra, India, 421203

hr piMAivr’iAi pai PNinAii mn thf vfab

Financial year	l5'' April, 2024 to 31s'' March, 2025
Book Closure Date	September 24, 2024 to September, 30 2024 (both days inclusive)

c) LISTING OF EQUITY SHARES ON STOCK EXCHANGES AND STOCK CODES:

Name of stock exchange	Bombay Stock Exchange
Address of stock	Phiroze Jeejeebhoy Towers,Dalai
exchange	Street, Fort,
	Mumbai - 400001
Scrip Code	512064

The Company has paid the annual listing fees to the stock exchange for the FY 2024-25.

d) LOCATION AND TIME, WHERE ANNUAL GENERAL MEETING (AGM) FOR THE
i vitauc uim i ri me nvr\ riti nvv.

Financial Year	AGM	Day and Date	Time	Place / Location
2023-24	40th	Monday, September 30, 2024	2.00 pm	Ground Floor, Avighna Heights, Survey No.45-4 Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201
2022-23	39th	Friday, September 29, 2023	2.00 pm	Ground Floor, AvighnaHeights, Survey No.45-4Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201
2021-22	38th	Friday, September 30, 2022	2.00 pm	Ground Floor, Avighna Heights, Survey No.45-4B Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201

All the resolutions set out in the respective notice were passed by therequisite majority of
the shareholders.

e) NO EXTRA ORDINARY GENERAL MEETING HELD DURING THE FY 2024-25

0 REGISTRAR AND SHARE TRANSFER AGENT (RTA):

The registered office address and contact details of RTA are as follows:

M/s MUFG Intime India Pvt. Ltd (formerly knowns as Link Intime India Pvt. Ltd)

C 101,247 Park, LBS Marg,

Vikhroli (West), Mumbai - 400083
Phone: [phone]
FAX: [phone]
Email: [email protected]

g) SHARE TRANSFER SYSTEM:

As per SEBI Notification No. SEBI/LAD-NRO/GN/2018/24 dated June 8, 2018and further
amended vide Notification No. SEBI/LAD-NRO/GN/2018/49 dated November 30, 2018,
requests for effecting transfer of securities(except in case of transmission or transposition of
securities) cannot be processed from April 1, 2019 unless the securities are held in the
dematerialized form with the depositories. Therefore, members holdingshares in physical form
are requested to take necessary action to dematerialize the holdings.

h) DEMATERIALIZATION OF SHARES:

The Company’s shares are required to be compulsorily traded on Stock Exchanges in
dematerialized form. The number of shares as of 31st March, 2025 held in dematerialized and
physical form are as under:

Sr. No.	Particulars	No. of Shares	%
1	CDSL	2587573	82.98
2	NSDL	528859	16.96
3	Physical	1750	0.06%
	Total	3118182	100.00%

COMPLIANCE WITH MANDATORY AND NON-MANDATORY REQUIREMENTS
OF THE LISTING REGULATIONS:

The Company has complied with all mandatory requirements of Listing Regulations and has not
adopted any non-mandatory requirements which are not applicable to the Company.

i) FEES PAYABLE TO STATUTORY AUDITORS:

Total consolidated fees payable to the Statutory Auditors for statutory audit fees including
reimbursement of expenses and others for FY 2024-25 is Rs. 4,00,000

j) DETAILS OF NON-COMPLIANCE BY THE LISTED ENTITY, PENALTIES,
STRICTURESIMPOSED ON THE ENTITY:

Fines as per SEBI circular no. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023
(Chapter-VII(A)-Penal Action for Non-Compliance)

1. Pursuant to Regulation 33 of Non-submission of the financial results within the period
prescribed under this regulation. Bombay Stock Exchange levied a Penalty of Rs 55,000 on late
submission of Financial results as prescribed under Regulation 33 of the SEBI LODR Regulation.
The Penalty was paid within the time frame and advised the Management to be more cautious in
relation to Compliances.

2. Post Financial Year, Company has received an notice from Officer of the Commissioner of
Central GST, Thane Rural department for the payment of outstanding of Rs 162000 under section
74 along with the interest of Section 70(3) and penalty under section 74 of CGST Act 2017 along
with the interest under section 50 against the reversal of TTC Rs 1,26,000 by the company

3. Case filed against the company Section under which filed 138 Amount 2.50 lacs 2.50 lacs. The
company is not liable to pay so much of the amount because the party has not paid the GST on
bills and the same is of no more liability to paid. The over all liability of the company now stands
at 1.62 lacs approx.

k) APPRECIATION:

Your Directors would like to express their appreciation for the cooperation and assistance received
from Government authorities, financial institutions, banks, vendors, customers, shareholders and
other business associatesduring the year under review. The Directors also wish to place on record
their deep sense of appreciation for the committed services of all theemployees of the CompanyA
The Board of Directors places on record its gratitude to the government and regulatory authorities,
correspondent banks, for their support. The Board acknowledges the support of the shareholders
and also places on record its sincere thanks to its valued client for its continued patronage. The
Board also appreciates to all employees of the Company for their sincere work and commitment.

For and on behalf of the Board of Directors of
Vishvprabha Ventures Limited

SD/-

Mitesh J. Thakkar
Managing Director

DIN: 06480213
Place: Dombivli, Thane
Date: 30/07/2025

---

Mar 31, 2024

Your Directors presenting the Fortieth Annual Report on Hie business operations and financial performance of Vishvprabha Ventures Limited ("the Company” or “VVL”) along with the Audited Financial Statements for theFinancial Year ended March 31, 2024 (the “FY”). The consolidated performance of the Company and its subsidiaries has been referred to wherever.

1. Financial results:

The financial performance (standalone and consolidated) of the Company for die financial year ended on March 31,2024 and March 31,2023 is as follows:

(Rs. in Lac)
Particulars	Standalone		Consolidated
	For the period ended 31st March		For the ended 31s* M	period arch
	2024	2023	2024	2023
Revenue from Operations	546.63	183.58	595.13	183.58
Other Income	0.78	4.42	0.78	4.81
Total Revenue	547.71	188.00	595.91	188.39
Profit / (Loss) before Depreciation,Interest & Tax (PBDIT)	101.07	-16.75	-126.16	-11.52
Depreciation & Amortization	15.52	17.44	59.43	17.44
Interest	67.28	0.78	79.80	1.08
Profit/(Loss) Before Exceptional Items and Tax	18.27	-1.47	-13.07	-7.00
Exceptional Items	-	-	-	-
Profit/(Loss) Before Tax	18.27	-1.47	-13.07	-7.00
Tax Provision / (Excess)	14.13	0	14.13	0
Profit/(Loss) After Tax	4.14	-1.47	-27.20	-7.00
Other Comprehensive Income / (Expenditure) for the year	0	0	0	0
Less: Minority Interest Profit / (Loss)	"	"	-0.15	0.11
Total Comprehensive Income / (Expenditure) for the year	4.14	-1.47	-27.05	-6.89

2. Highlights of company’s performance:

The audited consolidated revenue of your Company’s group including income from operations (gross) and odier income during die year ended 31st March 2024 stood at Rs. 595.13 lac as compared to Rs. 188.39 lac in die previous year. The Group had a net loss of Rs. 2 7.19 lac as compared to net loss of Rs. 7.00 lac as in die previous year. On an audited standalone basis, the turnover of die Company, including income from operations (gross) and other income for the year under review, stood at Rs. 547.71 lacvis-a-vis Rs. 188.00 lac in the previous year. The Company has a net profit of Rs. 18.27 lac during die year ended 31st March 2024 against loss of Rs. 1.47 lac in the previous year.

3. Dividend:

Dividend was not declared during the Financial Year. Dividend Distribution Policy is available in the website of the Company in the investor tab. www.vishvprabhaventures.com

4. General reserve:

The Company has not transferred any amount to the General Reserve during the financial year ended 31st March 2024.

5. Revision of financial statement:

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

6. Disclosures under section 134(3)(1) of the companies act, 2013:

Except as disclosed elsewhere in this report, no material changes and commitments which could affect the Company’s financial position have occurred between the end of the financial year of the Company and the date of this report.

7. Change in nature of business, if any:

The Company is now into the business of construction and infra projects and there areno changes in the nature of business of the company during the financial year March 2023-24.

8. Significant and material orders passed by the regulators or courts or tribunals:

During the year under review, there have been no such significant and material orderspassed by the Regulators or the Court, or the Tribunals impacting the going concern status and company’s operations in the future.

9. Share capital:

As on March 31, 2024, the Authorized share capital stands at Rs.5,00,00,000/-divided into 50,00,000 equity shares of Rs.10/- each. Whereas, the issued, subscribed& paid-up share capital of your Company stand at Rs. 1,71,50,000/- divided into 17,15,000 equity shares of Rs.10/- each fully paid, So no changes in the Share capital structure.

a) Disclosure under Section 43(a)(ii) of the Companies Act, 2013:

The Company has not issued any shares with differential rights and hence no information as per provisions of Section 43(a) (ii) of the Act read with Rule 4(4) ofthe Companies (Share Capital and Debenture) Rules, 2014 is furnished.

b) Disclosure under Section 54(l)(d) of the Companies Act, 2013:

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54(1) (d) ofthe Act read with Rule 8(13) ofthe Companies (Share Capital and Debenture) Rules, 20 Mis furnished.

C) Disclosure under Section 62(l)(a) of the Companies Act, 2013:

Company has not issued shares to existing Shareholder on right basis. The Company has made an application to Bombay Stock exchange in order to obtain in principle approval on December 28, 2023 after the Draft letter of offer was approved and considered by the Right Issue committee in there meeting dated December 28, 2023 and received the In Principal Approval on April 08, 2024.

d) Disclosure under Section 62(l)(b) of the Companies Act, 2013:

The Company has not issued any equity shares under Employees Stock Option Scheme during the year under review and hence no information as per provisions of Section 62(l)(b) of the Act read with Rule 12(9) ofthe Companies (Share Capital and Debenture) Rules, 2014 is furnished.

e) Disclosure under Section 67(3) of the Companies Act, 2013:

During the year under review, there were no instances of non-exercising of voting rights in respect of shares purchased directly by employees under a scheme pursuant to Section 67(3) ofthe Act read with Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014 is furnished.

f) Information about Subsidiary / JV / Associate Company:

Presently, the Company has two subsidiary companies in the name of “Vishvprabha Foods Private Limited” and “Vishvprabha & VS BuildconPrivate Limited”.

We have a stake holding of 100% in equity shares of Vishvprabha Foods Private Limited and 51% in in equity shares of Vishvprabha & VS Buildcon Private Limited.

The company has formulated a policy on the identification of material subsidiaries in line with regulation 16(c) of SEBI (Listing obligation and disclosure requirement) 2015 and same is also available on the company''s website https://www.vishvprabhaventures.com/.

A statement containing the salient features of the financial statement of subsidiaries / associate / joint venture companies as per form AOC-1 is annexedas “Annexure 1” to this report. Further, pursuant to Hie provisions of Section 136 of the Act, the standalone and consolidated financial statements of die Company along with relevant documents & separate audited financial statements in respect of subsidiaries are available on the Company’s website, https://www.vishvprabhaventures.coni/.

10. Segment reporting:

The primary business segment of your Company is construction.

11. Deposit:

The Company has not accepted any deposits and as such and no amount of principal orinterest was outstanding as of the date of die Balance Sheet. The Company has filed Return of Deposit in the E Form DPT 3 to Ministry of Corporate Affairs and complied all die necessary applicable rules diereto as to furnish information about deposits and/or outstanding receipt of loans or money other than deposits.

12. Particulars of loans, guarantees or investments under section 186:

The Company has given unsecured loan to wholly own subsidiary Company Vishvprabha Foods Private Limited. Except diis the Company has not given any loan or guarantee as falling under die provisions of the Section 186 of die Companies Act, 2013. Details of loans given, investments made or guarantees given or security provided, if any, covered under die provisions of Section 186 of the Companies Act, 2013 and Regulation 34(3) read widi Schedule V of the ‘SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015’ are given in the notes forming part ofthe financial statements provided in this Annual Report.

During die Year Company has subscribed the Shares in Mumbai Enviro Solutions Private Limited. The 9000 Shares of the Mumbai Enviro Solutions Private Limited was sold by die Vishvprabha Ventures Limited to Mr Rajendrakumar Parashuram Dhende and 24500 shares were sold Mr. Ranjit Kamlakar Salunke as Agreed by bodi die parties during die year

13. Particulars of Charges during the Year

During the Year, Company had took a Loan from Bank of Maharashtra of Rs 552,00,000 as per the Sanction letter dated May 04, 2023. All the Necessary forms were duly filed by die Company as per Companies Act 2013 and Applicable rules thereto. E form CHG 1 has been filed by the Company with respect to it.

14. Insurance:

The assets ofthe Company including buildings, plant & machinery, etc. wherever necessary and to die extent required have been adequately insured against various risks.

15. Internal financial controls & risk management:

The Company has internal control mechanisms commensurate widi the size and scale and nature of die operation''s system. The scope and authority of the Internal Audit function are defined by the Audit Committee.

To maintain its objectivity and independence, die internal audit functions report to die Chairman of die Audit Committee of the Board. The internal audit department monitors and evaluates the efficiency and adequacy of

the internal control system in the Company, and its compliance with operating systems, accounting procedures, and policies of the Company. Based on the suggestions of Hie internal audit function, the management undertook corrective action in their respective areas and thereby strengthens the controls.

16. Means of communication:

The quarterly and annual results are generally published in two language of newspaper English and Marathi respectively and simultaneously posted on the Company''s website https://www.vishvprabhaventures.com/ and are also available on the website of BSE.

17. Board of Directors:

a) Composition & constitution of Board of Directors:

As on March 31, 2024 The Company had 5 directors which majority of directors are Independent Director. The Board of Directors as on the date comprises of following Directors and Key Managerial Personnel

SR No.	Name of Director/KMP	Designation	DIN/PAN
1	Mr. Mitesh Jayantilal Thakkar	Chainnan and Managing Director	06480213
2	Mr. Paresh Ramanlal Desai	Whole-time Director, (Executive Category)	08602174
3	Ms. Rakhi Ashokkumar Barod	Independent Director	08776242
4	*Mrs. Rajalaxmi Vijay Sawant	Independent Women Director	09847258
5	#Mr. Rudrabahadur Bhaktbahadur Bhujel	Company Secretary and Compliance Officer	BWOPB9758D
6	**Mr. Utsav Sumantkumar Bhavsar	Independent Director	10121169
7	##Mr. Ajay Kumar Singh	Chief Financial Officer	AXWPS3022K

? Below are the details of changes in the Directors and KMP

Mr. Ashish Ramesh Dange had resigned as Independent Director W.e.f. 07th June 2023

*Mrs. Rajalaxmi Vijay Sawant was appointed as Additional Independent Director w.e.f from 06⁴¹¹ January, 2023 and she was appointed as the Director from Additional Director in the 39^th AGM of the Company dated September 29, 2023

# Mr. Rudrabahadur Bhaktbahadur Bhuiel was appointed as Company Secretary and Compliance officer

w.e.f 03^rd July, 2023

**Mr. Utsav Sumantkumar Bhavsar was appointed as Non-Executive Independent (Additional) Director w.e.f. 03^rd July, 2023 and he was appointed as the Director from Additional Director in the 39^th AGM of the Company dated September 29, 2023

## Mr. Ajay Kumar Singh was appointed as Chief Financial Officer w.e.f 26^th July, 2023.

b) Board Meetings held during the financial year 2023-24:

During the year ended 31st March 2024, 8 (Eight) meetings of the Board of Directors were held. The details of the Board meeting held and the participation of the Directors there at is enumerated as under.

Sr. No.	Date of Meeting	Board Strength	No. of Directors Present	No. oflndependent Directors Present	% of Attendance
1	13-04-2023	5	5	3	100%
2	30-05-2023	5	5	3	100%
3	03-07-2023	4	4	2	100%
4	26-07-2023	5	5	3	100%
5	14-08-2023	5	5	3	100%
6	05-09-2023	5	5	3	100%
7	11-11-2023	5	5	3	100%
8	13-02-2024	5	5	3	100%

C) Directors’ attendance at the Board Meetings and Annual General Meeting(AGM):

The details of attendance recorded at each of the Board Meetings and also at the Annual General Meeting of the Company held during the year ended 31 st March 2024 are as under:

Sr. No.	Name of the Board Member	No. of Meetings entitled to attend	No. of Meetings attended	Attendance sheetat the last AGMheld on Dated 29/09/2023
1	Mr. Mitesh Thakkar	8	8	Yes
2	Mr. Paresh Raman Desai	8	8	Yes
3	Ms. Rakhi Ashokkumar Barod	8	8	Yes
4	Mrs. Rajalaxmi Vijay Sawant	8	8	No
5	Mr. Utsav S Bhavsar	5	5	Yes
6	Mr. Ashish Dange	2	2	NA

d) Board-skills / expertise / competencies:

The Board of directors based on the recommendations of the Nomination and Remuneration Committee, identified the following core skills / expertise / competencies of Directors as required in the context of business of the Company for its effective functioning:

Sr. No.	Skills / Expertise / Competencies
1	Leadership qualities
2	Industry knowledge and experience
3	Understanding of relevant laws, rules and regulations
4	Financial expertise
5	Risk management

e) A chart / matrix setting out the skills / expertise and competencies of theBoard of Directors:

The Directors of your Company possess diverse knowledge and requisite skills, expertise, and competencies to effectively discharge adequate technical, financial, legal, and administrative skills in guiding the management. In terms of Para C (2), Schedule V to the SEBI Listing Regulations, the Board of Directors has identified the core skills / expertise / competencies which are desirable for the effective functioning of the Company and its sector.

Accordingly, the details of such skills possessed by the Directors being members of the Board as on 31st March 2024are as under:

Sr. No.	Skill / Expertise / Competencies	Mr. MiteshJ. Thakkar	Mr. PareshR. Desai	Mr. Utsav S Bhavsar	Mrs. Rajalaxmi Vijay Sawant	Ms. Rakhi A. Barod
1	Leadership qualities	Expert	Good	Good	Good	Expert
2	Industry knowledge and experience	Expert	Good	Good	Proficient	Good
3	Understanding of relevant laws, rules and regulations	Expert	Good	Expert	Good	Expert
4	Financial Expertise	Expert	Good	Expert	Good	Good
5	Risk Management	Expert	Good	Good	Good	Good

f) Nomination and remuneration committee:

The Nomination and Remuneration Committee of Directors is constituted by the Board of Directors of die Company in accordance widi the requirements of Section 178 of die Companies Act, 2013 as on March 31,2024 ''

The composition of die commidee is as under:

1. Ms. Raklii Ashokkumar Barod- Chairman

2. Mr. Utsav S Bhavsar - Member

3. Mrs. Rajalaxmi Sawant- Member

The Board has, hi accordance with die provisions of sub-section (3) of Section 178of die Companies Act, 2013, formulated the policy setting out the criteria for determining qualifications, positive attributes, independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel and other employees. This policy is hosted on Company’s website: https://www.vishvprabhaventures.com/.

Major criteria defined in the policy framed for appointment of and payment of remuneration to the Directors of die Company, are as under:

I Selection of Directors and Key Managerial Personnel:

In case of Executive Directors and Key Managerial Personnel, the selection can be made in either of the ways given below:

a. By way of recruitment from out side

b. From within the Company hierarchy; or

c. Upon recommendation by the Chairman or odier Directors.

The appointment may be made either to fill up a vacancy caused by retirement, resignation, deadi or removal of an existmg Executive Director or it may be a fresh appoinbnent.

In case of Non-Executive Directors, die selection can be made in eidier of the ways given below:

a. By way of selection from the data bank of Independent Directorsmaintained by the Government.

b. Upon recommendation by Chairman or other Directors

II Qualifications, experience and positive attributes of Directors:

While appointing a Director, it shall always be ensured that the candidate possesses appropriate skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing, administration, research, corporate governance, technical operations or other disciplines related to the Company’s business.

a. In case of appointment as an Executive Director, the candidate must have the relevant technical or professional qualifications and experience as are considered necessary based on the job description of the position. In case no specific qualification or experience is prescribed or thought necessary for the position than while recommending Hie appointment, the job description to the Committee shall be provided and along with justifications that Hie qualifications, experience and expertise of the recommended candidate are satisfactory for the relevant appointment.

b. The Board, while making the appointment of a Director, shall also try to assess from the information available and from the interaction with the candidate that he is a fair achiever in his chosen field and that he is a person with integrity, diligence, and an open mind.

III Board diversity and independence of Directors:

While making the appointment of directors, the following principles shall be observed by the Board, as far as practicable:

• There shall be a proper mix of Executive and Non-Executive Directors and Independent and Non-independent directors on the Board. The Company shall always be in compliance with the provisions of Section 149 of the Companies Act, 2013 in this regard.

• There shall be a workable mix of directors drawn from various disciplines like technical, finance, commercial, legal, etc.

• While appointing a director to fill in a casual vacancy caused by death, resignation etc. of a director, an effort shall be made, as far as possible, toappoint such a person in his place who has the relevant experience in the fields or disciplines in which the outgoing director had with relevant expertise as requisite to the business of the Company.

• No preference on the basis of gender, religion or cast shall be given while considering the appointment of directors.

• While appointing independent directors, the criteria for Hie independent directors, as laid down in Section 149 (6) of the Companies Act, 2013 shallbe followed.

IV Remuneration ofDirectors:

• Remuneration to Directors is based on various factors like the Company’s size, economic and financial position, Directors’ participation in Board and Committee Meetings and after benchmarking with peer companies. Based on Hie same and performance evaluation of the concerned director, NRC recommends to the Board, that remuneration be payable to the Directors.

• The remuneration paid to Managing Director and Executive Director(s) includes base salary and variable compensation while remuneration to Independent Directors is based on various factors like committee position, chairmanship, attendance, and participation and performance evaluation. The Independent Directors are entitled to receive remuneration by way of sitting fees, reimbursement of expenses for participation in the Board/Committee meetings, and commission.

• In terms of Regulation 46 of the SEBI Listing Regulations, the criteria for payment to NonExecutive Directors is available on the website of the Company: https: //www. vishvprabhaventures. com/.

• For details of remuneration paid / payable to Directors for the year ended March 31,2024, refer to Annual Return available in the Website of the Company.

The details of meeting held and participation of members of the committee is as follow;
Sr. No.	Date of meeting	Total No. of Members on thedate of Meeting	No. of Members attended	%of attendance
1	03/07/2023	2	2	100%
2	26/07/2023	3	3	100%

Mitesh J Thakkar attended the Meeting as Invitee during the Year.

The details of Nomination and Remuneration Committee Meetings held from April 01,2023 to March 31, 2024 and attendance of each Director thereat is as follows;

Sr. No.	Name of the Board Member	No. ofMeetings entitled to attend	No. of Meetings attended
1	Mr. Rakhi Ashokkumar Barod	2	2
2	Mrs. Rajalaxmi Vijay Sawant	2	2
3	Mr. Utsav S Bhavsar	1	1
4	Mr. Mitesh Jayantilal Thakkar (Invitee)	2	2

During the year, Following are the changes.
Name	Cessation/Appointment	Effective Date
Mr. Ashish Dange	Cessation	07/06/2023
Mr. Utsav S Bhavsar	Appointment	26/07/2023

g) Audit committee:

The Audit Committee of Directors was reconstituted pursuant to the provisions of Section 177 of the Companies Act, 2013. The composition of Hie Audit Committee is in conformity with Hie provisions of the said section. The Audit Committee comprises as on March 31,2024.

1. Mrs. Rakhi Ashokkumar Barod- Chairperson

2. Mrs. Rajalaxmi Sawant- Member

3. Mr. Utsav S Bhavsar- Member.

During Hie year, Following are the changes.

Name	Cessation/Appointment	Effective Date
Mr. Ashish Dange	Cessation	07/06/2023
Mr. Utsav S Bhavsar	Appointment	26/07/2023

Extract of terms of reference:

Pursuant to Regulation 34 (3) read with Schedule V of the SEBI Listing Regulations, a brief description

of terms of reference of Hie Audit Committee, inter-alia includes the folio whig:

• Oversight of the Company’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible;

• Recommendation for appointment, remuneration and terms of appointment of auditor’s of the Company and review and monitor the auditor’s independence and performance, and effectiveness of audit process;

• Reviewing, with the management, the quarterly & annual financial statements before submission to the Board for approval along with the draft audit report;

• Reviewing utilization of loans and/ or advances from / investment by the holding company in the subsidiary exceeding prescribed limits and also review the financial statements, in particular, the

investments made by the unlisted subsidiaries of the Company;

• Approval or any subsequent modification of transactions of the Company with related parties;

• Recommendation to the Board, related party transactions not covered under Section 188, if not approved by the Audit Committee;

• Ratifying a transaction involving an amount not exceeding 1 Crore entered into by a Director or officer of the Company;

• Evaluation of internal financial controls and risk management systems;

• Reviewing compliance with listing and other legal requirements relating to financial statements;

• Reviewing, with the management, performance of statutory and internal auditor’s, adequacy of the internal control systems;

• Establishing & reviewing the functioning of the Whistle Blower Mechanism;

• Reviewing compliance with the provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015 and verify that the systems for internal control are adequate and are operating effectively.

The details of the meeting held and participation of members of the committee areas follows;

Sr. No. Date of Meeting Total No. of No. of Members % of

Members on the Date attended Attendance

of Meeting

1 30/05/2023 3 3 100%

2 14/08/2023 3 3 100%

3 11/11/2023 3 3 100%

4 13/02/2024 3 3 100%

The details of Audit Committee Meetings held from April 01, 2023 to March 31,2024 and attendance of each Member thereat is as follows. Mitesh J Thakkar attended the Meeting as Invitee during the Year.

Sr. No.	Name of the Member	No. of Meetings entitled to attend	No. of Meetings attended
1	Mr. Ashish Ramesh Dange	1	1
2	Mrs. Rakhi Ashokkumar Barod	4	4
3	Mrs. Rajalaxmi Vijay Sawant	4	4
4	Mr. Utsav S Bhavsar	3	3
5	Mr. Mitesh J Thakkar (Invitee)	4	4

h) Stakeholders’ relationship committee:

During the year, the Committee was reconstituted on 26/07/2023 wherein Mr Ashish Dange resigned as the Chairperson and Mrs. Rakhi Barod was appointed as Chairperson. Mitesh J Thakkar attended the Meeting as Invitee during the Year.

A meeting of the above-mentioned committee was held on January 11, 2024

i) Right Issue Committee During the year, Right issue commidee held a meeting on December 28,2023
	Sr.	Name of die Board Member	No. ofMeetings	No. of Meetings
	No.		entitled to attend	adended
	1	Mrs. Rakhi Ashokkumar Barod	1	1
	2	Mr. Mitesh Jayantilal Thakkar	1	1
	3	Mr Paresh Ramanlal Desai	1	1

j) Vigil mechanism policy for the directors and employees:

The Board of Directors of the Company has, pursuant to the provisions of Section 178(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetingsof Board and its Powers) Rules, 2014, framed “Vigil Mechanism Policy” for Directors and employees of the Company to provide a mechanism which ensures adequate safeguards to employees and Directors from any victimization on raising of concerns of any violations of legal or regulatory requirements, incorrect or misrepresentation of any, financial statements and reports, etc. The employees of the Company have the right / option to report their concerns / grievances to the Chairman of die Audit C ommittee.

The Company is committed to adhering to the highest standards of ethical, moral and legal conduct of business operations. The Whistle Blower Policy is hosted on the Company’s website at: https://www.vishvprabhaventures.com/.

k) Annual evaluation of Directors, Committee and Board:

The nomination and Remuneration Committee of the Board had prepared and sent, through its Chairman, feedback forms for evaluation of Hie Board, Independent Directors and the Chairman. The Independent Directors at their meeting considered and evaluated the Board’s performance, and the performance of the Chairman. The Board subsequently evaluated the performance of the Board, die Committees and Independent Directors; without participation of the concemedDirector.

As stipulated by the Code of Independent Directors under the Companies Act, 2013 and Hie Listing Agreement, a separate meeting of the Independent Directors of the Company was held on February 22, 2024 to review the performance of Non-independent Directors (including the Chairman) and die Board as a whole Performance evaluation of Independent Directors was conducted by the Board of Directors, excluding the Director being evaluated. The criteria for performance evaluation of Independent Directors laid down by the Nomination, Remuneration and Compensation Committee are as below:

V The Board of Directors competent in order to assess the strength, weakness, opportunities and Thread in order to conduct die business for growth and have sustainable,

V Mitesh Thakkar is having an experience of more tiian 2 decades and Mr. Paresh Desai along possess experience of couple of years having die same line of business. Whereas Mrs. Rakhi Barod, Mrs. Rajalaxmi Sawant and Mr. Utsav Bhavsar do posses the necessary experience too.

¦A The Directors are qualified to deal with die conduct of affairs effective with account, finance, business strategy and have a sustainable growth

V The Board was and is highly diversified to deal the in-business growth of the Business along with other parameters like Human resource, Marketing strategy, Financial growdi and environment friendly work

V Appointment of Board of directors was done as per companies act 2013 read with SEBI LODR Regulations 2015 in compliance relation to it. The Board of directors duly complied die conditions of independence and also possess experience and knowledge in relation to it.

The Meeting of Directors generally happens frequently and repetitive as required under applicable laws

and rules on regular basis in terms of companies act 2013 and SEBI LODR Regulations requirement structure. Such meeting are enough to perform the duties for the company. The Venue are generally of the Meeting was Registered office of the Company and time was compatible for them to attend the meeting including Committee meeting

Agenda was circulated and provided before the meeting and tabled with the relevant information including major decisions. All the necessary explanation and papers were provided to Hie Board members for discussion. Generally, all the agenda usually discussed in the same meeting so there were so such outstanding items of previous meeting. All the discussion items were discussed without any rush and provided sufficient time for discussion. All the directors had participated in the meeting with relevant expertise and knowledge including Committee Activities.

In the meeting all the issues were discussed comprehensively with a good environment in a professional manner which always value added for decision along with opinions and views were welcomed accordingly as collectively by participating actively. The Minutes were recorded as per Companies Act 2013 along with die Secretarial Standards issued by Institute of Company Secretaries of India widi duly circulated. All die resolution has been passed witii consent obtained by director majority or unanimously. All the necessary information has been provided included all the material events too.

Function of Board

• The Roles and responsibilities of Board of directors are different as per their expertise and knowledge thereof. The Board is wholly committed to execute the plan, strategy and also evaluate die risks associated to it and also work altogedier to mitigate the risk. The Company do have an internal control system. The Board also discussed regarding die Monetary and Non Monetry budget along with the corporate performance too with the capital expenditure for the company. During die company has not acquire any company or made any disinvestment

• During the Year, die Company has complied all the necessary compliance and die discuss any new amendment with respect to it. The Compliance officer monitors and the sufficient information to monitor die same along widi die Board to provide the sufficient information.

• die Board had done necessary arrangement the integrity of die entity’s accounting and financial reporting systems, including die independent audit, and that appropriate systems of control are in place, in particular, systems for risk management, financial and operational control, and compliance with die law and relevant standards along with the information disclosed. The Board evaluated the Secretarial Audit report MR 3 for the FY 2023-2024 as provided by die Secretarial Auditor.

• In case of High risk issues, the Board asses the risk along with die alternatives to mitigate the risk as I shall not impact the organization along widi the right direction and motivation to be provided along with all the necessary information provided the same

The Board in discussion widi the Key Managerial personnel in order to resolve die Grievance of all the stakeholders. However tiiere are no conflict of interest was arise and all the Board of Directors has worked all together with their mutual consent. All the Stakeholder can address their Grievance to the Company secretary and same will be discussed and resolution was provided. All die information was kept widi all the personal information of the stakeholder privately, The Company has more than half of Board as independent Directors and they discuss and exercise the power and resolve the issues in case of any conflict of interest.

The Stakeholder values are adequate by resolving die Grievance of diem in fair and timely manner. The Communication process is simple and fast which are done in good faith and ediically in order to make sure the trust widi the company remains and all die stakeholder shall be treated equally and fairly altogether.

The Values and Culture was performed and will be performed in the Organisation. Similarly, performance evaluation of die Chairman was carried out by die Independent Directors.

The Independent Director does evaluate die performance of Executive Director and Managing Director in a true and fair views. It monitors by the performance of the Company providing the strategies and a power performance in both financial performance. The Remuneration is as per Companies Act 2013 and read with SEBI LODR Regulations. The Company reimburse all Hie expenses by the Directors and Key Managerial Personnel which are incurred towards the company. The Level of Independence of all the director is adequate and actively exchange of information in a true and transparent maimer. The Company do have sufficient funds in order to take expert advice or opinion if required. Currently there is no succession plan for the company by the management

The directors are provided induction programmed during the appointment and resignation in order to take the views and opinion regarding the company. The Training program are scheduled frequently and repetitively for the Directors to up to date themselves in relation to finance.

Committee of Board

All the Necessary committees has been formed as per the Companies Act 2013 read with SEBI LODR Regulations 2015. They have been assigned to do all the necessary competence in the Company with there independency. All the Committee are functioning and had functioned as per the criteria which are needed to fulfilled. The Structure of the committee has been as per Companies Act 2013 read with SEBI LODR Regulations 2015 and had contributed to the decision of Board significantly

4- Familiarization programme:

The Company has familiarized and facilitate the Independent Directors with Hie Company, their roles, responsibilities in the Company, and the nature of the industry in which the Company operates. The details relating to Hie familiarization program are available on the website of Company’s website at: https://www.vishvprabhaventures.com/.

They also contribute in the Committee meeting too which are required in order to safeguard the interest of stakeholders., compliance and other important aspects which are necessary for the company.

l) Separate Meeting of Independent Directors:

As stipulated by the code for Independent Directors in Schedule IV of the Act and Regulation 25 of the Listing Regulations, a separate meeting of the Independent Directors of the Company was held on February 22,2024 to review Hie performance of all Non-Independent Directors, the Board as a whole and Hie performance of the Chairman of the Company taking into account the views of other executive and non-executive directors. The independent directors also reviewed the quality, content and timeliness of the flow of information betweenthe Management and the Board and its Committees towards effective and reasonable performance and discharge of their duties.

m) Declaration by Independent Director(s):

The Company has received the declaration of independence from the Independent Directors as stipulated under Section 149(7) of the Companies Act, 2013 and Regulation 16(1 )(b) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, con finning that they meet the criteria of independence which has been duly assessed by the Board as part of performance evaluation otlndependent Directors. Further, all the new Independent Directors have confirmed that they have registered/ applied for the registration for inclusion of their namein the Independent Directors data bank maintained by the Indian Institute of Corporate Affairs. Also, Independent Directors have confirmed that, if applicable, they shall undergo the proficiency test in accordance with Rule 6(4) of theCompanies (Appointment and Qualification of Directors) Rules, 2014. The Independent Directors have complied with the code for Independent Directors prescribed in Schedule IV to the Companies Act, 2013.

Mrs Rakhi Barod and Mrs Rajalaxmi Sawant are professional person in terms of Law graduate and Mr Utsav S Bhavsar is the Member of Institute of Company Secretary of India having immense knowledge for law and financial matters in order to fulfill the competency and function as a team as whole. All the director are punctual and attend Hie meeting on tune and participate with all Hie commitment and expertise required in order to take a decision and make significant contribution and add the values of them to the company. All the director do share the independence and keep it as required under Companies Act and SEBI LODR Regulations. All the Independent do safeguard the interest of the Company of all the Stakeholders duly committed the same.

Evaluation Method:

The Performance of Board Generally taken by taking views orally and keeping it Confidentially by having conversation face to face or having interviews personally. The Question will be related to knowledge, experience, handling of situations which are risky and not easy. The Company do take views from the external experts so that the decision can get more accurate and wiser for Hie Company for decision making. The external experts are not related party with the company.

The Chairperson generally being active have discussion with the independent director to fulfill the role and requirement as needed. The Confidentiality of conversation and information are maintained at high level.

The Training has been provided as needed as per the requirement with the timeline to finish any given work as needed towards Hie company. Each independent director used to give sufficient information and other resources in to order to fulfill.

Generally, the Evaluation of performance is done every year once in the Financial Year, So that all the directors fulfill the responsibilities given to directors.

The objective is to have sustainable growth in the Company and since reviewing the evaluation process makes the company’s performance in positive maimer individually and collectively altogether which are done once in a year on regular basis. The Management do take the views seriously received from internal and external members too and which are not related to the company.

n) Transfer to investor education and protection fund:

Pursuant to Section 125 of the Act, to the extent notified, dividends that are unclaimed for a period of seven years are to be transferred to the Investor Education and Protection Fund (IEPF) administered by the Central Government and no claim shall lie against IEPF. The Company was not required to transfer any funds to the Investor Education and Protection Fund for the year under review.

18. Prevention of insider trading:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulating trading in securities by the Directors and designated employees of the Company. The Code requires preclearance for dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price-sensitive information in relation to the Company and during the period when the trading window is closed. The Compliance Officer is responsible for the implementation of the Code.

The code of prevention of insider trading and fair disclosures is there on the website ofthe Company.

All Board of Directors and the designated employees have confirmed compliance with the Code.

The Company’s Code of practices and procedures for fair disclosure of unpublished price-sensitive information is available on the Company’s website at: https://www.vishvprabhaventoes.com/.

19. Auditor’s:

a) Statutory Auditor’s:

The members of die Company at their 37di Annual General Meeting held on Wednesday, September 29th, 2021, had appointed M/s. S G C O & Co. LLP, Chartered Accountants, Mumbai having Firm’s Registration No. 112081W/W100184 as a Statutory Auditor of die Company for a period of 5 (Five) years.

b) Comment on Auditor’s Report:

The report of the auditors along with notes to the schedules forms part ofthis Annual Report. The observations made by the auditor in their Auditor’s Report are self-explanatory and therefore do not call for any further comments.

Qualified Opinion of Auditor report

The Group is not accounting for liability for Gratuity as required under Indian Accounting Standard 19 (IndAS-19) relating to Employees Benefits as referred to in Note No. 3 to financial results. We are unable to comment upon the resultant effect on assets, liabilities, profit / (loss) other comprehensive income / (loss) and Total comprehensive income / (loss) for the year as the amount of such benefit is presently not ascertainable.

Management View on Qualified Opinion

As per Section 4(1) of Payment of Gratuity Act 1972, Gratuity shall be payable to an employee who has rendered continuous service for not less than five years on the termination of his employment

i. (a) on his superannuation, or

ii. (b) on his retirement or resignation, or

iii. (c) on his death or disablement due to accident or disease.

As on March 31, 2024, no employee had worked for more than 5 years continuously, so the Management is of the opinion that no provision is required to be made in Hie books of account. There is no impact in the Financial Statement especially Profit and loss account since it''s not applicable. The Company shall make the payment of Gratuity to employees once it is applicable and the Payment of Gratuity Act 1972 shall enforce accordingly.

c) Secretarial Audit Report for the year ended 31^st March 2024:

The Board has appointed of M/s. V K Bhanusali & Co. a practicing Company Secretary, Mumbai. Mr. Vinit Kishor Bhanushali having Membership No. 62720 and Certificate of Practice 26886 to conduct Secretarial Audit for die FY 2023-24. The Secretarial Audit report for die financial year ended March 31, 2024 is amiexed herewitii marked as “Annexure 4” to this report.

d) Cost Audit:

The provisions of Section 148 under die Companies Act, 2013 are not applicable to die Company.

20. Reporting of fraud by auditor’s:

During the year under review, the Statutory Auditors and Secretarial Auditors havenot reported any instances of fraud committed hi die Company by its officers or employees, to die Audit Committee under Section 143(12) of the Companies Act,2013 details of which need to be mentioned in the Report.

21. Related party transactions:

The transactions falling under Section 188 are annexed hereto as “Annexure 2”. However, related party transactions as per Ind AS 24 form part of the financials. During the year under review, there were no materially significant related party transactions diat have been entered into by die Company with its related parties having potential conflict with the interests of the Company at large. All the related party transactions entered during die financial year were in die ordinary course of business and at amis’ length and approved by the Audit Committee. The Board has approved a policy for related party transactions, which is available on the Company’s website at: https://www.vishvprabhaventures.coni/.

22. Extract of annual return:

Pursuant to provisions of Section 92(3) of die Companies Act, 2013 (‘die Act’) and rule 12(1) of the Companies (Management and Administration) Rules, 2014, die extract of the annual redim is displayed on die website of die Company, www.vishvprabhaventures. com

23. Corporate social responsibility:

Social welfare activities have been an integral part of die Company since its inception. The Company is committed to fulfilling its social responsibility as a good corporate citizen. However, the Company is not covered by die provisions of Section 135 of the Companies Act, 2013, as it does not satisfy the conditions of net worth and net profit as laid dierein.

24. Secretarial standards of ICSI:

Secretarial Standards issued by The Institute of Company Secretaries of India with respect to Board and general meetings are generally complied with by the Company.

25. Particulars of employees:

The Company does not have any employee whose particulars are required to be given in terms of the provisions of Section 197(12) of the Companies Act, 2013 read along with Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Details of workplace sexual harassment complaints reported as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

During the Year, The Committee was reconstituted as per the Act. The Policy was also been reviewed and same has been uploaded in the website of the company www.vishvprabhaventures.com

Sr No.	Particulars	Number of Complaints
1	Number of complaints filed during the financial year 2023-24 ’	NIL
2.	Number of complaints disposed of during the financial year 2023-24	NIL
3.	Number of complaints pending as on end of the financial year 2023-24	NIL

The Company has complied all the applicable rules as prescribed in (Prevention, Prohibition and Redressal Act, 2013). Company also taken measures to upgrade the safety measures of Women. The Company also has zero tolerance for sexual harassment in the workplace and has adopted a policy on prevention, prohibition, and redress of sexual harassment at the workplace. With the objective of providing a safe working environment, all employees are covered under this policy.

26. Conservation of energy, technology absorption and foreign exchange earnings and outgo:

The particulars relating to conservation of energy and technology absorption, stipulated in the Companies (Accounts) Rules, are attached as “Annexure 3”. There are no foreign exchange earnings or outgo during the year under review.

27. 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 statement in terms of Section 134(3)(c) of Hie Companies Act,2013:

a) In the preparation of the annual accounts for die Year Ended March 31, 2024 die applicable accounting standards had been followed along with proper explanation relating to material departures, if any;

b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and pmdent so as to give a true and fair view of the state of affairs of the company at the March 31, 2024 and of die 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 odier irregularities;

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

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

f) And the directors had devised proper systems to ensure compliance withthe provisions of all applicable laws and that such systems were adequate and operating effectively.

28. General shareholder information: a) 39th Annual General Meeting:
	Date	Time	Venue
	29/09/2023	2.00 pm	Ground Floor, Avighna Heights, Survey No 45 MB, Behind Sarvoday Park,Nandivali Road, Dombivli (East), Thane-421201

b)	Financial calendar for the year 2023-24.
	Financial year	Is* April, 2023 to 31st March, 2024
	Book Closure Date	23rd September, 2023 to 29th September, 2023 (both days inclusive)

<0	Listing of equity shares on stock exchanges and stock codes:
	Name of stock exchange	Bombay Stock Exchange
	Address of stock exchange	Phiroze Jeejeebhoy Towers,Dalai Street, Fort, Mumbai - 400001
	Scrip Code	512064
The Company has paid Hie annual listing fees to die stock exchange for dieFY 2023-24.

d)	Location and time, where Annual General Meeting (AGM) for the last3 years were held is given below:
	Financial Year	AGM	Day and Date	Time	Place / Location
	2022-23	39th	Friday, September 29,2023	2.00 pm	Ground Floor, Avighna Heights, Survey No.45-4B Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201
	2021-22	38*	Friday, September 30, 2022	2.00 pm	Ground Floor, Avighna Heights, Survey No.45-4B Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201
	2020-21	37th	Wednesday, September 29, 2021	2.00 pm	Ground Floor, Avighna Heights, Survey No.45-4B Behind Sarvoday Park, Nandivali Road, Dombivli East, Thane-421201

All the resolutions set out in the respective notice were passed by therequisite majority of tlie shareholders.

e) No Extra Ordinary General Meeting held During the FY 2023-241) Registrar and Share Transfer Agent (RTA):

The registered office address and contact details of RTA are as follows:

M/s Link Intime India Pvt. Ltd.

C 101,247 Park, LBS Marg,

ViMiroli (West), Mumbai - 400083

Phone: [phone]

Email: [email protected]

g) Share transfer system:

The Board has the authority for approving the transfer, and transmission of the Company’s securities. The Company ensures that Hie half-yearly Compliance Certificate pursuant to regulations 40(9) and 40(10) of the SEBIListing Regulations are filed with the Stock Exchanges.

As per SEBI Notification No. SEBI/LAD-NRO/GN/2018/24 dated June 8, 2018and further amended vide Notification No. SEBI/LAD-NRO/GN/2018/49 dated November 30, 2018, requests for effecting transfer of securities(except in case of transmission or transposition of securities) cannot be processed from April 1, 2019 unless the securities are held in the dematerialized form with the depositories. Therefore, members holdingshares in physical form are requested to take necessary action to dematerialize the holdings.

h) Dematerialization of shares:

The Company’s shares are required to be compulsorily traded on Stock Exchanges in dematerialized form. The number of shares as of 31st March, 2024 held in dematerialized and physical fonn are as under:

Sr. No.	Particulars	No. of Shares	%
1	CDSL	1408310	82.12%
2	NSDL	304940	17.78%
3	Physical	1750	0.10%
	Total	17,15,000	100.00%

i) Compliance with mandatory and non-mandatory requirements of the listing regulations:

The Company has complied with all mandatory requirements of Listing Regulations and has not adopted any non-mandatory requirements which are not applicable to the Company.

j) Fees payable to Statutory Auditors:

Total consolidated fees payable to the Statutory Auditors for statutory audit fees including reimbursement of expenses and others for FY 2023-24 is Rs. 4,60,000

k) Details of non-compliance by the listed entity, penalties, stricturesimposed on the entity: NIL.1) Appreciation:

Your Directors would like to express their appreciation for the cooperation and assistance received from Government authorities, financial institutions, banks, vendors, customers, shareholders and other business associatesduring the year under review. The Directors also wish to place on record their deep sense of appreciation for the committed services of all theemployees of the Company.

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Mar 31, 2014

Dear Members

The Directors have pleasure in presenting their Thirtieth Annual Report together with the Audited Balance Sheet as at 31st March, 2014 and the Profit & Loss Account of the Company for the year ended on that date.

FINANCIAL RESULTS:

During the year under review, the Company has earned net profit of Rs. 24,917/- from which is deducted the provision for taxation for current year Rs. 5,000/-, short provision for tax for earlier years Rs. 10,266/- and added the credit balance brought over from earlier years amounting to Rs. 28,07,782/- resulting into a net credit balance of Rs. 28, 17,433/-, which your Directors proposed to carry over to next year.

DIVIDEND:

In view of the inadequacy of Profits and to strengthen the financial position of the Company, your Directors do not recommend payment of any dividend for the year.

DIRECTOR:

Mr. Sushil Kumar Luma retires by rotation at the forthcoming Annual General Meeting and being eligible offer himself for re-appointment.

Pursuant to the provisions of Section 161(1) of the Companies Act, 2013, and the Articles of Association of the Company, Mr. Navneet Dammani was appointed as an Additional Director designated as an Independent Director with effect from 25th August, 2014, and he shall hold office upto the date of the ensuing Annual General Meeting. The Company has received requisite notice in writing from a Member proposing Mr. Navneet Dammani for the appointment as an Independent Director.

Pursuant to the provisions of Section 161(1) of the Companies Act, 2013, and the Articles of Association of the Company, Mrs. Krishna Jaisingh Jain was appointed as an Additional Director designated as an Independent Director with effect from 25th August, 2014, and she shall hold office upto the date of the ensuing Annual General Meeting. The Company has received requisite notice in writing from a Member proposing Mrs. Krishna Jaisingh Jain for the appointment as an Independent Director.

The Company has received declarations from all the independent Directors of the Company confirming that they meet the criteria of Independence as prescribed both under Subsection (6) of Section 149 of the Companies Act, 2013, and under Clause 49 of the Listing Agreement with the Stock Exchanges.

AUDITORS''S REPORT:

The Report of the Auditors'' of the Company is self explanatory and does not require any further clarification.

AUDITORS:

M/s. I.G. Naik & Co., Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. We recommend their re-appointment.

The Company has received a Letter from M/s. I.G. Naik & Co., to the effect that their reappointment, if made, would he within the prescribed limits u/s 141 (3) (g) of the Companies Act, 2013, and that they are not disqualified for reappointment.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217(2AA) of the Companies Art, 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, 2014, 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 the 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, 2014 on a ''going concern'' basis.

INVESTOR SERVICES CENTRE:

The securities of your Company are listed in Mumbai Stock Exchange. The Investor Services Centre of the Company is with M/s. Sharex Dynamic (India) Pvt. Ltd., Unit No. 1, Luthro Industrial Premises, Andheri Kurla Road, Safed Pool, Andheri (East), Mumbai 400 072, who continue to provide prompt Investor Services through Quick Resolution of investor grievances.

Your Company''s shares are tradable in electronic form and your Company has established connectivity with both the depositories viz. National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Shareholders of the Company are requested to avail this facility of keeping their holdings in electronic form in their respective Demat Account in order to facilitate easy transfer of shares.

PARTICULARS PRESCRIBED UNDER SECTION 217(1)(e) OF THE COMPANIES ACT:

Information pursuant to Section 217(1)(e) regarding conservation of energy, technology absorption, foreign exchange earnings and outgo are not applicable to the Company in absence of any manufacturing activity,

PARTICULARS OF EMPLOYEES:

The particulars of employees under section 217(2A) of the Companies Act, 1956 are not given as no employee was in receipt of remuneration exceeding the limit specified in Rule 1A of the Companies (Particulars of Employees Rules, 1975) as amended from time to time whether employed for the full year or lor part of the year.

Registered Office: Warden House 340, J.J. Road, Byculla Mumbai 400 008.

Suresh P. Upadhyay Sunil V. Surve Dated: 25th August, 2014 Director Director

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Mar 31, 2013

TO THE SHAREHOLDERS

The Directors have pleasure in presenting their Twenty Ninth Annual Report together with the Audited Balance Sheet as at 31st March, 2013 and the Profit & Loss Account of the Company for the year ended on that date.

FINANCIAL RESULTS;

During the year under review, the Company has earned net profit of Rs.318,850/- from which is deducted the provision for taxation for current year Rs. 68,000/- and added the credit balance brought over from earlier years amounting to 7 2,556,932/- resulting into a net credit balance of 7 2,807,782/-, which your Directors proposed to carry over to next year.

PEREC/TOR;

Mr. Sunil Surve retires by rotation at the forthcoming Annual General Meeting and being eligible offer himself for re-appolntment.

PJVU2ENJ2I

In view of the inadequacy of Profits and to strengthen the financial position of the Company, your Directors do not recommend payment of any dividend for the year.

AUDITORS''REPORT;

The Report of the Auditors'' of the Company is self explanatory and does not require any further clarification.

AUDITORS;

M/s. I.G. Naik & Co., Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointmenL We recommend their 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 annua/ accounts for the Financial Year ended 3f March, 2013, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that die Directors had selected such accounting policies and applied them consistently and made Judgements and estimates that were reasonable and prudent so as to give a hue and lair 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;

Hi) that the Directors had taken proper and sufficient care for die maintenance of the adequate accounting records in accordance with die provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other Irregularities;

Iv) that die Directors had prepared the accounts for die financial year ended 3f March, 2013 on a ''going concern ''basis.

PARTICULARS PRESCRIBED UNDER SECTION 217f ltfrt OF THE COMPANIES ACT:

Information pursuant to Section 217(l)(e) regarding conservation of energy, technology absorption, foreign exchange earnings and outgo are not applicable to the Company in absence of any manufacturing activity.

PARTICULARS OF EMPLOYEES:

The particulars of employees under section 217(2A) of the Companies Act, 1956 are not given as no employee was In receipt of remuneration exceeding the limit specified in Rule 1A of the Companies (Particulars of Employees Rules, 1975) as amended from time to time whether employed for the full year or for part of the year.

Registered Office:

Warden House 340, JJ. Road Byculla

Mumbai 400 008

Dated: 30 MAY 2013 DIRECTOR DIRECTOR

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Mar 31, 2010

The Directors have pleasure in presenting their Twenty Sixth Annual Report together with the Audited Balance Sheet as at 31st March, 2010 and the Profit & Loss Account of the Company for the year ended on that date.

FINANCIAL RESULTS:

During the year under review, the Company has earned a net profit of Rs. 168,373/- from which is deducted the provision for taxation for current year of Rs.3,500/- and to which is added the excess provision for taxation for earlier years of Rs.432/- and the credit balance brought over from earlier years amounting to R.s.2,384,334/-, resulting into a net credit balance of Rs. 2,549,639/- which your Directors propose to carry over to next year.

DIRECTOR;

Mr. Suresh P. Upadhyay retires by rotation at the forthcoming Annual General Meeting and being eligible offer himself for re-appointment.

DIVIDEND:

In view of the inadequacy of Profits and to strengthen the financial position of the Company, your Directors do not recommend payment of any dividend for the year.

AUDITORS REPORT:

The Report of the Auditors of the Company is self explanatory and does not require any further clarification.

AUDITORS:

M/s. I.G. Naik & Co., Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. We recommend their 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 annua! accounts for the Financial Year ended 31st March, 2010, 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 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 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 the 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, 2010 on a going concern basis.

PARTICULARS PRESCRIBED UNDER SECTION 217il)(e) OF THE COMPANIES ACT:

Information pursuant to Section 217(I)(e) regarding conservation of energy, technology absorption, foreign exchange earnings and outgo are not applicable to the Company in absence of any manufacturing activity.

PARTICULARS OF EMPLOYEES:

The particulars of employees under section 217(2A) of the Companies Act, 1956 are not given as no employee was in receipt of remuneration exceeding the limit specified in Rule 1A of the Companies (Particulars of Employees Rules. 1975) as amended from time to time whether employed for the full year or for part of the year.

Registered Office:

Warden House

340, J.J. Road

Byeulla

Mumbai 400 008.

Dated: 28 JUL 2010