Ranjit Securities Ltd. ನಿರ್ದೇಶಕರ ವರದಿ

Mar 31, 2025

The Directors take pleasure in presenting their 31stAnnual Report together with the Audited Financial Statements (standalone) of the Company (Ranjit Securities Limited) for the year ended 31stMarch, 2025. The Management Discussion and Analysis has also been incorporated in the Report.

HIGHLIGHTS OF PERFORMANCE:

• Total Income for the year is Rs. 142.44 Lakhs as compared to Rs. 101.12 Lakhs in the previous year.

• Profit Before tax for the year was Rs.64.70 Lakhas compared to profit of Rs. 18.68 Lakh in the previous year.

• Profit after tax for the year was Rs.51.74 Lakh as compared to profit of Rs. 6.69 Lakh in the previous year.

FINANCIAL RESULTS: (Amount in Rupees in Lakhs)

S.no.

Particulars

31.03.2025

31.03.2024

1.

Total income

142.44

101.12

2.

Profit Before Tax (PBT)

64.70

18.68

3.

Provision for Tax

12.96

11.99

4.

Profit After Tax (PAT)

51.74

6.69

5.

Balance brought forward from previous year

84.11

78.57

6.

Profit available for Appropriations

135.85

85.44

7.

Surplus carried to the next year’s account

125.50

84.11

8.

Paid up Equity Share Capital

268.74

268.74

9.

EPS (Equity Shares of Rs. 10/- each) Basic & Diluted (in Rs.)

1.93

0.25

DIVIDEND:

Due to in order to conserve profits, your director do not recommend any dividend for the year ended 31st March, 2025. (Previous year Nil)

SHARE CAPITAL AND RESERVES:

During the year under review, there was no change in the share capital of the company. The Company has not issued any shares with differential voting rights, granted stock options nor sweat equity. The Paid-up Equity Share Capital as on 31st March, 2025 was Rs. 268.74 Lakhs divided into 26,87,400 equity shares of Rs. 10/- each. As on 31st March, 2025, none of the Directors of the Company hold any security or instruments convertible into equity shares of the Company.

The Company Shares are listed with the BSE Ltd. However, the BSE has suspended trading of the shares of the Company. TRANSFER TO RESERVES:

During the year under review, your company has transferred amount of Rs.10.35 Lacs to the special reserves as stipulated by RBI. (Previous year Rs. 1.34 Lacs)

FINANCE AND DEPOSITS:

Cash and cash equivalent as at 31st March, 2025 was Rs.24.69 Lacs.

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

(i) The details relating to deposits, covered under Chapter V of the Act:-

(a) Accepted during the year: Nil

(b) Remained unpaid or unclaimed as at the end of the year: Nil

(c) Whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number of such cases and the total amount involved: Nil

(ii) Details of deposits which are not in compliance with the requirements of Chapter V of the Act:

The Company has not accepted any deposits which are not in compliance of the Companies (Acceptance of Deposits) Rules, 2014 during the financial year.

RBI NORMS

The Company is a Non-Deposit Taking Non-Systemically Important Non-Banking Financial Company. The Company continues to fulfill all the norms and standards laid down by the Reserve Bank of India (RBI) pertaining to capital adequacy, statutory liquidity ratio etc. Certificate from statutory auditors for complying the prudential norms for NBFC is attached with Audit report.

KNOWYOUR CUSTOMER AND ANTI MONEYLAUNDERING MEASURE POLICY:

The board has approved the Know Your Customer and Anti Money Laundering Policy (KYC and PMLA Policy) in accordance with RBI Guidelines. Company also adheres to the compliance requirement in terms of the said policy including the monitoring and reporting of cash and suspicious transactions. There were no suspicious transactions noticed during the period.

FAIR PRACTICE CODE:

The company has in place a fair practice code (FPC), as per RBI Regulations which includes guidelines from appropriate staff conduct when dealing with the customers and on the organizations policies vis-a-vis client protection. Your company and its employees duly complied with the provisions of FPC and also displayed at the registered office of the Company.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Company has not provided any guarantees or security or investment. For the particulars of loans given and investments made by the company pursuant to the Section 186 of the Companies Act, 2013, kindly refer the relevant notes forming part of the notes to the financial statements provided in the annual report.

INDUSTRY OUTLOOK AND OPPORTUNITIES:

The Company is mainly having investment activities in the selected. The Security market in the financial year was having good growth and encouraging beyond the expectation. However, the Company does not foresee any substantial changes in its business and profitability in the coming year.

MARKET DEVELOPMENT:

The Company has made investment in the selected companies for which no stock market is available for liquidity; however, it is almost risk free from the changes in the capital market. The Company is making efforts to realize the investment and loans for better deployment for growth of the company.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

During the financial year, your Company did not meet criteria laid down under the provisions of Section 135(1) of the Companies Act, 2013 read with companies (Corporate Social Responsibility Policy) Rules, 2014 and accordingly the provisions Corporate Social Responsibility are not applicable to the Company.

HUMAN RESOURCES:

Many initiatives have been taken to support business through organizational efficiency; process change support and various employee engagement programs which has helped the Organization achieve higher productivity levels. A significant effort has also been undertaken to develop leadership as well as technical/ functional capabilities in order to meet future talent requirement.

Ranjit’s Human Resource processes such as hiring and on-boarding, fair transparent online performance evaluation and talent management process, state-of-the-art workmen development process, and market aligned policies have been seen as benchmark practices in the industry. During the year under review, the following Human Resources initiatives received greater focus:

(i) Employer of Choice: Employees are encouraged to express their views and are empowered to work independently. Employees are given the opportunity to learn through various small projects which make them look at initiatives from different perspectives and thus provide them with a platform to become result oriented. This has helped greatly in overall development of the employee and has significantly arrested the attrition rate.

(ii) Leadership Development: As a part of leadership development, talented employees have been seconded to the senior leadership team to mentor them and prepare them for the next higher role.

(iii) Industrial Relations: Ranjit’s Industrial Relation’s policy shares relevant business information with the Unions in order to enlighten them and make them sensitive towards business requirements. This has helped to build a healthy relationship and resolve issues through mutual dialogue.

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

The Company has placed an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition &Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

No complaint was received during the year under review.

RISK MANAGEMENT POLICY AND INTERNAL ADEQUACY:

The current economic environment carries with it an evolving set of risks. The Company recognizes that these risks need to be managed to protect its customers, employees, shareholders and other stakeholders, to achieve its business objectives and enable sustainable growth. Risk and opportunity management is therefore a key element of the overall strategy.

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. These are discussed at the meetings of the Audit Committee and the Board of Directors of the Company.

Your Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The scope and authority of the Internal Audit (IA) function is defined in the Internal Audit Charter. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board.

The Company emphasizes on those risks that threaten the achievement of business objectives of the Group over the short to medium term. An overview of these risks is provided hereafter, including the actions taken to mitigate these risks and any related opportunities:

i) Strategic and Commercial risks: It is being taken care by the Board on need basis.

ii) Regulatory compliance risks: The regulatory environment has resulted into increased regulatory scrutiny that has raised the minimum standards to be maintained by the Company. This signifies the alignment of corporate performance objectives, while ensuring compliance with regulatory requirements. The Company recognizes that regulatory requirements can at times be challenging, and therefore will, strive to understand the changing regulatory standards, so as to strengthen its decisionmaking processes and integrate these in the business strategy of each of the industries in which it operates. Drive business performance through the convergence of risk, compliance processes and controls mechanisms to ensure continued operational efficiency and effectiveness.

iii) Financial risks: It includes among others, exposure to movements in interest rates and the Company also maintains sufficient liquidity, so that it is able to meet its financial commitments on due dates and is not forced to obtain funds at higher interest rates.

iv) Day-to-day Risk Management: Management and staff at the Company’s facilities, assets and functions identify and manage risk, promoting safe, compliant and reliable operations. These requirements, along with business needs and the applicable legal and regulatory requirements, underpin the practical plans developed to help reduce risk and deliver strong, sustainable performance.

Due to the Company has not fall under the Applicability criteria of risk management Committee, Company discontinues this Committee.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

Your Company has a vigil mechanism named vigil mechanism/Whistle Blower Policy to deal with instances of fraud and mismanagement, if any. The details of the vigil mechanism Policy are explained in the Corporate Governance Report and also posted on the website of the Company and annexed to this Report as “Annexure 1”.

There were no complaints under the above said system during the Financial Year 2024-25.

SUBSIDIARY, ASSOCIATE AND JOINT VENTURE COMPANIES:

During the year under review, your company is not having any subsidiary, Associate and Joint Venture Companies at any moment therefore the financial statements are prepared on standalone basis.

BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNELS AND BOARD MEETINGS:

(i)Indevendent Directors:

All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and SEBI (Listing obligation and disclosure Requirement) Regulation, 2015. Your directors satisfy about their independency.

Our definition of ‘Independence’ of Directors is derived from the SEBI (Listing obligation and disclosure Requirement) Regulation, 2015 and Section 149(6) of the Companies Act, 2013. Based on the confirmation/disclosures received from the Directors and on evaluation of the relationships disclosed, the following Non-Executive Directors are Independent in terms of Reg. 17(10) of SEBI (LODR) Regulation, 2015, and Section 149(6) of the Companies Act, 2013;

a) Mr. Mohmmad Akhtar (DIN: 07714771)

b) Mr. Shayam Ansari (DIN: 09716232)

c) Mr..Vedansh Soni (DIN:10715576)

The Independent directors are not liable to retire by rotation Independent Directors re-appointed:

None of Independent director will be re-appoint in the 31stAnnual General Meeting. During the Year 2024-25 Mr. Vedansh Soni (DIN: 10715576) Regularized as Non- Executive Independent Director in 30th Annual General Meeting held on 30/09/2024

(ii) Women Director:

The Company have Smt. Ranjeet Kaur Hora (DIN:00200028) as Director w.e.f. 12th June, 1997 and has been categorized as Women Director and complies with the provision of appointment of women director in the company.

(iii) Key Managerial Personnel:

No change in any Key managerial personnel during the year.

(v) Meetings of the Board:

The Board meets at regular interval to discuss and decide on Company/business policy and strategy apart from other Board business. However, in case of a special and urgent business need, the Board’s approval is taken by passing resolutions through circulation, as permitted by law, which are confirmed in the subsequent Board meeting.

The notice of Board meeting is given well in advance to all the Directors and invitees. Meetings of the Board are held in Indore, at the Registered Office of the Company. The Agenda of the Board meetings are circulated at least a week prior to the date of the meeting. The Agenda for the Board and Committee meetings includes detailed notes on the items to be discussed at the meeting to enable the Directors to take an informed decision.

During the Year ended 31st March, 2025, 5(Five) Board meetings were held on 6th April 2024, 30th May, 2024, 13th August, 2024, 6thNovember,2024, 14thFebruary, 2025.

The maximum interval between any two meetings did not exceed 120 days.

(vi) Companv’s policy on Directors’ appointment and remuneration

The Policy of Ranjit’s on Directors’ appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under sub-section (3) of section 178, is appended as “Annexure 2” to this Report and hosted on the Company’s website at www.ranjitsecurities.com

(vii) Annual evaluation by the Board

The evaluation framework for assessing the performance of Directors comprises on the following key areas:

i. Attendance of Board Meetings and Board Committee Meetings

ii. Quality of contribution to Board deliberations

iii. Strategic perspectives or inputs regarding future growth of Company and its performance

iv. Providing perspectives and feedback going beyond information provided by the management

v. Commitment to shareholder and other stakeholder interests

The evaluation involves Self-Evaluation by the Board Member and subsequently assessment by the Board of Directors. An executive member of the Board does not participate in the discussion of his evaluation.

DIRECTORS’ RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(5) of the Companies Act, 2013:

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

b. that such accounting policies as mentioned in Note 01of the Financial Statements have been selected and applied consistently and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of Company as at March, 31 st2025 and of the profit and Loss of the Company for the year ended on that date;

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

d. that the annual financial statements have been prepared on a going concern basis;

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

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

(i) Details in respect of fraud reported by auditor u/s 143(12) other than those which are reportable to the central government:

There is no fraud which are reportable by the Auditors to the Central Government, and which needs to be disclosed in the Board report during the year under review.

(ii) Disclosure for frauds against the Company:

In terms of the provisions of section 134(3) (ca) of the Companies Act, 2013, there were no fraud committed against the Company by any person which are reportable under section 141(12) by the Auditors to the Central Government as well as non-reportable frauds during the year 2024-25.

COMMITTEES OF THE BOARD

During the year under review, in accordance with the Companies Act, 2013, the Board has the following 3 (Three) Committees as follows:

(a) Audit Committee

(b) Nomination and Remuneration Committee

(c) Stakeholders’ Relationship Committee

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were on an arm’s length basis and were in the ordinary course of business as details has been given in the relevant schedule in the financial statements annexed with the Boards’ Report. There are no materially significant related party transactions made by the Ranjit’s with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large.

All Related Party Transactions are placed before the Audit Committee and the Committee has accorded its Omnibus Approval and also reviewed the same periodically by Board for approval on a quarterly basis. The Company has developed a Related Party Transactions Policy, Standard Operating Procedures for purpose of identification and monitoring of such transactions.

The policy on Related Party Transactions as approved by the Board is uploaded on the Company’s website at www.raniitsecurities.com

SIGNIFICANT AND MATERIAL ORDERSPASSED BY THE REGULATORS OR COURTS

There are no significant material orders passed by the Regulators/Courts which would impact the going concern status of the Company and its future operations.

INTERNALAUDITORS

The Board has appointed M/s MRMK & Associates, Chartered Accountant Firm, as an Internal Auditor of the company w.e.f. 30th May, 2025 for the financial 2025-26 and takes his suggestions and recommendations to improve and strengthen the internal control systems. His scope of work includes review of operational efficiency, effectiveness of systems & processes, compliances and assessing the internal control strengths in all areas. The Audit Committee reviews adequacy and effectiveness of the Company’s internal control environment and monitors the implementation of audit recommendations including those relating to strengthening of the Company’s risk management policies and systems.

OBSERVATION OF THE AUDITOR AND MANAGEMENT COMMENTS THEREOF:

The Auditor of the company not give any qualified opinion except some “Emphasis of Matter” in their report explanation on that has given below by the board:

1. The Company''s shares are suspended from trading at Bombay Stock Exchange Ltd. (BSE) since December, 2004; However, the company has applied for Revocation of suspension of share with BSE which is yet to be concluded

Management Comments: The Company has complied with almost all the condition of revocation of suspension of share of the company and company has taking regular follow up from the stock exchange and the management is making all the possible efforts for revocation of suspension of trading at the BSE Ltd., which is having nationwide terminals, and it has not put any impact on the financial position of the company.

SECRETARIAL AUDITORS:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of directors has appointed CS Gaurav Agrawal (Membership No.11498, C.P. No. 16822) a Company Secretary in Practice to undertake the Secretarial Audit of the Company for the year 2024-25. The Report of the Secretarial Audit in the Form MR-3 is annexed herewith as “Annexure 3”.

There are some qualifications, reservations or adverse remarks or disclaimer in Secretarial Audit report under the various provision applicable on the company they are following as under: -

Companies Act:-

A case has been filed before Chief Judicial Magistrate of Gwalior by the Registrar of the Companies, M.P. against the company and its directors under section 295(4) & (5), 211, 372(8), 209A and 383(1A) of Companies Act, 1956. The matter is still pending with ROC and Court.

Management Comments: The Company and its concerning directors have submitted their reply to the ROC and the Hon’ble Court for their defiance. It is hopeful that the Court may decide the matter in favor of the Company and likely that no major fine would be imposed and it’s thus not put any impact on the financial position of the company.

SEBI & Listing Compliances:-

1. The Company’s shares are suspended from trading at Bombay Stock Exchange Ltd. (BSE). However, the Company has applied for Revocation of suspension of Share with BSE which is yet to be concluded. The Company has automatically delisted its trading from Madhya Pradesh Stock Exchange (MPSE) and Ahmedabad Stock Exchange (ASE) due to exit order issued by SEBI.

Management Comments: The Company has complied with almost all the condition of revocation of suspension of share of the company and company has taking regular follow up from the stock exchange and the management is making all the possible efforts for revocation of suspension of trading at the BSE Ltd., which is having nationwide terminals.

ENHANCING SHAREHOLDERS VALUE

Your Company believes that its members are among its most important stakeholders. Accordingly, your Company’s operations are committed to the pursuit of achieving high levels of operating performance and cost competitiveness, consolidating and building for growth, enhancing the productive asset and resource base and nurturing overall corporate reputation. Your Company is also committed to creating value for its other stakeholders by ensuring that its corporate actions positively impact the socioeconomic and environmental dimensions and contribute to sustainable growth and development.

CORPORATE GOVERNANCENon-applicability of Corporate Governance provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

As per the provisions of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Provisions of the corporate Governance is not applicable in respect of Listed Companies having paid up equity share capital not exceeding Rs. 10 Crore and Net Worth not exceeding Rs. 25 Crore, as on the last day of previous financial year.

In view of above, as per the Regulation latest Audited Financial Statement of the Company as at 31st March 2025, the paid-up Equity Share Capital and the Net Worth of the Company does not exceed the respective threshold limit of Rs. 10 Crore and Rs. 25 Crore, as aforesaid; hence compliance with the provisions of the Corporate Governance are not applicable to the Company.

However, the Company is making compliances of some of the regulations voluntarily in the interest of the best corporate governance and a separate section on corporate governance practices followed by the Company, together with the Corporate Governance Report is attached as “Annexure-4”.

MD & CFO certification

Certificate obtained from Mr. Harman Singh Hora, Managing Director and Chief Financial Officer, pursuant to Regulation 17(8) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and for the year under review was placed before the Board at its meeting held on 13th August, 2025.

A copy of the certificate on the financial statements for the financial year ended March, 31, 2025 is annexed along with this Report as "Annexure 5".

Code of Conduct and ethics

The Company has formulated the code of conduct for the Board members and senior executives under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 and the SEBI (Prohibition of Insider Trading) Regulations, 2015. A certificate to that effect for the proper compliances given by the Managing Director is annexed as the “Annexure-6” with this Report.

PARTICULARS OF REMUNERATION OF EMPLOYEES

During the year under review, none of the employee of the company is drawing more than Rs.1,02,00,000/- per annum or Rs.8,50,000/- per month for the part of the year. Therefore, Particulars of the employees as required under Section 197 of Companies Act, 2013 read with Rule 5 (2) & Rule 5 (3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are not applicable for the financial year ended 31st March, 202 5.

None of the Managerial Personnel is drawing any remuneration and another monetary and non-monetary benefit from your company therefore Disclosures pertaining to remuneration and other details as required under section 197(12) of the Act read with

Rule 5 and 8(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not applicable for the financial year ended 31st March, 2025.

CONSOLIDATED FINANCIAL STATEMENTS

Since your company is not having any subsidiary company, associate company or joint venture, therefore it is not required to prepare Consolidated Financial Statements for the year 2024-25.

ENERGY CONSERVATION, TECHNOLOGYABSORPTION AND FOREIGN EXCHANGEEARNINGS AND OUTGO

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013read with Rule, 8 of Companies (Accounts)Rules, 2014, is annexed herewith as “Annexure-7”.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments, if any, affecting the financial position of the Company which had occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

EXTRACT OF ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return of the Company in Form MGT-7 for FY 2024-25, is available on the Company’s website athttps://ranjitsecurities. com

PROHIBITION OF INSIDER TRADING

In view of the SEBI (Prohibition of Insider Trading) Regulation, 2015Due to suspension of Trading at BSE, the Company unable to trade but adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company.

The Company has also maintained Structured Digital Database on Insider Trading in pursuant to Reg. 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulation, 2015 to make the track record of communication or dissemination of any UPSI/confidential information by an insider and the information can be used by the person himself or any other person on his behalf.

ADEQUECY OF THE INTERNAL FINANCIAL CONTROL

The Company is having adequate internal control according to the size of the Company, it has internal auditors and the Audit Committee and the vigil mechanism system is also in force. Further that the statutory auditors have also examined the internal control procedure and provided their report as an annexure to the Auditors Report.

GENERAL

a) The company has not filed any application or there is no application or proceeding pending against the company under the Insolvency and Bankruptcy Code, 2016 during the year under review;

b) There is no requirement to conduct the valuation by the bank and no Valuation done at the time of one-time Settlement during the period under review;

c) The Company has complied with the applicable Secretarial Standards under the Companies Act, 2013.

d) Your Company has not declared and approved any Corporate Action viz buy back of securities, mergers and demergers, split of any securities and has not failed to implement or complete the Corporate Action within prescribed timelines. However, during the period under review, the company has declared and paid dividend and issued equity shares pursuant to conversion of warrants into equity shares and issue and allot Bonus Shares to the members of the company during the period under review in compliance with the applicable laws of the Companies Act, 2013 and SEBI regulations;

e) The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable to your Company for the financial year ending March 31, 2025

ACKNOWLEDGEMENTS

Your directors thank the various Central and State Government Departments, Organizations and Agencies for the continued help and co-operation extended by them. The Directors also gratefully acknowledge all stakeholders of the Company viz. customers, members, vendors, banks and other business partners for the excellent support received from them during the year. The Directors place on record their sincere appreciation to all employees of the Company for their unstinted commitment and continued contribution to the Company.


Mar 31, 2024

The Directors take pleasure in presenting their 30th Annual Reporttogether with the Audited Financial Statements (standalone) of
the Company
(Ranjit Securities Limited) for the year ended 31stMarch, 2024. The Management Discussion and Analysis has
also been incorporated in the Report.

HIGHLIGHTS OF PERFORMANCE:

• Total Income for the year is Rs. 101.12Lakhs as compared to Rs. 114.99 Lakhs in the previous year.

• Profit Before tax for the year was Rs.18.68 Lakhas compared to profit of Rs. 21.29Lakh in the previous year.

• Profit after tax for the year was Rs.6.69 Lakh as compared to profit of Rs. 18.99Lakh in the previous year.

FINANCIAL RESULTS: (Amount in Rupees in Lakhs)

S.no.

Particulars

31.03.2024

31.03.2023

1.

Total income

101.12

114.99

2.

Profit Before Tax (PBT)

18.68

21.29

3.

Provision for Tax

11.99

2.31

4.

Profit After Tax (PAT)

6.69

18.98

5.

Balance brought forward from previous year

78.57

63.57

6.

Profit available for Appropriations

85.44

82.55

7.

Surplus carried to the next year’s account

84.11

78.75

8.

Paid up Equity Share Capital

268.74

268.74

9.

EPS (Equity Shares of Rs. 10/- each) Basic & Diluted (in Rs.)

0.25

0.71

DIVIDEND:

Due to inadequate profit during the year under review, your directors do not recommend any dividend for the year ended 31st
March, 2024.
(Previous year Nil)

SHARE CAPITAL AND RESERVES:

During the year under review,there was no change in the share capital of the company. The Company has not issued any shares
with differential voting rights, granted stock options nor sweat equity. The Paid up Equity Share Capital as on 31st March, 2024
was
Rs. 268.74 Lakhs divided into 26,87,400 equity shares of Rs. 10/- each. As on 31st March, 2024, none of the Directors of
the Company hold any security or instruments convertible into equity shares of the Company.

The Company Shares are listed with the BSE Ltd. However, the BSE has suspended trading of the shares of the Company.
TRANSFER TO RESERVES:

During the year under review, your company has transferred amount of Rs.1.34Lacs to the special reserves as stipulated by RBI.
(Previous year Rs. 3.80 Lacs)

FINANCE AND DEPOSITS:

Cash and cash equivalent as at 31st March, 2024 was Rs.55.26Lacs.

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

(i) The details relating to deposits, covered under Chapter V of the Act:-

(a) Accepted during the year: Nil

(b) Remained unpaid or unclaimed as at the end of the year :Nil

(c) Whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number
of such cases and the total amount involved: Nil

(ii) Details of deposits which are not in compliance with the requirements of Chapter V of the Act:

The Company has not accepted any deposits which are not in compliance of the Companies (Acceptance of Deposits) Rules, 2014
during the financial year.

RBI NORMS

The Company is a Non Deposit Taking Non-Systemically Important Non-Banking Financial Company. The Company continues
to fulfill all the norms and standards laid down by the Reserve Bank of India (RBI) pertaining to capital adequacy, statutory
liquidity ratio etc. Certificate from statutory auditors for complying the prudential norms for NBFC is attached with Audit report.

KNOWYOUR CUSTOMER AND ANTI MONEYLAUNDERING MEASURE POLICY:

The board has approved the Know Your Customer and Anti Money Laundering Policy (KYC and PMLAPolicy) in accordance
with RBI Guidelines. Company also adheres to the compliance requirement in terms of the said policy including the monitoring
and reporting of cash and suspicious transactions. There were no suspicious transactions noticed during the period.

FAIR PRACTICE CODE:

The company has in place a fair practice code (FPC), as per RBI Regulations which includes guidelines from appropriate staff
conduct when dealing with the customers and on the organizations policies vis-a-vis client protection. Your company and its
employees duly complied with the provisions of FPC and also displayed at the registered office of the Company.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Company has not provided any guarantees or security or investment. For the particulars of loans given and investments made
by the company pursuant to the Section 186 of the Companies Act, 2013, kindly refer
the relevant notes forming part of the notes
to the financial statements provided in the annual report.

INDUSTRY OUTLOOK AND OPPORTUNITIES:

The Company is mainly having investment activities in the selected. The Security market in the financial year was having good
growth and encouraging beyond the expectation.However, the Company does not foresee any substantial changes in its business
and profitability in the coming year.

MARKET DEVELOPMENT:

The Company has made investment in the selected companies for which no stock market is available for liquidity; however it is
almost risk free from the changes in the capital market. The Company is making efforts to realize the investment and loans for
better deployment for growth of the company.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

During the financial year, your Company did not meet criteria laid down under the provisions of Section 135(1) of the Companies
Act, 2013 read with companies (Corporate Social Responsibility Policy) Rules, 2014 and accordingly the provisions Corporate
Social Responsibility are not applicable to the Company.

HUMAN RESOURCES:

Many initiatives have been taken to support business through organizational efficiency, process change support and various
employee engagement programmes which has helped the Organization achieve higher productivity levels. A significant effort has
also been undertaken to develop leadership as well as technical/ functional capabilities in order to meet future talent requirement.

Ranjit’s Human Resource processes such as hiring and on-boarding, fair transparent online performance evaluation and talent
management process, state-of-the-art workmen development process, and market aligned policies have been seen as benchmark
practices in the Industry. During the year under review, the following Human Resources initiatives received greater focus:

(i) Employer of Choice: Employees are encouraged to express their views and are empowered to work independently. Employees
are given the opportunity to learn through various small projects which make them look at initiatives from different perspectives
and thus provide them with a platform to become result oriented. This has helped greatly in overall development of the employee
and has significantly arrested the attrition rate.

(ii) Leadership Development: As a part of leadership development, talented employees have been seconded to the senior leadership
team to mentor them and prepare them for the next higher role.

(iii) Industrial Relations: Ranjit’s Industrial Relation’s policy shares relevant business information with the Unions in order to
enlighten them and make them sensitive towards business requirements. This has helped to build a healthy relationship and
resolve issues through mutual dialogue.

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

The Company has placed an Anti Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at
the Workplace (Prevention, Prohibition &Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress
complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under
this policy.

No complaint was received during the year under review.

RISK MANAGEMENT POLICY AND INTERNAL ADEQUACY:

The current economic environment carries with it an evolving set of risks. The Company recognizes that these risks need to be
managed to protect its customers, employees, shareholders and other stakeholders, to achieve its business objectives and enable
sustainable growth. Risk and opportunity management is therefore a key element of the overall strategy.

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major
risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis.
These are discussed at the meetings of the Audit Committee and the Board of Directors of the Company.

Your Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The scope
and authority of the Internal Audit (IA) function is defined in the Internal Audit Charter. To maintain its objectivity and
independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board.

The Company emphasizes on those risks that threaten the achievement of business objectives of the Group overthe short to
medium term. An overview of these risks is provided hereafter, including the actions taken tomitigate these risks and any related
opportunities:

i) Strategic and Commercial risks: It is being taken care by the Board on need basis.

ii) Regulatory compliance risks: The regulatory environment has resulted into increased regulatory scrutiny that has raised the
minimum standards to be maintained by the Company. This signifies the alignment of corporate performance objectives,
while ensuring compliance with regulatory requirements. The Company recognizes that regulatory requirements can at times
be challenging, and therefore will, strive to understand the changing regulatory standards, so as to strengthen its decision
making processes and integrate these in the business strategy of each of the industries in which it operates.Drive business
performance through the convergence of risk, compliance processes and controls mechanisms to ensure continued
operational efficiency and effectiveness.

iii) Financial risks: It includes among others, exposure to movements in interest rates and the Company also maintains sufficient
liquidity, so that it is able to meet its financial commitments on due dates and is not forced to obtain funds at higher interest
rates.

iv) Day-to-day Risk Management: Management and staff at the Company’s facilities, assets and functions identify and manage
risk, promoting safe, compliant and reliable operations. These requirements, along with business needs and the applicable
legal and regulatory requirements, underpin the practical plans developed to help reduce risk and deliver strong, sustainable
performance.

Due to the Company has not fall under the Applicability criteria of risk management Committee, Company discontinue
this Committee.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

Your Company has a vigil mechanism named vigil mechanism/Whistle Blower Policy to deal with instances of fraud and mis¬
management, if any. The details of the vigil mechanism Policy is explained in the Corporate Governance Report and also posted
on the website of the Company and annexed to this Report as
“Annexure 1”.

There were no complaints under the above said system during the Financial Year 2023-24.

SUBSIDIARY, ASSOCIATE AND JOINT VENTURE COMPANIES:

During the year under review, your company is not having any subsidiary, Associate and Joint Venture Companies at any moment
therefore the financial statements are prepared on standalone basis.

BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNELS AND BOARD MEETINGS:

(i)Indevendent Directors:

All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6)
of the Companies Act, 2013 and SEBI (Listing obligation and disclosure Requirement) Regulation, 2015. Your directors satisfy
about their independency.

Our definition of ‘Independence’ of Directors is derived from the SEBI (Listing obligation and disclosure Requirement)
Regulation, 2015 and Section 149(6) of the Companies Act, 2013. Based on the confirmation/disclosures received from the
Directors and on evaluation of the relationships disclosed, the following Non-Executive Directors are Independent in terms of
Reg. 17(10) of SEBI (LODR) Regulation, 2015, and Section 149(6) of the Companies Act, 2013;

a) Mr.Yugansh Soni (DIN: 06652396) (upto 31st March 2024)

b) Mr.Mohmmad Akhtar(DIN: 07714771)

c) Mr.Shayam Ansari (DIN : 09716232)

d) Mr.VedanshSoni (DIN:10715576) (w.e.f. 13th August 2024)

The Independent directors are not liable to retire by rotation

Independent Directors re-appointed:

None of Independent director will be re-appoint in the 30th Annual General Meeting.

(ii) Women Director:

The Company have Smt. RanjeetKaurHora (DIN:00200028) as Directorw.e.f. 12th June, 1997 and has been categorized as Women
Director and complies with the provision of appointment of women director in the company.

(iii) Key Managerial Personnel:

No change in any Key managerial personnel during the year.

(iv) Directors seeking re-avvointment:

Mr. Harman SinghHora (DIN: 00209317), who retires by rotation and being eligible offers himself for re-appointment.

(v) Meetings of the Board:

The Board meets at regular interval to discuss and decide on Company/business policy and strategy apart from other Board
business. However, in case of a special and urgent business need, the Board’s approval is taken by passing resolutions through
circulation, as permitted by law, which are confirmed in the subsequent Board meeting.

The notice of Board meeting is given well in advance to all the Directors and invitees. Meetings of the Board are held in Indore, at
the Registered Office of the Company. The Agenda of the Board meetings are circulated at least a week prior to the date of the
meeting. The Agenda for the Board and Committee meetings includes detailed notes on the items to be discussed at the meeting to
enable the Directors to take an informed decision.

During the Year ended 31st March, 2024, 5 (Five) Board meetings were held on 30th May, 2023, 14th August, 2023(adjourned on
21st August, 2023), 14thNovember , 2023(adjourned on 21stNovember, 2023),14thFebruary, 2024 and 31st March 2024.

The maximum interval between any two meetings did not exceed 120 days.

(vi) Company’s policy on Directors’ appointment and remuneration

The Policy of Ranjit’s on Directors’ appointment and remuneration including criteria for determining qualifications, positive
attributes, independence of a Director and other matters provided under sub-section (3) of section 178, is appended as
“Annexure
2”
to this Report and hosted on the Company’s website at www.raniitsecurities.com

(vii) Annual evaluation by the Board

The evaluation framework for assessing the performance of Directors comprises on the following key areas:

i. Attendance of Board Meetings and Board Committee Meetings

ii. Quality of contribution to Board deliberations

iii. Strategic perspectives or inputs regarding future growth of Company and its performance

iv. Providing perspectives and feedback going beyond information provided by the management

v. Commitment to shareholder and other stakeholder interests

The evaluation involves Self-Evaluation by the Board Member and subsequently assessment by the Board of Directors. An
executive member of the Board does not participate in the discussion of his evaluation.

DIRECTORS’ RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors
make the following statements in terms of Section 134(5) of the Companies Act, 2013:

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

b. that such accounting policies as mentioned in Note 01of the Financial Statements have been selected and applied consistently
and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of
affairs of Company as at March, 31 st2024 and of the profit and Loss of the Company for the year ended on that date;

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

d. that the annual financial statements have been prepared on a going concern basis;

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

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

(i) Details in respect of fraud reported by auditor u/s 143(12) other than those which are reportable to the central government:

There is no fraud which are reportable by the Auditors to the Central Government, and which needs to be disclosed in the Board
report during the year under review.

(ii) Disclosure for frauds against the Company:

In terms of the provisions of section 134(3) (ca) of the Companies Act, 2013, there were no fraud committed against the Company
by any person which are reportable under section 141(12) by the Auditors to the Central Government as well as non reportable
frauds during the year 2023-24.

COMMITTEES OF THE BOARD

During the year under review, in accordance with the Companies Act, 2013, the Board has the following 3 (Three)Committees as
follows:

(a) Audit Committee

(b) Nomination and Remuneration Committee

(c) Stakeholders’ Relationship Committee

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were on an arm’s length basis and were in the
ordinary course of business as details has been given in the relevant schedule in the financial statements annexed with the Boards’
Report. There are no materially significant related party transactions made by the Ranjit’s with Promoters, Directors, Key
Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large.

All Related Party Transactions are placed before the Audit Committee and the Committee has accorded its Omnibus Approval and
also reviewed the same periodically by Board for approval on a quarterly basis.The Company has developed a Related Party
Transactions Policy, Standard Operating Procedures for purpose of identification and monitoring of such transactions.

The policy on Related Party Transactions as approved by the Board is uploaded on the Company’s website at
www.raniitsecurities.com

SIGNIFICANT AND MATERIAL ORDERSPASSED BY THE REGULATORS OR COURTS

There are no significant material orders passedby the Regulators/Courts which would impact the going concern status of the
Company and its future operations.

INTERNALAUDITORS

The Board has appointedM/s MRMK & Associates, Chartered Accountant, as an Internal Auditor of the companyw.e.f. 30th
May, 2023 and takes his suggestions and recommendations to improve and strengthen the internal control systems. His scope of
work includes review of operational efficiency, effectiveness of systems & processes, compliances and assessing the internal
control strengths in all areas. The Audit Committee reviews adequacy and effectiveness of the Company’s internal control
environment and monitors the implementation of audit recommendations including those relating to strengthening of the
Company’s risk management policies and systems.

He is re appointed further for the financial year 2024-25 with the recommendation of Audit Committee in Board meeting Held on
30th May, 2024

OBSERVATION OF THE AUDITOR AND MANAGEMENT COMMENTS THEREOF:

The Auditor of the company not give any qualified opinion except some “Emphasis of Matter”in their report explanation on that
has given below by the board:

Emphasis of Matter by the Statutory Auditor for the year 2023-24:¬
1. A case had been filed before CJM Gwalior by the Registrar of the Companies, M.P. against the company and its directors
under section 295 (4) & (5), 211, 372 (8), 383 (1A) & 209A of Companies Act, 1956, which is still not concluded.

Management Comments:The Company and its concerning directors have submitted their reply to the ROC and the Hon’ble Court
for their defenses. It is hopeful that the Court may decide the matter in favor of the Company and likely that no maior fine would
be imposed and it’s thus not put any impact on the financial position of the company.

2. The Company''s shares are suspended from trading at Bombay Stock Exchange Ltd. (BSE) since December, 2004, However,
the company has applied for Revocation of suspension of share with BSE which is yet to be concluded

Management Comments: The Company has complied with almost all the condition of revocation of suspension of share of the
company and company has taking regular follow up from the stock exchange and the management is making all the possible
efforts for revocation of suspension of trading at the BSE Ltd., which is having nationwide terminals, and it has not put any
impact on the financial position of the company.

SECRETARIAL AUDITORS:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, the Board of directors has appointed
CS Gaurav Agrawal (Membership No.11498, C.P.
No. 16822)
a Company Secretary in Practice to undertake the Secretarial Audit of the Company for the year 2023-24. The Report
of the Secretarial Audit in the
Form MR-3 is annexed herewith as “Annexure 3”.

There are some qualifications, reservations or adverse remarks or disclaimer in Secretarial Audit report under the various
provision applicable on the company they are following as under:-

Companies Act:-

A case has been filed before Chief Judicial Magistrate of Gwalior by the Registrar of the Companies, M.P. against the company
and its directors under section 295(4) & (5), 211, 372(8), 209A and 383(1A) of Companies Act, 1956. The matter is still pending
with ROC and Court.

Management Comments: The Company and its concerning directors have submitted their reply to the ROC and the Hon’ble
Court for their defence. It is hopeful that the Court may decide the matter in favor of the Company and likely that no major fine
would be imposed and it’s thus not put any impact on the financial position of the company.

SEBI & Listing Compliances:-

1. The Company’s shares are suspended from trading at Bombay Stock Exchange Ltd. (BSE).However the Company has applied
for Revocation of suspension of Share with BSE which is yet to be concluded. The Company has automatically delisted its trading
from Madhya Pradesh Stock Exchange (MPSE) and Ahmedabad Stock Exchange (ASE) due to exit order issued by SEBI.

Management Comments: The Company has complied with almost all the condition of revocation of suspension of share of the
company and company has taking regular follow up from the stock exchange and the management is making all the possible
efforts for revocation of suspension of trading at the BSE Ltd., which is having nationwide terminals.

ENHANCING SHAREHOLDERS VALUE

Your Company believes that its Members are among its most important stakeholders. Accordingly, your Company’s operations
are committed to the pursuit of achieving high levels of operating performance and cost competitiveness, consolidating and
building for growth, enhancing the productive asset and resource base and nurturing overall corporate reputation. Your Company
is also committed to creating value for its other stakeholders by ensuring that its corporate actions positively impact the socio¬
economic and environmental dimensions and contribute to sustainable growth and development.

CORPORATE GOVERNANCE

Non-applicability of Corporate Governance provisions of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015:

Pursuant to the provisions of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
compliance with the provisions of the Corporate Governance are not applicable to the Companies having paid up equity share
capital not exceeding
Rs. 10 Crore and Net Worth not exceedingRs. 25 Crore, as on the last day of previous financial year or on
the Companies listed on SME Exchange.

In view of above, as per the latest Audited Financial Statement of the Company as at 31stMarch 2024, the paid-up Equity Share
Capital and the Net Worth of the Company does not exceed the respective threshold limit of Rs. 10 Crore and Rs. 25 Crore, as
aforesaid; hence compliance with the provisions of the Corporate Governance are not applicable to the Company.

However, the Company is making compliances of some of the regulations voluntarily in the interest of the best corporate
governance and a separate section on corporate governance practices followed by the Company, together with the Corporate
Governance Report is attached as “
Annexure-4”.

MD & CFO certification

Certificate obtained from Mr. Harman Singh Hora, Managing Director and Chief Financial Officer, pursuant to Regulation 17(8)
of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and for the year under review was placed before the
Board at its meeting held on 30thMay, 2024.

A copy of the certificate on the financial statements for the financial year ended March, 31, 2024is annexed along with this Report
as
"Annexure 5".

Code of Conduct and ethics

The Company has formulated the code of conduct for the Board members and senior executives under the SEBI (Substantial
Acquisition of Shares and Takeovers) Regulations 2011 and the SEBI (Prohibition of Insider Trading) Regulations, 2015. A
certificate to that effect for the proper compliances given by the Managing Director is annexed as the “
Annexure-6” with this
Report.

PARTICULARS OF REMUNERATION OF EMPLOYEES

During the year under review, none of the employee of the company is drawing more than Rs.1,02,00,000/- per annum or
Rs.8,50,000/- per month for the part of the year. Therefore, Particulars of the employees as required under Section 197 of
Companies Act, 2013 read with Rule 5 (2) & Rule 5 (3) of Companies (Appointment and Remuneration of Managerial Personnel)
Rules 2014 are not applicable for the financial year ended 31st March, 2024.

None of the Managerial Personnel is drawing any remuneration and anyother monetary and non-monetary benefit from your
company therefore Disclosures pertaining to remuneration and other details as required under section 197(12) of the Act read with
Rule 5 and 8(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not applicable for
the financial year ended 31st March, 2024

CONSOLIDATED FINANCIAL STATEMENTS

Since your company is not having any subsidiary company, associate company or joint venture, therefore it is not required to
prepare Consolidated Financial Statements for the year 2023-24.

ENERGY CONSERVATION, TECHNOLOGYABSORPTION AND FOREIGN EXCHANGEEARNINGS AND OUTGO

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under
Section 134(3)(m) of the Companies Act, 2013read with Rule, 8 of Companies (Accounts)Rules, 2014,is annexed herewith as
“Annexure-7”.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments, if any, affecting the financial position of the Company which had
occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

EXTRACT OF ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return of the Company in Form MGT-7 for FY
2023-24, is available on the Company’s website at
https://raniitsecurities.com

PREVENTION OF INSIDER TRADING

In view of the SEBI (Prohibition of Insider Trading) Regulation, 2015Due to suspension of Trading at BSE, the Company unable
to trade but adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the
Directors and designated employees of the Company.

The Company has also maintain Structured Digital Database on Insider Trading in pursuant to Reg. 3(5) and 3(6) of SEBI
(Prohibition of Insider Trading) Regulation, 2015 to make the track record of communication or dissemination of any
UPSI/confidential information by an insider and the information can be used by the person himself or any other person on his
behalf.

ADEQUECY OF THE INTERNAL FINANCIAL CONTROL

The Company is having adequate internal control according to the size of the Company, it has internal auditors and the Audit
Committee and the vigil mechanism system is also in force. Further that the statutory auditors has also examined the internal
control procedure and provided their report as an annexure to the Auditors Report.

GENERAL

a) The company has not filed any application or there is no application or proceeding pending against the company under
the Insolvency and Bankruptcy Code, 2016 during the year under review,

b) There is no requirement to conduct the valuation by the bank and no Valuation done at the time of one-time Settlement
during the period under review,

c) The Company has complied with the applicable Secretarial Standards under the Companies Act, 2013.

d) Your Company has not declared and approved any Corporate Action viz buy back of securities, mergers and de¬
mergers, split of any securities and has not failed to implement or complete the Corporate Action within prescribed
timelines. However, during the period under review, the company has declared and paid dividend and issued equity
shares pursuant to conversion of warrants into equity shares and issue and allot Bonus Shares to the members of the
company during the period under review in compliance with the applicable laws of the Companies Act, 2013 and SEBI
regulations,

e) The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI (Listing Obligations & Disclosure

f) Requirements) Regulations, 2015, is not applicable to your Company for the financial year ending March 31, 2024

ACKNOWLEDGEMENTS

Your Directors thank the various Central and State Government Departments, Organizations and Agencies for the continued help
and co-operation extended by them. The Directors also gratefully acknowledge all stakeholders of the Company viz. customers,
members, vendors, banks and other business partners for the excellent support received from them during the year. The Directors
place on record their sincere appreciation to all employees of the Company for their unstinted commitment and continued
contribution to the Company

For and on behalf of the Board

Place: Indore Harman Singh Hora

Date: 13.08.2024 Chairman & Managing Director

DIN: 00209317


Mar 31, 2013

To the Members

The Directors are pleased to present the 19"1 Annual Report and the Audited Account for the financial year ended 31" March 2013.

Financial Results 2012-2013 2011-2012 (Amount in Rs.) (Amount in Rs.)

Revenue from Operations and other Income 4679993.00 3803340.40

Profit before Financial Cost, Depreciation, Exceptional, Other

Expenses and Tax Expenses 1452631.00 964812,59

Less: Financial Cost 45902.60 115779.50

Less; Depreciation 140211.18 149995.92

Less: Exceptional Items 00.00 00.00

Less: Tax Expenses 654052.00 397409.40

Profit for the year 612465.22 301627.77

Profit brought forward from previous year 2667606.61 2426304.39

Profit Transferred to Special Reserve 122493.04 60325.55

Surplus Carried to Balance Sheet 3157578.79 2667606.61

- Performance Review

The operating income during the year was Rs. 46.79 lacs compared with Rs. 38.03 lacs in 2011-12, 18.75% higher compared with 2011-12.

The Company has made profit after tax of Rs. 6.12 lacs as against Rs. 3.02 lacs profit during the previous year, a growth of 50.65 %.

- Dividend

Your directors do not recommend any dividend for the year ended 31* March 2013.

- Public Deposits

During the year under review, your Company has not accepted any deposits from Public under Section 58A of Companies Act, 1956.

- Directors

In terms of the provisions of Sections 255 and 256 of the Companies Act, 1956 and Articles of Association of the Company, Mr. Pawan Kumar Mishra and Mrs. Urmila Gambhir Directors of the Company retires at the ensuing Annual General Meeting and. being eligible, offers themselves for reappointment.

Mr. Yugansh Soni were appointed as additional directors of the company w.e.f 30lh July 2013 recommend their appointment on Board of the Company at the forth coming Annual General Meeting.

Mr. Kamalbir Singh Ajmani, have resigned from the Board as on 22/07/2013. Your directors wish to place on record their sincere appreciation of the valuable contribution made by them to the Company,

- Company Secretary & Compliance Officer

Ms, Surbhi Jain has been appointed as Company Secretary and Compliance Officer of the Company w.e.f 13/04/2013. Ms. Sakina Dickeewala tendered her resignation from the post of Compliance Officer cum Company Secretary w.e.f 29/12/2012.

- S cc re la ri a I Co m pi i a nee Ce rti fie a t e

In accordance with the requirement of provisions of Section 3 S3 A of the Companies Act, 1956, a Compliance Certificate from a Practicing Company Secretary for the year ended on 3IU March'' 1013 is attached herewith.

- Director''s Responsibility Statement

Pursuant to the requirements under Section 217 (2 A A) of the Companies Act, 1956 with respect to the Director''s Responsibility Statement, the Directors confirm that:

» that in the preparation of the annual accounts, the applicable accounting standards have been followed;

- that we have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2011-2012 and of the profit of the Company for that year;

- that we have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities:

- that we have prepared the annual accounts on a going concern basis.

- Statutory Auditors

The Auditors of the Company, M/s Subhash Chand Jain Anurag & Associates, Chartered Accountants, Indore retires at the conclusion of the forthcoming Annual General Meeting and being eligible, offer them for re-appointment.

- Auditor''s Report

The Auditors Report on the Accounts of the Company for the year under review is self-explanatory and requires no comments,

- Particulars of Employees

During the year under review, no employee of the Company was in receipt of remuneration exceeding the limits as laid down in Section 217(2A) of the Companies Act, 1956.

- Listing with Stock Exchange

Equity share of the Company are listed with the Stock Exchange, Mumbai, MP. Stock Exchange, indore and the Stock Exchange, Ahmadabad. The listing fees payable to the said stock Exchanges for the year have been paid.

¦ Revocation of Suspension

The Company is pursuing with Bombay Stock Exchange for revocation of suspension of trading of its securities. The Board of directors expects that the trading of securities of the Company at BSE will resume shortly.

- Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The company is engaged in rendering financial services, the Information in respect of Conservation of Energy pursuant to provisions of Section 2I7(l)(e)of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not required to be given.

Technology Absorption, Adaptation and Innovation: Nil

The Company has no specific Research & Development department.

There is no foreign exchange earnings or out go during the year under review.

- Corporate Governance Report

A report on Corporate Governance along with a certificate from the Statutory Auditors has been included in the Annual Report detailing the compliances of corporate governance norms as enumerated in Clause 49 of the Listing Agreements with the Stock Exchanges,

- Compliance Certificate

A Certificate from the Auditor of the Company regarding the Compliance with the Corporate Governance as provided in Clause 49 of the listing Agreement is attached to this report.

- Management Discussion and Analysis

A Management Discussion and Analysis Report have been attached and forms part the Director''s Report.

- RBI Registration

The registration granted by Reserve Bank of India as Non-Banking Financial Company is also continues during the year under review. Further, pursuant to Non-Banking Financial Companies Auditor''s Report (Reserve Bank of India) Directions, 1998, a report from the statutory auditors of the company has been received by the Board of Directors of the Company. This report shows that the Company has complied with all the directions and prudential norms as prescribed under Reserve Bank of India Act, 1934.

- Acknowledgement

Your Directors place on record their appreciation for the overwhelming co-operation and assistance received from investors, customers, business associates, bankers, vendors, regulatory and governmental authorities. Your Directors also lhank the employees at all levels, who through their dedication, co- operation, support and smart work have enabled the Company to achieve rapid growth. For and on behalf of the board of director

Sd/-

Taranjeet Singh Hora

{Chairman & Managing Director)

Date: 30-08-2013

Place: Indore


Mar 31, 2011

The Directors have pleasure in presenting their 17th annual report and Account for the year ended 31st March 2011.

1. Financial Results

2010-11 2009-10 (Amount in Rs.) (Amount in Rs.)

Gross Income 4718738.11 4383418.63

Total Expenditure (including depreciation) 2777797.64 3445910.22

Net Profit/(Loss) (Before Taxation) 1940940.47 937508.41 Less : Provision for Tax

- Current 532746.00 261325.18

- Deferred 5338.00 -701.17

Less: Earlier Year Tax

Net profit/(Loss) 1402856.47 676884.40

Profit b/f from previous year 1304018.92 762511.40

Profit Transferred to Special Reserve 280671.00 135376.88

Surplus Carried to Balance Sheet 2426304.39 1304018.92



2. Dividend

Your directors do not recommend any dividend for the year ended 31st March' 2011.

3. Operations

The operating income for the year under review was net profit of Rs. 14.03 Lakh as against a net profit of Rs.6.77 Lakh in the previous year.

4. Directors

In terms of the provisions of Sections 255 and 256 of the Companies Act, 1956 and Articles of Association of the Company, Mr. Taranjeet Singh Hora, Mr. Manmohan Gambhir. Mrs. Urmila Gambhir and Mr. Pawan Kumar Mishra, Directors of the Company retires at the ensuing Annual General Meeting and, being eligible, offered themselves for reappointment.

5. Fixed Deposits

The company has not accepted any deposits with in meaning of section 58A and 58AA of the companies, Act 1956 and rule framed there under.

6. Directors' Responsibility Statement

In accordance with Section 217 (2 A A) of the Companies Act, 1956 the Directors confirm that:

- that in the preparation of the annual accounts, the applicable accounting standards have been followed;

- that we have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2010-2011 and of the profit of the Company for that year;

- that we have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- that we have prepared the annual accounts on a going concern basis

7. Corporate Governance

A report on Corporate Governance along with a certificate from the Statutory Auditors has been included in the Annual Report detailing the compliances of corporate governance norms as enumerated in Clause 49 of the Listing Agreements with the Stock Exchanges.

8. Compliance Certificate [Clause 49]

A Certificate from the Auditor of the Company regarding the Compliance with the Corporate Governance as provided in Clause 49 of the listing Agreement is attached to this report.

9. Secretarial Compliance Certificate :

In accordance with the requirement of provisions of Section 3 83 A of the Companies Act, 1956, a Compliance Certificate from a Practicing Company Secretary for the year ended on 31-March-2011 is attached herewith.

10. Management Discussion and Analysis |

A Management Discussion and Analysis Report have been attached and forms part the Directors' Report.

11. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

Since the company is engaged in rendering financial services, the Information in respect of Conservation of Energy pursuant to provisions of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not required to be given.

The Company has no specific Research & Development department.

There is no foreign exchange earning or out go during the year under review.

12. Particulars of Employees

During the year under review, no employee of the Company was in receipt of remuneration exceeding the limits as laid down in Section 217(2A) of the Companies Act, 1956.

13. Auditors

The Auditors of the Company, M/s Subhash Chand Jain Anurag & Associates, Chartered Accountants, Indore retires at the conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re- appointment.

14. Auditors' Report:

The Auditors' Report on the Accounts of the Company for the year under review is self-explanatory and requires no comments.

15. Listing with Stock Exchange

Equity share of the Company are listed with The Stock Exchange, Mumbai, M.P. Stock Exchange, Indore and The Stock Exchange, Ahmedabad. The listing fees payable to the said stock Exchanges for the year have been paid.

16. RBI Registration

The registration granted by Reserve Bank of India as Non-Banking Financial Company is also continues during the year under review. Further, pursuant to Non-Banking Financial Companies Auditor's Report (Reserve Bank of India) Directions, 1998, a report from the statutory auditors of the company has been received by the Board of Directors of the Company. This report shows that the Company has complied with all the directions and prudential norms as prescribed under Reserve Bank of India Act, 1934.

17. Conclusion

Your Directors place on record their appreciation for the overwhelming co-operation and assistance received from investors, customers, business associates, bankers, vendors, regulatory and governmental authorities. Your Directors also thank the employees at all levels, who through their dedication, co-operation, support and smart work have enabled the Company to achieve rapid growth.



For and on behalf of the board of directors



Taranjeet Singh Hora

(Chairman & Managing Director)

Date : 25-08-2011

Place : Indore


Mar 31, 2010

The Directors have pleasure in presenting their 16th annual report and Account for the year ended 31st March 2010.

1. Financial Results

2009-10 2008-09 (Amount in Rs.) (Amount in Rs.)

Gross Income 4383418.63 3746275.42

Total Expenditure (including depreciation) 3445910.22 3526391.40

Net ProfuV(Loss) (Before Taxation) 937508.41 219884.02

Less : Provision for Tax

- Current 261325.18 248384.93

- Deferred -701.17 -6196.00

- Provision for FBT Nil 28331.00

Less : Earlier Year Tax

Net Profit/(Loss) 676884.40 -50635.91

Profit b/ffrom previous year 762511.40 813147.31

Profit Transferred to Special Reserve 135376.88 0.00

Surplus Carried to Balance Sheet 1304018.92 762511.40

2. Dividend

Your directors do not recommend any dividend for the year ended 31st March 2010.

3. Operations

The operating income for the year under review was net profit of Rs.6.77 Lakh as against a net loss of Rs.0.51 Lakh in the previous year.

4. Directors

In terms of the provisions of Sections 255 and 256 of the Companies Act, 1956 and Articles of Association of the Company, Mr. Ramesh Kumar Gambhir, Ms. Sukhvinder Hora and Mr. Amarjeet Singh Sudan, Directors of the Company retires at the ensuing Annual General Meeting and, being eligible, offered themselves for reappointment.

During the year Mr. Manoj Kumar Taneja, Director of the Company has resigned from his office due to his previous occupations w.e.f. 30-04-2010. Your Directors wish to place on record their sincere appreciation for the valuable contribution made by him to the Company.

5. Fixed Deposits

The company has not accepted any deposits with in meaning of section 58A and 58AA of the companies. Act 1956 and rule framed there under.

6. Directors Responsibility Statement

In accordance with Section 217 (2AA) of the Companies Act, 1956 the Directors confirm that :

- that in the preparation of the annual accounts, the applicable accounting standards have been followed;

- that we have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2009-2010 and of the profit of the Company for that year;

- that we have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- that we have prepared the annual accounts on a going concern basis

7. Corporate Governance

A report on Corporate Governance along with a certificate from the Statutory Auditors has been included in the Annual Report detailing the compliances of corporate governance norms as enumerated in Clause 49 of the Listing Agreements with the Stock Exchanges.

8. Compliance Certificate [Clause 49]

A Certificate from the Auditor of the Company regarding the Compliance with the Corporate Governance as provided in Clause 49 of the listing Agreement is attached to this report.

9. Secretarial Compliance Certificate:

In accordance with the requirement of provisions of Section 383A of the Companies Act, 1956, a Compliance Certificate from a Practicing Company Secretary for the year ended on 3 l-March-2010 is attached herewith.

10. Management Discussion and Analysis

A Management Discussion and Analysis Report have been attached and forms part the Directors Report.

11. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo:

Since the company is engaged in rendering financial services, the Information in respect of Conservation of Energy pursuant to provisions of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not required to be given.

The Company has no specific Research & Development department.

There is no foreign exchange earning or out go during the year under review.

12. Particulars of Employees

During the year under review, no employee of the Company was in receipt of remuneration exceeding the limits as laid down in Section 217(2 A) of the Companies Act, 1956.

13. Auditors

The Auditors of the Company, M/s Subhash Chand Jain Anurag & Associates, Chartered Accountants. Indore retires at the conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re- appointment.

14. Auditors Report:

The Auditors Report on the Accounts of the Company for the year under review is self-explanatory and requires no comments.

15. Listing with Stock Exchange

Equity share of the Company are listed with The Stock Exchange, Mumbai, M.P. Stock Exchange, Indore and The Stock Exchange, Ahmedabad. The listing fees payable to the said stock Exchanges for the year have been paid.

16. RBI Registration

The registration granted by Reserve Bank of India as Non-Banking Financial Company is also continues during the year under review. Further, pursuant to Non-Banking Financial Companies Auditors Report (Reserve Bank of India) Directions, 1998, a report from the statutory auditors of the company has been received by the Board of Directors of the Company. This report shows that the Company has complied with all the directions and prudential norms as prescribed under Reserve Bank of India Act, 1934.

17. Conclusion

Your Directors place on record their appreciation for the overwhelming co-operation and assistance received from investors, customers, business associates, bankers, vendors, regulatory and governmental authorities. Your Directors also thank the employees at all levels, who through their dedication, co-operation, support and smart work have enabled the Company to achieve rapid growth.

For and on behalf of the board of directors

Sd/-

Taranjeet Singh Hora

(Chairman & Managing Director)

Date: 18-08-2010

Place: Indore


Mar 31, 2009

The Directors have pleasure in presenting their 15* annual report and Account for the year ended 31st March 2009.

1. Financial Results

2008-09 2007-08 (Amount in Rs.) (Amount in Rs.)

Gross Income 3746275.42 3327796.18

Total Expenditure (including depreciation) 3526391.40 2967980.80

Net Profit/(Loss) (Before Taxation) 219884.02 359815.38

Less : Provision for Tax

Current 248384.93 130210

Deferred -6196.00 -26143

Provision for FBT 28331.00 27673 Less : Earlier Year Tax

Net PronV(Loss) for the year -50635.91 228075.38

Profit b/f from previous year 813147.31 630686.93

Profit Transferred to Special Reserve 0.00 45615

2. Dividend

In view of inadequate profits, your directors are unable to recommend any dividend for the year ended 31st March 2009.

3. Operations

The operating income for the year under review was net loss of Rs. 05.06 Lakh as against a profit of Rs. 2.28 Lakh in the previous year.

4. Directors

In terms of the provisions of Sections 255 and 256 of the Companies Act, 1956 and Articles of Association of the Company, Mrs. Ranjeet Kaur Hora and Ms. Sukhvinder Kaur Hora, Directors of the Company retires at the ensuing Annual General Meeting and, being eligible, offered themselves for reappointment.

In terms of Section 257 of the Companies act, 1956, the Company has received a notice in writing from a member along with the requisite deposit, proposing the andidature of Mr. Pawan Mishra for the office of Director. Your Directors recommend his appointment on Board of Directors of the Company.

5. Fixed Deposits

The company has not accepted any deposits with in meaning of section 58A and 58AA of the companies, Act 1956 and rule framed there under.

6. Directors Responsibility Statement

In accordance with Section 217 (2AA) of the Companies Act, 1956 the Directors confirm that : that in the preparation of the annual accounts, the applicable accounting standards have been followed; that we have selected such accounting policies and applied them consistently and made judg- ments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2008-2009 and of the profit of the Company for that year; that we have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; that we have prepared the annual accounts on a going concern basis

7. Corporate Governance

A report on Corporate Governance along with a certificate from the Statutory Auditors has been included in the Annual Report detailing the compliances of corporate governance norms as enumer- ated in Clause 49 of the Listing Agreements with the Stock Exchanges.

8. Compliance Certificate [Clause 49]

A Certificate from the Auditor of the Company regarding the Compliance with the Corporate Gover- nance as provided in Clause 49 of the listing Agreement is attached to this report.

9. Management Discussion and Analysis

A Management Discussion and Analysis Report have been attached and forms part the Directors Report.

10. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo: Since the company is engaged in rendering financial services, the Information in respect of Conserva- tion of Energy pursuant to provisions of Section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is not required to be given.

The Company has no specific Research & Development department.

There is no foreign exchange earning or out go during the year under review.

11. Particulars of Employees

During the year under review, no employee of the Company was in receipt of remuneration exceed- ing the limits as laid down in Section 217(2A) of the Companies Act, 1956.

12. Auditors

The Auditors of the Company, M/s Subhash Chand Jain Anurag & Associates, Chartered Accountants, Indore retires at the conclusion of the forthcoming Annual General Meeting and being eligible, offer themselves for re-appointment.

13. AuditorsReport:

The Auditors Report on the Accounts of the Company for the year under review is self-explanatory and requires no comments.

14. Listing with Stock Exchange

Equity share of the Company are listed with The Stock Exchange, Mumbai M.P. Stock Exchange, Indore and The Stock Exchange, Ahmedabad. The listing fees payable to the said stock Exchanges for the year have been paid.

15. RBI Registration

The registration granted by Reserve Bank of India as Non-Banking Financial Company is also continues during the year under review. Further, pursuant to Non-Banking Financial Companies Auditors Report (Reserve Bank of India) Directions, 1998, a report from the statutory auditors of the company has been received by the Board of Directors of the Company. This report shows that the Company has complied with all the directions and prudential norms as prescribed under Reserve Bank of India Act, 1934.

16. Conclusion

Your Directors place on record their appreciation for the overwhelming co-operation and assistance received from investors, customers, business associates, bankers, vendors, regulatory and govern- mental authorities. Your Directors also thank the employees at all levels, who through their dedica- tion, co-operation, support and smart work have enabled the Company to achieve rapid growth.

For and on behalf of the board of directors

Sd/-

Taranjeet Singh Hora

(Chairman & Managing Director)

Date : 28-08-2009 Place: Indore

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