To,

The Members of Morgan Ventures Limited

Your Directors are pleased to present the 38th Annual Report on the business
and operations together with Audited Balance Sheet as at 31stMarch, 2025 and
Profit & Loss Account & Cash Flow Statement of the Company for the period ended on
31st March, 2025.

1. BUSINESS PERFORMANCE AND FINANCIAL HIGHLIGHTS:-

1.1. Financial Results:

Your Company's performance during the year as compared with the previous year is
summarized as below: 

(Amount in Rs. Thousands)


  

    
Particulars
    
For the Current Year ended 31.03.2025
    
For the Previous Year ended 31.03.2024
  
  

    
Revenue from Operations
    
4,53,110.56
    
2,30,066.56
  
  

    
Other Income
    
13,917.50
    
-
  
  

    
Total Income
    
4,67,028.06
    
2,30,066.56
  
  

    
Less: Total Expenses
    
1,36,216.16
    
91,388.61
  
  

    
Profit before Tax (PBT)
    
3,30,811.90
    
1,38,677.95
  
  

    
Less: Tax Expenses
    

    

  
  

    
Current Tax
    
4,625.10
    
3,192.86
  
  

    
Adjustment of tax relating to earlier periods
    
9,022.78
    
-
  
  

    
Adjustment of MAT Credit Entitlement
    
-
    
-
  
  

    
Deferred Tax
    
60,981.43
    
36,033.19
  
  

    
Profit after Tax (PAT)
    
2,56,182.59
    
99,451.90
  
  

    
Other Comprehensive Income
    
-
    
-
  
  

    
Total Comprehensive Income for the year,
    
2,56,182.59
    
99,451.90
  
  

    
net of tax
    

    

  


1.2. Business Performance:

During the year under review, the total income of the company for the said period was
Rs. 4,67,028.06 (in Rs.'000) against Rs. 2,30,066.56 (in Rs.'000) in the last year. The
net profit / (loss) after tax and adjustment relating to earlier years for the period
under review was Rs. 2,56,182.59 (in Rs.'000) as against Rs. 99,451.90 (in Rs.'000)in the
last year. The company received good investment opportunities and made investments of
significant amount of money in Alternate Investment Funds (AIFs) after taking professional
advices from Fund Managers and maintained consistency in business growth of the company.

1.3. Statement of Company's Affairs:

During the year under review, the company explored and made investment in new
investment opportunities in Equity Investments, Alternative Investments Funds and Other
Investments Avenues from which the company is expecting good return in future. The company
used own resources and loan funds for investments in Equity Instrument, units of AIF
category II, units of AIF category III and Onshore Funds.

2. DIVIDEND:

With a view to conserve the resources to meet the fund requirements of the Company,
your directors express their inability to recommend dividend for the year under report.

3. TRANSFER TO RESERVE:

The Board of Directors of your company, has decided not to transfer any amount to the
Reserves for the year under review.

4. MATERIAL CHANGES & COMMITMENTS:

There have been no material changes and commitment which affect the financial position
of the company which have occurred between the end of the financial year to which the
financial statements relate and the date of this Report.

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

There is no change in the nature of business of your Company during the year under
review.

6. SHARE CAPITAL:

The paid up Equity Share Capital as on 31st March, 2025 was Rs.9,89,87,000 comprising
of 98,98,700 Equity Shares of 10 each. During the year under review, the Company has not
issued any further shares to the members or general public.

7. STOCK EXCHANGE LISTING & COMPLIANCES:

The Equity Shares of your company are continued to be listed on Bombay Stock Exchange
Limited, Mumbai. The company confirms that the Annual Listing fees to Bombay Stock
Exchange Limited has been paid and is up to date. NSDL & CDSL, Depositories are
providing their services to our valued shareholders/ members. Your company has paid Annual
Fees to all of them for the financial year 2024-2025.

8. PUBLIC DEPOSITS:

The company had not accepted, invited or renewed any public deposits during the period
financial year 2024-2025. The company has no pending deposits, which are due or unclaimed
at the end of the year.

9. JOINT VENTURES OR ASSOCIATES OR SUBSIDIARY COMPANIES:

During the period under review, the company has no joint ventures, associates or
subsidiary company.

10. AUDITORS AND REPORTS:-

10.1. Statutory Auditors and Report:

M/s. R. Tayal & Associates, Chartered Accountants (ICAI Firm Registration No.
0006969N) who were appointed as the Statutory Auditors of the Company for the period of 5
years at 36th Annual General Meeting had tender their resignation as Statutory
Auditors due to their pre-occupation and there resignation had been taken on record w.e.f.
21st August, 2024.

Due to casual vacancy caused by resignation of Statutory Auditors and pursuant to
Section 139 (8) of the Companies Act, 2013, The appointment of M/s. D H A & Co.,
Chartered Accountants (ICAI Firm Registration No. 025446N) as the Statutory Auditors of
the Company were recommended by Audit Committee and Board Members in their meeting held on
22nd August, 2024. There appointment had been approved by the Members of the
Company in their 37th Annual General Meeting held on 20th September,
2024.

Pursuant to Section 139 & 142 of the Companies Act, 2013 read with rules framed
thereunder, the Members approved the appointment of M/s. D H A & Co., Chartered
Accountants (ICAI Firm Registration No. 025446N) as the Statutory Auditors of the Company
for the Period of 5 years in their 37th Annual General Meeting held on 20th
September, 2024.

There are no audit qualifications, reservations, disclaimers, or adverse remarks, or
reporting of fraud in the statutory auditors report given by M/s. D H A & Co..

The observations and comments given by the Auditors in their report read together with
notes on Financial Statements are self-explanatory and hence do not call for any further
comments under Section 134 of the Companies Act, 2013.

10.2. Details of Fraud Reporting by Auditors:

As per Auditor's report, no fraud under Section 143(12) of the Companies Act, 2013 and
rule 13(3) of the Companies (Audit and Auditors) Rules, 2014 is reported by the Auditor.

10.3. Board's comment on the Auditors' Report:

The observations of the statutory auditors when read together with the relevant notes
to the accounts and accounting policies are self-explanatory.

10.4. Secretarial Auditors and Report:

Pursuant to the provisions of Section 204(1) of the Companies Act 2013 read along with
Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment
Rules, 2020 and other applicable provisions, if any, of the Companies Act 2013.

The Board of Directors of your company appointed M/s. Anuj Gupta & Associates (CP.
No. 13025), Practicing Company Secretaries as Secretarial Auditors of the company for the
financial year 2023-2024 at meeting held on 29th May, 2024.

The Secretarial Audit Report for the financial year 2024-25, given by M/s Anuj Gupta
& Associates, (CP.No.13025), Delhi is attached to this Report. There are no
qualifications, reservations, disclaimers, or adverse remarks in the said Secretarial
Audit Report. Your company complies with the application Secretarial Standards issued by
the Institute of Company Secretaries of India and notified by the Ministry of Corporate
Affairs.

The Secretarial Auditor Report is attached to this report as "Annexure 1".

10.5. Internal Auditors and Report:

Pursuant to the provisions of Section 138 of the Companies Act, 2013 read along with
rule 13 of the Companies (Accounts) Rules, 2014 and other applicable provisions, if any,
of the Companies Act, 2013.

The Board of Directors of your company appointed M/s. Singla & Singla, (FRN
008779N), Practicing Chartered Accountants as Internal Auditors of the company for the
financial year 2024-2025 at meeting held on 29th May, 2024. However, they
resigned from their office as Internal Auditors w.e.f. 13th August, 2024 due to
their preoccupancy.

After taking into consideration the resignation of M/s. Singla & Singla, (FRN:
008779N), Practicing Chartered Accountants. The Board of Directors of your company had
appointed M/s. H. Tara & Co., (FRN: 100265), Practicing Cost Accountants as Internal
Auditors of the company for the financial year 2024-2025 at meeting held on 13th August,
2024.

The Internal Audit conducted the internal audit as per internal audit standards and
places before the board the Internal audit report from time to time.

11. ANNUAL SECRETARIAL COMPLIANCE REPORT:

The company had appointed M/s. Anuj Gupta & Associates, Practicing Company
Secretaries to undertake an audit for the financial year ended 31st March, 2025
for all applicable compliances as per the regulation 24A of the listing regulations and
circulars/ guidelines issued there under.

The Annual Secretarial Compliance Report issued by M/s. Anuj Gupta & Associates,
Practicing Company Secretaries had submitted to the stock exchange as per the listing
regulations.

12. FAMILIARIZATION POLICY:

Pursuant to Regulation 25(7) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Board has framed a policy to familiarize the Independent Directors
about the Company. The Policy is available on the website of the Company ".www
morganventures.in.

13. CFO CERTIFICATION:

Pursuant to Regulation 17(8) read with Schedule II Part B of the Listing Regulations, a
certificate from the Chief Financial Officer ('CFO') and Managing Director of the Company
have certified and confirming the correctness of the Financial Statements (Standalone) and
Cash Flow Statements (Standalone), adequacy of the internal control measures for financial
reporting for the year ended March 31,2025. The certificate dated 26th May, 2025 which is
forms part of this report as "Annexure-2".

14. CERTIFICATE ON NON-DISQUALIFATION OF DIRECTORS:

None of the Directors on the Board of the Company for the FY ended March 31, 2025, have
been debarred or disqualified from being appointed or continuing as Director of the
Company. The Company have received a Certificate from Practicing Company Secretary dated
16th May, 2025, which is forms part of this report as "Annexure-3".

15. CORPORATE SOCIAL RESPONSIBILITY:

As per Section 135 of Companies Act, 2013, Every Company having net worth of Rs. five
hundred crores or more or turnover of rupees one thousand crores or more or a net profit
of Rs. five crores or more during any financial year shall constitute a Corporate Social
Responsibility Committee of the Board consisting of three or more directors. As the net
profit of the company during year under review was more that Rs. Five crore, so the
provisions of aforesaid section applicable to your company. Further, the company
constituted CSR Committee formulated and recommended a CSR Policy in terms of Section 135
of the Act, 2013 along with a list of projects / programs to be undertaken for CSR
spending in accordance with the Companies (Corporate Social Responsibility Policy) Rules,
2014. The company undertaken projects / programs, which are falling within the CSR
activities as specified under Schedule VII to the Act, 2013.

The CSR Committee consist the following members:

Mr. Kuldeep Kumar Dhar (Chairperson)

Mr. Krishan Kumar Gupta (till 31st December, 2024)

Mr. Yogesh Kumar Gupta (w.e.f. 04th January, 2025)

Mrs. Madhu

The Committee shall be responsible to formulate and recommend to the Board a CSR policy
(Corporate Social Responsibility Policy) for the activities prescribed under the Companies
Act, 2013 and recommend the amount of expenditure to be incurred on the activities
prescribed under CSR Policy and monitor the CSR Policy of the Company from time to time.
The Company has carried out its obligations under CSR applicable provisions as provided
under the Companies Act.

The company has framed a Corporate Social Responsibility (CSR) Policy as required under
Section 135 of the Companies Act, 2013 read with Rule 8 of the Companies (Corporate Social
Responsibility Policy) Rules, 2014, to oversee the CSR activities initiated by the company
and the policy may be accessed on the company's website.

Annual report on CSR activities undertaken by the company during the financial year
ended on 31st March, 2025 in the prescribed format is attached as
"Annexure-4" forming part to this report.

16. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

In terms of Regulation 34 of the Listing Regulations, Management Discussion and
Analysis Report for the financial year under review is presented in a separate section,
forming an integral part of this Annual Report as "Annexure- 5".

17. CORPORATE GOVERNANCE:

Pursuant to Schedule V of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, Corporate Governance Report is attached as "Annexure-6"
herewith forms part to this report.

The Company has been practicing the principles of good corporate governance over the
years and lays strong emphasis on transparency, accountability and integrity.

A separate report on Corporate Governance is given in the Annual Report are annexed
hereto as part of Annual Report along with Auditors' Certificate on its due compliance.

The Managing Director, Directors and the Chief Financial Officer (CFO) of the Company
have certified to the Board on financial statements and other matters in accordance with
the Regulation 17 (8) of the Listing Regulations pertaining to Managing Director / CFO
certification for the financial year ended 31stMarch 2025.

18. CORPORATE GOVERNANCE CERTIFICATE:

The Compliance certificate from the practicing company secretary regarding compliance
of corporate governance is annexed with the corporate governance report.

19. PARTICULARS OF EMPOLYEES AND REMUNERATION:

Disclosure pertaining to remuneration and other details as required under Section
197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is annexed to the Report as "Annexure-7".
Statement containing particulars of top 10 employees and particulars of employees as
required under Section 197 (12) of the Act read with Rule 5(2) and (3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided as a
separate "Annexure -7" forming part of this report.

19.1. Employees Relationship:

The employees at all ranks of the Company have extended their whole-hearted cooperation
to the Company for the smooth conduct of the affairs of the Company and the employee
relations of the Company have been Cordial. Directors wish to place on record their deep
sense of appreciation for all the employees whose commitment, cooperation, active
participation, dedication and professionalism has made the organization's significant
growth possible.

20. DIRECTORS & KEY MANAGERIAL PERSONNEL

20.1. Change in composition of Board of Directors:

Mrs. Madhu (DIN 09065199), Director of the company, retires by rotation at ensuing
Annual General Meeting and being eligible, offers herself for reappointment.

Brief profile of the director being re-appointed or appointed as required under
regulation 36(3) of listing regulations and secretarial standards on general meetings are
provided in the Notice of Forthcoming Annual General Meeting of the company.

Mr. Krishan Kumar Gupta (DIN 00062385), had retired from the position of Independent
Director w.e.f. 31st December, 2024.

Mr. Yogesh Kumar Gupta (DIN 00022200), had been appointed as Independent Director
w.e.f. 04th January, 2025 and his appointment as Independent Director is
confirmed by Shareholders by way of passing of Special Resolution through Postal Ballot
dated 12th February, 2025.

20.2. Declaration given by Independent Directors:

Mr. Krishan Kumar Gupta (DIN 00062385) (till 31st December, 2024), Mr.
Sanjiv Bansal (DIN No. 00417480) and Mr. Yogesh Kumar Gupta (DIN 00022200) w.e.f. 04th
January, 2025 appointed as Non-Executive and Independent Directors, have given the
necessary declaration under Section 149, Section 164 and Section 184 of the Companies Act,
2013. These declarations have been placed before the Board and were duly taken on record.

20.3. Independent Directors (ID):

All IDs hold office for a fixed term of five years and are not liable to retire by
rotation. Mr. Krishan Kumar Gupta (DIN 00062385) is retire from his office as Independent
Director w.e.f. 31st December, 2024, Mr. Sanjiv Bansal (DIN 00417480),was
appointed as Additional and Independent Directors for a term of 5 years by the board at
its meeting held on 17thJune, 2021 and the same were approved by the
shareholders at the AGM held on 14th September, 2021 and Mr. Yogesh Kumar Gupta
(DIN 00022200) had been appointed as Independent Director w.e.f. 04th January,
2025 and his appointment as Independent Director is confirmed by Shareholders by way of
passing of Special Resolution through Postal Ballot dated 12th February, 2025.

The terms of appointment of IDs include the remuneration payable to them by way of
fees.

The terms of IDs cover, inter-alia, duties, rights of access to information, disclosure
of their interest / concern, dealing in Company's shares, remuneration and expenses,
insurance and indemnity. The IDs are provided with copies of the Company's policies and
charters of various committees of the Board.

In accordance with Section 149(7) of the Act, 2013, all IDs have declared that they
meet the criteria of independence as provided under Section 149(6) of the Act, 2013 and
Regulation 25 of the Listing Regulations and the Board confirms that they are independent
of the management.

All the IDs are registered with the databank of Independent Directors developed by the
Indian Institute of Corporate Affairs.

in accordance with the provisions of Section 150 of the Companies Act, 2013 and
obtained ID registration certificate and renewed the same for five years / life time, as
the case may be.

Separate meeting of Independent Directors During the year under review, a separate
meeting of IDs was held on 14th February, 2025.

20.4. Board Meetings during the year:

The Board of Directors met Six times in the Financial Year 2024-2025 i.e. 29th
May, 2024; 13th August, 2024; 22nd August, 2024; 14thNovember
2024; 04thJanuary, 2025 and 14th February, 2025.

The details of the Board Meetings and the attendance of the Directors are provided in
the Corporate Governance Report.

20.5. Committees:

Board delegates specific mandates to its Committees, to optimize Directors' skills and
talents besides complying with key regulatory aspects.

> Audit Committee for overseeing financial Reporting;

> Nomination and Remuneration Committee for selecting and compensating Directors /
Employees;

> Stakeholders' Relationship Committee for redressing investors' grievances

> Corporate Social Responsibility for analyzing and spending CSR Amount;

The performance of each Committee was evaluated by the Board after seeking inputs from
its Members on the basis of specific terms of reference, its charter, time spent by the
Committees in considering key issues, quality of information received, major
recommendations / action plans and work of each Committee.

The Board is satisfied with overall effectiveness and decision making of all
Committees. The Board reviewed each Committee's terms of reference to ensure that the
Company's existing practices remain appropriate. Recommendations from each Committee were
considered and accepted by the Board prior to its implementation during the financial year
under review.

Details of Committees, its charter and functions are provided in the Corporate
Governance Report.

20.6. Performance Evaluation of Board, Committee and Directors:

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board has carried
out an annual performance evaluation of its own performance, the Directors individually as
well as the evaluation of the working of its Board Committees. The manner of evaluation
has been explained in the Corporate Governance Report.

During the year the Board with the assistance of Nomination and Remuneration Committee
has completed the Evaluation exercise, which includes the evaluation of Board as whole,
committees and Directors, as per the internally designed evaluation process approved by
the Board.

21. DIRECTORS RESPONSIBILITY STATEMENT:

As per provisions of Section 134 (3) (c) & 134 (5) of the Companies Act, 2013, Your
Directors confirms as under:-

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

b) That the Directors had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the Company at the end of the
Financial Year 31.03.2025 and profit and loss of the Company for the period ended
31.03.2025;

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

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

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

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

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

OUTGO:

The report is attached as "Annexure-8"

23. PARTICULARS OF LOANS AND INVESTMENT:

Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013
form part of the Notes to the financial statements provided in this Annual Report.

24. ANNUAL RETURN:

Pursuant to the provisions of Section 92(3) of the Companies Act, 2013, a copy of
Annual Return is available at the weblink https://www.morganventures.in.

25. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions that were entered into during the financial year ended
31st March, 2025 were on an arm's length basis and were in the ordinary course of
business. Therefore, the provisions of Section 188 of the Companies Act, 2013 were not
attracted. Further, there are no materially significant related party transactions during
the year under review made by the Company with Promoters, Directors, or other designated
persons which may have a potential conflict with the interest of the Company at large.
Thus, disclosure in Form AOC-2 is not required. However, the disclosure of transactions
with related party for the year, as per Indian Accounting Standards Related Party
Disclosures is given in Note No. 30 to the Balance Sheet as on 31stMarch, 2025.

26. INDIAN ACCOUNTING STANDARDS AND SECRETARIAL STANDARDS:

26.1. Compliance with Indian Accounting Standards & IND AS applicability:

In compliance with Rules as applicable by Ministry of Corporate Affairs under Companies
(Indian Accounting Standards) Rules, 2015, The Company has to prepare its annual accounts
and other financial statements as per Indian Accounting Standards with effect from 1stApril,
2019.

Therefore, the Company start preparing its accounts and other financial statements in
accordance with the relevant accounting principles and complies with the relevant Indian
accounting standards.

26.2. Compliance with the Secretarial Standards:

The Company has made compliances in accordance with the Secretarial Standards as issued
by the Institute of Company Secretaries of India.

Company has conducted all of its meetings of Board and relevant committee meetings and
drafted its minutes in accordance with the SS-1 and SS-2 standards issued by the Institute
of Company Secretaries of India.

27. INTERNAL FINANCIAL CONTROL:

The Board has adopted the policies and procedures for ensuring the orderly and
efficient conduct of its business, including adherence to the Company's policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records and the timely preparation of reliable
financial disclosures.

28. RBI GUIDELINES:

The company has complied with and continues to comply with all the applicable
regulations and directions of the RBI.

29. CHANGE IN OBJECT CLAUSE OF THE COMPANY:

During the year under review, The Company had included two new objectives relating to
manufacturing activities in Main Object clause of Memorandum of Association (MOA) and the
same has been approved by the Board of Directors in their Board Meeting held on 22nd
August, 2024 and from the members of the Company by way of passing of Special Resolution
dated 20th September, 2024 passed at the 37th Annual General Meeting
of the Company and subsequently the objects had been further approved by the Registrar of
Companies by issuing

Certificate of Registration of the Special Resolution confirming alteration of Object
Clause(s) dated 25th October, 2024. However, Company had not started any
business operation any time in future in conformity to the said new objects. In case, if
Company start or commence any business operation in conformity to the said new objects it
will take prior approval of RBI and accordingly proceed with as per the guidelines as set
out by Regulators.

30. INDUSTRIAL RELATION:

The industrial relations with staff and workers during the year under review continue
to be cordial.

31. PROHIBITION OF INSIDER TRADING:

In terms of the provisions of the Securities and Exchange Board of India (Prohibition
of Insider Trading) Regulations, 2015, as amended (PIT Regulations), the Company has
adopted the revised "Code of Conduct to Regulate, Monitor and Report Trading by
Insiders" ("the Code"). The Code is applicable to all Directors, Designated
persons and connected Persons and their immediate relatives, who have access to
unpublished price sensitive information relating to the Company.

32. VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

The vigil mechanism of the Company incorporates a policy under Regulation 22 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 and Rule 7 of the
Companies (Meeting of the Board and its Power) Rules 2014, provide the mechanism for
Employees and Directors of the Company to approach the Executive Director and the Chairman
of the Audit Committee of the Board. Protected disclosures can be made by a Whistle Blower
by means of e-mail or telephone or letter to the Executive Director or to the Chairman of
the Audit Committee. The policy on Vigil Mechanism may be accessed on the Company's
website.

33. BUSINESS RISKS MANAGEMENT:

Pursuant to Regulation 17(9) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Company has laid down a framework to inform the Board about the
particulars of Risks Assessment and Minimization Procedures (Risks Management) Plan. The
Risks Management Plan is available on the website of the Company.

34. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND
TRIBUNALS:

During the year under review, No significant and material orders passed by the
Regulators, Courts and Tribunals. However, There is one ongoing litigation continuing in
the Bombay High Court w.r.t. WRIT filed by the Company against MIDC on the land parcel
situated at Plot no E-18, 19, 29, and 30 in the Chikalthana Industrial Area, Aurangabad,
Maharashtra ad-measuring 76,483 sq. mtrs.

The High Court vide its interim order dated 4th September, 2024 to balance the equities
permitted the Physical possession would formally remain with the petitioner until the
further Orders and the MIDC to take over the symbolic possession of the WRIT property at
11.00 am on 05-09-2024. The Petitioner i.e. Company would not be entering into the said
property without the leave of the Court. Also, MIDC would not proceed to allot any portion
of the said Land to any entity even under a Conditional transfer, without the permission
of the Court.

The Company is hopeful of the opinion that MIDC order of cancellation of Lease deed
would be set aside by the High Court.

In view of the above there will be no adverse impact on the financial statements of the
company.

35. GREEN INITIATIVE & SHAREHOLDERS INFORMATION:

The Ministry of Corporate Affairs (MCA), Government of India has taken a 'Green
Initiative in the Corporate Governance' vide its Circular Nos. 17/2011 dated 21.04.2011
and 18/2011 dated 29.04.2011 which enables the entity to effect electronic delivery of
documents including the Notice of Annual General Meeting/Extra Ordinary General Meeting,
audited financial statements, Director's Reports, etc. in electronic form, to the e-mail
address the Shareholders have registered with Depository Participant(DP).

The Shareholders are requested to register/update their e-mail address immediately in
their respective DP accounts so as to receive delivery of documents in electronic form
instead of getting the same in physical form. The Shareholders holding shares in physical
form desirous of availing electronic form of delivery of documents/notices are requested
to immediately register/update their e-mail address, by contacting with our designated
Registrar and Transfer Agents, namely, M/s. Skyline Financial Services Private Limited.
Members may

please note that AGM Notice and Annual Report 2023-24 are being send only in electronic
mode and the said notice and annual report are also available on the Company's website
www.morganventures.in, websites of the Stock Exchange/s i.e; BSE Limited at
www.bseindia.com.

The Securities and Exchange Board of India (SEBI) has by its Circular No.
SEBI/HO/MIRSD/MIRSD_RTAMB/P/ CIR/2021/655 dated November 03, 2021, Circular No. SEBI/
HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021 and Circular No.
SEBI/HO/MIRSD/MIRSD-PoD-1/P/ CIR/2023/37 dated March 16, 2023 made it mandatory for all
holders of physical Securities to furnish the copy of PAN, Nomination in form SH-13,
Cancellation or change in Nomination in form SH-14, Updation of contact detail in form
ISR-1, & updation of Bank account details in form ISR-2. In this regard, you may
contact with our Company's designated Registrar & Share Transfer Agent (RTA) and / or
to our Company's official.

36. APPRECIATION & ACKNOWLEDGEMENT:

Your Directors appreciate the valuable co-operation extended by the Company's Bankers,
Monitoring Agencies, Regulators (SEBI and RBI), other Central and State Government
departments and Clients for their continued support. Your Directors also express its deep
gratitude for wholehearted and continuous support extended by the members who have always
been a source of strength of the Company.


  

    

    
For and on Behalf of the Board of Directors
  
  

    

    
Sd/-
    
Sd/-
  
  

    
Place: New Delhi
    
Kuldeep Kumar Dhar
    
Madhu
  
  

    
Date: 26/05/2025
    
Managing Director
    
Director
  
  

    

    
DIN 00299386
    
DIN 09065199