Dear Members,

Your directors have pleasure in presenting the Twenty Eight (28th) Annual
Report, together with the Audited Financial Statement of the Company for the Financial
Year ended March 31, 2022 ("FY 2022").


FINANCIAL PERFORMANCE

A Summary of the Company's Financial Performance for the FY 2022 is as follows.


(Amount in Thousands


  

    
Particulars
    
March 31, 2022
    
March 31, 2021
  
  

    
Revenue from operation
    
19213.65
    
17142.24
  
  

    
Other Income
    
2732.30
    
6807.84
  
  

    
Total Revenue
    
21945.95
    
23950.08
  
  

    
Profit before Finance cost, Depreciation and Tax
    
11289.43
    
16977.20
  
  

    
Finance cost
    
18.64
    
348.89
  
  

    
Depreciation
    
94.29
    
121.55
  
  

    
Profit before tax
    
11176.50
    
16506.76
  
  

    
Less: Tax
    
3332.26
    
714.85
  
  

    
Profit for the year
    
7844.24
    
15791.91
  



RESULTS OF OPERATIONS AND THE STATE OF COMPANY'S AFFAIRS

During the year under review, your Company achieved total revenue and Net Profit of Rs.
2,19,45,950 and Rs. 78,44,240 respectively as against total revenue and Net Profit of Rs.
2,39,50,083 and Rs. 1,57,91,906 respectively during the previous financial year ended
March 31, 2021.


CHANGE IN THE NATURE OF BUSINESS, IF ANY

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


RBI REGULATIONS

Your Company continues to comply with all the Regulations issued by the Reserve Bank of
India to the extent as applicable to the Company.


DIVIDEND

Keeping in view long term interest of the company. Your Directors do not recommend the
payment of dividend for the FY 202122.


LISTING OF SECURITIES

The Equity shares of the Company are presently listed on BSE Limited. The Annual
listing fees for the year 2022-23 have been paid to the BSE Limited.


ANNUAL RETURN

In accordance with the provisions of Section 134 (3)(a) of the Companies Act, 2013, the
Annual Return, as required under Section 92 of the Act for the financial year 2021-22, is
available on the Company's website at www.moongipa.net.


MANAGEMENT'S DISCUSSION AND ANALSYS

The report on Management Discussion and Analysis as required under Regulation 34 and
schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
("Listing Regulations") is annexed to this report as Annexure "A". Certain
statements in the report may be forward-looking. Many factors may affect the actual
results, which could be different from what the Directors envisage in terms of the future
performance and outlook.


OVERVIEW OF INDIAN ECONOMY FY 2021-22

The Indian economy has fully recovered to the pre-pandemic real GDP level of 2019-20,
according to the provisional estimates of GDP released on May 31, 2022. Real GDP growth in
FY 2021-22 stands at 8.7%, which is 1.5% higher than the real GDP in FY 201920. These
figures are associated with stronger growth momentum, indicating increased economic
demand. The investment rate in the fourth quarter increased to its highest level in the
previous nine quarters. Moreover, capacity utilisation in the manufacturing sector rose in
the fourth quarter, as against the third quarter, implying a build-up in demand, which is
consistent with the growth objectives of the Indian economy.

Future capital spending of the government in the Indian economy is expected to be
supported by factors such as tax buoyancy, streamlined tax system, thorough assessment and
rationalisation of the tariff structure and digitisation of tax filing. In the medium
term, an increase in capital spending on infrastructure and asset-building projects is set
to increase growth multipliers. Furthermore, revival in monsoon and Kharif sowing helped
the agriculture sector gain momentum. As of July 11, 2022, the SouthWest monsoon has
covered the entire country, resulting in 7% higher rainfall than the normal level.

India has emerged as the fastest-growing major economy in the world, and is expected to
be one of the top three economic powers globally over the next 10-15 years, backed by its
robust democracy and strong partnerships.


Industry Overview

Over the past few years, Non-Banking Financial Companies (NBFCs) have played a
prominent role in the Indian financial system. They provide financial inclusion to the
underserved section of the society that does not have easy access to credit. NBFCs have
revolutionized the Indian lending system and have efficiently leveraged digitization to
drive efficiency and provide customers with a quick and convenient financing experience.
The plethora of services include vehicle financing, MSME financing, home financing,
microfinance and other retail segments The Government has consistently worked on the
governance measures to strengthen the systemic importance of the NBFCs. As of January 31,
2022 there were approximately 9,495 NBFCs registered with Reserve Bank of India (RBI), of
which 49 deposit accepting NBFCs.

The pandemic impacted the NBFCs operations, leading to decline in disbursements across
the sectors. However, the support and focus of the Government through various liquidity
measures such as repo rate cut, targeted long-term repo operations, special liquidity
scheme and partial credit guarantee scheme, kept the sector afloat. The total credit
outstanding from the NBFCs for Financial Year 2020-21 stood at Rs.23.75 trillion and is
expected to grow by 6-7% in the Financial Year 2021-22.

The country's financial services sector consists of capital markets, insurance sector
and non-banking financial companies (NBFCs). India's gross national savings (GDS) as a
percentage of Gross Domestic Product (GDP) stood at 30.73% in 2020. On September 30, 2021,
the Reserve Bank of India communicated that the applicable average base rate to be charged
by non-banking financial company - micro finance institutions (NBFC-MFIs) to their
borrowers for the quarter beginning October 1, 2021, will be 7.95%.

In July 2021, Rajya Sabha approved the Factoring Regulation (Amendment) Bill in 2020,
enabling 9,000 NBFCs to participate in the factoring market. The bill also gives the
central bank the authority to establish guidelines for improved oversight of the US$ 6
billion factoring sector.


PUBLIC DEPOSITS

The Company has not invited or accepted any public deposit during the year under
review.


BUSINESS RESPONSIBILITY REPORT (BRR)

The Business Responsibility Report as per regulation 34(2) of SEBI Listing Regulations
is not applicable to the Company as the Company does not fall under top 1000 listed
companies on the basis of market capitalisation.


DIVIDEND DISTRIBUTION POLICY

Pursuant to regulation 43A of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015 top 1000 listed companies based on market capitalization
are required to formulate a Dividend Distribution Policy. Accordingly your Company is not
required to formulate the Dividend Distribution Policy.


TRANSFER OF RESERVES

During the year under review, the Company had transferred 15,68,850 in FY 2022 as per
Section 45-IC of the RBI Act, 1934 to Statutory Reserve.


CHANGES IN SHARE CAPITAL AND MEMORANDUM OF ASSOCIATION

The paid up equity share capital as on March 31, 2022 was Rs. 50,102,000. There was no
public issue, rights issue or bonus issue during the year.

Subsequent to the year end, the Board of Directors in its meeting held on July 25,
2022, approved a preferential issue of 2,37,38,800 equity shares to the persons belonging
to promoter category and non-promoter category and 72,51,000 fully convertible warrants to
the persons belonging to promoter category and non-promoter category, and the same was
approved by the members through postal ballot on August 24, 2022. Further, increase in
authorized capital from Rs. 6 crore to Rs. 40 crore, was also approved by the members
through postal ballot on August 24, 2022.

The company has not issued shares with differential voting rights, sweat equity shares
not it has granted any stock options. 


DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The Company does not hold any Subsidiary/Joint Venture/Associate Companies during the
year under review.


PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Your Company has not provided any loan, guarantees, Investment or securities under
Section 186 of the Companies Act, 2013. 


PARTICULARS OF REMUNERATION

Disclosure of ratio of the remuneration of the Executive Director to the median
remuneration of the employees of the Company and other requisite details pursuant to
Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended, is annexed
to this report as Annexure 'B'. Further, particulars of employees pursuant to Rule
5(2) & 5(3) of the above Rules form part of this report. However, in terms of
provisions of section 136 of the said Act, the report and accounts are being sent to all
the members of the Company and others entitled thereto, excluding the said particulars of
employees. Any member interested in obtaining such particulars may write to the Company
Secretary. The said information is available for inspection at the registered office of
the Company during working days of the Company up to the date of the ensuing annual
general meeting.


DIRECTORS AND KEY MANAGERIAL PERSONS

As on March 31, 2022, the Company has four Directors on its Board comprising three Non-
Executive Directors and One Executive Directors. Out of three Non-executive Directors, two
are Independent Directors.

Subsequent to year end, on July 25, 2022, Mrs. Ruchi Jain, Whole Time Director and Mr.
Ajay Prakash Narayan, Independent Director resigned from the directorship in the Company
and Mr. Rahul Gupta and Mr. Rohan Gupta were appointed as Additional Directors and Mr.
Anil Kumar Bansal as Independent Director in the Company.

Further Mr. Mohd Javed Qureshi resigned from the position of the Chief Financial
Officer and Mr. Sahil Sikka was appointed as Manager designated as Chief Operating Officer
& Chief Financial Officer of the Company w.e.f. July 25, 2022.

Further Mr. Sanjeev Jain resigned from the position of the Company Secretary &
Compliance Officer and Mr. Sachin Kumar was appointed as a Company Secretary &
Compliance officer of the Company w.e.f. August 10, 2022.

Further, on September 2, 2022, Ms. Asha Anil Agarwal was appointed as Independent
Director in the Company.

Pursuant to the above changes, as on the date of this report the Company has six
Non-Executive Directors on its Board, out of which three are Independent Directors.
Further, Mr. Sahil Sikka, COO (Manager) & CFO is a Key Managerial Personnel
("KMP") within the meaning of Section 203(1) of the Act. Mr. Sachin Kumar is the
other KMP, being the Company Secretary.


Retirement by Rotation

In accordance with the provisions of Section 152 of the Companies Act, 2013 and Rules
made thereunder and pursuant to Articles of Association of the Company, Mr. Sanjeev Jain,
Director of the Company, is liable to retire by rotation at the ensuing AGM and being
eligible, offer himself for re-appointment. The Board of Directors recommends his
re-appointment for the consideration of the members of the Company at the ensuing AGM.


MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
Promoters entered into Share Purchase Agreement.

During the year under review, Mr. Rahul Gupta and Mr. Rohan Gupta ("New
Promoters") had entered into a Share Purchase Agreement on August 20, 2021 ('SPA')
with the erstwhile promoters for acquisition of control and 28,18,153 (Twenty Eight Lakh
Eighteen Thousand One Hundred and Fifty Three) Equity Shares representing 56.25% of the
Paid-up Share Capital of the Company, pursuant to which an Open Offer was made to acquire
13,02,652 (Thirteen Lakh Two Thousand Six Hundred and Fifty Two) Equity Shares
representing 26.00% of the Paid-up Share Capital of the Company in terms of the provisions
of Regulation 3(1) and Regulation 4 of SEBI (SAST) Regulations. The said acquisition of
shares under SPA and Open Offer was subject to the approval from Reserve Bank of India
('RBI') pursuant to its Circular No. DNBR (PD) CC.No. 065/03.10.001/2015-16 dated July 9,
2015.

Subsequent to year end, the RBI approval for the acquisition of control and shares of
Company by the new promoters was received on June 20, 2022. Under the Open Offer, Nil
shares were tendered by the Public Shareholders and thus the Open Offer process was duly
completed on July 22, 2022.

On July 25, 2022, the Board of the Company has effected the change in control and
management in the Company, by appointing the Mr. Rahul Gupta and Mr. Rohan Gupta as the
Directors of the Company and the acquisition of 56.25% Equity Shares as contemplated under
the SPA was also completed, and pursuant to the same Mr. Rahul Gupta and Mr. Rohan Gupta
have become the new promoters in the Company and have acquired control over the affairs of
the Company.

On July 25, 2022, the Board of Directors approved the allotment of upto 2,37,38,800
(Two Crore Thirty Seven Lakh Thirty Eight Thousand and Eight Hundred) Equity Shares of
face value of Rs. 10/- each to persons belonging to Promoter category and NonPromoter
Category, on preferential basis, at an issue price of Rs. 101/- in accordance with
provisions of Chapter V of SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018, as amended and applicable provisions of Companies Act, 2013 and rules
made thereunder aggregating to Rs. 2,39,76,18,800/- for cash and upto 72,51,000
(Seventy-Two Lakh and Fifty-One Thousand) Fully Convertible Warrants ('Warrants') carrying
a right exercisable by the Warrant holder to subscribe to one Equity Share per Warrant to
persons belonging to Promoter category and Non-Promoter Category, on preferential basis,
at an issue price of Rs. 101/- in accordance with provisions of Chapter V of SEBI (Issue
of Capital and Disclosure Requirements) Regulations, 2018, as amended and applicable
provisions of Companies Act, 2013 and rules made thereunder aggregating to Rs.
73,23,51,000/-for cash, which was approved by the members through postal ballot on August
24, 2022.

Pursuant to the Preferential Issue of Equity Shares, the shareholding of Promoters will
increase from 56.25% of Pre-Issue Paid-up Share Capital of the Company to 75.00% of the
Expanded Share Capital on diluted basis of the Company, triggering the requirement to make
an Open Offer under Regulation 3(2) of SEBI (SAST) Regulations. Subsequently, an Open
Offer was made by Mr. Rahul Gupta and Mr. Rohan Gupta along with Sudesh Business Ventures
Private Limited for the acquisition of upto 74,74,740 equity shares of face value of Rs.
10.00 ('equity Share') representing 26.00% of the expanded share capital on diluted basis
of the Company from the public shareholders.


CHANGE IN NAME OF THE COMPANY

Subsequent to the year end, the Board of Directors in its meeting held on August 10,
2022, proposed change in name of the Company to "SG Finserv Limited", which is
subject to the approval of the Reserve Bank of India, Registrar of Companies, BSE Limited
and the shareholders of the Company in the ensuing AGM.


CHANGE IN OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY

Subsequent to the change in ownership, management and control of the Company, the Board
of Directors has proposed change in Objects of the Company to carry on the business of
lending, credit and leasing facility, which is subject to the approval of the Registrar of
Companies, NCT of Delhi and Haryana and shareholders of the Company and any other
authority as may be required. A resolution to this effect forms part of the notice of the
ensuing AGM.


BOARD AND COMMITTEES MEETINGS

The Board meets at regular intervals to, inter-alia, discuss about the Company's
Policies and strategy apart from other Board matters. The Tentative annual Calendar of the
Board and Committee Meetings is circulated to enable the Directors to plan their schedule
and to ensure participation in the meetings. The notice for the Board/Committees Meetings
is also given in advance to all the Directors.

The details about the Board/Committee meetings is given at length in Report on
Corporate Governance forming part of this Annual Report.


DECLARATION BY INDEPENDENT DIRECTORS

All the Independent Director have confirmed to the Board that they meet the criteria of
Independence as specified under Section 149(6) of the Act and that they qualify to be an
Independent Directors pursuant to the Rule 5 of the Companies (Appointment and
Qualification of Directors) Rules, 2014. The Independent Directors have also confirmed
that they meet the requirements of 'Independent Director' as mentioned under Regulation
16(1) (b) of the Listing Regulations.


CORPORATE GOVERNANCE REPORT

The Corporate Governance philosophy of the Company is driven by the interest of
stakeholders and business needs of the organization. The Company continues to be compliant
with the requirements of Corporate Governance as enshrined in Listing Regulations. In
terms of Regulation 27 of Listing Regulations, the Corporate Governance Report along with
certificate received from Statutory Auditors of the Company certifying compliance with the
conditions of Corporate Governance is annexed as Annexure "C" forming
integral part of this Report.


CORPORATE POLICY

We seek to promote and follow the highest level of ethical standards in our business
transactions. The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
mandated the formulation of certain policies for all listed companies. All the policies
are available on the website of the Company at www.moongipa.net.

The Policies are reviewed periodically by the Board and updated on the basis of need
and new Compliance.


The Key Policies are as follows:

I. Nomination and Remuneration Policy

In accordance with the provisions of section 134 (3) (e) of the Companies Act, 2013
read with Section 178 (4) and Regulation 19 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, your company has adopted the policy on
appointment of Directors and Senior Management and succession planning for orderly
succession to the Board and the Senior Management, which inter - alia includes the
criteria for determining qualifications, positive attributes and independence of
directors.

Your company has also adopted policy on remuneration of Directors, Key Managerial
Personnel and Employees of the company in accordance with the provisions of sub section
(4) of section 178. The Policy is available on the Company's website www.moongipa.net.


II. Risk Management Policy

Your company has a comprehensive Risk Management Policy in place and laid down a well
defined risk management framework to identify, assess and monitor risks and strengthen
controls to mitigate risks. Major risks identified by the business and functions are
systematically addressed through mitigating actions on a continuing basis.

At present the company has not identified any element of risk which may threaten the
business (or) existence of the Company.


III. Whistle Blower Policy - Vigil Mechanism

The company promotes ethical behavior in all its business activities and has
established a vigil mechanism for its directors, employees and stakeholders associated
with the company to report their genuine concerns. The Vigil Mechanism as envisaged in the
Companies Act, 2013 and the Rules prescribed there under and the Listing Regulation is
implemented through the Whistle Blower Policy, to provide for adequate safeguards against
victimization of persons who use such mechanism and make provision for direct access to
the Chairperson of the Audit Committee.

As per the Whistle Blower Policy implemented by the Company, the Employees, Directors,
or any Stakeholders associated with the Company are free to report illegal or unethical
behavior, actual or suspected fraud or violation of the Company's Codes of Conduct or
Corporate Governance Policies or any improper activity to the Chairman of the Audit
Committee of the Company or Chairman of the Company.

The Whistle Blower Policy provides for protected disclosure and protection to the
Whistle Blower. Under the Whistle Blower Policy, the confidentiality of those reporting
violation(s) is protected and they are not subject to any discriminatory practices. The
Whistle Blower Policy has been appropriately communicated within the Company and is
available on the Company's website www.moongipa.net.


CORPORATE SOCIAL RESPONSIBILITY (CSR)

The disclosure as per Rule 9 of the Companies (Corporate Social Responsibility Policy)
Rules, 2014 is not applicable as the Company is not covered under the criteria mentioned
in Section 135(1) of the Companies Act, 2013.


STATUTORY AUDITORS AND AUDITORS' REPORT

M/s. Rajesh K Sachdeva & Associates, Chartered Accountants (Firm's Registration No.
019200N) were appointed as the Statutory Auditors of the Company to hold office for five
consecutive years starting from the conclusion of the 23rd Annual General Meeting (AGM)
held on September 07, 2017 until the conclusion of the 28th AGM of the Company to be held
during the current year 2022. Accordingly, the existing Statutory Auditors are due for
retirement at the ensuring Annual General Meeting.

Subject to the approval of the members of the Company, the Audit Committee and the
Board of Directors during their respective meetings held on August 10, 2022 have
considered and recommended the appointment of M/s AKGVG & Associates, Chartered
Accountants (Firm Registration Number: 018598N) as the Statutory Auditors of the Company,
to hold office from the conclusion of the 28th Annual General Meeting until the conclusion
of the 33rd Annual General Meeting of the Company to be held in year 2027.

M/s AKGVG & Associates, Chartered Accountants (Firm Registration Number: 018598N)
have given their consent for the proposed appointment as Statutory Auditors of the Company
from the conclusion of the ensuing Annual General Meeting of the members of the Company.
They have further confirmed that the said appointment, if made, would be within the
prescribed limits under Section 141(3)(g) of the Companies act, 2013 and that they are not
disqualified for appointment.

The Auditor's Reports on the Financial Statements for the financial year ended March
31, 2022 does not contain any qualification, reservation or adverse remark requiring any
explanations / comments by the Board of Directors.

The Notes of Accounts referred to in the Auditors' Report are self- explanatory and do
not call for any further comments. 


INTERNAL AUDITORS

The Company has appointed M/s R. Mahajan & Associates (Firm Registration
Number-0011348N), Chartered Accountants as their Internal Auditors to carry out the
Internal Audit of various operational areas of the Company.


SECRETARIAL AUDITORS & SECRETARIAL AUDIT REPORT

The Board of the Directors of the company had appointed M/s Kuldeep Dahiya &
Associates, Company Secretaries (Membership No.: 34404 and C.P.No.:18930) to conduct the
Secretarial Audit of the company pursuant to the provision of Section 204 of the Companies
Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014. In accordance with the provisions of sub - section (1) of Section 204, the
Secretarial Audit Report for the financial year 2021-22 is appended to this report as Annexure
"D". The same does not contain any adverse remark or disclaimer.


COMPLIANCE WITH SECRETARIAL STANDARDS

The Board of Directors affirms that the Company has complied with the applicable
Secretarial Standards issued by the Institute of Companies Secretaries of India (SS1 and
SS2) respectively relating to Board & its Committees Meetings and General Meetings
which have mandatory application.


CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE INCOME/ OUTFLOW

As the company is not engaged in the manufacturing activity, the prescribed information
regarding compliance of rules relating to the conversation of Energy and Technology
absorption pursuant to section 134 (3)(m) of the Companies Act, 2013, read with Rule - 8
(3) of the Companies (Accounts) Rules, 2014 is not provided. The Company does not have any
Foreign Exchange Earnings and outgo in the year under review.


PARTICULARS OF CONTRACT OR ARRANGEMENTS WITH RELATED PARTIES

All related party transactions entered at arm's length basis in the ordinary course of
business were in compliance with the applicable provisions of the Companies Act, 2013 and
the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 there are no
materially significant related party transactions made by the company with Promoters,
Director or Key Managerial Personnel etc. which may have potential conflict with the
interests of the Company at large or which required the approval of the shareholders,
accordingly no transaction as being reported in form AOC-2 in terms of Section 134 of the
Companies Act, 2013. However, the details of the transactions are given in the financial
statements in accordance with the Accounting Standards. The policy on related party
transactions as approved by the board is available on company's website www.moongipa.net.


DETAILS OF PECUNIARY RELATIONSHIPS OR TRANSACTIONS OF THE NON EXECUTIVE INDEPENDENT
DIRECTOR VIS-A-VIS THE COMPANY.

There are no pecuniary relationships or transactions of the non-executive independent
director vis-a-vis the Company for the period ending March 31, 2022.


ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Your Company has in place adequate internal financials control with reference to
financial statements, commensurate with the size, scale, and complexity of its operation
to ensure that all assets are safeguarded and protected against loss from unauthorized use
or disposition and those transactions are authorized recorded and reported correctly.

Reasonable Financial Controls are operative for all the business activities of the
company and no material weakness in the design or operation of any control was observed.


ORDERS PASSED BY THE REGULATORS OR COURTS, IF ANY

No significant and material orders were passed by the Regulators, Courts or Tribunals
impacting the going concern status and Company's Operation in future.


DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134 (3) (c) and 134 (5) of the Companies Act,
2013 with respect to Directors responsibility statement, the Directors of the company
hereby confirm that:

i) In preparation of the annual accounts for the year ended March 31, 2022, the
applicable accounting standards have been followed along with proper explanation relating
to material departures.

ii) 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 true &
fair view of the state of affairs of the company at the end of financial year and of the
profit of the company for that period.

iii) The directors had taken proper and sufficient care 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.

iv) Directors had prepared the annual accounts on a going concern basis.

v) The Directors had laid down internal financial controls the company that are
adequate and were operating effectively.

vi) 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.


INVESTOR EDUCATION AND PROTECTION FUND (IEPF).

No amount was lying unpaid or unclaimed for a period of seven years. Therefore, no
funds were required to be transferred to Investor Education and Protection Fund (IEPF).


CASH FLOW STATEMENT

The cash flow Statement for year ended March 31, 2022 is in conformity with the
provisions of Companies Act, 2013 and SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015 with the Stock Exchanges in India, is annexed herewith.


DETAILS OF FRAUD, IF ANY REPORTED BY AUDITORS (OTHER THAN REPORTABLE TO CENTRAL
GOVERNMENT)

No fraud / misconduct was detected at the time Statutory Audit by Auditors of the
Company for the financial year ended on March 31, 2022.


GREEN INITIATIVE

Your Company has taken the initiative of going green and minimizing the impact on the
environment. The Company has been circulating the copy of the Annual Report in electronic
format to all those Members whose email address is available with Company. Your Company
would encourage other Members also to register themselves for receiving Annual Report in
the electronic Report form.


ACKNOWLEDGEMENT

The Board expresses its deepest appreciation and gratitude for the guidance and
cooperation extended to the Company by RBI, statutory authorities and regulators. The
Board also thanks the banks and financial institutions for their timely financial
assistants to the company and helping the company to reach out to customers across the
country. The Board thanks the auditors to the company for their guidance. Special thanks
are due to the employees of the company who contributed their skills, enthusiasm,
commitment and dedication which have over the years helped the company to earn prominence.
The Board is grateful to the shareholders, depositors of the company for their patronage.


  

    

    
For & On behalf of the Board of Directors
  
  

    

    
Sd/-
    
Sd/-
  
  

    

    
Rahul Gupta
    
Rohan Gupta
  
  

    

    
Director
    
Director
  
  

    

    
DIN:07151792
    
DIN:08598622
  
  

    
Place: New Delhi
    

    

  
  

    
Date: September 2, 2022