The Directors have pleasure in presenting their 7^th Annual Report on the business and operations together with the Audited Statement of Accounts of the Company for the year ended 31^st March, 2024.

1. FINANCIAL RESULTS

The Financial results are briefly indicated below:

(In Lakhs)

Particulars	Standalone		Consolidated
	2023-24	2022-23	2023-24	2022-23
Revenue from operations (net)	8717.22	8232.30	8732.39	8232.30
Other Income	49.29	38.18	23.13	12.50
Profit before Interest, Depreciation and Tax (PBIDT)	1192.30	1068.32	1166.72	1042.14
Interest	391.23	363.57	394.56	363.57
Profit before Depreciation and Tax (PBIT)	801.07	704.75	772.16	678.57
Depreciation	316.60	279.07	323.31	279.07
Profit before Tax Expenses	484.47	425.68	448.85	399.50
Tax Expenses	112.85	71.85	112.84	71.85
Profit after Tax	371.62	353.83	336.01	327.65
Other Comprehensive Income	(4.15)	(0.04)	(4.15)	(0.04)
Total Comprehensive Income	367.47	353.79	331.86	327.61
EPS- Basic	3.03	4.08	2.74	3.78
Diluted	3.03	4.08	2.74	3.78

The Standalone Revenue from the operations (net) for the Financial Year 2023-24 was Rs.8717.22 lac (Previous year Rs.8232.30 lac). The company earned Net Profit of Rs. lac 371.62 (Previous Year Rs.353.83 lac).The Earning per share was Rs. 3.03.

The Consolidated Revenue from the operations (net) for the Financial Year 2023-24 was Rs. 8732.39 lac (Previous Year Rs. 8232.30 lac). The company earned Consolidated Net Profit Rs.336.01 lac (Previous Year Rs.327.65 lac). The Consolidated Earning per share was Rs. 2.74.

There was no change in the nature of business of the company during the year.

The previous year figures have been restated, rearranged, regrouped and consolidated, to enable comparability of the current year figures of accounts with the relative previous year’s figures.

2. INDUSTRIAL SCENARIO

The Indian tractor industry stands as a significant pillar in the country''s agricultural landscape, poised for steady growth and innovation in the coming years. With a robust market estimation of USD 2.37 billion in 2024, expected to climb to USD 3.13 billion by 2029 at a CAGR of 5.80%, the sector is witnessing positive trends driven by various factors. The demand surge for agricultural machinery, particularly tractors, can be attributed to several stimuli such as higher Kharif sowing, favorable monsoon conditions, increased rural spending by the government, and exemptions from lockdown restrictions.

The tractor industry has ended the fiscal FY24 with an 8 per cent decline in domestic sales after reporting peak volumes in the previous fiscal. Though tractor exports fell 22 per cent in FY24, the March quarter signaled a rebound with positive growth in shipments.

[Sourcel(https://www.thehindubusinessline.com/economv/agri-business/domestic-tractor-sales-fall-8-in-fV24-on-el- nino-impact/article68058563.ece). ICRA estimates the industry volumes to grow at a modest pace in FY2025, aided by expectation of an above normal monsoon and consequent favourable impact of the same on farm cash flows.

India''s tractor market, one of the largest globally, witnesses dominance by indigenous OEMs like Mahindra & Mahindra Limited, TAFE, International Tractors Ltd (Sonalika), and Escorts Limited, although international players like Deere & Company and CNH have also established a significant presence.

The trend of custom hiring of tractors is gaining momentum, with various stakeholders, including government agencies and local entrepreneurs, contributing to its proliferation. States like Karnataka, Maharashtra, and Rajasthan have witnessed significant strides in the establishment of custom hiring centers, enabling farmers to access machinery efficiently.

Government initiatives play a pivotal role in propelling market growth, with subsidies and support programs aimed at rural development and farm mechanization. Schemes like subsidies for purchasing tractors below 18 HP and subsidy for promoting agricultural mechanization, including 25% of the cost limited to INR 30,000 for buying tractors of up to 35 PTO HP underscore the government''s commitment to enhancing agricultural practices. Moreover, easy credit availability, coupled with favorable loan schemes and low-interest rates, further incentivize farmers to invest in mechanization.

The future trajectory of the Indian tractor industry seems promising, driven by technological advancements and a concerted focus on farm mechanization. While challenges such as fluctuations in rural demand and adverse weather conditions persist, initiatives like the introduction of automation technologies and the expansion of farm machinery manufacturing plants augur well for the sector''s growth. By harnessing innovation, embracing mechanization, and leveraging government support, the Indian tractor industry is poised to play a pivotal role in transforming farming practices and enhancing agricultural productivity in the years ahead. [Sourcel(https://www.mordorintelligence.com/industry-reports/india-agricultural-tractor-machinery-market

3. SHARE CAPITAL

During the current year the company raised its Authorised share capital to Rs. 20,00,00,000/- (Rupees Twenty Crores only) divided into 2,00,00,000 ( Two Crore only) Equity Shares of Rs. 10/- each. The company issued and allotted by way of Preferential Allotment, 23,00,000 equity shares of the face value of Rs. 10/- each at a issue price of Rs. 39.50 per share (i.e on a premium of Rs. 29.50 per share) to the Promoter/Promoters Group and Non Promoters (Public Category). The present Issued and Paid up capital of the company is Rs. 13,18,25,150.

4. LISTING ON NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSE) EMERGE

The equity shares of the company are listed on NSE Emerge. The Stock Code with NSE is: PRITIKA.

5. DIVIDEND

Considering the financial results and to plough back surplus of the Company, the Board did not recommend payment of any dividend for the year ended 31^st March, 2024.

6. TRANSFER TO RESERVE

During the financial year, there was no amount proposed to be transferred to the Reserves.

7. AUDITORS & AUDITORS’ REPORT

M/s. Sunil Kumar Gupta & Co., Chartered Accountants, New Delhi were appointed as statutory auditors of the company for a period of five years in the 4th AGM i.e. till the conclusion of the 9th Annual General Meeting to be held for the FY 2025-26.

The Auditors’ Report for the fiscal 2024 does not contain any qualification, reservation or adverse remark. Further, in terms of section 143 of the Companies Act, 2013 read with Companies (Audit & Auditors) Rules, 2014, as amended, no fraud has been reported by the Auditors of the Company where they have reasons to believe that an offence involving fraud is being or has been committed against the company by officers or employees of the company.

8. DEPOSITS

The Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014. Hence company need not to give details related to deposits. There is no non-compliance of the provisions of Chapter V of the Companies Act 2013.

9. PARTICULARS OF EMPLOYEES

Disclosure pertaining to the remuneration and other details as required under the Companies Act, 2013 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and any amendments thereof, is attached as Annexure A.

10. POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION

The Board has adopted a policy for selection and appointment of Directors, Key Managerial Personnel, Senior Management and their remuneration.

-The Nomination & Remuneration Committee identifies and ascertains the integrity, qualification, expertise and experience of the person for appointment as Director and ensures that the candidate identified possesses adequate qualification, expertise and experience for the appointment as a Director.

-The Nomination & Remuneration Committee ensures that the candidate proposed for appointment as Director is compliant with the provisions of the Companies Act, 2013.

-The candidate’s appointment as recommended by the Nomination and Remuneration Committee requires the approval of the Board.

-In case of appointment of Independent Directors, the Nomination and Remuneration Committee satisfies itself with regard to the independent nature of the Directors vis- a-vis the Company so as to enable the Board to discharge its function and duties effectively.

-The Nomination and Remuneration Committee ensures that the candidate identified for appointment as a Director is not disqualified for appointment under Section 164 of the Companies Act, 2013.

-The policy can be viewed at company’s website at https://www.pritikaengineering.com/nomination-remuneration-policv.pdf

11. CORPORATE GOVERNANCE

The Company is covered under criteria of Regulation 15(2)(b) of SEBI(Listing Obligations & Disclosure Requirements) Regulations, 2015, and is not required to provide ‘Report on Corporate Governance’.

12. SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES

Company has one wholly owned subsidiary namely ‘Meeta Castings Limited.’ Except this the company does not have any other Subsidiary, Joint venture or Associate Company. The Company itself is subsidiary of Pritika Auto Industries Ltd. No company has become subsidiary, associates and joint ventures during the year under purview.

In accordance with the provisions of section 129 (3) of the Act read with the Companies (Accounts) Rules, 2014, a report on the performance and financial position of the subsidiary is attached as ‘Annexure B’ to this report.

13. STATEMENTS OF PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

Information in accordance with the provisions of Section 134 (3)(m) of the Act read with the Companies (Accounts) Rules, 2014 regarding Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo during the reporting period is attached herewith and marked as ‘Annexure-C’.

14. RELATED PARTY TRANSACTIONS

Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Form AOC-2 and forms part of this report as Annexure- D.

15. ANNUAL RETURN

The copy of Annual Return as at 31^st March, 2024, is available on the company’s website at https://www.pritikaengineering.com/annual-return-mgt.html

16. SECRETARIAL AUDIT REPORT

Pursuant to the provisions of section 204(1) of the Companies Act, 2013 and Rules made there under, the Board of Directors has appointed Mr. Sushil K Sikka, Prop. S K Sikka & Associates, Company Secretary as Secretarial Auditor of the Company for the Financial Year 2023-24. The Secretarial Audit Report forms part of the Annual Report and has been attached and marked as Annexure-E. The Secretarial Auditors’ Report for the fiscal 2024 does not contain any qualification, reservation or adverse remark.

The Secretarial Audit Report of Meeta Castings Ltd., the wholly owned subsidiary of the company has been attached and marked as Annexure-F.

17. MANAGEMENT DISCUSSION ANALYSIS REPORT

The details forming part of Management Discussion and Analysis Report is annexed herewith to the Board Report as Annexure G.

18. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE

During the year under review, there is no significant and material order passed by the Regulators or Courts or Tribunals impacting the going concern status and Company’s operations.

19. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of loan, guarantee and investment covered under the provisions of Section 186 of the Act read with the Companies (Meetings of Board and its Powers) Rules, 2014 are given in the Notes to the financial statements.

20. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The details about the policy developed and implemented by the company on CSR initiative taken during the year is enclosed as Annexure-H. The company has also developed a policy on CSR which can be viewed at company’s website https://www.pritikaengineering.com/csr-policv.pdf

21. MEETINGS OF BOARD OF DIRECTORS

The Board met eight times on 16-05-2023, 13-07-2023, 08-08-2023, 25-08-2023, 07-11-2023, 27-12-2023, 30-01-2024 and 23-03-2024 during the year. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the Listing Regulations.

Attendance of Directors in the Board Meeting:

Sr. No.	Name of Directors	No. of Board Meetings
		Entitled to attend	Attended
1.	Mr. Raminder Singh Nibber	7	7
2.	Mr. Harpreet Singh Nibber	8	8
3.	Mr. Ajay Kumar	8	8
4.	Mr. Subramaniyam Bala	3	3
5.	Mr. Bishwanath Choudhary	8	7
6.	Mrs. Neha	8	8
7.	Mr. Aman Tandon	4	2

22. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

No material changes and commitment affecting the financial position of the company occurred between the end of the financial year 2023-24 and the date of this report.

23. CORPORATE ACTIONS DURING THE YEAR 2023-24

During the Financial Year 2023-24, the Company has made the following Corporate Actions:

Extra Ordinary General Meetings

The shareholders of the company in their Extra Ordinary General Meeting held on 11/8/2023:

> approved to increase the Authorized Share Capital of the Company from Rs. 15,00,00,000/- (Rupees Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lakhs) Equity Shares of Rs. 10/- each (Rupees Ten only) to Rs. 20,00,00,000/- (Rupees Twenty Crores only) divided into 2,00,00,000 (Two Crores) Equity Shares of Rs. 10/- each (Rupees Ten only).

> approved Issue of Equity Shares to Promoter/ Promoter Group and Non-Promoters on Preferential basis. The shareholders of the company in their Extra Ordinary General Meeting held on 27/2/2024:

> approved Alteration of Articles of Association of the Company

> approved Issuance of Fully Convertible Warrants and Equity Shares on a Preferential Basis.

24. COMPOSITION OF COMMITTEES

The Company has complied with the SEBI (LODR) Regulations along with the Companies Act, 2013 with respect to the Composition of the Committees as required therein, details of which are as follows:

Audit Committee

The Composition of the Audit Committee as on 31.03.2024 and the number of meetings held and attended by members during the year is given herein below.

Member’s Name	Designation	No. of meetings held	No. of meetings entitled to attend	No. of meetings attended
Mr. Subramaniyam Bala	Chairperson	6	3	3
Mr. Bishwanath Choudhary	Chairperson	6	6	6
Mr. Raminder Singh Nibber	Member	6	6	6
Mr. Aman Tandon	Member	6	2	1
Mrs. Neha	Member	6	3	3
Mr. Harpreet Singh Nibber	Member	6	0	0

Note:

Mr. Subramaniyam Bala resigned from the position of Director and consequently ceased to be the Chairperson and member of the Audit Committee with effect from 17^th August, 2023.

Mr. Bishwanath Choudhary was appointed as Chairperson of the Audit Committee with effect from 25^th August, 2023.

Mr. Raminder Singh Nibber ceased to be the Member of the Audit Committee with effect from 12^th March, 2024 due to his demise.

Mr. Aman Tandon was appointed as Member of the Audit Committee with effect from 25 ^th August, 2023.

Mr. Harpreet Singh Nibber was appointed as Member of the Audit Committee with effect from 23^rd March, 2024.

All the recommendation made by the Audit Committee in the financial year 2023-24 were approved by the Board.

Nomination and Remuneration Committee

The Composition of the Nomination and Remuneration Committee as on 31.03.2024 and the number of meetings held and attended by members during the year is given herein below:

Member’s Name	Designation	No. of meetings held	No. of meetings entitled to attend	No. of meetings attended
Mr. Bishwanath Choudhary	Chairperson	1	1	1
Mrs. Neha	Member	1	1	1
Mr. Ajay Kumar	Member	1	1	1
Mr. Aman Tandon*	Member	1	0	0

* Mr. Aman Tandon was appointed as Member of the Nomination and Remuneration Committee with effect from 25^th August, 2023.

Stakeholders Relationship Committee

The Composition of the Stakeholders Relationship Committee as on 31.03.2024 and the number of meetings held and attended by members during the year is given herein below:

Member’s Name	Designation	No. of meetings held	No. of meetings entitled to attend	No. of meetings attended
Mrs. Neha	Chairperson	2	2	2
Mr. Ajay Kumar	Member	2	2	2
Mr. Subramaniyam Bala*	Member	2	1	1
Mr. Bishwanath Choudhary*	Member	2	1	1

* Mr. Subramaniyam Bala resigned from the position of Director and consequently ceased to be the Chairperson and member of the Stakeholder Relationship Committee with effect from 17^th August, 2023.

* Mr. Bishwanath Choudhary was appointed as Member of the Stakeholders Relationship Committee with effect from 08^th August, 2023.

Corporate Social Responsibility Committee

The Composition of the Corporate Social Responsibility Committee as on 31.03.2024 and the number of meetings held and attended by members during the year is given herein below:

Member’s Name	Designation	No. of meetings held	No. of meetings entitled to attend	No. of meetings attended
Mr. Raminder Singh Nibber 1	Chairperson	2	2	2
Mr. Harpreet Singh Nibber 2	Chairperson	2	0	0
Mr. Ajay Kumar	Member	2	2	2
Mrs. Neha	Member	2	2	2

*Mr. Raminder Singh Nibber ceased to be the Member of the Corporate Social Responsibility Committee with effect from 12^th March, 2024 due to his demise.

**Mr. Harpreet Singh Nibber was appointed as Chairperson of the Corporate Social Responsibility Committee with effect from 23^rd March, 2024.

25. BOARD EVALUATION

The Board of Directors have carried out an annual evaluation of its own performance, its committees and individual directors including Chairman of the Board on the basis of attendance, contribution and various criteria as recommended by the Nomination & Remuneration Committee of the Company. The evaluation of the working of the Board, its Committees, experience and expertise, performance of duties and obligations etc. were carried out.

26. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Composition of the Board and Key Managerial Personnel (KMP) of the Company as on 31st March, 2024 were as follows:

Sr. No.	Name of Director	Designation	Date of Appointment
1	Mr. Harpreet Singh Nibber 1	Chairman & Managing Director	20/02/2018
2	Mr. Ajay Kumar	Non Executive Director	05/10/2021
3	Mr. Aman Tandon	Independent Director	25/08/2023
4	Mr. Bishwanath Choudhary	Independent Director	20/07/2022
5	Mrs. Neha	Independent Director	20/07/2022
6	Mr. Narinder Kumar Tyagi	Chief Financial Officer	20/07/2022
7	Mr. Chander Bhan Gupta	Company Secretary	20/07/2022

qualification, experience and hold high standards of integrity for the purpose of Rule 8(5)(iii a) of the Companies (Accounts) Rules, 2014.

Change in Composition of Board

During the Financial Year 2023-24 there were following changes in the composition of Board of Directors:

Mr. Subramaniyam Bala (DIN 00461697) resigned as an Independent Director on the Board w.e.f. August 17, 2023 due to his pre-occupation and other personal commitments. He has confirmed that there was no other material reasons other than those given by him.

Mr. Aman Tandon (DIN 02159395) was appointed as an Independent Director on the Board w.e.f. August 25, 2023 for a period of three years.

Mr. Raminder Singh Nibber (DIN 00239117) ceased to be the Director on the Board w.e.f. March 12, 2024 due to his demise.

Key Managerial Personnel

There was no change in Key Managerial Personnel during the Financial Year ended 31 March, 2024.

27. DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134 (5) of the Companies Act, 2013, with respect to Directors Responsibilities Statement, it is hereby confirmed that:

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

b. The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for the year under review.

c. 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.

d. The Directors had prepared the accounts for the financial year ended 31st March, 2024 on a going concern basis.

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

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

28. COST AUDITORS

Pursuant to the provisions of section 148 of Companies Act, 2013 applicable rules thereof, the Company is not required to carry Cost Audit.

29. INTERNAL AUDITORS

Pursuant to section 138 of the Companies Act, 2013 read with rule 13 of the Companies (Accounts) Rules, 2014, and other applicable provisions of the Act, the Board of Directors has appointed M/s. A.K. Sood & Associates, Chartered Accountants, Chandigarh as Internal Auditors of the Company for financial year 2023-24. The Internal Auditor conducts the internal audit and reports to the Audit Committee and Board from time to time.

30. COST RECORDS

The Company is maintaining Cost Records as specified by the Central Government under Sub section (1) of Section 148 of the Companies Act 2013.

31. INTERNAL FINANCIAL CONTROLS & RISK MANAGEMENT

Pursuant to the provisions of Section 177(4) & Section 134(3)(n) of the Companies Act, 2013, the Board has developed Internal Finance Control Policy to identify and mitigate risks. The provisions of Regulation 21 of SEBI Listing Regulations 2015 pertaining to Risk Management Committee are not applicable to the company.

32. WHISTLE BLOWER POLICY AND VIGIL MECHANISM

To create enduring value for all stakeholders and ensure the highest level of honesty, integrity and ethical behavior in all its operations, the Company has formulated Whistle Blower Policy. This policy aspires to encourage all employees to report suspected or actual occurrence of illegal, unethical or inappropriate events (behaviors or practices) that affect Company’s interest/image.

33. DISCLOSURE AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has a complied with the provisions relating to the constitution of Internal Complaints Committee under the “The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013”.

As per provisions of section 21 and 22 of “The Sexual Harassment of Women at Workplace (Prohibition, Prevention and Redressal) Act, 2013” read with Rule 14 of “Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013”, the report on the details of the number of cases filed under sexual harassment and their disposal, for the year 2023-24 is as under:

Number of cases pending as on the beginning of the financial year	Nil
Number of complaints filed during the financial year	Nil
Number of cases pending for more than 90 days	Nil
Number of cases pending at the end of end of the financial year	Nil
Nature of action taken by the employer or District Officer	NA

34. During the year under review no application was made and no proceeding was pending against the company under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) .

35. During the year under review there was no One Time settlement with any bank or Financial Institution.

36. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has complied with all the applicable Secretarial Standards in the Financial Year 2023-24.

37. DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company is well equipped with adequate internal financial controls. The Company has a continuous monitoring mechanism which enables the organization to maintain the same standards of the control systems and help them in managing defaults, if any, on timely basis because of strong reporting mechanisms followed by the Company.

38. CODE OF CONDUCT

The Board has laid down a Code of Conduct (“Code”) for Board Members, Managerial Personnel and for Senior Management Employees of the Company. This Code has been posted on the Company''s website at https://www.pritikaengineering.com/code-conduct-directors.pdf. All the Board Members and Senior

Management Personnel have affirmed compliance with this code. The Board has also laid down a Code of Conduct for Independent Directors pursuant to Section 149(8) and Schedule IV to the Companies Act, 2013 via terms and conditions for appointment of Independent Directors, which is a guide to professional conduct for Independent Directors and has been uploaded on the website of the Company.

39. NON-DISQUALIFICATION OF DIRECTORS

None of the Directors of the Company has been debarred or disqualified from being appointed or continuing as director of Companies.

40. POLICY FOR PRESERVATION OF DOCUMENTS

Pursuant to the Regulation 9 of SEBI (LODR), 2015 the Company has maintained the policy of preservation of documents to keep the documents preserve as per Regulation 9(a) & 9(b) of SEBI (LODR), 2015 and the same has been uploaded on the website of the Company on https://www.pritikaengineering.com/archival-policy.pdf.

41. REGISTRAR AND SHARE TRANSFER AGENT INFORMATION

LINK INTIME INDIA PRIVATE LIMITED Regd. Office: C-101, 247 Park, 1st Floor, L.B.S. Marg,

Vikhroli West, Mumbai - 400 083

Maharashtra, India

Tel : 91 22 4918 6200

Fax : 91 22 49186060

Email Id: [email protected]

Website: https://linkintime.co.in/

42. ACKNOWLEDGEMENTS

Your Directors wish to express their sincere appreciation to all the Employees for their contribution and thanks to our valued clients, Bankers and shareholders for their continued support.

For and on behalf of the Board of Directors

Sd/-

Date: 03/08/2024 Harpreet Singh Nibber

Place: Mohali Chairman & Managing Director

DIN: 00239042

1

Mr. Harpreet Singh Nibber was appointed Chairman with effect of 23^rd March, 2024.

Re-Appointment of Director

2

Mr. Ajay Kumar, director retires by rotation at the ensuing Annual General Meeting, and being eligible offers himself for re-appointment.

Independent Directors

Independent Directors on your Company’s Board have submitted declarations of independence to the effect that they meet the criteria of independence as provided in Section 149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations. In the opinion of the Board our Independent Directors possesses requisite