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B2B Software Technologies Ltd.

BSE: 531268 Sector: IT
NSE: N.A. ISIN Code: INE151B01011
BSE 11:58 | 06 Oct 27.70 0.70
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NSE 05:30 | 01 Jan B2B Software Technologies Ltd
OPEN 27.00
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VOLUME 2026
52-Week high 51.00
52-Week low 25.70
P/E 16.20
Mkt Cap.(Rs cr) 32
Buy Price 27.60
Buy Qty 78.00
Sell Price 27.70
Sell Qty 3310.00
OPEN 27.00
CLOSE 27.00
VOLUME 2026
52-Week high 51.00
52-Week low 25.70
P/E 16.20
Mkt Cap.(Rs cr) 32
Buy Price 27.60
Buy Qty 78.00
Sell Price 27.70
Sell Qty 3310.00

B2B Software Technologies Ltd. (B2BSOFTTECH) - Director Report

Company director report

To

The Members

B2B Software Technologies Limited

Your Directors hereby present the Twenty Seventh Annual Report of your Company togetherwith the Audited Accounts including Consolidated Accounts for the financial year endedMarch 312021 and the report of the Auditors thereon.

1. FINANCIAL RESULTS:

(In Rupees)

Standalone Consolidated
PARTICULARS: 2020-2021 2019-2020 2020-2021 2019-2020
Revenue from Operations 114968541 105629335 149000555 138555471
Other Income 9124530 8185213 9124530 8185213
Profit/ Loss before Depreciation Finance Costs Exceptional Items and Tax Expense 124093072 113814548 158125085 146740684
Less: Depreciation/Amortisation/ Impairment 1011564 1110435 1011564 1110435
Profit/ Loss before Finance Costs Exceptional Items and Tax Expense 123081508 112704113 157113521 145630249
Less: Other Expenses 100188409 101935753 133948779 134169627
Profit/ Loss before Exceptional Items and Tax Expense 22893099 10768360 23164742 11460622
Add/ Less: Exceptional Items - - - -
Profit/ Loss before Tax Expense - - - -
Less: Tax Expense (Current & Deferred) 4355190 2383793 4355190 2383793
Profit/ Loss for the year (1) 18537909 8384567 18809552 9076829
Total Comprehensive Income/ Loss (2) 4147262 3560918 4147262 3560918
Total (1+2) 22685171 11945485 22956814 12637747
Balance of Profit/(Loss) for earlier years
Less: Transfer to Debenture Redemption Reserve
Less: Transfer to Reserves - (14108310) - (11194844)
Less: Dividend paid on Equity Shares - - -
Less: Dividend paid on Preference Shares - - - -
Less: Dividend Distribution Tax - - - -
Balance carried to Balance Sheet (A-B) - (14108310) - (11194844)

2. Industry Structure and development

Microsoft Dynamics is a growing business and global organizations identify MicrosoftDynamics as the preferred vendor for their next ERP investment. Microsoft Dynamicscustomer relationship management (CRM) and enterprise resource planning (ERP) softwareconnects people processes and systems. With easy to use fast to implement tools tomanage financials supply chain and operations. Microsoft Dynamics is sold by a globalnetwork of solution specialists known as partners or resellers.

3. State of Company affairs

B2B is one of the Microsoft Partner specialized in providing Implementation servicesfor Microsoft Dynamics ERP in Microsoft Dynamics World. Ourdiverse clientele includesmid-sized companies and larger enterprises.

As a Microsoft partner- B2B advances and adds value to Microsoft's leading businesssolutions and client relationships by ensuring that companies get the highest level ofattention expertise and results from Microsoft technology.

B2B has developed several Add-on's namely Quality HR & Payroll Plant Maintenanceand Life sciences Vertical for Microsoft Dynamics on NAV and AX.

COVID 19:

The impact of pandemic started in March 2020 with Governments announcing lockdownacross the world to control the spread of virus. This was followed by restricted easing ofservices across different countries to be followed by further rounds of lockdowns(including localised lockdowns) initiated across different countries. There was alsopositive news in the latter half of the year with vaccine approvals and launch ofvaccination drives in several countries.

During these extraordinary times of the COVID-19 pandemic your Company has beencontributing positively to the social and financial well-being of all our stakeholders.Value of human life is of utmost importance and this fundamental principle continues toguide our business and philanthropic activities. We have come together as an organizationwith the combined strengths of to deploy a sustainable and resilient response to thisglobal pandemic.

The Company has already adopted Work from Home for all employees effective from in themonth of March 2020 to minimize the risk and contain the spread of COVID-19 bymaintaining social distancing and hygienic practices for the safety of the people.

The Company has been affected by the COVID-19 pandemic as the company has shifted itsRegistered Office by vacating the 4th Floor of the office portion by providing the Workfrom home facility to its employees those who were working on Genius Doc projects andmoved the Microsoft Navision and administrative department to the 3rd floor.

There was no impact of COVID-19 in the financial Performance of the Company.

For detailed analysis of the performance please refer to management's discussion andanalysis section of the annual report.

4. LISTING OF EQUITY SHARES:

The Company's Equity shares are presently listed on BSE Limited and the Company haspaid the Annual Listing Fees to the said Stock Exchanges for the financial year 2020 -2021.

5. TRANSFER TO RESERVES:

The profit of Rs. 22685171/-earned during the year has been adjusted against thelosses and the remaining profit will be retained in the company to meet the futurerequirements. Hence your company does not propose to transfer any amount to the Reserves.

6. CHANGE IN NATURE OF BUSINESS IF ANY:

During the year under review there has been no change in the nature of business of theCompany.

7. CHANGES IN SHARE CAPITAL:

During the Financial year 2020-21 the Authorized Share Capital and Paid-Up Capital asat 31 st March 2021 stood at Rs. 120000000/- and Rs. 115854000/- respectively. TheCompany had neither issued any shares nor instruments convertible into equity shares ofthe Company or with differential voting rights nor has granted any stock options or sweatequity.

8. DIVIDEND:

In order to conserve cash for the Company's operations the Directors do not recommendany dividend for the year under review. The Company does not propose to carry any amountto the reserves.

9. INVESTOR EDUCATION AND PROTECTION FUND (IEPF):

Pursuant to the applicable provisions of the Companies Act 2013 read with the IEPFAuthority (Accounting Audit Transfer and Refund) Rules 2016 ("the IEPFRules") all unpaid or unclaimed dividends are required to be transferred by theCompany to the IEPF established by the Government of India after the completion of sevenyears. Further according to the Rules the shares on which dividend has not been paid orclaimed by the shareholders for seven consecutive years or more shall also be transferredto the demat account of the IEPF Authority.

However there are no amount/shares available to be transferred to Investor Educationand Protection Fund (IEPF) during the year under review.

10. MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OFTHE FINANCIAL YEAR AND DATE OF REPORT:

There are no other material changes and commitments in the business operations of theCompany from the financial year ended 31st March 2021 except-

CHANGE IN THE REGISTERED OFFICE OF THE COMPANY:

The Board of Directors at their meeting held on 29th June 2020 considered andapproved the Shifting of Registered Office of the Company from existing 3rd and 4th FloorAVR Towers6-3-1112 Behind West Side showroom Near Somajiguda Circle Begumpet HyderabadTG 500016 to 3rd Floor AVR Towers 6-3-1112 Behind West Side showroom Near SomajigudaCircle Begumpet Hyderabad TG 500016.

The Board considered and approved the Shifting of Registered Office of the Company byvacating 4th Floor of the office portion and took note of the Registered Office of theCompany.

The Directors of the Company have been informed that the company has taken 2 floors onlease wherein 3rd floor is occupied by Genius Doc team and 4th floor is occupied by theMicrosoft Navision and administrative department.

The management in their meeting has decided to ask the Genius Doc software team to workfrom home permanently and decided to vacate the 4th floor and move the Microsoft Navisionand administrative department to the 3rd floor after following the necessary precautionsas given by the government due to Covid-19.

There has been no change in the KMPs during the year under review. However based onthe recommendations of Audit Committee Nomination and Remuneration Committee and theBoard and subject to the approval of members in the ensuing 27th Annual General Meetingfor making the payment as Remuneration of

Rs. 300000/- P.M to Dr. Ramachandra Rao Nemani Chief Executive Officer

Rs. 100000/- P.M to Mr. Sunil Nemani Chief Financial Officer of the Companyrespectively.

Mr. V Bala Subramanyam Whole-time Director of the Company for an amount of Rs.2268517/- as Bonus for FY 2020- 21.

11. PERFORMANCE AND FINANCIAL POSITION OF THE SUBSIDIARY COMPANY:

During the year the Board of Directors ('the Board') reviewed the affairs of thesubsidiary. In accordance with Section 129(3) of the Companies Act 2013 we have preparedconsolidated financial statements of the Company and its subsidiary which form part ofthe Annual Report. Further a statement containing the salient features of the financialstatement of the subsidiary in the prescribed format AOC - 1 is appended as Annexure 1 tothe Board's report. The statement also provides the details of performance financialpositions of each of the subsidiaries.

In accordance with Section 136 of the Companies Act 2013 the audited financialstatements including the consolidated financial statements and related information of theCompany and audited accounts of the subsidiary are available on our websitewww.b2bsoftech.com. These documents will also be available for inspection during businesshours at our registered office.

12. CORPORATE GOVERNANCE:

The Corporate Governance Report and a certificate by the Statutory Auditors regardingcompliance of the conditions of corporate governance by your Company as stipulated inRegulation 34(3) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 are annexed to this Report.

13. MANAGEMENT DISCUSSION AND ANALYSIS:

The Management Discussion and Analysis forms an integral part of this Report and givesdetails of the overall industry structure developments performance and state of affairsof the company and other material developments during the financial year.

14. STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS:

As on March 312021 Mr. M Rambabu Mr. A Rambabu and Ms. Rajeswari Immani areIndependent Directors on the Board.

Pursuant to the provisions of Section 149 of the Act and Regulation 25 of the ListingRegulations the Independent Directors of the Company have submitted declarations thateach of them meets the criteria of independence as provided in Section 149(6) of the Actalong with Rules framed thereunder and Regulation 16(1 )(b) of Listing Regulations. Interms of Regulation 25(8) of the Listing Regulations the Independent Directors haveconfirmed that they are not aware of any circumstance or situation which exists or may bereasonably anticipated that could impair or impact their ability to discharge their dutieswith an objective independent judgment and without any external influence.

Further declaration on compliance with Rule 6(3) of the Companies (Appointment andQualification of Directors) Rules 2014 as amended by Ministry of Corporate Affairs("MCA") Notification dated October 22 2019 regarding the requirement relatingto enrollment in the Data Bank created by MCA for Independent Directors had been receivedfrom all Independent Directors.

SI. No. Name of the Director ID Registration Number No. of Years
1 Mr. M Rambabu IDDB-DI-202002-012533. 5 years from 20th Feb 2020 to 19th Feb 2025
2 Mr. A Rambabu IDDB-DI-202002-015605 5 years from 26th Feb 2020 to 25th Feb 2026
3 Ms. Rajeswari Immani IDDB-DI-202009-031250 1 year from 24 Sep 2020 to 23 Sep 2021

The Directors are being exempted from appearing for the exam of Independent Directorvide amendment in The Companies (Appointment and Qualification of Directors) Rules 2014dated 18th Dec 2020.

15. MEETING OF INDEPENDENT DIRECTORS:

The performance of the Individual Directors on the Board and the Committees thereof isdone by the Board and the Independent Directors in their exclusive meeting held on 13thNovember 2020.

16. VIGIL MECHANISM:

In terms of the provisions of Section 177 of the Companies Act 2013 your Company hasformulated a Whistle Blower Policy as a Vigil Mechanism. This mechanism aims forconducting the affairs in a fair and transparent manner by adopting highest standards ofprofessionalism honesty integrity and ethical behavior. All permanent employees of theCompany are covered under the policy.

This mechanism is for the employees to report concerns about unethical behavior actualor suspected fraud or violation of Code of Conduct and Ethics. It also provides foradequate safeguards against victimization of employees who avail of the mechanism andallows direct access to the Chairman of the Audit Committee in exceptional cases.

There were no complains received during the Financial year under review.

17. BOARD EVALUATION:

Pursuant to the provisions of the Companies Act 2013 and Regulation 34(3) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 the performanceevaluation of the Board and Individual Directors is done on annual basis.

The evaluation is done by the Board Nomination and Remuneration Committee andIndependent Directors with specific focus on the performance and effective functioning ofthe Board and Individual Directors.

18. CHANGES IN DIRECTORS:

RE-APPOINTMENTS:

Dr. Yaramati Satyanarayana Director of the Company who is liable to retire by rotationand hence in the current financial year Dr. Yaramati Satyanarayana (DIN: 00360679) isbeing considered for the Directors liable to retire by rotation.

Therefore Dr. Yaramati Satyanarayana (DIN: 00360679) retire at the ensuing AnnualGeneral Meeting and being eligible seek their re-appointment as no other Directors liableto retire by rotation were available. The Board recommends his re-appointment.

None of the independent directors will retire at the ensuing Annual General Meeting.

Mr. Suresh chode (DIN: 03473921) Director of the Company was re-appointed in the 26thAGM held on 26th September 2020 as director liable to retire by rotation.

CHANGES IN KEY MANAGERIAL PERSONNEL

The following have been designated as the Key Managerial Personnel of the Companypursuant to sections 2(51) and 203 of the Companies Act 2013 read with the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014:

a. Dr. Ramachandra Rao Nemani - Chief Executive Officer
b. Mr. Sunil Nemani - Chief Financial Officer
c. Mr. V. Bala Subramanyam - Executive Director
d. Mr. Rahul Kumar Bhangadiya - Company Secretary and Compliance Officer

Mr. V Bala Subramanyam Whole-time Director of the Company has been re-appointed for afurther period of 3 years in the 26th Annual General Meeting w.e.f 1st October 2020 andalso the approval of members has been obtained for making the payment of Performance Bonusfor an amount of Rs. 1194569/- for FY 2019-20.

One of the terms and conditions of his reappointment is payment of performance bonusbased on the performance of the Company.

Based on the recommendations of Audit Committee Nomination and Remuneration Committeeand after obtaining the approval of the members in the ensuing 27th Annual General Meetingfor making the payment of Performance Bonus to Mr. V Bala Subramanyam Whole-time Directorof the Company for an amount Rs. 2268517/-for FY 2020-21.

There has been no change in the KMPs during the year under review. However based onthe recommendations of Audit Committee Nomination and Remuneration Committee and theBoard and after obtaining the approval of the members in the ensuing 27th Annual GeneralMeeting for making the payment as Remuneration of Rs. 300000/- P.M to Dr. RamachandraRao Nemani Chief Executive Officer Rs. 100000/- P.M to Mr. Sunil Nemani ChiefFinancial Officer of the Company respectively.

19. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:

During the year under review 4 (Four) Board meetings were held on the following dates:

a. 29.06.2020

b. 14.08.2020

c. 13.11.2020

d. 12.02.2021

Attendance of Directors at the Board Meetings and Annual General Meeting has beenfurnished in the Corporate Governance Report which forms part of the Directors Report.The intervening gap between any two Board Meetings was within the period prescribed underthe provisions of the Companies Act 2013. All the recommendations given by the AuditCommittee have been accepted by the Board.

The company has availed the exemption of holding the Board Meeting more than 120 daysas per the Notification provided by the Ministry of Corporate Affairs (MCA) vide itsNotifications dated 19th March 2020 and March 24 2020 and the Securities and ExchangeBoard of India (SEBI) vide its Circular dated March 192020.

20. COMMITTEES OF THE BOARD

As on March 31 2021 the Board had three committees: the audit committee thenomination and remuneration committee and the stakeholder's relationship committee.

a. Audit Committee:

The Details pertaining to the Constitution of Audit Committee is mentioned as under:

Mr. M Rambabu-Chairman

Mr.ARam Babu-Member Mr. Chode Suresh - Member Ms. Rajeswari Immani - Member

All members of the Audit Committee are financially literate and have experience infinancial management.

The Board of Directors have accepted all the recommendations given by the AuditCommittee.

Mr. M. Rambabu is the Chairman of the Audit Committee. The terms and reference of AuditCommittee and details of meetings held during the financial year 2020-21 and theattendance of members are given in the Corporate Governance Report which forms part ofthe Directors Report.

b. Nomination and Remuneration Committee:

The Details pertaining to the Constitution of Nomination and Remuneration Committee ismentioned as under:

Mr. ARambabu - Chairman Mr. M. Rambabu - Member Mr. Chode Suresh - Member Ms. RajeswariImmani - Member

Mr. A. Rambabu is the Chairman of the Nomination and Remuneration Committee. The termsof reference and the Nomination and Remuneration policy and details of meetings heldduring the financial year 2020 - 21 and the attendance of members are provided in theCorporate Governance Report which forms part of the Directors Report.

c. Stakeholders Relationship Committee:

The Details pertaining to the Constitution of Stakeholders Relationship Committee ismentioned as under:

1. Ms. Rajeswari Immani - Chairman

2. Mr. M Rambabu - Member

3. Mr. V. Bala Subramanyam - Member

Ms. Rajeswari Immani is the chairman of the Committee. The terms of reference and thedetails of meetings held during the financial year 2020 - 21 and the attendance of themembers are provided in the Corporate Governance Report which forms part of the DirectorsReport.

21 .INTERNAL FINANCIAL CONTROL:

The Board has adopted the policies and procedures for ensuring the orderly andefficient conduct of its business including adherence to the Company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial disclosures.

22. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Section 134(5) of the Act and based on therepresentations received from the management the directors hereby confirm that:

i. in the preparation of the annual accounts for the financial year 2020 - 21 theapplicable accounting standards have been followed and there are no material departures;

ii. selected such accounting policies and applied them consistently and made judgmentsand estimates that are reasonable and prudent so as to give a true and fair view of thestate of affairs of the Company at the end of the financial year and of the profit of theCompany for the financial year;

iii. and sufficient care to the best of their knowledge and ability for the maintenanceof adequate accounting records in accordance with the provisions of the Act. They confirmthat there are adequate systems and controls for safeguarding the assets of the Companyand for preventing and detecting fraud and other irregularities;

iv. prepared the annual accounts on a going concern basis;

v. laid down internal financial controls to be followed by the Company and that suchinternal financial controls are adequate and operating properly; and

vi. devised proper systems to ensure compliance with the provisions of all applicablelaws and that such systems were adequate and operating effectively.

23. PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS:

During the financial year 2020-21 your company had not given any loans or provided anyguarantees or made any investments as specified under the provisions of Section 186 of theCompanies Act 2013 read with rules made there under. However the Company is regularinvestor in the scrips of mutual funds which is outside the purview of the provisions ofSection 186 of the Companies Act 2013. The Company has invested Rs. 97408880/- inmutual funds as on 31st March 2021.

24. TRANSACTIONS WITH RELATED PARTIES:

There were no related party transactions during the year except that entered in theordinary course of business and on arm's length basis. There were no materiallysignificant related party transactions between your Company and the Directors promotersKey Managerial Personnel and other designated persons which may have a potential conflictwith the interest of company at large.

Policy on the related parties as required under SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 is available on the company's website:https://b2bsoftech.com/lnvestors.html

All the material contracts with related parties have been approved by the AuditCommittee and the Members of the Company. Form AOC-2 for disclosure of particulars ofcontracts/arrangements entered into by your company with related parties is attachedherewith as Annexure -II.

25. RISK AND RISK MITIGATIONS

Microsoft Dynamics being a growing business new entrants into the market andcompetition will continue to exert pricing pressure undermining industry profitability.Strategic positioning and generating higher level of economic value by continuing to buildIP and offer value added services around verticals and add-on's is mandatory.

Scale of operations is limited to the existing level unless a fresh funding route isidentified. The Board of Directors of your company have not identified any risks whichwill affect the going concern nature of the company.

26. TECHNOLOGY ABSORPTION ENERGY CONSERVATION & FOREIGN EXCHANGE EARNINGS ANDOUTGO:

Information in accordance with clause (m) of sub section (3) of Section 134 of theCompanies Act 2013 is annexed herewith as Annexure- III to this report.

27. PARTICULARS OF EMPLOYEES:

The information required pursuant to Section 197 of the Companies Act 2013 read withRule 5(1) of the Companies Act (Appointment and Remuneration of Managerial Personnel)Rules 2014 in respect of employees of the Company are provided in Annexure- IV and formspart of this report.

The statement containing particulars of employees as required under Section 197 of theCompanies Act 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 is provided in Annexure IV and forms part of thisreport.

The Nomination and remuneration committee of the Company has affirmed that theremuneration is as per the Remuneration policy of the Company.

Your Directors take this opportunity to record their deep appreciation of thecontinuous support and contribution from all employees of the Company.

28. CORPORATE SOCIAL RESPONSIBILITY:

Your Company does not fall under any of the criteria specified under the provisions ofCompanies Act 2013. Hence the Company has not constituted any committee and is requiredto furnish any information in this report as required under the provisions of the saidAct.

29. EXTRACT OF ANNUAL RETURN:

As provided under Section 92(3) & 134(3)(a) of the Act Annual Return for FY2020-21 is uploaded on the website of the Company and can be accessed athttps://b2bsoftech.com/lnvestors.html

30. PREVENTION OF INSIDER TRADING:

Your Company has adopted the Code of Fair Disclosure and Code of Conduct for regulatingthe dissemination of Unpublished Price Sensitive Information and trading in securities byInsiders.

31. DEPOSITS:

During the year under review your Company has not accepted any fixed deposits and assuch no amount of principal or interest was outstanding as of the Balance Sheet date.However the Company has obtained security deposits from employees but it is notconsidered as Deposits as per the provisions of Companies Act 2013 and the rules madethereunder.

32. AUDITORS:

a. Statutory Auditors:

Pursuant to the provisions of Section 139 (2) (b) the Companies Act 2013 M/s.Umamaheswara Rao & Co. (Firm Registration No.: 004453S) Chartered Accountants hasbeen re-appointed for a term of three consecutive years from the conclusion of 25th AnnualGeneral Meeting until the conclusion of 28th Annual General Meeting without requirement ofany further ratification by the members of the Company at subsequent Annual GeneralMeetings.

The Auditors' Report to the Shareholders for the year under review does not contain anyqualification.

b. Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Companies Act 2013 and Rule 9 of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 the Companyhas appointed M/s. DSMR & Associates Prop. Mr. DSM Ram Company Secretary in Wholetime Practice to undertake the Secretarial Audit of the Company for the financial year2020 -2021. The Secretarial Audit report is annexed herewith as Annexure - V.

c. Internal Auditor

Pursuant to the provisions of Section 138 of the Companies Act 2013 read with Companies(Accounts) Rules 2014 the Company has appointed M/s M. Vijaya Kumar & Co. CharteredAccountants as the Internal Auditors of the Company for the financial Year 2021 -22.

d. Annual Secretarial Compliance Report

The Company has undertaken an audit for the financial year 2020-21 for all applicablecompliances as per Securities and Exchange Board of India Regulations andCirculars/Guidelines issued thereunder. The Annual Secretarial Compliance Report issue byM/s. DSMR & Associates Prop. Mr. DSM Ram Company Secretary in Whole time PracticeHyderabad has been submitted to the Stock Exchanges within the specified time and same isannexed herewith as Annexure - VI

REPLY TO OBSERVATION RAISED BY THE SECRETARIAL AUDITOR:

1. The Company is in the process of complying with the requirement of achieving 100%holding of the promoters in Demat forms as required under the SEBI (Listing obligationsand Disclosure Requirements) Regulations 2015.

33. FRAUDS REPORTED BY AUDITORS:

There are no instances of frauds reported by auditors pursuant to sub-section (12) ofSection 143 which are reportable to the Central Government.

34. DISCLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITIONAND REDRESSAL) ACT 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted apolicy on prevention prohibition and redressal of sexual harassment at workplace in linewith the provisions of Sexual Harassment of Women at Workplace (Prevention Prohibitionand Redressal) Act 2013 and the rules framed there under.

Your company has also complied with provisions relating to the constitution of internalcomplaints committee under sexual harassment of women at workplace (preventionprohibition and redressal) act 2013.

During the financial year 2020-21 the Company has not received any complaints onsexual harassment.

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

There are no significant and material orders passed by the regulators or courts ortribunals impacting the going concern status and Company's operations in future.

36. MAINTENANCE OF COST RECORDS

The provisions of Section 148 of the Companies Act 2013 are not applicable for theyear since the Company is not falling under the category of class Companies as prescribedunder Sub-section (1) of Section 148 of the Companies Act 2013 and Rules framedthereunder.

37. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETING

The Institute of Company Secretaries of India has currently mandated compliance withthe Secretarial Standards on Board Meetings and General Meetings. During the year underreview the Company has complied with the applicable Secretarial Standards.

38. CORPORATE INSOLVENCY RESOLUTION PROCESS INITIATED UNDER THE INSOLVENCY ANDBANKRUPTCY CODE 2016 (IBC)

No application has been filed for Corporate Insolvency Resolution process by thecompany under the IBC before the National Company Law Tribunal (NCLT) during the yearunder review.

39. SIGNIFICANT AND MATERIAL ORDERS

There are no significant and material orders passed by the regulators or courts ortribunals impacting the going concern status and the Company's operations in future.

40. ACKNOWLEDGEMENTS:

Your Directors place on record their appreciation for the assistance and co-operationextended by the Bankers STPI Customs and Central Excise and various State and CentralGovernment Agencies. Your Directors also thank all the Customers Members and Employeesfor their valuable support and confidence in the Company.

Place: Hyderabad For and on behalf of the Board
Date :16th July 2021 V. BALASUBRAMANYAM YARAMATI SATYANARAYANA
Executive Director Non - Executive Director
DIN: 06399503 DIN: 00360679

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