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Inventure Growth & Securities Ltd.

BSE: 533506 Sector: Financials
NSE: INVENTURE ISIN Code: INE878H01024
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VOLUME 1113903
52-Week high 4.80
52-Week low 2.36
P/E 30.50
Mkt Cap.(Rs cr) 205
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.44
CLOSE 2.46
VOLUME 1113903
52-Week high 4.80
52-Week low 2.36
P/E 30.50
Mkt Cap.(Rs cr) 205
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Inventure Growth & Securities Ltd. (INVENTURE) - Director Report

Company director report

Dear Members

Your Directors are pleased to present the 26^ Annual Report of your Company togetherwith the Audited Statement of Accounts and the Auditors? Report of your company for theFinancial Year ended 31s* March 2021.

The summarized financial results for the year ended 31s* March 2021 are asunder: FINANCIAL HIGHLIGHTS i Standalone Financial Information:

(Rs In Lacs)

Particulars

For the year ended

31-Mar-21 31-Mar-20
Gross Income 3138.38 2233.70
Profit Before Depreciation Interest & Tax 1167.07 627.88
Less: Depreciation 37.39 42.28
Interest 15.85 120.11
Profit Before Tax 1113.82 465.49
Current Tax 166.89 43.86
Deferred Tax 178.54 (10.85)
Net Profit/(Loss) 768.38 432.49
Add: Profit brought forward from earlier years - -
Profit available for appropriation 768.38 432.49
Appropriations - -
Last year dividend paid - -
Last year dividend tax paid - -
Proposed Dividend - -
Interim Dividend - -
Dividend Tax - -
General Reserve - -
Balance carried to Balance sheet 768.38 432.49
Basic and Diluted Earnings Per Share 0.91 0.51

ii Consolidate Financial Information:

(Rs In Lacs)

Particulars

For the year ended

31-Mar-21 31-Mar-20
Gross Income 4061.80 3127.87
Profit Before Depreciation Interest & Tax 1928.67 290.71
Less: Depreciation 56.72 59.88
Interest 71.99 236.24
Profit Before Tax 1799.97 (5.41)
Current Tax 331.31 183.99
Deferred Tax 223.85 (194.25)
Net Profit /(Loss)(after Minority Interest) 1244.80 4.86
Add: Profit brought forward from earlier years " "
Adjustment arising on consolidation " "
Profit available for appropriation 1244.80 4.86
Appropriations " -
Last year dividend paid " "
Last year dividend tax paid
Proposed Dividend " "
Interim Dividend " "
Dividend Tax
General Reserve " "
Statutory Reserve
Balance carried to Balance sheet 1244.80 4.86
Basic and Diluted Earnings Per Share 1.48 0.01

1. OVERVIEW OF COMPANY'S FINANCIALPERFOMANCE. STANDALONE:

The company has earned a Profit of Rs.768.38 lakhs (before OCI) lakhs for the currentfinancial year 2020-2021.

CONSOLIDATED:

The company has earned a Profit of Rs. 1244.80 lakhs (before OCI) for the financialyear 2020-2021.

2. CHANGE IN NATURE OFBUSINESS.

There is no change in nature of business of the Company

3. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF THECOMPANY.

There are no material changes and commitments affecting the financial position of yourCompany which have occurred between the end of the financial year 20202021 and the date ofthis report.

4. SHARES.

Company has not issued any bonus Shares securities with Differential Voting Rightsany SWEAT Equity any Employee Stock Option or any preferential issue of Warrants orConvertible into Equity Shares along with your Company has not brought back any securitiesfrom Market.

5. CONSOLIDATEDACCOUNTS.

In compliance with the Companies Act 2013 and SEBI (Listing Obligation and DisclosureRequirements) Regulations2015(the Listing Regulations) Consolidated financial statementsof the Company and all of its subsidiaries and associate have been prepared for the yearunder report. The audited Consolidated financial statements along with the auditors?report thereon forms part of this Annual report. The consolidated financial statementspresented by the Company include the financial results of all its subsidiaries andassociate. The audited standalone financial statements of these entities have beenreviewed by the Audit Committee and the Board.

6. SUBSIDIARIES.

The Company has total Six (6) Subsidiaries Companies"

Inventure Finance Private Limited Inventure Commodities Limited Inventure WealthManagement Limited Inventure Insurance Broking Private Limited Inventure Merchant BankersServices Private Limited Inventure Developers Private Limited

Any member desirous of obtaining a copy of the said financial statements may write tothe Company Secretary at the Registered Office of your Company. The financial statementsincluding the consolidated financial statements financial statements of

subsidiaries and all other documents required to be attached to this report have beenuploaded on the website of your Company (www.inventuregrowth.com) The financialperformance of each of the subsidiaries included in the consolidated financial statementsof your Company is set out in the Annexure A as AOC-1 to this Report. Additional detailsof the performance and operations of the subsidiaries along with details of therestructuring and investments made by your Company are set out in the ManagementDiscussion and Analysis which also forms part of this report.

7. MANAGEMENT DISCUSSION ANDANALYSIS.

The Management Discussion and Analysis (MDA) report for the year of the operations andstate of the affairs of your Company and all of its subsidiaries or associate is given ina separate section of this Annual Report and forms part of this Annual Report.

8. CORPORATE GOVERNANCE REPORT.

The Company is committed to maintain highest standards of corporate governance alignedwith the best practices. Pursuant to applicable provisions of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 a detailed report on CorporateGovernance forms part of this Report. The Company is in compliance with the variousrequirements and disclosures that have to be made in this regard. A certificate from theAuditors confirming compliance of the conditions of Corporate Governance as stipulatedunder the Listing Regulations forms part of the Annual Report.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THEREGULATORS.

A) In connection with the Show Cause Notice dated 30/06/2016 under Section 11(1)11(4) 11A and 11B of SEBI Act 1992 in the matter relating to public issue received fromSEBI The SEBI Whole Time Member has passed an Order against The Company Its Directorsand KMP of the Company as on 10.10.2019

The Company had filed Review Applications and SAT had passed an Order on reviewapplications as on 06.02.2020. All The review applications has been dismissed and thedebarment period has been reduced from 4 years to 3 years. The Company has filed an Appealat Supreme Court against the SAT Order and Hearing is pending at Supreme Court.

B) Show Cause Notice No. EAD-7/ADJ/KS/AS/OW/3851/1/2021 dated February 09 2021 underRule 4 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules 1995 readwith Section 15-1 of the Securities and Exchange Board of India 1992 and under Rule 4 ofthe Securities Contracts (Regulation) (Procedure for Holding Inquiry and ImposingPenalties) Rules 1995 read with Section 23-I of the Securities Contracts (Regulation)Act 1956 in the matter of Inventure Growth and Securities Limited for the inspectionperiod of 2012-2015.

C) Show Cause Notice bearing ref no. EAD-6 BM / RSL / 39094 / 2011 dated 27 December2011 ("SCN") issued in the matter of Pyramid Symira Theatres Ltd to InventureGrowth and Securities Limited ("IGSL") wherein final AO order NoorderAA//AA/2021-22/12070-12078 passed on 31/05/2021 with penalty of Rs.300000/- (RupeesThree Lacs Only).and The Company has challenged the said order at SAT.

D) Show Cause Notice bearing ref no. EAD DRA-II/ BR / PP /13400 / 2015 dated 30 April2015 ("SCN") issued in the matter of Pyramid Symira Theatres Ltd to InventureGrowth and Securities Limited ("IGSL") wherein WTM SEBI has debarred the IGSLfor 2 years vide order No WTM/AB/IVD/ID2/7987/2020-21 dated 23/06/2020 & said orderchallenge by us at SAT and next hearing will be conduct on 16/09/2021. The order for theabove mentioned Notice is awaited.

9. TRANSFER TO RESERVE.

There is also no specific statutory requirement to transfer any sum to General reserve.Your Directors therefore have not proposed any sum for transfer to Reserves during thisYear.

10. DIVIDEND.

Your Company has not proposed any dividend for the year 2020-2021.

11. DIRECTORS AND KEY MANAGERIAL PERSONNEL.

Mr. Kamlesh S. Limbachiya Whole Time Director of the Company is liable to retire byrotation at the ensuing AGM pursuant to the provisions of Section 152 of the CompaniesAct 2013 read with the Companies (Appointment and Qualification of Directors) Rules 2014and the Articles of Association of your Company and being eligible have offered himelf forreappointment. Appropriate resolution for his reappointment is being placed for yourapproval at the ensuing AGM. The brief resume of the Directors and other relatedinformation has been detailed in the Notice convening the 26^ AGM of your Company. YourDirectors recommend his re-appointment as Whole Time Director of the Company.

During the financial year Mr. Ajay Khera Independent Director Mr. Meet K. RitaWhole Time Director Mr. Harilal B. Rita Non-Executive Director has resigned from theCompany and Mr. Dilip C. Shah Independent Director Office vacated w.e.f 15.07.2020 as perSection 167 of the Companies Act 2013.

All the Independent Directors have given declaration that they meet the criteria ofindependence laid down under Section 149 of the Companies Act 2013 and the ListingRegulations. Every Independent Director of the Company have affirmed that they haveregistered themselves under Independent Director Database and they will pass onlineproficiency test as may be required or applicable to them individually. The IndependentDirectors of Company hold office up to September 2022 and are not liable to retire byrotation.

Shri Kanji B. Rita Chairman & Managing Director and Shri Kamlesh S. LimbachiyaWhole Time Director Mrs. Bhavi Gandhi Company Secretary and Mr. Arvind Gala ChiefFinancial Officer are the Key Managerial Personnel of your Company in accordance with theprovisions of Sections 2(51) 203 of the Companies Act 2013 read with Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 (including anystatutory modification(s) or re-enactment(s) for the time being in force).

12. DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS KEY MANAGERIAL PERSONNEL ANDPARTICULARS OF EMPLOYEES:

The remuneration paid to the Directors is in accordance with the Nomination andRemuneration Policy formulated in accordance with Section178 of the Companies Act 2013and Regulation19oftheListingRegulations (including any statutory modification(s) orreenactments) for the time being in force)

Further details of Directors including remuneration remuneration policy criteria forqualification independence; performance evaluation of the Board Committees andDirectors; meetings committees and other details are given in the Corporate GovernanceReport which is integral part of this Annual and BoardDs Report. Remuneration policy isposted in investors corporate governance section on the Company's website orlinkwww.inventuregrowth.com and salient features of the same are mentioned in theCorporate Governance Report.

The Managing Director & Whole Time Directors of your Company does not receiveremuneration from any of the subsidiaries of the Company.

13. DIRECTORS RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to the information andexplanations obtained by them your Directors make the following statements in terms ofSection 134(3) (c) of the Companies Act 2013:

a) that in the preparation of the annual financial statements for the year ended 31March 2021 the applicable accounting standards have been followed along with properexplanation relating to material departures if any;

b) that accounting policies have been selected and applied consistently and judgmentand estimates have been made that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company as at 31 March 2021 and of the profit of theCompany for the year ended on that date;

c) that proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

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

e) that proper internal financial controls were in place and that the financialcontrols were adequate and were operating effectively;

f) That systems to ensure compliance with the provisions of applicable laws were inplace and were adequate and operating effectively.

14. EVALUATION OF BOARDdS PERFORMANCE:

Nomination and Remuneration Committee and the Board adopted performance evaluationpolicy for Board Committees and Directors with intents to set out criteria manners andprocess for the performance evaluation. The policy provides manners to evaluateperformance of the Board committees independent directors nonindependent directors andchairman. Criteria in this respect includes; Board composition mix of skill experiencemembersD participation and role attendance suggestions for effective functioning boardprocess policies and others. The evaluation process includes review discussion andfeedback from directors and rating on questioners through online software based system.Evaluation of Performance of the Board its committees every Director and Chairpersonfor the financial year 2020-2021 has been done following the manner and processas per thepolicy which includes discussion feedback assessment and rating on questioners. Themanner in which the evaluation has been carried out has also been explained in theCorporate Governance Report which forms part of this Annual Report

15. NUMBER OF MEETINGS OF THE BOARD AND ITSCOMMITTEES

During the financial year 2020-2021 the Board met for 4(Four) times and there were 4Audit committee Meetings held. The details of the meetings of the Board of Directors andits Committees convened are given in the Corporate Governance Report which forms a partof this report.

The intervening gap between the Meetings was within the period prescribed under theCompanies Act 2013. The Company has complied with the Secretarial Standard as issued bythe ICSI.

16. AUDITORS AND AUDITORS^ REPORT

A. STATUTORYAUDITORS

The Members at the Annual General meeting held on 26th December 2020appointed appoint M/S PPV & Co. (Firm Registration No 153929W) Chartered AccountantsMumbai as Statutory Auditors of the Company) for a term of 5 years up to the Conclusionof Annual General Meeting to be held for the financial year 2024-25.

M/S PPV & Co. Chartered Accountants (Firm Registration No 153929W) have confirmedtheir eligibility and qualification required under section 139 and 141 and otherapplicable provisions of the Companies Act 2013 and the Companies (Audit and Auditors)Rules 2014 (including any statutory modification(s) or reenactments) thereof for the timebeing in force for their continuation as statutory auditors.

In terms of the Listing Regulations the Auditors have confirmed that they hold a validcertificate issued by the Peer Review Board of the ICAI.

Reporting of Fraud

The Auditors of the Company have not reported any fraud as specified under Section143(12) of the Companies Act 2013.

Change in Accounting Policy

As per MCA Notification G.S.R. 365 (E) dated 30.03.2016 stock broking companies werecovered under Non-Banking Finance Companies and the IND- AS was applicable to NBFC listedentities having net worth below Rs 500 Crores effective from April 2019. Accordingly theCompany has adopted Indian Accounting Standards (IND - AS) with effect from April 1 2019.The effective date of such transition is April 1 2018.

B. INTERNALAUDITORS

The Company continues to engage SHAH & RAMAIYA Chartered Accountants as itsInternal Auditor. During the year the Company continued to implement their suggestionsand recommendations to improve the control environment. Their scope of work includesreview of processes for safeguarding the assets of the Company review of operationalefficiency effectiveness of systems and processes and assessing the internal controlstrengths in all areas. Internal Auditors findings are discussed with the process ownersand suitable corrective actions taken as per the directions of Audit Committee on anongoing basis to improve efficiency in operations.

C. SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed D. M. Zaveri & Co. a firm of Company Secretaries in Practice to undertakethe Secretarial Audit of the Company. The Report of the Secretarial Audit Report isannexed herewith as Annexure-B.

17. EXPLANATION OR COMMENTS ON QUALIFICATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADEBY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS RESERVATIONS

There was no qualification reservation or adverse remarks made by statutory auditor intheir report for the Financial Year ended 31set March 2021.

However There was following observation by secretarial auditor in their report for theFinancial Year ended 31s* March 2021.

Delay in filing of audited financial statements for the year ended 31/03/2020 approvedin its Board meeting held on 15/07/2018 which is required to be filed within 30 minutesfrom the conclusion of such board meeting.

As represented by the management the above referred minor delay occur due to technicaldifficulties as well as connectivity issued faced while uploading results with BSE/ NSE.

Delay in filing of un-audited financial statements for the quarter ended 30/06/2020approved in its Board meeting held on 12/09/2020 which is required to be filed within 30minutes from the conclusion of such board meeting.

As represented by the management there was some technical difficulties faced by theCompany for login at NEAPS System of NSE on 12.09.2020 in order to online submission ofoutcome of said board meeting hence in order to avoid any further delay the Company hadimmediately sent a mail to NSE at 08.23 PM i.e. within 30 min. from the conclusion of saidBoard Meeting.

Delay in filling of Shareholding pattern for the quarter ended 30.09.2020 which isrequired to be filed within 21 days of end of quarter.

As represented by the management the above delay occur in view of current pandemicsituation and due to work from home situation.

18. MAINTAINANCE OF COST RECORDS

The Company is not required to maintain cost records as specified by Central Governmentunder sub-section (1) of Section 148 of the Companies Act 2013

19. COMMITTEES OF THE BOARD

There are currently four committees of the board as indicated below:

1. Audit Committee

Audit Committee of the Board has been constituted as per the Listing Regulations andsection 177 of the Companies Act 2013. Constitution meetings attendance and otherdetails of the Audit Committee are given in Corporate Governance Report which is part ofthis Report.

2. Nomination and Remuneration Committee

NominationandRemunerationcommitteeoftheBoardhasbeenconstitutedaspertheListingRegulationsandsection178 of the Companies Act 2013. Constitution meetingsattendance and other details of the Committee are given in Corporate Governance Reportwhich is part of this Report.

3. Stakeholder Relationship committee

Stakeholder Relationship committee of the Board has been constituted as per the ListingRegulations and section 178 of the Companies Act 2013. Constitution meetings attendanceand other details of the Committee are given in Corporate Governance Report which is partof this Report.

4. Corporate Social Responsibility Committee

Details of all the committees along with their charters composition and meeting heldduring the year are provided in the report on Corporate Governance forms part of theAnnual Report

20. ANNUAL RETURN

Pursuant to section 134(3)(a) and Section 92(3) of Companies Act 2013 read withrelevant Rules framed thereunder The Annual Return of the Company in eform MGT-7 isavailable on the website of the Company at www.inventuregrowth.com

21. LOANS GUARANTEE AND INVESTMENTS UNDER SECTION 186 OF COMPANIES ACT2013

Details of loans guarantees and investments under the provisions of Section 186 of theCompanies Act 2013 read with the Companies (Meetings of Board and its Powers) Rules2014as on 31s* March2021are set out in Note no.40 to the Standalone FinancialStatements forming part of this report.

22. RELATED PARTY TRANSACTIONS

Arrangements or transactions entered by the Company during the financial year withrelated parties were on an arm's length basis and in the ordinary course of business. Allrelated party transactions are placed for approval before the Audit Committee and alsobefore the Board wherever necessary in compliance with the provisions of the Act andListing Regulations. During the year the Company has not entered into any contracts/arrangements/ transactions with related parties which could be considered material inaccordance with the policy of the Company on material related party transactions or undersection188(1) of the Act. Accordingly there are no particulars to report in Form AOC-2.Details of the related party transactions during the year as required under ListingRegulations and Indian accounting standards are given in note 39 to the standalonefinancial statements. The policy on dealing with the Related Party Transactions includingdetermining material subsidiaries is available on the Company's website or link:www.inventuregrowth.com

23. VIGIL MECHANISM

The Company has a whistle blower policy laying down a vigil mechanism to deal withinstances of unethical behavior fraud or mismanagement. The said policy has beenexplained in the corporate governance report and also displayed on theCompany'swebsitewww.inventuregrowth.com.

24. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIALRESPONSIBILITYINITIATIVES

Pursuant to Section 135 of the Companies Act 2013 and the relevant rules the Boardhas constituted Corporate Social Responsibility (CSR) Committee under the Chairmanship ofMr. Bharat P. Shah Independent Director. The other members of the Committee are Mr. KanjiB. Rita and Mr. Kamlesh S. Limbachiya. The Board of Directors based on therecommendations of the Committee formulated a CSR Policy. The detailed CSR Policy isavailable on web link www.inventuregrowth.comAnnual report on CSR as required underCompanies (Corporate Social Responsibility Policy) Rules2014.

The Company confirms that the implementation and monitoring of the CSR Policy is incompliance with the CSR objectives and Policy of the Company. Implementation by thecompany on its corporate social responsibility initiatives are Annexure C in this Report.

25. FAMILIARIZATION PROGRAMME

The Company's Policy on programme and measures to familiarize Independent Directorsabout the Company its businessupdatesanddevelopmentincludesvariousmeasuresviz.issueofappointmentletterscontainingtermsduties etc. management information reports presentation and other programmesas may be appropriate from time to time. The Policy and programme aims to provide insightsinto the Company to enable Independent Directors to understand the businessfunctionaries business model and others matters. The said Policy and details in thisrespect is displayed on the Companyns website.

26. LISTING OFSECURITIES

The Equity Shares of the Company are presently listed on BSE Limited National StockExchange of India Limited and Metropolitan Stock Exchange of India. However Company hasmade an application for Voluntary Delisting of Shares at Metropolitan Stock Exchange ofIndia Limited confirmation is awaited from the Exchange. The Annual Listing Fee for theyear 2020-2021 has been duly paid to the Stock Exchange.

27. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGSANDOUTGO.

The particulars required by the Section 134(3)(m) of the Companies Act 2013 ("theAct") read with rule 8 (3) of the Companies (Accounts) Rules 2014 in respect ofconservation of energy and technology absorption have not furnished considering the natureof activities undertaken by the Company during the year.

28. Foreign Exchange Earning and Outgo

Your Company has no foreign exchange earnings and outgo.

29. LEVERAGING DIGITALTECHNOLOGY

Innovative ideas and technology is introduced continuously to provide great userexperience to our customers business associates and employees. In association with the ITTeam the Company with active support from management has been investing time and effortin information technology solutions to demonstrate technological leadership.

30. Company's policy relating to directors appointment

PAYMENT OF REMUNERATION AND DISCHARGEOF THEIR DUTIES.

The Company's Policy relating to appointment of Directors payment of Managerialremuneration including criteria for determining Directors^ quafications positiveattributes independence of Directors and other related matters as provided under Section178(3) of the Companies Act 2013 is furnished in Annexure- D and is attached to thisreport.

31. RISK MANAGEMENTPOLICY.

TheCompanyhaslaiddownawell-definedriskmanagementmechanismcoveringtheriskmappingandanalysis risk

exposure potential impact and risk mitigation measures. Exercise is being carried outto identify evaluate manage and monitor the principal risks that can impact theCompany's abilityto achieve its strategic and financial objectives. Whenever necessarythe Board reviews the risks and suggests steps to be taken to control and mitigate thesame through appropriate framework. Details on the risk elements which the Company isexposed to are covered in the Management Discussion and Analysis whichformspartofthisAnnualReport.TheCompanyhasframedaRiskManagementPolicytoidentifyandassessthekeyriskareas monitor and report compliance and effectiveness of thepolicy and procedure.

32. PARTICULARS OF EMPLOYEES AND RELATEDDISCLOSURES.

Relations with employees across all the offices and units continued to be cordial. HRpolicies of the Company are focused on developing the potential of each employee. Withthis premise a comprehensive set of HR policies are in place aimed at attractingretaining and motivating employees at all levels. Your Company had 110 permanent employeesas on 31 March 2021.

The statement containing particulars of employees as required under Section 197(12) ofthe Companies Act 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 is annexed herewith as Annexure E andforms part of this Report.

The Company has not paid any remuneration to its Non-Executive Directors exceptsitting fees for attending the meetings of the Board and Committee thereof during the FY2020-2021. The details of the same are provided in the corporate governance Report formspart of the Annual Report.

33. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE(PREVENTION PROHIBITION AND 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 the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013 and the Rules thereunder.

An Internal complaints committee has been set up to redress complaints receivedregarding sexual harassment. All employees (permanent contractual temporary trainees)are covered under this policy.

During the year 2020-2021 no complaints were received by the Company related to sexualharassment.

34. DEPOSITS (UNDER CHAPTERV):

During the year your Company has not accepted and/or renewed any public deposits interms of the provisions of Section 73 and 76 of the Companies Act 2013 read with theCompanies (Acceptance of Deposits) Rules 2014 as amended.

35. INTERNAL FINANCIAL CONTROLS SYSTEMS ANDADEQUACY.

The Board has adopted policies and procedures for governance of orderly and efficientconduct of its business including adherence to the Company's policies safeguarding itsassets prevention and detection of frauds and errors accuracy and completeness of theaccounting records and timely preparation of reliable financial disclosures. The Company'sinternal control systems commensurate with the nature of its business the size andcomplexity of its operations.

The Audit Committee of the Board of Directors actively reviews the adequacy andeffectiveness of the internal control systems and suggests improvements to strengthen thesame. The Audit Committee of the Board of Directors Statutory Auditors and the SeniorManagement are periodically apprised of the internal audit findings and corrective actionstaken. Audit provides a key role in providing assurance to the Board of Directors.Significant audit observations and corrective actions taken by the management arepresented to the Audit Committee of the Board. To maintain its objectivity andindependence the Internal Audit function reports to the Chairman of the Audit Committee.

36. APPRECIATION.

Your Directors would like to take this opportunity to express sincere gratitude to thecustomers bankers and other business associates for the continued cooperation andpatronage. Your Directors gratefully acknowledge the ongoing co-operation and supportprovided by the Government Regulatory Bodies and the Stock Exchanges. Your Directorsplace on record their deep appreciation for the exemplary contribution made by theemployees at all levels to the growth and profitability of your

For Inventure Growth & Securities Limited
Sd/- Sd/-
Mr. Kanji B. Rita Mr. Kamlesh S Limbachiya
(Chairman & Managing Director) (Whole -Time Director)

.