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Max Alert Systems Ltd.

BSE: 534563 Sector: Others
NSE: N.A. ISIN Code: INE253N01010
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VOLUME 23200
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OPEN 4.90
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VOLUME 23200
52-Week high 8.66
52-Week low 3.62
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Max Alert Systems Ltd. (MAXALERT) - Director Report

Company director report

To the Members of the Company

Your Directors have pleasure in presenting the 17th Annual Report on theBusiness and Operations of your company with audited accounts for the financial year endedon 31st March 2020. The financial results of the company are summarized below:

FINANCIAL RESULTS

PARTICULARS FINANCIAL YEAR ENDED 31st MARCH 2020 FINANCIAL YEAR ENDED 31st MARCH 2019
Total Revenue 118523718.00 190852984.00
Profit/(Loss) before Taxation 357954.00 469977.00
Provision for Taxation - -
Current Tax 92173.00 118927.00
Deferred Tax 80913.00 49044.00
Tax of earlier year - -
Profit/(Loss) After Tax 184868.00 302006.00

FINANCIAL HIGHLIGHTS AND PERFORMANCE OF THE COMPANY

The total revenue of the company for the financial year 2019-20 is Rs. 118523718/- ascompared to Rs. 190852984/-for the previous financial year ended 31st March 2019.Profit before Tax is Rs. 357954/- in the current financial year as compared to Rs.469977/- for the previous financial year ended 31st March 2019.Profitafter Tax for thecurrent financial year is Rs. 184868/-

IMPACT OF COVID-19 PANDEMIC AND MITIGATION MEASURES IMPLEMENTED

Due to COVID-19 outbreak globally in 2020 and to restrict the spread of the pandemic inIndiathe Government announced national lockdown with effect from March 2020 whichcaused disruption of supply of goods across business and industries. These restrictionshad resulted in temporary shutdown of operations at all plants and offices forapproximately 30 days The Company has taken various steps to support its variousstakeholders and maintain operations. . In accordance with the Government's directive postpartial lifting of the lockdown from April 2020 and after receiving the necessaryapprovals from the respective government departments the Company had resumed partialoperations. The necessary precautions and safety measures are put in place to maintainsocial distancing. The Company's business was reduced approximately by 36% due to COVID-19pandemic.

BUSINESS OVERVIEW

Max Alert Systems Ltd is a natural resource-based building materials company. TheCompany supplies aggregates (crushed stone sand and gravel) through quarries / mines anddistribution yards to its customers in Jharkhand. Company also provides cement anddownstream products namely pavers Hollow Bricks in vertically-integrated structuredmarkets where as the Company has a leading position in aggregates. The Company'sheavy-side building materials are used in infrastructure non-residential and residentialconstruction projects. Aggregates are also used in

Building construction and infrastructure projects and as railroad ballast. Theaggregates paver tiles and Hollow bricks and paving product lines are reportedcollectively as the "Building Materials" business.

DIVIDEND

The directors do not recommend any dividend for the financial year under review.DEPOSITS

The Company has not accepted any deposits under the applicable provisions of theCompanies Act 2013 and rules framed there under.

RESERVES

Your directors propose to carry Rs. 184868/- being the profit for the current year tothe Balance Sheet during the financial year ended 31st March 2020.

CAPITAL STRUCTURE

There was no change in the Authorized and Paid-up Share Capital of the company duringthe year.

The Authorized Share Capital of the company is Rs. 100000000/- (Rupees Ten Croreonly) divided into 10000000 (One Crore) Equity Shares of Rs. 10/- each.

The Paid-up Share Capital of the company is Rs. 91995000/- (Rupees Nine CroreNineteen Lac Ninety Five Thousand only) divided into 9199500 (Ninety One Lac Ninety NineThousand Five Hundred) Equity Shares of Rs. 10/- each.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report is enclosed as Annexure 4 of this report.

CORPORATE GOVERNANCE REPORT

Your company is not attaching a separate Corporate Governance Report as it is exemptedunder the Regulation 15 of the SEBI (Listing Obligation and Disclosure Requirement)Regulation 2015.

LISTING

The Company's shares are listed on BSE (SME Exchange) Limited. The Company has paidlisting fees for the Financial Year 2019-20 to BSE Limited. For Financial year 2020-21the listing fees is to be paid.

The company was suspended from trading w.e.f 27th February 2017 on account ofnon-compliance with Regulation 33 of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015.

After due process of revocation the suspension in trading of equity shares of thecompany was revoked w.e.f. January 30 2019 vide BSE Notice dated 22nd January 2019.(Link:

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20190122-6)

DIRECTORS AND KEY MANAGERIAL PERSONNEL

1. CHANGES IN DIRECTORS

Mr. Josephluis Joseluis Dsouza (DIN: 01186915) was regularize and appointed as theManaging Director of the Company with effect from 30th March 2019 in the 16th AnnualGeneral Meeting held on 30th September 2019.

Mr. Santhosh K Balachandran (DIN: 01141534) ceased to be Whole Time Director/ Directorwith effect 23rd April 2019.

Mr. Valiyakath Adimakungu Noushad (DIN: 05199442) and Mr. Anirudh Shrikrishna Sadhale(DIN: 06683457) was re-appointed as Independent Directors of the Company for a second termof Five (5) year in the 16th Annual General Meeting held on 30th September 2019.

2. DECLARATION BY INDEPENDENT DIRECTORS

Ms. Pushpa Prakash (DIN: 06717753) Mr. Valiyakath Adimakungu Noushad (DIN: 05199442)and Mr. Anirudh Shrikrishna Sadhale (DIN: 06683457) have given a declaration that theymeet the criteria of independence as laid down under section 149(6) of the Companies Act2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 andthere has been no change in the circumstances which may affect their status as IndependentDirectors during the year.

3. CHANGES IN KEY MANAGERIAL PERSONNEL

Mr. Santhosh K. Balachandran (DIN: 01141534) Whole Time Director was enlisted in thelist of disqualified directors issued by the Ministry of Corporate Affairs in December2018 and therefore has resigned from the Company on 23rd April 2019.

MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors of the company have met 5(Five) times during the year on 23rdApril 2019 10th May 2019 30th May 2019 31st August 2019 14th November 2019 in respect of which notices were given andproceedings were duly recorded signed and maintained in the Minutes Book kept by thecompany for the purpose. The intervening gap between the meetings was within the periodprescribed under the Companies Act 2013.

BOARD MEETINGS ATTENDANCE & COMMITTEE MEMBERSHIPS

The name and categories of the Directors on the Board and their attendance at BoardMeetings during the year as at 31st March 2020 are given below:

Name of Director Category of Directorship Attendance at
Board Meetings
#Mr. Josephluis Joseluis Dsouza Executive & Non- Promoter 5
Mr. Anirudh Shrikrishna Sadhale Non-Executive & Independent 5
Mr. Valiyakath Adimakungu Noushad Non-Executive & Independent 5
Ms. Pushpa Prakash Non-Executive & Independent 5

#Mr. Josephluis Joseluis Dsouza (DIN: 01186915) was appointed as an Additional Directorand Managing Director of the company with effect from 30th March 2019.

Note: Mr. Santhosh K Balachandran (DIN: 01141534) ceased to be Whole Time Director/Director with effect 23rd April 2019

COMMITTEES OF THE BOARD

AUDIT COMMITTEE:

A. Composition and Attendance

The Audit Committee comprises of Two Non-Executive and One Executive director namelyMr. Anirudh Shrikrishna Sadhale (Chairman) Mr. Valiyakath Adimakungu Noushad and Mr.Josephluis Joseluis Dsouza respectively as on 31st March 2020.

The Committee has met Three (3) on 10th May 2019 30th May2019 14th November 2019 during the year ended 31st March 2020.The Statutory Auditors are Invitees to the meeting.

Details of attendance of each director at the Audit Committee Meetings are givenbelow:-

Name of the Director Position Category Meeting attendance
Mr. Anirudh Shrikrishna Sadhale Chairman Non-Executive & Independent Director 3
Mr. Valiyakath Adimakungu Noushad Member Non-Executive & Independent Director 3
*Mr. Josephluis Joseluis Dsouza Member Executive Director & Non-Independent Director 3

*Mr. Santhosh Kunjuraman Balachandran (DIN: 01 141534) ceased to be the Whole TimeDirector of

the company w.e.f 23rd April 2019 and in place of Mr. Mr. Santhosh KunjuramanBalachandran Mr.Joseph

Joselius Dsouza was appointed as Member of the Committee.

NOMINATION AND REMUNERATION COMMITTEE:

A. Composition and attendance

The Nomination and Remuneration Committee comprises of Three Non-executive andIndependent Directors as on 31st March 2020 i.e. Mr. Valiyakath AdimakunguNoushad (Chairman) Mr. Anirudh Shrikrishna Sadhale and Ms. Pushpa Prakash respectively.The Committee has met two (2) times during the financial year ended 31st March2020

i.e. on 23rd April 2019 and 31st August 2020.

Name of the Member Position Category Meeting attendance
Mr. Valiyakath Adimakungu Noushad Chairman Non-Executive & Independent Director 2
Mr. Anirudh Shrikrishna Sadhale Member Non-Executive & Independent Director 2
Ms. Pushpa Prakash Member Non-Executive & Independent Director 2

B. Terms of Reference:

1) formulation of the criteria for determining qualifications positive attributes andindependence of a director and recommend to the board of directors a policy relating tothe remuneration of the directors key managerial personnel and other employees;

2) Formulation of criteria for evaluation of performance of independent directors andthe board of directors;

3) Devising a policy on diversity of board of directors;

4) Identifying persons who are qualified to become directors and who may be appointedin senior management in accordance with the criteria laid down and recommend to the boardof directors their appointment and removal.

5) Whether to extend or continue the term of appointment of the independent directoron the basis of the report of performance evaluation of independent directors.

C. Remuneration Policy:

Subject to the approval of the Board of Directors and subsequent approval by themembers at the General Meeting and such authorities as the case may be remuneration ofExecutive Directors and Key managerial persons is fixed by the Nomination and RemunerationCommittee. The remuneration is decided by the Nomination and Remuneration Committee takinginto consideration various factors such as qualifications experience expertiseprevailing remuneration in the competitive industries and financial position of theCompany etc. The policy is available on the website of the company

http://maxalert.in/Policies/Nomination%20and%20Remuneration%20Policy.pdf

STAKEHOLDERS RELATIONSHIP COMMITTEE:

A. Composition and attendance:

The Stakeholder Relationship Committee comprises of Two Non-executive and One Executivedirector as on 31st March 2020 i.e. Mr. Anirudh Shrikrishna Sadhale(Chairman) Mr. Valiyakath Adimakungu Noushad and Mr. Josephluis Joseluis Dsouzarespectively. The committee has met one (1) time during the financial year ended 31stMarch 2020 i.e. on 14th November 2019.

Name of the Member Position Category Meeting attendance
Mr. Anirudh Shrikrishna Sadhale Chairman Non-Executive & Independent Director 1
Mr. Valiyakath Adimakungu Noushad Member Non-Executive & Independent Director 1
*Mr. Josephluis Joseluis Dsouza Member Executive Director & Non-Independent Director 1
*Mr. Santhosh Kunjuraman Balachandran (DIN: 0

141534) ceased to be the Whole Time Director of

the company w.e.f 23rd April 2019 and in place of Mr. Mr. Santhosh KunjuramanBalachandran Mr.Joseph Joselius Dsouza was appointed as Member of the Committee.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 a separate exercise was carried out toevaluate the performance of Individual Directors including the Chairman of the Board whowere evaluated on parameters such as level of engagement and contribution and independenceof judgment thereby safeguarding the interest of the Company. The performance evaluationof the Independent Directors was carried out by the entire Board. The performanceevaluation of the Chairman and NonIndependent Directors were carried out by theIndependent Directors in their meeting held on 18th October 2019. The Boardalso carried out annual performance evaluation of the working of its Audit Nomination andRemuneration Stakeholders Relationship Committees. Board of Directors expressed theirsatisfaction with the evaluation process.

POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION AND OTHER DETAILS

Subject to the approval of the Board of Directors and subsequent approval by themembers at the General Meeting and such authorities as the case may be remuneration ofWhole Time Director is fixed by the Nomination and Remuneration Committee. Theremuneration is decided by the Nomination and Remuneration Committee taking intoconsideration various factors such as qualifications experience expertise prevailingremuneration in the competitive industries financial position of the company etc. Duringthe previous year Mr. Josephluis Joseluis Dsouza andran was paid remuneration within thelimit approved by the shareholders of the company.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The details in respect of internal financial control and their adequacy are included inManagement Discussion and Analysis Report which forms part of this Report.

DISCLOSURE OF REMUNERATION OF EMPLOYEES COVERED UNDER RULE 5 OF THE COMPANIES(APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES 2014:-

The information required under Section 197 of the Act read with rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are givenbelow:

i. The ratio of the Remuneration of each Director to the median Remuneration of theemployees of the Company for the financial year:

Executive Directors Ratio to median Remuneration
Mr. Josephluis Joseluis Dsouza 1.79

ii. The percentage increase in Remuneration of each Director Chief Executive OfficerChief Financial Officer Company Secretary in the financial year:

Directors Chief Executive Officer Chief Financial Officer and Company Secretary % increase in remuneration in the financial year
Mr. Tayappa Marenna Koli Chief Financial Officer 2.71%
CS Divya Vijay Company Secretary 1.63%

iii. The percentage increase in the median Remuneration of employees in the financialyear: N.A.

iv. The number of Permanent Employees on rolls of the Company: 37

v. Average percentile increase already made in the salaries of employees other than themanagerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration: NotApplicable.

vi. Affirmation that the remuneration is as per the remuneration policy of the Company:

The Company affirms that the remuneration is as per the remuneration policy of theCompany.

No employee of the company is falling under Rule 5(2) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014.

DISCLOSURE REQUIREMENTS

Management Discussion and Analysis are attached herewith which forms part of thisreport.

Policy on dealing with related party transactions is available on the website of thecompany www.maxalert.in

The Company has adopted a Whistle Blower Policy and has established the necessary vigilmechanism for directors and employees to report concerns about unethical behavior. Noperson has been denied access to the Chairman of the audit committee.

The company has adopted a policy on Determination of ‘Materiality for Disclosures'as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 and Policy for ‘Preservation of Documents' as per Regulation 9 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Both of theabove policies are available on the website of the companywww.maxalert.in

SUBSIDIARIES

The Company does not have Subsidiary Company.

CONSOLIDATED ACCOUNTS

Since the company does not have Subsidiary company here is no requirement to preparethe Consolidated Financial Statement as per section 129(3) of the Companies Act 2013.

CASH FLOW STATEMENT

In conformity with the provisions of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 and requirements of Companies Act 2013 the Cash flowStatement for the financial year ended 31.03.2020 is annexed here to as a part of theFinancial Statements.

STATUTORY AUDITORS

The Company in its 13thAnnual General Meeting (AGM) held on 30/09/2016appointed M/s. Agarwal Desai & Shah (Firm Registration No. 124850W) CharteredAccountants as its Statutory Auditors to hold office for the period of five consecutiveyears from the conclusion of the 13th Annual General Meeting until the conclusion of the18th Annual General Meeting.

AUDITORS' REPORT

i) Statutory Auditors:

Statutory Auditor's Report is Self-Explanatory in itself.

ii) Secretarial Auditor:

Company has delayed in some of the compliance during the year. However Management ofthe Company ensures to be more careful and dedicated in all of the compliances henceforth.

iii) Internal Auditor:

Internal Auditor of the company performed the duties of Internal Auditor of the companyfor the Financial Year 2019-2020 and his report is reviewed by Audit Committee from timeto time.

CORPORATE SOCIAL RESPONSIBILITY

As per the provisions of Section 135 of the Companies Act 2013 read with rules framedthere under every company including its holding or subsidiary and a foreign companywhich fulfills the criteria specified in sub-section (1) of section 135 of the Act shallcomply with the provisions of Section 135 of the Act and its rules.

Since the Company is not falling under any criteria specified in sub-section (1) ofsection 135 of the Act your Company is not required to constitute a Corporate SocialResponsibility Committee.

VIGIL MECHANISM

The Company has adopted a "Whistle Blower" Policy and has established thenecessary vigil mechanism for employees and directors to report concerns about unethicalbehavior as per the provisions regarding vigil mechanism as provided in Section 177(9) ofthe Companies Act 2013 read with rules framed there under. The "Whistle Blower"Policy is available on website of the companyhttp://maxalert.in/Policies/Whistle%20Blower%20Policy.pdf

RISK MANAGEMENT POLICY/PLAN

The company has been addressing various risks impacting the company reviewing the riskmanagement plan and ensuring its effectiveness. The Audit Committee has additionaloversight in the area of financial risks and controls. Major risks identified by thebusinesses and functions are systematically addressed through mitigating actions on acontinuing basis. The development and implementation of risk management policy/plan hasbeen covered in the Management Discussion and Analysis report.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIESACT 2013

The details of loans guarantees and investments as covered under the provisions ofSection 186 of the Companies Act 2013 are given in the notes to Financial Statements.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH THE RELATED PARTIES

The contracts or arrangement entered into by the company with related parties referredto in Sub-section (1) of section 188 of the Companies Act 2013 form a part of Form No.AOC-2 in Annexure-2 of this report.

The Board of Directors of the Company have on the recommendation of the AuditCommittee adopted a policy to regulate transactions between the Company and its RelatedParties in compliance with the applicable provisions of the Companies Act 2013 the Rulesthere under and the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015. This Policy was considered and approved by the Board and has been uploaded on thewebsite of the Company athttp://maxalert.in/Policies/Related%20Partv%20Transaction%20Policv.pdf

CHANGE IN THE NATURE OF BUSINESS

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

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICHHAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIALSTATEMENTS RELATE AND THE DATE OF THE REPORT

No material changes and commitments affecting the financial position of the companyhave occurred between the end of the financial year of the company to which the financialstatements relate and the date of this report.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATION IN FUTURE

No significant and material orders were passed by the regulators or courts or tribunalswhich affect the going concern status and future operation of the Company.

HUMAN RESOURCE DEVELOPMENT

To ensure good human resources management your company focuses on all aspects of theemployee lifecycle. This provides a holistic experience for the employees as well. Duringtheir tenure at the Company employees are motivated through various skill-developmentengagement and volunteering programs. All the while we create effective dialogs throughour communication channels to ensure that the feedback reach the relevant teams includingthe leadership. The company takes pride in the commitment competence and dedication shownby its employees in all areas of business.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

In accordance with the provisions of Section 134 read with the Companies (Accounts)Rules 2014 regarding conservation of energy technology absorption and foreign exchangeearnings and outgo your Directors furnish hereunder the additional information asrequired.

A. Conservation of Energy

Information in accordance with the provisions of Section 134 (3) (m) read with theCompanies (Accounts) Rules 2014 regarding conservation of energy does not apply to yourCompany.

B. Technology Absorption

Your Company has no foreign collaboration hence no particulars are offered.

C. Foreign Exchange Earning and Outgo

As required under Section 134(3) (m) of the Companies Act 2013 read with Companies(Accounts) Rules 2014 the information relating to the foreign exchange earnings andoutgo are given in the Notes to the financial statements as well as hereunder for the yearended 31stMarch 2020:

Expenditure in Foreign Currency : NIL

Foreign Exchange Earnings during the year: NIL

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirements of Section 134(5) of the Companies Act 2013 it is herebyconfirmed:

a) that in the preparation of the annual accounts the applicable accounting standardshave been followed along with proper explanation relating to material departures;

b) that the Directors had selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and the profit or loss of the Company for the period ended 31.03.2020;

c) that the Directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the company and for preventing and detecting any fraud andother irregularities;

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

e) that the Directors have laid down internal financial controls to be followed by thecompany and such internal financial controls are adequate and were operating effectively;and

f) that the Directors had devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION& REDRESSAL) ACT 2013

There was no case filed during the year under the Sexual Harassment of Women atWorkplace (Prevention Prohibition &Redressal) Act 2013. Further the Company ensuresthat there is a healthy and safe atmosphere for every women employee at the workplace andhave made necessary policies for safe and secure environment for women employees. TheCompany has in place an Anti-Sexual Harassment Policy in line with the requirements of TheSexual Harassment of Women at Work Place (Prevention Prohibition and Redressal) Act2013. An Internal Complaints Committee has been set up to redress complaints receivedregarding sexual harassment. The Company affirms that during the Year under review nocomplaints were received by the Committee for redressal.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS.

There were no cases of fraud reported by the auditors to the Board of Directors undersub-section (12) of section 143 of the Companies Act 2013 and amendments thereto.

DISCLOSURE OF MAINTENANCE OF COST RECORDS

Maintenance of Cost records as specified by the Central Government under sub-section(1)of section 148 of the Companies Act 2013 is not applicable to the Company.

ENVIRONMENT PROTECTION AND POLLUTION CONTROL

The Company has always been socially conscious corporate and has always carriedforward all its operations and procedures for environment friendly norms with allnecessary clearances.

Compliance with Secretarial Standards

The Company has complied with Secretarial Standards issued by the Institute of CompanySecretaries of India on Board Meetings and General Meetings.As required in terms ofSecretarial Standard (SS)-4 it is hereby confirmed that there is no corporate insolvencyresolution process initiated under the Insolvency and Bankruptcy Code 2016.

POSTAL BALLOT

During the year no postal ballots were held.

LEGAL

Pursuant to the provisions of Circular no. CIR/CFD/CMD/12/2015 dated November 30 2015issued by Securities and Exchange Board of India (SEBI) with respect to Standard OperatingProcedure (SOP) for suspension and revocation of equity shares of listed entities fornon-compliance with provisions of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 your company was suspended w.e.f. February 27 2017. Your company hadsubsequently applied to BSE Ltd. (Stock Exchange) for the revocation of suspensionfollowing which the suspension in trading of equity shares of the company was revokedw.e.f. January 30 2019.

EXTRACT OF ANNUAL RETURN

As per section 23 of the Companies(Amendment) Act 2017 extract of the Annual Return inForm MGT-9 is annexed herewith as Annexure-1 as well as available on the website of theCompany at http://maxalert.in/

ACKNOWLEDGEMENT

Your Directors' wishes to place on record its sincere thanks to all its CustomersSuppliers Bankers and Central & State Government Authorities for extending support toyour Company. The Board also places

on record its sincere appreciation of the contribution made by all the stakeholders forplacing their faith and trust on the Board.

By Order of the Board of Directors For Max Alert Systems Limited

Date: 31.08.20 Place: Mumbai SD/- SD/-
Josephluis J. Dsouza Valiyakath A Noushad
Managing Director Director
(DIN: 01186915) (DIN: 05199442)

.