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Sharp India Ltd.

BSE: 523449 Sector: Consumer
NSE: KALYANISHP ISIN Code: INE207B01011
BSE 00:00 | 12 Aug 53.50 1.80
(3.48%)
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51.70

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53.65

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NSE 05:30 | 01 Jan Sharp India Ltd
OPEN 51.70
PREVIOUS CLOSE 51.70
VOLUME 2710
52-Week high 84.40
52-Week low 27.65
P/E
Mkt Cap.(Rs cr) 139
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 51.70
CLOSE 51.70
VOLUME 2710
52-Week high 84.40
52-Week low 27.65
P/E
Mkt Cap.(Rs cr) 139
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sharp India Ltd. (KALYANISHP) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting their Thirty Sixth Reports together with theAudited Financial Statement of Accounts for the year ended on March 31 2021.

1. FINANCIAL RESULTS Rs. In Lacs
Year ended March 31 2021 Year ended March 31 2020
INCOME
Revenue from operations - 2.15
Other Income 11.32 57.43
Total Income 11.32 59.58
EXPENDITURE
Employee Benefit expenses 592.09 628.46
Depreciation and amortization expenses 380.79 153.01
Financial expenses 525.82 391.80
Total Expenses 1861.19 1457.79
PROFIT/(LOSS) BEFORE TAX (1849.87) (1398.21)
PROVISION FOR TAX 0.00 0.00
NET PROFIT /(LOSS) FOR THE YEAR (1849.87) (1398.21)
PROFIT AND LOSS ACCOUNT
beginning of the year (8048.45) (6650.24)
PROFIT AND LOSS ACCOUNT
end of the year (9898.32) (8048.45)

2. PERFROMANCE & OPERATIONS:

Gross Revenue from operations during the year under review was Rs. 11.32 Lacs. The netloss of the company for the fiscal year 2020- 2021 is Rs. 1849.87 Lacs. There was noproduction of LED TVs since April 2015 (Except in the month of August 2015) and of Airconditioners since June 2015 in the absence of any orders. During the period under reviewthere was no change in the nature of business carried on by Company.

GLOBAL HEALTH PANDEMIC FROM CORONAVIRUS

(COVID-19)

The COVID 19 pandemic has caused a deep impact on Indian business and has affectedunprecedented downstream in economic activities. It has emerged a global challenge andcreated disruption across the world. The Global solutions are needed to overcome thesechallenges. To enforce social distancing and to contain the spread of disease theemployees were ever possible are asked to work from home. Our office is now operating atminimal after following safety and sanitization guideline prescribed by governmentauthorities. The physical and emotional wellbeing of employees continues to be priorityduring the pandemic.

As the Company does not have manufacturing activities during the year there was nomuch significant impact caused due to COVID 19. However considering the uncertaintiesduring first waive and second waive of COVID 19 and its future impact on global economyit has impacted the subsequent events in terms of course of action for revival of Company.

3. MANAGEMENT DISCUSSION ANALYSIS AND CORPORATE GOVERNANCE:

The Management Discussion Analysis and the report on Corporate Governance are attachedto the Directors' Report and form part of this Annual Report. The Company is committed toachieving and adhering to the highest standards of Corporate governance and it constantlybenchmark itself with best practices in this regards. A report on corporate governance forfinancial year 2020-21 along with a certificate issued by the Company Secretary in wholetime practice confirming compliance with the mandatory requirements as stipulated inchapter IV of the listing regulations forms part of this report.

4. INDUSTRIAL RELATIONS:

Industrial Relations have been and continue to be harmonious and cordial

5. AUDITORS: i) Statutory Auditors:

The Board of Directors based on the recommendations of the Audit Committee in themeeting held on 9th August 2017 has appointed M/s Price Waterhouse Chartered AccountantsLLP as the Statutory Auditors of the Company for a period of five years from theconclusion of 32nd annual general meeting till the conclusion of 37th annual generalmeeting of the Company. The provision for ratification of appointment of statutoryauditors was omitted under the Companies amendment Act 2017 notified on 7th May 2018.Accordingly resolution for ratificationof appointment of Statutory Auditors at the ensuingAnnual General Meeting is not required.

ii) Cost Auditors:

The Board of Directors has appointed M/s. C.S. Adawadkar & Co Practicing CostAccountant as the Cost Auditor for the financial year ended on 31st March 2021 uponrecommendation of the Audit Committee .M/s. C.S. Adawadkar & Co Cost Accountant willsubmit the cost audit report along with annexure to the Central Government (Ministry ofCorporate Affairs) in the prescribed form within specified time and at the same timeforward a copy of such report to your company.

The Board of Directors has appointed M/s. C.S. Adawadkar & Co. Practicing CostAccountant to conduct the Cost Audit staff of the Company for the financial year endingon 31st March 2022 upon recommendation of the Audit Committee. The remuneration payableto the Cost Auditors for the financial year 2021-2022 requires ratification by the membersof the Company. The same is put up before the members of the company for theirconsideration and approval.

Cost Records

As per section 148 of Companies Act 2013 read with the Companies (Cost Records andAudit) Rules 2014 your company is required to maintain cost records and accordingly suchaccounts and records are maintained.

iii) 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 Board of Directorsof the Company appointed M/s. SVD & Associates Practicing Company Secretaries as the‘Secretarial Auditors' of the company for the financial year 2020-2021. TheSecretarial Audit Report given by M/s. SVD & Associates Practicing CompanySecretaries for the financial year 2020-2021 is annexed as Annexure - B. As perSEBI circular no. CIR/CFD/CMD/1/27/2019 dated February 8 2019 the Company has submittedthe Annual Secretarial Compliance Report issued by M/s. SVD & Associates PracticingCompany Secretaries with the BSE Limited where shares of the Company are listed. It isalso available on the website of the Company www.sharpindialimited.com.

6. ANNUAL RETURN

Pursuant to Section 92(3) and Section 134(3) (a) of the Companies Act 2013 read withRule 12 (1) of the Companies (Management and Administration) Rules 2014 the AnnualReturn is available on the website of the company www.sharpindialimited.com.

7. CORPORATE GOVERNANCE

In terms of regulation 34 of SEBI (Listing Obligations & Disclosure Requirements)Regulation 2015 the report on Corporate Governance along with the Certificate ofCompliance forms part of this report.

8. NUMBER OF MEETINGS OF THE BOARD

During the year under review Five Board Meetings were convened on 26th June 2020 11thAugust 2020 2nd October 2020 10th November 2020 and 10th February 2021. The time gapbetween two consecutive meetings did not exceed One hundred and Twenty days except forBoard Meeting held on 26th June 2020. As necessary measures due to COVID 19 threats theMinistry of Corporate affairs vide its general circular no 11/2020 dated 24th March 2020have extended the gap for Board meeting from 120 days to 180 days. The details of whichare given in the Corporate Governance Report.

9. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirements of Section 134(3) (c) and 134 (5) of the Companies Act2013 in respect of Directors' Responsibility Statement it is hereby confirmed that:

a) In the preparation of the annual accounts for the financial year ended on 31st March2021 the applicable accounting standards have been followed and that there are nomaterial departures;

b) the Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe loss of the Company for that period;

c) the Directors have taken proper and maintenance of adequate accounting records inaccordance with the provisions of the Companies Act 2013 for safeguarding the assets ofthe Company and for preventing and detecting fraud and other irregularities;

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

e) the Directors have laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively;

f) the Directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating effectively.

10. A STATEMENT ON DECLARATION GIVEN BY INDEPENDENT

DIRECTORS:

All Independent Directors have given declarations that they meet the criteria ofindependence as laid down under Section 149(6) of the Companies Act 2013 and Regulation16(b) of the SEBI

(Listing Obligations & Disclosure Requirements) Regulations 2015. In the opinionof the Board there has been no change in the circumstances which may affect their statusas Directors of the Company and the Board is satisfied integrity expertise andexperience of all Independent Directors on the Board.

11. COMPANY'S POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION INCLUDING CRITERIA FORDETERMINING QUALIFICATIONS POSITIVE ATTRIBUTES AND INDEPENDENCE OF A DIRECTOR:

The Board had on the recommendation of the Nomination and Remuneration Committee frameda policy for selection and appointment of Directors Key Managerial Personnel and SeniorManagement Personnel and their remuneration. The policy is appended as ‘Annexure -A' to this Report.

Criteria for Determining Qualifications Positive Attributes &

Independence of Director (Evaluation Criteria): i. Qualifications of Director:

A director shall possess appropriate skills experience and knowledge in one or morefields of engineering finance law management sales marketing administrationresearch corporate governance operations or other disciplines related to the Company'sbusiness.

ii. Positive attributes of Directors:

A director shall be a person of integrity who possesses relevant expertise andexperience and who shall uphold ethical standards of integrity and probity; actobjectively and constructively; exercise his responsibilities in a bona-manner in theinterest of the Company; devote time and attention to his professional obligations forinformed and balanced decision making; and assist the Company in implementing the bestcorporate governance practices.

iii. Independence of Independent Directors:

An Independent director should meet the requirements of the Companies Act 2013 andSEBI Listing Regulations 2015 concerning independence of directors.

12. EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QULIFICATION RESERVATION OR ADVERSEREMARKS OR DISCLAIMER MADE (1) BY THE AUDITOR IN HIS REPORT (2) BY THE COMPANY SECRETARYIN PRACTICE IN HIS SECRETARIAL AUDIT REPORT:

Statutory Auditors qualification/commentson Company's financial statement

We draw your attention to Note 33 regarding the preparation of financial statementsusing the going concern assumption. The Company has ceased business operations during thefinancial year ended March 31 2016 and has incurred losses during the year aggregating toRs. 1849.87 Lakhs. The accumulated losses of the Company aggregate to Rs. 9898.32 lakhsas at March 31 2021. While the holding company has provided a support letter to theCompany the plans for the revival of business operations and the consequent impact on thegoing concern assumption are not ascertainable at this stage.

Management response to statutory Auditors qualification/ comment on the Company'sfinancial statement.

During the year ended 31st March 2021 the Company incurred a loss of Rs. 1849.87Lakhs and the accumulated loss as at 31st March 2021 is Rs. 9898.32 Lakhs. There was noproduction of LED TVs from April 2015 (except in August 2015) and of Air Conditionerssince June 2015 in the absence of any orders. The Company continues to receive financialand operational support from Sharp Corporation Japan the majority shareholder andholding company. As at 31st March 2021 the Company has received a support letter fromSharp Corporation Japan for financial and operational support until 31st March 2022.Sharp Corporation Japan is a group company of Hon Hai/Foxconn Group one of the world'slargest contract electronics manufacturer.

Based on this continued support from the holding company and the fact that the Companyhas entered into

(i) Basic Services Agreement between Sharp Corporation and Sharp India Limited dated3rd June 2021;

(ii) Service Agreement between Sharp Business Systems (India) Private Limited and SharpIndia Limited dated 1st June 2021; and

(iii) the Individual Contract for Services

No. 1 between Sharp Business Systems (India) Private Limited and Sharp India Limiteddated 1st June 2021 for the revival of business operations the management is of theopinion that the Company will be able to continue as a going concern. fide Further themanagement based on prima facie assessment is of sufficient the opinion that the valuesof the assets and liabilities disclosed in the financial statements are close to theirfair value and no material impact would possibly be there on financial statements ifactual exercise of fair valuation is undertaken.

In accordance with the BASIC SERVICE AGREEMENT executed between Sharp Corporation (SC)and the Company on 3rd June 2021 SC intend to expand the business scope of SmartAppliances & Solutions Business Unit in India and expect the Company to provide andthe Company is willing to provide activities and services relating to the followingactivities.

(1) to support to conduct a factory audit for any applicable products

(2) to conduct a survey of local dealers service providers and users in India

(3) to analyze the competitive products and the cost thereof and report suchresult

(4) to manufacture and provide the preproduction prototype of the new products

(5) to support the mass-production of the new products

(6) other activities and services to cooperate business development of Smart Appliances& Solutions Business Unit of SC separately agreed upon by the Parties Howevertaking into consideration the current Covid 19 pandemic situation and the uncertaintysurrounding it in India and Japan the revival of the operations of the Company may takelonger than anticipated earlier.

13. OBSERVATION IN SECRETARIAL AUDIT REPORT.

Pursuant to regulation 17 (1) (c) of SEBI (Listing Obligation and Disclosurerequirement) Regulation 2015 w.e.f 01st April 2020 Company being under top 2000companies based on market capitalization was required to have minimum 6 (six) Directors .However Company had 4 (Four) Directors on its Board. Due to COVID 19 pandemic situationand lockdown since March 2020 and further restriction imposed by Government and localauthorities it was difficult for appointment of two additional Directors on the Board ofCompany. The Company has complied the said regulation w.e.f 02nd October 2020. Accordinglythe penalty of Rs 920000 for the period from 1st April 2020 to 1st October 2020 wasimposed by BSE Ltd on the Company. The Company has duly paid penalty with in prescribedtime. Further Company filed application for waiver of the penalty and many representationswere filed thereafter. Accordingly based on the representations the BSE Ltd waiverCommittee waived the penalty for June 2020 and September 2020 quarters of Rs915000.

14. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

UNDER SECTION 186 OF THE COMPANIES ACT 2013:

The Company has not given any loans guarantees or has not made any investments duringthe financial year 2020-2021 under review.

15. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

During the Financial year the Company has entered into contracts or arrangements withthe related parties in the ordinary course of business and on arm's length basis. Priorapproval of the Audit Committee was obtained for all the related party transactionsentered into by the Company for the financial year ended on 31st March 2021. A statementgiving details of all related party transactions entered pursuant to the approval sogranted is placed before the Audit Committee for their review on quarterly basis. Thepolicy on related party transactions as approved by the Board of Directors has beendisplayed on the website of the Company: www.sharpindialimited.com. During the periodunder review no related party transaction was entered by the company which attract theprovisions of section 188 of Companies Act 2013. There were no material individualtransactions with related parties accordingly AOC-2 is not applicable to Company. Therelated party transaction under Regulation 23 of the Securities and Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations 2015 for thefinancial year 2021-22 are put up for approval of members

16. THE STATE OF THE AFFAIRS OF THE COMPANY: State of Company's affairs has beencovered as a part of this report under the financial results & Management Discussionand Analysis.(MDA).

17. THE AMOUNT IF ANY WHICH IT PROPOSES TO CARRY TO

ANY RESERVES: Nil.

18. THE AMOUNT IF ANY WHICH IT RECEOMMENDS SHOULD BE PAID BY WAY OF DIVIDEND: NIL

19. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICHTHE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT: NIL

20. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION

AND FOREIGN EXCHANGE EARNINGS AND OUTGO etc.: Conservation of Energy & TechnologyAbsorption etc:

In line with the company's policy towards conservation of energy initiatives areplanned and implemented across the company and all units continue with their efforts aimedat improving energy efficiency and optimize consumption. Your company continues with itsefforts aimed at improving efficiency by adopting the energy various measures to conservethe energy and places very much importance for the conservation of energy and is consciousabout its responsibility to conserve energy power and other energy sources. The Companyis conscious about its responsibility towards environment protection and it lays greatemphasis towards a safe and clean environment and continues to adhere to all regulatoryrequirements and guidelines. Your company strongly and religiously follows and practicesthe 3E Policy i.e.

a) Eco-positive Product Products having less usage of resources and are safe for use.

b) Eco-positive Operation Reduce adverse impact on environment during Manufacturingprocesses.

c) Eco positive Relationship. Enhance corporate value during involvement ofEmployees Even though the nature of company's operations is not energy intensive in linewith the company's commitment towards conservation of energy all departments in thecompany continue with their efforts aimed at improving energy efficiency through improvedoperational and maintenance practices. The steps taken in this direction by your companyare as given below: Making constant efforts to reduce consumption of energy light oilwater & fuel in following ways:

(i)Reduction of energy consumption by turning off lights personal computers fans andother electronic equipments when not in use;

(ii)Timely maintenance and upgradation of machinery & equipments;

(iii)Plantation of trees in the factory

(v).Awareness programs towards optimum utilization of natural resources at managerialas well as employee level;

(v) Timely repairs & maintenance of water taps in the factory. Your companymanufactures the products under the Technical collaboration Agreement entered with SharpCorporation Japan. The technology provided by Sharp Corporation Japan is being absorbedand the company continues to utilize the same.

Expenditure on Research & Development :

Amount Rs. Lacs
Capital 0
Recurring 0
Total R&D Expenditure as a percentage of -
total sales turnover
Foreign Exchange Earnings and Out go:
Amount Rs. Lacs
Foreign Exchange outgo 16.21
Foreign Exchange earning 0

21. RISK MANAGEMENT POLICY:

The Company has in place a Risk Management Policy pursuant to section 134 of theCompanies Act 2013. Your company believes through various measures to reduce wastage thatmanaging and mitigating the risk maximizes the returns. The company has setup a RiskManagement Committee duly approved by the Board of Directors. Risk management comprises ofall the organizational rules and actions for early identification of risks in the courseof doing business and the management of such risks. The Committee identifies allstrategic operational & financial risks by analyzing and assessing the operations ofthe company. The company has laid down procedures for the risk reporting. The details ofrisks identified along with measures adopted to control the risks is placed before theBoard & Audit Committee quarterly for their evaluation & suggestions.

22. CORPORATE SOCIAL RESPONSIBILITY POLICY:

This policy is not applicable to the Company at present.

23. MANNER OF ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS COMMITTEESAND OF DIRECTORS:

As per the policy and criteria laid down by the Nomination & RemunerationCommittee provisions of the Companies Act 2013 & SEBI (Listing Obligations &Disclosure Requirements) Regulations 2015 the performance evaluation of the independentdirectors was carried out by the entire board excluding the Director being evaluated andthe performance of the non- independent directors was carried out by the independentdirectors who also reviewed the performance of the Board as a whole. The Board'sfunctioning was evaluated on various aspects including structure of the Board andqualifications experience of the directors being evaluated The evaluation of Committeeswas carried out by Board Members.

24. THE DETAILS OF DIRECTORS KEY MANAGERIAL PERSONNEL WHO WERE APPOINTED OR HAVERESIGNED DURING THE YEAR: a) Change in Directors during the year:

Mr. Naoki Hatayama resigned as Managing Director of Company with effect from 15thNovember 2020 and re-designated as Non-Executive Director of Company. Mr. MasahikoNakagawasai was appointed as additional Director w.e.f 02nd October 2020 andthereafter designated as Managing Director of Company w.e.f 16th November 2020. Mr.Masahiko Nakagawasai being non- resident the application for approval of CentralGovernment is filed in form MR 2 on 13th January 2021 for the period of term of three yearfrom 16th November 2020 to 15th November 2023. The office of Mr. Masahiko Director bypostal ballot on 31st December 2020. Mr. Yoshihiro Hashimoto was appointed as nonexecutive Additional Director of Company w.e.f 02nd October 2020 and his office wasregularized as Director by postal ballot on 31st December 2020.

Mr. Abhijeet Bhagwat was appointed as Non- Executive Independent Director of Companyw.e.f 2nd October 2020 and his office was regularized as Director by postal ballot on 31stDecember 2020.

During the period Mr. Seiji Hayakawa has resigned as Non- Executive Director of Companyeffective from 02nd October 2020.

b) Director proposed to be re-appointed at the ensuing

Annual General Meeting:

In accordance with the provisions of Companies Act 2013 and the Articles ofAssociation of the Company Mr. Naoki Hatayama retire by rotation as Director of theCompany and being eligible he has offered himself for re-appointment. During the yearunder review the non-executive directors of the Company had no pecuniary relationship ortransactions with the Company other than sitting fees for the purpose of attendingmeetings of the Board/Committee of the Company.

25. THE NAMES OF THE COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIESJOINT VENTURE OR ASSOCIATE COMPANIES DURING THE YEAR:

There are no companies which have become/ceased to be subsidiaries joint ventures andassociate companies during the year.

26. DEPOSITS:

Your Company has not accepted any Fixed Deposits during the year under review.

27. SECRETARIAL STANDARDS

The Institute of Company Secretaries of India had revised the

. Secretarial Standards on Meetings of the Board of Directors (SS-1) andSecretarial Standards on General Meetings (SS-2) with effect from 1st October 2017. TheCompany is in compliance with the revised secretarial standards.

28. SIGNIFICANT AND MATERIAL ORDERS:

During the period no significant material orders have been d by the Regulators orCourts or Tribunals which would impact the going concern status of the Company and itsfuture operations.

29. REPORTING OF FRAUDS BY AUDITORS

During the reporting year neither the statutory auditors nor the secretarial auditorhas reported to the audit committee under Section 143 (12) of the Companies Act 2013any instances of fraud committed againsttheCompanybyitsofficersoremployees the details ofwhich would need to be mentioned in the Board's report.

30. INTERNAL FINANCIAL CONTROLS:

Nakagawasai was regularized as

Company has appropriate and adequate internal financial control systems in placeconsidering the nature and size of the business. These are regularly tested by Internaland statutory Auditors of the company. The Internal Audit observations & thecorrective/ follow-up actions are reported to the Audit Committee. The qualification givenby the auditors is a case of judgment and in our opinion does not affect the internalfinancial controls system by the Company. Further it does not have any material impact onthe financials of the company.

31. INFORMATION FORMING PART OF THE DIRECTORS REPORT

PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT 2013 AND RULE NO. 5 OF THE COMPANIES(APPOINTMENT

AND REMUNERATION OF MANAGERIAL PERSONNEL)

RULES 2014 :

The relevant information required to be given under section 197(12) of the CompaniesAct 2013 and Rule no. 5 of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 is annexed at 'Annexure - C' to this Report.

32. COMPOSITION OF THE COMMITTEES :

Composition of the Audit Committee and other relevant information has been given in thesection ‘Corporate Governance'. The compositions and other relevant information ofNomination & Remuneration Committee and Stake holders' relationship Committee has beengiven in the section Corporate Governance.

33. VIGIL MECHANISM /WHISTLE BLOWER POLICY:

The Company has adopted a Whistle Blower Policy to provide a formal vigil mechanism tothe directors and employees to report concerns about unethical behavior actual orsuspected fraud. The Policy provides for adequate safeguards against victimization ofemployees who avail of the mechanism and also provides for direct access to the Chairmanof the Audit Committee to report the concerns. During the year under review your companyhas not received any complaints under the said mechanism. This policy has been posted onthe website of the company- www. sharpindialimited.com

34. FAMILIARIAZATION PROGRAM OF INDEPENDENT DIRECTORS: Familiarization programs areconducted for the independent directors of the company to make them familiar with thecompany's policies operations business models etc. and the details about the same areavailable on the website of the Company www. sharpindialimited.com.

35. POLICY UNDER THE SEXUAL HARASSMENT OF WOMEN AT THE WORKPLACE (PREVENTIONPROHIBITION AND

REDRESSAL) ACT 2013:

Company has zero tolerance for sexual harassment at the workplace and in terms of theprovisions of the Sexual Harassment of Woman at Workplace (Prevention Prohibition andRedressal) Act 2013 the Company has formulated a policy to prevent sexual harassment ofwomen at the workplace. The policy aims to provide protection to the women employees atthe workplace and prevent and redress the complaints of sexual harassment at theworkplace. Internal compliant committee has been setup for redressal of complaintsreceived regarding sexual harassment. All employees are covered under the policy.Disclosure of cases/ status during the year under review Sexual Harassment of Woman atWorkplace (Prevention Prohibition and Redressal) Act 2013. a. Number of complaints filedduring the financial year : Nil b. Number of Complaints deposed of during financial year:Nil c. Number of Complaints pending as on end of the financial year: Nil.

36. ACKNOWLEDGEMENTS:

Your Directors express their gratitude for the valued and timely support and guidancereceived from Sharp Corporation Japan and also wish to place on record their appreciationfor the co-operation extended by the Bankers Financial Institutions and its valuedinvestors. The Board also acknowledges the untiring efforts and contribution made by thecompany's employees.

For and on behalf of the Board of Directors

Date: August 24 2021 Masahiko Nakagawasai Bhumika Batra
Place : Pune Managing Director Director
DIN: 05274985 DIN: 03502004

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