The Board of Directors hereby submits the 44^th Annual report of the business and operations of the Company
together with the audited financial statements for the financial year ended March 31^st, 2024.

> FINANCIAL PERFORMANCE OF THE COMPANY:

The summary of the financial performance of the Company for the year ended 31^st March, 2024 as compared to
the previous year is as below:

Amount in Lakh

> RESULT HIGHLIGHTS:

The bottom line has also shown Standalone Profit (after tax) for the year ended 31.03.2024 is Rs.119.19 Lakhs as
compared to Standalone profit of last year as on 31.03.2023 Rs. 56.28/-. The company has Consolidated profit for
the year ended 31.03.2024 Rs. 119.04/- Lakhs and previous year 31.03.2023 profit of Rs. 59.23/- Lakh Further,
there are no significant and material events impacting the going concern status and Company's operations in
future.

Financial comparative data for March 2023 & March 2024 are as follows:

The company has indeed shown significant improvement in its profitability and growth, as evidenced by the
substantial increase in both standalone and consolidated profits over the year.

• Standalone Profit: The profit rose from Rs. 56.28 lakhs in the financial year ending 31.03.2023 to Rs.
119.19 lakhs in the financial year ending 31.03.2024, reflecting a remarkable growth of over 111%.

• Consolidated Profit: Similarly, the consolidated profit increased from Rs. 59.23 lakhs in 2023 to Rs. 119.04
lakhs in 2024, nearly doubling from the previous year.

This impressive growth highlights the company's successful strategies and operational efficiency, reinforcing its
positive trajectory and strong financial health moving forward.

> DIVIDEND

During the year the company earned minimal profits hence the directors have not recommended any dividend.

> RESERVES

The Directors have not proposed to transfer any amount to Reserves during the year.

> BOARD OF DIRECTORS:

The Composition of the Board during the year was as per the provisions of Regulation 17 of Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the
Companies Act, 2013.

None of the Directors are disqualified for appointment/ re-appointment under Section 164 of the Act. As
required by law, this position is also reflected in the Auditors' Report.

As required under Regulation 36(3) of the Listing Regulations with the stock exchanges, the information on the
particulars of Directors proposed for appointment/re-appointment has been given in the notice of Annual
General Meeting.

> DECLARATION BY AN INDEPENDENT DIRECTORS) AND RE- APPOINTMENT

Mr. Kishor Anil Kokate, Mrs. Prajakta Anil Gangurde and Mrs. Khushboo Vasudev, Independent Directors of
the Company have confirmed that they fulfilled all the conditions of the Independent Directorship as laid down
in sub-section (6) of Section 149 of the Companies Act, 2013 and the rules made there under and the SEBI (LODR)
Regulations, 2015 and the same have been noted by the Board. All the Independent Directors are also registered
with the databank maintained by the IICA as per the requirement of the Companies Act, 2013.

> FORMAL ANNUAL EVALUATION:

The annual evaluation process for the Board of Directors, individual Directors, and Committees was conducted
in accordance with the provisions of the Companies Act and the Listing Regulations.

The Board carried out a comprehensive self-assessment, gathering input from all Directors. The evaluation
focused on criteria such as board composition and structure, the effectiveness of board processes, information
flow, and overall functioning.

Similarly, the performance of the Committees was assessed by the Board, taking into account feedback from
committee members. The evaluation considered aspects like committee composition and the effectiveness of
meetings. These criteria were largely based on the guidance note on Board Evaluation issued by the Securities
and Exchange Board of India (SEBI) on January 5, 2017.

The Chairman of the Board held one-on-one meetings with Independent Directors (IDs), while the Chairman of
the Nomination and Remuneration Committee (NRC) conducted individual meetings with the Executive
Directors. In a separate meeting of the IDs, the performance of Non-Independent Directors, the Board as a whole,
and the Chairman of the Company was evaluated, incorporating the perspectives of the Executive Director and
Non-Executive Directors (NEDs).

The NRC reviewed the performance of individual Directors based on criteria such as their contribution to Board
and committee meetings, preparedness on key issues, and the meaningful and constructive input they provided
during discussions. The performance of the Board as a whole was also assessed.

In the subsequent Board meeting, which followed the meetings of the IDs and the NRC, the overall performance
of the Board, its Committees, and individual Directors was discussed.

The evaluation process reinforced the Board's confidence in the Company's ethical standards, the cohesiveness
among Board members, the Board and management's adaptability in addressing various challenges, and the
openness of the management in sharing strategic information with the Board.

> CHANGE OF CAPITAL:

The Company has not issued shares with differential voting rights in the F.Y. 2023-2024. It has neither issued
employee stock option nor sweat equity shares as on March 31, 2024.

During the year the Paid-up Share Capital of the Company was increased due to Equity Convertible warrants
exercised by the warrant holder. The Paid up Share Capital of the Company was increase from Rs. 8,00,00,000/ -
(Rupees Eight Crores Only) divide into 1,60,00,000 (One Crore Sixty Lakh) Equity Shares of Face Value of Rs. 5/-
each to Rs. 12,00,00,000/- (Rupees Twelve Crores Only) divided into 2,40,00,000 (Two Crores Forty Lacs) Equity
Shares of Face Value of Rs. 5/- each by addition of Rs. 4,00,00,000 (Rupees Four Crore Eighty Lacs) divided in to
80,00,000 (Eighty Lacs) Equity Shares of Face Value of Rs. 5/- each.

UTILISATION OF THE PROCEEDS FROM PREFRENTIAL ISSUE OF EQUITY CONVERTIBLE
WARRANTS.

The utilizations of funds raised have been mentioned hereunder:

(Amount in Rs.)

Notes:

1. As on 01.04.2024 unutilized balance fund of Rs. 1,20,705 was available with company, and during the F.Y.
company has received Rs. 5,52,00,000 against conversion of 80,00,000 @ Rs. 6.90/- per equity warrants in to
Equity Shares, out of total receipt including opening balance of Rs. 5,53,20,705 the company has utilized Rs.
5,52,54,015 for the object of the issue, and balance Rs. 66,690/- is balance amount in the books of company and
carry forward to next FY.

There has been no deviation in the use of proceeds of the preferential Issue of warrant from the objects stated in
the letter of offer as per Regulation 32 of SEBI Listing Regulations. The Company has been disclosing on a
quarterly basis to the Audit Committee, the usage & application of proceeds of the funds raised from preferential
Issue and also intimate the Stock Exchange(s) on a quarterly basis, as applicable.

> POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION:

The policies of the Company on Directors' appointment and remuneration including criteria for determining
qualifications, positive attributes, independence of a Director and other matters provided under sub-section (3)
of Section 178 of the Act is available on the website on this link: www.mayukh.co.in

The policy of the Company on directors' appointment and remuneration, including criteria for determining
qualifications, positive attributes, independence of a director and other matters provided under sub-section (3)
of Section 178 of the Companies Act, 2013, adopted by the Board, are stated in this Board report. We affirm that
the remuneration paid to the directors is as per the terms laid out in the Nomination and Remuneration Policy
of the Company.

> TRAINING OF INDEPENDENT DIRECTORS:

Every new independent director of the Board attended an orientation program to familiarize the new inductees
with the strategy, operations and functions of our company, the executive directors / senior managerial
personnel make presentations to the inductees about the company's strategy, operations, product and service
offerings, markets, software delivery, organization structure, finance, human resources, technology, quality,
facilities and risk management.

The Company has organized the following workshops for the benefit of Directors and Independent Directors:

(a) a program on how to review, verify and study the financial reports;

(b) a program on Corporate Governance;

(c) provisions under the Companies Act, 2013; and

(d) SEBI Insider Trading Regulation, 2015.

Further, at the time of appointment of an independent director, the company issues a formal letter of
appointment outlining his/her role, functions, duties and responsibilities as a director.

> CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO

The details of Energy, Technology, Absorption, Foreign Exchange Earnings and Outgo are as under:
Conservation of Energy:

Since the company is not engaged in any manufacturing activity, issues relating to conservation of energy are
not quite relevant to its functioning.

Technology Absorption:

Since the company is not engaged in any manufacturing activity, issues relating to Technology Absorption are
not quite relevant to its functioning.

Foreign Exchange Earnings/Outgo:

Earnings NIL

Outgo NIL

> PARTICULARS OF LOAN, GUARANTEE AND INVESTMENTS UNDER SECTION 186

During the period under review, the loans, advance and guarantees if any, were provided by the Company
according to limit approved by the members of the company by passing a special resolution in the shareholders
meeting in compliance of the provisions of Section 186 of Companies Act, 2013.

> PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIESUNDER SECTION
188

The particulars of contracts or arrangements with related parties referred to in Section 188(1), as prescribed in
Form AOC - 2 are appended as Annexure - II.

> MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY

Save as mentioned elsewhere in this Report, no material changes and commitments affecting the financial
position of the Company has occurred between the ends of the financial year of the Company 31^st March, 2023
till the date of this report.

> STOCK SPLIT OF SHARES

No such case of Stock Split of Shares happens during the year 31^st March, 2024.

> RISK MANAGEMENT POLICY

The Board of Directors of the Company are of the view that currently no significant risk factors are present which
may threaten the existence of the company.

The Audit Committee and Board of Directors review these procedures periodically. The company's management
systems, organizational structures, processes, standards, code of conduct and behavior together form a complete
and effective Risk Management System (RMS).

> DIRECTORS

The Board & KMP of the Company during the financial year was as follows:

> BOARD EVALUATION

Reg. 17 of SEBI (LODR) Regulations, 2015 mandates that the Board shall monitor and review the Board evaluation
framework. The Companies Act, 2013 states that a formal annual evaluation needs to be made by the Board of
its own performance and that of its committees and individual directors.

Schedule IV of the Companies Act, 2013 states that the performance evaluation of independent directors shall be
done by the entire Board of Directors, excluding the director being evaluated. Pursuant to the provisions of
section 134(3) (p) of the Companies Act, 2013 the evaluation of all the directors and the Board as a whole was
conducted based on the criteria and framework adopted by the Board. The evaluation process has been explained
in the corporate governance report section in this Annual Report. The Board approved the evaluation results as
collated by the nomination and remuneration committee.

> NUMBER OF MEETINGS OF THE BOARD

The Board of Directors duly meeting 07 (Seven) times respectively on 22/05/2023, 10/08/2023, 29/08/2023,
11/10/2023, 11/11/2023, 19/01/2024, 27/03/2024 in respect of which proper Notices were given and the
proceedings were properly recorded and signed in the Minutes Book maintained for the purpose.

Preferential Allotment Committee Meetings held during the year:

Preferential allotment committee Meeting 10/04/2023, 22/05/2023, 09/06/2023, 18/08/2023, 23/08/2023,
13/10/2023, 31/10/2023, 28/11/2023, 05/12/2023, 14/12/2023, 19/01/2024, 27/01/2024.

The intervening gap between any two meetings was within the period prescribed by the Companies Act, 2013.

> MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN MADE BY THE BOARD OF ITS
OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

The annual evaluation process of the Board of Directors, individual Directors and Committees was conducted in
accordance with the provisions of the Act and the Listing Regulations.

The Board evaluated its performance after seeking inputs from all the directors based on criteria such as the
board composition and structure, effectiveness of board processes, information and functioning, etc.

The performance of the Committees was evaluated by the Board after seeking inputs from the committee
members based on criteria such as the composition of committees, effectiveness of committee meetings, etc.

The above criteria are broadly based on the Guidance note on Board Evaluation issued by the Securities and
Exchange Board of India on January 5, 2017.

The Chairman of the Board had one-on-one meetings with the IDs and the Chairman of the NRC had one-on-
one meetings with the Executive and Non-Executive, Non-Independent Directors.

In a separate meeting of IDs, performance of Non-Independent Directors, the Board as a whole and the Chairman
of the Company was evaluated, taking into account the views of the Executive Director and NEDs.

The NRC reviewed the performance of individual directors on the basis of criteria such as the contribution of the
individual director to the Board and committee meetings like preparedness on the issues to be discussed,
meaningful and constructive contribution and inputs in meetings, etc. and the Board as a whole.

In the Board meeting that followed the meeting of the IDs and meeting of the NRC, the performance of the Board,
its committees and individual Directors was also discussed.

The evaluation process endorsed the Board's confidence in the ethics standards of the Company, cohesiveness
amongst the Board members, flexibility of the Board and management in navigating the various challenges faced
from time to time and openness of the management in sharing strategic information with the Board.

> CHANGES IN DIRECTORS AND KEY MANAGERIAL PERS ONNEL

During the year under review, there is following changes took place in Board of Directors and KMP of the
Company:

> POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION

The current policy is to have an appropriate mix of executive and non-executive, independent directors to
maintain the independence of the Board and separate its functions of governance and management.

The policy of the Company on directors' appointment and remuneration, including criteria for determining
qualifications, positive attributes, independence of a director and other matters provided under Subsection (3)
of Section 178 of the Companies Act, 2013, adopted by the Board, are stated in this Board report. We affirm that
the remuneration paid to the directors is as per the terms laid out in the nomination and remuneration policy of
the Company.

> TRAINING OF INDEPENDENT DIRECTORS

Every new independent director of the Board attended an orientation program. To familiarize the new inductees
with the strategy, operations and functions of our Company, the executive directors / senior managerial
personnel make presentations to the inductees about the Company's strategy, operations, product and service
offerings, markets, software delivery, organization structure, finance, human resources, technology, quality,
facilities and risk management.

The Company has organized the following workshops for the benefit of Directors and Independent Directors:

A program on how to review, verify and study the financial reports;

A program on Corporate Governance;

Provisions under the Companies Act, 2013; and
SEBI Insider Trading Regulation, 2015.

Further, at the time of appointment of an independent director, the Company issues a formal letter of
appointment outlining his/her role, functions, duties and responsibilities as a director.

> COMMITTEES OF THE B OARD

Currently, the Board has three committees:

1. Audit Committee,

2. Nomination and Remuneration Committee,

3. Stake Holders Relationship Committee.

A detailed note on the Board and its committees is provided under the corporate governance report section in
this Annual Report.

> DECLARATION BY INDEPENDENT DIRECTORS

Mrs. Prajakta Anil Gangurde, Mr. Kishor Anil Kokate and Ms. Khushboo Vasudev, Independent Directors of the
Company have confirmed that they fulfilled all the conditions of the Independent Directorship as laid down in
sub- section (6) of Section 149 of the Companies Act, 2013 and the rules made there under and the same have
been noted by the Board Conservation of energy, Technology absorption and Foreign exchange earnings and
Outgo.

The provisions of section 134(m) of the Companies Act 2013 regarding the disclosure of particulars of
conservation of energy and technology absorption prescribed by the rules are not applicable to our company.
The company does not have any Foreign Exchange transactions during the financial year.

> INDEPENDENT DIRECTORS DECLARATIONS:

In the opinion of the Board, the independent directors are, individually, person of integrity and possess relevant
expertise and experience.

The Independent Directors under section 149(6) of the Companies Act, 2013 declared that:

1. They are not a promoter of the Company or its holding, subsidiary or associate company;

2. They are the directors in the company;

3. The independent Directors have/had no pecuniary relationship with company, its holding, subsidiary
or associate company, or their promoters, or directors, during the two immediately preceding financial
years or during the current financial year;

4. None of the relatives of the Independent Directors have or had pecuniary relationship or transaction
with the company, its holding, subsidiary or associate company, or their promoters, or directors,
amounting to two percent. or more of its gross turnover or total income or Fifty Lakhs rupees or such
higher amount as may be prescribed, whichever is lower, during the two immediately preceding
financial years or during the current financial year;

5. Independent Director, neither himself nor any of his relatives —

Ý holds or has held the position of a key managerial personnel or is or has been employee of the company
or its holding, subsidiary or associate company in any of the three financial years immediately preceding
the financial year in which he is proposed to be appointed;

Ý is or has been an employee or proprietor or a partner, in any of the three financial years immediately
preceding the financial year in which he is proposed to be appointed;

Ý a firm of auditors or company secretaries in practice or cost auditors of the company or its holding,
subsidiary or associate company; or

> ANNUAL RETURN:

The extract of the Annual Return pursuant to the provisions of section 92 read with Rule 12 of the Companies
(Rules), 2014 is furnished in Annexure I (MGT - 9) and is attached to this Report.

> DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO
THE FINANCIAL STATEMENTS:

The directors, have laid down internal financial controls to be followed by the company and that such internal
financial controls are adequate and were operating effectively.

> DETAILS OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANIES:

Mayukh Trading Private Limited (incorporated on 29^th October, 2021), the subsidiary of the Mayukh Dealtrade
Limited by investment in 60 % Equity Shares of Mayukh Trading Private Limited.

During the F.Y. 2023-24 the name of subsidiary company has been changed from Mayukh Medicare Private
Limited to Mayukh Trading Private Limited.

There is no Joint Venture or Associate Company as on 31^st March, 2024.

> ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS :

The company has not issued any of its securities with differential rights during the year under review.

> AUDITORS & THEIR REPORTS:

A. Statutory Auditors:

In terms of section 139 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014,
M/s. SSRV & Associates, Chartered Accountants, (Firm Registration No. 112187W) was appointed as the
statutory auditors of the Company.

The Standalone & consolidated Auditors Report and the Notes on financial statement for the year 2023-24
referred to in the Auditor's Report are self-explanatory and does not contain any qualification, reservation or an
adverse remark, therefore, do not call for any further comments.

B. Secretarial Audit Report:

Pursuant to Section 204 of the Companies Act and the Companies (Appointment and Remuneration of
Managerial Personnel), 2014 the Board of Directors of the Company has appointed M/s. Mr. Brajesh Gupta
(Mem No: 33070 & COP: 21306) Practicing Company Secretary, to conduct the Secretarial Audit of the Company
for the financial year 2023-24. The Secretarial Auditors have submitted their report as provided under Annexure-
III to this Board's Report, confirming compliance by the Company of all the provisions of applicable laws.

The Secretarial Audit Report contains three observation remarks as follow.

i) The Bombay Stock exchange Limited (BSE Ltd.) has imposed penalty of Rs. 3,30,400/- including GST
for delay filing of listing application beyond 20 days of issue of equity shares allotted pursuant to
conversion of Warrants in to equity shares, within the time limit therefore BSE Ltd. imposed Penalty
of on the Company:

Management Reply: The Company has informed to us, that the SOP fine of Rs. 3,30,400/- including
GST paid by the Company dated 18 February, 2024. and there were no other fine/penalties was levied
during the year.

ii) The Company has received a notice of Fine SOP Fine under regulation 6(1) of SEBI LODR Regulations,
2015.

Management Reply: As per the information given by the company's management, the Company is in
process of finding suitable candidature for appointment as Company Secretary & Compliance Officer
of the Company.

iii) The BSE Ltd. has sought clarification vide email/letter dated 29^th January, 2024 from the company
during the year for significant price movement in the shares of the company and the Company has
also received communication from BSE Ltd. for Youtube channel video on the shares of the company
and therefore the securities of the company was gone under GSM - IV w.e.f. 30.01.2024.

Management Reply: The management of the Company has informed to us they are not aware about
circulating all this fake/misleading/wronginformation about the company and its business on social
media platform, in this regards the company has submitted necessary disclosures with BSE under
Regulation 30 of SEBI (LODR) Regulations 2015 to stock exchange/shareholders/stakeholders not to
believe and trust on such misleading information's which are not informed by though its officer
email/website/publication at stock Exchange through announcements/outcome of meetings, the
company also taken action to submit written police complaint of this event and issue, the company
has also filed an court case (to safeguard the shareholders/stakeholders) against such channel who
has circulated this misleading news on social media platform, the company is adhere to protect the
interest and trust of investors/shareholders/stakeholders all the time.

c. Internal Audit Report:

The Company has appointed M/s Ashwin Mantri & Co, Chartered accountants as Internal Auditor of the
company in terms of section 138 of the Companies Act, 2013 for the financial year 2023-24 and internal Auditor
has conducted the audit for F.Y. 2023-24 Auditor's Report are self-explanatory and does not contain any
qualification, reservation or an adverse remark, therefore, do not call for any further comments.

d. Cost Auditors

Appointment of Cost Auditor is not applicable to the Company. Hence, the company has not appointed any Cost
Auditor and cost accounts and records are not required to maintain by the company.

During the year under review, the Statutory Auditor and Secretarial Auditor have not reported any instances of
frauds Committed in the Company by its Officers or Employees, to the Audit Committee under Section 143(12)
of the Act details of which needs to be mentioned in this Report.

> SEXUAL HARASSMENT OF WOMEN AT WORK PLACE

The Company has in place a policy in line with the requirements of the Sexual Harassment of Women at
workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set
up to redress complaints received regarding sexual harassment. All employees (permanent, contractual,
temporary, trainees) are covered under this Policy. There were nil complaints received during the year under
review.

> RISK MANAGEMENT POLICY:

The Board of Directors of the Company are of the view that currently no significant risk factors are present which
may threaten the existence of the company.

During the year, your Directors have an adequate risk management policy in place capable of addressing those
risks. The company manages monitors and reports on the principal risks and uncertainties that can impact its
ability to achieve its strategic objectives. The Audit Committee and Board of Directors review these procedures
periodically. The company's management systems, organizational structures, processes, standards, code of
conduct and behavior together form a complete and effective Risk Management System (RMS).

> MANAGERIAL REMUNERATION

The company earned minimal profit during the year so the company has provided limited Managerial
Remuneration to the Directors.

> CORPORATE SOCIAL RESPONSIBILITY (CSR)

We view responsible conduct as a necessary input for long term business success. We accept responsibility for
our business, or employees and society. That is how we define our corporate responsibility. But as per Section
135 of Companies Act, 2013 your company is out of the preview of this responsibility.

> CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the members of the Board and all
employees in the course of day to day business operations of the company. The Company believes in "Zero
Tolerance" against bribery, corruption and unethical dealings / behaviors of any form and the Board has laid
down the directives to counter such acts. The Code has been posted on the Company's website.

The Code lays down the standard procedure of business conduct which is expected to be followed by the
Directors and the designated employees in their business dealings and in particular on matters relating to
integrity in the work place, in business practices and in dealing with stakeholders. The Code gives guidance
through examples on the expected behavior from an employee in a given situation and the reporting structure.

All the board members and the senior management personnel have confirmed compliance with the code. All
management staff were given appropriate training in this regard. The declaration on Code of Conduct is annexed
as Annexure - V.

> VIGIL MECHANISM/ WHISTLE BLOWER POLICY

The Company has a vigil mechanism named Fraud and Risk Management Policy to deal with instance of fraud
and mismanagement, if any, in staying true to our values of Strength, Performance and Passion and in line with
our vision of being one of the most respected companies in India, the Company is committed to the high
standards of Corporate Governance and Stakeholder Responsibility.

> PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading
in securities by the directors and designated employees of the Company. The Code requires pre- clearance for
dealing in the Company's shares and prohibits the purchase or sale of company shares by the directors and the
designated employees while in possession of unpublished price sensitive information in relation to the company
and during the period when the trading window is closed. The Board is responsible for implementation of the
Code.

All Board of Directors and the designated employees have confirmed compliance with the Code.

> SIGNIFICANT AND MATERIAL ORDERS

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

> CFO CERTIFICATION

The Chief Financial Officer Certification as required under Regulation 17(8) read with Part B of Schedule II of the
SEBI (LODR) Regulation, 2015 have been appended to this report in Annexure- VI.

> PARTICULARS OF EMPLOYEES AND RELATED INFORMATION

In terms of the provisions of Section 197(12) of the Act read with Rule 5 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, a statement containing the disclosures pertaining to
remuneration and other details as required under the Act and the above Rules are provided in the Annual Report.
The disclosures as specified under Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014. Attached as Annexure - ANNEXURE-II

> DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, your Directors confirm that —

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along
with proper explanation relating to material departures.

(b) The directors have selected such accounting policies and applied them consistently and made judgments
and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of
the company at the end of the financial year and of the profit and loss of the company for that period;

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the 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 the company
and that such internal financial controls are adequate and were operating effectively, and

(f) The directors have devised proper systems to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating effectively.

> DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND
BANKRUPTCY CODE 2016:

During the year under review, there were no applications made or proceeding pending in the name of the
company under the Insolvency Bankruptcy Code, 2016.

> DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND
VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS:

During the year under review, there has no one-time settlement of Loans taken from Banks and Financial
Institutions.

> ACKNOWLEDGEMENTS:

Your Directors would like to acknowledge and place on record their sincere appreciation to all Stakeholders,
Clients, Financial Institutions, Banks, Central and State Governments, the Company's valued investors and all
other business partners for their continued co-operation and excellent support received during the year.

Your Directors recognize and appreciate the efforts and hard work of all the employees of the Company and
their continued contribution to its growth.

By Order of the Board

For Mayukh Dealtrade Limited

Sd/- Sd/-

Mit Tarunkumar Brahmbhatt Khushboo Vasudev

Managing Director Director

DIN: 06520600 DIN: 08415000

Date: 30^th August, 2024
Place: Mumbai