The Board of Directors are pleased to present the 16^th Annual Report on the business and operations of your Company, "Reetech International Cargo and Courier Limited" together with the Audited Financial Statements for the financial year ended 31^st March, 2024 and on the state of affairs of the Company. In line with the requirements of the Companies Act, 2013 and the rules framed thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this report covers the financial results and other developments during April 01, 2023 to March 31, 2024.

The Company's Financial Performance on standalone and consolidated basis for the financial year ended on 31^st March, 2024 under review along with previous year's figures are given hereunder:

Rs

The company has incurred profit in our pre executed deals completed in the first and second quarter of the financial year 2023-2024. Thus Company's half yearly Financial Statements reflected a Profit of Rs. 8.39 Lakhs (PBT) in its first half yearly Financial Results for the period ended as on September 30, 2023. The company in the second half yearly performance for the period ended as on March 31, 2024, and the profit before taxes stood at Rs. 134.068 Lakhs.

The company's Annual Financial Results as on 31st March, 2024 reported its revenue from operations from trading of Sponge Iron & imported coal to Rs.2927.317 lakhs which is decline by 82.29% as compared Rs. 16528.12 lakhs reported as on financial year end 31st March, 2023.

The appropriations to General Reserve for the Financial Year ended March 31, 2024 as per the financial statements are:

An amount of Rs. 101.36 Lakhs has been transferred to General Reserve as per the existing provisions of the Companies Act, 2013 and rules made there under.

The company regrets its inability to distribute any dividend to its shareholders as company has not attaining certain amount of profit as much as required .Thus provisions of section 125(2) of the companies Act, 2013 do not apply.

Your Company during the financial year 2023-24, has authorized capital of Rs. 6,00,00,000/- (Six Crores) divided into 60,00,000, (Sixty Lakh) Equity Shares of Rs. 10/- (Rupees Ten Only).

Your Company has not accepted any Deposits under the applicable provisions of Companies Act, 2013 and is therefore not required to give any disclosure regarding the same.

There have been no changes in the main objects & nature of business of your company during the financial year ended March 31, 2024.

The company with its vision of expansion into other segments of trading for the purposes of dealing in or trading in iron-ore products has applied license to grant of Permit for Storage/Warehousing of Iron-Ore from the Mining department, Raipur Chhattisgarh. Mining department has moved the company's file to the Pollution Control department and Raipur

Tehsil Office for submission of their Inspection report and thus report is awaited and pending for submission by their end.

The Following material changes and commitments have occurred between the end of the financial year to which these financial statements relate and the date of the report and their impact on financial position of the company are as follows:

1. The Company has paid off its Axis Bank Car Loan Account of Rs. 90.00 lacs, for which NOC has been duly received dated July 26, 2023. The impact on the financial position of the company is to the extent of outstanding balance of principal & interest cost & foreclosure charges charged to the company at foreclosure.

2. The whole-Time Company Secretary & Compliance Officer (Key managerial personnel) of the company, Ms. Chhaya Verma has resigned for reasons to pursue opportunities outside of the company. The company took due notice of it and relieved her from her duties and responsibilities on August 17, 2023. There is no impact reported on the financial position of the company.

3. Ms. Shruti Sharma was appointed as a Whole Time Company Secretary and compliance officer of the Company in the Board meeting held on dated August 26, 2023.

4. The Board of Members incorporated a joint Development Agreement with M/s. AIM Infrastructure for the purpose of construction and development of property dated 21.02.2024 and intimation has been given to BSE on that day but the decision has been changed and the agreement is terminated, a fresh new investment agreement is going to be executed with M/s. AIM Infrastructure.

DIRECTORS & KEY MANAGERIAL PERSONNEL:

The Company has a right mix of Board of Directors. The Structure and Composition of Board has optimum number of executive and non-executive directors and key Managerial Personnel's to have good governance and to carry out the Board Functions efficiently and effectively.

The Detailed below is the Composition of Board of Directors & KMP as on 31/03/2024:

In view of Section 152(6) of the Companies Act, 2013 and the rules made there under, not less than two-thirds of the total number of directors of public company shall be liable to retire by rotation out of which one-third shall accordingly retire at every ensuing annual general meeting and being eligible can offer themselves for re-appointment at every annual general meeting.

Consequently, Mrs. Roma Ahuja, executive director of the company will retire by rotation at the ensuing annual general meeting and being eligible offer herself for re-appointment in accordance with the provisions of the company's act.

Directors declare that no directors are disqualified from being appointed as Director of the Company under Section 164 of the Companies Act, 2013.

The Board of Directors functions through the following four committees of the Company. All the Committee's of the

Board are constituted on July 15^th, 2022.

The Board of Directors has carried out an annual evaluation of its own performance, board committees and individual directors pursuant to the provisions of the Companies Act, 2013. The performance of the Board was evaluated by the board after seeking inputs from all the directors on the basis of the criteria such as the board composition and structure, effectiveness of board process, information and functioning etc.

The Board was of the view that the performance of the Board as a whole was adequate and fulfilled the parameters stipulated in the evaluation framework in its pro-growth activity. The Board also ensured that the Committee functioned adequately and independently in terms of the requirements of the Companies Act, 2013. Further, the individual directors fulfilled their applicable responsibilities and duties laid down by the Companies Act, 2013 and at the same time contributed with their valuable knowledge, experience and expertise.

Pursuant to section 134(3)(d) of the act, your company confirm having received necessary declarations from all the independent directors under section 149(7) of the companies act, 2013 declaring that they meet the criteria of independence laid down under section 149(6) of the companies act, 2013.

During the financial year under review 4 (four) Board meetings, 4 (four) Audit Committee meeting's, 2 (Two) Nomination & Remuneration Committee meeting's, 2 (Two) CSR Committee meeting's & 2 (Two) Stakeholder Relationship Committee meeting's were held:

The intervening gap between the Board meetings was within the period prescribed under the Companies Act, 2013 i.e., not more than 120 days from the previous meeting. The Committee meetings are held as per governing provisions of the Companies Act, 2013 & the various policies adopted by the company.

The last Annual General Meeting (15^th AGM) for the financial year ended March 31, 2023 was held on 27 September, 2023. The attendance record of the Directors at the Board Meetings during the year ended on March 31, 2024, and at the last Annual General Meeting is as under:

Pursuant to code for Independent Directors as per schedule IV read with section 149(8) of the companies Act, 2013 and the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 a separate meeting of Independent Directors of the company was held on February 22^nd, 2024, without the attendance of Non-Independent Director and Members of management to review the performance of non-Independent Directors (including the Chairman) and the Board as a whole. All the Independent Directors were present at the said meeting. The independent directors also reviewed the quality, quantity and timeliness of flow of information between the Management and the Board and its Committees which is necessary for the Board to effectively and reasonably perform and discharge their duties.

Independent Directors have confirmed that they are not aware of any circumstance or situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge their duties.

Pursuant to the provisions of regulation 15(2) of SEBI (LODR) Regulations, 2015, the Compliance with the Corporate Governance Report provision as specified in Regulation 27 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is not applicable to our company as we been entity listed on SME Exchange of Bombay Stock Exchange of India Limited.

ANNUAL RETURN:

In terms of section 92(3) of the companies act, 2013 and rule 12 of the companies (management and administration) rules, 2014, the annual return of the company is available on the website of the company www.reetechinternational.com

The Company has adopted a Code of Conduct for Prevention of Insider Trading dated July 15, 2022, with a view to regulate trading in securities by the Directors and designated employees of the Company. The Board of Directors and the designated employees are responsible for implementation of the Code and have confirmed compliance with the Code.

The Company has not appointed any employee(s) in receipt of remuneration exceeding the limits specified under Rule 5 (2) of Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014. The disclosure pursuant to this is enclosed in Annexure I of this report.

The information on conservation of energy and technology absorption under section 134(3)(m), of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 is not required to be given for the business segment in which your Company operates as the Company did not have any foreign exchange earnings or outgo during the financial year under review.

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and SEBI (LODR) Regulation, 2015 the Company has appointed M/s. Nitin Agrawal & Co., Practicing Company Secretaries, Raipur (C.G.) having (M No:-F-9684 & CP No.:11931) as the Secretarial Auditor of the Company for the F.Y. 2023-24 to undertake Secretarial Audit.

The Secretarial Audit Report received from the Secretarial Auditor of the Company for the Financial Year 2023-24 is annexed herewith as ANNEXURE-II

Pursuant to provision of Section 138 of the Companies Act, 2013 Rule 13 of The Companies (Accounts) Rules, 2014, the Company has appointed M/s P S N V & Associates LLP, Chartered Accountant, Raipur, (C.G.) having (FRN: C400305) as the Internal Auditor of the Company for F.Y. 2023-24 to undertake Internal Audit.

Pursuant to Section 134 (3) (c) read with Section 134 (5) of the Companies Act, 2013, your Directors state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed with proper explanation relating to material departures, if any;

b) They have, in the selection of the accounting policies, consulted the Statutory Auditors and have 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 as at 31^st March, 2024 and of its profit and Loss for the year ended on that date;

c) They have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) They have prepared the annual accounts for the year ended 31^st March, 2024 on a ‘going concern' basis; and

e) They have laid down internal financial Control to be followed by the company and that such internal financial control was adequate and operating effectively.

f) They have devised proper internal financial Control systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

The Independent Auditors Report on Standalone and Consolidated Financial statements of the company along with the Annexure as issued by the Auditors are appended in this Annual Report, wherein the Auditors have not made any qualification/ adverse remarks based on the auditing.

Pursuant to provisions of Section 139 and rules made thereunder, M/s. Gupta Agarwal & Associates, Chartered Accountants, Kolkata, having (Firm Registration No. 329001E) is appointed as the Statutory Auditors of the Company on 14^th Annual General Meeting held dated August 30, 2022 to hold office for a term of five year from the conclusion of 14th Annual General Meeting to the conclusion of 19^th Annual General meeting of the Company to be held in the year 2027.

The provisions of section 148 of Companies Act, 2013 read with Companies (Cost Record and Audit) Rules, 2014 which provides for maintenance of cost records and the audit of such cost records are not applicable to your Company.

Your Company has formulated a policy namely "Vigil Mechanism / Whistle Blower Policy" on July 15, 2022. During the financial year under review no case or complaint was received pertaining to whistle blower policy. The said Whistle Blower Policy is available on the website of the Company at https://reetechinternational.com/

Your Company has formulated a Policy for prevention of Sexual Harassment of Women at Work place namely "Anti-Sexual Harassment Policy" on July 15, 2022. During the financial year under review no case was filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The said Anti-Sexual Harassment Policy is available on the website of the Company at https://reetechinternational.com/

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standard, as issued by ICSI, pursuant to the provision of Section 118(10) of Companies Act, 2013 and that such systems are adequate and operating effectively.

There was no qualifications, reservations or adverse remarks made by the either by the Auditors or by the Practicing Company Secretary in their respective reports.

The Company has in place formed and constituted a committee called "Nomination and Remuneration Committee" of the Board of Directors on July 15, 2022 under the provisions of Section 178(1) of the companies Act, 2013.

Also the Company has devised a policy relating to appointment of Directors, payment of Managerial remuneration, Directors qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies Act, 2013.

The Terms of Reference of NRC Policy is briefed in Annexure III to Board Report.

Refer Form AOC-1 attached to Board Report for details of companies/entities which are subsidiary company, associates and joint ventures, during the year under review.

M Ahuja Project (India) Private Limited (MAPIPL) is an Associate Company, and is engaged in the business of Construction of buildings and developments of land related services and trading of Coal. The registered office is situated at Sai Kunj, Civil Lines, Raipur, and Chhattisgarh.

During the period under review, the revenue from operations of the Company stands at Rs. 29.94 Lakhs which is 90.24% decline as compared to last year's revenue which was Rs. 306.96 lakhs but the Net profit after tax for the current year showed a decline of 80.25% as compared to last year.

The Company has made requisite disclosure as required pursuant to section 186 under the provision of Companies Act, 2013 during the year. The required details form the part of financial statements and also disclosed in the independent audit report as on 31^st March, 2024.

In today's economic environment, Risk Management plays a very important part of business. The main aim of risk management is to identify, assess, prioritize, monitor and take precautionary measures in respect of the events that may pose risks to the business. The Company is not subject to any specific risk except risks associated with the general business of the Company as applicable to the industry as a whole.

However, no element of risk which in the opinion of the Board may threaten the existence of the Company has been identified so far.

Your Company has in place devised a CSR policy w.e.f July 15, 2022, with the formation of the CSR committee which is detailed in Annexure IV to Board Report.

The Annual Report on CSR Activities undertaken by the company for the period under review is detailed in Annexure V to Board Report.

The Company is conscious of the importance of environmentally clean and sale operations. The Company's policy requires the conduct of all operations in such manner so as to ensure safety of all Concerned, compliance of statutory and industrial requirements for environment protection and conservation of natural resources to the extent possible.

There is no significant material orders passed by the Regulators / Courts / Tribunal which would impact the going concern status of the Company and its future operations. Hence, disclosure pursuant to Rule 8 (5) (vii) of Companies (Accounts) Rules, 2014 is not required.

Your Company has an internal control system commensurate with the size of the Company and the nature of its business. The Declaration by the Managing Director & CFO with respect to this has been given in Annexure VI to Board Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES MADE PURSUANT TO SECTION 188 OF THE COMPANIES ACT, 2013.

All related party transactions that were entered into during the financial year 2023-24 were on an arm's length basis and were in the ordinary course of business. All Related Party Transactions were placed before the Audit Committee for approval. Prior omnibus approval of the Audit Committee is obtained and reviewed on a quarterly basis for the transactions which are of a foreseen and repetitive nature. There have been no materially significant related party transactions between the Company and the Related Parties except for those disclosed in the audited Financial Statements of the company.

During the year, Your Company had not entered into any contract/ arrangement/transaction with related parties which are not at arm's length basis which could be considered material or which are required to be reported in Form AOC-2 in terms of Section 134 (3) (h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014. Form AOC-2 does not form part of the report.

A Related Party Policy has been devised by the Board of Directors formed on July 15, 2022, for determining the materiality of transaction with the related parties and dealing with them. The said Related Party Policy is available on the website of the Company at https://reetechinternational.com/

Financial Results:

The Half Yearly Audited Results and the Annual Audited Financial Results of the Company are sent to the stock exchanges immediately after they are approved by the Board. Also, they are uploaded on the Company's website www.reetechinternational.com. The results are published in accordance with the guidelines of the Stock Exchange.

Website:

The Company's website www.reetechinternational.com contains a separate dedicated section ‘Investors' wherein shareholder's information including financial results is available. The Company's Annual Report is also available in a user- friendly and downloadable form.

The Annual Report containing, inter alia, Audited Financial Statements (standalone and consolidated), Boards' Report, Auditors' Report and other important information is circulated to Members and others entitled thereto and is displayed on the company's website www.reetechinternational.com.

BSE's Listing Centre is a web-based application designed for corporate. All periodical compliance filings like shareholding pattern, among others are also filed electronically on the Listing Centre as per the prescribed timelines under the SEBI Regulations.

SEBI Complaints Redress System (SCORES):

Investors' complaints are processed in a centralized web-based complaints redress system. The salient features of this system are: Centralized database of all complaints, online upload of Action Taken Reports (ATRs) by concerned companies and online viewing by investors of actions taken on the complaint and its current status. The Company regularly redresses the complaints if any, on SCORES within stipulated time.

Your Company always endeavor's to keep the time of response to shareholders' request / grievance at the minimum.

Priority is accorded to address all the issues raised by the shareholders and provide them a satisfactory reply at the earliest possible time.

The Stakeholders' Relationship Committee of the Board meets periodically and reviews the status of the Shareholders' Grievances.

The Company has designated the email-id info@reetechinternational.com & cs@reetechinternational.com exclusively for investor related services.

Ensuing 16^th Annual General Meeting: Day & Date: Friday, September 27^th, 2024 Time: 01:30 p.m.

Venue: Ahuja Farm, Pawan Cultivation Off VIP Road, Nakti, Raipur-492015, Chhattisgarh, India.

Financial reporting for the 1st Half Year End - November 07, 2023 Audited yearly Results for the year ending March 31, 2024- May 24, 2024

The Register of Members and Transfer Books of the Company will remain closed from Friday, September 20, 2024 to Friday, September 27, 2024 (both days inclusive).

Outstanding GDR's / ADR's / Warrant's / Convertible instruments and their impact on equity: NIL

The Company has paid listing fees up to March 31, 2024 to SME Platform of BSE Limited, where the Company's shares are listed.

E-Voting:

In terms of Section 108 of the Companies Act, 2013, Rules framed there under and SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the Company is not requiring to enroll for the e-voting facility to its Members in respect of all Members' resolutions proposed to be passed at this Annual General Meeting. All the resolutions shall be passed through Ballot Polling.

Currently 100% of the Company Share Capital is held in dematerialized form.

The shares of the Company continue to be traded in electronic forum and de-materialization exists with both the depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited.

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

THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF: During the year under review, there was no one time settlement of loans from Banks and Financial Institutions.

MANAGEMENT DISCUSSION & ANALYSIS REPORT:

Refer Annexure VII attached to this report.

The Directors wish to place on record their appreciation to the whole hearted help and co-operation, the Company has received from the business associates, partners, vendors, clients, government authorities, and bankers of the Company. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company's executives, staff and employee's.

The programmes would be identified as per the requirement in the community/schools, etc. Professional agencies may be engaged in conducting need based assessment in some programmes, wherever required.