Supreme Holdings & Hospitality Ltd

To,

The Members of

SUPREME HOLDINGS & HOSPITALITY (INDIA) LIMITED

Your Directors have pleasure in presenting Forty Second (42 ) Annual Report and Audited Accounts of the Company for the financial year ended 31 March, 2024.

FINANCIAL RESULTS AND THE STATE OF AFFAIRS:

A) Standalone

B) Consolidated

REVIEW OF OPERATIONS:

The Company is operating in the construction and development of residential and commercial projects.

The revenue from real estate activity is recognised in accordance with the "Guidance Note on Accounting for Real Estate Transactions (for entities to whom Ind AS is applicable)" issued by the Institute of Chartered Accountants of India (ICAI).

During the financial year under review, the total income of the Company was at Rs. 76,82,15,804/- as compared to Rs. 76,13,46,774/- in the previous year. The Company has reported net pro it of Rs. 7,50,43,619/- during the financial year under review as against pro it of Rs. 11,88,24,082/- in the previous year.

Tracking Records for the year

Belmac has consistently maintained an outstanding track record of results. Following a de initive year, we are striving for even more positive outcomes. At Belmac Residences, Pune, we successfully delivered one tower along with several amenities in schedule. After the possession of Tower F in January 2024, we also delivered the clubhouse with a marvellous Belmac Fiesta Event. Various amenities include a business center, kids' play area, Dog Park, Gymnassium, Spa, Banquet Hall with spill over Garden and a state of the art Swimming Pool. The development of our final tower, B In inity, is progressing rapidly and is expected to be completed by June 2025. Within our Township project in Panvel Belmac Riverside we were successful in delivering and handing over the dream homes of Terra Olive and Terra Mustard Societies. The Terra Mustard society has been allotted to Economically weaker sections of the society in order to encourage Housing For All. The same was executed in collaboration of Belmac with CIDCO. Additionally, Belmac

) Riverside is now home to over 200 families, with many more preparing to move in as Tower Terra Gold is ready for possession. Terra Gold, the last tower at Belmac Riverside, is advancing impressively, with its complete structure finished within a year. Featuring the most spacious and premium apartments of the project, Terra Gold will be delivered as scheduled. We have also recently introduced new amenities for residents, including a pet park, a kids' play area, and a volleyball court. Belmac remains committed to upholding its promises and fostering transparent and supportive relationships with its customers.

Economy and Market Outlook

In 2023, the real estate sector in India is poised for transformative growth driven by the adoption of smart home technology and sustainable practices. With over 2 billion connected devices in Indian homes by 2021, the integration of IoT-enabled appliances like touchless kitchen chimneys and AI-powered water puri iers is set to enhance energy efficiency and attract environmentally conscious consumers. This trend is complemented by a rising demand for eco-friendly real estate, evidenced by a 31% increase in green assets across major cities over the past decade. As green buildings can signi icantly cut energy and water use, developers investing in sustainable materials and renewable energy solutions are likely to gain a competitive edge. The sector is expected to thrive amid expanding commercial operations and rising incomes, with a substantial US$24.7 trillion investment opportunity in green buildings by 2030. This alignment with environmental goals positions real estate as a robust investment avenue, balancing economic growth with ecological responsibility.

The year was full of successful launches of new infrastructure developments such as the Atal Setu, Mumbai Coastal Road thus paving way for the company's future projects. These projects not only improve the accessibility of the locations where our company is located in, but also ready the entire MMR for the new Navi Mumbai Airport which is poised to be inaugurated in the next financial year.

Ongoing Projects

Belmac is successfully developing two mega townships, Belmac Residences and Belmac Riverside, in Pune and Panvel, respectively. Both projects have been completed successfully and delivered within the promised timeframe. These exquisitely designed, community-based developments boast unbounded comfort and facilitate an exemplary lifestyle.

Belmac Residences, a luxury project situated in the sought-after location of New Kalyani Nagar, offers a premium lifestyle spanning over 6 acres. The project comprises 6 opulent towers with a range of luxurious apartments and is equipped with 40+ world-class amenities. Everything one needs is within the proximity of Belmac Residences, complemented by its peaceful surroundings with minimal disturbances.

Belmac Riverside, located in the prime city of Panvel, stands at the epicenter of the MMR. It bene its from smooth transport networks and robust social infrastructure. Spread over 5.5 acres, Belmac Riverside features an aspirational community with only 4 towers, dedicating 85.5% of the space to open areas. The project is enveloped in lush greenery and a serene atmosphere, with 20+ finest amenities catering to the recreational needs of residents.

Insight into our Future

Considering the substantial transformation and foreseen growth of Panvel, we are envisioning Belmac Codename, a phenomenal mega township in the city. Sprawling over 11.43 acres of plush land parcel, it will be a state-of-the-art residential development exhibiting magni icent architectural and contemporary features. It will be inclusive of all necessary amenities to cater to every aspiration of modern homebuyers. Belmac Codename will be an exceptional residential structure, carved out precisely within the best location to stand out among others.

Belmac is also in advance talks of launching the first neo classical style project in Panvel located in Town Planning Scheme-2 in NAINA area. The approvals are underway and further information will be shared once futher progress is made in the project.

It is our constant endevour to provide good quality homes to our customers which are not only Landmarks but which last Generations. We are constantly analysing and evaluating new proposals in and around Pune and Mumbai Metropolitan Region with a skilled Business Development team. We have been persistent in innovative designs that resonate with ever-evolving market trends. The concept of design is paramount for us, and we pay detailed attention to every corner. Every space is finely crafted to enhance the living experience of our clientele. With our visionary team, we are exploring potential markets and working towards expanding our footprint. Future projects in Panvel will be built under the banner of Belmac City in Navi Mumbai, reinforcing our commitment to creating premier residential communities in the region.

DIVIDEND:

The Board thought it fit to conserve cash for continuing its business operations smoothly and therefore, did not recommend any dividend for the financial year 2023-24.

TRANSFER TO RESERVES:

The Company has not transferred any amount to the reserves during the financial year 2023-24.

CONVERSION OF WARRANTS ISSUED TO PROMOTERS TO INTO EQUITY SHARES

Pursuant to the provisions of the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) and the approval accorded by the members of the Company, the Company had issued 17,00,000 Convertible Warrants on Preferential basis to the Promoters / Promoter Group Shareholders of the Company at a price of 23/- per warrant (including premium of 13/- per warrant) as per the applicable SEBI ICDR Regulations and upon receipt of the consideration amounting to Rs. 97.75 Lakhs (towards 25% of the issue price) the Company had allotted partly paid warrants to the allottees on 18 May, 2022.

As per terms of the preferential issue these warrants were converted into equity shares of the Company upon receipt of the balance 75% amounting to Rs. 293.25 lakhs from the allottees. The Equity Shares allotted consequent to the conversion of the Warrants are listed and traded on BSE.

SHARE CAPITAL:

The authorized share capital of the Company is Rs. 40,00,00,000 divided into 4,00,00,000 Equity Shares of Rs. 10/- each. At the beginning of the financial year under review, the issued, subscribed and fully paid up capital of the Company was Rs. 35,47,68,530/- divided into 3,54,76,853 equity shares of Rs. 10/- each. During the financial year under review, following change took place in the share capital of the Company:

On 16th November, 2023, the Company converted 17,00,000 Convertible Warrants into Equity Shares of Rs. 10/- each, which were allotted on 18th May, 2022.

Post aforesaid change, the issued, subscribed and fully paid up capital of the Company was Rs. 37,17,68,530/- divided into 3,71,76,853 Equity Shares of Rs. 10/- each

There was no buyback offer made by the Company during the financial year under review.

CHANGE IN NATURE OF BUSINESS:

There is no change in the nature of business of the Company during the financial year under review.

DEPOSITS UNDER CHAPTER V OF COMPANIES ACT, 2013:

During the financial year under review, your Company did not accept any deposit within the meaning of the provisions of Chapter

V Acceptance of Deposits by Companies, of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014. Hence, no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet.

PARTICULARS OF LOANS, GUARANTEES, SECURITIES OR INVESTMENTS UNDER SECTION 186:

The particulars of loans, guarantees and investments as per Section 186 of the Companies Act, 2013 by the Company, have been disclosed in the financial statements provided in this annual report.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND:

The Company has not transferred any shares to the Investor Education and Protection Fund established by the Central Government for the financial year under review.

EXTRACT OF ANNUAL RETURN:

As per the requirements of Section 92(3) of the Act and Rules framed thereunder, the extract of the Annual Return for FY 2023-24 is uploaded on the website of the Company www.supremeholdings.net.

PARTICULARS OF EMPLOYEES:

The information on employee particulars as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to time, are given in "Annexure I", forming part of this report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All contracts, arrangements and transactions entered into by the Company during the financial year under review with related parties were on an arm's length basis and in the ordinary course of business.

All Related Party Transactions were placed before the Audit Committee for approval. Omnibus approval of the Audit Committee was obtained for the transactions which were of a repetitive nature. The transactions entered into pursuant to the omnibus approval so granted were reviewed and statements giving details of all related party transactions were placed before the Audit Committee on a quarterly basis.

The policy on Related Party Transactions is hosted on the website o f t h e C o m p a n y u n d e r t h e w e b l i n k https://supremeholdings.net/company-policies.html

SUBSIDIARY COMPANY:

Your Company has two Wholly Owned Subsidiary Companies namely Helmet Traderz Limited and Belmaac City Developers Private Limited and one Subsidiary Company namely Visana Infrastructure Private Limited as on 31st March, 2024.

As per the provisions of Section 129 of the Companies Act, 2013 read with Rule 5 of Companies (Accounts) Rules, 2014, a separate statement containing the salient features of the Financial

Statements of the Subsidiary Companies/ Associate Companies/Joint Ventures as at 31 March, 2024 in Form AOC-1 is annexed to this Board's Report in "Annexure II".

The policy on determining Material Subsidiaries as approved by the Board is hosted on the website of the Company under the web link https://supremeholdings.net/company-policies.html

NOMINATION AND REMUNERATION COMMITEE:

The Company has in place a Nomination and Remuneration Committee in accordance with the requirements of the Companies Act, 2013 read with the rules made thereunder and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details relating to the same are given in "Annexure III" - Report on Corporate Governance forming part of this Board Report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

There have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for Directors and employees in con irmation with Section 177(9) of the Act and Regulation 22 of Listing Regulations, to report concerns about unethical behaviour. This Policy is available on the Company's website on under the web link https://www.supremeholdings.net/company-policies.

CORPORATE GOVERNANCE REPORT AND MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Your Company continues to be committed to good corporate governance aligned with the best corporate practices. It has also complied with various standards set out by Securities and Exchange Board of India and the Bombay Stock Exchange (BSE). The Management Discussion and Analysis Report for the inancial year 2023-24, as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of the Annual Report.

For the inancial year ended 31st March, 2024, your Company has complied with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable rules and regulations with respect to Corporate Governance.

A certi icate from a Practising Company Secretary obtained by the Company regarding such compliance of conditions of Corporate Governance is annexed to the Corporate Governance Report which forms part of the Annual Report.

RISK MANAGEMENT:

The Company has adequate risk assessment and mitigation policy commensurate with size and nature of business to ensure that all the current and future material risk exposures of the Company are identifiied, assessed, quantified, appropriately mitigated, minimised and managed. There are no elements of risk which in the opinion of the Board may threaten the existence of the Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In accordance with the provisions of Section 152 of the Companies Act, 2013 and in terms of the Articles of Association of the Company, Mrs. Namita Prateek Jatia (DIN: 07660840), retires by rotation at the forthcoming Annual General Meeting and, being eligible, offers herself for reappointment.

Further, during the financial year under review there were no change in composition of Board of Directors of the Company.

However, Mrs. Shruti Sunil Jatia resigned from post of Independent Directorship of the Company with effect from 16th April, 2024. The Board placed on record her appreciation for the assistance and guidance provided by her during her tenure as the Independent Director of the Company.

During the financial year under review following changes took place in respect of Key Managerial Personnel:

? Mr. Rohan Chinchkar (ACS 56176), Company Secretary and Compliance of icer of the Company tendered his resignation from the position of Company Secretary and Compliance Of icer, with effect from closing of working hours of 17th April, 2023.

? Pursuant to the recommendation of the Nomination and Remuneration Committee, the Board at its Meeting held on 1st July, 2023, approved the appointment of Ms. Riddhi Rajesh Doshi (ACS 71267) as the Company Secretary and Compliance Of icer with effect from 1st July, 2023. However, she tendered her resignation from the position of Company Secretary and Compliance Of icer, with effect from closing of working hours of 2nd November, 2023.

? Further, Pursuant to the recommendation of the Nomination and Remuneration Committee, the Board at its Meeting held on 24th January, 2024, approved the appointment of Ms. Pallavi Ronit Passwala (ACS 60877) as the Company Secretary and Compliance Of icer with effect from 24th January, 2024. However, she tendered her resignation from the position of Company Secretary and Compliance Of icer, with effect from closing of working hours of 29th February, 2024.

The position of Company Secretary and Compliance Of icer was vacant thereafter. Mr. Rohan Chinchkar (ACS 56176) was appointed as Company Secretary of the Company w.e.f. 4th June, 2024.

DECLARATION OF INDEPENDENCE:

The Company has received Declarations of Independence as stipulated under Section 149(7) of the Companies Act, 2013 from Independent Directors con irming that he/she is not disquali ied from appointing/continuing as Independent Director as laid down in section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Companies Act, 2013.

The Independent Directors have also con irmed 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.

The Board of Directors, based on the declaration(s) received from the Independent Directors, have veri ied the veracity of such disclosures and con irm that the Independent Directors ful il the conditions of independence speci ied in the Listing Regulations and the Companies Act, 2013 and are independent of the management of the Company.

In the opinion of the Board, all the Independent Directors are persons of possessing attributes of integrity, expertise and experience as required under the applicable laws, rules and regulations.

The Company has issued letters of appointment/ reappointment to Independent Directors in the manner as provided under Companies Act, 2013.

ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, COMMITTEES AND DIRECTORS:

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 and SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

In a separate meeting of Independent Directors, performance of Non-Independent Directors, the Board as a whole and the Chairman of the Company was evaluated. Further, the Independent Directors in the said meeting had also assessed the quality, quantity and timeliness of flow of information between the Company management and the Board.

Performance evaluation of Independent Directors was done by the entire board, excluding the Independent Director being evaluated.

The performance evaluation of the Board was based on the criteria such as the board composition and structure, information and functioning, succession planning, strategic planning, etc.

The performance evaluation of the committees was based on the criteria such as structure of the committee and meetings, effectiveness of committee meetings, frequency of the meetings, etc.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS:

Pursuant to requirements of Regulation 25 of SEBI Listing Regulations, 2015, your Company has in place the familiarisation programme for Independent Directors with regard to their role, duties and responsibilities, nature of the industry in which the Company operates, business/operating model of the Company etc. The Board Members are provided with all necessary documents/reports and internal policies to enable them to familiarise with the Company's procedures and practices. The details of the training and familiarization program are provided in the Corporate Governance report.

The Company's Policy of conducting the familiarization programme has been hosted on the website of the Company under the web link https://www.supremeholdings.net/company-policies.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:

During the financial year under review, Seven (7) Board Meetings were held. The details of which are given in the Corporate Governance Report, which forms a part of the Annual Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013.

KEY MANAGERIAL PERSONNEL:

Pursuant to the provisions of the Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company as on the date of this Report are:

- Mr. Vidip Jatia, Chairman, Managing Director and Chief Financial Of icer

- Mrs. Namita Jatia, Whole-time Director

- Mr. Rohan Chinchkar, Company Secretary & Compliance Of icer

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement under section 134 (3) (c) of the Companies Act, 2013 with respect to Directors' responsibility statement it is hereby con irmed:

i) That in the preparation of the accounts for the financial year ended 31 March, 2024, the applicable Accounting Standards have been followed along with proper explanations relating to material departures;

ii) That 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 a airs of the Company at the end of the financial year and of the pro it of the Company for that period;

iii) That the Directors have taken proper and suf icient care 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;

iv) That the Directors have prepared the accounts on a going concern basis;

v) That Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively;

vi) That the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

COMMITTEES OF BOARD:

Committees appointed by the Board focus on speci ic areas and take informed decisions within the framework of delegated authority and make speci ic recommendations to the Board on matters in their areas or purview.

? Audit Committee

? Nomination and Remuneration Committee

? Corporate Social Responsibility Committee

? Stakeholders' Relationship Committee

The details pertaining to the composition of the Committees are included in the Corporate Governance Report, which is a part of this report. However, the Company is not required to form/maintain Risk Management Committee as it is applicable to top 1000 listed companies.

AUDITORS AND AUDITORS REPORT:

M/s. Mittal Agarwal & Company, Chartered Accountants (Firm Registration No. 131025W) the Statutory Auditors of the Company, will hold of ice till the conclusion of the Forty Second Annual General Meeting of the Company.

The Board of Directors recommends re-appointment of Statutory Auditor of the Company, M/s. Mittal Agarwal & Company, Chartered Accountants [ICAI Registration No. 131025W] for further tenure of five years ie. upto the conclusion of 47th Annual General meeting of the company to be held in the year 2029.

There are no quali ications, reservations, adverse remarks or disclaimers made by M/s. Mittal Agarwal & Company, Statutory Auditors in their Report for FY 2023-24. The Statutory Auditors have not reported any incident of fraud to the Audit Committee of the Company during the financial year under review.

SECRETARIAL AUDITOR:

Your Company has appointed M/s. Khyati Shah & Co., Company Secretaries in Practice to undertake the Secretarial Audit of your Company pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, in the Board Meeting held on 26 May, 2023. The Report of the Secretarial Auditor in Form MR-3 for FY 2023-24 is appended as "Annexure IV" to this Board's Report.

There is no quali ication, reservation or adverse remark made by the Secretarial Auditor in their report. The Secretarial Auditor has not reported any incident of fraud during the financial year under review.

INTERNAL AUDITOR:

Your Company has appointed M/s. M J S P & Associates, Chartered Accountants (FRN: 147743W) as Internal Auditors of the Company pursuant to the provisions of Section 138 of the Companies Act, 2013 and the Companies (Accounts) Rules, 2014, in the Board Meeting held on 26 May, 2023 for the financial year 2023-24.

DISCLOSURE REQUIREMENTS:

The various policies and codes adopted by the Company are stated in detail in the Corporate Governance Report of the Company, which forms part of the Annual Report.

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

During the financial year under review, the Company submitted an application to the Reserve Bank of India on 17 January, 2024 for compounding of contravention of the provisions of the Foreign Exchange Management Act, 1999 for delay in filing of Form FC GPR (Part A). The Hon'ble Reserve Bank of India reviewed the application and compounded the contravention vide Compounding Order dated 2 July, 2024 subject to compounding fees of Rs. 22,500/-. As on the date of this report, the Company has complied with the requirements outlined in the order.

A. Conservation of Energy

i. The steps taken or impact on conservation of energy:

Though our operations are not energy - intensive, efforts have been made to conserve energy by utilizing energy- ef icient equipment.

ii. The steps taken by the Company for utilizing alternate sources of energy:

The Company is using electricity as the main source of energy and is currently not exploring any alternate source of energy. In future your Company will take steps to conserve energy and use alternative sources of energy such as solar energy.

iii. The Capital investment on energy conservation equipment:

Your Company firmly believes that our planet is in dire need of energy resources and conservation is the best policy. Your Company has not made any investment on energy conservation equipment.

B. Technological Absorption:

i. The efforts made towards technology absorption:

During the inancial year the Company does not have any plant & machinery. Therefore, no technology absorption and research and development activity are carried out.

ii. The bene its derived like product improvement, cost reduction, product development or import substitution:

No such speci ic bene it derived during the financial year due to technology absorption. iii. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year:

No technology has been imported by the Company. iv. The expenditure incurred on Research and Development: NIL

C. Foreign Exchange Earnings and Outgo

Foreign Exchange Earning: Nil (Previous year- Nil)

Foreign Exchange Outgo: Sales and Marketing Expenses and Foreign Travelling Expenses- Rs. 6.05 lakhs (Previous Year-Rs. 7.95 lakhs)

DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of

Sexual Harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH) and the rules made thereunder. The Policy aims to provide protection to employees at workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure.

Further, the Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

No complaints were received by the Company during the F.Y. 2023-24.

INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY:

Your Company has implemented Internal Financial Controls over financial reporting through policies, procedures and guidelines. The controls are tested for its effectiveness. The approved schedule of powers is used to control the approval process for various activities, based on hierarchical value limits and segregation of duties.

A combination of these system enables your Company to maintain a robust design of controls and its operating effectiveness is ensured through periodical internal checks and audit.

CORPORATE SOCIAL RESPONSIBILITY:

In compliance with the requirements of Section 135 of the Companies Act, 2013 read with the applicable rules made there under, the Company has a duly constituted CSR Committee. The details of the Committee are provided in the Corporate Governance Report of the Company, which forms part of the Annual Report.

The contents of the CSR Policy of the Company as approved by the Board on the recommendation of the CSR Committee is available on the website of the Company and can be accessed through the web link https://www.supremeholdings.net/company-policies.The Annual Report on CSR activities in terms of the requirements of Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed as "Annexure - V", which forms part of this Report.

DETAILS OF FRAUDS REPORTED BY AUDITORS

There were no frauds reported by the Statutory Auditors under the provisions of Section 143(12) of the Companies Act, 2013 and the Rules made there under.

DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

Neither any application was made nor any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year under review.

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

As Company has not done any one-time settlement during the financial year under review hence no disclosure is required.

MAINTENANCE OF COST RECORDS:

The Company is required to maintain cost records as speci ied under Section 148 (1) of the Companies Act, 2013 and such accounts and records are made and maintained by the Company for the financial year 2023-24.

ACKNOWLEDGEMENTS:

The Board of Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by all the Government agencies, shareholders and employees at all levels and look forwards for their continued support.