Silverline Technologies Ltd. के निदेशक की रिपोर्ट

Mar 31, 2025

Your directors are pleased to present their Report together with the audited financial statements of your
Company for the year ended 31st March, 2025.

SUMMARISED FINANCIAL RESULTS:

The summarized financial results are given below:

In Lakhs)

Particulars	2024-2025	2023-2024
	Standalone	Standalone
Revenue from Operations	3370.91	172.21
Other Income	-	-
Total Income Expenses	3370.91	172.21
Operating Expenditure	-	-
Changes in inventories of finished goods and work-in-process and stock-in-trade	-	-
Employee benefits expenses	18.62	18.77
Depreciation and amortization expense	10.25	5.60
Finance Cost	-	0.17
Other expenses	306.48	145.77
Profit / (loss) from operations before extra ordinary items and tax	-42.70	1.90
Extraordinary Items	-	-
Profit/(loss) after Extraordinary Items and before tax	-42.70	1.90
Tax Expense: Current Tax	-	0.75
Deferred tax (credit) /charge	-	-
lncome-Tax of Earlier Year	-	-
Net Profit / (loss) for the period	-42.70	1.16

BUSINESS OUTLOOK:

The Companies growth considering the past few years'' performance has declined. The Company is striving
hard for increasing profits from year to year. The total revenue from the operations for the year ended March
31, 2025 amounted to '' 3370.91 Lakhs and the loss of '' 42.70 lakhs for year ended March''2025.

DETAILS OF MATERIAL CHANGES FROM THE END OF THE FINANCIAL YEAR TILL THE DATE OF
THIS REPORT:

During the financial year under review, the Company has successfully raised additional capital through the
preferential allotment of equity shares in accordance with the provisions of the Companies Act, 2013 and
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.

Pursuant to this allotment, the Company has issued and allotted 9,59,42,000 equity shares of face value of ''
10 each at a price of '' 10 per share, aggregating to '' 95,94,20,000/- on preferential basis to non-promoters.
The funds raised through this preferential issue have been/will be utilized towards the repayment of debt and
expansion plans thereby strengthening the financial position of the Company.

SUBSIDIARY OF THE COMPANY:

The Company does not have any Subsidiary as on 31st March, 2025.

The preparation of consolidated financial statement is applicable to the company as there is no subsidiary.
DIVIDEND:

The Board of Directors after considering various factors including expansion and to conserve resources, has
deemed it prudent not to recommend any final dividend on equity shares for the year ended 31st March,
2025.

TRANFSER TO RESERVES:

The Board of Directors of the Company has not recommended transfer of any amount to the General Reserve
for the Financial Year ended March 31, 2025.

SHARE CAPITAL:

The Paid up Equity Share Capital of the Company as on March 31, 2025 was '' 1,55,92,74,880 divided into
15,59,27,488 Equity shares having face value of '' 10 each. During the year under review, the Company
has issued and allotted 9,59,42,000 equity shares of face value of '' 10 each at a price of '' 10 per share,
aggregating to '' 95,94,20,000/- on preferential basis to non-promoters

HEALTH, SAFETY AND ENVIRONMENT:

There is no plant site of company and no insurance cover taken for the plant site.

There are no details available for insurance cover of the company''s office premises.

PUBLIC DEPOSITS:

The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73
of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014 during the year
under review. Hence, the requirement for furnishing of details of deposits which are not in compliance with
the Chapter V of the Act is not applicable.

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

Particulars in respect of conservation of energy, technology absorption and foreign exchange earnings
and outgo, as required under Section 134(3) (m) of the Companies Act, 2013 read with the Companies
(Accounts) Rules, 2014 are set out as follows.

The Company constantly takes effective steps to attain energy conservation.

The Company does not employ any foreign technology which needs absorption or adaptation.

Relevant figures of foreign exchange earnings and outgo are given in notes to accounts paragraph annexed
to the financial statements.

SEGMENT REPORTING:

Your Company''s main business is "Polymer Processing" and all other activities of the company revolve
around this main business. As such there are no separate reportable segments within the Company and
hence, the segment wise reporting as defined in Ind AS 108 - Operating Segments (Accounting Standards
17) is not applicable to the Company.

CHANGE IN THE NATURE OF BUSINESS, IF ANY:

During the year under review, there has been a change in the nature of the business of the Company. Pursuant
to the approval of the shareholders and in accordance with the applicable provisions of the Companies Act,
2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has
altered its main objects in the Memorandum of Association. Consequently, the Company has entered into the
business of agriculture trading and technology , marking a strategic shift from its previous line of business.

This change aligns with the Company''s long-term growth objectives and is expected to offer new opportunities
in the agri-commodity sector.

INTERNAL FINANCIAL CONTROLS:

The Corporate Governance Policies guide the conduct of affairs of your Company and clearly delineate the
roles, responsibilities and authorities at each level of its governance structure and key functionaries involved
in governance. The Code of Conduct for Senior Management and Employees of your Company (the Code of
Conduct) commits Management to financial and accounting policies, systems and processes. The Corporate
Governance Policies and the Code of Conduct stand widely communicated across your Company at all
times.

Your Company''s Financial Statements are prepared on the basis of the Significant Accounting Policies
that are carefully selected by Management and approved by the Audit Committee and the Board. These
Accounting policies are reviewed and updated from time to time.

CORPORATE GOVERNANCE:

Your Company has a rich legacy of ethical governance practices many of which were implemented by
the Company, even before they were mandated by law. A Report on Corporate Governance along with a
Certificate from Practicing Company Secretaries, regarding compliance with the conditions of Corporate
Governance as stipulated under Schedule V of the Listing Regulations forms part of this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

A detailed analysis of your Company''s performance is discussed in the Management Discussion and Analysis
Report, which forms part of this Annual Report.

The Company has established a vigil mechanism by adopting a Whistle Blower Policy for stakeholders
including directors and employees of the Company and their representative bodies to freely report /
communicate their concerns / grievances about illegal or unethical practices in the Company, actual or
suspected, fraud or violation of the Company''s Code or Policies. The vigil mechanism is overseen by the
Audit Committee and provides adequate safeguards against victimization of stakeholders who use such
mechanism.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE:

The Company has Zero Tolerance towards sexual harassment at the workplace and has adopted a Policy
for Prevention of Sexual Harassment in line with the requirements of the Sexual Harassment of Women
at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (“POSH Act”) to provide a safe, secure and
enabling environment, free from sexual harassment. The Committee have been constituted to redress
complaints of sexual harassment and the Company has complied with the provisions relating

to the constitution of committee under the Act.

During the year the Company received NIL complaints. As on this date of this report, there are no complaints
received by/ pending with the Company under POSH Act.

The details of complaints relating to sexual harassment received and disposed of during the financial year
2024-2025 are as follows:

Number of complaints of sexual harassment received	NIL
Number of complaints disposed of during the year	NIL
Number of complaints pending for more than 90 days	NIL

AUDITORS:

STATUTORY AUDITORS AND AUDITORS'' REPORT:

Mr. Parth Shah of M/s S. Parth & Co (Firm Registration No 154463W ), was appointed as the Statutory
Auditors of the Company, for the term of three years from the conclusion of 32nd AGM till the conclusion
of the Thirty Fifth AGM of the Company to be held in the year 2027, at a remuneration as may be mutually
agreed between the Board and the Statutory Auditors.

Further, the Auditors'' Report given by M/s S. Parth & Co for FY 2024-2025 is Qualified .

The following are the qualifications given by the Statutory Auditor and the reply by the management is given
below:

1. A reconciliation of GST credit receivables with the GST portal is pending. Until this reconciliation is
completed, the accuracy of the input tax credit and the associated liability position may be subject to
change.

Management Reply:

Reconciliation of GST Credit Receivables

The reconciliation of GST credit receivables with the GST portal is under process. The Company is in the
process of carrying out a detailed reconciliation exercise and necessary adjustments, if any, will be duly
recorded in the books of accounts upon completion.

2. Trade payables have not been classified between Micro, Small, and Medium Enterprises (MSME).
This omission may lead to non-compliance with disclosure requirements under the MSMED Act,
2006, impacting regulatory compliance and financial transparency. Further Outstanding balances with
certain suppliers have not been confirmed. Confirmation from counterparty is not available in case of
outstanding receivable.

Management Reply:

Classification of Trade Payables under MSME

The classification of trade payables into Micro, Small, and Medium Enterprises as per the MSMED Act,
2006 is in progress. The Company is in the process of obtaining requisite information and declarations
from suppliers/vendors to enable appropriate classification and disclosure in compliance with statutory
requirements.

3. Certain procedural gaps were observed in documentation and records. Certain sales lacked supporting
documents like E-Way Bills or Delivery Challans, and Goods Inward Reports for purchases were not
provided. Additionally, a Fixed Asset Register was not maintained.

Management Reply:

Outstanding Balance Confirmations

The Company is in the process of obtaining balance confirmations from suppliers and customers. Efforts
are being made to secure confirmations from counterparties where balances remain outstanding, and
adjustments, if any, will be made after reconciliation of such balances.

Documentation and Records

The Company acknowledges the procedural gaps noted. Steps have already been initiated to strengthen
documentation and record maintenance, including ensuring proper availability of supporting documents
such as E-Way Bills, Delivery Challans, and Goods Inward Reports. A Fixed Asset Register is also
being prepared and will be maintained on a regular basis going forward to ensure proper compliance
and internal controls.

Further, Mr. Parth Shah of M/s S. Parth & Co has tendered their resignation from the position of
Statutory Auditor of the company w.e.f 07th October, 2025. The board of directors has appointed M/s
Sarang Shivajirao Chavan & Associates (Firm Registration No 159649W) as the statutory auditor of the
company w.e.f 07/10/2025 subject to the approval of shareholders of the company.

SECRETARIAL AUDITOR:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s PM. Vala
& Associates, Practicing Company Secretary (Certificate of Practice Number: 4237) to undertake the
Secretarial Audit of the Company.

The Company has annexed to this Board''s Report as Annexure II , a Secretarial Audit Report for the Financial
Year 2024-2025 given by the Secretarial Auditor. The Secretarial Audit Report contains qualifications.

Reply from Management

The Company acknowledges the observation made by the Secretarial Auditor regarding the non-compliances.

The non-compliance was inadvertent and occurred due to unavailability of required documents/information
within the prescribed timelines, The Management has taken note of the same and is committed to ensuring
compliance with all applicable laws and regulations.

Corrective actions have been initiated to address the issue, Further, the Company is in the process of
reviewing its internal controls and compliance monitoring mechanism to avoid recurrence of such instances
in future.

The Management assures that it is committed to maintaining the highest standards of corporate governance
and compliance, and every effort is being made to ensure timely and proper adherence to all statutory
obligations.

REPORTING OF FRAUDS BY AUDITORS:

During the year under review, the Statutory Auditors 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 Companies Act, 2013.

LISTING FEES:

Your Company has paid the requisite Annual Listing Fees BSE Limited (Scrip Code: 500389), where its
securities are listed.

KEY MANAGERIAL PERSONNEL:

The following have been designated as the Key Managerial Personnel of the Company pursuant to Sections
2(51) and 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014:

Mr Srinivasan Pattamadai - Chief Executive Officer

Mrs Kshipra Bansal - Company Secretary

The composition of the Board of Directors of the Company is in accordance with the provisions of Section
149 of the Act and Regulation 17 of the Listing Regulations, with an appropriate combination of Executive,
Non-Executive and Independent Directors.

As on 31st March, 2025, the Board of Directors comprises of Five Members, consisting of Three Non¬
Executive & Independent Directors, One Non-Executive and Non Independent Director and One Executive
Director.

RETIREMENT BY ROTATION:

In terms of Section 152 of the Act, Mr. Mosim Sodha retire by rotation at the ensuing Annual General
Meeting (AGM) of the Company and being eligible, has offered for their reappointment.

Mr. Mosim Sodha has consented to act as a director and are not disqualified from being re-appointed as
Director in terms of Sections 164 and 165 of the Act read with applicable rules made thereunder. They are
not debarred from holding the office of Director by virtue of any order issued by SEBI or any other such
authority. They are not related to any Key Managerial Personnel of the Company.

Appointment/Re-appointment

During the financial year, the following are the changes in composition of board of directors of the company.

1. Mr. Yakinkumar Bansilal Joshi (DIN: 10745009) and Mr. Sodha Mosim Abhubakhar (DIN: 10732712)
were appointed as Non-Executive and Non- Independent directors of the company w.e.f 18th August,
2024.

2. Mr. Yakinkumar Bansilal Joshi was redesignated as Managing Director of the company w.e.f 14th
February, 2025.

3. Mr. Chinmay Pradhan (DIN: 10753724) was appointed as Non-Executive and Non- Independent
director of the company w.e.f 27th August, 2024.

4. Mr. Manoj Sambhaji Sawant (DIN: 00384603) was appointed as Executive director of the company w.e.f
18th August, 2024 and tendered their resignation on 13th January, 2025.

5. Mrs. Aarti Singh (DIN: 10288981) was appointed as Non-Executive and Independent director of the
company w.e.f 18th August, 2024.

The changes in composition of the board of director after the closure of financial year is as follows:

1. Mr. Chinmay Pradhan (DIN: 10753724), Mr. Tathagata Sarkar (DIN: 08601775) and Mrs. Nivedita Sen
(DIN: 07796043) tendered their resignation on 07th October,2025.

2. Mr. Nayankumar Patel (DIN No 11149192) and Mr. Rai Sunny Jagapatraj (DIN No 10742820) were
appointed as Additional Non-Executive and Independent Directors w.e.f 07th October, 2025 whose
appointment is subject to the approval of shareholders of the company.

The Director''s report shall be signed solely by Mr Yakin Kumar Joshi , Managing Director and Chairman of
the Company.

DECLARATION OF INDEPENDENCE BY THE INDEPENDENT DIRECTORS:

The Company has received declarations from the Independent Directors of the Company confirming that
they meet the criteria of independence as prescribed both under the Companies Act, 2013 and Listing
Regulations .

The Board is of the opinion that the Independent Directors of the Company hold highest standards of integrity
and possess requisite expertise and experience required to fulfil their duties as Independent Directors.

In terms of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014, The Independent Directors of the Company have confirmed that they
are registered in the Independent Directors data bank maintained by the IICA and unless exempted, have
also passed the online proficiency self-assessment test conducted by IICA.

The Board of the Company, after taking these declarations on record and undertaking due veracity of the
same, concluded that the Independent Directors of the Company are persons of integrity and possess the
relevant expertise, experience and proficiency to qualify as Independent Directors of the Company and are
independent of the Management of the Company.

PERFORMANCE EVALUATION

The performance evaluation of Non-Independent Directors and the Board as a whole, Committees thereof,
Independent Directors and Chairman of the Company was carried out . Pursuant to the provisions of the
Act and the Listing Regulations, the NRC formulated criteria for effective evaluation of the performance of
the Board, its Committees and Individual Directors. Accordingly, the performance evaluation of the Board,
its committees and individual Directors was carried out by the NRC and the Board of Directors. Further,
pursuant to Schedule IV of the Act and Regulation 17(10) of the Listing Regulations, the evaluation of
Independent Directors was done by the Board of Directors.

The NRC at its meeting reviewed the evaluations and the implementation and compliance of the evaluation
exercise done.

All Directors of the Company as on 31st March 2025 participated in the evaluation process. The evaluation
exercise for the financial year, inter-alia, concluded the transparency and free-flowing discussions at
meetings, the adequacy of the Board and its Committee compositions and the frequency of meetings were
satisfactory. Suggestions have been noted for implementation. The Directors expressed their satisfaction
with the evaluation process.

Evaluation of Committees:

Since the Company was suspended on BSE Limited, there were no risk management committee and CSR
Committee during the year but still independent directors evaluated the performance and managed to meet
and discuss the operations and growth of the company.

A separate exercise was carried out by the Governance, Nomination and Remuneration Committee
(“GNRC”) of the Board to evaluate the performance of Individual Directors. The performance evaluation of
the Non-Independent Directors and the Board as a whole was carried out by the Independent Directors. The
performance evaluation of the Chairman of the Board was also carried out by the Independent Directors,
taking into account the views of the Executive Directors and Non-Executive Directors. The performance
evaluation the Executive Director of the Company was carried out by the Chairman of the Board and other
Directors.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS / NON-EXECUTIVE DIRECTORS:

The Members of the Board of the Company are afforded many opportunities to familiarise themselves with
the Company, its Management and its operations. The Directors are provided with all the documents to
enable them to have a better understanding of the Company, its various operations and the industry in which
it operates.

All the Independent Directors of the Company are made aware of their roles and responsibilities at the
time of their appointment through a formal letter of appointment, which also stipulates various terms and
conditions of their engagement.

Executive Directors and Senior Management provide an overview of the operations and familiarize the
new Non-Executive Directors on matters related to the Company''s values and commitments. They are
also introduced to the organization structure, constitution of various committees, board procedures, risk
management strategies, etc.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the requirements of Section 134(3) (c) and 134(5) of the Companies Act, 2013 and on the basis
of explanation and compliance certificate given by the executives of the Company, and subject to disclosures
in the Annual Accounts and also on the basis of discussions with the Statutory Auditors of the Company from
time to time, we state as under:

? That in the preparation of the accounts for the financial period ended 31st March, 2025, the applicable
accounting standards have been followed along with proper explanation relating to material departures;

? That the Directors have selected such accounting policies and applied them consistently and made
judgments and estimates that were 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 of the Company for the
period under review;

? That the Directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with provisions of the Companies Act, 2013 for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;

? That the Directors have prepared the annual accounts for the financial period ended 31st March, 2025
on a ''going concern'' basis.

• The Directors have laid down internal financial controls to be followed by the Company and that such
internal financial controls are adequate and are operating effectively; and

• The Directors have devised proper system to ensure compliance with the provisions of all applicable
laws and that such systems are adequate and operating effectively.

POLICY ON DIRECTORS'' APPOINTMENT AND REMUNERATION:

Your Company has adopted 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.

Policy on Directors'' Appointment

Policy on Directors'' appointment is to follow the criteria as laid down under the Companies Act, 2013 and
the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015. Emphasis is given to persons from diverse fields or professions.

Policy on Remuneration

Guiding Policy on remuneration of Directors, Key Managerial Personnel and employees of the Company is
that -

• There has never been union since incorporation and is not likely to be there in view of cordial relation
with workers. As such the Board felt that there is no need to form policy for unionized workers.

• Remuneration to Key Managerial Personnel, Senior Executives, Managers, Staff and Workmen (non
Unionized) is industry driven in which it is operating taking into account the performance leverage and
factors such as to attract and retain quality talent.

• For Directors, it is based on the shareholders resolutions, provisions of the Companies Act, 2013 and
Rules framed therein, circulars and guidelines issued by Central Government and other authorities from
time to time.

BOARD MEETINGS:

During the Financial Year ended 31st March 2025, Fourteen Board Meetings were held on the following
dates:30.05.2024, 14.08.2024, 18.08.2024, 27.08.2024, 01.09.2024, 18.09.2024, 08.10.2024, 10.10.2024,
14.11.2024, 16.11.2024,27.11.2024, 13.01.2025, 23.01.2025 and 13.02.2025 . For details of meetings of the
Board, please refer to the Corporate Governance Report, which is a part of this Annual Report.

ANNUAL GENERAL MEETING (AGM):

The 32nd AGM of the Company will be held on 26th September, 2024 through Video Conferencing and
Audo visual Mode at 03.00 p.m.

The 33rd AGM of the Company will be held on 31st October, 2025 through Video Conferencing and Audo
visual Mode at 03.00 p.m.

The Independent Directors of your Company often meet before the Board Meetings without the presence of
the Chairman of the Board or the Executive Director or other Non-Independent Directors or Chief Financial
Officer or any other Management Personnel.

These Meetings are conducted in an informal and flexible manner to enable the Independent Directors to
discuss matters pertaining to, inter alia, review of performance of Non-Independent Directors and the Board
as a whole, review the performance of the Chairman of the Company (taking into account the views of the
Executive and Non-Executive Directors), assess the quality, quantity and timeliness of flow of information
between the Company Management and the Board that is necessary for the Board to effectively and
reasonably perform their duties.

The Board usually meet once in the start of financial year, the details of which are given in the Corporate
Governance Report forming part of the Annual Report. The maximum interval between any two meetings
did not exceed 120 days, as prescribed in the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.

Information on the Audit Committee, the Nomination and Remuneration Committee, the Stakeholders''
Relationship Committee, Risk Management Committee and Corporate Social Responsibility Committee and
meetings of those Committees held during the year is given in the Corporate Governance Report.

AUDIT COMMITTEE:

As on 31st March, 2025, the Committee comprises of three Directors viz. Mrs. Nivedita Sen (Chairperson
of the Committee), Mr. Tathagata Sarkar and Mrs. Aarti Singh. All the Members of the Committee are Non¬
Executive Directors and possess strong accounting and financial management knowledge. The Company
Secretary of the Company is the Secretary of the Committee.

All members of the Audit Committee are financially literate and possess accounting and financial management
knowledge. The details of the same are provided in the Corporate Governance Report.

All the recommendations of the Audit Committee were accepted by the Board.

CODE OF CONDUCT:

Your Company has in place, a Code of Conduct for the Board of Directors and Senior Management Personnel,
which reflects the legal and ethical values to which your Company is strongly committed. The Directors and
Senior Management Personnel of your Company have complied with the code as mentioned hereinabove.

The Directors and Senior Management Personnel have affirmed compliance with the Code of Conduct
applicable to them, for the financial year ended 31 March, 2025.

SECRETARIAL STANDARDS:

Your Company is in compliance with the applicable Secretarial Standards, issued by the Institute of Company
Secretaries of India and approved by the Central Government under Section 118(10) of the Act.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTY:

The Company has in place a process for approval of Related Party Transactions and on dealing with Related
Parties. As per the process, necessary details for each of the Related Party Transactions, as applicable,
along with the justification are provided to the Audit Committee in terms of the Company''s

Policy on Materiality of and on Dealing with Related Party Transactions and as required under SEBI Master
Circular Number SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July, 2023. All Related Party Transactions
entered during the year were in the ordinary course of business and on an arm''s length basis.

The Company has not entered into Material Related Party Transactions as per the provisions of the Act and a
confirmation to this effect as required under section 134(3) (h) of the Act is given in Form AOC-2 as Annexure
III, which forms part of this Boards'' Report.

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES
PROVIDED:

Details of Loans given, investments made, guarantees given and securities provided, if any, along with the
purpose for which the loan or guarantee or security is proposed to be utilized by the recipient are provided
in the standalone financial statement forming part of this annual report.

RISK MANAGEMENT:

The Company has laid down a well-defined risk management policy. The Board periodically reviews the
risk and suggests steps to be taken to control and mitigation the same through a proper defined framework.

The Company manages monitors and reports on the principle risks and uncertainties that can impact its
ability to achieve its strategic objectives. The Company''s management systems, organizational structures,
processes, standards, code of conduct and behaviors that governs how the Group conducts the business of
the Company and manages associated risks.

The constitution of Risk Management Committee is not mandatory for your Company as per provisions of
Regulation of 21 of LODR is applicable to the Top 1000 listed entities.

PARTICULARS OF EMPLOYEES:

Information pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, in respect of the employees of the
Company are annexed to this report as ‘Annexure I''.

In terms of provisions of Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, none of the employees
are in receipt of remuneration in excess of the limits set out in the said Rules.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The provisions relating to Corporate Social Responsibility (CSR) under section 135 of the Companies Act,
2013 are not applicable to the Company.

ANNUAL RETURN:

Pursuant to section 134(3)(a) and section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the
Companies (Management and Administration) Rules, 2014, a copy of the Annual Return is placed on the
website of the Company and can be accessed at : www.silverlinetechnology.com.

DEPOSITORY SYSTEM:

Electronic trading of the Company''s Equity Shares has been made compulsory by the Securities & Exchange
Board of India (SEBI) from 30th October, 2000. As on 31st March, 2025, about 99.85% shareholding
representing 15,57,02,016 Equity Shares of the Company has been dematerialized. Your Company has
executed agreements with both NSDL and CDSL for demat of its shares.

INTER-SE TRANSFER OF SHARES AMONG PROMOTERS:

As on 31st March, 2025, there were no inter-se transfer of shares among promoters which is carried out
in compliance with the provision of the Companies Act, 2013 and rules and regulation of SEBI (LODR)
Regulation, 2015.

OTHER DISCLOSURES:

1. No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to
disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy
Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year is not
applicable; and

2. The requirement to disclose the details of difference between amount of the valuation done at the time
of onetime settlement and the valuation done while taking loan from the Banks or Financial Institutions
along with the reasons thereof, is not applicable.

GENERAL:

Your directors state that no disclosure or reporting is required in respect of the following items as there were
no transactions on these items during the year under review:

1. Issue of equity shares with differential rights as to dividend, voting or otherwise.

2. Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

3. Neither the Managing Director nor the Whole-time Directors of the Company receive any remuneration
or commission from any of its subsidiaries.

4. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the
going concern status and Company''s operations in future.

5. There was no instance of fraud during the year under review, which required the Statutory Auditors
to report to the Audit Committee and / or Board under Section 143(12) of the Act and Rules framed
thereunder.

Your directors further state that during the year under review, there were no cases filed pursuant to the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express and place on record their appreciation for the continued
support, cooperation, trust and assistance extended by shareholders, employees, customers, principals,
vendors, agents, bankers, financial institutions, suppliers, distributors and other stakeholders of the Company.

For and on behalf of the Board

Yakinkumar Joshi
Managing Director
DIN:10745009

Place: Mumbai

Date: 08th October, 2025

Registered Office:

Unit no 509, 5th Floor, Centrum IT Park, Wagle Industrial Estate,

Thane West, Wagle I.E., Maharashtra, India, 400604
CIN: L46209MH1992PLC066360
E-mail: [email protected]
Website: www.silverlinetechnology.com

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Mar 31, 2024

Your directors are pleased to present their Report together with the audited financial statements of your Company for the year ended 31st March, 2024.

SUMMARISED FINANCIAL RESULTS:

The summarized financial results are given below:

(In Lakhsi

Particulars	2023-2024	2022-2023
	Standalone	Standalone
Revenue from Operations	1,72,21,000	3,55,98,000
Other Income	-	-
Total Income Expenses	1,72,21,000	3,55,98,000
Operating Expenditure	-	53,19,000
Changes in inventories of finished goods and work-in-process and stock-in-trade	-	-
Employee benefits expenses	18,77,000	17,60,000
Depreciation and amortization expense	5,60,000	5,60,000
Finance Cost	16,712	1,60,18,870
Other expenses	1,45,77,492	91,45,291
Profit / (loss) from operations before extra ordinary items and tax	1,89,795	27,94,839
Extraordinary Items	-	3,88,041
Profit/(loss) after Extraordinary Items and before tax	1,89,795	31,82,880
Tax Expense: Current Tax	75,000	-
Deferred tax (credit) /charge	-	-
lncome-Tax of Earlier Year	-	-
Net Profit / (loss) for the period	1,14,795	31,82,880

BUSINESS OUTLOOK:

The Companies growth considering the past few years'' performance has declined. The Company is striving hard for increasing profits from year to year. The total revenue from the operations for the year ended March 31, 2024 amounted to '' 1.72 Crores and the profit of '' 1.89 lakhs for year ended March''2024.

DETAILS OF MATERIAL CHANGES FROM THE END OF THE FINANCIAL YEAR TILL THE DATE OF THIS REPORT:

No material changes and commitments have occurred after the closure of the Financial Year 2023-2024 till the date of this Report, which would affect the financial position of your Company.

We hope with constant monitoring, your Company will be able to achieve better revenue in next year. TRADING APPROVAL

The Company was suspended from trading on Stock Exchange due to penal reason with effect from 20th April, 2012. After several years and efforts, the management of the Company has recently identified proposals to revive the business of the Company. The Company had made an application to Stock Exchange for trading approval for which the trading permission was received from BSE Limited on 16th August, 2024 vide letter dated 08th August, 2024.

SUBSIDIARY OF THE COMPANY:

The Company does not have any Subsidiary as on 31st March, 2024.

The preparation of consolidated financial statement is not applicable to the company as there is no subsidiary. DIVIDEND:

The Board of Directors after considering various factors including expansion and to conserve resources, has deemed it prudent not to recommend any final dividend on equity shares for the year ended 31st March, 2024.

TRANFSER TO RESERVES:

The Board of Directors of the Company has not recommended transfer of any amount to the General Reserve for the Financial Year ended March 31, 2024.

SHARE CAPITAL:

The Paid up Equity Share Capital of the Company as on March 31, 2024 was '' 5,99,85,488 divided into 59,98,54,880 Equity shares having face value of '' 10 each. During the year under review, the Company has not issued any shares with differential rights, sweat equity shares and equity shares under Employees Stock Option Scheme.

HEALTH, SAFETY AND ENVIRONMENT:

There is no plant site of company and no insurance cover taken for the plant site.

There are no details available for insurance cover of the company''s office premises.

PUBLIC DEPOSITS:

The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement for furnishing of details of deposits which are not in compliance with the Chapter V of the Act is not applicable.

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

Particulars in respect of conservation of energy, technology absorption and foreign exchange earnings and outgo, as required under Section 134(3) (m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 are set out as follows.

The Company constantly takes effective steps to attain energy conservation.

The Company does not employ any foreign technology which needs absorption or adaptation.

Relevant figures of foreign exchange earnings and outgo are given in notes to accounts paragraph annexed to the financial statements.

SEGMENT REPORTING:

Your Company''s main business is “Polymer Processing” and all other activities of the company revolve around this main business. As such there are no separate reportable segments within the Company and hence, the segment wise reporting as defined in Ind AS 108 - Operating Segments (Accounting Standards 17) is not applicable to the Company.

CHANGE IN THE NATURE OF BUSINESS, IF ANY:

There was no change in the nature of business of your Company during the Financial Year ended 31st March, 2024.

INTERNAL FINANCIAL CONTROLS:

The Corporate Governance Policies guide the conduct of affairs of your Company and clearly delineate the roles, responsibilities and authorities at each level of its governance structure and key functionaries involved in governance. The Code of Conduct for Senior Management and Employees of your Company (the Code of Conduct) commits Management to financial and accounting policies, systems and processes. The Corporate Governance Policies and the Code of Conduct stand widely communicated across your Company at all times.

Your Company''s Financial Statements are prepared on the basis of the Significant Accounting Policies that are carefully selected by Management and approved by the Audit Committee and the Board. These Accounting policies are reviewed and updated from time to time.

CORPORATE GOVERNANCE:

Your Company has a rich legacy of ethical governance practices many of which were implemented by the Company, even before they were mandated by law. A Report on Corporate Governance along with a Certificate from Practicing Company Secretaries, regarding compliance with the conditions of Corporate Governance as stipulated under Schedule V of the Listing Regulations forms part of this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

A detailed analysis of your Company''s performance is discussed in the Management Discussion and Analysis Report, which forms part of this Annual Report.

WHISTLE BLOWER POLICY/ VIGIL MECHANISM:

The Company has established a vigil mechanism by adopting a Whistle Blower Policy for stakeholders including directors and employees of the Company and their representative bodies to freely report / communicate their concerns / grievances about illegal or unethical practices in the Company, actual or suspected, fraud or violation of the Company''s Code or Policies. The vigil mechanism is overseen by the Audit Committee and provides adequate safeguards against victimization of stakeholders who use such mechanism.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE:

The Company has Zero Tolerance towards sexual harassment at the workplace and has adopted a Policy for Prevention of Sexual Harassment in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (“POSH Act”) to provide a safe, secure and enabling environment, free from sexual harassment. The Committee have been constituted to redress complaints of sexual harassment and the Company has complied with the provisions relating

to the constitution of committee under the Act.

During the year the Company received NIL complaints. As on this date of this report, there are no complaints received by/ pending with the Company under POSH Act.

AUDITORS:

STATUTORY AUDITORS AND AUDITORS'' REPORT:

The second term of appointment of M/s. JMT Associates, Chartered Accountants, Mumbai (Firm Reg no.104167W) as Statutory auditors of the company shall expire from the date of conclusion of this Annual General Meeting. He cannot continue as the Statutory Auditor for the next term as per the provisions of Companies Act, 2013 therefore the board decided to appoint new auditor in his place.

After evaluating and considering various factors such as industry experience, competency of the audit team, efficiency in conduct of audit, independence, etc and on account of casual vacancy arises due to expiry of term of M/s. JMT Associates , Chartered Accountants the Board of Directors of the Company (''Board'') has, based on the recommendation of the Audit Committee, proposed the appointment of Mr Parth Shah of M/s S. Parth & Co (Firm Registration No 154463W ), as the Statutory Auditors of the Company, for the term of three years from the conclusion of this AGM till the conclusion of the Thirty Fifth AGM of the Company to be held in the year 2027, at a remuneration as may be mutually agreed between the Board and the Statutory Auditors.

Further, the Auditors'' Report given by M/s. JMT Associates for FY 2023-2024 is Qualified .

The following are the qualifications given by the Statutory Auditor and the reply by the management is given below:

a) Sufficient and appropriate audit evidences with respect to the addition of '' 10.05 Crores to ''Supply Chain Services'' assets under Intelligible Fixed Assets of the Company have not been made available to us.

Reply from Management -

The Current practice of debits to the CWIP account being done through the Journal entries is the cause for this observation.In order to make available complete detail information we have from the current year mandate opening of Sub Ledger accounts where the expenses incurred would be initially booked with all the details and from these accounts these will be transferred to the CWIP accounts. This will ensure that the CWIP account carry all the details as part of the account.

b) Confirmations of Sundry Debtors, Loans & Advances given and Sundry Creditors (including squired-up accounts during the year) have not made available to us.

Reply from Management -

The Company operates low staffs who deals with variety of tasks. Most of the accounting work is outsourced and given these limitations we were unable to provide the required information in time to the Auditors. The Company''s business will be normalcy soon and we will have full team of support staff to address such matters on priority.

c) Cancellation of Company''s registration under Goods & Service Tax Act, 2017 has not been restored back and the possible liabilities of GST on Company''s turnover is not determined and is not provided in the Books of Account.

Reply from Management -

The Company has applied for revocation of suspension with Central GST office and will be received shortly.

SECRETARIAL AUDITOR:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Mr. Ritesh Sharma, Practicing Company Secretary (Certificate of Practice Number: 20742) to undertake the Secretarial Audit of the Company.

Due to personal reason and pre-occupations in other assignments, they tendered their resignation w.e.f 25.04.2024. In his place, Mr Abhishek Sanjay Singh (Mem No. F12546, C. P. No.: 12509) were appointed as Secretarial Auditors of the Company to conduct the secretarial audit for FY 2023-2024 w.e.f 25/05/2024.

The Company has annexed to this Board''s Report as Annexure II , a Secretarial Audit Report for the Financial Year 2023-24 given by the Secretarial Auditor.

REPORTING OF FRAUDS BY AUDITORS:

During the year under review, the Statutory Auditors 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 Companies Act, 2013.

LISTING FEES:

Your Company has paid the requisite Annual Listing Fees BSE Limited (Scrip Code: 500389), where its securities are listed.

KEY MANAGERIAL PERSONNEL:

The following have been designated as the Key Managerial Personnel of the Company pursuant to Sections 2(51) and 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

Mrs Kshipra Bansal - Company Secretary

DIRECTORS:

The composition of the Board of Directors of the Company is in accordance with the provisions of Section 149 of the Act and Regulation 17 of the Listing Regulations, with an appropriate combination of Executive, Non-Executive and Independent Directors.

As on 31st March, 2024, the Board of Directors comprises of Five Members, consisting of Three NonExecutive & Independent Directors and Two Executive Directors.

RETIREMENT BY ROTATION:

In terms of Section 152 of the Act, Mr.Srinivasan Sitapati Pattamadai retire by rotation at the ensuing Annual General Meeting (AGM) of the Company and being eligible, has offered for their reappointment.

Mr.Srinivasan Sitapati Pattamadai has consented to act as a director and are not disqualified from being reappointed as Director in terms of Sections 164 and 165 of the Act read with applicable rules made thereunder. They are not debarred from holding the office of Director by virtue of any order issued by SEBI or any other such authority. They are not related to any Key Managerial Personnel of the Company.

Appointment/Re-appointment

During the financial year 2023-2024 there were no changes in composition of board of directors of the company.

The following are the recent changes after the closure of financial year

1. Mr. Yakinkumar Bansilal Joshi (DIN: 10745009) and Mr. Sodha Mosim Abhubakhar (DIN: 10732712) were appointed as Additional Non-Executive and Non- Independent directors of the company w.e.f 18th August, 2024.

2. Mr. Chinmay Pradhan (DIN: 10753724 was appointed as Additional Non-Executive and NonIndependent director of the company w.e.f 27th August, 2024.

3. Mr. Manoj Sambhaji Sawant (DIN: 00384603) was appointed as Additional Executive and NonIndependent director of the company w.e.f 18th August, 2024.

4. Mrs. Aarti Singh (DIN: 10288981) was appointed as Additional Non-Executive and Independent director of the company w.e.f 18th August, 2024.

5. Mr Tahir Masalawala has been disqualified as a director due to de-activation of his DIN Number. Therefore, he is automatically removed from the post of director of the company rpursuant to the relevant provisions of Companies Act, 2013.

6. The board expressed their deep condolences at the demise of Mr Ravi Subramaniam, Director of the company and took note of it in the board meeting held on 27th August, 2024

SIGNING OF DIRECTORS REPORT

The Director''s report shall be signed solely by Mr Srinivasan Pattamadai , Managing Director and Chairman of the Company as there is only one Executive Director and the other Executive Director ,Mr Ravi Subramanian passed away on 23rd April, 2024.

DECLARATION OF INDEPENDENCE BY THE INDEPENDENT DIRECTORS:

The Company has received declarations from the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed both under the Companies Act, 2013 and Listing Regulations except Mr Tahir Masalawala , Independent Director of the Company .

The company has not received the declaration of Independence from Mr Tahir Masalawala. Independent Director of the company.

The Board is of the opinion that the Independent Directors of the Company hold highest standards of integrity and possess requisite expertise and experience required to fulfil their duties as Independent Directors.

In terms of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, The Independent Directors of the Company have confirmed that they are registered in the Independent Directors data bank maintained by the IICA and unless exempted, have also passed the online proficiency self-assessment test conducted by IICA.

The company has not received the Independent Databank Registration Certificate from Mr Tahir Masalawala. Independent Director of the company.

The Board of the Company, after taking these declarations on record and undertaking due veracity of the same, concluded that the Independent Directors of the Company are persons of integrity and possess the relevant expertise, experience and proficiency to qualify as Independent Directors of the Company and are independent of the Management of the Company.

PERFORMANCE EVALUATION

The performance evaluation of Non-Independent Directors and the Board as a whole, Committees thereof, Independent Directors and Chairman of the Company was carried out . Pursuant to the provisions of the Act and the Listing Regulations, the NRC formulated criteria for effective evaluation of the performance of the Board, its Committees and Individual Directors. Accordingly, the performance evaluation of the Board, its committees and individual Directors was carried out by the NRC and the Board of Directors. Further, pursuant to Schedule IV of the Act and Regulation 17(10) of the Listing Regulations, the evaluation of Independent Directors was done by the Board of Directors.

The NRC at its meeting reviewed the evaluations and the implementation and compliance of the evaluation exercise done.

All Directors of the Company as on 31st March 2024 participated in the evaluation process. The evaluation exercise for the financial year, inter-alia, concluded the transparency and free-flowing discussions at meetings, the adequacy of the Board and its Committee compositions and the frequency of meetings were satisfactory. Suggestions have been noted for implementation. The Directors expressed their satisfaction with the evaluation process.

Evaluation of Committees:

Since the Company was suspended on BSE Limited, there were no risk management committee and CSR Committee during the year but still independent directors evaluated the performance and managed to meet and discuss the operations and growth of the company.

Evaluation of Directors and Board:

A separate exercise was carried out by the Governance, Nomination and Remuneration Committee (“GNRC”) of the Board to evaluate the performance of Individual Directors. The performance evaluation of the Non-Independent Directors and the Board as a whole was carried out by the Independent Directors. The performance evaluation of the Chairman of the Board was also carried out by the Independent Directors, taking into account the views of the Executive Directors and Non-Executive Directors. The performance evaluation the Executive Director of the Company was carried out by the Chairman of the Board and other Directors.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS / NON-EXECUTIVE DIRECTORS:

The Members of the Board of the Company are afforded many opportunities to familiarise themselves with the Company, its Management and its operations. The Directors are provided with all the documents to enable them to have a better understanding of the Company, its various operations and the industry in which it operates.

All the Independent Directors of the Company are made aware of their roles and responsibilities at the time of their appointment through a formal letter of appointment, which also stipulates various terms and conditions of their engagement.

Executive Directors and Senior Management provide an overview of the operations and familiarize the new Non-Executive Directors on matters related to the Company''s values and commitments. They are also introduced to the organization structure, constitution of various committees, board procedures, risk management strategies, etc.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the requirements of Section 134(3) (c) and 134(5) of the Companies Act, 2013 and on the basis of explanation and compliance certificate given by the executives of the Company, and subject to disclosures in the Annual Accounts and also on the basis of discussions with the Statutory Auditors of the Company from time to time, we state as under:

- That in the preparation of the accounts for the financial period ended 31st March, 2024, the applicable accounting standards have been followed along with proper explanation relating to material departures;

- That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the Company for the period under review;

- That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

- That the Directors have prepared the annual accounts for the financial period ended 31st March, 2024 on a ''going concern'' basis.

- The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

- The Directors have devised proper system to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

POLICY ON DIRECTORS'' APPOINTMENT AND REMUNERATION:

Your Company has adopted 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.

Policy on Directors'' Appointment

Policy on Directors'' appointment is to follow the criteria as laid down under the Companies Act, 2013 and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Emphasis is given to persons from diverse fields or professions.

Policy on Remuneration

Guiding Policy on remuneration of Directors, Key Managerial Personnel and employees of the Company is that -

• There has never been union since incorporation and is not likely to be there in view of cordial relation with workers. As such the Board felt that there is no need to form policy for unionized workers.

• Remuneration to Key Managerial Personnel, Senior Executives, Managers, Staff and Workmen (non Unionized) is industry driven in which it is operating taking into account the performance leverage and factors such as to attract and retain quality talent.

• For Directors, it is based on the shareholders resolutions, provisions of the Companies Act, 2013 and Rules framed therein, circulars and guidelines issued by Central Government and other authorities from time to time.

BOARD MEETINGS:

During the Financial Year ended 31st March 2024, five Board Meetings were held on the following dates: 28th May, 2023,14th July, 2023, 09th November, 2023, 05th February, 2024 and 25th March, 2024. For details of meetings of the Board, please refer to the Corporate Governance Report, which is a part of this Annual Report.

ANNUAL GENERAL MEETING (AGM):

The 31st AGM of the Company was held on 22nd February, 2024 through Video Conferencing and Audo visual Mode at 03.00 p.m.

The 32nd AGM of the Company will be held on 26th September, 2024 at 09.00 a.m. through Video Conferencing and Audo visual Mode at 03.00 p.m.

MEETINGS OF INDEPENDENT DIRECTORS:

The Independent Directors of your Company often meet before the Board Meetings without the presence of the Chairman of the Board or the Executive Director or other Non-Independent Directors or Chief Financial Officer or any other Management Personnel.

These Meetings are conducted in an informal and flexible manner to enable the Independent Directors to discuss matters pertaining to, inter alia, review of performance of Non-Independent Directors and the Board as a whole, review the performance of the Chairman of the Company (taking into account the views of the Executive and Non-Executive Directors), assess the quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

The Board usually meet once in the start of financial year, the details of which are given in the Corporate Governance Report forming part of the Annual Report. The maximum interval between any two meetings did not exceed 120 days, as prescribed in the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Information on the Audit Committee, the Nomination and Remuneration Committee, the Stakeholders'' Relationship Committee, Risk Management Committee and Corporate Social Responsibility Committee and meetings of those Committees held during the year is given in the Corporate Governance Report.

AUDIT COMMITTEE:

As on 31st March, 2024, the Committee comprises of three Directors viz. Mrs. Nivedita Sen (Chairperson of the Committee), Mr. Tathagata Sarkar and Mr. Tahir Masalawala. All the Members of the Committee are NonExecutive Directors and possess strong accounting and financial management knowledge. The Company Secretary of the Company is the Secretary of the Committee.

All members of the Audit Committee are financially literate and possess accounting and financial management knowledge. The details of the same are provided in the Corporate Governance Report.

All the recommendations of the Audit Committee were accepted by the Board.

CODE OF CONDUCT:

Your Company has in place, a Code of Conduct for the Board of Directors and Senior Management Personnel, which reflects the legal and ethical values to which your Company is strongly committed. The Directors and Senior Management Personnel of your Company have complied with the code as mentioned hereinabove.

The Directors and Senior Management Personnel have affirmed compliance with the Code of Conduct applicable to them, for the financial year ended 31 March, 2024.

SECRETARIAL STANDARDS:

Your Company is in compliance with the applicable Secretarial Standards, issued by the Institute of Company Secretaries of India and approved by the Central Government under Section 118(10) of the Act.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTY:

The Company has in place a process for approval of Related Party Transactions and on dealing with Related Parties. As per the process, necessary details for each of the Related Party Transactions, as applicable, along with the justification are provided to the Audit Committee in terms of the Company''s

Policy on Materiality of and on Dealing with Related Party Transactions and as required under SEBI Master Circular Number SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July, 2023. All Related Party Transactions entered during the year were in the ordinary course of business and on an arm''s length basis.

The Company has not entered into Material Related Party Transactions as per the provisions of the Act and a confirmation to this effect as required under section 134(3) (h) of the Act is given in Form AOC-2 as Annexure III, which forms part of this Boards'' Report.

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED:

Details of Loans given, investments made, guarantees given and securities provided, if any, along with the purpose for which the loan or guarantee or security is proposed to be utilized by the recipient are provided in the standalone financial statement forming part of this annual report.

RISK MANAGEMENT:

The Company has laid down a well-defined risk management policy. The Board periodically reviews the risk and suggests steps to be taken to control and mitigation the same through a proper defined framework.

The Company manages monitors and reports on the principle risks and uncertainties that can impact its ability to achieve its strategic objectives. The Company''s management systems, organizational structures, processes, standards, code of conduct and behaviors that governs how the Group conducts the business of the Company and manages associated risks.

The constitution of Risk Management Committee is not mandatory for your Company as per provisions of Regulation of 21 of LODR is applicable to the Top 1000 listed entities.

PARTICULARS OF EMPLOYEES:

Information pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, in respect of the employees of the Company are annexed to this report as ''Annexure I''.

In terms of provisions of Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, none of the employees are in receipt of remuneration in excess of the limits set out in the said Rules.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The provisions relating to Corporate Social Responsibility (CSR) under section 135 of the Companies Act, 2013 are not applicable to the Company.

ANNUAL RETURN:

Pursuant to section 134(3)(a) and section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, a copy of the Annual Return is placed on the website of the Company and can be accessed at : www.silverlinetechnology.com.

DEPOSITORY SYSTEM:

Electronic trading of the Company''s Equity Shares has been made compulsory by the Securities & Exchange Board of India (SEBI) from 30th October, 2000. As on 31st March, 2024, about 99.62% shareholding representing 5,97,58,958 Equity Shares of the Company has been dematerialized. Your Company has executed agreements with both NSDL and CDSL for demat of its shares.

INTER-SE TRANSFER OF SHARES AMONG PROMOTERS:

As on 31st March, 2024, there were no inter-se transfer of shares among promoters which is carried out in compliance with the provision of the Companies Act, 2013 and rules and regulation of SEBI (LODR) Regulation, 2015.

OTHER DISCLOSURES:

1. No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year is not applicable; and

2. The requirement to disclose the details of difference between amount of the valuation done at the time of onetime settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof, is not applicable.

GENERAL:

Your directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

1. Issue of equity shares with differential rights as to dividend, voting or otherwise.

2. Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

3. Neither the Managing Director nor the Whole-time Directors of the Company receive any remuneration or commission from any of its subsidiaries.

4. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Company''s operations in future.

5. There was no instance of fraud during the year under review, which required the Statutory Auditors to report to the Audit Committee and / or Board under Section 143(12) of the Act and Rules framed thereunder.

Your directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to express and place on record their appreciation for the continued support, cooperation, trust and assistance extended by shareholders, employees, customers, principals, vendors, agents, bankers, financial institutions, suppliers, distributors and other stakeholders of the Company.

For and on behalf of the Board

Srinivasan Pattamadai Managing Director DIN:06938100

Place: Mumbai Date: 27th August, 2024

Registered Office:

Unit 121, SDF IV, Seepz,

Andheri (E), Mumbai,

Maharashtra, 400096 CIN: L99999MH1992PLC066360 E-mail: [email protected] Website: www.silverlinetechnology.com

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Jun 30, 2011

The Directors are pleased to present you the Nineteenth Annual Report with the Audited Accounts for the fiscal year from 1st July 2010 to 30th June 2011.

Financial Results - Consolidated

Particulars (in consolidated Year Ended Year Ended figures) 1/7/2010 to 1/7/2009 to 30/6/2011 30/6/2010

Rs. In million Rs. In million

Income 607.37 800.47

Total Income gross Profit 47.65 80.78 (PBDIT)

Depreciation 3.90 4.77

Preliminary and Deferred 0 4.55 Revenue Expenses

Profit before Taxes 31.74 66

Less: provision for 5.86 4.95 Taxation

Net profit/Loss 25.88 61.06

Profit available for 93.45 29.52 appropriation- brought Forward

Profit available for 119.33 93.45 appropriation

Share Capital 599.85 599.85

Reserve Account 951.42 924.23

Less: Miscellaneous 0 - Expenses (deferred)

TOTAL 1,551 1,524

Performance (Consolidated)

Your Company has been performing satisfactory. During the year your company has reported revenues at 607.37million Rupees.

The Post-tax profit during the period down substantially to Rs.31.74 million Rupees approximately as compared to the previous year.

The review of the performance for the period ended 30th June, 2011 and the business outlook of the company is included in section on Management Discussion and Analysis included in Annexure "C" to this report.

Fixed Deposits:

Your Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as of the balance sheet date.

Directors:

Mr. Krishnakumar Subramanian and Dr. Narayan Raman retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

Auditors:

The Auditors M/s. CNGSN & Associates, Chartered Accountants, Chennai retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re- appointed.

Directors Responsibility Statement:

Your Directors confirm:

i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that they had 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 or loss of the company for that period 30th June 2011.

iii) that they had 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;

iv) that they had prepared the annual accounts on a going concern basis

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges, a report on Corporate Governance is given in Annexure Management Discussion and Analysis

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges, a section on management discussion and analysis is given in Annexure

Employee Particulars

Particulars of employees as required under section 217(2A) of the Companies Act, 1956, and the Companies (Particulars of Employee) Rules, 1975, as amended, forms part of this report.

However, in pursuance of section 219(a)(b)(iv) of the Companies Act, 1956, this report is being sent to all the shareholders of the Company excluding the aforesaid information. The members interested in obtaining such particulars may write to the Chairman at the Registered Office of the Company.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo The particulars as prescribed under section 217(1 )(e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, are set out in Annexure "A" included in this report.

Acknowledgements

Your directors place on record their appreciation of the support extended by Customers, Investors, Bankers, Business Associates, Vendors, Share Holder's and various Government Agencies. Your directors would also like to place on record the contribution made by the employees / consultants who have together contributed for the success of your Company.

On behalf of the Board of Directors

Mohan Subramanian Whole time Director

Mumbai, 29th February 2012

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Jun 30, 2010

The Directors are pleased to present you the Second Annual Report with the Audited Accounts for the fiscal year from 1 st July 2009 to 30th June 2010.

Financial Results

Particulars (in consolidated figures) Year Ended 1/7/2009 Year Ended 1/7/2008 to 30/6/2010 to 30/6/2009 Rs. In million Rs. In million

Income 800.47 899.7

Total Income gross Profit (PBDIT) 80.78 -64.89

Depreciation 4.77 5.25

Preliminary and Deferred Revenue Expenses 4.55 4.78

Profit before Taxes 66 -80.1

Less: provision for Taxation 4.95 1.96

Net profit/Loss 61.06 -82.06

Profit available for appropriation- brought Forward 29.52 141.99

Profit available for appropriation 93.45 29.52

Share Capital 599.85 599.85

Reserve Account 924.23 855.29

Less: Miscellaneous Expenses (deferred) - 4.5

TOTAL 1,524 1450

Performance

Your Company has been performing satisfactory. During the year your company has reported revenues at 800.47 million.

The Post-tax profit during the period increased substantially to Rs. 61.06 million approximately as compared to the previous year ended June 30, 2010.

The review of the performance for the period ended June 30, 2010 and the business outlook of the company is included in section on Management Discussion and Analysis included in Annexure "C" to this report.

Fixed Deposits:

Your Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as of the balance sheet date.

Directors:

Mr. Ravi Subramanian retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

Mr. Mohan Subramanian Wholetime Director retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

Auditors:

The Auditors M/s. CNGSN & Associates, Chartered Accountants, Chennai retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed.

Directors Responsibility Statement:

Your Directors confirm:

i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that they had 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 or loss of the company for that period 30th June 2010.

iii) that they had 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;

iv) that they had prepared the annual accounts on a going concern basis

Corporate Governance:

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges, a report on Corporate Governance is given in Annexure "B"

Management Discussion and Analysis

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges, a section on management discussion and analysis is given in Annexure "C"

Employee Particulars

Particulars of employees as required under section 217(2A) of the Companies Act, 1956, and the Companies (Particulars of Employee) Rules, 1975, as amended, forms part of this report.

However, in pursuance of section 219(a)(b)(iv) of the Companies Act, 1956, this report is being sent to all the shareholders of the Company excluding the aforesaid information. The members interested in obtaining such particulars may write to the Chairman at the Registered Office of the Company.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The particulars as prescribed under section 217(1 )(e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, are set out in Annexure "A" included in this report.

Acknowledgements

Your directors place on record their appreciation of the support extended by Customers, Investors, Bankers, Business Associates, Vendors, Share Holders and various Government Agencies. Your directors would also like to place on record the contribution made by the employees / consultants who have together contributed for the success of your Company.

On behalf of the Board

Mumbai, Mohan Subramanian

27th January 2011 Wholetime Director