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Deposit During the year under review, your Company did not accept any deposits in terms of Section
73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014. Therefore the requirement for furnishing of details of deposits which are not in compliance with the Chapter V of the Companies Act, 2013 is not applicable. Particulars of Contracts or Arrangements with Related Parties Section 188 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 specifies the requirement for approval of the Board and/or the Members, as and when applicable in related party transactions inrelation to contracts/arrangements. During the year under review the Company has not entered into related party transactions as per the provisions of Section 188 of the Companies Act, 2013. Thus disclosure in Form AOC-2 is not required. Further there are no materially significant related party transactions during the year under review made by the Company with Promoters, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company. The Company has formulated a related party transactions policy and the same isdisplayed on the website of the Company viz. http://www.hindcommerce.com/pdf/policy-on-relatedparty-transaction-and- materiality-of-related-party-transaction.pdf. Particulars of Loans, Guarantees and Investments Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of the notes to the financial statements provided in this Annual Report. Board of Directors and Key Managerial Personal The Board of Directors of the company has an optimum combination of Executive, NonExecutive, and Independent Directors who have an in-depth knowledge of business, in addition to the expertise in their areas of specialization. As on March 31, 2024, the Board of the Company comprised of Five directors that include two Independent Women Director. All the members of the Board are persons with considerable experience and expertise in the
