Silverline Technologies Limited Unlisted Shares Annual Reports

Silverline Technologies Limited Unlisted Shares

Silverline Technologies Limited Annual Report Summary: **Submission of Revised Annual Report:** Silverline Technologies Limited submitted a revised annual report for the financial year 2023-2024 to the BSE Limited due to a minor typographical error in the Corporate Information Page and Director's Report. The company already submitted the Annual Report for the Financial Year 2023-2024 and states that there is no change in the Annual Report other than Corporate Information Page and Director's Report. The revised Annual Report is available on the RTA's and Company's website: www.silverlinetechnology.com. **Corporate Information:** * **Board of Directors:** The board consists of Mr. Srinivasan Pattamadai (Managing Director), Late Mr. Ravi Subramanian (Executive Director until 23/04/2024), Mr. Tathagata Sarkar, Mrs. Nivedita Sen, Mr. Tahir Masalawala (up to 18/08/2024) as Non-Executive & Independent Directors. Additions to the board include Mr. Yakinkumar Bansilal Joshi, Mr. Sodha Mosim Abhubakhar (w.e.f 18/08/2024), Mr. Chinmay Pradhan (w.e.f 27/08/2024) as Additional Non-Executive & Non Independent Directors, Mr. Manoj Sambhaji Sawant (w.e.f 18/08/2024) as Additional Executive Director and Mrs. Aarti Singh (w.e.f 18/08/2024) as Additional Non-Executive & Independent Director. * **Key Managerial Personnel:** Mrs. Kshipra Bansal is the Company Secretary & Compliance Officer. * **Statutory Auditors:** M/s. JMT & Associates are the Chartered Accountants. M/s Mandar K Patil & Co (w .e. f 27/08/2024) are the Internal Auditors. * **Secretarial Auditors:** Mr. Ritesh Sharma, Mr. Abhishek Sanjay Singh (w e f 25/05/2024 to 27/08/2024) and M/s. P.M.Vala & Associates, PCS (w.e.f 27/08/2024). * **Registered Office:** The registered office is located at Unit 121, SDF IV, Seepz, Andheri (E), Mumbai, Maharashtra, 400096, with website www.silverlinetechnology.com. * **Listed on Stock Exchange:** BSE Limited * **Registrar & Share Transfer Agents:** LINK INTIME INDIA PRIVATE LIMITED **Notice of 32nd Annual General Meeting (AGM):** The 32nd AGM of Silverline Technologies Limited will be held on Thursday, September 26, 2024, at 03:00 p.m. via Video Conferencing (VC)/ Other Audio-Visual Means (OAVM). **Ordinary Business:** * Receive, consider, and adopt the Audited Standalone Financial Statements for the year ended March 31, 2024, along with the Board of Directors' and Statutory Auditor's reports. * Appoint a director in place of Mr. Srinivasan Pattamadai, who retires by rotation and is eligible for re-appointment. * Appointment of Statutory Auditors: Appoint Mr Parth Shah of M/s S. Parth & Co, Chartered Accountants as the Statutory Auditors of the Company for a period of three years starting from Financial year 2024-2025 and they shall hold office from the conclusion of this 32nd Annual General Meeting till the conclusion of the 35th Annual General Meeting to be held in the year 2027. **Special Business:** * **Preferential Issue:** Offer, issue, and allot up to 9,80,00,000 (Nine Crore Eighty Lakhs Only) Equity Shares of face value of Rupees 10/- each, on a preferential basis (“Preferential Issue”), to the Proposed Allottees as stated herein below, at an issue price of `10/- (Rupees Ten only) per equity share (at price arrived on basis of valuation report), aggregating up to `98,00,00,000/- (Rupees Ninety Eight Crore only), and upon such terms and conditions as may be deemed appropriate by the Board in accordance with the relevant provisions of SEBI ICDR Regulations, or other applicable laws in this regard. The relevant date for determining the floor price of Equity Shares is set as Tuesday, August 27, 2024.The Equity Shares to be allotted shall be locked in for such period as specified in the provisions of Chapter V of the SEBI ICDR Regulations. **Proposed Allottees for Preferential Issue:** * Mr. Vikram Chaudhari: 1,59,90,334 Equity Shares * Mr. Gokalbhai Chaudhari: 1,59,90,334 Equity Shares * Mr. Nirav Dineshbhai: 1,59,90,333 Equity Shares * Mr. Ronakkumar Chaudhari: 1,59,90,333 Equity Shares * Mr. Jesingbhai Chaudhari: 1,59,90,333 Equity Shares * Ms. Lilaben Desai: 1,59,90,333 Equity Shares * Mr. Milind Patil: 10,58,000 Equity Shares * Ms. Neeta Mehta: 10,00,000 Equity Shares * The Equity Shares to be allotted shall be fully paid up and rank pari passu with the existing Equity Shares of the Company in all respects (including with respect to dividend and voting powers) from the date of allotment thereof. **Appointment of Directors:** * To consider an appointment of Mr. Yakinkumar Bansilal Joshi (DIN: 10745009), Mr. Sodha Mosim Abhubakhar (DIN: 10732712), Mr. Chinmay Pradhan (DIN: 10753724), Mrs. Aarti Singh (DIN: 10288981) as a Non-Executive, Non-Independent Director. And Mr. Manoj Sambhaji Sawant (DIN: 00384603) as an Executive, Non-Independent Director. **Other Resolutions:** * Approve the continuation of Mr Srinivasan Pattamadai (DIN: 06938100) as a Chairman, Managing Director of the Company. * Approve for increase in overall borrowing limits of the company as per Section 180 (1) (c) of the companies act, 2013. The total amount so borrowed (apart from the temporary loans obtained from the Company's bankers in the ordinary course of business) shall not exceed at any point in time a sum equivalent to `500 crore/- (Rupees Five Hundred Crore Only) by way of fund based facilities and `500 Crores (Five Hundred Crores Only) by way of non-fund-based facilities over and above the aggregate, of the paid-up share capital and free reserves of the Company." * Approval for making investment or acquisition as per Section 186 of the companies act, 2013. **Closure of Register of Members and Cut-off Date:** * The Register of Members will remain closed from Thursday, 19th September, 2024 to Thursday, 26th August, 2024 (both days inclusive). The cut-off date is Thursday, 19th August, 2024. **E-Voting and Virtual Meeting Instructions:** * The AGM will be conducted through VC/OAVM due to the COVID-19 pandemic. Remote e-voting is available to members. Facility for participation at the AGM through VC/OAVM will be made available to atleast 1000 members on first come first served basis. * Members holding shares either in physical or dematerialized mode, as on cut-off date, i.e. September 19, 2024, may cast their votes electronically. The e-voting period commences on Monday, September 23, 2024 (9:00 a.m. IST) and ends on Wednesday, September 25, 2024 (5:00 p.m. IST). **Scrutinizer:** * M/s. P.M.Vala & Associates, Practicing Company Secretary, has been appointed as the Scrutinizer for e-voting. **Instructions for E-voting and Joining Virtual Meetings:** **Explanatory Statements:** * Re-Appointment of Mr. Srinivasan Pattamadai: Details of his profile, terms of re-appointment, board meeting attendance, relationships with other directors, and shareholding in the company are provided. * Appointment of Statutory Auditors: M/s S. Parth & Co is proposed as the new Statutory Auditors. * Preferential Issue of Equity Shares to Non-Promoters: Rationale, number of shares, pricing, and other details related to the proposed preferential issue are provided. * Appointment of Additional Directors: Justification for appointing Mr. Yakinkumar Bansilal Joshi, Mr. Sodha Mosim Abhubakhar, and Mr. Chinmay Pradhan as Non-Executive, Non-Independent Directors; and Mrs. Aarti Singh as a Non- Executive, Independent Director; along with their qualifications and expertise. The terms and conditions of their appointment shall be open for inspection by the Members, without any fee at the Registered Office of the Company during normal business hours on any working day up to the date of the AGM. * Appointment of Executive Director: Details of appointment of Mr. Manoj Sambhaji Sawant as an Executive Director, for a period of 5 (five) years. Broad particulars of the terms of appointment of and remuneration payable to Mr. Manoj Sambhaji Sawant. **Directors' Report:** * **Summarized Financial Results:** 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. * Trading approval was received from BSE Limited on 16th August, 2024 vide letter dated 08th August, 2024. * The company does not have any Subsidiary as on 31st March, 2024. * The Board of Directors has deemed it prudent not to recommend any final dividend on equity shares for the year ended 31st March, 2024. * The Board of Directors has not recommended transfer of any amount to the General Reserve for the Financial Year ended March 31, 2024. * 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. * The Company constantly takes effective steps to attain energy conservation. * The Company does not employ any foreign technology which needs absorption or adaptation. * 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"). During the year the Company received NIL complaints. **Statutory Auditors and Auditors' Report:** * Based on the recommendation of the Audit Committee, the Board of Directors has proposed the appointment of Mr Parth Shah of M/s S. Parth & Co, 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. * Auditors' Report given by M/s. JMT Associates for FY 2023-2024 is Qualified . The following are the qualifications given by the Statutory Auditor: 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 and Confirmations of Sundry Debtors, Loans & Advances given and Sundry Creditors (including squired-up accounts during the year) have not made available to us and 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. 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. **Key Managerial Personnel:** * Mrs Kshipra Bansal - Company Secretary **Director's Responsibility Statement:** **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. **Code of Conduct:** 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. **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'. **The details of Non-compliances:** We regret to inform you that there was a delay in reporting the closure of the trading window for the all the quarter ended and We wish to bring to your attention that there was a delay in submitting the Certificate required under Regulation 74(5) of the SEBI, There is no registration of Independent Director of Mr. Tahir Masalawala on the portal of MCA for Independent Directors, Company secretary in Employment and Compliance officer Mrs. Akshita Agarwal tendered resignation and We regret to inform you that the Company did not file its quarterly financial results as required under SEBI for any of the quarters during the financial year 2023-2024, and The Company did not submit the required Annual Disclosure under the SEBI, and The Company did not maintain the minute's book of board & committee meetings, and There was a delay in the filing the outcome to the Stock Exchange of the all Board Meeting held during the financial year 2023-2024 and failed to make proper and timely dissemination of important financial results to the Investors as well as Exchange and the Company has failed to appoint whole time company secretary and The Company has not appointed the Chief Financial Officer as required and The Annual Filing of the Company for previous 3 years has not been done with ROC and The Company did not filed the form INC-22A . As per Regulation 27(2)(a) of SEBI there is some discrepancy/ies in all the Corporate Governance reports filed to the Stock Exchange during the period under review and The Company is SDD Non-Compliant for all the quarter during the financial year 2023-2024 and We have not find any meeting of the Independent director held during the financial year 2023-2024 and their minutes, notices and agenda and The Company has not taken prior approval for AGM extension from the Registrar of Companies (ROC) and The Company has not made any compounding application with the ROC / RD, as required during the year ended 31.03.2024 **Secretarial Audit Report:** During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. except: We regret to inform you that there was a delay in reporting the closure of the trading window. The trading window closure was inadvertently not reported within the stipulated timeframe. Also there are the same above details of non-compliances mentioned. **Board's Report Annexures:** A report by the management. **Management Discussion and Analysis Report:** * The global sourcing market in India continues to grow at a higher pace compared to the ITBPM industry. India's IT exports stood at US$ 199 billion in FY24. * Direct employment in the IT services and BPO/ITES segment was estimated to reach 5.4 million in FY23 with an addition of 290,000 people. * The Indian IT industry's revenue touched US$ 227 billion in FY22, a 15.5% YoY growth and the IT spending in India is estimated to record a double-digit growth of 11.1 % in 2024, totalling US$ 138.6 billion. * However, 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, 2023 amounted to `3.55 Crores as against profit of ` 4.21 incurred in in a previous financial year for year ended March'2022. **Silverline Technological Limited Financials (In Lakhs):** * Revenue from operations for 2023-2024 was 1,72,21,000 compared to 3,55,98,000 in 2022-2023. * Net profit for the period in 2023-2024 was 1,14,795 compared to 31,82,880 in 2022-2023. * Total Assets: 667,935,704 in 2023-2024 compared to 542,705,908 in 2022-2023. * Total Liabilities: 379,662,310 in 2023-2024 compared to 273,784,310 in 2022-2023.

Silverline Technologies Limited Unlisted Shares

Silverline Technologies Limited - 31st Annual Report Summary (2022-2023) **Overview:** Silverline Technologies Limited presents its 31st Annual Report for the fiscal year 2022-2023. The report includes a message from the Chairman, Board of Director information, Auditor information, details about the Annual General Meeting, Director's Report, Corporate Governance Report, and Audited Financial Statements. The company emphasizes innovation, excellence, and delivery as its core values. The annual general meeting is scheduled for February 22nd, 2024. **Board of Directors:** The Board includes Ravi Subramanian (Chairman and Executive Director), Srinivasan Pattamadai (Executive Director), Tahir Masalawala (Non-Executive, Non-Independent Director), Nivedita Sen (Non-Executive, Non-Independent Director), and Tathagata Sarkar (Non-Executive, Non-Independent Director). **Chairman's Message:** The Chairman expresses pleasure in welcoming stakeholders to the 31st AGM. The Company successfully completed compliance requirements and addressed payment obligations to institutions like NDSL, CDSL, ROC, SEEPZ, and BSE. The management is close to obtaining the removal of suspension in trading from BSE Limited. The company is focused on high growth and emerging technology areas, planning for inorganic Mergers and Acquisitions and establishing a Silverline footprint in geographies with opportunities in emerging technologies. **AGM Details and Resolutions:** The 31st AGM will be held on Thursday, February 22, 2024, via video conferencing. Key items on the agenda include adopting the audited financial statements for the year ending March 31, 2023, re-appointing Srinivasan Sitapati Pattamadai as a Director, re-appointing JMT Associates as Statutory Auditors, and appointing Nivedita Sen and Tathagata Sarkar as Non-Executive, Independent Directors for a term of 5 consecutive years, effective February 22nd, 2024. Shareholders can attend the AGM via VC/OAVM, but physical attendance is dispensed with. Remote e-voting will be available from February 19th-21st, 2024. The company's website www.silverlinetechnology.com, provides information regarding remote e-voting and AGM details. **Director's Report:** The company's revenue was Rs. 355.98 Lacs compared to Rs. 421.30 Lacs the previous year, and earned a profit of Rs. 31.82 Lacs. While previous trading had been suspended at the BSE, efforts are underway to resolve outstanding issues and qualify for removal of the suspension. A search for a new Company Secretary is in progress. The company did not recommend any dividend for the current period. The company had borrowed secured loans worth Rs. 2257.15 lacs and unsecured loans of Rs. 250.09 lacs. The Board has constituted Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee. The extract of the Annual Return is placed on the company website. The Company will be sending Annual Report through electronic mode. The Company maintains healthy and harmonious relations with all personnel.The company is conscious of the importance of environmentally clean and safe operations. The Board of Directors has confirmed compliance to Directors' Responsibility Statement. There are disputed income tax liabilities for several assessment years. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015, was not fully adhered to. Secretarial Standards SS-1 and SS-2 were not observed for the formal appointment and resignation of previous Independent Directors. **Financial Performance & Highlights:** * Total Turnover: Rs. 355.98 Lacs (2022-2023) vs Rs. 421.30 Lacs (2021-2022) * Gross Profit: Rs. 27.94 Lacs (2022-2023) vs Rs. 43.20 Lacs (2021-2022) * Profit after tax: Rs. 31.82 Lacs (2022-2023) vs Rs. 32.95 Lacs (2021-2022) * Earnings per share: Rs. 0.051 (2022-2023) vs Rs. 0.054 (2021-2022) **Management Discussion and Analysis:** India is the leading sourcing destination across the world, accounting for approximately 52 per cent market share of the US$ 185-190 billion global services sourcing business in 2022-2023. The company expects good opportunities in the upcoming financial year. Business Continuity risk, Information and Cyber Security Risk, and Privacy Risk & Competition Related Risks and HR risks are also mentioned. The company keeps abreast on contemporary developments in the technology landscape through participation in key technology forums and conferences.The total revenue from the operations for the year ended March 31, 2023 amounted to Rs. 3.55 Crores as against profit of Rs. 4.21 incurred in a previous financial year for year ended March'2022. As per NASSCOM, the sector is estimated to provide direct and indirect employment to 46 million jobs by 2024. **Corporate Governance:** Transparency and accountability are the two basic tenets of Corporate Governance. The details regarding the composition and meetings of the Board of Directors are given in the Corporate Governance Report. **Independent Auditor's Report:** The financial statements give a true and fair view in conformity with the Indian Accounting Standards ("Ind AS"). JMT Associates has qualified its opinion due to insufficient audit evidence regarding additions to 'Supply Chain Services' assets, unavailability of sundry debtor and creditor confirmations, and unresolved GST registration cancellation. The Company does not have any pending litigations which would impact its financial position. Internal Audit plays a key role in providing an assurance to the Board of Directors with respect to the Company having adequate Internal Financial Control Systems. As per the report of the Independent Auditor’s Report, the Company needs to strengthen the existing systems and processes. The Company has zero tolerance towards sexual harassment at the workplace. **Financial Statement Extract:** * **Equity:** ₹24,62,78,514 * **Non-Current Liabilities:** ₹27,37,84,310 * **Current Liabilities:** ₹2,26,43,086 * **Total Assets:** ₹54,27,05,909 * **Revenue from Operations:** ₹3,55,98,000 * **Net Profit (Loss) after tax:** ₹31,82,880 **Key Risks and Concerns:** The report identifies Business Continuity risk, Information and Cyber Security Risk, and Privacy Risk & Competition Related Risks and HR risks as key concerns.The management monitors the company's net liquidity position through rolling forecasts on the basis of expected cash flows.

Silverline Technologies Limited Unlisted Shares

The following is a summary of the document: Silverline Technologies Limited Annual Report 2021-2022 **Overview** This document presents the 30th Annual Report for Silverline Technologies Limited, covering the financial year 2021-2022. It includes the Chairman's message, key financial highlights, directors' report, corporate governance report, auditor's report, and financial statements. The document also outlines the notices for the Annual General Meeting (AGM), including matters to be transacted and procedures for participation. **Annual General Meeting (AGM) Information** * The 30th AGM will be held on Friday, March 03, 2023, at 3:00 PM via Video Conferencing (VC)/ Other Audio-Visual Means (OAVM). * The register of members and share transfer books will be closed from Friday, February 24, 2023, to Friday, March 03, 2023 (inclusive). * E-voting will commence on Tuesday, February 28, 2023, at 09:00 AM and end on Thursday, March 02, 2023, at 5:00 PM. * The cut-off date to identify members eligible to vote is Friday, 24th February, 2023. **Matters to be Transacted at the AGM (Ordinary Business):** 1. Adoption of Financial Statements and Reports: To consider and adopt the audited financial statements as of March 31, 2022. 2. Appointment of Director (Ravi Subramanian): Re-appointment of Mr. Ravi Subramanian (DIN: 02151804), who retires by rotation. 3. Appointment of Director (Srinivasan Sitapati Pattamadai): Re-appointment of Mr. Srinivasan Sitapati Pattamadai (DIN: 06938100), who retires by rotation. 4. Re-Appointment of Statutory Auditors: Re-appointment of M/s. JMT Associates as the Statutory Auditors of the Company. **Matters to be Transacted at the AGM (Special Business):** 1. Appointment of Non-Executive, Independent Director (Mrs. Nivedita Sen): To appoint Mrs. Nivedita Sen (DIN: 07796043) as a non-executive, independent director for a term of five years, effective from March 03rd, 2023 up to the conclusion of 35th AGM in the calendar year 2027. 2. Appointment of Non-Executive, Independent Director (Mr. Tathagata Sarkar): To appoint Mr. Tathagata Sarkar (DIN: 08601775) as a non-executive, independent director for a term of five years, effective from March 03rd, 2023 up to the conclusion of 35th AGM in the calendar year 2027. 3. Approval for the continuation of appointment for Mr. Taher Mustufa Masalawala (DIN: 08681775) as Non-Executive, Independent Director. **Chairman's Message** * The Chairman, Ravi Subramanian, acknowledged difficulties in implementing the revival plan due to the inability to mobilize funds because the trading at the BSE is under suspension * The company is working to address issues to qualify for the removal of suspension of trading at the BSE. * The company has fine-tuned its revival strategy to address market opportunities in the Digital space. The reconstituted Strategic Business Units (SBUs) are as follows: * SBU 1: SAP Consulting Services * SBU 2: SAP HANA Practice * SBU 3: Pharma/Life Sciences - SMB segment * SBU 4: Supply Chain Finance * SBU 5: Cyber Security Business * SBU 6: Digital Business initiatives. * The Chairman expressed gratitude to partners, clients, employees, and stakeholders for their support. **Financial Highlights (Year Ended 31st March, 2022)** * Total Turnover: Rs. 421.30 Lacs (compared to Rs. 345.20 Lacs in the previous year). * Gross Profit: Rs. 145.45 Lacs (compared to a loss of Rs. 198.95 Lacs in the previous year). * Profit Before Exceptional Item and Tax: Rs. 43.20 Lacs (compared to a loss of Rs. 198.95 Lacs in the previous year). * Profit After Exceptional Item and Tax: Rs. 32.95 Lacs (compared to a loss of Rs. 198.95 Lacs in the previous year). * Earnings per Share: Rs. 0.054 (compared to Rs. -0.33 in the previous year). **Directors' Report** * The directors report several positive improvements in the overall functioning of the Company * The Board of Directors has been reconstituted, and qualified professionals have been hired. * The Company is working to comply with requirements and directions of various regulators. * There was no change in the nature of business. * The Board does not propose to transfer any amount to the Reserve for the period under consideration. * Directors have not recommended any dividend for the current period. * No amount has been transferred to the Investor Education & Protection Fund (IEPF), and no amount is lying in Unpaid Dividend A/c of the Company. * There were no material changes affecting the financial position of the Company during the year. * The company's trading at the BSE is under suspension, and the company is working to resolve outstanding issues to qualify for removal of the suspension. * The Company did not have any subsidiary, associate, or joint venture companies. **Directors and Key Managerial Personnel** * Ravi Subramanian is the Chairman and Executive Director. * Srinivasan Sitapati Pattamadai is the Managing Director. * Lucy D'Lima, Ramakrishnan Padmanabhan Iyer, and Anupam Singh Kushwah resigned on 09th September 2022 * Appointments were made under Section 161 of the Companies Act' 2013 in non -executive category of Mrs. Nivedita Sen and Mr. Tathagata Sarkar. * Taher Masalawala continues to be on board of the company. **Board Committees:** * Audit Committee * Nomination and Remuneration Committee * Stakeholders' Relationship Committee **Other Key Points** * Internal controls are adequate with reference to financial statements. * The Company has established a vigil mechanism. * The company is sending the Annual Report through electronic mode to shareholders. * The Company has a zero-tolerance policy toward sexual harassment. **Extracted from the Annual Return (Form MGT 9):** * CIN: L99999MH1992PLC066360 * Name of the Company: Silverline Technologies Limited * Registered Office: Unit No 121, Sdf Iv Seepz Andheri East Mumbai 400 096 * The financial year ended on March 31, 2022 * Registrar and Transfer Agents: Link Intime India Private Limited * Principal Business Activities of the Company * Shareholding of top ten shareholder including Ashwin Shantilal Shah. * Indebtedness of the Company including interest outstanding /accrued but not due for payment **Management Discussion and Analysis Report:** * Discusses the industry structure, investment developments, government initiatives, opportunities and threats, mitigation strategies, and operational performance. * Provides an outlook for the IT sector and the company's position. **Auditor’s Report** * M/s JMT & Associates Chartered Accountants confirmed the financial statements give the information required by the Companies Act, 2013 and give a true and fair view in conformity with the Indian Accounting Standards * Auditor’s Report contain opinions related to adequate Internal Financial Controls, Regulatory Requirements. **Conclusion** The document provides a comprehensive overview of Silverline Technologies Limited's performance and activities during the financial year 2021-2022, including financial results, strategic direction, governance matters, and information relevant to shareholders. It also outlines the procedures for participating in the upcoming AGM and the company's commitment to compliance and ethical practices.

Silverline Technologies Limited Unlisted Shares

Silverline Technologies Limited 29th Annual Report 2020-2021 Summary: **Overview:** The document is the 29th Annual Report of Silverline Technologies Limited for the fiscal year 2020-2021. It includes the Chairman's message, calendar of events, notice of the Annual General Meeting (AGM), Director's Report, Corporate Governance Report, Auditor's Report and Financial Statements. Silverline Technologies Limited is a company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. The Company is primarily engaged in the business of Plastic Molding manufacturing activity at its software development unit situated at SEEPZ, Mumbai Maharashtra. **Board of Directors and Key Personnel:** Key personnel include: Ravi Subramanian (Chairman and Executive Director), Srinivasan Pattamadai (Managing Director), Lucy D'lima (Women Independent Director), Anupam Khushwa (Independent Director), Ramakrishnan Iyer (Independent Director), Jyoti Kumari Sharma (Company Secretary). **Annual General Meeting (AGM):** The 29th AGM will be held on December 30, 2021, at 2:00 PM via Video Conferencing (VC)/Other Audio Visual Means (OAVM). Ordinary business includes: Adoption of Financial Statements and Reports thereon, Appointment of a Director in place of the one retiring by rotation, Re-Appointment of Statutory Auditors, Special Business: To appoint Mr. Tahir Mustufa Masalawala as an Independent Director for a period of Five years upto 31/03/2026. **Chairman's Message:** Despite best efforts, the revival plan's implementation was hampered by inability to mobilize funds due to BSE trading suspension. However, efforts were made to address all outstanding issues for BSE trading resumption. The revival strategy was fine-tuned focusing on digital space market opportunities, and SBU's were reconstituted: SAP Consulting Services, SAP HANA Practice, Pharma/Life Sciences -SMB segment, Supply Chain Finance, Cyber Security Business, Digital Business initiatives. **Director's Report:** The company generated revenue of Rs. 345.20 lacs in 2020-21 compared to Rs. 282.30 lacs in the previous year and incurred a loss of Rs. 198.95 lacs compared to a profit of Rs. 24.85 lacs. The Board of Directors was reconstituted. The Company has hired several qualified Professional's including Corporate Advocates, Company Secretaries, IT Professional's etc. These professionals had successfully completed various pending Compliances with Bombay Stock Exchange, Registrar of Companies, NSDL, CDSL, and the Registrar and Share Transfer Agents. There was no change in the nature of business. The Board doesn't propose transferring any amount to the Reserve. Directors haven't recommended any dividend for the current period. There has been no instances of occurrence of any material changes or commitments that could affect the financial position of the Company. The trading at the BSE is under suspension. The company has zero tolerance towards sexual harassment at the workplace. **Financial Highlights (Year Ended March 31, 2021, in Lacs):** * Total Turnover: 345.20 * Gross profit: (198.95) * Profit before exceptional Item and tax: (198.95) * Profit after exceptional Item (before tax) – PBT: (198.95) * Profit after exceptional Item and tax – PAT: (198.95) * Earnings per share - basic and diluted Rs.: (0.33) **Corporate Governance:** The details of composition and meetings of the committees held during the year are given in the Corporate Governance Report. The company will be sending Annual Report through electronic mode i.e. email to all the shareholders. The Company has established a vigil mechanism to enable directors and employees to report genuine concerns and grievances. **Auditor's Report:** The report includes the opinion of the auditors on the standalone financial statements, key audit matters, and other legal and regulatory requirements. The auditor reports on the accuracy and fairness of the financial statements and the adequacy of internal financial controls. The report also mentions compliance with various accounting standards and regulations. **Financial Statements:** The report includes the balance sheet, statement of profit and loss, statement of cash flow, and statement of changes in equity. It provides detailed information about the company's assets, liabilities, equity, revenue, expenses, and cash flows. **Key Ratios and Financial Position:** The company's performance shows an increase in revenue but also significant losses. The report highlights the efforts to revive the business, comply with regulations, and improve internal controls. The company's debt levels are also noted.