Sahara Housing Fina Corporation Ltd

Dear Members,

The Board of Directors of Sahara Housingfina Corporation Limited ("the Company" or "SHCL") is pleased to present the 33rd Annual Report and the Audited financial statements of the Company for the financial year ended March 31, 2024 ("financial year under review").

? Financial Summary

The Company's financial performance for the financial year ended March 31, 2024 as compared to the previous financial year ended March 31, 2023 is summarised below;

(Rs' in Lakhs)

Some of the key highlights of your company's performance during the year under review;

The Gross Income for the year under review was ' 1062.65 Lakh as against the previous financial year's income of ' 1120.26 Lakh.

Your Company's Profit Before Tax (PBT) for the current financial year is ' 184.95 Lakh as compared to ' 208.70 Lakh in the previous financial year and the Profit After Tax (PAT) for the current financial year is '140.45 Lakh as against '141.60 Lakh in the previous year.

During the year under review, your company transferred 'Rs 29.22 Lakhs to the Statutory Reserve under Section 36(1)(viii) of the Income Tax Act, 1961 read with Section 29C of the NHB Act, 1987.

The Earnings per share (EPS) as on March 31,2024 was ' 2.01 as against ' 2.03 as on March 31, 2023.

The paid-up equity share capital as on March 31, 2024 was Rs' 7.00 Crores, divided into 7,000,000 equity share of face value of '10 each.

Your company did not raise fresh money through (Unlisted) Secured Non Convertible Debentures (NCD) during the year under review. As on March 31,2024, your Company's outstanding secured long time borrowing was ' 30 Cr. and interest due thereon has been paid. Infomerics Valuation and Rating Pvt. Ltd. has given credit rating of IVR BB-/Stable (IVR double B minus with Stable Outlook)

(l) Lending Performance

During the year under review, the Company disbursed loans aggregating to '1384.75 lakhs as against '1596.19 lakhs in the previous year. The overall outstanding loan portfolio as at March 31, 2024 stood at' 7576.74 lakhs as against ' 7866.63 lakhs in the previous year March 31, 2023.

The Cumulative Log-in, Sanction and Disbursement as on March 31, 2024 and 2023 are as under;

(m) Fresh Loans

The year-wise sanction and disbursement details for the previous five years are as under;

(' In Lakhs)

The Company continues to serve from four regions, East (Kolkata), North (Lucknow), South (Hyderabad) and West (Mumbai) and eleven branches located at Kolkata, Siliguri, Ranchi, Durgapur, Lucknow, Gorakhpur, Mumbai, Pune, Hyderabad, Vijayawada and Visakhapatnam.

(n) Non-Performing Assets and Provisions for Contingency

Your Company strictly adheres to the prudential guidelines for Non-Performing Assets (NPAs) issued by the Master Direction-Non-Banking Financial Company Housing Finance Company - (Reserve Bank of India) under its Directions of 2021, as amended from time to time. As per the prudential norms, the Company did not recognise any income on such NPAs. The Company has made appropriate provision for contingencies on standard as well as non-performing housing loans and other loans as per the norms set by RBI.

The amount of Gross Non-Performing Assets (GNPA) on the Housing Loan portfolio as on March 31,2024 was 'Rs 583.06 lakhs against Rs' 653.88 lakhs as at March 31, 2023. The Executive Management is taking necessary steps to contain the same within limit.

(o) Dividend

The Board of Director's felt it prudent to retain the earnings for the year under review to be ploughed back in the lending business which shall result in augmenting the Company's growth and consequently shareholder's wealth.

(p) Deposits

Your Company has been granted certificate of registration by National Housing Bank, New Delhi as a non-deposit taking Housing Finance Company. In accordance with the said stipulations, the Company under the current management has neither accepted in the past nor has any future plans to accept any public deposits, by whatever name called. There are no unclaimed deposits as on March 31, 2024.

(q) Particulars of Loans Guarantees or Investments

Since the company is a Housing Finance Company, the disclosure regarding particulars of loans given, guarantees given and security provided is exempt under the provision of Section 186(11) of the Companies Act, 2013.

As regards investments, there are no investments made by the Company for the year ended March 31, 2024 except short term investment in Fixed Deposit with a Nationalised Bank.

(r) Regulatory and Statutory Compliances:

The Company is regulated by the statutory regulators including but not limited to the Ministry of Corporate Affairs, Reserve Bank of India, National Housing Bank, Stock Exchanges and Securities and Exchange Board of India.

All the relevant circulars, notifications, guidelines and Directions issued by the aforesaid statutory regulators were duly placed before the Board of Directors at regular intervals to update the Board members on compliance of the same.

Your Company has adhered to all the applicable circulars, notifications, and guidelines issued from time to time. Your Company is also in compliance with the applicable provisions of the Companies Act, 2013 and rules made thereunder including Secretarial Standards and other applicable statutory requirements

Your Company is in Compliance with the Master Directions-Non-Banking Financial Company-Housing Finance Company (Reserve Bank) Directions, 2021 and as updated from time to time

Your Company is in Compliance with the applicable circular, notifications and regulations issued by SEBI from time to time including but not limited to SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time as on the date of this report.

Your Company is adhering to Principal Business Criteria for HFCs as specified under Master Directions-Non-Banking Financial Company-Housing Finance Company (Reserve Bank) Directions, 2021 and as updated from time to time.

The Company has also been following directions, guidelines, circulars issued by SEBI, Stock Exchange (BSE) and MCA from time to time pertaining to listed companies.

In order to prevent frauds in loan cases involving multiple lending from different banks/housing finance companies, the Government of India has set up the Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) under Section 20 of the SARFAESI Act 2002 to have a central database of all mortgages created by lending institutions. Your Company is registered with CERSAI and the data in respect thereto is being submitted, from time to time.

Your Board deeply regrets the sad demise of Late Brijendra Sahay (DIN:00017600) Independent Director of the Company on 14th February 2024. Late Brijendra Sahay was associated as a member on the Board of Directors of the Company for more than two decades and had immensely contributed to the substantial growth and wellness of the company over the years through his invaluable advice and guidance.

The Board wishes to records its highest gratitude and appreciation of Late Brijendra Sahay's services towards the Company during his long tenure as a Director of the Company.

On the basis of the recommendation of Nomination & Remuneration Committee and subject to approval of the members of the company in the ensuing annual general meeting, the Board of Directors of the Company has, on March 05, 2024, appointed Shri Rajiv Kumar Lal (DIN: 07093037), as an Additional Director, in the category of Independent Director for a continuous period of 5 years ending on March 04, 2029.

Ms. Anshu Roy (DIN 05257404) resigned as an Independent Director of the Company with effect from 31st July 2024 due to medical reasons. Your Board wishes to place on records its sincere gratitude and appreciation of the invaluable support and services rendered by her to the company during her long tenure of almost 10 years as a member on the Board.

In accordance with the provisions of Section 152 of the Companies Act, 2013 and the Articles of Association of the Company, Shri Awdhesh Kumar Srivastava, (DIN: 02323304) (Non-Executive & NonIndependent) Director of your Company retires by rotation and is eligible for reappointment at the ensuing Annual General Meeting.

Brief resume of the Directors, proposed to be appointed/re-appointed, nature of their expertise in specific functional areas and name(s) of other companies in which they hold Directorships along with their Membership/Chairmanship of Committees of the Board as stipulated under Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirement) Regulation 2015 shall be furnished in the Annexures to the Notice of the Thirty-third Annual General Meeting of the Company that will be sent to the members along with the Annual Report.

Based on the confirmations received, none of the Directors are disqualified for being appointed / reappointed as Directors in terms of Section 164 the Companies Act, 2013.

During the year under review, no stock options were issued to the Directors of the Company.

All Independent Directors have given declarations that they meet the criteria of independence, as laid down under Section 149(6) of the Companies Act, 2013 and the provisions of Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri D J Bagchi, CEO & Company Secretary was reappointed as "Manager" under Section 196, 197, 198, and as a Key Managerial Personnel under Section 203 of the Companies Act, 2013. The earlier appointment of Shri D J Bagchi as Manager expired on July 30, 2024. The Board of Directors of your Company, in its meeting held on May 29, 2024, on the recommendation of the Nomination & Remuneration Committee, thought it prudent to reappoint Shri D J Bagchi, as Chief Executive Officer and Manager under Section 196, 197, 198, and as a Key Managerial Personnel under Section 203 of the Companies Act, 2013 and rules made thereunder for a further period of three years w.e.f. July 31, 2024 subject to the approval of the members at its forthcoming Annual General Meeting .Necessary resolution for the said re-appointment is being proposed in the notice of the ensuing Annual General Meeting for the approval of the members.

Shri Vivek Kapoor continues to serve your company as Chief Financial Officer (CFO) and a Key Managerial Personnel under Section 203 of the Companies Act, 2013.

Pursuant to the 'Fit and Proper' Policy adopted by the Company in terms of Chapter IX - Corporate Governance of Master Direction-NonBanking Financial Company-Housing Finance Company (Reserve Bank) Directions, 2021 issued by RBI, the Company has received the requisite declarations and undertaking from all Directors of the Company.

All the Independent Directors have submitted the declaration of independence, as required pursuant to provisions of the Section 149(7) of the Act, stating that they meet the criteria of independence as provided in Section 149(6) of the Act and Regulation 16(1)(b) of the Listing Regulation and are not disqualified from continuing as Independent Directors of the Company. Further, the Independent Directors have confirmed their registration/exemption on/from Independent Directors Databank. These declarations/confirmations have been placed before the Board

The Board during the relevant financial year had met five times on May 30, 2023, August 14, 2023, November 07, 2023, February 09, 2024 and March 05, 2024 respectively.

Catalyst Trusteeship Limited having its registered office at Unit No.: 901,9th Floor,Tower-B, Peninsula Business Park Senapati Bapat Marg, Lower Parel (W) Mumbai - 400013

Link Intime India Private Limited having its registered office at 247 Park, C 101, 1st Floor, L B S Marg, Vikhroli (West), Mumbai, Maharashtra-400083 is the Registrar and Share Transfer Agent of the Company.

M/s. B M Chaturvedi & Co. Chartered Accountant (Firm Registration No: 114317W) were appointed as Statutory Auditor of the Company to hold the

office with effect from the conclusion of 31st Annual General Meeting (AGM) held on 28th September 2022 for a period of 5 years till the conclusion of 36th Annual General Meeting (AGM). The appointment is in compliance with the notification issued by Reserve Bank of India (RBI) dated April 27, 2021 on Guidelines for appointment of Statutory Central Auditors (SCAs)/Statutory Auditors(SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) (RBI Guidelines). The Company is in compliance with para 54 of Master Direction on Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 on Rotation of the partners of the Statutory Auditors Firm.

The Statutory Auditors have not made any adverse comments or given any qualification, reservation, or adverse remarks or disclaimer in their Audit Report on the financial statements of the Company for the Financial Year 2023-2024. Also, the Statutory Auditors have not reported any instances of fraud in the Company committed by officers or employees of the Company to the Audit Committee under Section 143(12) of the Companies Act, 2013.

In accordance with Section 204 of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, Shri P V Subramanian, Practicing Company Secretaries, was appointed as Secretarial Auditors to conduct the Secretarial Audit of the Company for the financial year 2023-24. The Report of Secretarial Auditor is annexed as "Annexure - 2" to this report. The report does not contain any qualification, reservations, adverse remarks or disclaimers.

Your Directors would like to inform that the audited accounts for the year ended March 31,2024 are in conformity with the requirements of the Companies Act, 2013 and they believe that the financial statements reflect fairly the form and substance of transactions carried out during the year and reasonably present the Company's financial condition and results of operations.

These Financial Statements are audited by M/s. B M Chaturvedi & Co., Chartered Accountants the Statutory Auditors of the Company and pursuant to the provisions of Section 134(5) of the Companies Act, 2013, it is hereby confirmed that;

a. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there were no material departures;

b. that appropriate accounting policies have been selected and applied consistently, and Directors have made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2024, and of the profit of the Company for that year;

c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. that the annual accounts have been prepared on a 'going concern' basis;

e. that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively; and

f. that internal financial controls to be followed by the Company have been laid down and that such internal financial controls are adequate and operating effectively.

Your Company is not engaged in any manufacturing activity and thus its operations are not energy intensive and the particulars relating to conservation of energy and technology absorption as per Section 134(3) of the Companies Act, 2013, read with Rule 8(3) of the Companies (Accounts) Rules, 2014, are not applicable. There has been no foreign exchange earnings and outgo during the year under review.

The ratio of the remuneration of each Director to the median employees remuneration and other particulars or details of employees pursuant to

Section 197(12) of the Companies Act, 2013 along with the names of top 10 employees in terms of remuneration drawn read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended are attached to this Report as "Annexure - 1".

The maintenance of cost records has not been specified by the Central Government under section 148(1) of the Act for the business activities carried out by the Company. Accordingly, paragraph 3(vi) of the Order is not applicable to the Company at present.

The Company has Zero tolerance towards any action on the part of any executive/staff which may fall under the ambit of 'Sexual Harassment' at workplace, and is fully committed to uphold and maintain the dignity of every women executive/staff working in the company. The following is a summary of Sexual Harassment complaints received and disposed of during the financial year 2023-24;

Pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a separate section titled Report on Corporate Governance and Management Discussion and Analysis forms part of this Annual Report. The Report on Corporate Governance also includes certain disclosures that are required, as per Companies Act, 2013.

The certificate by Shri P V Subramanian, Practicing whole time Company Secretary, ACS no.4585 (CP: 2077) with regards to compliance with the conditions of Corporate Governance as stipulated in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report.

The Company has an adequate internal audit system in place whereby the Internal Audit is

conducted by the Internal Auditor and reports are submitted on a periodic basis. The audit function maintains its independence and objectivity while carrying out its assignments. It evaluates on a continuous basis the adequacy and effectiveness of internal control mechanism, adherence to policies, procedures as well as regulatory and legal requirements. The function also recommends improvement in operational processes and suggests streamlining of controls against various risks. The Audit Committee of the Board reviews the internal audit function on a continuous basis.

There were no significant / material orders passed by any Regulator or Court or Tribunal which would impact the going concern status of the Company and its future operations.

There are no proceedings, either filed by the Company or filed against the Company, pending under the Insolvency and Bankruptcy Code, 2016 as amended, before the National Company Law Tribunal or other Courts as at the end of the Financial Year 2023-24.

In the financial year under review, there was no change in the nature of the business of the Company.

The Policy on Nomination and Remuneration of Directors/ KMP/ Senior Management has been formulated by the Nomination and Remuneration Committee (NRC) and same has been approved by the Board of Directors of the Company. The said policy is for determining qualifications, positive attributes, and independence of a Director, KMP, and Senior Management.

a. Appointment and Removal of Directors, KMP, and Senior Management;

b. Evaluation/ Assessment of Directors/ KMP/ Senior Management;

c. Remuneration to Non-Executive Directors and Executive Directors; and

d. Remuneration to the Key Managerial Personnel and Senior Management

In accordance with the provisions of Section 188 of the Companies Act, 2013 and rules made thereunder; the transactions entered with related parties during the financial year were in the ordinary course of business and on an arm's length pricing basis, the details of which are included in the notes forming part of the Financial Statements. Further, during the financial year under review, the Company had not entered into transactions with related parties, which could be considered to be 'material' in accordance with the Related Party Transaction Policy of the Company and therefore, the disclosure of Related Party Transactions as required under Clause (h) of sub-section (3) of Section 134 of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014, Form AOC-2 is not applicable to the Company for financial year 2022-23 and hence the same is not provided.

The Related Party Policy is available on the website of the Company at the URL http:// www.saharahousingfina.com/misc/SHCL_Related _Party_Transaction_Policy_Amended_28-May- 2022.pdf

In terms of the provisions of the Companies Act, 2013, the Board at its meeting held on November 07, 2023, carried out an annual evaluation on the performance of the Board, that of its committee(s) and individual Directors and expressed its satisfaction as to their performance for the Financial Year 2023-24.

The performance of the committee i.e. Audit Committee, Nomination & Remuneration Committee, Risk Management Committee and Stakeholders Relationship Committee was also evaluated on the basis of its composition, effectiveness in carrying out its mandate, relevance of its recommendations, and allocation of adequate time to fulfil its mandate.

The performance evaluation of the Non-Independent Director and Board Committees and the Board as a whole was also carried out by the Independent Directors at their separate meeting held on 07th November, 2023.

The details of evaluation process as carried out and the evaluation criteria and framework have been explained in the Corporate Governance Report, forming part of this Annual Report.

Your Company has insured its various properties and facilities against the risk of fire, theft, etc., so that financials are not impacted in the unfortunate event of such incidents. However, your Company does not offer at present Directors and Officers Liability Insurance Policy.

The company has in place Asset Liability Committee (ALCO) which monitors and on an ongoing basis, liquidity, interest rate and funding risks to which the Company is susceptible. Liquidity risk is caused by an asset-liability mismatch resulting from a difference in the maturity profile of the assets and liabilities. Unexpected increases in the cost of funding an asset portfolio, at the appropriate maturity, and the risk of being unable to liquidate a position in a timely manner at a reasonable price, are some of the triggers of this risk.

The liquidity risk among housing finance companies stems from the fact that the assets generated by housing finance companies have an average tenure of 10-12 years, while the liabilities have seven to ten years. The Company actively monitors its liquidity position to ensure that it can meet all requirements of its borrowers, while also meeting the requirements of its lenders, and also strengthen its ability to consider investment opportunities as they arise. The Asset Liability Management Committee ("ALCO"), comprising Senior Management Team who lays down policies and quantitative limits which the Audit Committee and the Board are periodically apprised in this regard.

Pursuant to the provisions of section 135 and schedule VII of the Companies Act, 2013, at present the CSR provisions are not applicable to the Company.

& Codes, Standards and Policies

Your Company has a Board approved Know Your Customer & Anti Money Laundering Measure Policy (KYC & AML Policy) in place, which is strictly adhered to. The said Policy is in line with the Master Direction - Non-Banking-Financial Company Housing Finance Company (Reserve Bank) Directions, 2021.

The Company has also adhered to the compliance requirement in terms of the said policy relating to the monitoring and reporting of cash / suspicious transactions. The Company is committed to furnish to Financial Intelligence Unit (FIU), India, in the electronic medium, information of all cash transactions of the value of more than Rupees ten lakh or its equivalent in foreign currency and suspicious transactions, whether or not made in cash, in terms of the said Policy.

The said policy is available on the website of the Company at the U RLhttp://www saharahousingfina.com/misc/SHCL_RBI_KYC_ 09022024_PDF.pdf

Your Company has in place a Fair Practice Code (FPC), which includes guidelines on appropriate staff conduct when dealing with the customers and on the organisations policies vis-a-vis client protection. The FPC is being revised and updated to align the same with the improved practices in relation to the dealings of the Company with its customers, and as the Master Direction - Non Banking Financial Company Housing Finance Company (Reserve Bank) Directions, 2021.

The said policy is available in various languages on the website of the Company at the URLhttp://www.saharahousingfina.com/misc/SH CL_RBI_FPC_09022024- English&Regional_Language.pdf

(c) Whistle Blower Policy (Vigil Mechanism)

Pursuant to the provisions of Section 177(9)&(10) of the Companies Act, 2013 read with Rule 7 of

Companies (Meetings of Board and its Powers) Rules, 2014 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, your Company has in place a Whistle Blower Policy, which provides for a vigil mechanism that encourages and supports its Directors and employees to report instances of illegal activities, unethical behaviour, actual or suspected, fraud or violation of the Company's Code of Conduct or Ethics Policy. It also provides for adequate safeguards against victimisation of persons who use this mechanism and direct access to the Chairman of the Audit Committee in exceptional cases.

The said policy is available on the website of the Company at the URL http://www. saharahousingfina.com/misc/ SHCL_Whistle_ Blower_Policy.pdf

Your Company has in place Code of Conduct for the Board of Directors and the Senior Management Personnel to set forth the guiding principles on which the Company and its Board and Senior Management Personnel shall operate and conduct themselves with stakeholders, government and regulatory agencies, media and anyone else with whom it is connected in a professional and respectful manner.

The declaration by the CEO of the Company regarding compliance with the Code of Conduct for Board Members and Senior Management is annexed with the Corporate Governance report.

The said policy is available on website of the Company at the URL http://www. saharahousingfina.com/misc/SHCL_ Code_ of_ Conduct_Revised_13-Dec-2019.pdf

Your Company has formulated and adopted a Code for Prevention of Insider Trading Practices in accordance with the model code of conduct as prescribed under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The code

lays down guidelines, which includes procedures to be followed and disclosures to be made while dealing in the shares of the Company. The code is applicable to the promoters, directors, senior designated employees and the said persons are restricted from dealing in the securities of the Company during the restricted trading periods notified by the Company.

Your Company has formulated and adopted the policy on disclosure of material events and information, in accordance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, to determine the events and information which are material in nature and are required to be disclosed to the stock exchanges.

The said policy is available on website of the Company at the URL http://www. saharahousingfina.com/annualreport/ Materiality_Policy.pdf

Your Company has formulated and adopted the policy on documents and records in accordance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The policy ensures that the company complies with the applicable documents retention laws, preservations of various statutory documents and also lays down minimum retention period for the documents and records in respect of which no retention period has been specified by any laws / rule / regulations.

Your Company has formulated and adopted the policies on Partial / Part-Prepayments, Foreclosure / Pre-closure of loan prior to actual / agreed date of closure, Code of Conduct for Direct Selling Agents, Guidelines for Recovery Agents, Policy on Refunds of Fees (AF/PF), etc

in order to upgrade the procedures of collecting the information from the prospective borrowers and to ensure fair practices in dealing with the borrowers.

& Listing of Shares of the Company

The Equity Shares of your Company continue to remain listed (Group-X) on the BSE Ltd. The Company has paid the listing fees as payable to the BSE Ltd. for the financial year 2024-25.

& Technology Updation

The Company is going through the exercise of upgrading the existing in-house developed software as per the modest sized HFC and as per the requirement of the regulators. It is expected that with its gradual commissioning of the entire facet of the business i.e. Operations, Credit, Finance & Accounts, Regulatory Report and Returns, MIS etc. shall be system driven with greater efficiency, checks, balance and alerts. The process of procurement of hardware/software has already been completed and onward development work is in advanced stage. The commissioning of the in-house software will be undertaken in a progressive and stage-wise manner.

& Depository System

The Company has entered into an agreement with CDSL/NSDL for transaction of shares in dematerialized form.As on March 31, 2024, only 2.95 per cent of the Company's paid up Share Capital consisting of 2,06,209 shares were held in physical form. As per the Securities and Exchange Board of India's (SEBI) instructions, the Company's shares have to be transacted in dematerialised form and therefore, members are requested to convert their holdings to dematerialised form. .

& Human Resources and Training

Your Company believes that work is created when employee relate themselves to the goal of the organisation, feels connected to their leaders and have a sense of belonging. Your Company's focus is to stay strong on providing our employee a work environment that welcomes diversity, nurtures positive relationships, provides challenging work assignments and provides opportunities based on the merit of employee to grow and build their careers with us in line with their aspirations.

As on 31st March 2024, the employee strength of the Company was 29 employees. support and co-operation extended by them from time to time.

Like previous year, the go green initiative to send annual report in electronic format to the shareholders who have registered their e-mail ID with their Depository Participant, shall be continued. The shareholders who have not yet registered their e-mail ID are requested to do so to enable the Company to effectively comply with this initiative.

Pursuant to Section 92(3) read and Section 134(3)(a) of the Companies Act, 2013, the Annual Return as at March 31, 2024, is available on the website of the Company at the link: http//www.

saharahousingfina.com/ misc/SHCL_MGT-7_AGM- Draft-Website.pdf.

Your Directors place on record their sincere appreciation for the assistance and guidance provided by the Reserve Bank of India (RBI), the National Housing Bank (NHB), the Securities and Exchange Board of India (SEBI), the Ministry of Corporate Affairs (MCA), the Registrar of Companies (RoC) and all other government and regulatory authorities for the

Your Directors place on record their gratitude for the guidance and support extended by BSE Limited, National Securities Depository Limited (NSDL), Central Depository Services (India) Limited (CDSL) and the Credit Rating Agencies from time to time.

Your Directors also place on record their sincere appreciation for the continued support extended by the Bankers, Registrar and Share Transfer Agent (RTA), Debenture Trustee, Channel Partners and other stakeholders and the trust reposed by them in the Company.

Your Directors place on record their appreciation for the exemplary contribution made by the employees of the Company at all levels. Their dedicated efforts and enthusiasm have been pivotal to the Company's growth.

For and on behalf of the Board of Directors