Dear Shareholders,

Your Board of Directors are pleased to present the 39^th Annual Report on the business and operations of Omax Autos Limited ("the Company"/"Omax"), together with the Audited Financial Statements for the financial year ended 31^st March, 2022.

FINANCIAL SUMMARY

The summary of the financial performance of the Company for the financial year ended 31^st March, 2022 as compared to the previous financial year is as below:

Amounts in Lakhs

TRANSFER TO RESERVE

No amount is transferred to the General Reserve of the Company for the financial year 2021-22.

DIVIDEND

Your Directors do not recommend any dividend during/ for the financial year 2021-22.

MATERIAL CHANGES AND COMMITMENTS IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY BETWEEN THE END OF THE FINANCIAL YEAR UNDER REVIEW TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THIS REPORT.

In opinion of the Board, there have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year under review to which the financial statements relate and the date of this Report.

CHANGE IN THE NATURE OF BUSINESS

During the year under review, there has been no change in the nature of business of the Company. The main business activity of the Company primarily continues to be manufacturing and supply of sheet metal components. The Company is continuously exploring the possibility of venturing into new business areas to minimize its business risks.

STATE OF THE COMPANY?S AFFAIRS, OPERATIONS AND FUTURE PROSPECTS

During the financial year 2021-22, the total revenue of the Company was Rs. 253.77 Crores as compared to total revenue of Rs. Rs. 183.53 Crores. The Company has achieved Profit before tax for the year under review Rs. 22.70 Crore as against Rs.-11.54 Crore for the previous financial year.

SHARE CAPITAL

The Authorised Share Capital of the Company is Rs.

30.00. 00.000 (Rupees Thirty Crores Only) divided into

2.65.00. 000 equity shares of Rs. 10 each; 20,00,000 equity shares with differential voting rights of Rs. 10 each and 1,50,000 Optionally Convertible Cumulative Preference Shares (12%) of Rs. 100 each. The paid up share capital of the Company, as on 31st March, 2022, was Rs. 21,38,82,130 divided into 2,13,88,213 equity shares of Rs. 10 each.

The Company has not issued any sweat equity shares. As on 31^st March, 2022, none of the Directors of your Company hold instruments convertible into equity shares of the Company.

During the year under review, there was no change in the share capital of the Company from the last financial year.

The shares are actively traded on BSE and NSE and have not been suspended from trading.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of Regulation 34(2)(e) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report has been appended separately, which forms part of the Annual Report.

CORPORATE GOVERNANCE

Corporate Governance is the application of best Management Practices, Compliance of Laws in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders i.e. shareholders, management, employees, customers, vendors, regulators and the community at large. Your Company places prime importance on reliable financial information, integrity, transparency, empowerment and compliance with the law, in letter and spirit.

The regulators have also emphasized on the requirement of good corporate governance practices in corporate management. Your Company also takes proactive approach and revisits its governance practices from time to time so as to meet business and regulatory requirements.

The provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to the Corporate Governance for the year 202122 has been provided in the Corporate Governance Report, which is attached here separately along with a Certificate from Practicing Company Secretary on compliance with corporate governance norms, and forms part of the Annual Report.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Board of Directors of the Company has optimum combination of executive and non-executive directors including independent directors and woman directors in compliance with the provisions of the Companies Act, 2013 ("the Act") and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations").

During the year under review, the following changes were taken place in the Directors and Key Managerial Personnel of the Company:

- Mr. Devashish Mehta was re-appointed as Managing Director for further term of five years w.e.f. 19^th July, 2021.

- Mrs. Sakshi Kaura was re-appointed as Joint Managing Director for the further term of five years w.e.f. 1^st June, 2021.

- Mr. Deep kapuria, Non-Executive Independent Director resigned w.e.f. 1^st August, 2021 cited that due to other professional and personal commitments, he is unable to devote sufficient time to Omax.

- Mr. Ram Kumar Chugh, was appointed as NonExecutive Independent Director for the term of five years w.e.f. 14^th August, 2021.

- Mr. Ravinder Singh Kataria, Company Secretary of the Company has resigned w.e.f. w.e.f. closing of Business Hours of September 22, 2021.

- Mr. Mohit Srivastava was appointed as a Company Secretary w.e.f. March 16, 2022.

In terms of the provisions of the Act and Article of Association of the Company, Mr. Jatender Kumar Mehta (DIN: 00028207), shall retire by rotation at the ensuing Annual General Meeting and being eligible, have offered himself for re-appointment. The Board recommends for his re-appointment in the ensuing Annual General Meeting of the Company.

The Company has received declarations from all the Independent Directors of the Company confirming that they continue to meet the criteria of independence, as prescribed under Section 149 of the Act read with rules made there under and Regulations 16 & 25 of the Listing Regulations. The Independent Directors have also confirmed that they have complied with the Company's code of conduct. In the opinion of the Board of Directors of the Company, all Independent Directors of the Company have integrity, expertise, experience as prescribed under the Companies (Appointment and Disqualification of Directors) Rules, 2014 read with the Companies (Accounts) Rules, 2014 (including amendment thereof).

All Directors of the Company have also given declarations that they are not debarred from holding the office of Director by virtue of any SEBI order or any other such statutory authority as required under the Circular dated 20^th June, 2018 issued by BSE Limited and National Stock Exchange of India Limited.

Board Diversity and Policy on Director?s Appointment and Remuneration

The Company believes that building a diverse and inclusive culture is integral to its success. A diverse Board will be able to leverage different skills, qualifications, professional experiences, perspectives and backgrounds, which is necessary for achieving sustainable and balanced development. The Board has adopted a policy on ‘Nomination and Remuneration' for selection and appointment of Directors, Senior Management including Key Managerial Personnel's and other Senior Management and their remuneration, which sets out the criteria for determining qualifications, positive attributes and independence of a Director. The Salient features of the policy are mentioned in the Corporate Governance Report which forms part of this report.

The detailed policy is available on the Company's website at https://www.omaxauto.com/Codes-Policies. aspx .

Annual Board Evaluation and Familiarization Programme for Board Members

The Nomination and Remuneration Committee has put in place a framework for evaluation of the performance of the Board, Board Committees and individual Directors including Chairperson. Customized forms were circulated, responses were analyzed and the results were subsequently discussed by the Board. Recommendations arising from this entire process were deliberated upon by the Board to be used constructively to further enhance its effectiveness. A detailed update on the Performance Evaluation is provided in the report on Corporate Governance which forms part of this report.

A note on the familiarization programme adopted by the Company for orientation and training of the Directors and the Board evaluation process undertaken in compliance with the provisions of the Act and the Listing Regulations is provided in the Report on Corporate Governance, which forms part of this Report.

Committees of Board, Number of Meetings of the Board and Board Committees

During the year under review, 9 (Nine) meetings of the Board of Directors were held respectively on 22/06/2021, 14/08/2021, 07/10/2021, 28/10/2021, 13/11/2021,

04/12/2021/ 04/02/2022, 14/02/2022 and 16/03/2022.

During the financial year ended 31^st March, 2022, all the recommendations of/submissions by the Committees which were mandatorily required, were accepted by the Board. The Committees of the Board are as follow:-

a) Audit Committee

b) Nomination and Remuneration committee

c) Stakeholders Relationship Committee

d) Executive Committee

Details of Board Meetings and Committee Meetings and attendance thereof is disclosed in the Corporate Governance Report attached separately to this report.

DIRECTORS? RESPONSIBILITY STATEMENT

In terms of the provisions of the Companies Act, 2013 the Board of Directors of your Company confirm that—

(a) in the preparation of the annual accounts for the Financial year ended March 31,2022, the applicable accounting standards had been followed along with proper explanation relating to material departures, though there is no material departure;

(b) the directors 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 ended March 31,2022 and of the profit/(loss) of the company for that period;

(c) the directors 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;

(d) the directors had prepared the annual accounts for the Financial year ended March 31,2022 on a going concern basis;

(e) the directors, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

(f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

VIGIL MECHANISM

The Company is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations. The Company has established a vigil mechanism and has adopted the "Vigil Mechanism/ Whistle Blower Policy". As per the policy objective, the Company encourages its employees who have concerns about suspected misconduct, to come forward and express these concerns without fear of punishment or unfair treatment. A vigil mechanism provides a channel to the employees and directors to report to the management concerns about unethical behaviour, actual or suspected fraud or violation of the Codes of conduct or policy. The mechanism provides for adequate safeguards against victimization of employees and directors to avail the mechanism and also provide for direct access to the Managing Director/Chairman of the Audit Committee in exceptional cases. Such policy is available on the website of the Company i.e. https://www.omaxauto.com/ Codes-Policies.aspx.

During the financial year under review, no person has been denied access to the Managing Director/Chairman of the Audit Committee.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

As a good corporate citizen, the Company understands the significance of inclusive growth and wellbeing of all stakeholders, including the society at large. Your Company has been taking initiatives under Corporate Social Responsibility (CSR) for society at large, well before it was prescribed under the Act. The Company has a well-defined Policy on CSR as per the requirement of Section 135 of the Act which covers the activities as prescribed under Schedule VII of the Act.

During the year under review, due to loss suffered by the Company in the previous year, there is no liability on the company to spend on Corporate Social Responsibility Activities. However, during the year, Company has spent an amount which was related to ongoing project of previous year and left unspent.

The details about the policy developed and implemented by the Company on Corporate Social Responsibility initiatives taken during the year as required under clause (o) of sub-section (3) of the Section 134 of the Act are provided in the CSR Annual Report in terms of Rule 8 of the Companies (Corporate Social responsibility) Rules, 2014, which is attached as Annexure-1 and forms part of this report.

DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY

The Board of Directors of the Company has adopted a policy as the Risk Management Policy of the Company with main objective to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. The Board continuously identifies various risks to which the Company is subject to and which in the opinion of the Board may threaten the existence of the Company.

The implementation and monitoring of this policy is currently assigned to the Audit Committee of the Board. Though the Board is striving to identify various elements of risk, however, in the opinion of the Board, there has been no element of risk which may threaten the existence of the Company.

AUDITORS Statutory Auditor

In terms of the provisions of Section 139 of the Companies Act, 2013, M/s. BGJC Associates LLP, Chartered Accountants (Firm Registration No. 003304N), were appointed as Statutory Auditor of the Company at the 34^th Annual General Meeting (AGM) to hold office till the conclusion of 39^th AGM of the Company.

M/s. BGJC Associates LLP, Chartered Accountants (Firm Registration No. 003304N), are eligible to continue as the Statutory Auditors of the company for another term in accordance with the provisions of the Act read with rules made thereunder and applicable laws. Accordingly, the Board of Directors of the Company has recommended the re-appointment of M/s. BGJC Associates LLP, Chartered Accountants as Statutory Auditors of the Company.

Secretarial Auditor

In terms of Section 204 of the Act read with the rules made thereunder, and upon the recommendation of the Audit Committee, the Board of Directors has to appoint Secretarial Auditors for the financial year 2022-23 as M/s. Chandrasekaran Associates, Company Secretaries will hold office only up to ensuing Annual General Meeting of the Company as the Secretarial Auditors of the Company to conduct Secretarial Audit.

Internal Auditors

In terms of Section 138 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014, the Board of Directors, on recommendation of the Audit Committee, has appointed M/s. M/s. Singhi Chugh & Kumar, Chartered Accountants, having FRN: 013613N and M/s. JHS & Associates LLP (previously known N. Kochhar & Co.), having FRN:133288W, Chartered Accountants as Internal Auditors of the Company for the financial year 2022-23.

Cost Auditors

During the year under review, the turnover of the Company was more than the threshold as prescribed under Section 148 of the Act and rules made thereunder. For the Financial year 2022-23, the Company is required to make and maintain the Cost records as specified by the Central Government under sub-section (1) of section

148 of the Act.

The Board of Directors of the Company, on the recommendations made by the Audit Committee, has appointed M/s. JSN & Co., Cost Accountants (Firm Registration No. 000455) as the Cost Auditor of the Company to conduct the audit of the cost records for the financial year 2022-23. The remuneration proposed to be paid to the Cost Auditor, subject to ratification by the shareholders of the Company at the ensuing 39^th AGM, would not exceed Rs. 1,20,000 (One Lakh twenty thousand only) excluding taxes and out of pocket expenses, if any.

The Company has received consent from M/s. JSN & Co., Cost Accountants, (Firm Registration No. 000455) to act as the Cost Auditor for conducting audit of the cost records for the financial year 2022-23 along with a certificate confirming their independence and arm's length relationship.

AUDITORS? REPORT Statutory Audit Report

M/s. BGJC Associates LLP, Chartered Accountants (Firm Registration No. 003304N), Statutory Auditors of the Company have submitted their reports on the financial statements of the Company for the financial year ended 31^st March, 2022. There has been no observation or comment of the auditors on financial transactions or matters which has any adverse effect on the functioning of the company; further, there is also no qualification, reservation or adverse remarks in the Auditors' Reports on the financial statement of the Company for the financial year ended 31^st March, 2022.

Further, the auditors have not reported any fraud under Section 143(12) of the Act for the financial year 2021-22.

Secretarial Audit Report

In terms of Section 204(1) of the Act, a Secretarial Audit Report, given by M/s. Chandrasekaran Associates, the Secretarial Auditor of the Company, in prescribed form has been annexed as Annexure-2 hereto and forms part of this Report. It is clarified as mentioned in their report for the financial year ended 31 ^st March, 2022:

1. During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. as mentioned above except delay filing of few forms with the Registrar of Companies and the followings:

Reply: Delay in filing of certain E-forms was due

to controlled factors but the Company will take care in avoiding such instances in the future.

2. The re-appointment of Mrs. Sakshi Kaura (DIN: 02094522) as Joint Managing Director was approved by the Board of Directors in their Board

Meeting dated 22th June, 2021 with retrospective effect i.e. with effect from June 01,20221. In the 38^th Annual General Meeting (‘AGM'), the shareholders of the Company, on the recommendations of Board of Directors, had approved the re-appointment of Ms. Sakshi Kaura (DIN: 02094522) as Joint Managing Director of the Company with effect from 01^st June, 2021.

Reply: The re-appointment of Mrs. Sakshi Kaura

(DIN: 02094522) as Joint Managing Director was made by the Board of Directors retrospectively because during 1^st June 2021 to 21^st June, 2021, the Board Meeting could not be held due to limitations which were faced by the company. However, she was appointed by Board of Director and said appointment was also approved by shareholders in 38^th Annual General Meeting of the Company.

3. The Board of Directors had not made the revision in Board Report for the financial year 2020-21 while approving the revisions in Corporate Governance Report. Accordingly, e-Form MGT-14 is not filed in this respect.

Reply: The Board of Directors of the Company had approved the Board Report for financial year 2020-21 along with all annexures including Corporate Governance Report and MGT-14 was filed for the purpose of approval of said Board Report. Thereafter, there were minor changes in the Corporate Governance Report only and revised Corporate Governance Report was again approved by the Board of Directors of the Company in its meeting held on 13/11/2021. It is submitted that since there were only minor changes in the Corporate Governance Report and no change was there in other annexures of Board Report and Board Report itself. Accordingly in view of the Company, MGT-14 for revised corporate governance report was not required to be filed.

4. The Company has not opened special account in any scheduled bank to be called the "Unspent Corporate Social Responsibility Account" for transferring unspent CSR amount, pertaining to its ongoing projects to such account within a period of thirty days from the end of the financial year.

Reply: The Company was required to transfer unspent fund of CSR relating to financial year 202021 in special bank account in the name of "Unspent Corporate Social Responsibility Account". However due to lockdown, Company could not open the same in the prescribed time period. Thereafter the company approached few banks to open the same but those Banks did not consider our request to open the said Bank Account. The Company has already spent that unspent fund during FY 2021-22

in respect of expenses related to Ongoing Project i.e. Saksham VI.

5. Pursuant to the provisions of Regulation 30 and 47 of SEBI Listing Regulations, the following intimations/disclosures has been intimated delayed/ not intimated to the stock exchanges:

(i) Financial results for quarter ended June 30, 2021 was approved by the Board on 14th August, 2021 and was published in Newspaper on 17^th Newspaper publication made pursuant to dispatch of Postal Ballot Notice dated February 4, 2022.

Reply: The Financial results for quarter ended June, 2021 were approved by Board of Director on 14^th August, 2021 and same were published on 17^th August, 2021. This delay took place due to uncontrolled factors like national holiday as well as Sunday immediately after the date of Board meeting. However, the necessary actions were taken and said publication was made on 17^th August, 2021.

(ii) No Disclosure was made to Stock Exchange made regarding Selling of land and building situated at Dharuhera.

Reply: Since there was no Company Secretary with the Company during the said event, the timely disclosure to the concerned Exchanges couldn't be made.

(iii) Delayed in submission of Notice of Postal Ballot dated February 4, 2022.

Reply: The Notice of Postal Ballot was approved in Board Meeting dated February 4, 2022 and Company made submission regarding said Notice to Stock Exchanges on 7^th February 2022 but due to human error, notice of Postal Ballot could not be enclosed with Covering letter. However, when company get realized about this human error, immediately notice was submitted to stock exchange dated 10^th February, 2022.

(iv) Delayed in submission of the Newspaper publication made pursuant to dispatch of Postal Ballot Notice dated February 4, 2022. The Publication was made on 8^th February, 2022 and the intimation was given on 11^th February, 2022.

Reply: The intention of the Company is to comply with the applicable law in spirit and therefore, company is always focusing on good governance. The delay in intimation to stock exchange regarding publication in newspaper took place due to human error but corrective actions were taken immediately and intimation was made to stock exchanges.

Events/Actions:

The Company has made default in making repayment of interest free Loan availed from Pradeshiya Industrial And Investment Corporation of Uttar Pradesh Limited under the Industrial Investment Promotion Scheme (IPS) of 2003. The necessary disclosures for the same was made to Stock Exchange in terms of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21,2019.

Reply: the Disastrous COVID-19 has impacted the economy of the country very badly and our company was also not untouched from the effects of COVID 19. Company suffered huge losses in 2020-21 and faced liquidity crises. And due to these uncontrolled factors, the Company could not make repayment on time, of Interest free loan to Pradeshiya Industrial And Investment Corporation of Uttar Pradesh Limited. Company had made necessary disclosures to stock exchanges regarding this event. However, Company has already made payment of said interest to Pradeshiya Industrial And Investment Corporation of Uttar Pradesh Limited.

Further, the auditors have not reported any fraud under Section 143(12) of the Act for the financial year 2021-22

Cost Audit Report

M/s. JSN & Co., Cost Accountants (Firm Registration No. 000455), Cost Auditors of the Company have submitted their reports on the cost records of the Company for the financial year ended 31 ^st March, 2022. There has been no qualification, reservation or adverse remarks in the Auditors' Reports on the cost records of the Company for the financial year ended 31 ^st March, 2022.

Further, the auditors have not reported any fraud under Section 143(12) of the Act for the financial year 2021-22.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any subsidiary company or joint venture or associate company. There was no company which had become or ceased to be the subsidiary, joint venture or associate company of the Company during the year under review.

DEPOSITS

During the year under review, the Company had not invited or accepted any deposits from public under Chapter V of the Act and the Rules made thereunder. Further, no deposits are outstanding on the end of financial year 2021-22

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS/ COURTS/ TRIBUNALS

There has been no significant and material order passed by any regulator, courts or tribunals impacting the going concern status and operations of the Company in future.

INTERNAL FINANCIAL CONTROLS

The Company has established a framework for internal financial controls. The Company has in place adequate controls, procedures and policies, ensuring orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information. During the year under review, such controls were assessed and no reportable material weaknesses in the design or operation were observed. Accordingly, the Board is of the opinion that the Company's internal financial controls were adequate and effective during financial year 202122.

LOANS, GUARANTEES AND INVESTMENT

During the financial year under review, the Company has not given any loan or guarantee or security in connection with a loan or made any investment in terms of Section 186 of the Companies Act, 2013.

RELATED PARTY TRANSACTIONS

During the year under review, the Company has entered into transactions with related parties falling under the purview of Section 188 of the Act. All the transactions with the related parties were in ordinary course of business and on arm's length basis, therefore the Company is not required to give details of related party transactions in Form AOC-2. All transactions with related parties were duly reviewed by the Audit Committee of the Board.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE OUTGO

In terms of Section 134(3)(m) of the Act read with Rule 8 of Companies (Accounts) Rules, 2014, a statement containing details of conservation of energy, technology absorption, foreign exchange earnings and outgo, in the manner as prescribed under the Companies (Accounts) Rules, 2014, is given in Annexure - 3 hereto and forms part of this Report.

DISCLOSURE OF PRESCRIBED DETAILS

OF DIRECTORS? REMUNERATION VIS-A-VIS

EMPLOYEES REMUNERATION

In terms of Section 197(12) of the Act read with Rule 5(1), 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the ratio of the remuneration of each director to the median employee's remuneration and such other details as are required under such rules are attached separately as Annexure - 4, which forms part of this report.

ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return in Form MGT-7 as on March 31,2022 is available on the Company's website.

SEXUAL HARASSMENT OF WOMENAT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place a Policy on Prevention of Sexual Harassment at the Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 ("PoSh"). The Company has constituted an Internal Complaints Committee to redress complaints received regarding sexual harassment at the workplace.

ENVIRONMENT HEALTH AND SAFETY (EHS)

Your Company is committed for adhering to best Environmental, Safety & Health Practices during its manufacturing processes. It targets to achieve 100% Environmental Legal compliances with 100% customer's satisfaction along with continuous trainings and awareness programs on different Environmental Burning Issues from time to time. In order to ensure effective implementation of OMAX's EHS Policy, the same is systematically communicated across all the levels and the employees are trained from time to time to not only build commitment at their levels but also encourage them to be effective promoters of this philosophy and take EHS as one of their key roles in day to day functioning. Environment, Health and Safety programs in the organization is the prime focus of top management to make safe and healthy work environment. The EHS programs protect the environment, conserve the natural resources, provide safe and healthy conditions for work, and comply with applicable laws and regulations.

The Company is committed for adopting Zero Incident free work environment by following continuous workplace and classrooms trainings, work permit systems, third party safety audits and stringent safety standards in the workplace. Safety and health compliances, start from our gates and occupy the topmost position in the yearly goals of the Company.

The Company targets to maintain minimum Zero Severity Rate and Frequency Rate to achieve Zero injury. All safety compliances being monitored via In-house and third party monthly safety audits to know least nonconformance to ensure our 100% safety compliances for our employees, associates and machinery to improve productivity. A dedicated EHS team is available in each unit under guidance of corporate EHS on day-to-day basis.

All EHS activities are monitored by monthly EHS MIS review mechanism with allocation of sufficient resources under separate cost centre for better accountability. The Company is also dedicated to save our precious natural resources with conservation of water by recycling our effluent after treatment by installing Reverse Osmosis Plants. For continuous monitoring and to operate our all ETPs at highest efficiency, we have established dedicated ETP Labs at all major locations with dedicated

ETP Chemists to achieve and fulfil our commitment towards Zero Liquid Discharge. The Company's strength is Employee engagement and under this, celebrations of Environment and Safety Day, Fire & Mock Drills, EHS awareness training programs covering all employees and associates under scheduled classroom and floor level training are conducted. EHS Legal Compliance training programs are organized for all senior and middle management for better understanding throughout the year to create more vibrant environment amongst the employees so that each & every employee takes the responsibilities & guides others about non polluted environment. The Company also ensures 100% disposal of all generated Hazardous wastes as per Pollution Control guidelines. The Company has also started disposal of E-waste to authorized re-cyclers.

PROCEEDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

The Company has not made any application or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) ("IBC Code") during the year. Further, at the end of the year, Company does not have any proceedings related to IBC Code.

THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

During the year under review, the Company has not made one time settlement therefore, the same is not applicable.

WEBLINK TO IMPORTANT DOCUMENTS/ INFORMATION:

The Company has hosted certain policies/documents/ information, including inter alia, Policy for determining ‘Material Subsidiaries' Policy on dealing with Related Party Transactions, Familiarization programmes for Independent Directors etc. as per the requirement of law or otherwise.

Following link could be used for accessing such polices/ documents/information:

https://www.omaxauto.com/Codes-Policies.aspx _

COMPLIANCE OF SECRETARIAL STANDARDS ISSUED BY ICSI

During the financial year 2021-22, the Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively.

ACKNOWLEDGEMENT / APPRECIATION

The Directors wish to convey their appreciation to business associates for their support and contribution during the year. The Directors would also like to thank the employees, shareholders, customers, suppliers, alliance partners, bankers and government agencies for the continued support given by them to the Company and their confidence reposed in the management. We look forward for your continued support in the future.