Your Directors have pleasure in presenting the 53^rr Annual Accounts of the Company for the Financial
Year ended 31st March 2025,

FINANCIAL HIGHLIGHTS

The Company's financial performance, for the year ended 31st March, 2025 and 31st March, 2024 is
summarized below:-

Rs.Lacs

OPERATIONS AND STATE OF AFFAIRS OF THE COMPANY:

As the Company has just come out of CIRP and is under revamping., the Company did not have any
business activity during the period under report and the period ended with a profit of Rs. 36 lakhs as
compared to the previous year Profit of Rs, 1319lakhs (considering waiver/ relief under IBC).

DIVIDEND & TRANSFER TO RESERVE:

During the year under review, due to accumulated losses, no dividend on the equity shares of the
Company has been recommended and no amount is proposed to be transferred to the reserves.

STATUS OF CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP)

The Resolution Plan has been fully implemented and the Compliance IA filed before NCLT Hyderabad
bench was approved on 06,06.2024. Thus the Corporate Insolvency Resolution Process is fully
completed in all respects.

SHARE CAPITAL:

As per the terms of the approved Resolution Plan, the existing paid-up equity share capital of the
company was reduced from 74,89,880 equity shares of Rs.10 each amounting to Rs. 7,48,98,800 to
74,898 equity shares of Rs.10 each amounting to Rs.7,48,980 and fresh equity shares to the
successful Resolution Applicants to the extent of 84,20,000 equity shares of Rs.10 each amounting to
Rs. 8,42.00,000 were issued, The Company submitted an application to Bombay Stock Exchange (BSE)
for approval of Capital Reduction and Listing of new shares issued as per the approved Resolution
Plan of NCLT under IBC BSE has directed the Company to incorporate a minimum of 5% public share
holding in the approved Resolution Plan as required under the Securities Contracts (Regulation)
(Amendment) Rules 2021. Accordingly the Company filed an application before NCLT Hyderabad
Bench for incorporation for the said clause in the approved Resolution Plan as directed by BSE.

NCLT approved the application on 10.09.24 and the earlier shareholding of 74,89,880 equity shares
was reduced to 4,43,158 shares (excluding erstwhile promoters). The share holdings of erstwhile
promoters were completely extinguished. The Company filed requisite forms with the Registrar of
Companies (ROC), Hyderabad for the above reduction/canceliation of existing equity share capital
and also fresh issue of equity shares to the successful Resolution Applicants. ROC approved the above
and hence, the Paid-up equity capital of the company stands at 88,63,158 equity shares of Rs. 10
each amounting to Rs.886,31,530 as on date.

The Company made an application to BSE for listing which was approved by them vide Letter no. DCS
/ AMAL / TS / R37 - IBC / 3603 / 2025-26 dated: 30.04.2025. The Company executed the Corporate
Action for capital reduction and issue of fresh equity shares to new promoters and has now
submitted an application to BSE for trading approval which is under process.

Extract of Annual Return

As required under Section 134(3)(a) of the Act, the Annual Return for the financial year 2024-2S is put
up on the Company's website and can be accessed at httos://www.galadaoower,com. A copy of the
same is attached.

Particulars of Contracts or Arrangements with Related Parties

No contract /arrangement / transaction was entered by the Company during the financial year with
related parties. Your attention is drawn to Note 36 to the financial statements which sets out related
party disclosures

Auditors & Auditors Report

M/s. Brahmayya & Co., Chartered Accountants (Firm Registration No. 0O05135) has been appointed
as the Statutory Auditors of the Company for 5 years up to 2027-28 by the members in the Annual
General Meeting held on 29.12.2023, Requisite form was filed with RoC to give effect to the said
appointment.

Explanation to Auditor's Remarks

The Report of the Auditor is given as an annexure which forms part of the Annual Report. There were
no qualifications or adverse remarks made in the Auditors' Report. Hence, no comments under
Section 134 (1) of the Companies Act, 2013 are called for.

Material Changes affecting the Financial Position of the Company

Except as disclosed in this report., there were no material changes and commitments affecting the
financial position of the Company which have occurred between the end of the financial year and the
date of this report.

Details of Subsidiary, Joint Venture or Associates

The company has no subsidiaries, joint ventures or associate companies during the financial year
2024-25,

Consolidated Financial Statements

The Company doesn't have any subsidiaries. Hence, there is no need to prepare consolidated
financial statement for the financial year 2024-25.

BOARD OF DIRECTORS

The following are the Directors constituting the Board of the Company.

AUDIT COMMITTEE

The following Directors constitute the Audit Committee to comply with the provisions of Section 177
of the Companies Act, 2013

1. Smt. Kanneganti Ramalakshmi, a Promoter Director

2. Mr. Snehal Shantilal Mehta, an Independent Director

3. Mr. Thiyagarajan Loganathan, an Independent Director.

Mr. Snehal Shantital Mehta is the Chairman of the Audit Committee.

DECLARATION OF INDEPENDENT DIRECTORS:

The requisite Declarations are submitted by the Directors and taken on record by the Board,

NUMBER OF BOARD MEETINGS CONDUCTED DURING THE PERIOD UNDER REVIEW:

The Board Meetings were held on 30.05.2024, 12.08.2024, 12.09.2024, 14.11.2024 and 14.02.2025.
Alt the Directors attended the meeting.

BOARD EVALUATION

The Board was evaluated as required under the Companies Act 2013.

APP0INTMET OF DIRECTORS

Mr. Snehal Shantilal Mehta, Director retires by rotation and being eligible, offers himself for Re¬
appointment in the ensuing Annual General Meeting of the Company.

BUSINESS RESTRUCTURING

The machineries at Silvassa are totally in unusable condition and beyond revamping there is no
advantage in establishing new facilities at Silvassa and logistics are also not favorable. Considering
these, the Board decided to sell the assets at Silvassa and focus at Up pal, Hyderabad where logistics
are favorable and viability is much better

DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNAL

Except as disclosed in this report, no orders have been passed by the Regulators or Courts or
Tribunals impacting the going concern status and the Company's operation.

CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY

The Company is not required to constitute a Corporate Social Responsibility Committee as it does not
fall within purview of Section 135(1) of the Companies Act, 2013 and hence it is not required to
formulate policy on corporate social responsibility.

Litigation and Debt:

With the settlement of all stake holders as stated in the approved Resolution Plan, your Company is a
"DEBT FREE COMPANY'' as on date without any charge whatsoever on the assets of the Company.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 134 (S) of the Act with respect to Director's
Responsibility Statement, it is hereby confirmed that

!. In the preparation of Annual Accounts, the applicable Accounting Standards have been
followed and maximum care has been taken to ensure that there has been no material
departure, to the extent possible

II. To the extent possible, the accounting policies have been selected and these have been
applied consistently and judgments and estimates made thereon are reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company as at 31st
March, 2025 and of the profit/loss for the year ended on that date.

II!. To the extent possible, 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.

IV. Annual accounts of the Company have been prepared on a going concern basis,

V. To the extent possible, internal financial controls have been laid down to be followed by
the Company and to the best of our knowledge such internal financial controls were
adequate and operating effectively,

VI. To the extent possible, proper systems have been devised to ensure compliance with the
provisions of all applicable laws and to the best of our knowledge such systems were
adequate and operating effectively

COST RECORD

The Provisions of Section 148(1) of the Act are not applicable to the Company and accordingly, the
Company has not maintained cost accounts and records for the year ended March 31, 2025.

SECRETARIAL AUDIT & SECRETARIAL COMPLIANCE REPORT

Pursuant to the provisions of Section 204 of the Act read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board appointed M/s S. V, Achary ft Co,
Company Secretaries in Practice, to undertake the Secretarial Audit of the Company. There is no
qualification, reservation or adverse remark made in their Secretarial Audit Report submitted to the
Company. The Secretarial Audit Report is attached herewith as Annexure l.

CORPORATE GOVERNANCE

The Company is exempted from "Corporate Governance Report as the paid-up equity share capital
is less than Rs 10 crores and net-worth is less than Rs 25 crores in terms of clause 15(2) of SE3I
(Listing Obligations and Disclosure Requirements) Regulations 2015 as amended from time to time.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Provisions of Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 (the Rules), as amended, regarding
particulars of the employees drawing remuneration in excess of the limits set out in the said Rules are
not applicable to the Company,

Compliance with Provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) ACT, 2013

The Company is committed to uphold and maintain the dignity of women employees and it has in
place a policy which provides for protection against sexual harassment of women at work place and
for prevention and redressal of such complaints. During the year no such complaints was received.

The Company has also constituted an Internal Compliance Committee under the Sexual Harassment
of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 .

GENERAL

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

i! Details relating to deposits covered under Chapter V of the Act

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

3. Issue of shares (Including Sweat Equity Shares) to employees of the company under any
scheme

4. Neither the Managing Director nor the Whole Time Director of the company has received any
commission from the company.

ACKNOWLEDGEMENT:

The Board of the Company would like to express sincere appreciation for the cooperation and
assistance received from shareholders, hankers, regulatory bodies, employees and other business
constituents & stakeholders during the year under review.

For and on behalf of Galada Power &Telecommunication Limited
Sd/-

K Ramalaksmi
Director

DATE: 30.O5,25