డైరెక్టర్ల నివేదిక Crysdale Industries Ltd.

Mar 31, 2025

Your directors have pleasure in presenting their 39^th Annual Report on the business performance and operations of the Company Crysdale Industries Limited (Formerly known as Relson India Limited/ along with the Audited Financial Statements for the financial year ended March 31, 2025 (‘the Year’ or ‘FY 2025’).

1. Financial summary or highlights/performance of the company:

The Company’s performance during the financial year under review as compared to the previous financial year is summarized below:

(Amount in Lakhs)
Particulars	Standalone		Consolidated
	2024-25	2023-24	2024-25	2023-24
Revenue from Operations	4.30	-	4.30	-
Other Income	0.26	10.26	0.26	-
Total Revenue	4.56	10.26	4.56	-
Total Expenses	23.65	20.47	23.93	-
Profit/Loss Before Tax	(19.09)	(10.22)	(19.37)	-
Less: Current Tax	-	-	-	-
Less: Provision for Income Tax	-	-	-	-
Less: Deferred Tax	-	-	-	-
Profit/Loss After Tax	(19.09)	(10.22)	(19.37)	-
Add: Amount of reserves brought from previous year	265.25	275.47	265.74
Balance carried to balance sheet	246.16	265.25	246.37	-

During the financial year 2024-25, the Company generated revenue of ? 4,29,581 from its operations and earned ? 26,441 as other income. This marks a significant improvement compared to the previous financial year, during which no operational revenue was recorded. However, the Company incurred a net loss of ? 19,08,984 in FY 2024-25, as against a loss of ?10,21,659 in the previous year.

During the financial year 2024-25, the consolidated revenue of ?4,29,581 from operational activities and ?26,441 as other income. As the Company did not have any operational revenue in the previous financial year, these figures mark the beginning of its business activities. The consolidated loss of ?19,37,406 in the financial year 2024-25, as against no loss in the previous year.

The Audited Financial Statements of your Company as on March 31, 2025, are prepared in accordance with the relevant applicable Ind AS and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and the provisions of the Companies Act, 2013 (“Act”).

2. Segment Performance:

The company''s operations are integrated, and therefore, it does not present separate reportable segments.

3. Dividend:

In light of the current economic conditions and the company''s cash requirements, the Board of Directors has chosen not to recommend a dividend for the financial year ending March 31, 2025.

4. Transfer to Reserves:

During the year, the Board has not transferred any amount to the Reserves of the Company.

5. Change in nature of business, if any:

During the financial year under review, there were no change(s) in the nature of the business carried out by the Company. The Company carried out the same business mentioned in the Memorandum of Association of the Company.

6. Subsidiary, Associate and Joint Venture Companies, their highlights of performance and their contribution to overall performance of the company:

''Wergreen Industries Private Limited'' has become the subsidiary with effect from July 31, 2024 of the Company.

A report on the performance and financial position of subsidiaries of your Company including capital, reserves, total assets, total liabilities, details of investment, turnover, etc., pursuant to Section 129 of the Act is provided in Form AOC-1 as “Annexure I”, which forms an integral part of the Board’s Report.

The Company does not have any JVs or Associate Companies during the year or at any time after the closure of the year and till the date of this Annual Report.

7. Share Capital and Listing:

The paid-up equity capital as on March 31, 2025 was ?165.00 Lakhs. The Company is listed on BSE Limited and as on date all the Equity Shares of the Company are in physical form. The Company''s equity shares have been suspended from trading by BSE Limited, where the company is listed. However, the Company has already applied for revocation of the suspension, submitting the required fees and necessary information to BSE.

8. Name Change:

The Company has changed its name from “Relson India Limited” to “Crysdale Industries Limited” approved by members in the Extra-Ordinary General Meeting held on April 04, 2024, by Registrar of Companies (ROC-Mumbai) on June 06, 2024 and by Bombay Stock Exchange (BSE) on June 20, 2024.

9. Web-link for Annual Return:

Pursuant to the provisions of Section 92(3) and Section 134(3)(a) of the Companies Act, 2013, the Annual Return is available on the website of the Company at https: / /relsonindia.com. By virtue of amendment to Section 92(3) of the Companies Act, 2013, the Company is not required to provide extract of Annual Return (Form MGT-9) as part of the Board’s report.

In terms of section 131 of the Companies Act, 2013, the Financial Statements and Board’s Report follow the provisions of section 129 or section 134 of the act and that no revision has been made during any of the three preceding Financial Years.

11. Deposits:

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet. However, company is having unsecured loan from Directors of the company for which proper declaration has been furnished by them as required under Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period under review.

12. Material changes and commitments:

There were no Material changes affecting the financial position of the Company which have occurred during the reporting period. However, after the reporting period, following change has been done:

The Company has changed its Registered Office from “307 Janki Centre, Plot No 29, Shah Industrial Estate, Veera Desai Road, Mumbai- 400053” to “S7 - 13, 7th Floor, B wing Pinnacle Business Park, Mahakali Caves Road, MIDC, Andheri East, Chakala MIDC, Mumbai 400093” in the Board Meeting held on May 29, 2025.

13. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company’s operations in future:

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Company’s operations in future. BSE Limited, stock exchange where the company is listed has suspended the trading of Company’s Equity Shares.

14. Directors’ Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that:

a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) Company has 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 and of the profit and loss of the company for that period;

c) Company has 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) Company has prepared the annual accounts on a going concern basis;

e) proper internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and were operating effectively; and

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

15. The composition of Board of Directors and KMP of the Company as on March 31, 2025 is as follows:

Sr. No.	Name of Director	DIN/PAN	Date of Appointment	Designation
1.	M r. Rajiv Gupta	01116868	November 14, 2017	Director
2.	M s. Swati Sahukara	06801137	June 07, 2023	Director
3.	M s. Pooja Agrawal	10244119	July 20, 2023	Independent Women Director
4.	Mr. N arendrakumar Badrinarayan Patel	08467505	March 22, 2024	Independent Director
5.	M s. Meenal Baid Jain	ALHPB8920 G	June 07, 2023	Chief Financial Officer
6.	M r. Kapil Dhawan	BBAPD8593 B	June 07, 2023	Chief Executive Officer
7.	M s. Kavita Ashok Jain	ARNPJ3755B	December 05, 2023	Company Secretary & Compliance Officer

16. Changes in Directors and Key Managerial Personnel:

There is no change in the composition of Board during the period under review, except Mr. Rajiv Gupta has been re-appointed, who retired by rotation in the 38 ^th Annual General Meeting held on 27^th September, 2024.

Further, Ms. Swati Sahukara (DIN: 06801137), Director retiring by rotation in ensuing Annual General Meeting and being eligible offers herself for re-appointment.

17. Number of Meetings of the Board of Directors and Attendance:

For the financial year in review, the Board of Directors had 07 (Seven) Board Meetings which were in compliance with the relevant provisions of all the applicable laws and rules. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and Secretarial Standards-I. The dates of the Board Meetings were: May 30, 2024; June 26, 2024; August 13, 2024; August 31, 2024; November 14, 2024; January 22, 2025 and February 12, 2025:

Name of Director	Meeting held during tenure	Meeting attended during tenure	Attendance at the last AGM held on 27th September, 2024
Mr. Rajiv Gupta	07	07	Yes
Ms. Swati Sahukara	07	07	Yes
Ms. Pooja Agrawal	07	07	Yes
Mr. NarendraKumar Badrinarayan Patel	07	07	Yes

18. Declaration by an Independent Director(s) and re- appointment, if any:

All the Independent Directors of your Company have submitted requisite declarations confirming that they continue to meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI Listing Regulations. The

Board is of the opinion that the Independent Directors of the Company including those appointed during the year possess requisite qualifications, expertise and experience in the varied fields and holds highest standards of integrity.

The Independent Directors have also confirmed that they have complied with the Company’s Code of Conduct for Board and Senior Management as per Regulation 26(3) of SEBI Listing Regulations.

The Independent Directors affirmed that none of them were aware of any circumstance or situation which could impair their ability to discharge their duties in an independent manner.

19. Disclosure of Declaration for Disqualifications by Directors:

During the year under review, none of the Directors on the Board were disqualified under Section 164(2) of the Act. The Company has received declarations from all Directors confirming that they are not disqualified to act as Directors under any applicable laws.

20. Separate Meeting of Independent Directors:

As mandated by Clause VII of Schedule IV of the Companies Act, 2013, a separate meeting of Independent Directors was held on 12^th February, 2025. The Independent Directors in the said meeting has reviewed the performance of Non-Independent directors and Board as a whole including the performance of the Chairperson of the company after accounting the views of executive directors and non-executive directors and also assessed the quality, quantity and timeliness of flow of information between the management of the listed entity and the board of directors that is necessary for the board of directors to effectively and reasonably perform their duties.

21. Performance Evaluation & Nomination and Remuneration Policy:

Pursuant to section 134(3)(p) of Companies Act 2013 and rule 8(4) of Companies (Accounts) Rules, 2014 and clause 17(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an evaluation of its own performance, the directors individually as well as the evaluation of its Committees as per the criteria laid down in the Nomination, Remuneration and Evaluation policy. The said policy available on the Company’s website i.e. www.relsonindia.com.

22. Details in respect of adequacy of internal financial controls with reference to the Financial Statements:

As a part of the effort to evaluate the effectiveness of the internal control systems, your Company''s internal audit system reviews all the control measures on periodic basis and recommends improvements, wherever appropriate. The Company has in place adequate internal control systems and procedures commensurate with the size and nature of its business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protections of resources and safeguarding of assets against unauthorized use. The management regularly reviews the internal control systems and procedures.

23. Statutory Auditors:

The present Statutory Auditors M/s JMMK & Co, Chartered Accountants, (ICAI Firm Registration No: 120459W) appointed in the 37^th Annual General Meeting (“AGM”) held during the year under review for a term of five consecutive years i.e., up to 42^nd AGM as Statutory Auditors of the Company. The Statutory Auditors have confirmed that they are not disqualified and are eligible to hold office as Statutory Auditors of your Company. Representative of the Statutory Auditors of your Company attended the previous AGM.

The observation made in the Auditors'' Report read together with relevant notes thereon are self-explanatory and hence, do not call for any further comments under Section 134 of the Companies Act, 2013 and does not contain any qualification, reservation or adverse remark or disclaimer. Further no fraud has been reported by the auditors under sub section (12) of section 143 of the Companies act, 2013.

24. Cost Auditors

The Company is not required to maintain cost records and conduct cost audit in accordance with Section 148(1) of the Act read with Rule 3 of the Companies (Cost Record and Audit) Rules, 2014 as the business of the Company is not covered under the said rules and limits.

25. Secretarial Auditor:

Pursuant to provisions of section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed CS Nitesh Chaudhary, Proprietor of M/s. Nitesh Chaudhary & Associates, Practicing Company Secretaries, to undertake the Secretarial Audit of the Company for the Financial Year 2024-25. The Report of the Secretarial Auditor for FY 2024-25 is annexed herewith as Annexure - A.

Further, the Board has recommended to appoint M/s. Nitesh Chaudhary & Associates, Practicing Company Secretaries as Secretarial Auditors of the Company for of the first term of five consecutive years, i.e., from FY 2025- 26 to FY 2029-30, subject to approval of the Shareholders of the Company at the ensuing Annual General Meeting.

26. Share Capital:

a) Issue of equity shares with differential rights:

The Company has not issued any shares with differential voting rights and accordingly the provisions of Section 43 read with Rule 4(4) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

b) Issue of sweat equity shares:

The Company has not issued any sweat equity shares and accordingly the provisions of Section 54 read with Rule 8(13) of the Companies (Share Capital and debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

c) Issue of employee stock options:

The Company has not granted stock options and accordingly the provisions of Section 62(1)(b) read with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

d) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit of employees:

The Company has not made any purchase or provision of its own shares by employees or by trustees for the benefit of employees during the financial year 202425.

e) Increase in Authorized Share Capital of Shares:

During the year, the Company did not undertake any increase in its Authorized Share Capital. The existing Authorized Share Capital remains unchanged.

f) Issue of Equity Shares:

During the year, the Company had made no issue of securities and had no variations or alterations in its Register of Members.

27. Conservation of energy and technology absorption:

As the Company is not a manufacturing Company, the Board of Directors has nothing to report on conservation of Energy and Technology absorption, Information required under section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014. However, concerned efforts to conserve energy continued throughout the year.

28. Foreign exchange earnings and outgo:

During the year under review, the Company has not entered into any foreign transactions. As a result, there were no foreign exchange earnings or outgo recorded during the financial year.

29. Corporate Social Responsibility (CSR):

As per the provisions of Section 135 of the Companies Act, 2013, the requirement to undertake Corporate Social Responsibility (CSR) activities is not applicable to the Company. Consequently, the Company is not obligated to carry out or report any CSR activities during the financial year.

30. Managerial Remuneration / Remuneration Policy:

The Board has framed a policy for selection and appointment of Directors, senior management and their remuneration.

31. Particulars of loans, guarantees or investments under Section 186:

The details of loans outstanding as on March 31, 2025 under Section 186 of the Companies Act, 2013 is provided in Note 4.3 to the Financial Statements.

During the year under review, your Company has made investment as follows:
Sr. No	Name of Company	Amount
1.	Wergreen Industries Private Limited	Rs. 51,000

32. Managerial Remuneration:

The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies (Particulars of Employees) Rules, 1975, in respect of employees of the Company and Directors is furnished hereunder:

1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year end:

None of the directors were paid any remuneration during the year.

2. The percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year;

Name of Director/CFO/CS	Designation	% increase/(decrease) in remuneration
Mrs. Meenal Baid Jain	Chief Financial Officer	66.67%
Mr. Kapil Dhawan	Company Secretary	66.67%
Ms. Kavita Ashok Jain	Chief Executive Officer	33.33%

The remuneration of the KMP''s is duly reviewed on annual basis keeping in mind the tenure, the past performance and current performance.

3. The percentage increase in the median remuneration of employees in the financial year was: Not Applicable

4. The number of permanent employees and Key Managerial Personnel on the rolls of Company as on 31.03.2025 was 3;

5. Average Percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof;

Remuneration paid to employees excluding managerial personnel for the 2023-24	Nil
Remuneration paid to employees excluding managerial personnel for the 2024-25	Nil
% Change in remuneration paid to employees excluding managerial personnel	NA
Remuneration paid to managerial personnel for the FY 2023-24	?5,46,000
Remuneration paid to managerial personnel for the FY 2024-25	?10,80,000
% Change in remuneration paid to managerial personnel	97.80%

* Mrs. Meenal Baid Jain and Mr. Kapil Dhawan were appointed on 07/06/2023 as Chief Financial Officer and Chief Executive Officer.

* Ms. Kavita Ashok Jain was appointed as the Company Secretary on 05/12/2023.

6. During the year no variable component of remuneration availed by Directors of the Company;

7. It is hereby affirmed that the remuneration paid by the Company to its Directors, KMP’s and Employees during the year under review is as per the Nomination & Remuneration Policy of the company.

8. None of the employee has received remuneration of Rupees Eight Lakhs and Fifty Thousand per month or Rupees One Crores Two Lakhs per year or at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company.

33. Particulars of contracts or arrangements with related parties under Section 188:

All contracts/arrangements/transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arm’s length basis. Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure II in Form AOC-2 and the same forms part of this report.

34. Whistle Blower Policy:

The Company has a Vigil Mechanism Policy to deal with instance of fraud and mismanagement, if any.

In staying true to our values of Strength, performance, and passion, and in line with our vision of being one of the most respected companies in India, the Company is committed to the high standards of Corporate Governance and stakeholder responsibility.

The vigil mechanism policy ensures that strict confidentiality is maintained whilst dealing with concerns and also that no discrimination will be meted out to any person for a genuinely raised concern.

35. Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

In order to prevent sexual harassment of women at work place under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the company has set up Internal Complaints Committee(s) to look into complaints relating to sexual harassment at work place of any women employee. Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. During the year under review the Company has neither received any complaint of harassment nor any complaints pending there under.

36. Compliance with Maternity Benefit Act, 1961:

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and rules framed thereunder. The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. During the year under review, there were no women employees who were required to be provided with maternity benefits under the Act.

The Company also ensures that no discrimination is made in recruitment or service conditions on the grounds of maternity. Necessary internal systems and HR policies are in place to uphold the spirit and letter of the legislation.

37. Business Risk Management:

The Company has implemented an integrated risk management approach through which it reviews and assesses significant risks on regular basis to ensure that a robust system of risk controls and mitigation is in place. Senior management periodically reviews this risk management framework to keep updated and addresses emerging challenges.

38. Committees

a. Audit Committee:

The Audit Committee reviews the audit reports submitted by Statutory Auditor, financial results, effectiveness of audit processes and the Company’s risk management strategy. It reviews the Company’s established systems and the

Committee is governed by a Charter which is in line with the regulatory requirements mandated by the Companies Act, 2013 and Regulation 18 read with part C of Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Committee met 4 (Four) times during the financial year on May 30, 2024; August 13, 2024; November 14, 2024 and February 12, 2025.

• Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/ Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	4/4
2.	Ms. Swati Sahukara	Member	4/4
3.	Ms. Pooja Agrawal	Member	4/4

b) Nomination and Remuneration Committee:

This Committee shall identify the persons, who are qualified to become Directors of the Company / who may be appointed in Senior Management in accordance with the criteria laid down, recommend to the Board a policy, relating to the remuneration of the Directors, Key Managerial Personnel and other employees.

The Remuneration policy as adopted by the Company envisages payment of remuneration according to qualification, experience and performance at different levels of the organization. The employees in the Company including those rendering clerical, administrative and professional services are suitable remunerated according to Industry norms.

During the financial year 2024-25, the Committee met 2 times on: August 31, 2024, and February 12, 2025.

• Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/ Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	2/2
2.	Ms. Swati Sahukara	Member	2/2
3.	Ms. Pooia Agrawal	Member	2/2

c) Shareholders/Investors Grievance Committee:

The Stakeholders Relationship Committee is constituted in accordance with Section 178 of the Companies Act, 2013 and applicable rules thereto and as per Regulation 20 of SEBI Listing Regulations.

The Committee met during the financial year on August 31, 2024.

• Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/ Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	1/1
2.	Ms. Swati Sahukara	Member	ALL
3.	Ms. Pooja Agrawal	Member	i/1

39. Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information (“Code”):

Pursuant to Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015 the Board of Directors has formulated and adopted the "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information" (Code of Fair Disclosure) of the Company.

40. Other Disclosures:

• The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable to your Company for the financial year ending March 31, 2025.

• No application was made or any proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the year in respect of your Company.

• There was no one time settlement of loan obtained from the Banks or Financial Institutions.

• The Company does not make payment to any Non-Executive Directors except sitting fee if, approved by the Board.

41. Depository:

Equity shares of the Company are in physical form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year 2024-25 has been paid by the Company to NSDL and CDSL.

42. Management Discussion and Analysis:

The Management Discussion and Analysis report has been separately furnished in the Annual Report and forms a part of the Annual Report as Annexure-III.

43. Report on Corporate Governance and Compliance Certificate:

As stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the requirement to provide a Report on Corporate Governance and a Compliance Certificate is not applicable to the Company during the year under review.

44. Code of Conduct

The Company has framed and adopted a Code of Conduct and Ethics (“the Code”). The Code is applicable to the members of the board, the executive officers and all employees of the Company. All members of the board and senior management personnel have affirmed compliance to the Code as on March 31, 2025. A declaration to that effect signed by the Chief Executive Officer is enclosed as Annexure-IV to this report.

45. Disclosure with respect to demat suspense account/ unclaimed suspense account:

The Company does not have any shares in the demat suspense account/ unclaimed suspense account.

46. Disclosure on confirmation with Secretarial Standards:

The Directors confirm that the Secretarial Standards issued by the Institute of Company Secretaries of India to be complied pursuant to the Companies Act, 2013 and rules made there under, have been duly complied with.

47. Acknowledgements:

Your directors appreciate and value the contributions made by every member of the Company and extend their sincere appreciation for the assistance and co-operation received from the bankers. Directors also place on record their deep sense of appreciation for the committed services by the Company’s executive and staff.

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Mar 31, 2024

Your directors have pleasure in submitting their 38^th Annual Report on the Company
Crysdale Industries Limited (Formerly known as Relson India Limited) on the business
and operations along with the audited financial statements for the financial year ended on
March 31, 2024.

1. Financial summary or highlights/performance of the company:

The Company’s financial performance as on March 31, 2024 is summarized as follows:

Particulars	For the year ended on March 31, 2024 (Rs.)	For the year ended on March 31, 2023 (Rs.)
Revenue from Operations	--	--
Other Income	10,25,755	14,76,751
Total Revenue	10,25,755	14,76,751
Total Expenses	20,47,094	10,08,502
Profit/Loss Before Tax	(10,21,339)	4,68,249
Less: Current Tax	--	1,10,965
Less: Provision for Income Tax	--	--
Less: Deferred Tax	--	--
Profit/Loss After Tax	(10,21,339)	3,57,284
Add: Amount of reserves brought from previous year	2,75,46,732	2,71,89,448
Balance carried to balance sheet	2,65,25,393	2,75,46,732

The Company has not carried on any business during the year and accordingly the
revenue from the operations has not been generated for the financial year 2023-24 and
2022-23. The Company has booked a loss in the financial year 2023-24 amounting to
Rs. 10,21,339/- as compared profit of Rs. 3,57,284/- in the financial year 2022-23.

The Audited Financial Statements of your Company as on March 31, 2024, are
prepared in accordance with the relevant applicable Ind AS and Regulation 33 of the
Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and the provisions of the
Companies Act, 2013 (“Act”).

2. Segment Performance:

The company''s operations are integrated, and therefore, it does not present separate
reportable segments.

3. Dividend:

In light of the current economic conditions and the company''s cash requirements, the
Board of Directors has chosen not to recommend a dividend for the financial year ending
March 31, 2024.

During the year, the Board has not transferred any amount to the Reserves of the
Company.

5. Change in nature of business, if any:

During the financial year under review, there were no change(s) in the nature of the
business carried out by the Company. The Company carried out the same business
mentioned in the memorandum of association of the Company.

6. Subsidiary, Associate and Joint Venture Companies, their highlights of performance
and their contribution to overall performance of the company:

The Company has no subsidiaries and no associate companies within the meaning of
Section 2(87) and 2(6) respectively of the Companies Act, 2013 (“Act”) as on March 31,
2024. The Company has not entered into any joint venture during the year.

However, after the end of financial year the company has incorporated a subsidiary named
''Wergreen Industries Private Limited'' and invested by subscribing to up to 51% of the
shareholding in the newly formed entity.

7. Share Capital and Listing:

The paid-up equity capital as on March 31, 2024 was Rs. 165.00 Lakhs. The Company is
listed on BSE Limited and as on date all the Equity Shares of the Company are in physical
form. The Company''s equity shares have been suspended from trading by BSE Limited,
where the company is listed. However, the Company has already applied for revocation of
the suspension, submitting the required fees and necessary information to BSE.

8. Name Change:

The Company has changed its name from “Relson India Limited” to “Crysdale Industries
Limited” approved by members on April 04, 2024, Registrar of Companies on June 06,
2024 and by Bombay Stock Exchange (BSE) on June 20, 2024.

9. Web-link for Annual Return:

Pursuant to the provisions of Section 92(3) and Section 134(3)(a) of the Companies Act,
2013, the Annual Return is available on the website of the Company at
www.relsonindia.com. By virtue of amendment to Section 92(3) of the Companies Act,
2013, the Company is not required to provide extract of Annual Return (Form MGT-9) as
part of the Board’s report.

10. Consolidated Financial Statements:

The requirement to present Consolidated Financial Statements is not applicable during
the period under review. The company operates as a single entity, and there are no
subsidiaries or associated entities that necessitate the consolidation of financial
statements in accordance with the relevant accounting standards.

11. Revision in Financial Statements:

In terms of section 131 of the Companies Act, 2013, the Financial Statements and Board’s
Report are in compliance with the provisions of section 129 or section 134 of the act and
that no revision has been made during any of the three preceding Financial Years.

The Company has not accepted any deposits from public and as such, no amount on
account of principal or interest on deposits from public was outstanding as on the date
of the balance sheet. However, company is having unsecured loan from Directors of the
company for which proper declaration has been furnished by them as required under
Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period
under review.

13. Material changes and commitments:

No material changes have occurred subsequent to the close of the financial year of the
Company to which the Balance Sheet relates and the date of the report.

14. Details of significant and material orders passed by the regulators or courts or
tribunals impacting the going concern status and company’s operations in future:

No significant and material orders have been passed by any Regulator or Court or
Tribunal which can have an impact on the going concern status and the Company’s
operations in future. BSE Limited, stock exchange where the company is listed has
suspended the trading of Company’s Equity Shares.

15. Directors’ Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the
best of their knowledge and ability, confirm that:

a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;

b) Company has 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 and
of the profit and loss of the company for that period;

c) Company has 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) Company has prepared the annual accounts on a going concern basis;

e) proper internal financial controls laid down by the Directors were followed by the
Company and that such internal financial controls are adequate and were operating
effectively; and

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

16. The composition of Board of Directors and KMP of the Company as on March 31,
2024 is as follows:

Sr. No.	Name of Director	DIN/PAN	Date of Appointment	Designation
1.	Mr. Rajiv Gupta	01116868	November 14, 2017	Director
2.	M s. Swati Sahukara	06801137	June 07, 2023	Director
3.	M s. Pooja Agrawal	10244119	July 20, 2023	Independent Women Director
4.	M r. Narendrakumar Badrinarayan Patel	08467505	March 22, 2024	Additional Independent Director

5.	M s. Meenal Baid Jain	ALHPB89 20G	June 07, 2023	Chief Financial Officer
6.	M r. Kapil Dhawan	BBAPD85 93B	June 07, 2023	Chief Executive Officer
7.	M s. Kavita Ashok Jain	ARNPJ37 55B	December 05, 2023	Company Secretary

17. Changes in Directors and Key Managerial Personnel:

The Changes that took place in the constitution of the Board of Directors and KMP of the
Company during the period under review are as below:

• Ms. Nikita Jain was Appointed as Company Secretary of the Company on 08 ^th April,
2023 and resigned from the post w.e.f. 06^th September, 2023.

• Mr. Sadashiv Jagannath Vaidya was appointed as Chief Executive Officer (CEO)
w.e.f. 08^th April, 2023 and resigned from the post w.e.f. 07^th June, 2023.

• Mr. Govindbhai Patel, Chief Financial Officer (CFO) and Mr. Arvind Udeshi (DIN:
08297686), Independent Director has resigned from their post w.e.f. 07^th June,
2023.

• Ms. Swati Sahukara (DIN: 06801137) has been appointed as Additional Independent
Director on 07^th June, 2023. Her designation was subsequently changed from
Additional Independent Director to Independent Director at the Annual General
Meeting held on 29^th September, 2023, and later from Independent Director to
Director on 22^nd March, 2024.

• Ms. Meenal Baid Jain was appointed as Chief Financial Officer (CFO) and Mr. Kapil
Dhawan was appointed as Chief Executive Officer (CEO) w.e.f. 07^th June, 2023.

• Ms. Pooja Agrawal (DIN: 10244119) was Appointed as Additional Independent
Women Director on 20^th July, 2023. Her designation was subsequently changed
from Additional Independent Women Director to Independent Women Director at
the Annual General Meeting held on 29 ^th September, 2023.

• Ms. Kavita Ashok Jain was appointed as Company Secretary & Compliance Officer
w.e.f. 05^th December, 2023.

• Mr. Ramchandra Mahadev More (DIN: 09726027) and Ms. Aparna Gupta (DIN:
00822979), Director of Company has resigned from the post w.e.f. 20^th March, 2024.

18. Number of Meetings of the Board of Directors and Attendance:

For the financial year in review, the Board of Directors had 13 (Thirteen) Board Meetings
which were in compliance with the relevant provisions of all the applicable laws and
rules. The intervening gap between the Meetings was within the period prescribed under
the Companies Act, 2013 and Secretarial Standards-I. The dates of the Board Meetings
were: April 08, 2023, May 15, 2023, June 07, 2023, July 20, 2023; August 09, 2023;
September 04, 2023; September 06, 2023; November 10, 2023; December 05, 2023;
February 08, 2024; February 26, 2024; March 09, 2024 and March 22, 2024:

Name of Director	Meeting held during tenure	Meeting attended during tenure	Attendance at the last AGM held on 29th September, 2023
Mr. Rajiv Gupta	13	13	Yes

Ms. Aparna Gupta	12	12	Yes
Mr. Ramchandra Mahadev More	12	12	Yes
Mr. Arvind Udeshi	2	0	NA
Ms. Swati Sahukara	10	10	Yes
Ms. Pooja Agrawal	9	9	Yes
Mr. NarendraKumar Patel	0	0	NA

19. Declaration by an Independent Director(s) and re- appointment, if any:

As per the provisions of Section 149(6) read along with Rule 4 and Rule 5 of the
Companies (Appointment and Qualification of Directors) Rules, 2014, the Company has
received declaration from Independent Director in the Company as required under the
Companies Act, 2013 for Financial Year 2023-24.

However, Company has appointed Ms. Swati Sahukara (DIN: 06801137) as Additional
Independent Director w.e.f. 07/06/2023 and Ms. Pooja Agrawal (DIN: 10244119) as
Additional Independent Director w.e.f. 02/07/2023 and re-appointed as Independent
Director in the AGM held during the year and w.e.f. 22/03/2024, Mr. Narendrakumar
Badrinarayan Patel was appointed as Additional Independent Director (DIN: 08467505)
and designation of Ms. Swati Sahukara (DIN: 06801137) changed from Independent
Director to Director.

20. Disclosure of Declaration for Disqualifications by Directors:

During the year declarations were received from the Directors of the Company pursuant
to Section 164 of the Companies Act, 2013. Board appraised the same and found that
none of the director is disqualified for holding office as director.

21. Separate Meeting of Independent Directors:

As mandated by Clause VII of Schedule IV of the Companies Act, 2013, a separate
meeting of Independent Directors was held on 09^th March, 2024. The Independent
Directors in the said meeting has reviewed the performance of Non-Independent directors
and Board as a whole including the performance of the Chairperson of the company after
accounting the views of executive directors and non-executive directors and also
assessed the quality, quantity and timeliness of flow of information between the
management of the listed entity and the board of directors that is necessary for the board
of directors to effectively and reasonably perform their duties.

22. Performance Evaluation & Nomination and Remuneration Policy:

Pursuant to section 134(3)(p) of Companies Act 2013 and rule 8(4) of Companies
(Accounts) Rules, 2014 and clause 17(10) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Board has carried out an evaluation of its own
performance, the directors individually as well as the evaluation of its Committees as per
the criteria laid down in the Nomination, Remuneration and Evaluation policy. The said
policy available on the Company’s website i.e. www.relsonindia.com.

23. Details in respect of adequacy of internal financial controls with reference to the
Financial Statements:

As a part of the effort to evaluate the effectiveness of the internal control systems, your
Company''s internal audit system reviews all the control measures on periodic basis and
recommends improvements, wherever appropriate. The Company has in place adequate
internal control systems and procedures commensurate with the size and nature of its
business. These systems and procedures provide reasonable assurance of maintenance
of proper accounting records, reliability of financial information, protections of resources
and safeguarding of assets against unauthorized use. The management regularly reviews
the internal control systems and procedures.

24. Statutory Auditors:

The present Statutory Auditors M/s JMMK & Co, Chartered Accountants, (ICAI Firm
Registration No: 120459W) appointed in the 37^th Annual General Meeting (“AGM”) held
during the year under review for a term of five consecutive years i.e., upto 42^nd AGM as
Statutory Auditors of the Company. The Statutory Auditors have confirmed that they are
not disqualified and are eligible to hold office as Statutory Auditors of your Company.
Representative of the Statutory Auditors of your Company attended the previous AGM.
The observation made in the Auditors'' Report read together with relevant notes thereon
are self-explanatory and hence, do not call for any further comments under Section 134
of the Companies Act, 2013 and does not contain any qualification, reservation or
adverse remark or disclaimer. Further no fraud has been reported by the auditors under
sub section (12) of section 143 of the Companies act, 2013.

25. Cost Auditors

The Company is not required to maintain cost records and conduct cost audit in
accordance with Section 148(1) of the Act read with Rule 3 of the Companies (Cost Record
and Audit) Rules, 2014 as the business of the Company is not covered under the said
rules and limits.

26. Secretarial Auditor:

Pursuant to provisions of section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company
has appointed CS Nitesh Chaudhary, Proprietor of M/s. Nitesh Chaudhary &
Associates, Practicing Company Secretaries, to undertake the Secretarial Audit of the
Company for the Financial Year 2023-24. The Secretarial Audit report is annexed
herewith as Annexure-I to this report.

27. Share Capital:

a) Issue of equity shares with differential rights:

The Company has not issued any shares with differential voting rights and
accordingly the provisions of Section 43 read with Rule 4(4) of the Companies (Share
Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed
there under are not applicable for the year.

b) Issue of sweat equity shares:

The Company has not issued any sweat equity shares and accordingly the provisions
of Section 54

read with Rule 8(13) of the Companies (Share Capital and debentures) Rules, 2014
of the Companies Act, 2013 and rules framed there under are not applicable for the
year.

c) Issue of employee stock options:

The Company has not granted stock options and accordingly the provisions of
Section 62(1)(b) read

with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 of the
Companies Act, 2013 and rules framed there under are not applicable for the year.

d) Provision of money by company for purchase of its own shares by employees or
by trustees for the benefit of employees:

The Company has not made any purchase or provision of its own shares by
employees or by trustees for the benefit of employees during the financial year 2023¬
24.

e) Increase in Authorized Share Capital of Shares:

During the year, the Company did not undertake any increase in its Authorized Share
Capital. The existing Authorized Share Capital remains unchanged.

f) Issue of Equity Shares:

During the year, the Company had made no issue of securities and had no variations
or alterations in its Register of Members.

28. Conservation of energy and technology absorption:

As the Company is not a manufacturing Company, the Board of Directors has nothing
to report on conservation of Energy and Technology absorption, Information required
under section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies
(Accounts) Rules, 2014. However, concerned efforts to conserve energy continued
throughout the year.

29. Foreign exchange earnings and outgo:

During the year under review, the Company has not entered into any foreign
transactions. As a result, there were no foreign exchange earnings or outgo recorded
during the financial year.

30. Corporate Social Responsibility (CSR):

As per the provisions of Section 135 of the Companies Act, 2013, the requirement to
undertake Corporate Social Responsibility (CSR) activities is not applicable to the
Company. Consequently, the Company is not obligated to carry out or report any CSR
activities during the financial year.

31. Managerial Remuneration / Remuneration Policy:

The Board has framed a policy for selection and appointment of Directors, senior
management and their remuneration.

32. Particulars of loans, guarantees or investments under Section 186:

The details of loans outstanding as on March 31, 2024 under Section 186 of the
Companies Act, 2013 is provided in Note 4.3 to the Financial Statements.

During the year under review, your Company has neither given guarantees nor has made
any investments within the meaning of Section 186 of the Companies Act, 2013 and the
rules made there under.

33. Particulars of Employees:

There are 3 employees of the Company who are temporary in nature. No remuneration
paid to anyone during the year under review.

34. Particulars of contracts or arrangements with related parties under Section 188:

All contracts/arrangements/transactions entered by the Company during the financial
year with related parties were in the ordinary course of business and on an arm’s length
basis. Information on transactions with related parties pursuant to Section 134(3)(h) of
the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given in
Annexure II in Form AOC-2 and the same forms part of this report.

35. Whistle Blower Policy:

The Company has a Vigil Mechanism Policy to deal with instance of fraud and
mismanagement, if any.

In staying true to our values of Strength, performance, and passion, and in line with our
vision of being one of the most respected companies in India, the Company is committed
to the high standards of Corporate Governance and stakeholder responsibility.

The vigil mechanism policy ensures that strict confidentiality is maintained whilst dealing
with concerns and also that no discrimination will be meted out to any person for a
genuinely raised concern.

36. Disclosure under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013:

In order to prevent sexual harassment of women at work place under the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
the company has set up Internal Complaints Committee(s) to look into complaints relating
to sexual harassment at work place of any women employee. Company has adopted a
policy for prevention of Sexual Harassment of Women at workplace and has set up
Committee for implementation of said policy. During the year under review the Company
has neither received any complaint of harassment nor any complaints pending there
under.

37. Business Risk Management:

The Company has implemented an integrated risk management approach through which
it reviews and assesses significant risks on regular basis to ensure that a robust system
of risk controls and mitigation is in place. Senior management periodically reviews this
risk management framework to keep updated and addresses emerging challenges.

38. Committees

a. Audit Committee:

The primary objective of the Audit Committee is to monitor and effectively supervise
the Company’s financial reporting process with a view to provide accurate, timely and
proper disclosures and the integrity and quality of the financial reporting.

The Audit Committee has been constituted on 20^th July, 2023. During the reporting
period, the Audit Committee has been reconstituted at the Board Meeting held on 22^nd
March, 2024, due to change in term of Ms. Swati Sahukara from Independent Director
to non-executive Non-Independent Women Director, therefore Mr. Narendrakumar
Badrinarayan Patel has been appointed as a Chairman of the Audit Committee.
Constitution of Committee is as follows:

Sr. No.	Name of the Members	Nature of Chairmanship/Membership
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman (w.e.f. 22.03.2024)
2.	Ms. Swati Sahukara	Member
3.	Ms. Pooja Agrawal	Member

During the financial year 2023-24, the Committee met 4 times on 15^th May, 2023; 09^th
August, 2023; 10^th November, 2023 and 08^th February, 2024. Name of Members and
Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/Eligible to attend
1.	Mr. Rajiv Gupta	Chairman (Ceased as Chairman w.e.f 20.07.2023)	1/1
2.	Ms. Aparna Gupta*	Member (Ceased as Member w.e.f 20.07.2023)	4/4
3.	Mr. Arvind Udeshi**	Member (Ceased as Member w.e.f 20.07.2023)	1/1
4.	Ms. Swati Sahukara	Chairman & Member (Ceased as Chairman and continue as Member w.e.f 22.03.2024)	3/3
5.	Ms. Pooja Agrawal	Member	3/3
6.	Mr. Narendrakumar Badrinarayan Patel	Chairman (w.e.f. 22.03.2024)	0/0

*Ms. Aparna Gupta resigned from the Directorship of the Company w.e.f 20.03.2024.
** Mr. Arvind Udeshi resigned from the Directorship of the Company w.e.f 07.06.2023.

b) Nomination and Remuneration Committee:

The Board has constituted Nomination and Remuneration Committee on 20^th July,
2023. During the reporting period, the Nomination and Remuneration Committee has
been reconstituted at the Board Meeting held on 22^nd March, 2024, Mr.
Narendrakumar Badrinarayan Patel has been appointed as a Chairman of the
Nomination and Remuneration Committee. Constitution of Committee is as follows:

Sr. No.	Name of the Members	Nature of Chairmanship/Membership
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman (w.e.f. 22.03.2024)
2.	Ms. Swati Sahukara	Member
3.	Ms. Pooja Agrawal	Member

During the financial year 2023-24, the Committee met 2 times on: 05^th December,
2023 and 22^nd March, 2024. Name of Members and Attendance during the year is as
follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/El igible to attend
1.	Ms. Pooja Agrawal	Chairman & Member (Ceased as Chairman and continue as Member w.e.f 22.03.2024)	2/2
2.	Ms. Swati Sahukara	Member	2/2
3.	Mr. Ramchandra More	Member (Ceased w.e.f. 22.03.2024)	2/2
4.	Mr. Narendrakumar Badrinarayan Patel (w.e.f. 22.03.2024)	Chairman (w.e.f. 22.03.2024)	0/0

*Mr. Ramchandra More resigned from the Directorship of the Company w.e.f
20.03.2024.

c) Shareholders/Investors Grievance Committee:

The Board has constituted Shareholders/Investors Grievance Committee on 20^th July,
2023 During the reporting period, the Nomination and Remuneration Committee has
been reconstituted at the Board Meeting held on 22^nd March, 2024, due to change in
term of Ms. Swati Sahukara from Independent Director to non-executive Non¬
Independent Women Director, Mr. Narendrakumar Badrinarayan Patel has been
appointed as a Chairman of the Nomination and Remuneration Committee.
Constitution of Committee is as follows:

Sr. No.	Name of the Members	Nature of Chairmanship/Membership
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman (w.e.f. 22.03.2024)
2.	Ms. Swati Sahukara	Member
3.	Ms. Pooja Agrawal	Member

During the financial year 2023-24, the Committee met Once on: 02^nd September, 2023.
Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/Eligi ble to attend
1.	Ms. Swati Sahukara	Chairman & Member (Ceased as Chairman and continue as Member w.e.f 22.03.2024)	1/1
2.	Ms. Pooja Agrawal	Member	ALL
3.	Ms. Aparna Gupta*	Member (Ceased as Member w.e.f 20.07.2023)	1/1
4.	Mr. Narendrakumar Badrinarayan Patel	Chairman (w.e.f. 22.03.2024)	0/0

*Ms. Aparna Gupta resigned from the Directorship of the Company w.e.f 20.03.2024.

39. Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive
Information (“Code”):

Pursuant to Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015 the
Board of Directors has formulated and adopted the "Code of Practices and Procedures
for Fair Disclosure of Unpublished Price Sensitive Information” (Code of Fair Disclosure)
of the Company.

40. Other Disclosures:

• The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI
(Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable
to your Company for the financial year ending March 31, 2024.

• No application was made or any proceeding is pending under the Insolvency and
Bankruptcy Code, 2016 during the year in respect of your Company.

• There was no one time settlement of loan obtained from the Banks or Financial
Institutions.

• The Company does not make payment to any Non-Executive Directors except sitting
fee if, approved by the Board.

41. Depository:

Equity shares of the Company are in physical form. For dematerialization of shares, the
Company has connectivity with the National Securities Depository Ltd. (NSDL) and
Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year
2023-24 has been paid by the Company to NSDL and CDSL.

42. Management Discussion and Analysis:

The Management Discussion and Analysis report has been separately furnished in the
Annual Report and forms a part of the Annual Report as Annexure-III.

43. Report on Corporate Governance and Compliance Certificate:

As stipulated under the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the requirement to provide a Report on Corporate Governance and a
Compliance Certificate is not applicable to the Company during the year under review.

44. Code of Conduct

The Company has framed and adopted a Code of Conduct and Ethics (“the Code”). The
Code is applicable to the members of the board, the executive officers and all employees
of the Company. All members of the board and senior management personnel have
affirmed compliance to the Code as on March 31, 2024. A declaration to that effect signed
by the Chief Executive Officer is enclosed as Annexure-IV to this report.

45. Disclosure with respect to demat suspense account/ unclaimed suspense account:

The Company does not have any shares in the demat suspense account/ unclaimed
suspense account.

46. Disclosure on confirmation with Secretarial Standards:

The Directors confirm that the Secretarial Standards issued by the Institute of Company
Secretaries of India to be complied pursuant to the Companies Act, 2013 and rules made
there under, have been duly complied with.

47. Acknowledgements:

Your directors appreciate and value the contributions made by every member of the
Company and extend their sincere appreciation for the assistance and co-operation
received from the bankers. Directors also place on record their deep sense of appreciation
for the committed services by the Company’s executive and staff.

For and on behalf of the Board of Directors
CRYSDALE INDUSTRIES LIMITED

(Formerly known as Relson India Limited)

Sd/- Sd/-

Rajiv Gupta Swati Sahukara

Director Director

DIN: 01116868 DIN: 06801137

Date: August 31, 2024
Place: Mumbai

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Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the 28th Annual Report along with the audited Statement of Accounts for the year ended 31st March, 2014.

FINANCIAL PERFORMANCE

The performance of the Company for the financial year ended 31st March 2014 is summarized below:

(Amount in Rs.)

Particulars For the year end For the year end 31.03.2014 31.03.2013

Total Income 2,310,146 2,662,734

Less: Total Expenses 1,609,637 1,412,085

Net Profit Before Tax 700,509 1,250,649

Less: Tax Expenses 196,930 395,000

Net Profit for the Year 23,483,227 855,649

Add: Balance Brought forward from Previous Year 503,579 22,627,578

Balance carried to Balance sheet 23,986,806 23,483,227

DIVIDEND

Keeping in view the need to conserve the company''s resource, your Directors consider not declare any dividend during the year under the report.

FIXED DEPOSITS

Your Company has not accepted any fixed deposits from the public and is therefore not required to furnish information in respect of outstanding deposits under Non-Banking Financial Companies (Reserve bank) Directions, 1966 and Companies (Acceptance of Deposits) Rules, 1975.

DIRECTOR

Pursuant to the provision of section 255 of the companies Act, 1956 Ms. Anusuya Gupta director of the company, retires at the ensuing Annual General Meeting and being eligible, offers herself for reappointment.

DIRECTOR''S RESPONSIBILITY STATEMENT

In Accordance with the Requirements of Section 217(2AA) of the companies Act, 1956 your Directors wish to confirm the following:

i) That the applicable accounting standards have been followed in the preparation of Annual Accounts.

ii) That the directors have Selected such accounting Policies and Applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company for that period;

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the company and for prevention and detection of fraud and other irregularities.

iv) The annual account for the year ended March 31, 2014 have been prepared on a going concern basis.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO:

The Particulars as required U/s 217 (1) (e) of the companies Act, 1956, read with companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 relating to conservation of energy, Technology, Technology Absorption, Foreign Exchange Earning and outgo are not Applicable to the company, as the company does not carry out any manufacturing activity and has no dealing with foreign exchange.

PARTICULARS OF EMPLOYEES

The Particulars as required U/s 217 (2A) of the companies Act, 1956, read with companies (particular of employees), there was no employee drawing remuneration in excess amount prescribed under Section 217 (2A) of the Companies Act, 1956 during the year ended 31st March 2014.

AUDITORS

The present tenure of M/s. AVS & Co., Chartered Accountants, Mumbai Statutory Auditor of the Company is expiring on conclusion of ensuing Annual General Meeting. In pursuance of Section 139 (1) of Companies Act, 2013 it is proposed to appoint M/s. AVS & Co., Chartered Accountants, Mumbai for the further tenure of one year.

The Company has received consent by M/s. AVS & Co., Chartered Accountants, Mumbai to act as Statutory Auditor of the Company. If confirmed, the appointment will be made in accordance with Section 139(1) of the Companies Act, 2013 and the Rules made there under and they satisfy the criteria stipulated under the provisions of Section 141 of the Companies Act, 2013.

AUDITOR REPORT

The observation made in the Audit Report are self explanatory and therefore, do not call for any further comment U/s 217 of the Companies Act, 1956. The same have been noted for future compliance.

SECRETARIAL COMPLIANCE CERTIFICATE:

As required U/s 383 A of the Companies Act, 1956 a Secretarial Compliance Certificate from the Practicing Company Secretary is annexed hereto.

ACKNOWLEDGEMENT

The Board records its sincere appreciation for the continuing support and cooperation from bank, government authorities, shareholder, clients and staff of the Company.

For and on Behalf of the Board For RELSON INDIA LIMITED

Pravin Jain Place: Mumbai Director Date: 29.05.2014 DIN : 01390983

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Mar 31, 2013

Dear Members

The Director have pleasure in presenting the 27th Annual Report along with the audited Statement of Accounts for the year ended 31st March, 2013.

(Rs. In lakhs)

FINANCIAL RESULTS CURRENT YEAR PREVIOUS YEAR

Net Profit for the Year 8,55,649 6,86,595

Add: Balance Brought forward from 22,627,578 21,940,983

Previous Year

Balance carried to Balance sheet 23,483,227 22,627,578

DIVIDEND

Keeping in view the need to conserve the company''s resource, your Directors consider not declare any dividend during the year under the report.

FIXED DEPOSITS

The Company has not accepted any fixed deposit during the year ended 31s1 March 2013.

DIRECTOR

Pursuant to the provision of section 255 of the companies Act, 1956 Mr. Pravin Jain director of the company, retires at the ensuing Annual General Meeting and being eligible, offers themselves for reappointment.

RESPONSIBILITY STATEMENT

In Accordance with the Requirements of Section 217(2AA) of the companies Act, 1956 your Directors wish to confirm the following:

i) that the applicable accounting standards have been followed in the preparation of Annual Accounts.

ii) that the directors have Selected such accounting Policies and Applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company for that period;

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the company and for prevention and detection of fraud and other irregularities.

iv) The annual account for the year ended March 31, 2013 have been prepared on a going concern basis.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO

The Particulars as required U/s 217(1) (e) of the companies Act, 1956, read with companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 relating to conservation of energy, Technology, Technology Absorption, Foreign Exchange Earning and outgo are not Applicable to the company, as the company does not cany out any manufacturing activity and has no dealing with foreign exchange.

PARTICULARS OF EMPLOYEES

The Particulars as required U/s 217(2A) of the companies Act, 1956, read with companies (particular of employees), there was no employee drawing remuneration in excess amount prescribed under Section 217(2A) of the Companies Act, 1956 during the year ended 31st March 2013.

AUDITORS

M/SAVS & Co., Chartered Accountants, the Auditors of the Company, retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

AUDITOR REPORT

The observation made in the Audit Report are self explanatory and therefore, do not call for any further comment U/s 217 of the Companies Act, 1956 The same have been noted for future compliance.

ACKNOWLEDGEMENT

The Board records its sincere appreciation for the continuing support and cooperation from bank , government authorities, shareholder , clients and staff of the Company .

By order of the Board of directors

RELSON INDIA LIMITED

Sd/.

Pravin Jain

Dated: 29/05/2013 (DIRECTOR)

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Mar 31, 2010

The Director have pleasure in presenting the 24,th Annual Report alongwith the audited Statement of Accounts for the year ended 31st March , 2010.

( Rs. In lakhs )

FINANCIAL RESULTS CURRENT YEAR PREVIUS YEAR

Net Profit for the Year 5,85,655 4,21,305

Add: Balance Brought forward from 20,954,181 20,532,876

Previous Year

Balance carried to Balance sheet 21,539,837 20,954,181



DIVIDEND

Keeping in view the need to conserve the companys resource, your Directors consider not declare any dividend during the year under the report.

FIXED DEPOSITS

The Company has not accepted any fixed deposit during the year ended 31s1 March 2010.

DIRECTOR

Pursuant to the provision of section 255 of the companies Act, 1956 Ms. Aparna Gupta director of the company, retires at the ensuing Annual General Meeting and being eligible, offers themselves for reappointment .

RESPONSIBILITY STATEMENT

In Accordance with the Requirements of Section 217(2AA) of the companies Act, 1956 your Directors wish to confirm the following:

i) that the applicable accounting standards have been followed in the preparation of Annual Accounts.

ii) that the directors have Selected such accounting Policies and Applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company for that period;

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the company and for prevention and detection of fraud and other irregularities .

iv) The annual account for the year ended March 31 , 2010 have been prepared on a going concern basis .

CONSERVATION OF ENERGY . TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO

The Particulars as required U/s 217(1) (e) of the companies Act, 1956, read with companies (Disclouser of particulars in the Report of Board of Directors) Rules, 1988 relating to conservation of energy, Technology, Technology Absorption, Foreign Exchange Earning and outgo are not Applicable to the company, as the,, company does not carry out any manufacturing activity and has no dealing with foreign exchange.

PARTICULARS OF EMPLOYEES

The Particulars as required U/s 217(2A) of the companies Act, 1956, read with companies (particular of employees), there was no employee drawing remuneration in excess amount prescribed under Section 217(2A) of the Companies Act, 1956 during the year ended 31st March 2010

AUDITORS

M/ S A V S & Co., Chartered Accountants , the Auditors of the Company , retire at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

AUDITOR REPORT

The observation made in the Audit Report are self explanatory and therefore, do not call for any further comment U/s 217 of the Companies Act, 1956 The same have been noted for future compliance.

SECRETARIAL COMPLIANCE CERTIFICATE:

As required U/s 383 A of the Companies Act, 1956 a Secretarial Compliance Certificate from the

Practicing Company Secretary is annexed hereto.

ACKNOWLEDGEMENT

The Board records its sincere appreciation for the continuing support and cooperation from bank , government authorities, shareholder , clients and staff of the Company .

By order of the Board of directors

RELSON INDIA LIMITED

s/d Place: Mumbai PRAVIN JAIN

Dated: .29.05.2010 (DIRECTOR)

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Mar 31, 2003

1.The Directors have pleasure in submitting the 17th Annual Report together with Audited Statement of Accounts for the year ended 31st March, 2003.

2. The company has made a Loss of Rs. 22,93,771/- as against a profit of Rs. 62,476/- for the previous year. Your Directors regret to express their inability to recommend any dividend.

3. Company has not accepted any Deposit from Public during the year falling within purview of Section 58A of the companies Act, 1956.

4. In accordance with the provision of the Companies Act, 1956 Mr. Pravin Jain retires at the forthcoming Annual General Meeting and being eligible, offers themselves for re-appointment.

5. There was no employee falling within the purview of Section 217 (2A) of the Companies Act, 1956 read with companies (particulars of Employee) Rules 1995 as amended during the year under report.

6. The equity shares of the company are listed in Bombay Stock Exchange and the listing fee upto the year 2002-2003 have been paid.

7. Information required under the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988.

8. The information required under Section 217(l)(e) of the Companies Act, 1956 read with the companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988.

a) With respect to conservation of energy, technology absorption, research and developments are not applicable to the company.

b) The company during the year has neither earned not spent any foreign exchange.

9. You are requested to appoint M/s. M. V. Damania & Co., Chartered Accountants, Mumbai as the Auditors of the Company.

As required under Section 217(2A) of the Companies Act, 1956, your Directors state:

(i) That in preparation of the Annual Accounts, the applicable accounting standards has been followed.

(ii) That the accounting policies selected and applied are consisted and the judgment and estimates made 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 and of the profit of the company for that period.

(iii) That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

(iv) The Annual Accounts have been prepared on going concern basis.

10. Secretarial Compliance Certificate :

As required under section 383A of the Companies Act, 1956 a secretarial Compliance certificate from a practicing company secretary is annexed hereto.

For and on behalf of the Board.

Aparna Gupta Managing Director

REGISTERED OFFICE: 307,_JANAKI CENTRE. OFF. VEERA DESAI ROAD, ANDHERI(WEST), MUMBAI - 400 053

Dated : 30th JUNE 2003

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Mar 31, 2002

1. Your Directors have pleasure in submitting the 16th Annual Report together with Audited Statement of Accoounts for the year ended 31st March, 2002.

2. The company has made a profit of Rs. 62,476/-as against a profit of Rs. l,83,863/-for the previous year. Your Directors regret to express their inability to recommed any dividend.

3. Company has not accepted any Deposit from Public during the year falling within purview of Section 58A of the companies Act, 1956.

4. In accordance with the provision of the Companies Act, 1956 Mr. Suresh Vazirani & Mrs . A .R .Gupta retires at the forthcoming Annual General Meeting and being eligible, offers themselves for re-appointment.

5. There was no employee falling within the purview of Section 217 (2A) of the Companies Act, 1956 read with companies (particulars of Employee) Rules 1995 as amended during the year under report.

6. The equity shares of the company are listed in Bombay Stock Exchange and the listing fee upto the year 2001-2002 have been paid.

7. Information required under the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988.

8. The information required under Section 217(l)(e) of the Companies Act, 1956 read with the companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988.

a) With respect to conservation of energy, technology absorption, research and developments are not applicable to the company.

b) The company during the year has neither earned not spent any foreign exchange.

9. You are requested to appoint M/s. M. V. Damania & Co., Chartered Accountants, Mumbai as the Auditors of the Company.

As required under Section 217(2A) of the Companies Act, 1956, your Directors state:

(i) that in preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) That the accounting policies selected and applied are consisted and the judgement and estimates made are reasonable and predent so as to give

a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the company for that period.

(iii) That proper and sufficient care has been taken for the maintanance of adequate accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assests of the company and for preventing and detecting fraud and other irregularities.

(iv) Tha the Annual Accounts have been prepared on going concern basis.

10. SECRETRIAL COMPLIANCE CERTIFICATE:

As required under section 383A of the companies act 1956 a secretarial compliance Certificate from a practicing company secretary is annexed hereto.

For and on behalf of the Board

Aparna Gupta Managing Director

REGISTERED OFFICE:

307,JANAKI CENTRE. OFF. VEERA DESAI ROAD, ANDHERI (WEST), MUMBAI - 400053

Dated : 14th August, 2002.