Arohan Annual Report FY 20-21

INITIAL PUBLIC OFFERING The Directors are pleased to inform that the Company plans to come out with its proposed Initial Public Offering (IPO) comprising of Fresh Issue of equity shares aggregating up to INR 85,000 Lakhs and Offer for Sale of up to 2,70,55,893 Equity Shares of face value of INR 10/- (Rupees Ten only) by way of Book Building Process. The Draft Red Herring Prospectus (DRHP) was successfully filed with the Securities and Exchange Board of India (SEBI) on February 14, 2021. The approval of SEBI for opening up the subscription was received on April 23, 2021 and is valid for a period of 12 months from the date of such approval. DIVIDEND The Board of Directors of your Company, after considering holistically the relevant circumstances has decided that it would be prudent, not to recommend any Dividend for the year under review. DIRECTORS AND KEY MANAGERIAL PERSONNEL Mr. Kasper Svarrer (DIN 07252475) and Mr. Paul Gratien Robine (DIN 07828525) both being Nominee Directors retire by rotation in terms of Section 152 of the Companies Act, 2013 and Article of Association of the Company and being eligible offered for re-appointment as Director of the Company. Declaration from both the directors under section 164 (2) of the Companies Act, 2013 had been received stating they were not disqualified from being appointed as the Director. During the year, Mr. Manoj Kumar Nambiar, Managing Director, Mr. Milind Ramchandra Nare, Chief Financial Officer, and Mr. Anirudh Singh Thakur, Company Secretary are the Key Managerial (“KMP”) of the Company under Companies Act, 2013 and; Mr. Shirish Chandra Panda, Executive Vice President- Head of Operations, Mr. Shailesh Kumar, Vice President and Head – Credit & MSME Lending Business, Mr. Ranjan Das, Chief Risk Officer, Mr. Harshavardhan Patnaik, Senior Vice President – Head of Central Operations and Alliances, Mr. Abin Mukhopadhyay, Vice President –Head of Internal Audit, Mr. Arvind Murarka, Vice President – Head of Information Technology, Mr. Prashant Rai, Vice President – Head of Human Resources, Admin, Training and CSR, and Ms. Reema Mukherjee, Assistant Vice President – Head of Strategic Initiatives & Corporate Communications are the Key Managerial (“KMP”) of the Company under SEBI (ICDR) Regulations, 2018. However, Mr. Shirish Panda, Head- Business decided to resign fromhis position andmove on for better opportunity. Consequent to his resignation, the senior management team undergone some changes as stated below: 1. Mr. Harshavardhan Patnaik, Head of Central Operations was made the Head- Business from April 1, 2021 onwards; and 2. Mr. Vinod Pandey, Head- Alliance Business was made the Head- Central Operations and Alliances from April 1, 2021 onwards and appointed as KMP as per SEBI (ICDR) Regulation, 2018. DECLARATION OF INDEPENDENCE The Company has received declarations from all Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”). DETAILS OF SUBSIDIARY, ASSOCIATE AND JOINT VENTURE OF THE COMPANY The Company doesn’t have any subsidiary, associate and joint venture. DIRECTORS’ RESPONSIBILITY STATEMENT To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(3) (c) of the Companies Act, 2013: a. In the preparation of the annual accounts for the year ended March 31, 2021, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same; b. The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true Annual Report | 2020-2021 84