Arohan Financial Services Limited | Annual Report 2022-23

81 | Annual Report | 2022-2023 Agents) Regulations, 1993 regarding the Companies Act and dealing with client; to the extent applicable to the Company during the period under review; (g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021; Not Applicable during the Audit period; (h) The Securities and Exchange Board of India (Buy-Back of Securities) Regulations,2018; Not Applicable during the Audit period. 6. We further report that, having regard to the compliance system prevailing in the Company and on examination of the relevant documents and records in pursuance thereof maintained by the Company and as confirmed by the management vide its Management Representation Letter, it has complied with following laws that are applicable specifically to the Company: The Company has complied with the following laws applicable specifically to the Company • The Reserve Bank of India Act, 1934. • Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 We have also examined compliance with the applicable clauses of the following: (i) Secretarial Standards with regards toMeeting of Board of Directors (SS-1) and General Meeting (SS-2) issued by The Institute of Company Secretaries of India (ICSI). During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above. We further report that: a) The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under reviewwere carried out in compliance with the provisions of the Act. b) Adequate notice is given to all Directors to schedule the Board Meetings, Agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting. c) Majority decision of the Board and Committee Meetings are carried through, while the dissenting members’ views, if any are captured and recorded as part of the minutes. On the basis of information provided to us, we further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. On the basis of information provided to us, we further report the Company has during the audit period ending on March 31, 2023 :- • Amended the Memorandum of Association and Article of Association of the Company. This report is to be read with our letter on even date which is annexed as Annexure A and forms an integral part of this report. For S Basu & Associates Company Secretaries Firm Registration No: S2017WB456500 Place: Kolkata Date: 09.05.2023 Saurabh Basu Practising Company Secretary ACS: - 18686; C.P.- 14347 Peer Review No: 1017/2020 UDIN: A018686E000278121