| 80 Annual Report | 2023-2024 GOING CONCERN STATUS AND COMPANY OPERATIONS IN FUTURE There are no significant material orders passed by the Regulators, Courts or Tribunals which would impact the going concern status of the Company and its future operations. DEPOSITS The Company is a non-deposit taking NBFC-MFI and has not accepted any deposit as defined in the Companies Act, 2013. INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013 Our Company has always believed in providing a safe and harassment free workplace for every individual working in the Company premises. Company always endeavors to create and provide an environment that is free from any discrimination and harassment. The policy on prevention of sexual harassment at workplace aims at prevention of harassment of employees {whether permanent, temporary, ad-hoc, consultants, interns or contract workers irrespective of gender} and lays down the guidelines for identification, reporting and prevention of undesired behaviour. The Company has duly constituted Internal Complaints Committee to redress complaints received regarding sexual harassment. The Company has also complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the calendar year 9 (nine) cases were reported and all were effectively closed. INTERNAL FINANCIAL CONTROLS The Company has in place adequate and effective internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed. VIGIL MECHANISM The Company has a Whistle-blower Policy which is periodically reviewed, and details of the same are explained in the Corporate Governance Report. The Policy is also available on the Company’s website. PARTICIPATION IN CREDIT BUREAU In order to address the issue of multiple lending or over indebtedness and also to know the credit history of the customer, the Company became the member in all the credit bureaus namely Experian Credit Information Company of India Private Ltd, High Mark Credit Information Services Pvt. Ltd., Equifax Credit Information Services Pvt. Ltd., and Transunion CIBIL Limited and shares all the customer’s data to them on regular basis. RESOURCES AND LIQUIDITY Your Company being a Systemically Important NonDeposit Accepting NBFC is subject to the capital adequacy requirements prescribed by the Reserve Bank of India. The Company was required to maintain a minimum Capital to Risk Asset Ratio (CRAR) of 15% as prescribed under the Non-Banking Financial Company-Micro Finance Institutions (Reserve Bank) Directions, 2016 (as amended from time to time) based on total capital to risk weighted assets. Your Company has maintained a CRAR ratio of 29.01% as on March 31, 2024 which is higher than the RBI prescribed ratio of 15%. The Company has an outstanding, secured and unsecured borrowings of INR 6,01,584.26 lakhs at the end of Financial Year 2023-24. RBI GUIDELINES & SRO Your Company is registered with the Reserve Bank of India (“RBI”), as a systematically important non-deposit taking NBFC (“NBFC-ND-SI”) under Section 45-IA of the RBI Act, 1934. As per Non-Banking Finance Companies RBI Directions, 1998, the Directors hereby report that the Company did not accept any public deposits during the year and did not have any public deposits outstanding at the end of the year. The Company being the member of MFIN, follows the Code of Conduct as prescribed by the SRO. The Company also complies with the standards and rules as prescribed by the above SRO from time to time. CREDIT RATING The Company’s Financial discipline and prudence is reflected in the strong credit ratings ascribed by rating agencies as given below: Director’s Report
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