Dear Members,

The Directors of your Company take great pleasure in presenting the 37^th Annual Report on the business and operations of your Company along with the Audited Financial Statements for the year ended March 31, 2022.

1. FINANCIAL RESULTS

The financial Results are briefly indicated below:

(Amt in Rs.)

2. REVIEW OF OPERATIONS

The Profit of the financial year is Rs. 26,72,821/- (Rupees Twenty-Six Lakhs Seventy-Two Thousand Eight Hundred and Twenty-One only) the same is debited to profit and loss account. Your Directors expects to achieve better performance in the future and are taking maximum efforts to control the costs and optimize the results in the coming years.

3. TRANSFERS

The Board of Directors have not recommended transfer of any amount of profit to reserves during the year under review. Hence, the remaining amount of profit for the financial year under review has been carried forward to the Statement of Profit & Loss.

4. DIVIDEND

Your directors do not recommend dividend for the year ended March 31, 2022.

5. BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY'S AFFAIR

There was no change in nature of the business of the Company, during the year under review.

6. MATERIAL CHANGES AND COMMITMENTS IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY

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.

7. SUBSIDIARY JOINT VENTURES AND ASSOCIATE COMPANIES

Post review period the Company had formed a wholly owned subsidiary in the name and style of

"Cressanda E-Platform Private Limited" having CIN: U15490MH2022PTC382706 in the state of Maharashtra vide Certificate of Incorporation granted by Central Registration Centre, Ministry of Corporate Affairs. There are no Subsidiary, Joint Ventures or Associate Company of Cressanda Solutions Limited under review period.

8. DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review, the following Directors/ Key Managerial Personnel were appointed on the Board of the Company:

In accordance with the provisions of the Articles of Association and Section 152 of the Companies Act, 2013, Mrs. Supriya Gangadhare (DIN: 08644980), Director of the Company, retires by rotation at the ensuing annual general meeting.

Ms. Preeti Das was appointed as an Additional Director on the Board of the Company w.e.f April 12, 2022, post review.

During the year under review, the following Directors / Key Managerial Personnel resigned from the Company:

The relevant details, as required under Regulation 36 (3) of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 ("Listing Regulations") and Secretarial Standard, of the person seeking appointment as Director are also provided in Notes to the Notice convening the 37^th Annual General meeting.

9. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW

The Board meets at regular intervals to discuss and decide on Company / business policy and strategy. The Company follow the practice of sending the notice with detailed notes on each agenda item in advance of the meeting.

During the year under review, the Board met 10 times namely on June 28, 2021; August 13, 2021; November 13, 2021; November 25, 2021; December 07, 2021; December 15, 2021; February 09, 2022; February 14, 2022; March 24, 2022 and March 31, 2022. The maximum interval between any two meetings did not exceed 120 days. The Board periodically reviews compliance reports of all laws applicable to the Company. The maximum interval between any two meetings did not exceed 120 days. Following is the attendance of each of the Directors at the Board Meetings held during the period under review:

* Resigned as a Director from the Company w.e.f. December 07, 2021

! Appointed as a Director from the Company w.e.f. December 07, 2021

# Appointed as Managing Director of the Company w.e.f. February 09, 2022 ~ Resigned from the post of Managing Director w.e.f. February 09, 2022 @ Appointed as Director of the Company w.e.f. November 25, 2021

Until 30^th September, 2021, due to Covid-19 Pandemic, the Ministry of Corporate Affairs (MCA) had granted relaxation on holding meetings of the Board of the companies within the intervals of not more than 180 days instead of 120 days as provided under section 173 of the Companies Act, 2013.

10. EVALUATION OF DIRECTORS, BOARD AND COMMITTEES

The Nomination and Remuneration Committee of the Board of the Company has devised a policy for performance evaluation of the Directors, Board and its Committees, which includes criteria for performance evaluation.

Pursuant to the provisions of the Act and Regulation 17(10) of the Listing Regulations, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of the Committees of the Board.

The Board performance was evaluated based on inputs received from all the Directors after considering the criteria such as Board Composition and structure, effectiveness of Board / Committee processes and information provided to the Board, etc. Pursuant to the Listing Regulations, performance evaluation of Independent Directors was done by the entire board, excluding the Independent Director being evaluated.

A separate meeting of the Independent Directors was also held dated August 13, 2021 for the evaluation of the performance of Non-Independent Directors, performance of the Board as a whole and that of the Chairman of the Board.

11. DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated inspection 149(7) of the Companies Act, 2013 to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

12. COMMITTEES OF THE BOARD

In accordance with the Companies Act, 2013, there are currently 3 Committees of the Board, as follows: A. Audit Committee;

B. Stakeholders' Relationship Committee and

C. Nomination and Remuneration Committee

A. AUDIT COMMITTEE: -

As on date of this report the composition of the Audit Committee is in alignment with provisions of Section 177 of the Companies Act, 2013 read with the Rules issued thereunder.

As on date of this report the Audit Committee comprises of;

All the recommendations made by the Audit Committee were accepted by the Board of Directors of the Company.

B. STAKEHOLDERS' RELATIONSH IP COMMITTEE: -

As on date of this report the composition of the Stakeholders' Relationship Committee in alignment with provisions of Section 178 of the Companies Act, 2013 read with the Rules issued thereunder.

As on date of this report the Stakeholders' Relationship Committee comprises of;

C. NOMINATION AND REMUNERATION COMMITTEE: -

As on date of this report the composition of the Nomination and Remuneration Committee in alignment with provisions of Section 178 of the Companies Act, 2013 read with the Rules issued thereunder

As on date of this report the Nomination and Remuneration Committee comprises of;

13. ANNUAL EVALUATION BY THE BOARD

In compliance with the Companies Act, 2013, and Regulation 17 of the Listing Regulations, 2015 the performance evaluation of the Board and its Committees were carried out during the year under review. Your Company is highly committed and having dedicated professionals as Directors on the Board of the Company. The annual evaluation process of the Board of Directors, individual Directors and Committees was conducted in accordance with the provisions of the Act and the Listing Regulations. The evaluation is done based on criteria namely, the quality, quantity and timeliness of flow of information between the company, management and the Board that is necessary for the Board to effectively and reasonably perform their duties. Additionally, the Chairman of the Board was also evaluated after taking into account the views of Executive Directors and Non-Executive Directors in the aforesaid meeting.

The Board evaluated its performance after seeking inputs from all the directors on the basis of criteria such as the Board composition and structure, effectiveness of Board information and functioning, etc. Further, the performance of the Committees was evaluated by the Board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings, etc. The Board and the Nomination and Remuneration Committee reviewed the performance of individual Directors on the basis of criteria such as the contribution of the individual Director to the Board and Committee Meeting like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc. In the Board meeting that followed the meeting of the Independent Directors and the meeting of Nomination and Remuneration Committee, performance of the Board, its Committees, and individual Directors was also discussed. Performance evaluation of Independent Directors was done by the entire Board, excluding the Independent Director being evaluated. More details on the same are given In the Annexure to Corporate Governance Report.

14. UNSECURED LOAN FROM DIRECTORS

During the year under review the Company has not received an unsecured loan from any of the Directors.

AND SENIOR MANAGEMENT EMPLOYEES

The Nomination and Remuneration Committee of the Board has devised a policy for selection, appointment and remuneration of Directors, Key Managerial Personnel and Senior Management Employees. The Committee has also formulated the criteria for determining qualifications, positive attributes and independence of Directors. The Policy, inter alia, covers the details of the remuneration of non-executive directors, Key Managerial Personnel and Senior Management Employees, their performance assessment and retention features. The Policy has been put up on the Company's website at: www.cressanda.com

16. DIRECTORS RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013 The Board of Directors of the Company hereby confirm:

a) In the preparation of the annual accounts for the year ended March 31, 2022, the applicable Accounting Standards have been followed along with proper explanation relating to material departures; b) We have, in the selection of the accounting policies, consulted the Statutory Auditors and have 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 as at March 31, 2022 and of its profits for the year ended on that date; c) We have taken proper and sufficient care 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; d) We have prepared the annual accounts for the year ended March 31, 2022 on a ‘going concern' basis; e) We have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and f) We have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

17. DEPOSIT

The Company has not accepted any deposits from the public falling within the ambit of Section 73 of the Companies Act, 2013 (‘the Act') and the Companies (Acceptance of Deposits) Rules, 2014. There are no unclaimed deposits, unclaimed/ unpaid interest, refunds due to the deposit holders or to be deposited with the Investor Education and Protection Fund as on March 31, 2022.

18. MAINTAINENCE OF COST RECORDS

The Company is not required to maintain Cost Records as specified by the Central Government under Section 148 (1) of the Companies Act, 2013.

19. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADEWITH RELATED PARTIES

There are no related party transactions entered during the Financial year as applicable under the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, a Nil Disclosure is being reported in Form AOC-2 i.e. "Annexure A" in terms of Section 134 of the Act read with Rule 8 of the Companies (Accounts) Rules,2014.

20. PARTICULARS OF EMPLOYEES AND REMUNERATION

There were no employees during the year who received remuneration in terms of provisions of Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

OUTGO

The information pertaining to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in "Annexure B."

TRIBUNAL IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATION IN FUTURE

There are no significant material orders passed by the Regulators / Courts / Tribunal which would impact the going concern status of the Company and its future operations.

23. INTERNAL CONTROL SYSTEM

According to Section 134(5)(e) of the Act, the term Internal Financial Control (‘IFC') means the policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information. The Company's internal control systems are commensurate with its size and the nature of its operations. The Audit Committee also deliberates with the members of the management, considers the systems as laid down and meets the internal auditors and statutory auditors to ascertain their views on the internal financial control systems. Further details are provided in the Management Discussion and Analysis Report which forms a part of the Annual Report.

COMPANIES ACT, 2013

Particulars of loans given, investments made, guarantees given and securities provided along with the purpose for which the loan or guarantee or security is proposed to be utilized by the recipient are provided in the notes to the financial statements.

Authorized Share Capital

The Authorized Share Capital of your Company was increased from Rs. 44,00,00,000/- (Rupees Forty-Four Crores Only) to Rs. 70,00,00,000/- (Rupees Seventy Crores Only) during the year under review. Consequent to the above, the Authorized Share Capital of your Company as on March 31, 2022 stood at Rs. 70,00,00,000/- (Rupees Seventy Crores Only) divided into 70,00,00,000 Equity Shares of Rs. 1/- each.

26. ISSUE OF WARRANTS ON PREFERENTIAL BASIS

During the year under review, the Company issued and allotted 9,49,18,000 (Nine Crores Forty-Nine Lakhs and Eighteen Thousand only) Convertible Equity Warrants wherein an amount equivalent to 25% of the Issue Price (Rs. 7/- per warrant) was paid on subscription and the balance 75% shall be paid by warrant holder(s) at the time of conversion into one fully paid-up equity share of Rs. 1/- each, within a period of 18 months from the date of allotment i.e. March 31, 2022.

27. ALTERATION OF MEMORANDUM OF ASSOCIATION

The Share Capital Clause of the Memorandum of Association of the Company was altered in order to reflect increase in Authorized Share Capital from Rs. 44,00,00,000/- (Rupees Forty-Four Crores Only) to Rs. 70,00,00,000/- (Rupees Seventy Crores Only).

28. AMENDMENT TO THE ARTICLES OF ASSOCIATION OF THE COMPANY

Your Company at its meeting held on February 09, 2022 and through Postal Ballot process, based on the approval of the Members, held on March 16, 2022, adopted new Articles of Association which had been streamlined and aligned with the Companies Act, 2013 and Rules made thereunder.

SHARE TRANSFER AGENT OF YOUR COMPANY

The Board of Directors of your Company at its Meeting held on February 09, 2022, decided to appoint M/s. Skyline Financial Services Private Limited, as the Registrar & Share Transfer Agents. Your Company is committed to protecting the interests of its Shareholders and has taken necessary steps as per the provisions of law for the same.

30. DISCLOSURE REGARDING ISSUE OF EMPLOYEE STOCK OPTIONS

The Company does not have any Employee Stock Option Scheme/ Plan

31. ANNUAL RETURN

As required under Section 134(3)(a) and Section 92(3) of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return (Form MGT-7) for the financial year ended March 31, 2022, is available on the Company's website and can be accessed at https://www.cressanda.com/docs-category/updates/

32. CORPORATE SOCIAL RESPONSIBILITY

The provisions of Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable to the Company as on March 31, 2022. Hence, your Company is not required to adopt the Corporate Social Responsibility Policy or constitute Corporate Social Responsibility Committee during the year under review.

33. STATUTORY AUDITORS

M/s. C P Jaria & Co., Chartered Accountants, (Firm Registration No. 104058W), have, due to preoccupation, resigned from the office of Statutory Auditors w.e.f. February 09, 2022 resulting into a casual vacancy in the office of Statutory Auditors of the company as envisaged under section 139(8) of the Companies Act, 2013.

As per the recommendation of the Audit Committee and the Board of Directors, the Members of the Company through postal ballot process appointed M/s. Rishi Sekhri & Associates, Chartered Accountants, (Firm Registration No. 128216W) as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s. C P Jaria & Co. and who holds office from February 09, 2022 up to the conclusion of the ensuing 37^th Annual General Meeting of the Company. In accordance with section 139 of the Companies Act, 2013, the Board of Directors on recommendation of Audit Committee, in its meeting held on February 09, 2022 has recommended the appointment of M/s. Rishi Sekhri & Associates, Chartered Accountants, (Firm Registration No. 128216W), as the Statutory Auditors of the Company to hold office until the conclusion of the ensuing Annual General Meeting of the Company. M/s. Rishi Sekhri & Associates, Chartered Accountants, have consented to act as the Statutory Auditors of the Company and the Board After receiving recommendation from the Audit Committee proposes appointment of M/s. Rishi Sekhri & Associates, Chartered Accountants as the Statutory Auditor of the Company to hold office until the conclusion of the 41^st Annual General Meeting of the Company.

The Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any further comments under Section 134 of the Companies Act, 2013. The Auditors' Report is enclosed with the financial statements in this Annual Report. There is no incident of fraud requiring reporting by the auditors under Section 143(12) of the Companies Act, 2013.

34. SECRETARIAL AUDITOR

Pursuant to the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors had appointed M/s. JCA & Co., Practicing Company Secretaries, to undertake the Secretarial Audit of the Company. The Audit Report of the Secretarial Auditors of the Company for the financial year ended March 31, 2022 is attached hereto as Annexure D.

Pursuant to Regulation 24A of the Listing Regulations, the Company has obtained Annual Secretarial Compliance Report from a Practicing Company Secretary on compliance of all applicable SEBI Regulations and circulars / guidelines issued there under and the same were submitted with the Stock Exchanges. The observations and comments given by the Secretarial Auditor in their Report are self-explanatory and hence do not call for any further comments under Section 134 of the Act.

35. SECRETARIAL STANDARDS

During the year under review, the Company has complied with the applicable Secretarial Standards, SS-1 and SS-2, issued by The Institute of Company Secretaries of India.

36. REPORT ON CORPORATE GOVERNANCE

As per Regulation 34(3) read with Schedule V of the Listing Regulations, a separate section on corporate governance practices followed by the Company, together with a certificate from the

Company's Auditors confirming compliance forms an integral part of this Report.

37. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis for the year under review as stipulated under Regulation 34(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations), is presented in a separate section forming part of this Annual Report.

38. PARTICULARS OF EMPLOYEES

During the financial year, there were no employees drawing salary exceeding the limit pursuant to

Section 197(12) of the Companies Act, 2013 read with sub-rules 2 and 3 of Rule 5 of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended.

39. WHISTLE BLOWER POLICY (VIGIL MECHANISM)

In accordance with Section 177 of the Act and the Listing Regulations, the Company has formulated a Vigil Mechanism to address the genuine concerns, if any, of the directors and employees. The details of the same have been stated in the Report on Corporate Governance and the policy can also be accessed on the Company's website at the link: www.cressanda.com

(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this Policy. The Policy is gender neutral. During the year, no such complaints were received.

DISCLAIMERS MADE BY THE AUDITORS

There are no qualifications, reservations or adverse remarks or disclaimers made by M/s. Rishi Sekhri & Associates, Statutory Auditors, in their report. The Statutory Auditors have not reported any incident of fraud to the Audit Committee of the Company in the year under review.

42. CASH FLOW AND CONSOLIDATED FINANCIAL STATEMENTS

As required under Regulation 34 of the Listing Regulations, a Cash Flow Statement is part of the Annual Report. The Company does not have any subsidiaries as on March 31, 2022 and hence not required to publish Consolidated Financial Statements.

43. ACKNOWLEDGEMENTS

Your Directors take this opportunity to express their sincere appreciation and gratitude for the continued co-operation extended by shareholders, employees, customers, the Government, Banks, suppliers and other business associates.