To

The Members,

Deep Diamond India Limited

Address: 408, Corporate Avenue Wing-A Sonawala Road, Goregaon East, NR. Udyog Bhavan Mumbai-400063

Your directors have the pleasure of presenting the 29^th Annual Report of the Company together with the Audited Statement of Accounts for the year ended March 31, 2023.

1. FINANCIAL SUMMARY & OPERATIONAL HIGHLIGHTS:

The Company's performance during the year ended March 31, 2023, as compared to the previous financial year, is summarized below:

b) Company's performance review:

The Company continues to see marginal growth in its overall performance in the financial year 2022-2023. Driven by the performance of the segment in which the Company operates the quick summary of standalone results are given below:

During the Financial Year ended March 31, 2023, the Company's total Revenue from operations is INR 7,67,22,345/- as against INR 1,39,23,519/- in the corresponding previous Financial Year ended March 31, 2022.

The Profit after tax for the Financial Year ended March 31, 2023, is INR 1,25,62,562/- as against Profit of INR 19,70,716 in the corresponding previous Financial Year ended March 31, 2022.

The Company continues to be engaged in activities pertaining to sale of gold and diamond studded Jewellery.

Further the Company has also engaged itself in the new business segment pertaining to marketing of Pharmaceutical goods in India during the year under review.

Considering the addition of the new business segment, i.e., the Pharmaceutical Business, there was a change in the nature of business operations of the Company which impacted the financial position of the Company during the financial year under review.

The Company has not transferred any amount into the general reserve during the financial year under review.

With a view to conserve resources, your directors have thought it is prudent not to recommend any dividend for the financial year under review.

Neither the Company was liable to transfer any amount, nor the Company has transferred any amount to the Investor Education & Protection Fund (IEPF) and no amount is lying in Unpaid Dividend A/c of the Company.

Not Applicable.

During the year under review, the Company has No Subsidiary, Associate & / or Joint Venture Company. Therefore, the report on the performance of the Subsidiaries, Associates & Joint Venture Companies is not applicable to the Company for the year under review.

The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73 of the Companies Act 2013 ("the Act") read with the Companies

(Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement for furnishing details relating to deposits covered under Chapter V of the Act or the details of deposits that are not in compliance with the Chapter V of the Act is not applicable.

During the financial year under review, the Company has taken a loan from the Mr. Prakash Solanki who was the director of the Company, and thus he has given the declaration in writing to the Company stating that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others.

Accordingly, the following amount is excluded from the definition of Deposit as per Rule 2(1)(c)(viii) of the Companies (Acceptance of Deposits) Rules, 2014:-

During the year under review, there was a change in the Authorized, Issued, Subscribed, and Paid-up Share Capital of the Company pursuant to preferential issue and subdivision of equity shares.

As of March 31, 2023, the Authorized Share Capital of the Company is INR 10,00,00,000/- divided into 10,00,00,000 equity shares of INR 1/- each.

Further, the Issued, Subscribed, and Paid-up Share Capital of the Company as of March 31, 2023, is INR 4,80,50,000/- divided into 4,80,50,000 equity shares of INR 1/- each.

All the related party transactions/contracts/arrangements that were entered into by the Company with related party(ies) as defined under the provisions of Section 2(76) of the

Companies Act, 2013 during the year under review were on an arm's length basis and were in compliance with the applicable provisions of the Act and the Listing Regulations.

There are no materially significant related party transactions entered into by the Company with its Promoters, Directors, KMP's, or Senior Management Personnel that may have a potential conflict with the interest of the Company at large. All related party transactions as required under AS-18 are reported in the notes to the financial statement of the Company. Hence no disclosure is required to be given in this regard in Form AOC-1.

Pursuant to the provisions of Section 92(3) read along with Section 134(3)(a) of Companies Act, 2013, the Annual Return as on March 31, 2023 will be available on Company's website on https://www.deepdiamondltd.co.in/investors.html.

Except as disclosed elsewhere in this report there are no material changes and commitments affecting the financial position of the Company, subsequent to the close of the Financial Year 2022-2023 till the date of this Report.

The particulars of Loans, Guarantees, and Investments covered under section 186 of the Companies have been disclosed in Note No. 03, 04 and 09 of Notes to the Financial Statement.

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 read along with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of conservation of energy, technology absorption, foreign exchange earnings and outgo etc. are as mentioned below:

A) Conservation of energy:

The Company has its internal financial control systems commensurate with the size and complexity of its operations, to ensure proper recording of financials and monitoring of operational effectiveness and compliance of various regulatory and statutory requirements. The management regularly monitors the safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records including timely preparation of reliable financial information.

The internal auditor consults and reviews the effectiveness and efficiency of the internal financial control systems and procedure to ensure that all the assets are protected against loss and that the financial and operational information is accurate and complete in all respects. Significant audit observations and corrective actions thereon are presented to the Audit Committee of the Company.

2. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL:

There was a change in the Directorship of the Company during the year under review and accordingly the Board of the Company was reconstituted at various occasions throughout the financial year under review.

Below are the details regarding all the appointments done and resignations received for the period commencing from April 01, 2022, till the date of this report.

Mr. Manoj Himatsinghka (DIN: 02219343) and Mr. Ajay Vadnerkar (DIN: 09616079) were appointed as Additional Independent Director w.e.f. May 25, 2022, and were regularized as Independent Directors of the Company w.e.f. August 23, 2023.

Mr. Ganpat Lal Nyati (DIN: 09608005) was appointed as an Additional Executive Director w.e.f. June 02, 2023, and was redesignated as a Managing Director of the Company w.e.f. September 27, 2023, and Mr. Narendra Kumar Shrimali (DIN: 09034181) was appointed as Additional Non-Executive Director w.e.f. June 02, 2022, and was regularized as a Non-Executive Director of the Company w.e.f. August 23, 2022.

Ms. Soniya Upadhyay (DIN: 09629126) was appointed as an Additional Executive Director w.e.f. June 30, 2022.

Ms. Sonali Ladha (DIN: 09782074) was appointed as an Additional Executive Director and Chief Executive Officer of the Company w.e.f. January 01, 2023, and was regularized as an Executive Director w.e.f. March 25, 2023.

Mr. Narendra Kumar Shrimali (DIN: 0903418) was appointed as Chief Financial Officer of the Company w.e.f. April 01, 2023.

Ms. Sonali Ladha (DIN: 09782074) was re-designated from Executive Director to Whole Time Director of the Company w.e.f. April 24, 2023.

Mr. Prashant Tali was appointed as Company Secretary and Compliance officer of the Company w.e.f. May 05, 2023.

Mr. Ashish Jain (DIN: 10124476) was appointed as an Additional Independent Director of the Company w.e.f. April 24, 2023, and was regularized as an Independent Director w.e.f. July 11, 2023.

Mr. Vinod Madowara (DIN: 08436361) was appointed as an Additional Independent Director of the Company w.e.f. August 28, 2023.

Mr. Mayank Shah (DIN: 07468663) resigned from the post of Independent Director of the Company w.e.f. June 30, 2022.

Mr. Dinesh Solanki (DIN: 01803066) resigned from the post of Managing Director of the Company w.e.f. July 15, 2022.

Ms. Soniya Upadhyay (DIN: 09629126) resigned from the post of Additional Executive Director w.e.f. August 23, 2022.

Mr. Prakash Solanki (DIN: 00716606) resigned from the post of Whole Time Director, Chief Financial Officer, and Chairman of the Company w.e.f. September 29, 2022. Ms. Sangeeta Jain (DIN: 01510470) resigned from the post of Independent Director of the Company w.e.f. October 31, 2022.

Mr. Ajay Vadnerkar (DIN: 09616079) resigned from the post of Independent Director of the Company w.e.f. January 25, 2023.

Mr. Amit Kumar Dudani resigned from the post of Company Secretary and Compliance Officer of the Company w.e.f. February 28, 2023.

Mr. Manoj Himatsinghka (DIN: 02219343) resigned from the position of Independent Director of the Company w.e.f. June 29, 2023.

The Directors and Key managerial personnel as on March 31, 2023, are as below:

In accordance with the provisions of the Act, none of the Independent Directors is liable to retire by rotation.

As per the provisions of Section 152(6) of the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014, Mr. Narendra Kumar Shrimali (DIN: 09034181) retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

Your directors recommend their approval.

The Company has duly complied with the definition of ‘Independence' according to the provisions of Section 149(6) of, read along with Schedule IV to the Companies Act, 2013 i.e., Code of Independent Directors and Regulation 16 (1) (b) and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended).

All the Independent Director/s have submitted a declaration that he/she meets the criteria of independence and submits the declaration regarding the status of holding other directorship and membership as provided under law.

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 Obligations & Disclosure Requirements) Regulations, 2015.

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.

In a separate meeting of Independent Directors, performance of non-independent directors, performance of the Board as a whole and performance of the Chairman was evaluated, considering the views of executive director.

During the financial year 2022-2023 under review, the Company has received Form DIR-8 from all Directors as required under the provisions of Section 164(2) of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014.

The Board has taken the same on record.

During the Financial Year 2022-2023 the Company does not have any holding or Subsidiary Company. Therefore, any remuneration/commission drawn from the

Company's holding Company/subsidiary companies is not applicable in our company's case.

3. Disclosure related to Committees of the board:

As on March 31, 2023, the Board had Three (3) Committees viz; Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee.

However, due to reconstitution of the Board during the financial year under review, the committees were reconstituted.

The Audit Committee of Directors was constituted pursuant to the provisions of Section 177 of the Companies Act, 2013.

The composition of the Audit Committee was not in conformity with the provisions of the said section as on March 31, 2023, due to resignation of Independent Director of the Company during the financial year under review. However, as on the date of this report the audit committee was in conformity with the provisions of the said section.

The Audit Committee comprises of as on date of this report:

All members of the Audit Committee have the requisite qualification for appointment on the Committee and possess sound knowledge of finance, accounting practices and internal controls.

The Audit Committee met 13 times during the financial year ended on March 31, 2023, at their meeting held on.

During the year under review, the Board of Directors of the Company accepted all the recommendations of the Committee.

The Nomination and Remuneration Committee of Directors was constituted pursuant to the provisions of Section 178 of the Companies Act, 2013. The composition of the Nomination and Remuneration Committee was not in conformity with the provisions of the said section as on March 31, 2023, due to resignation of Independent Director of the Company during the financial year under review.

The Nomination & Remuneration Committee comprises of as on the date of this report is as below:

The Board has in accordance with the provisions of sub-section (3) of Section 178 of the Companies Act, 2013, formulated the policy setting out the criteria for determining qualifications, positive attributes, independence of a Director, and policy relating to selection and remuneration for Directors, Key Managerial Personnel and Senior Management Employees.

Major criteria/gist defined in the policy framed for appointment of and payment of remuneration to the Directors of the Company, are as under:

The Nomination & Remuneration Committee met 7 times during the financial year ended on March 31, 2023. iii. Stakeholder & Relationship Committee:

The Stakeholder & Relationship Committee of Directors was constituted pursuant to the provisions of Section 178(5) of the Companies Act, 2013.

The Stakeholder & Relationship Committee comprises of as on the date of this report of the below mentioned:

The Company Secretary of the Company to acts as the Secretary of the Stakeholders' Relationship Committee.

The Stakeholders' Relationship Committee met 1 time during the financial year ended on March 31, 2023, at their meeting held on.

The investor complaints are processed in a centralized web-based complaints redress system. The salient features of this system are a centralized database of all complaints, online upload of Action Taken Reports (ATRs) by the concerned companies, and online viewing by investors of actions taken on the complaint and its current status.

Your Company has registered itself on SCORES and makes every effort to resolve all investor complaints received through SCORES or otherwise within the statutory time limit from the receipt of the complaint. The Company has not received any complaint on the SCORES during the financial year 2022-2023.

4. Board & Committees Meetings:

During the financial year under review, the Board of Directors met 13 times during the year in accordance with the provisions of the Companies Act, 2013 and rules made thereunder.

The Company has complied with the applicable Secretarial Standards in respect of all the above-Board meetings.

In compliance with Schedule IV to the Companies Act, 2013 and Regulation 25 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Independent Directors held their separate meeting on January 16, 2023, without the attendance of non-independent directors and members of management, inter alia, to discuss the following:

• Review the performance of non-independent directors and the Board as a whole. ? Review the performance of the Chairperson of the Company, considering the views of executive directors and non-executive directors; and Assess the quality, quantity, and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to perform their duties effectively and reasonably.

All independent directors were present at the meeting, deliberated on the above and expressed their satisfaction.

5. Policy(s) and Annual Evaluation:

The Board of Directors of the Company have, pursuant to the provisions of Section 177(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014, framed "Vigil Mechanism Policy" for Directors and employees of the Company to provide a mechanism which ensures adequate safeguards to employees and Directors from any victimization on raising of concerns of any violations of legal or regulatory requirements, incorrect or misrepresentation of any, financial statements and reports, etc.

The employees of the Company have the right/option to report their concern/grievance to the Chairman of the Board of Directors.

The Company is committed to adhering to the highest standards of ethical, moral, and legal conduct of business operations.

In terms of sub-section 3 of Section 178 of the Companies Act, 2013; the Nomination and Remuneration Committee of the Company has laid down a policy on the selection and appointment of Directors and the Senior Management of the Company and their remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters.

The Remuneration Policy is available on Company's website and can be accessed in the link provided herein: https://www.deepdiamondltd.co.in/NRP.pdf

(iii) Risk management:

The Company has in place a mechanism to identify, assess, monitor, and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. These are discussed at the meetings of the Audit Committee and the Board of Directors of the Company.

There are no material changes or commitments affecting the financial position of the Company between the end of the financial year and the date of this Report.

The Board of Directors of the Company has designed Risk Management Policy and Guidelines to avoid events, situations or circumstances which may lead to negative consequences on the Company's businesses and define a structured approach to manage uncertainty and to make use of these in their decision-making pertaining to all business divisions and corporate functions. Key business risks and their mitigation are considered in the annual/strategic business plans and in periodic management reviews.

Pursuant to Regulation 46(2)(f) the Board has framed the policy containing the criteria for making the payments to non-executive directors.

The policy is available on the website at https://www.deepdiamondltd.co.in/investors.html

Pursuant to the provisions of the Section 134(3)(p) of the Companies Act, 2013 the Board has carried out the formal annual performance evaluation of its own performance, the Directors individually as well as the evaluation of the working of its various Committees and the working of the Board as whole.

The evaluation exercise was carried out on various aspects of the Boards functioning such as composition of the Board & committees, experience & competencies, performance of the duties and obligations, governance issues, etc.

The manner in which the evaluation has been carried out has been explained below:

Separate exercise was carried out to evaluate the performance of individual Directors including the Chairman by the Nomination and Remuneration committee as per the structured mechanism who were evaluated on following parameters / criteria:

Participation and contribution by a director, Commitment (including guidance provided to senior management outside of Board/ Committee meetings), Effective deployment of knowledge and expertise, Effective management of relationship with stakeholders, Integrity and maintenance of confidentiality, Independence of behavior and judgment, Observance of Code of Conduct, and Impact and influence.

In the opinion of the Board, Independent Directors of the Company possess relevant expertise and experience (including proficiency)

6. Auditors and Reports:

The matters related to Auditors and their Reports are as under:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014 M/s. VIJAY R. TATER & Co., Chartered Accountants (Registration No. 111426W), the Statutory Auditors of the Company have been appointed for a term of 5 years to hold office till the conclusion of the Annual General Meeting to be held for the F.Y. 2025-2026 and they continue to be the statutory auditors of the Company.

The observations / qualifications / disclaimers made by the Statutory Auditors in their report for the financial year ended 31st March 2023 read with the explanatory notes therein are self-explanatory and therefore, do not call for any further explanation or comments from the Board under Section 134(3) of the Companies Act, 2013.

There were no incidents of reporting of frauds by Statutory Auditors of the Company under Section 143(12) of the Act read with Companies (Accounts) Rules, 2014.

In accordance with the opinion of the auditors, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2023.

Provisions of Section 204 read with Section 134(3) of the Companies Act, 2013, mandates to obtain Secretarial Audit Report from a Practicing Company Secretary.

Accordingly, M/s Ronak Jhuthawat & Co, Practicing Company Secretary had been appointed to issue Secretarial Audit Report for the financial year 2022-2023.

Secretarial Audit Report issued by Ronak Jhuthawat & Co, Practicing Company Secretaries in Form MR-3 for the financial year 2022-2023 forms part of this report and attached as Annexure- I.

The replies to the comments of the Secretarial Auditors in the Auditor's Report are as follows:

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with Notifications/Circulars issued by the Ministry of Corporate Affairs from time to time, the Company is not required to appoint Cost Auditor.

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the Company is not required to maintain Cost Records under said Rules.

In accordance with the provisions of Section 138 of the Companies Act, 2013 and Rules framed thereunder, the Board has appointed M/s. Valawat & Associates, Chartered Accountants to conduct the Internal Audit of the Company for the Financial Year 2022-23.

M/s. Valawat & Associates, Chartered Accountants, who were appointed as Internal Auditors of the Company for the F.Y. 2022-2023 has issued their internal audit report dated August 28, 2023, and it contains no adverse remarks or observations.

7. Other Disclosures:

Other disclosures as per provisions of Section 134 of the Act read with Companies (Accounts) Rules, 2014 are furnished as under:

There were no significant and material orders issued against the Company by a regulating authority or court or tribunal that could affect the going concern status and company's operation in future.

In terms of Section 134(5) of the Companies Act, 2013, in relation to the audited financial statements of the Company for the year ended March 31, 2023, the Board of Directors hereby confirms that:

(i) in the preparation of the Annual Accounts for the year ended March 31, 2023, the applicable accounting standards had been followed along with proper explanation relating to material departures.

(ii) such accounting policies have been selected and applied consistently and the Directors 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, 2023, and of the profit of the Company for the year ended as on that date.

(iii) proper and sufficient care was taken 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.

(iv) the annual accounts of the Company have been prepared on a going concern basis.

(v) That the directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively.

(vi) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

The Company has zero tolerance towards sexual harassment at the workplace and has adopted a policy on prevention, prohibition, and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder.

The Company had constituted a committee called as Internal Complain Committee for prevention and prohibition of Sexual Harassment of woman at workplace and complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 [14 of 2013.]

The Company has not issued any shares with differential rights and hence no information as per provisions of Section 43(a)(ii) of the Act read with Rule 4(4) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54(1)(d) of the Act read with Rule 8(13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

The Company has not issued any equity shares under the Employees Stock Option Scheme during the year under review and hence no information as per provisions of Section 62(1)(b) of the Act read with Rule 12(9) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

During the year under review, there were no instances of non-exercising of voting rights in respect of shares purchased directly by employees under a scheme pursuant to Section 67(3) of the Act read with Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014 is furnished.

No application was filed for corporate insolvency resolution process, by a financial or operational creditor or by the company itself under the IBC before the NCLT.

There was no instance of a one-time settlement with any Bank or Financial Institution.

j) Human Resources:

Your Company treats its "Human Resources" as one of its most important assets. Your

Company continuously invests in the attraction, retention, and development of talent on an ongoing basis. A number of programs that provide focused people's attention are currently underway. Your Company's thrust is on the promotion of talent internally through job rotation and job enlargement.

As on March 31, 2023, there were a total of 8 employees. The Company has all the required policies under the Indian laws for the time being in force and as required under the Companies Act, 2013 and SEBI LODR Regulations, 2015 to protect and safeguard the interest of the employees.

The particulars of remuneration to directors and employees and other related information required to be disclosed under Section 197 (12) and sub rule 1 of rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014the Companies Act, 2013 and the Rules made thereunder are given in "Annexure II" to this Report.

Further the Company has no employee who is in receipt of remuneration of Rs. 8,00,000 /- per month or INR 1,02,00,000/- per annum and hence the Company is not required to give information under sub rule 2 and 3 of rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The details for the top ten employees of the Company are also mentioned in Annexure II to this report.

Management Discussion and Analysis Report as required under Regulation 34 and Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is furnished as "Annexure III."

The Central Government has given approval on April 10, 2015, to the Secretarial Standards specified by the Institute of Company Secretary of India, the Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) came into effect from 1 July 2015.

The Company is in compliance with the same.

Your Company is committed to maintaining the highest standards of corporate governance. We believe sound corporate governance is critical to enhance and retain investor trust. Our disclosures seek to attain the best practices in corporate governance. The Board considers itself as a trustee of its shareholders and acknowledges its responsibilities towards them for the creation and safeguarding of their wealth. In order to conduct business with these principles the company has created a corporate structure based on business needs and maintains a high degree of transparency through regular disclosures with a focus on adequate control systems. As per provisions of Regulation 15 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Corporate Governance Report for the financial year 2022-2023 is not applicable to the Company as the paid-up share capital is less than Rs. 10 Crores and the Net worth is less than Rs. 25 Crores.

The Board has laid down a specific code of Conduct for all Board Members and Senior Management of the Company. All the Board Members and Senior Management Personnel have affirmed compliance with the Code on an annual basis.

The Board has in consultation with the Stakeholder's Relationship Committee laid down the policy to regulate and monitor Insider Trading in the Company. The Committee regularly analyses the transactions and monitors them to prevent Insider Trading. The Company has also adopted a Prohibition of Insider Trading Policy.

The Board believes that effective communication of information is an essential component of Corporate Governance. The Company regularly interacts with its shareholders through multiple channels of communication such as the Company's Website and stipulated communications to the Stock Exchange where the Company's shares are listed for the announcement of Financial Results, Annual Report, Notices, Outcome of Meetings, and Company's Policies etc.

Pursuant to the provisions of Section 135 of the Companies Act, 2013 Corporate Social Responsibility is not applicable to the Company during the Financial Year 2022-2023 as the Company is not having net worth of Rs. 500 Crore or more, turnover of Rs. 1000 Crore or more or net profit of Rs. 5 Crore or more during the immediately preceding Financial Year 2021-2022.

s) Website:

The Company has a website addressed as https://www.deepdiamondltd.co.in/investors.html.

Website contains the basic information about the Company - details of its Business, Financial Information, Shareholding Pattern, Contact Information of the Designated Official of the Company who is responsible for assisting and handling investors grievances and such other details as may be required under sub regulation (2) of Regulation 46 of the Listing Regulations, 2015. The Company ensures that the contents of this website are periodically updated.

t) Indian accounting standards IFRS converge standards:

The Ministry of Corporate Affairs vides its notification dated 16th February 2015 notified under Section 133 of the Companies Act 2013 read with Companies (Indian Accounting Standards) Rules, 2015. In pursuance of the said notification, your Company has prepared the financial statements to comply in all material respects accordance with the applicability of Indian Accounting Standards.

The Equity shares of the Company are listed on BSE Limited, Main Board.

Your Company's equity shares are in Demat and Physical form. The Company has appointed Central Depository Services India Limited (CDSL) as designated depositories to the Company.

Deep Diamond India Limited has listed its equity shares on the Main Board of BSE Limited. The listing fees have been duly paid to the exchange and annual custodial fees have been paid to CDSL and NSDL for F.Y. 2022-2023.

8. Acknowledgements and Appreciation:

Your directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent support and encouragement to the Company.