Vanta Bioscience Ltd Directors Report

Dear Members,

Your Directors have pleasure in presenting herewith the 8th Annual Report on the business of the Company together with the Audited Financial Statements for the financial year ended March 31, 2024.

OUR BUSINESS

Vanta Bioscience Limited (VBS) is a preclinical contract research organization, offering a host of preclinical safety assessment services for clientele from Pharmaceutical, Medical Devices, Nutraceuticals, Feed Additive, Biotech, Agrochemicals, Cosmetics, and Chemical industries. In addition, we also provide risk assessment services for evaluating the safety of the Active Pharmaceutical Ingredients (API), excipients, extractable and leachables including pharmaceutical impurities resulting due to manufacturing process or due to degradation of the product. VBS also provides expert services for determination of health based exposure limits (e.g. permitted daily exposure (PDE) or allowable daily exposure (ADE) including occupational exposure limits (OEL) for pharmaceutical manufacturers.

FINANCIAL HIGHLIGHTS

The following are the financial highlights of the Company:

(Amount in Rs. in Thousands)

	STANDALONE BASIS		CONSOLIDATED BASIS
Particulars	31.03.2024	31.03.2023	31.03.2024	31.03.2023
Total Revenue	86,055.78	57,963.24	98,292.14	69,630.16
Total Expenses	85,638.84	1,00,036.77	1,86,557.66	1,72,259.26
Profit before tax	416.94	-42,073.53	-88,265.52	-1,02,629.10
Current Tax	65.04	-	65.04	-
MAT Credit Availed	65.04	-	65.04	-
Deferred Tax	(93.59)	281.27	-2,201.79	1818.75
Profit after tax	510.53	-42,354.80	-86,063.73	-1,04,447.84
Less:MinorityInterest	-	-	-62,904.90	-39,641.05
Profit	510.53	-42,354.80	-23,158.83	-64,806.79

There were no changes in the nature of business of the Company.

CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP)

CIRP Proceedings were initiated on the Company vide order of Honble National Company Law Tribunal, Hyderabad Bench ("NCLT") dated 27.04.2022 pursuant to which the Board of the Company was suspended and the powers were vested with the appointed IRP. The said order was challenged and appealed by the Promoters of the Company before the National Company Law Appellate Tribunal ("NCLAT") and the Bench had given an interim stay on the CIRP Proceedings and later upheld the order of NCLT and the CIRP was initiated again. The matter then went to the Honble Supreme Court and during the course of the proceedings before the Supreme Court, the Parties have settled the entire dispute and the Promoter has undertaken to pay a total amount of Rs. 90 Lakhs to the operational creditor which shall be full and final settlement of all claims and demands of the respondent, in multiple tranches upto May 15, 2023 as specified in the order dated February 10, 2023 of the Honble Supreme Court. The order of Supreme court, considering the settlement terms have further directed that the impugned order of NCLT dated 27.04.2022 and NCLAT dated 09.01.2023 shall stand set aside conditional on the appellant observing the schedule for payment.

The said payment as directed by the Honble Supreme Court was duly made to the operation creditor and the matter stands resolved. Accordingly, the Board of the Company was duly revived and the operations were carried out by the Board post the said order.

DIVIDEND

The Board has not recommended any dividend for the financial year 2023-24.

TRANSFER TO RESERVES

No amount has been transferred to general reserves during the year under review. Reserves and Surplus are disclosed in Note 4 of the financial statements.

DEPOSITS

The Company has neither accepted nor renewed any deposits from public as defined under the provisions of Companies Act, 2013 and Companies (Acceptance of Deposits) Rules, 2014. However, the Company has outstanding loans from Mr. Dopesh Raja Mulakala (DIN 01176660), Managing Director of the Company. The Company has further taken unsecured loan from Mr. Simhadri Chandra Sekhar Rao, Promoter of the Company in pursuance to the stipulation imposed by bank on the Promoter. Details of the above said borrowings are mentioned in Note 6,7 and 34 of the financial statements

SUBSIDIARIES AND ASSOCIATE COMPANIES

Your Company has 1 subsidiary and 1 associate company, details of which are given below:

VANTA CLINICAL RESEARCH LIMITED ("VCRL")

VCRL is a Wholly Owned Subsidiary of Vanta Bioscience Limited incorporated on September 12, 2018 with the object of dealing in the business of Research & Development in the field of discovery and development of drugs, biologicals, vaccines, gene-based therapies in vitro, ex-vivo and in vivo techniques for screening and evaluation of drugs, dermaceuticals and cosmetics, clinical data management, statistical analysis, pharmacovigilance, medical writing, bio informatics, computer-aided drug designing, biotechnology, life sciences, diagnostic services and such other similar activities.

The paid up capital of VCRL as on March 31, 2024 was Rs. 3,00,00,000/-. There were no operations during the year under review. The Company had incurred a total expenditure of Rs. 1,21,290/- and accordingly had a Loss after Tax Rs. 1,21,290/-

VCRL is a 100% subsidiary of our Company and has contributed accordingly to the overall performance of the Company.

CEBIS INDIA LIMITED ("CEBIS")

Vayam was incorporated with the object of carrying business of providing research and development, full range of clinical studies in the areas of pharmaceuticals industry, agro, chemical, food cosmetics and medical devices. The name of the Company was changed to CEBIS India Limited during the year under review.

As on March 31, 2024, VCRL holds 30,00,000 equity shares of Rs. 10/- each which is 27.34% of the total shareholding of CEBIS. Accordingly, CEBIS is an in-direct associate of Vanta Bioscience Limited. Kindly refer the Consolidated notes for further details.

The paid up capital of CEBIS as on March 31, 2024 was Rs. 10,97,40,000/-. The total revenue earned during the year was Rs. 1,16,49,430/- as against a total expenditure of Rs. 10,07,97,590/-. The loss after tax was Rs. 8,64,53,030/-

CEBIS is an indirect associate of our Company and has accordingly contributed to the overall performance of the Company.

During the year under review, there was a change in the shareholding of VCRL in CEBIS from 36.04% to 27.34%. The reduction is due to fresh issue of shares by CEBIS and there has been no change in the number of shares.

The statement containing the salient features of the subsidiaries, its highlights of performance and their contribution to the overall performance of the Company as per sub-sections (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014 and other applicable provisions of the Companies Act 2013 are disclosed in Form AOC-1 and the same is herewith annexed as Annexure- 1 to this report.

The Annual Report of the Company, containing therein its standalone and the consolidated financial statements has been placed on the website of the Company www.vantabio.com. Further, audited annual accounts of each of the subsidiary companies have also been placed on the website of the Company. Shareholders interested in obtaining a physical copy of the audited annual accounts of the subsidiary companies may write to the Company Secretary requesting for the same.

Except as stated above, there were no associates or joint ventures of the Company as on the end of financial year March 31, 2024. There were no companies which have ceased to be our subsidiaries, joint ventures or associate companies during the financial year 2023-24.

DETAILS OF DIRECTORS

In accordance with the provisions of Section 152 of the Companies Act, 2013, Mr. Dopesh Raja Mulakala (DIN: 01176660), Managing Director of the Company is liable to retire by rotation, being eligible offers himself for re-appointment.

Owing to CIRP, the Board of the Company was suspended and the Company was run by Interim Resolution Professional, Mr. Kurapati S Chowdary. He ceased to be the IRP/RP subsequent to order of Honble Supreme Court dated February 10, 2023 and subsequent compliance

During the year under review, the following changes took place in the composition of Board of Director and KMPs of the Company

S.No. Name of the Director/KMP	Particulars
1 Ms. Vidisha Rathod	Resigned as Company Secretary and Compliance officer of the Company w.e.f 10.07.2023
2 Mr. Dopesh Raja Mulakala	Reappointment w.e.f April 18, 2023 for another term of 3 years upto April 17, 2026 subject to the approval of the shareholders
	The same was approved by the shareholders in the 7th AGM held on 30.09.2023
3 Dr. Vyasmurti Madhavrao Shingatgeri	Reappointment w.e.f April 1, 2023 for another term of 3 years upto March 31, 2026 subject to the approval of the shareholders.
	The same was approved by the shareholders in the 7th AGM held on 30.09.2023
4 Dr. Vyasmurti Madhavrao Shingatgeri	Change in designation from Whole Time Director to Director w.e.f 14.11.2023

Apart from above, there were no changes that took place on the Board and the KMPs of the Company. Subsequent to the end of financial year, the following changes took place in the Board and KMPs

S.No. Name of the Director/KMP	Particulars
1 Ms. Sangeetha Padam Choudhary	Appointed as Company Secretary and Compliance officer of the Company w.e.f 01.04.2024
2 Mr. Mohan Krishna Mulakala	Resignation as Director of the Company w.e.f 20.07.2024
3 Dr. Vyasmurti Madhavrao Shingatgeri	Resignation as Director of the Company w.e.f 19.07.2024
4 Dr. Padmanabhuni Venkata Appaji	Re-appointment as Independent Director of the Company for a 2nd term of 5 years upto May 15, 2028 subject to the approval of shareholders
5 Dr. Gonuguntla Kathyayani	Re-appointment as Independent Director of the Company for a 2nd term of 5 years upto May 15, 2028 subject to the approval of shareholders
6 Dr. Yogeswara Rao Danda	Re-appointment as Independent Director of the Company for a 2nd term of 5 years upto May 20, 2029 subject to the approval of shareholders

INDEPENDENT DIRECTORS

The Independent Directors of the Company have given the declaration and confirmation to the Company as required under Section 149(7) of the Companies Act, 2013 and Regulation 25(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 confirming that they meet the criteria of independence and that they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgement and without any external influence. Except Mr. Yogeswara Rao Danda (DIN:00694803), all Independent Directors are exempted/passed the online proficiency self-assessment test. Mr. Yogeswara Rao Danda shall complete the online proficiency self-assessment test within the time lines upon payment of the requisite amount in compliance with the provisions of the Companies Act.

MEETINGS OF THE BOARD AND COMMITTEES

During the year under review, the following took place:

Seven (7) Board Meetings were held on 16.05.2023, 05.06.2023, 02.08.2023, 10.08.2023, 06.09.2023, 14.11.2023 and 01.03.2024

Four (4) Audit Committee meetings were held on 16.05.2023, 10.08.2023, 06.09.2023, and 14.11.2023

Four (4) Nomination and Remuneration Committees meetings were held on 16.05.2023, 10.08.2023, 06.09.2023, and 14.11.2023

Two (2) Stakeholders Relationship Committee meeting were held on 16.05.2023 and 10.08.2023. The Board and committee meetings of the Company were held in compliance with all the applicable provisions of the Companies Act, 2013, SEBI (LODR) Regulations, 2015 and the secretarial standards.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, during the period under review , the Board evaluated the effectiveness of its functioning and that of the Committees and of individual directors by seeking their inputs on various aspects of Board/ Committee Governance.

The aspects covered in the evaluation included the contribution to and monitoring of corporate governance practices, participation in the long-term strategic planning and the fulfilment of Directors obligations and fiduciary responsibilities, including but not limited to, active participation at the Board and Committee meetings. The Chairman of the Board had one-on-one meetings with the Independent Directors. These meetings were intended to obtain Directors inputs on effectiveness of Board/ Committee processes. Further, the Independent Directors at their meeting, reviewed the performance of Board, Chairman of the Board and of Non-Executive Directors. The Company has proper systems, processes in place for the purpose of evaluation of the Board individually and as a whole

STATUTORY AUDITORS

M/s. Mathesh & Ramana, Chartered Accountants (FRN 002020S) were appointed as the statutory auditors of the Company by the members in their 2nd AGM held on August 21, 2018 for a period of 5 years from the conclusion of the 2nd Annual General Meeting of the Company held on August 21, 2018 till the conclusion of 7th Annual General Meeting. Accordingly, the said auditors have carried out the audit for FY 2022-23. The term of the said auditors expired at the conclusion of the 7th AGM of the Company. The said auditors were further appointed for a period of 5 years i.e. from the conclusion of the 7th AGM till the conclusion of the 12th AGM of the Company by the shareholders in their 7th AGM held on 30.09.2023. Accordingly, the said auditors have carried out the statutory audit for FY 2023-24.

AUDITORS REPORT

The Standalone and Consolidated Auditors Report does not contain any qualifications or remarks. However, the reports and notes have certain observations w.r.t delay in depositing of statutory dues and statutory dues which are outstanding for more than 6 months from the date they became payable, loans provided to subsidiaries & also without specifying its terms, default in repayment of loans and interest to State Bank of India, incurring of cash losses, no actuarial valuation for gratuity and others, subsidiary not starting its commercial operations, accumulated loss has eroded the Networth of the Subsidiary Group, its going concern status, not creating provision for gratuity and others. Kindly refer the Standalone and Consolidated Audit Report, annexures and notes for details.

BOARDS RESPONSE:

The above said observations are majorly due to liquidity issues being faced by the Company. The CIRP proceedings have left a negative impact on the functioning of the Company and certain experienced employees of the Company have also left the organization due to NCLT related litigation. The management is putting in its best efforts to revive the Company on priority basis. The Management shall ensure timely payment of statutory dues and other payments and shall further ensure that the other observations of the auditors are rectified as soon as possible by taking necessary steps in connection with the same. Further, Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments. Further details are also disclosed at various places in this Boards Report and in the financial statements.

There were no frauds reported by the Statutory Auditors of the Company during the year under review.

SECRETARIAL AUDIT REPORT

Putcha Sarada, Practicing Company Secretary were appointed to conduct the secretarial audit of the Company for the financial year 2023-24, as required under Section 204 of the Companies Act, 2013 and rules there-under. The secretarial audit report for FY 2023-24 forms part of this Annual Report as Annexure II.

There are certain observations, qualifications or remarks in the report. The said lapses are owing to the cascading effect of the CIRP Proceedings on the Company. Various experienced employees handling related issues have left the organization as well during the said period. The Company is in the process of taking necessary steps in connection with the same and to regularize the same. The Company shall ensure that such lapses/non-compliances shall not incur in the future.

CHANGES IN THE AUTHORIZED AND PAID UP CAPITAL

The Authorized Share Capital of the Company is Rs. 7,50,00,000/- (Rupees Seven Crore and Fifty Lakhs only) and the paid up capital of the Company as at the end of the financial year was Rs.6,31,20,000/- (Rupees Six Crore Thirty-One Lakh and Twenty Thousand Only) comprising of 63,12,000 (Sixty-Three Lakh and Twelve Thousand) equity shares of Rs. 10/- (Rupees Ten Only) each.

During the year under review, there was no change in the authorized and paid up share capital of the Company.

AUDIT COMMITTEE

The Company has a duly constituted Audit Committee. The Audit Committee comprises of:

Name of Director	Status in Committee	Nature of Directorship
Dr. Padmanabhuni Venkata Appaji	Chairman	Independent Director
Dr.Yogeswara Rao Danda	Member	Independent Director
Mr. Dopesh Raja Mulakala	Member	Managing Director

The Committee inter alia reviews the Internal Control System, Reports of Internal Auditors and Compliance of various regulations and all other matters as required under the Companies Act and SEBI (LODR) Regulations. The Committee also reviews the financial statements before they are placed before the Board. The Board of Directors of the Company have accepted all the recommendations given by the Audit Committee. The Committee is formed and functions in accordance with the provisions of the Companies Act and SEBI LODR regulations as applicable.

STAKEHOLDERS RELATIONSHIP COMMITTEE

The Company has a duly constituted stakeholders relationship committee. The Committee comprises of the following members:

Name of Director	Status in Committee	Nature of Directorship
Dr. Padmanabhuni Venkata Appaji	Chairman	Independent Director
Dr.Yogeswara Rao Danda	Member	Independent Director
Mr. Dopesh Raja Mulakala	Member	Managing Director

NOMINATION AND REMUNERATION POLICY

The Committee is formed and functions in accordance with the provisions of the Companies Act and SEBI LODR regulations as applicable.The Company has a duly constituted "Nomination and Remuneration Committee". The Committee has formulated a policy. The sailent features are it provides for Directors appointment and remuneration, including criteria for determining qualifications, positive attributes, independence of a Director and other matters and proper systems for identification, appointment of Directors & KMPs, Payment of Remuneration to them and evaluation of their performance and to recommend the same to the Board from time to time.

The Nomination and remuneration policy of the Company available on the website of the company at www.vantabio.com. There was no change in the policy during the year under review.

The Nomination and Remuneration Committee include the following:

Name of Director	Status in Committee	Nature of Directorship
Dr.Yogeswara Rao Danda	Chairman	Independent Director
Dr. Padmanabhuni Venkata Appaji	Member	Independent Director
Dr. Kathyayani Gonuguntla	Member	Independent Director

The Committee is formed and functions in accordance with the provisions of the Companies Act and SEBI LODR regulations as applicable.

CORPORATE SOCIAL RESPONSIBILITY

The provisions of Section 135 of the Companies Act, 2013 in connection with corporate social responsibility are not applicable to the Company.

VIGIL MECHANISM

Pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 and the applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Vigil Mechanism or Whistle-Blower Policy for directors, employees and other stakeholders to report genuine concerns has been established. The same is also uploaded on the website of the Company www.vantabio.com

RISK MANAGEMENT POLICY

The Risk Management is overseen by the Audit Committee of the Company on a continuous basis. The Committee oversees Companys process and policies for determining risk tolerance and review managements measurement and comparison of overall risk tolerance to established levels. There are no material risks which threaten the very existence of the company.

INTERNAL FINANCIAL CONTROLS

The Company has adequate internal financial controls which commensurate with the size of the business of the Company.

The Board had appointed M/s. V Ramachandra Rao., Chartered Accountants (M. No 203292) as the Internal Auditor of the Company for conducting the Internal Audit of the Company for a period of two financial years i.e., 2022-23 and 2023-24.

Accordingly, they have carried out the internal audit for FY 2023-24. There were no observations or remarks reported by the said auditors of the Company during the year under review.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (5) of the Companies Act, 2013 Your Directors confirm that:

I. in preparation of annual accounts for the financial year ended March 31, 2024 the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii. 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 true and fair view of the state of affairs of the Company at the end of the financial year ended March 31, 2024 and of the profit and loss of the Company for the year;

iii. the Directors have taken proper and sufficient care for their maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. the Directors had prepared the annual accounts on a going concern basis;.

v. the Directors, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

vi. the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE OUTGO

Information required under section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is enclosed herewith as Annexure III.

ANNUAL RETURN

Form MGT 7 - the annual return of the Company for FY 2023-24 shall also be uploaded on the website of the Company. The link of the same is https://www.vantabio.com/investor-relations/

PARTICULARS OF EMPLOYEES

Disclosure under Rule 5 of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 is enclosed as

Annexure IV.

Pursuant to Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, during the financial year no employee was in receipt of remuneration of Rs. 1.02 Crore or more, or where employed for part of the year was in receipt of Rs. 8.5 Lakh or more a month and accordingly disclosure under Rule (2) is not required.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report as required under Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed as Annexure - V to this report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The loans, investment and guarantees provided by the Company during the year has not exceeded the limit approved by the shareholders in accordance with Section 186 of the Companies Act, 2013. The Company is in compliance with the provisions of Section 186 of the Companies Act.

The Company has investments in its Wholly Owned Subsidiary Vanta Clinical Research Limited. Details of loans, investments and guarantees as applicable are disclosed in Note 12 of the financial statements and also at other places in the financial statements.

LISTING ON SME PLATFORM OF BSE

The equity shares of the Company are listed on the SME Platform of BSE Ltd. The Company confirms that the annual listing fees to the stock exchanges for the financial year 2023-24 have been paid.

COST RECORDS

The provisions of cost records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 are not applicable to the Company.

RELATED PARTY TRANSACTIONS

There were no materially significant related party transactions with the Companys Promoters, Directors, Management or their relatives, which could have had a potential conflict with the interests of the Company. All related party transactions entered by the Company under Section 188 of the Companies Act, 2013 are at arms length and in the ordinary course of business. These related party transactions have been entered considering the business requirements, administrative convenience and in the best interest of the Companies.

The Company has entered into any transactions with person or entity belonging to the promoter/promoter group which holds 10% or more shareholding in our Company. Details of the same are disclosed in Note 34 of the financial statements.

Details of all related party transactions are disclosed in Note 34 of the financial statements.

DISCLOSURE OF RELATED PARTY TRASACTIONS WITH SUBSIDIARIES

The Company has invested an amount of Rs. 3,00,00,000/- (Rupees Three Crore Only) towards subscription to the equity shares of its Wholly owned subsidiary - Vanta Clinical Research Limited. Further, the Company has also entered transactions with both its subsidiary and associate Companies i.e., Vanta Clinical Research Limited and CEBIS India Limited.

Details of all related party transactions with the said companies are disclosed in Note 34 of the financial statements.

RECLASSIFICATION OF PROMOTERS

Dr. Vyasmurti Madhavrao Shingatgeri and Mr. Pradeep Chowdary Veeramachineni, Promoters vide theirletters dated 19.07.2024 have requested for reclassification from Promoter to Public category in terms of Regulation 31A of SEBI (LODR) Regulations. The Board of the Company in their meeting held on 19.07.2024 has approved the same and has filed necessary application with BSE Ltd for their approval. The said application has been kept on hold by BSE Ltd. owing to outstanding SOP fine levied by BSE ltd and to be paid by the Company for certain non-compliances under SEBI (LODR) Regulatons. The Company has filed a waiver request and awaiting revert from BSE on the waiver application. Necessary steps will be taken by the Company accordingly.

GENERAL

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

1. Issue of equity shares with differential rights as to dividend, voting or otherwise.

2. Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

3. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Companys operations in future.

4. No material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year and date of report.

5. No change in the nature of business of the Company.

6. There was no instance of one time settlement with any Bank or financial institution.

7. There is no proceeding pending under the Insolvency and Bankruptcy code, 2016. An application was filed under Section 9 of Insolvency and Bankruptcy Code, 2016 before the National Company LawTribunal, Hyderabad Bench by Mr. S Venkata Rao (Whole Time Director & CEO of the Company who has resigned w.e.fclosing hours of January 04, 2021) alleging to a default in payment of salary and interest thereon aggregating to Rs. 1.18 Crand seeking initiation of Corporate Insolvency Resolution Process against the Company. The said dispute has been settled before the Honble Supreme Court and the matter now stands resolved. The details of the same are given above.

8. BSE has levied a penalty of Rs. 36,88,680/- including GST for non-compliances of Regulation 33, Regulation 34 and Regulation 6(1) of SEBI (LODR) Regulations for certain quarters. The Company has filed waiver applications requesting BSE to waive off the penalty as the said non-compliances were majorly during the period when the Company was being run by IRP/RP and the Board was suspended. The Company has not received any response and the same is in process.

9. There are no shares lying in Demat suspense account or unclaimed suspense account.

The Company has complied with all the provisions of the secretarial standards as applicable to the Company.

The Company being listed on SME Exchange. Para C, D and E of Schedule V of SEBI (LODR) Regulations, 2015 in connection with disclosures in the annual report are not applicable to the Company.

INSIDER TRADING REGULATIONS

Based on the requirements under SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time, the code of conduct for prevention of insider trading and the Code for Corporate Disclosures ("Code"), as approved by the Board from time to time, are in force by the Company. The objective of this Code is to protect the interest of shareholders at large, to prevent misuse of any price sensitive information and to prevent any insider trading activity by dealing in shares of the Company by its Directors, designated employees and other employees.

The Company also adopts the concept of Trading Window Closure, to prevent its Directors, Officers, designated employees and other employees from trading in the securities of Vanta Bioscience Limited at the time when there is unpublished price sensitive information.

OBLIGATION OF THE COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

In order to prevent Sexual Harassment of Women at Workplace a new act "The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013" has been notified on 9th December, 2013. The company has 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.

The Company has adopted "Anti-Sexual Harassment Policy" constituted "Redressal Committee" as required under section 4 (1) of Sexual harassment of Women at work place (Prevention, Prohibition and Redressal) Act, 2013.

During the year under review, there were no cases filed/registered pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation of the continued patronage extended to the Company by bankers, dealers, customers, suppliers, employees and shareholders. The trust reposed in your Company by its esteemed customers helped stabilized growth during the year review.

Your Company also acknowledges the support and guidance received from its Bankers, other government agencies during the year under review and look forward to continuing support.

	For and on behalf of the Board
Sd/-	Sd/-
DOPESH RAJA MULAKALA	YOGESWARA RAO DANDA
Managing Director	Independent Director
DIN: 01176660	DIN: 01448535
September 06, 2024
Secunderabad