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d)  The Real Estate (Regulation and Development Act) Act,   the incidences where, for the purpose of any Board or Committee
                2016 (RERA 2016) and Maharashtra Real Estate (Regulation   Meeting,  notice,  agenda  or  notes  to  agenda  are  circulated  with
                and  Development)(Registration  of  real  estate  projects,   shorter period of less than seven days, all the Directors including
                Registration of real estate agents, rates of interest and   Independent Directors have consented to the shorter period of
                disclosures on website) Rules, 2017,  The Karnataka Real   circulation of the same.
                Estate  Regulation and Development  Rules, 2017  and   All decisions at Board Meetings and Committee Meetings are carried
                The Goa Real Estate (Regulation and Development)   out unanimously as recorded in the minutes of the meetings of the
                (Registration of Real Estate Projects, Registration of Real   Board of Directors or Committees of the Board, as the case may be.
                estate agents, rates of Interest and Disclosures on Website )
                Rules, 2017.                                 We further report that there are adequate systems and processes
          We have also examined compliance with the applicable clauses and   in the Company commensurate with the size and operations of the
          regulations of the following:                      Company to monitor and ensure compliance with applicable laws,
                                                             rules, regulations and guidelines.
          (i)  Secretarial Standards issued by  The Institute of Company
             Secretaries of India; and                       We further report that during the audit period, there were no specific
                                                             events / actions having a major bearing on the company’s affairs in
          (ii)  The Listing Agreements for Equity entered into by the Company   pursuance of the above referred laws, rules, regulations, guidelines,
             with Stock Exchange(s) pursuant to SEBI (Listing Obligations and   standards, etc. except following:
             Disclosure Requirements) Regulations, 2015 (LODR) including
             any amendments thereof.                         1.   The Company has purchased 50,00,000 Equity Shares from lDBl
          During the period under review the Company has complied with the   Trusteeship Services Limited, Trustees of India Advantage Fund
          provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.   lll and lV (Fund Managers - lClCl Venture Funds Management
          mentioned above subject to following observation:     Limited) of Kolte-Patil I-Ven  Townships (Pune) Limited (‘the
                                                                associate company’) and  became its  holding company  with
          1.Pursuant to sub section 5 of Section 124 of the Act read with sub   95% equity shareholding.
          rule (1) of Rule 5 of Investor Education and Protection Fund Authority   2.   The members of the Company have consented to the Board
          (Accounting, Audit, Transfer and Refund) Rules, 2016, the transfer of   to offer, issue and allot equity shares and/or any type of debt
          unpaid or unclaimed dividend amount to IEPF have been made beyond   instruments and /or Global Depository Receipts (“GDRs”) and
          the time prescribed therefor.
                                                                /or American Depository Receipts (“ADRs”) by various modes
          We further report that,                               for  an  amount  not  exceeding  C500,00,00,000/-  (Rupees  Five
                                                                Hundred Crores only) by passing special resolution in its annual
          The Board of Directors of the Company is duly constituted with   general meeting held on 21st September, 2019.
          proper balance of Executive Directors, Non-Executive Directors and
          Independent Directors. There were no changes in the composition   3.   The National Company Law Tribunal, Mumbai Bench vide its
          of the Board of Directors during the period under review.  order dated 04th November, 2019 has approved the scheme of
                                                                merger by absorption of Bellflower Properties Private Limited
          Adequate notice is given to all directors to schedule the Board   (wholly owned subsidiary) with the Company. Further, post
          Meetings, agenda and detailed notes on agenda were sent at least   approval of scheme of merger, the authorized capital of the
          seven days in advance and a system exists for seeking and obtaining   Company has been increased by 10,00,000 (Ten Lakhs) equity
          further information and clarifications on the agenda items before the   shares of C10 each.
          meeting and for meaningful participation at the meeting. Further, in

          Place: Pune                                                                         For SVD & Associates
          Date: June 23, 2020                                                                 Company Secretaries

                                                                                                 Sridhar Mudaliar
                                                                                                   FCS No: 6156
                                                                                                    C P No: 2664
                                                                                          UDIN: F006156B000363141

          Note: This report is to be read with letter of even date by the Secretarial Auditors, which is annexed as Annexure A and forms an integral part
          of this report.

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