Equity Analysis

To,

The Members,

Your Directors have pleasure in presenting their 41^st Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2023.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY.

Your Board is pleased to present the highlights of the Standalone & Consolidated financial statement of your company for the financial year 2022-23 and 2021 22 as under:

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

The profit of the company (PAT) for the year under review is Rs 9922.22/- as against profit of Rs 10119.36 /- in the previous year.

3. CHANGE IN THE NATURE OF BUSINESS

Your Directors are please to inform you that there was no change in the nature of business of our Company during the Financial Year under review.

4. DIVIDEND

Your Directors decided and declare to plough back the profits for the year under review into the growth opportunities which shall create value for the shareholders and therefore does not recommend any dividend for the year under review.

5. RESERVES

Your company has not transferred any amount to the reserves of the company.

6. CHANGE OF NAME

Your company's name is CONSECUTIVE INVESTMENTS & TRADING COMPANY LIMITED and there is no change in its name during the year under review.

7. SHARE CAPITAL

Your Directors further ensures that during the year under review your company has not bought back any of its securities or issued any Sweat Equity Shares or issued any Bonus Shares or provided any Stock Option Scheme to the employees.

8. DIRECTORS AND KEY MANAGERIAL PERSONNEL a) Retire by rotation.

Ms. Smita Murarka (DIN : 07448865), who retire by rotation at the ensuing general meeting pursuant to section 152 of the Companies Act, 2013 and being eligible offer herself for reappointment. Your Director recommends his re- appointment. The details are given in Annexure I forming part of the Board Report.

9. DECLARATION BY INDEPENDENT DIRECTOR

Your Company has received declaration from all the Independent Directors of the company, pursuant to the provisions of Section 149(7) of the Companies Act, 2013 stating that they meet the criteria of Independence as laid down under section 149(6) of the Companies Act, 2013.

Your Directors ensures that none of the employees of your company is in receipt of salary and / or remuneration in excess of the threshold limit, pursuant to the provisions of Rule 2 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

A calendar of Meetings is prepared and circulated in advance to the Directors. During the Financial Year 2022-2023 Four (4) Board Meetings were held, the dates of the meeting being 30/05/2022, 13/08/2022,14/11/2022 and 01/02/2023. The intervening gap between any two meetings held during the year was not more than one hundred and twenty days. b) Audit Committee Meeting

A calendar of Audit Committee Meetings is prepared and circulated in advance to the Members of the Committee. During the Financial Year 2022-23 four (4) meeting of the Committee was held, the date of the meetings was 30/05/2022, 13/08/2022, 14/11/2022 and 01/02/2023. c) Nomination & Remuneration Committee.

A calendar of Nomination and Remuneration Committee Meeting is prepared and circulated in advance to the Members of the Committee. During the Financial Year 2022 23 five (4) meeting of the Committee was held, the date of the meeting was 21/05/2022, 30/08/2022, 02/12/2022 and 22/02/2023. d) Shareholders Grievance Committee Meeting.

A calendar of Shareholders Grievance Committee Meeting is prepared and circulated in advance to the Members of the Committee. During the Financial Year 2022 23 four (4) meeting of the Committee was held, the date of the meeting were 21/05/2022, 22/07/2022., 02/12/2022 and 14/03/2023 e) Risk Management Committee Meeting.

A calendar of Risk Management Committee Meeting is prepared and circulated in advance to the Members of the Committee. During the Financial Year 2022-23 four (4) meeting of the Committee was held, the date of the meeting were 26/05/2022, 30/08/2022, 25/11/2022 and 24/03/2023

BOARD OF DIRECTORS

The Board of the company is headed by Mr. Vijay Kumar Jain of the company, an eminent person of high credentials and of considerable professional experience who actively contributed in the deliberation of the Board. As on close of business hours of March 31, 2023 the Board comprised of four directors as mentioned below:

AUDIT COMMITTEE

The chairman of the Audit Committee of the Company constituted under Section 177 of the Companies Act, 2013 by the Board is headed by the Mrs. Kanta Bokaria, (DIN: 09278050) Independent Director of the company. She is an eminent lady of high credentials and of considerable professional experience. As on close of business hours of March 31, 2023 the Board of Audit Committee comprised of four directors as mentioned below.

NOMINATION & REMUNERATION COMMITTEE

The chairman of the Nomination and Remuneration Committee of the Company constituted under Section 178 of the Companies Act, 2013 by the Board is headed by Mrs. Kanta Bokaria (DIN:

09278050) Independent Director of the company. She is an eminent lady of high credentials and of considerable professional experience. As on close of business hours of March 31, 2023, the Board of Nomination and Remuneration Committee comprised of three directors as mentioned below.

SHAREHOLDERS GRIEVANCE COMMITTEE

This committee was headed by Mrs. Kanta Bokaria (09278050), Independent Director of the company. She is an eminent person of high credentials and of considerable professional experience. As on close of business hours of March 31, 2023 the Board of Shareholders Grievance Committee comprised of three directors as mentioned below.

RISK MANAGEMENT COMMITTEE

The chairman of the risk Management Committee of the Company is headed by Mrs. Kanta Bokaria (DIN: 09278050) Independent Director of the company. She is an eminent lady of high credentials and of considerable professional experience. As on close of business hours of March 31, 2023, the Board of Risk Management Committee comprised of four directors as mentioned below.

Pursuant to the provisions of section 129 of the Companies Act, 2013 and the rules framed there under, if any, the statement containing the salient feature of the financial statement of a company's subsidiary or subsidiaries, associate company or companies and joint venture or ventures as forming part of this report. Your Director is please to inform you that as on the close of the 31st March, 2023 your company has no subsidiary/joint venture/associate company.

Your directors are pleased to inform you that the company has adopted a vigil mechanism which comprises whistle blower policy for directors, employees, and vendors of the company. This policy provides a formal mechanism for Directors employees and vendors to approach the chairman of Audit committee to report concerns about unethical, actual or suspected fraud or violation of company code of conduct and thereby ensuring that activities of the company are conducted in a fair and transparent manner. The policy is also available at the company website.

M/s B M Chatrath & Co LLP, Chartered Accountants, (FRN: 301011E/E300025) was appointed as an Statutory Auditors of the Company at the 39^th Annual General meeting of the Company for a term of five years to hold office till the conclusion of 44^th Annual general meeting. The company has received certificate from the Auditors to the effect that the appointment is in accordance with the limit specified under section 139(9) of the Companies Act, 2013.

The Auditors Report for the financial year 2022-2023 does not contain any qualifications, reservations or any adverse remarks.

Your Directors has appointed Mr. Anurag Fatehpuria, a Practicing Company Secretary, as Secretarial Auditor pursuant to the provisions of section 204 of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of Managerial Person) Rules, 2014, to undertake the secretarial audit of the company for the financial year 2022-23. The Secretarial Audit Report in form MR 3 is given as Annexure III forming part of this report.

The Secretarial Auditors' Report for the financial year 2022 23 does not contain any qualification, reservation or adverse remark. Notes to Accounts and Auditors remark in their report are self - explanatory and do not call for further comments.

The Company continues to engage M/s Udai Pathak & Co, Chartered Accountants (Membership No: 420760) as its Internal Auditor for the financial year 2022-2023. During the year, the Company continued to implement their suggestions and recommendations to improve the control environment. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systems and processes, and assessing the internal control strengths in all areas. Internal Auditors findings are discussed with the process owners and suitable corrective actions taken as per the directions of Audit Committee on an ongoing basis to improve efficiency in operations.

The Board of Directors of the company is responsible for ensuring the IFC have been laid down in the company and that such control is adequate and operating effectively. Your directors ensure final IFC framework has been laid down in your company and it is commensurate with the size scale and complex of its operation.

19. EXTRACTS OF ANNUAL RETURN.

In accordance with the companies Act, 2013, the annual Return in the prescribed format is available on the website of the company at www.consecutiveinvestments.com .

Your Director ensures that no material changes occurred subsequent to the close of the financial year of the Company to which the balance sheet relates and the date of the report that affecting the financial position of the company.

There were no significant and material orders passed by the Regulators or Courts or Tribunals during the year impacting the going concern status of the company and its future business and operations.

Your Company has not accepted any Deposits from public within the meaning section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014 during the year under review.

In order to prevent sexual harassment of women at work place a new act "The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013" has been notified with effect from 9th December, 2013. As per section 4 read with section 6 of the act applies to companies having 10 employees or more and such companies shall be required to constitute internal complaint committee.

Your Directors are pleased to inform you that as the number of employees in your company is below the threshold limit, hence, it is not required to constitute such committee.

Your directors are also pleased to inform you that there is no such case has been reported during the year under review.

Your directors are also pleased to inform you that your company has not made any investment through more than two layers of investment companies during the year under review

The Board of Directors of the Company has formed a Risk Management Committee for identification, evaluation and mitigation of External and Internal Material Risk. The Committee shall establish a framework for the Company's risk management process and to ensure its implementation. The Committee shall periodically review the risk management process and practices of the Company and establish procedure to mitigate risks on a continuing basis.

The particulars of every contract or arrangements entered into by the Company with related parties including certain arm's length transactions thereto shall be disclosed in AOC 2. The details are annexed herewith and marked as Annexure V

Your Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. Your Company has also implemented several best corporate governance practices as prevalent globally. The Company Corporate governance ensuring transparency, accountability, integrating in all its relations with all the stakeholders (i.e. Investors, Suppliers, Shareholders, Customers, Government) with a view to increase the value of all of them.

EARNINGS AND OUTGO.

Pursuant to the provisions of section 134 of the Companies Act, 2013 the details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

Your Company treats its "Human Resources" as one of its most important assets. Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.

Pursuant to section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirms that:

a. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; b. They had selected such accounting policies and 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 at the end of the financial year and of the profit and loss of the company for that period; c. They had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; d. They had prepared the annual accounts on a going concern basis;

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

Pursuant to the provisions of the Investor Education Protection Fund (IEPF) and the rules framed there under, your directors ensure that there was no unpaid/unclaimed dividend declared and paid last year, the provisions of Section 125 of the Companies Act, 2013 does not apply.

The Equity Shares of the Company are listed in Bombay stock Exchange Ltd. (BSE) & Calcutta Stock Exchange Limited (CSE) and necessary Listing Fees paid upto date.

Your Board would like to record its appreciation for the co operation and support received from its employees, shareholders and all other stakeholders.

Your Board wishes to place on record its deep appreciation of the Independent Directors and Non-Executive Directors of the Company for their great contribution by way of strategic guidance, sharing of knowledge, experience and wisdom which help your company to take the right decision in achieving its goals.

Dated: 14^th August, 2023

Registered Office: By order of the Board of Directors 23, Ganesh Chandra Avenue, Sd/- Kolkata-700013 Nabin Kumar Samanta

West Bengal (Company secretary & Compliance Officer)

[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]

To

The Members

23, Ganesh Chandra Avenue, 3^rd Floor Kolkata 700013.

1. I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s. Consecutive Investments & Trading Company Limited [CIN: L67120WB1982PLC035452] (hereinafter called the company). Secretarial Audit was conducted based on records made available to me, in a manner that provided me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion/understanding thereon.

2. Based on my verification of the Company's books, papers, minute books, forms and returns filed and other records maintained by the Company and made available to me and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, I, on strength of those records, and information so provided, hereby report that in my opinion and understandings, the Company has, during the audit period covering the financial year ended on March31, 2023, appears to have complied with the statutory provisions listed hereunder and also in my limited review, that the Company has proper and required Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter.

I have examined the books, papers, minutes' book, forms and returns filed and other records maintained by the Company and made available to me, for the financial year ended on March 31, 2023 according to the applicable provisions of:

i. The Companies Act, 2013 (the Act) and the rules made there under ii. The Securities Contracts (Regulation) Act, 1956(‘SCRA') and the rules made there under; iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under; iv. Applicable provisions of Foreign Exchange Management Act, 1999 and the Rules and

Regulations made there under. - Not applicable since the company does not have any overseas transactions during the year. v. The following Regulations and Guidelines prescribed under the Securities and

Exchange Board of India Act, 1992 (‘SEBI ACT'): - a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and

Takeovers) Regulations, 2011; b. The Securities and Exchange Board of India (Prohibition of Insider Trading)

Regulations,2015; c. The Securities and Exchange Board of India (Issue of Capital and Disclosures

Requirements) Regulations, 2009; Not Applicable as the Company did not issue any security during the financial year under review. d. The Securities and Exchange Board of India (Employee Stock Option Scheme and

Employee Stock Purchase Scheme) Guidelines, 1999/ Securities and Exchange Board of India (Share Based Employee Benefits) Regulations 2014; - Not Applicable as the Company does not have Employee Stock Option Scheme for its employees; e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities)

Regulations, 2008; Not applicable as the Company has not issued any debt securities during the financial year under review; f. The Securities and Exchange Board of India (Registrars to an Issue and Share

Transfer gents) Regulations, 1993 regarding the Companies Act and dealing with client to the extent of securities issued. g. The Securities and Exchange Board of India (Delisting of Equity Shares)

Regulations,2009; Not applicable as the Company has not delisted its equity shares from any stock exchange during the financial year under review; and h. The Securities and Exchange Board of India (Buyback of Securities) Regulations,

1998; - Not Applicable as the Company has not done any buyback of its securities during the financial year under review. i. The Securities and Exchange Board of India (Listing Obligation and Disclosure

Requirement) Regulations, 2015 as amended till date. vi. Other Laws specifically applicable to the Company as under:

I have also examined compliance with the applicable clauses of the following: Secretarial Standards issued by The Institute of Company Secretaries of India;

The Listing Regulations/Agreements entered into by the Company with Bombay Stock Exchange Limited and Calcutta Stock Exchange Limited pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards etc. mentioned above.

I further report that:

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. There is no change in the composition of the Board of Directors during the period under review.

Adequate notice is given to all Directors to schedule the Board Meetings. Agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

There were no dissenting views on any decisions of the Board, as recorded in the Minutes of Board meetings.

I further report that based on review of compliance mechanism established by the Company and on the basis of the Compliance Certificate(s) issued by the Company Secretary and taken on record by the Board of Directors at their meeting(s), I am of the opinion that the management has adequate systems and processes commensurate with its size and operations, to monitor and ensure compliance with all applicable laws, rules, regulations and guidelines; and

There are no other specific events/actions in pursuance of the above referred laws, rules, regulations guidelines etc., having a major bearing on the Company's Affairs.

I further report that during the audit period there were no instances of:

j. Public/Right/Preferential issue of shares / debentures/sweat equity; ii. Redemption / buy-back of securities; iii. Foreign technical collaborations.

I further report that my Audit is subjected only to verifying adequacy of systems and procedures that are in place for ensuring proper compliance by the Company and I am not responsible for any lapses in those compliances on the part of the Company.

To

The Members,

23, Ganesh Chandra Avenue, 3rd Floor Kolkata 700013.

Our report of even date it to be read along with this supplementary testimony.

1. Maintenance of secretarial record is the responsibility of the management of the Company. My responsibility is to express an opinion on these secretarial records based on my audit.

2. I have followed the audit practices and process as were appropriate to obtain reasonable assurance about the correctness of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. I believe that the processes and practices, I followed provides a reasonable basis for my opinion.

3. I have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.

4. Where ever required, I have obtained the Management representation about the compliance of laws, rules and regulations and happening of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the management. My examination was limited to the verification of procedures on test basis.

6. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.

7. I further report that, based on the information provided by the Company, its officers, and authorized representatives during the conduct of the audit and also on the review of quarterly compliance report issued by the respective departmental heads/ Company Secretary/Managing Director & CEO, and taken on record by the Board of the Company, in my opinion adequate systems and process and control mechanism exist in the Company to monitor compliance with applicable general laws like Labour Laws & Environment Laws.

8. I further report that the Compliance by the Company of applicable Financial Laws like Direct & Indirect Tax Laws has not been reviewed in this audit since the same has been subject to review by the statutory financial auditor and other designated professionals.

The form pertains to the disclosure of particulars of contracts/arrangements/transactions entered into by the Company with related parties referred to in sub-section (1) of Section 189 of the Companies Act, 2013 including certain arm's length transactions under third proviso thereto. Details of contracts or arrangements or transactions not at arm's length basis.

The contracts or arrangements or transactions entered into during the year ended March 31, 2023 which were not at arm's length basis is NIL.

Details of contracts or arrangement or transactions at arm's length basis.

The details of material contracts or arrangement or transactions at arm's length basis for the year ended March 31, 2023 is NIL