MKP Mobility Limited — AGM Information 2023

Sep 4, 2023

MKP MOBILITY LIMITED

(Formerly known as Chitradurga Spintex Limited) CIN: L50100KA1990PLC011467

Address: P B NO.9, Bangalore Roadchallekere Challekere, Karnataka, 577522 Contact: pcottage68@gmail.com Website: www.chitraspinltd.com

Date: 04[th] September, 2023

To The Manager Department of Corporate Services BSE Ltd. Dalal Street, Fort Mumbai – 400 001

Sub. -: Intimation of 32[nd] Annual General Meeting, Notice of Book Closure and submission of

Notice of AGM

Ref. -: Scrip Code - 521244 (BSE)

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Dear Sir / Madam,

The 32[nd] Annual General Meeting of the Company will be held on Tuesday, 26th September, 2023, at 12:00 p.m. through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”). In compliance with Section 108 of Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended and Regulation 44 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, the Company has arranged e-voting facility for its members to participate in the business to be transacted at the 32[nd] Annual General Meeting.

Further, in terms of Section 91 of the Companies Act, 2013 and rules made thereunder, the Register of Members and Share Transfer Book will remain closed from 19[th] September, 2023 to 26[th] September, 2023 (both days inclusive) for the purpose of Annual General Meeting.

Pursuant to provisions of Rule 20 of the Companies (Management and Administration) Rules, 2014, the cut-off date for determining the eligibility to vote by electronic means or in the general meeting has been fixed as 18[th] September, 2022.

Further, pursuant to provisions of Regulation 30(2) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III of said Regulation, please find attached herewith copy of annual report along with the Notice of 32[nd] Annual General Meeting of the Company.

MKP MOBILITY LIMITED

(Formerly known as Chitradurga Spintex Limited) CIN: L50100KA1990PLC011467

Address: P B NO.9, Bangalore Roadchallekere Challekere, Karnataka, 577522 Contact: pcottage68@gmail.com Website: www.chitraspinltd.com

This is for the information of the Exchange and Members thereof.

Thanking you,

Yours faithfully,

For MKP Mobility Limited

(Formerly known as Chitradurga Spintex Limited)

SAHEB Digitally signed by SAHEB MAHESH MAHESH DUMBWANI Date: 2023.09.04 DUMBWANI 15:48:36 +05'30'

Saheb Mahesh Dumbwani

Company Secretary and Compliance officer

Date: 4[th] September, 2023

==> picture [451 x 153] intentionally omitted <==

L50100KA1990PLC011467

MKP MOBILITY LIMITED (FORMERLY KNOWN AS CHITRADURGA SPINTEX LIMITED) 32[ND] ANNUAL REPORT

2022-2023

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ANNUAL REPORT OF MKP MOBILITY LIMITED (Formally known as Chitradurga Spintex Limited)

CONTENTS

S. No.	Particulars	Page No.
1.	Corporate Details	3
2.	Notice of 32ndAnnual General Meeting	5
3.	Board Report with other annexures	20
4.	Management Discussion and Analysis Report	33
5.	Certificate from the Managing Director and CFO	35
6.	Secretarial Audit Report	37
7.	Independent Auditor's Report on Standalone Financial Statement	45
8.	Standalone Financial Statement	55

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CORPORATE DETAILS

Board of	Directors
Ms. Shivanna Vishwanath	ManagingDirector*
Mr. Rajasekharappa Shivanna	Director**
Mr. Prasannakumar Siddappa	Director**
Ms. Namrata Subhash Malu	Director**
Mr. Samirkumar Sampat	Director **

*** Resignation w.e.f. 28/12/2022 Resignation w.e.f. 19/08/2022

Board of Directors

Board of Directors	Board of Directors
Mahendra Anantram Patodia	Chairman and Additional Director***
Mr. Jitesh Mahendra Patodia	ManagingDirector**
Mr. AnshayJitesh Patodia	Whole-time Director**
Mr. Aanjan Jitesh Patodia	Additional Director***
Mr. SanjayBrijkishore Chaturvedi	Independent Director**
Ms. Trupti Bharat Agarwal	Independent Director**
Ms. Nevil Agarwal	Independent Director**
*Appointed w.e.f. 19/08/2022 Appointed w.e.f. 31/12/2022**

Audit Committee

Ms. Trupti Bharat Agarwal Chairperson Ms. Nevil Agarwal Member Mr. Sanjay Brijkishore Chaturvedi Member

Nomination and Remuneration Committee	Nomination and Remuneration Committee
Ms.Trupti Bharat Agarwal	Chairperson
Ms. Nevil Agarwal	Member
Mr. SanjayBrijkishoreChaturvedi	Member

Stakeholders Committee

Stakeholders Committee	Stakeholders Committee
Ms.Trupti Bharat Agarwal	Chairperson
Ms. Nevil Agarwal	Member
Mr. SanjayBrijkishore Chaturvedi	Member

Chief Financial Officer

Aditi Anant Waikar Email: pcottage68@gmail.com Appointed w.e.f. 28/09/2022

Company Secretary & Compliance Officer Saheb Mahesh Dumbwani Email: cssaheb13@gmail.com Appointed w.e.f. 14/01/2023 Banker To The Company

ICICI Bank Limited Address: No.4, Shri Mahalaxmi Complex, Pavagada Road, Challakere, Chitradurga

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District 577522, Challakere, Karnataka, India Statutory Auditor Shah Khandelwal Jain & Associates Firm Registration No.: 142740W Chartered Accountants Address: Level 3, Riverside Business Bay, Wellesley Road Near RTO, Pune-411001, Maharashtra. Email: ashish.khandelwal@skj.ican.in

Secretarial Auditors	Secretarial Auditors
Ravi Patidar & Associates (Practicing Company Secretaries)	Address: 78, Jaora Compound, Indore 452001 (M.P) Email: csravipatidar02@gmail.com Contact No: 9993208461 Membership No.: 55749 COPNo.:25581

Register & Transfer Agent	Register & Transfer Agent
Canbank Computer Services Limited	Address: R&T Center, #218, JP ROYALE, 1st Floor, Sampige Road, (Near 14th Cross),2nd Main, Malleswaram, Bengaluru.560003 Telephone Nos:8023469661/62 & 23469664/65 Fax Nos: 8023469667 Email: canbankrta@ccsl.co.in

Corporate Office*

Gat No.624, Behind Vijay Hotel, Wadki Nala; Wadki- Haweli District, Maharashtra, Pune412308

*Changed with effect from 12/08/2022

Registered Office P B No.9, Bangalore Roadchallekere Challekere Chitradurga Karnataka- 577522 the Company is under the process to shift its registered office from Karnataka to Maharashtra. Email Address of Company chitraspin@gmail.com Website of the Company www.chitraspinltd.com Stock Exchange Company is listed at The Bombay Stock Exchange Limited

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MKP MOBILITY LIMITED

(Formerly known as Chitradurga Spintex Limited) CIN: L50100KA1990PLC011467

Address: P B NO.9, Bangalore Roadchallekere Challekere, Karnataka, 577522 Contact: pcottage68@gmail.com Website: www.chitraspinltd.com

NOTICE TO THE MEMBERS

NOTICE is hereby given that the 32[nd ] Annual General Meeting of the Members of MKP MOBILITY LIMITED (Formerly known as Chitradurga Spintex Limited) will be held on Tuesday, 26th September, 2023, at 12:00 p.m. through Video Conferencing/Other Audio Video Means ('VC/OAVM') Facility to transact the following business:

ORDINARY BUSINESS

1. To receive, consider and adopt the Audited Balance Sheet as at 31st March 2023, the Profit and Loss Account for the year ended on that date and the Reports of the Directors and Auditors thereon.

2. To appoint a Director in place of Mr. Jitesh Mahendra Patodia (DIN: 09700718), Managing Director, who is liable to retires by rotation and being eligible, offers himself for reappointment.

SPECIAL BUSINESS

3. Regularization of appointment of Mr. Mahendra Anantram Patodia (DIN: 09812226) as Director of the Company.

To Consider and fit thought fit, to pass the following resolution as an Ordinary Resolution:

“ RESOLVED THAT pursuant to the provisions of Section 161, 152, 160 and all other applicable provisions of the Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014 (Including any Statutory modification(s) or re-enactment thereof for the time being in force), Mr. Mahendra Anantram Patodia (DIN: 09812226) who was appointed as an Additional Director of the Company with effect from 31/12/2022 by the Board of Directors and as recommended by the Nomination and Remuneration Committee and who holds office only upto the date of the ensuing Annual General Meeting of the Company and who be and is hereby appointed as an Non- Executive Director, Non Independent Director of the Company, whose period of office will be liable to determination by retirement of directors by Rotation.

“RESOLVED FURTHER THAT the Board of Directors and Company Secretary of the Company be and is hereby authorized to do all acts and to take all such steps as may be necessary, proper or expedient to give effect to the foregoing resolution”.

4. Regularization of appointment of Mr. Aanjan Jitesh Patodia (DIN: 09813961) as Director of the Company.

To Consider and fit thought fit, to pass the following resolution as an Ordinary Resolution:

“ RESOLVED THAT pursuant to the provisions of Section 161, 152, 160 and all other applicable provisions of the Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014 (Including any Statutory modification(s) or re-enactment

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thereof for the time being in force), Mr. Aanjan Jitesh Patodia (DIN: 09813961) who was appointed as an Additional Director of the Company with effect from 31/12/2022 by the Board of Directors and as recommended by the Nomination and Remuneration Committee and who holds office only upto the date of the ensuing Annual General Meeting of the Company and who be and is hereby appointed as a Non- Executive Director, Non Independent Director of the Company, whose period of office will be liable to determination by retirement of directors by Rotation.

“RESOLVED FURTHER THAT the Board of Directors and Company Secretary of the Company be and is hereby authorized to do all acts and to take all such steps as may be necessary, proper or expedient to give effect to the foregoing resolution”..

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/Sd/Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Date: 4[th] September, 2023 Place: Pune

NOTES:

1. Explanatory Statement pursuant to Section 102, and any other applicable provisions of the Act, the Rules made thereunder, Listing Regulations and Secretarial Standards on General Meetings (SS-2), setting out material facts and reasons thereof for the proposed resolutions, forming part of the Notice, is annexed herewith.

2. The Board of Directors of the Company (“The Board”) at its meeting held on 31[st] August, 2023 has appointed Ravi Patidar and Associates, Practicing Company Secretaries (Membership No. 55749) as a scrutinizer for convening the 32nd Annual General Meeting of the Company to be held on Tuesday, 26th September, 2023, at 12:00 p.m. through Video Conferencing/Other Audio Video Means ('VC/OAVM') Facility.

3. In accordance with the MCA Circulars, provisions of the Companies Act, 2013 (“the Act”) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the AGM of the Company is being held through VC / OAVM. The deemed venue for the AGM shall be the Registered Office of the Company. Members are requested not to visit Corporate Office/ Registered Office to attend the AGM.

4. Generally, a member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote on a poll instead of himself / herself and the proxy need not be a member of the Company. Since this AGM is being held through VC / OAVM, the requirement of physical attendance of members has been dispensed with. Accordingly, the facility for appointment of proxies by the members will not be available for the AGM and hence the Proxy Form and Attendance Slip are not annexed hereto. However, the Body Corporates are entitled to appoint their authorised representatives to attend the AGM through VC / OAVM and participate thereat and cast their votes through e‐voting.

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1. Brief Profile under sub‐regulation (3) of Regulation 36 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 and in terms of Secretarial Standard‐2 issued by the Institute of Company Secretaries of India in respect of the Director(s) seeking re‐ appointment at the 32[nd] Annual General Meeting forms part of this notice.

6. Book Closure:

The Register of Members and Share Transfer Books of the Company will remain closed from, Tuesday, 19[th] September, 2023 to Tuesday, 26[th] September, 2023 (both days inclusive).

1. As per Regulation 40 of the Listing Regulations, as amended, securities of listed companies can be transferred only in dematerialized form with effect from April 1, 2019, except in case of request received for transmission or transposition of securities. In view of this and to eliminate all risks associated with physical shares and for ease of portfolio management, members holding shares in physical form are requested to consider converting their holdings to dematerialized form. Members can contact the Company or Company’s Registrar and Transfer Agents ‐ M/s. Canbank Computer Services Limited for assistance in this regard.

2. To support the “Green Initiative”, Members who have not registered their email addresses are requested to register the same with the Company’s Registrar and Share Transfer Agent/their Depository Participants, in respect of shares held in physical/electronic mode, respectively.

3. The Members can join the EGM/AGM in the VC/OAVM mode 15 minutes before and after the scheduled time of the commencement of the Meeting by following the procedure mentioned in the Notice. The facility of participation at the EGM/AGM through VC/OAVM will be made available for 1000 members on first come first served basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee, Auditors etc. who are allowed to attend the EGM/AGM without restriction on account of first come first served basis.

4. The attendance of the Members attending the EGM/AGM through VC/OAVM will be counted for the purpose of reckoning the quorum under Section 103 of the Companies Act, 2013.

5. Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (as amended) and Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 (as amended), and the Circulars issued by the Ministry of Corporate Affairs dated April 08, 2020, April 13, 2020 and May 05, 2020 the Company is providing facility of remote e-Voting to its Members in respect of the business to be transacted at the EGM/AGM. For this purpose, the Company has entered into an agreement with National Securities Depository Limited (NSDL) for facilitating voting through electronic means, as the authorized agency. The facility of casting votes by a member using remote e-Voting system as well as venue voting on the date of the EGM/AGM will be provided by NSDL.

6. In line with the Ministry of Corporate Affairs (MCA) Circular No. 17/2020 dated April 13, 2020, the Notice calling the AGM has been uploaded on the website of the Company at www.chitraspinltd.com. The Notice can also be accessed from the websites of the Stock Exchanges i.e. BSE Limited at www.bseindia.com and the AGM Notice is also available on the website of NSDL (agency for providing the Remote e-Voting facility) i.e. www.evoting.nsdl.com.

7. AGM has been convened through VC/OAVM in compliance with applicable provisions of the Companies Act, 2013 read with MCA Circular No. 14/2020 dated April 08, 2020 and MCA

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Circular No. 17/2020 dated April 13, 2020, MCA Circular No. 20/2020 dated May 05, 2020 and MCA Circular No. 2/2021 dated January 13, 2021and MCA Circular No. 10/2022.

14. Updation of Members’ Details:

The format of the Register of Members prescribed by the Ministry of Corporate Affairs under the Act requires the Company/ Registrar and Share Transfer Agent to record additional details of Members, including their PAN details, email address, bank details for payment of dividend, etc. Members holding shares in physical form are requested to submit the details to the Company or to its Registrar and Share Transfer Agent. Members holding shares in electronic form are requested to submit the details to their respective Depository Participant.

1. All documents referred to in the accompanying Notice and the Explanatory Statement shall be open for inspection by the Members by writing an e‐mail to the pcottage68@gmail.com

2. Members attending the AGM through VC / OAVM shall be counted for the purpose of reckoning the quorum under Section 103 of the Act.

3. Since the AGM will be held through VC / OAVM, the Route Map is not annexed in this Notice.

4. With reference to the BSE application for change of Company's name from “Chitradurga Spintex Limited " to "MKP Mobility LIMITED”, a Certified true copy of the notice sent to the shareholders seeking approval for name change as per Reg.45(3) of SEBI LODR (Second Amendment) Regulations, 2021.- It is mandatory to provide PCA certificate along with the notice to the shareholder’s for seeking approval, Since the Company had no malafide intention for not attaching the Certificate from PCA to the Notice, the company would like to ratify the above by placing the PCA certificate in front of the members seeking approval in this AGM. Thus, the certificate from PCA as per regulation 45(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been attached to the notice herewith as “Annexure to Notice”.

THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING AND JOINING GENERAL MEETING ARE AS UNDER:-

The remote e-voting period begins on Friday 22[nd] September, 2023 at 09:00 A.M. and ends on Monday, 25[th] September, 2023 at 05:00 P.M. The remote e-voting module shall be disabled by NSDL for voting thereafter. The Members, whose names appear in the Register of Members / Beneficial Owners as on the record date (cut-off date) i.e. 18[th] September, 2023, may cast their vote electronically. The voting right of shareholders shall be in proportion to their share in the paid-up equity share capital of the Company as on the cut-off date, being 18[th] September, 2023.

- How do I vote electronically using NSDL e Voting system?

The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned below:

- Step 1: Access to NSDL e Voting system

- A) Login method for e Voting and joining virtual meeting for Individual shareholders holding securities in demat mode

• In terms of SEBI circular dated December 9, 2020 on e Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are - advised to update their mobile number and email Id in their demat accounts in order to access e Voting facility. Login method for Individual shareholders holding securities in demat mode is given below:

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Type of shareholders

Login Method

Individual Shareholders holding securities in demat mode with NSDL.

1. ExistingIDeASuser can visit the e-Services website of NSDL Viz.https://eservices.nsdl.com either on a Personal Computer or on a mobile. On the e-Services home page click on the “Beneficial Owner”icon under“Login”which is available under‘IDeAS’section , this will prompt you to enter your existing User ID and Password. After successful authentication, you will be able to see e-Voting services under Value added services. Click on“Access to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company name ore-Voting service provider i.e. NSDLand you will be re-directed to e-Voting website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. 2. If you are not registered for IDeAS e-Services, option to register is available athttps://eservices.nsdl.com. Select “Register Online for IDeAS Portal”or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp 3. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name ore-Voting service provider i.e. NSDLand you will be redirected to e- Voting website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. 4. Shareholders/Members can also download NSDL Mobile App “NSDL Speede” facility by scanning the QR code mentioned below for seamless voting experience.

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Individual Shareholders holding securities in demat mode with CDSL

1. Users who have opted for CDSL Easi / Easiest facility, can login through their existing user id and password. Option will be made available to reach e-Voting page without any further authentication. The users to login Easi /Easiest are requested to visit CDSL website www.cdslindia.com and click on login icon & New System Myeasi Tab and then user your existing my easi username & password. 2. After successful login the Easi / Easiest user will be able to see the e-Voting option for eligible companies where the evoting is in progress as per the information provided by company. On clicking the evoting option, the user will be able to see e-Voting page of the e-Voting service provider for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. Additionally, there is also links provided to access the system of all e-Voting Service Providers, so that the user can visit the e-Voting service providers’ website directly. 3. If the user is not registered for Easi/Easiest, option to register is available at CDSL websitewww.cdslindia.com and click on login & New System Myeasi Tab and then click on registration option. 4. Alternatively, the user can directly access e-Voting page by providing Demat Account Number and PAN No. from a e- Voting link available onwww.cdslindia.comhome page. The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be able to see the e-Voting option where the evoting is in progress and also able to directly access the system of all e-Voting Service Providers.

Individual Shareholders (holding securities in demat mode) login through their depository participants

You can also login using the login credentials of your demat account through your Depository Participant registered with NSDL/CDSL for e-Voting facility. upon logging in, you will be able to see e- Voting option. Click on e-Voting option, you will be redirected to NSDL/CDSL Depository site after successful authentication, wherein you can see e-Voting feature. Click on company name or e- Voting service provider i.e. NSDL and you will be redirected to e- Voting website of NSDL for casting your vote during the remote e- Voting period or joining virtual meeting & voting during the meeting.

Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at abovementioned website.

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Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. NSDL and CDSL.

Logintype	Helpdesk details
Individual Shareholders holding securities in demat mode with NSDL	Members facing any technical issue in login can contact NSDL helpdesk by sending a request at evoting@nsdl.co.in or call at 022 - 4886 7000 and 022 - 24997000
Individual Shareholders holding securities in demat mode with CDSL	Members facing any technical issue in login can contact CDSL helpdesk by sending a request at helpdesk.evoting@cdslindia.com or contact at toll free no.18002255 33

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B) Login Method for e-Voting and joining virtual meeting for shareholders other than Individual shareholders holding securities in demat mode and shareholders holding securities in physical mode.

How to Log-in to NSDL e-Voting website?

1. Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile.

2. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section.

3. A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as shown on the screen.

4. Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you can proceed to Step 2 i.e. Cast your vote electronically.

5. Your User ID details are given below :

Manner of holding shares i.e. Demat (NSDL or CDSL) or Physical	Your User ID is:
a) For Members who hold shares in demat account with NSDL.	8 Character DP ID followed by 8 Digit Client ID For example if your DP ID is IN300 and Client ID is 12 then your user ID is IN30012**.
b) For Members who hold shares in demat account with CDSL.	16 Digit Beneficiary ID For example if your Beneficiary ID is 12** then your user ID is 12**
c) For Members holding shares in Physical Form.	EVEN Number followed by Folio Number registered with the company For example if folio number is 001 and EVEN is 101456 then user ID is 101456001

1. Password details for shareholders other than Individual shareholders are given below: a) If you are already registered for e-Voting, then you can user your existing password to login and cast your vote.

2. b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the ‘initial password’ which was communicated to you. Once you retrieve your ‘initial password’, you need to enter the ‘initial password’ and the system will force you to change your password.

c) How to retrieve your ‘initial password’?

(i) If your email ID is registered in your demat account or with the company, your ‘initial password’ is communicated to you on your email ID. Trace the email sent to you from NSDL from your mailbox. Open the email and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open the .pdf file

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is your 8 digit client ID for NSDL account, last 8 digits of client ID for CDSL account or folio number for shares held in physical form. The .pdf file contains your ‘User ID’ and your ‘initial password’. (ii) If your email ID is not registered, please follow steps mentioned below in process for those shareholders whose email ids are not registered.

1. If you are unable to retrieve or have not received the “ Initial password” or have forgotten your password: a) Click on “ Forgot User Details/Password ?”(If you are holding shares in your demat account with NSDL or CDSL) option available on www.evoting.nsdl.com.

b) Physical User Reset Password ?” (If you are holding shares in physical mode) option available on www.evoting.nsdl.com.

c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@nsdl.co.in mentioning your demat account number/folio number, your PAN, your name and your registered address etc.

d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-Voting system of NSDL.

1. After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.

2. Now, you will have to click on “Login” button. 9. After you click on the “Login” button, Home page of e-Voting will open. -

Step 2: Cast your vote electronically and join General Meeting on NSDL e Voting system. -

How to cast your vote electronically and join General Meeting on NSDL e Voting system? 1. After successful login at Step 1, you will be able to see all the companies “EVEN” in which you are holding shares and whose voting cycle and General Meeting is in active status.

1. Select “EVEN” of company for which you wish to cast your vote during the remote e-Voting period and casting your vote during the General Meeting. For joining virtual meeting, you need to click on “VC/OAVM” link placed under “Join Meeting”.

2. Now you are ready for e-Voting as the Voting page opens.

3. Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of shares for which you wish to cast your vote and click on “Submit” and also “Confirm” when prompted.

4. Upon confirmation, the message “Vote cast successfully” will be displayed.

5. You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.

7. Once you confirm your vote on the resolution, you will not be allowed to modify your vote.

General Guidelines for shareholders

1. Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to send scanned copy (PDF/JPG Format) of the relevant Board Resolution/ Authority letter etc. with attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to csravipatidar02@gmail.com with a copy marked to evoting@nsdl.co.in. Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) can also upload their Board Resolution / Power of Attorney / Authority Letter etc. by clicking on "Upload Board Resolution / Authority Letter" displayed under "e-Voting" tab in their login.

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1. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the correct password. In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical User Reset Password?” option available on www.evoting.nsdl.com to reset the password.

2. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual for Shareholders available at the download section of www.evoting.nsdl.com or call on.: 022 - 4886 7000 and 022 - 2499 7000 or send a request to Falguni Chakraborty at evoting@nsdl.co.in

Process for those shareholders whose email ids are not registered with the depositories for procuring user id and password and registration of e mail ids for e-voting for the resolutions set out in this notice :

1. In case shares are held in physical mode please provide Folio No., Name of shareholder, scanned copy of the share certificate (front and back), PAN (self attested scanned copy of PAN card), AADHAR (self attested scanned copy of Aadhar Card) by email to pcottage68@gmail.com.

2. In case shares are held in demat mode, please provide DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary ID), Name, client master or copy of Consolidated Account statement, PAN (self attested scanned copy of PAN card), AADHAR (self attested scanned copy of Aadhar Card) to pcottage68@gmail.com. If you are an Individual shareholders holding securities in demat mode, you are requested to refer to the login -

method explained at step 1 (A ) i.e. Login method for e Voting and joining virtual meeting for Individual shareholders holding securities in demat mode .

1. Alternatively shareholder/members may send a request to evoting@nsdl.co.in for procuring user id and password for e-voting by providing above mentioned documents.

2. In terms of SEBI circular dated December 9, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are required to update their mobile number and email ID correctly in their demat account in order to access e-Voting facility.

THE INSTRUCTIONS FOR MEMBERS FOR e-VOTING ON THE DAY OF THE EGM/AGM ARE AS UNDER:-

1. The procedure for e-Voting on the day of the EGM/AGM is same as the instructions mentioned above for remote e-voting.

2. Only those Members/ shareholders, who will be present in the EGM/AGM through VC/OAVM facility and have not casted their vote on the Resolutions through remote e- Voting and are otherwise not barred from doing so, shall be eligible to vote through e-Voting system in the EGM/AGM.

3. Members who have voted through Remote e-Voting will be eligible to attend the EGM/AGM. However, they will not be eligible to vote at the EGM/AGM.

4. The details of the person who may be contacted for any grievances connected with the facility for e-Voting on the day of the EGM/AGM shall be the same person mentioned for Remote e- voting.

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INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE EGM/AGM THROUGH VC/OAVM ARE AS UNDER:

1. Member will be provided with a facility to attend the EGM/AGM through VC/OAVM through the NSDL e-Voting system. Members may access by following the steps mentioned above for Access to NSDL e-Voting system . After successful login, you can see link of “VC/OAVM” placed under “Join meeting” menu against company name. You are requested to click on VC/OAVM link placed under Join Meeting menu. The link for VC/OAVM will be available in Shareholder/Member login where the EVEN of Company will be displayed. Please note that the members who do not have the User ID and Password for e-Voting or have forgotten the User ID and Password may retrieve the same by following the remote e-Voting instructions mentioned in the notice to avoid last minute rush.

2. Members are encouraged to join the Meeting through Laptops for better experience.

3. Further Members will be required to allow Camera and use Internet with a good speed to avoid any disturbance during the meeting.

4. Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop connecting via Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their respective network. It is therefore recommended to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.

5. Share holders who would like to express their views/have questions may send their questions in advance mentioning their name demat account number/folio number, email id, mobile number at pcottage68@gmail.com. The same will be replied by the company suitably.

6. The shareholders who wish to register themselves as speaker should register before 18[th] September, 2023. The sharcholders who have registered themselves as a speaker will only be allowed to express their views/ask questions during the meeting.

EXPLANATORY STATEMENT (Pursuant to section 102 of the Companies Act, 2013)

ITEM NO. 3:

Regularization of appointment of Mr. Mahendra Anantram Patodia (DIN: 09812226) as Director of the Company.

Mr. Mahendra Anantram Patodia (DIN: 09812226) was first inducted to the Board at the Board Meeting held on 31[st] December, 2022 and in the same meeting he was appointed as the Additional Director. In terms of Section 161(1) of the Companies Act, 2013 Mr. Mahendra Anantram Patodia can hold office only up to the date of the ensuing Annual General Meeting. The candidature of Mr. Mahendra Anantram Patodia for the office of the Director, be and is hereby appointed as an NonExecutive and Non Independent Director of the Company, whose period of office will be liable to determination by retirement of directors by Rotation. The terms and conditions of the appointment are set out in a draft Appointment letter to be issued to Mr. Mahendra Anantram Patodia by the Company.

The Board is of the opinion that the appointment and presence of Mr. Mahendra Anantram Patodia on the Board will be desirable, beneficial and in the best interest of the Company. The Board recommends the resolution set out in item no. 3 of the accompanying Notice for approval and adoption of the Members.

ITEM NO. 4:

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Regularization of appointment of Mr. Aanjan Jitesh Patodia (DIN: 09813961) as Director of the Company.

Mr. Aanjan Jitesh Patodia was first inducted to the Board at the Board Meeting held on 31[st] December, 2022 and in the same meeting he was appointed as the Additional Director. In terms of Section 161(1) of the Companies Act, 2013 Mr. Aanjan Jitesh Patodia can hold office only up to the date of the ensuing Annual General Meeting. The candidature of Mr. Aanjan Jitesh Patodia for the office of the Director, be and is hereby appointed as a Non-executive and Non Independent Director of the Company, whose period of office will be liable to determination by retirement of directors by Rotation. The terms and conditions of the appointment are set out in a draft Appointment letter to be issued to Mr. Aanjan Jitesh Patodia by the Company.

The Board is of the opinion that the appointment and presence of Mr. Aanjan Jitesh Patodia on the Board will be desirable, beneficial and in the best interest of the Company. The Board recommends the resolution set out in item no. 4 of the accompanying Notice for approval and adoption of the Members.

Additional Information on Directors recommended for appointment/re-appointment as required under Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Name of Director	Jitesh Mahendra Patodia	Mahendra Anantram Patodia	Aanjan Jitesh Patodia
Actual Date of Appointment	19/08/2022	31/12/2022	31/12/2022
DIN	09700718	09812226	09813961
Brief Profile		He has over 50 years of experience in the Automotive parts trade. He is also a philanthropist and has authored many self-help books that is distributed at no cost.	He has completed his studies in B.Tech and aims to grow the company operations by diversifying into other sectors.
Disclosure of relationships between Directors	Father of Mr. Anshay Jitesh Patodia and Mr. Aanjan Jitesh Patodia and Son of Mr. Mahendra Anantram Patodia	Father of Jitesh Mahendrakumar Patodia and grandfather of Mr. Anshay Jitesh Patodia and Mr. Aanjan Jitesh Patodia	Son of Mr. Jitesh Mahendrakumar Patodia and grandson of Mr. Mahendra Anantram Patodia and Brother of Mr. Anshay Jitesh Patodia
Person not debared from holding office as Director pursuant to SEBI Order	not debared from holding office as Director pursuant to SEBI Order or any other Authority	not debared from holding office as Director pursuant to SEBI Order or any other Authority	not debared from holding office as Director pursuant to SEBI Order or any other Authority
Name of Listed entities in which the directorships are held	NIL	NIL	NIL
Membership/Chairmanship **of Committees of other **	NIL	NIL	NIL

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companies No. of equity shares held in 1743658 ---43217 the Company Name of Listed Entities NIL NIL NIL from which resigned in the past three (3) years

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/-

Sd/-

Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Date: 4[th] September, 2023 Place: Pune

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==> picture [451 x 698] intentionally omitted <==

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==> picture [452 x 418] intentionally omitted <==

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BOARD REPORT

To, The Members,

MKP MOBILITY LIMITED

(Formerly Known as Chitradurga Spintex Limited)

Your Directors are pleased to present their 32[nd] Annual Report on the state of affairs of the Company together with the Audited Statement (Standalone) of Accounts and the Auditors’ Report of MKP Mobility Limited [“the Company’] for the year ended March 31[st] , 2023.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The Company Financial Performance (Standalone) for the financial year ended on 31st March, 2023 under review is given hereunder:

(Amount in Lakhs )

PARTICULARS	Standalone Financial Statements	Standalone Financial Statements
	2022-2023	2021-2022
Net Sales /Income from Business Operations	12.21	-
Other Income	1.07	-
Total Income	13.28	-
Less: Total Expenses	39.17	7.75
Profit/(Loss) before Exceptional Item and tax	(25.89)	(7.75)
Less: Exceptional Item	-	-
Profit/(Loss) before tax	(25.89)	(7.75)
Less: Current Income Tax	-	-
Less: Deferred Tax	-	-
Net Profit/(Loss) after Tax	(25.89)	(7.75)
Other comprehensive income	-	2.33
Total comprehensive loss for theperiod	(25.89)	(5.42)
Earning per share (Basic)	(0.82)	(1.18)
Earning per Share (Diluted)	(0.82)	(1.18)

2. REVIEW OF OPERATIONS

During the year under review, the Standalone total Income was Rs. 13.28 lakhs against no income for the corresponding previous years the Company was going through takeover and restructuring was on the way.

Total Comprehensive loss for the period was Rs. 25.89 lakhs as against the loss of Rs. 5.42 lakhs in the corresponding previous year

The Company is deploying its resources in the best possible way to increase business volumes and plans to achieve increased business.

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3. DIVIDENDS

In order to conserve resources for future growth and expansion, the Directors do not recommend any dividend on equity shares for the Financial Year ended on 31st March, 2023. Also, dividend distribution policy is not applicable on the company

4. TRANSFER TO RESERVES

As the company has incurred loss during the year, the entire amount of loss was transferred to the Reserves and Surplus account.

5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no dividend declared and paid last year.

6. CHANGE IN THE NATURE OF THE BUSINESS

No change in the nature of business activities during the year.

However, Company has adopted new Main object clause pursuant to change in Management with the aim to explore new markets and business opportunities.

Also, the Company has changed its name from Chitradurga Spintex Limited to MKP Mobility Limited. The ROC filing for which is completed but the same is yet to be submitted to the BSE.

Further, The Company is to shift its registered office from the state of Karnataka to the state of Maharashtra. The approval from the shareholders for the same has been received through postal ballot on 10[th] November, 2022

Furthermore, the Corporate office of the Company was also shifted to Pune by passing the Board resolution at the meeting held on 12[th] August, 2022

7. MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis as required in terms of the Listing Regulations is annexed to the report as Annexure I and is incorporated herein by reference and forms an integral part of this report.

8. BUSINESS OUTLOOK

The Directors are under the process of exploring other avenues of diversifying into new areas of business. With new management company is going into major transformation in current and coming financial years and will explore new markets and business opportunities as per the Main objects of the Company.

9. SHARE CAPITAL

During the year under review, the Company has increased its share capital the details are as given below:

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The Authorised Equity Share Capital of the Company has increased from INR. 5,00,00,000/(Indian Rupees Five Crore Only) to INR. 10,00,00,000/- (Indian Rupees Ten Crore Only) divided into 1,00,00,000 equity shares of Rs. 10 each. The paid up share capital of the company was also raised from INR 46,10,300/- (Indian Rupees Forty-Six Lakhs Ten Thousand and Three Hundred Only) to INR 3,41,10,300/- (Indian Rupees Three Crore Forty-One Lakhs Ten Thousand and Three Hundred Only) by means of issue of equity shares on preferential basis.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

a) Changes in Directors:

• Based on the recommendation of the Nomination and Remuneration Committee and Pursuant to completion of open offer and takeover of the Company and change in promoters and management in the Company, the Board of Directors at its meeting, have approved appointment of below Directors with effect from 19[th] August, 2023, who were further regularised in AGM held on 30[th] September.

S. No.	Name of Director	DIN	Designation
1.	Mr. Jitesh Mahendra Patodia	09700718	ManagingDirector
2.	Mr. AnshayJitesh Patodia	09700717	Whole-time Director
3.	Mr. Sanjay Brijkishore Chaturvedi	03339354	Independent Director
4.	Ms. Trupti Bharat Agarwal	00259612	Independent Director
5.	Ms. Nevil Agarwal	01638275	Independent Director

• Further, the Board of Directors at its meeting held on 31[st] December, 2023 have approved appointment of below Directors as Additional Directors with effect from 31[st] December, 2022 and who will be regularised at the ensuing Annual General Meeting.

S. No.	Name of Director	DIN	Designation
1.	Mr. Mahendra Anantram Patodia	09812226	Chairman and Additional Director
2.	Mr. Aanjan Jitesh Patodia	09813961	Additional Director

• Pursuant to completion of open offer and takeover of the Company and change in promoters and management in the Company, the Board of Directors at its meeting, have approved the resignation of below Directors:

S. No.	Name of Director	DIN	Date of Cessation	Designation
1.	Ms. Shivanna Vishwanath	00900773	28/12/2022	Managing Director
2.	Mr. Rajasekharappa Shivanna	00900916	19/08/2022	Director
3.	Mr. Prasannakumar	02752176	19/08/2022	Director

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	Siddappa
4.	Ms. Namrata Subhash Malu	03583659	19/08/2022	Director
5.	Mr. Samirkumar Sampat	08116619	19/08/2022	Director

b) Key Managerial Personnel:

Pursuant to Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company are:

S.No.	Name of KMP	Designation
1	Mr. Jitesh Mahendra Patodia	ManagingDirector
2	Aditi Anant Waikar	Chief Financial Officer
3	Saheb Mahesh Dumbwani	CompanySecretaryand Compliance officer

c) Declaration by Independent Director(s):

The company has received the necessary declaration from each Independent Directors in accordance with Section 149 (7) of the Companies Apt 2013, that they meets the criteria of independence as laid out in sub-section (6) of Section 149 of the Companies Act 2013 and Regulation 16(1) (b) of the SEBI Listing Regulations.

All Independent Directors of the Company have affirmed compliance with the Schedule IV of the Act and Company's Code of Conduct for Directors and Senior Management.

All the Independent Directors of the Company have complied with the requirement of inclusion of their names in the data bank of Independent Directors maintained by Indian Institute of Corporate Affairs and they meet the requirements of proficiency self-assessment test.

d) Formal Annual Evaluation:

Pursuant to the provisions of the Companies Act, 2013 and the Listing Agreement/ SEBI (LODR) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, the directorsindividually as well as the evaluation of the working of its Committees. The Directors expressed satisfactionwith the evaluation process.

11. MEETINGS OF THE BOARD

During the year, 12 (Twelve) Board Meetings were convened and held, the details of which are given below. The intervening gap between the two consecutive meetings was within the period prescribed under the Companies Act, 2013, Secretarial Standards and the SEBI (LODR) Regulations, 2015.

The Meetings that were held in the Financial year 2022-2023:

S.No.	Meeting	Date
1.	Board Meeting	06/04/2022

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2.	Board Meeting	17/05/2022
3.	Board Meeting	30/05/2022
4.	Board Meeting	12/08/2022
5.	Board Meeting	19/08/2022
6.	Board Meeting	26/08/2022
7.	Board Meeting	05/09/2022
8.	Board Meeting	28/09/2022
9.	Board Meeting	14/11/2022
10.	Board Meeting	31/12/2022
11.	Board Meeting	14/01/2023
12.	Board Meeting	13/02/2023

12. MEETINGS OF THE INDEPENDENT DIRECTORS

During the Financial Year 2022‐2023, 3 (three) Meetings of Independent Directors were held on 06/04/2022, 31/05/2022 and 13/02/2023 without the attendance of Non-Independent Directors and members of the Management. On 06/04/2022 and 31/05/2022 to discuss and review the open offer of MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited). On 13/02/2023 to review the performance of Non-Independent Directors and the Board as a whole and assessed the quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform its duties.

13. MEETINGS OF THE COMMITTEES

There are currently three committees of the Board, as following:

a. Audit Committee

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors with respect of auditing and accounting matters. It also supervises the Company’s financial reporting process.

During the Financial Year 2022‐2023, 4 (four) Meetings were held on 17/05/2023, 12/08/2022, 14/11/2022, 13/02/2023. The time gap between any two meetings was not more than 4 months and the Company has complied with all the requirements as mentioned under the Listing Agreement/SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.

The composition of the Committee is as under:

S.No.	Name	Category	Designation
**1. **	Mr. Prasannakumar Siddappa	Independent Director	Chairperson
**2. **	Ms. Namrata Subhash Malu	Independent Director	Member
**3. **	Mr. Rajasekharappa Shivanna	Executive Director	Member

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Reconstitution of Audit Committee from 19/08/2022:

S.No.	Name	Category	Designation
1.	Ms. Trupti Bharat Agarwal	Independent Director	Chairperson
2.	Ms. Nevil Agarwal	Independent Director	Member
3.	Mr. SanjayBrijkishore Chaturvedi	Independent Director	Member

b. Nomination and Remuneration Committee

The Committee’s constitution and terms of reference are in compliance with provisions of section 178 of the Companies Act, 2013, Regulation 19 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

During the Financial Year 2022‐2023, 3 (three) Meetings were held on 19/08/2022, 28/09/2022 and 31/12/2022

The composition of the Committee constituted as under:

S.No.	Name	Category	Designation
1.	Mr. Prasannakumar Siddappa	Independent Director	Chairperson
2.	Ms. Namrata Subhash Malu	Independent Director	Member
3.	Mr. Rajasekharappa Shivanna	Executive Director	Member

Reconstitution of Nomination and Remuneration Committee from 19/08/2022:

S.No.	Name	Category	Designation
1.	Ms. Trupti Bharat Agarwal	Independent Director	Chairperson
2.	Ms. Nevil Agarwal	Independent Director	Member
3.	Mr. SanjayBrijkishore Chaturvedi	Independent Director	Member

c. Stakeholders Relationship Committee

The terms of reference are in line with Section 178 of the Companies Act, 2013 and Regulation 20 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Committee reviews Shareholder’s/ Investor’ s complaints like non‐receipt of Annual Report, physical transfer/ transmission/transposition, split/ consolidation of share certificates, issue of duplicate share certificates etc. This Committee is also empowered to consider and resolve the grievance of other stakeholders of the Company including security holders.

During the Financial Year 2022‐2023, 1 (One) Meeting was held on 13/02/2023

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The composition of the Committee constituted as under:

S.No.	Name	Category	Designation
1.	Mr. Prasannakumar Siddappa	Independent Director	Chairperson
2.	Ms. Namrata Subhash Malu	Independent Director	Member
3.	Mr. Rajasekharappa Shivanna	Executive Director	Member

Reconstitution of Stakeholders Relationship Committee from 19/08/2022:

S.No.	Name	Category	Designation
1.	Ms. Trupti Bharat Agarwal	Independent Director	Chairperson
2.	Ms. Nevil Agarwal	Independent Director	Member
3.	Mr. SanjayBrijkishore Chaturvedi	Independent Director	Member

14. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration.

15. PARTICULARS OF EMPLOYEES

The provisions of Section 197 read with rule 5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 requiring particulars of the employees to be disclosed in the Report of Board of Directors are not applicable to the Company as none of the employees was in receipt of remuneration in excess of Rs.1.20 Crore per year during the financial year 2022-23. Details regarding rule 5(1) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 are disclosed in the Annexure III attached herewith this report.

16. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) & 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby confirms that:

• (a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

• (b) 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 a true and fair view of the stateof affairs of the company at the end of the financial year and of the profit and loss of the company forthat period;

• (c) The directors have 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;

26

• (d) The directors have prepared the annual accounts on a going concern basis; and

• (e) The directors have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

• (f) The directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

17. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The company has no subsidiaries, joint ventures or associate companies. During the Financial Year, no company ceased as Subsidiary, joint venture or associate of the company.

18. STATUTORY AUDITORS:

M N T & Associated, Chartered Accountants (FRN W100115), the statutory auditors of the Company resigned from the office of the Company. In accordance with the provisions of Section 139 of the Companies Act 2013, and the rules made thereunder, the Board on the recommendation of the Audit Committee, had appointed Shah Khandelwal Jain & Associates, Chartered Accountants (FRN 142740W), as the statutory auditors of the Company, for a term of five consecutive years, i.e., from the conclusion of the 31[st] Annual General Meeting of the Company till the conclusion of the 36[th] Annual General Meeting to be held in the year 2027 with the approval of shareholders .

As required under the provisions of Section 139(1) and 141 of the Companies Act, 2013 read with the Companies (Accounts and Auditors) Rules, 2014, the Company has received a written consent and certificate from the auditors to the effect that they are eligible to continue as Statutory Auditor of the Company.

19. AUDITORS’ REPORT

Explanation on Statutory Auditors comments:

The comments made in Auditors Report read with notes on accounts are self-explanatory and therefore, in the opinion of the Directors, do not call for any further explanation.

20. SECRETARIAL AUDIT

In terms of Section 204 of the Act and Rules made there under, M/s. Ravi Patidar and Associates, Practicing Company Secretaries have been appointed Secretarial Auditors of the Company. The Secretarial Audit Report forms part of Annual report as Annexure II.

21. INTERNAL FINANCIAL CONTROLS AND ADEQUACY

The Company has in place adequate internal financial controls with reference to the financial statement. The Internal Audit of the Company is regularly carried out to review the internal control systems and processes. The Audit Committee of the Board periodically reviews the

27

internal control systems with the management,Internal Auditors and Statutory Auditors. Significant internal audit findings are discussed and follow‐ups aretaken thereon.

Further, Grow Dynamics Consulting LLP having there registered office at 302, Kamal Kirti, above SBI, Opposite Pu La Deshpande Garden, Sinhagad road, Pune 411030 was appointed as an Internal Auditor of the Company with effect from the Financial Year 2023‐24.

22. SHARES

Buy Back of Securities:

The Company has not bought back securities during the year under review.

Sweat Equity:

The Company has not issued any Sweat Equity Shares during the year under review .

Bonus Shares:

The Company has not issued any Bonus Shares were not issued during the year under review.

Employee Stock Option Plan:

The Company has not provided any Stock Option Scheme to the Employees.

23. VIGIL MECHANISM

The company has formulated a Whistle Blower Policy to provide Vigil Mechanism for employees of the company to report genuine concerns. The provisions of this policy are in line with the provisions of the Section 177 (9) of the Act and the Listing Regulations.

24. RISK MANAGEMENT POLICY

The Company's principal financial liabilities include trade and other payables. The Company's principal financial assets include cash and cash equivalents and others. The Company is exposed to liquidity risk and market risk. The Company’s senior management oversees the management of these risks. The Company's senior management provides assurance that the Company’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company's policies and risk objectives. Risk management policy of the company has been placed on the Company website at www.chitraspinltd.com. Presently, Regulation 21 of the SEBI LODR with respect to Risk Management Committee is not applicable to your Company.

25. CORPORATE GOVERNANCE

As stipulated vide regulation 15(2) of the SEBI (LODR) Regulations, 2015, the requirement of furnishing report on corporate governance is not applicable to your Company as it’s paid up capital and net-worth is below the threshold limit prescribed for the purpose.

26. DEPOSITS

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on public deposits was outstanding as on the date of the Balance Sheet.

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27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

Full particulars of loans and guarantees given and investments made under Section 186 of the Companies Act, 2013 are given separately in the Financial Statements of the Company read with Notes to Accounts which may be read in conjunction with this Report.

28. RELATED PARTY TRANSACTIONS

All Related Party transactions that were entered into during the financial year under reference were on the arm’s length basis and were in ordinary course of business and in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There are no materially significant related party transactions between the Company and the Promoters, Directors, Key Managerial Personnel, Subsidiaries, relatives or other designated persons, which may have a potential conflict with the interest of the Company at large. Accordingly, particulars of contracts or arrangements with related parties referred to in Section 188(1) along with the justification for entering into such contract or arrangement in form AOC‐2 in terms of Section 134 of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company. Please refer Note 21 of Notes to accounts for related party transactions as per IND AS-24 and Schedule V of the SEBI (LODR) 2015 as amended from time to time.

All Related Party Transactions were placed before the Audit Committee and have been approved by the Board. Omnibus approval of Audit Committee is obtained for the transactions that are foreseen and repetitive in nature.

Your Company has formulated a policy on related party transactions, which is also available on Company’s website www.chitraspinltd.com

29. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY

ABSORPTION AND FOREIGN EXCHANGE

a. Conservation of Energy, Technology Absorption

Company has limited scope for undertaking energy conservation exercises, but nevertheless continues to emphasize work practices that result in conservation of energy. At the offices of your Company, special emphasis is placed on installation of energy-efficient lighting devices, use of natural light as best as possible, and adoption of effective procedures for conservation of electricity, water, paper and other materials that consume natural resources.

b. Technology absorption

The activities of the Company do not as such involve any technology absorption or expenditure on research and development. Nonetheless, the Company's endeavours would be to achieve what is best possible in its business.

c. Foreign Exchange Earning and Outflow

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During the year under review, there was no earning or outgoing in foreign exchange.

30. COST AUDIT

As per the Cost Audit Orders and in terms of the provisions of Section 148 and all other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, Cost Audit is not applicable to our Company.

31. CORPORATE SOCIAL RESPONSIBILITIES (CSR)

Pursuant to Section 135 of the Companies Act, 2013, every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility (CSR) Committee of the Board. Your Company does not fall under the provisions of aforesaid Section; therefore, CSR Committee has not been constituted.

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

Your Company has always believed in providing a safe and harassment free workplace for every individual working in Company’s premises through various interventions and practices. The Company always endeavours to create and provide an environment that is free from discrimination and harassment including sexual harassment.

During the year, pursuant to the legislation 'Prevention, Prohibition and Redressal of Sexual Harassment of Women at Workplace Act, 2013' introduced by the Government of India, which came into effect from 9 December 2013, the Company has framed a Policy on Prevention of Sexual Harassment at Workplace. There was no case reported during the year under review under the said Policy.

33. SECRETARIAL STANDARDS

The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating effectively.

34. DETAILS OF APPLICATION MADE OR PROCEDDING PENDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

During the year under review, there were no applications made or proceedings pending in the name of the company under the Insolvency and Bankruptcy Code, 2016.

35. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

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

30

36. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

Preferential Issue of Shares: The Company increased its authorised share capital from INR. 5,00,00,000/- to INR. 10,00,00,000/- and subsequently raised its paid up share capital from INR. 46,10,300/- to INR. 3,41,10,300/- by means of issue of equity shares on preferential basis and which was in compliance with the applicable laws

Further, No material changes and commitments, affecting the financial position of the Company occurred between the end of the Financial Year of the Company i.e., 31st March, 2023 and the date of this Directors’ Report i.e., 14[th] August, 2023 except as mentioned in this Report.

37. DETAILS IN RESPECT OF FRAUD REPORTED BY THE AUDITOR

No fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

38. WEBSITE

As per Regulation 46 of SEBI (Listing, Obligation and Disclosure Requirements) Regulation, 2015, the Company has maintained a functional website namely “www.chitraspinltd.com” containing basic information about the Company like: Details of business, financial information, shareholding pattern, compliance, contact information of the designatedofficials of the Company who are responsible for assisting and handling investor grievancesfor the benefit of all stakeholders of the Company. The contents of the said website areupdated on regular basis.

39. ACKNOWLEDGEMENT

The Board of Directors would like to acknowledge all its stakeholders and is grateful for the support received from suppliers and business associates.

Your directors take this opportunity to place on record their appreciation and sincere gratitude to the Government of India, Government of Maharashtra and the Bankers to the Company for their valuable support and look forward to their continued co-operation in the years to come.

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/Sd/Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Date: 31[st] August, 2023 Place: Pune

31

		ANNEXURE INDEX
Annexure Content		Annexure Content
I		Management Discussion and Analysis
II		MR-3 Secretarial Audit Report
III		Detailspertainingto Remuneration

32

ANNEXURE I

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report of your company for the financial year ended on 31st March, 2023 is as under:

INDUSTRY STRUCTURE AND DEVELOPMENT

Your Company is engaged in the manufacturing and trading activities and management expects that there is huge scope of development and growth inspite of competitive market conditions. The unprecedented outbreak of COVID-19 impacted the global economy and human life, making it a very challenging environment for all the businesses. The changes forced on people and businesses by the pandemic are likely to last for some time and established ways of doing business may undergo changes leading to new ways of working. Your Company was able to successfully manage immediate challenges of re-establishing normalcy in business operations and Company's assessments, strategies and prospects outlined in this report are to be read in the context of the evolving situation.

FINANCIAL PERFORMANCE & REVIEW

During the year under review, the Standalone total Income was Rs.13.28 lakhs against Rs.248.60 no Income for the corresponding previous year.

SEGMENT WISE PERFORMANCE

As the Company is into single reportable segment therefore, segment wise performance is not applicable.

RISK MANAGEMENT

The growth of your Company's portfolio is linked to the overall economic growth. Primary risk to the business will be on account of adverse changes to the economy. Further, the changes in consumer behaviour, buying patterns and working environment arising due to COVID-19 pandemic may pose some challenges for the businesses. To manage risk of an COVID-19 outbreak within the company’s premises impacting employee safety & wellbeing constant communication on building employee awareness, limited working from campus, proper sanitization, appropriate social distancing are already in place.

BUSINESS OUTLOOK

The Directors are under the process of exploring other avenues of diversifying into new areas of business.

INTERNAL CONTROLS

The Company has robust internal control-systems in place which are commensurate with the size and nature of the business. The internal control are aligned with statutory requirements and designed to

33

safeguard the assets of the Company. The internal control systems are complemented by various Management Information System (MIS) reports covering all areas. Increased attention is given to auto generation of MIS reports as against manual reports to take care of possible human errors or alteration of data. The Management reviews and strengthens the controls periodically.

SUBSIDIARIES

Your Company has no subsidiary Companies.

CAUTIONARY STATEMENT

The statements in the "Management Discussion and Analysis Report" section describes the Company's objectives, projections, estimates, expectations and predictions, which may be "forward looking statements" within· the meaning of the applicable laws and regulations. The annual results can differ materially from those expressed or implied, depending upon the economic and climatic conditions, Government policies and other incidental factors.

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/Sd/Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Date: 31[st] August, 2023 Place: Pune

34

CERTIFICATION FROM THE MANAGING DIRECTOR AND CFO

We hereby certify that:

• a. We have reviewed the financial statements and cash flow statement for the year ended 31st March 2023 and to the best of our knowledge and belief:

• i. These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;

• ii. These statements together present a true and fair view of the Company’s affairs and are incompliance with existing Accounting Standards, applicable laws and regulations.

• b. They are, to the best of our knowledge and belief; no transactions entered into by the Company during the year ended 31st March, 2023 are fraudulent, illegal or violate any of the Company’s code of conduct.

• c. We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting. Deficiencies in the design or operation of such internal controls, if any, of which we are aware, have been disclosed to the auditors and the Audit Committee and steps have been taken to rectify these deficiencies.

• d. We have indicated the Auditors and the Audit Committee that there are no:

• i. Significant changes in internal control over financial reporting during the year under reference;

• ii. Significant changes in accounting policies during the year requiring disclosure in the notes to the financial statements; and

• iii. Instances during the year of significant fraud with involvement therein, if any, of the management or any employee having a significant role in the Company’s internal control system over financial reporting.

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/Sd/-

Jitesh Mahendra Patodia Aditi Anant Waikar

Managing Director Chief Financial Officer DIN: 09700718 Date: 31[st] August, 2023 Place: Pune

35

DECLARATION BY THE MANAGING DIRECTOR ON ‘CODE OF CONDUCT’

I hereby confirm that:

The Company has obtained from all the members of the Board and senior management, affirmation that they have complied with the Code of Conduct as applicable to them.

For MKP Mobility Limited

(Formerly known as Chitradurga Spintex Limited)

Sd/-

Jitesh Mahendra Patodia

Managing Director DIN: 09700718 Date: 31[st] August, 2023

36

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,

The Members,

MKP MOBILITY LIMITED

(formerly Known as Chitradurga Spintex Limited)

(CIN: L50100KA1990PLC011467)

Regd. Office : P B NO.9, Bangalore

Road Challekere, Chitradurga Karnataka, 577522 India

I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by MKP Mobility Limited (hereinafter called “the Company”). The Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.

Based on my verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period covering the financial year ended March 31, 2023 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

1. I have examined the books, papers, minute books, forms and returns filed and other records maintained by MKP Mobility Limited (“the Company”) for the financial year ended March 31, 2023 according to the provisions of:

2. i. The Companies Act, 2013 (the Act) and the rules made thereunder;

ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;

iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder; iv. Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment; (Overseas Direct Investment

37

and External Commercial Borrowings Not applicable to the Company during the Audit Period)

• 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, 1992;

• c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;

• d) The Securities and Exchange Board of India(Depositories and Participants) Regulations, 2018;

• e) The Securities and Exchange Board of India (Share Based Employee Benefit) Regulation, 2014 and the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021; (Not Applicable to the Company during the period under review) .

• f) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulation, 2008 and Securities and Exchange Board of India (Issue and Listing of Non–Convertible Redeemable Preference Shares) Regulations, 2013 and the Securities and Exchange Board of India (Issue and Listing of Non- Convertible Securities ) Regulation, 2021; ( Not Applicable to the Company during the period under review).

• g) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; Not Applicable as the Company is not registered as a Registrar to an issue and Share Transfer Agent during the financial year under review).

• h) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 and the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 (Not Applicable as the Company has not delisted its equity shares from any stock Exchanges during the Financial year under review ).

• i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018. (Not applicable as the Company has not bought back its securities during the financial year under review).

We have also examined compliance with the applicable clauses of the following:

• I. Secretarial Standards issued by The Institute of Company Secretaries of India under the provisions of Companies Act, 2013;

• II. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;

As per information provided by the management, there is no law applicable specifically to the Company vis-à-vis the industry to which the Company belongs.

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During the period under review and as per the explanations and the clarifications given to me and the representation made by the Management of the Company, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above to the extend applicable and subject to the following observation.

1. Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 –Advertisement in News Paper Pursuant Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the Company shall issue a public notice in at least in one English daily newspaper circulating in the whole or substantially the whole of India and in one daily newspaper published in the language of the region, where the registered office of the company is situated for following matters:

2. a) Board meeting wherein quarterly unaudited/audited results are to be considered where prior 5 clear day’s intimation needs to be published.

3. b) Financial results within 48 hours of the conclusion of Board or committee meeting at which they were approved.

4. c) Notices given to shareholders by advertisement.

However, during the period under review, the Company has complied with the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

1. Section 108 of the Companies Act 2013 read with Rule 20 of the Companies (Management and Administration), Rules, 2014 – Voting Through Electronic means.

Pursuant to Rule 20 (4) (v) of the Companies (Management and Administration), Rules, 2014 the Company shall cause a public notice by way of an advertisement to be published, immediately on completion of dispatch of notices for the meeting not later than 21 days prior to the date of General Meeting at least once in English newspaper having country wide circulation and once in vernacular language newspaper in principle vernacular language of the District in which company is situated, having wide circulation in the District.

However, during the period under review, the Company has not complied with the requirements of Section 108 of the Companies Act 2013 read with Rule 20 of the Companies (Management and Administration), Rules, 2014.

I further report that Securities and Exchange Board of India (SEBI) and Exchanges in order to enhance market integrity and safeguard interest of investors, have introduced Graded Surveillance Measures (GSM) wherein certain identified securities shall be subjected to enhanced monitoring and surveillance actions. The Company is kept under Graded Surveillance Measures (GSM) by BSE Limited.

39

I further report that ; as informed to me, there is no such instance/transactions where the approval required to be taken from the Central Government, Tribunal, Regional Director, Registrar, Court or such other authorities under the various provisions of the Act, however, as per my observations those offences compoundable under the Act shall be compounded.

I further report that , as informed to me, during the audit period changes were taken place in the composition of Board of Directors and management of the company and Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), the same was informed to the SEBI and other compliances related to filing of forms with ROC were duly filed.

However, the information with respect to change in composition of the Board of Directors of the company and change in Management is not updated on the website of the BSE till date.

However, during the year under review Form DIR-12 with respect to appointment Saheb Mahesh Dumbwani Company Secretary and Compliance Officer the company has not been filed till date by the Company with the Registrar of Companies.

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. Adequate notice for the Board/ Committee Meetings was given to all directors to schedule the Board/Committee 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.

I further report that; as represented by the Company and relied upon by me there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

I further report that during the audit period, there were no instances of following events/actions which had major bearing on the Company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards etc:-

1. Redemption/Buy Back of Securities;

2. Merger/Amalgamation etc.

3. Foreign technical Collaborations

I further report that during the audit period, the following instances took place:-

40

• (i) Preferential Issue of Shares: The Company increased its authorised share capital from INR. 5,00,00,000/to INR. 10,00,00,000/- and subsequently raised its paid up share capital from INR. 46,10,300/- to INR. 3,41,10,300/- by means of issue of equity shares on preferential basis and which was in compliance with the applicable laws

• (ii) Name of the company:

• The name of the Company has changed from Chitradurga Spintex Limited to MKP Mobility Limited w.e.f. December 21, 2022 by the Registrar of Companies and application for name change is yet pending with Bombay Stock Exchange.

• (iii) Shifting of registered office:

• The registered office of the Company is under the process of shifting from Karnataka to Maharashtra. The Company is currently using its Corporate office situated in Pune, Maharashtra.

I further report that the compliance by the Company of applicable financial laws, like direct and indirect tax laws, Accounting Standards etc. has not been reviewed in this Audit, since the same is subject to review by designated professional/s during the course of statutory financial audit.

I further state that my report of even date is to be read along with “Annexure – A” appended hereto.

For RAVI PATIDAR & ASSOCIATES Practicing Company Secretary

Sd/-

RAVI PATIDAR (Proprietor) M. NO.: A55749 COP NO: 25581 Peer Review Certificate No. 3493/2023 UDIN: A055749E000901748

Place: Indore Date: 31-08-2023

This report is to be read with me letter of even date which is annexed as_ _ANNEXURE A* and forms an integral part of this report.

41

ANNEXURE- A

To,

The Members,

MKP MOBILITY LIMITED

(formerly Known as Chitradurga Spintex Limited)

(CIN: L50100KA1990PLC011467)

Regd. Office : P B NO.9, Bangalore

Road Challekere, Chitradurga

Karnataka, 577522, India

My Secretarial Audit Report for Financial Year ended on 31 March 2023 of even date is to be read along with this letter.

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 processes 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 process and practices, I followed provide 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. Wherever required, I have obtained the Management representation about the compliance of laws, rules and regulations and happening of event etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of 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.

For RAVI PATIDAR & ASSOCIATES Practicing Company Secretary

Sd/RAVI PATIDAR (Proprietor) M. NO.: A55749 COP NO: 25581 Peer Review Certificate No. 3493/2023 UDIN: A055749E000901748 Place: Indore Date: 31-08-2023

42

ANNEXURE-III

As per listing regulation the Company is required to frame Remuneration Policy for Key Managerial Personnel and Other employees. The Nomination and Remuneration Committee are responsible for Identifying suitable person eligible to become director and recommend to the Board their appointment and removal. Through its compensation programme, the Company endeavors to attract, retain, develop and motivate a high performance workforce.

The Independent Directors are entitled to receive remuneration by way of sitting fees, reimbursement of expenses for participation in the Board/Committee meetings and commission as detailed hereunder:

1. Sitting fees for each meeting of the Board or Committee of the Board attended by him or her, of such sum as may be approved by the Board within the overall limits prescribed under the Companies Act, 2013.

2. Commission on a quarterly basis, of such sum as may be approved by the Board and Members on the recommendation of the Board Governance, Nomination and Compensation Committee. The aggregate commission payable to all the Independent Directors and non‐ executive directors put together shall not exceed 1% of the net profits of the Company during any financial year. The commission is payable on pro‐rata basis to those Directors who occupy office for part of the year.

Information required under Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016

1. The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary as on 31[st] March 2023 during financial year 2022-23, ratio of the remuneration of each director to the median remuneration of the employees of the Company for financial year 2022-23

S.No.	Name of Director/KMP and Designation	Remuneration* of Directors / KMPs For Financial Year 2022-2023 (in Rs.) p.m.**	Ratio of Remuneration of Each Director/To Median of Remuneration of Employees
**1. **	Mr. Jitesh Mahendra Patodia**	NIL	00
**2. **	Mr. AnshayJitesh Patodia**	NIL	00
**3. **	Mr. Sanjay Brijkishore Chaturvedi**	NIL	00
**4. **	Ms.Trupti Bharat Agarwal**	NIL	00
**5. **	Ms. Nevil Agarwal**	NIL	00
**6. **	Mr. Mahendra Anantram Patodia***	NIL	00
**7. **	Mr.AanjanJitesh Patodia***	NIL	00
**8. **	Ms. Aditi Anant Waikar****	NIL	NA
**9. **	Mr. Saheb Mahesh Dumbwani*	20000	NA

* Appointed w.e.f. 19/08/2022 *** Appointed w.e.f. 31/12/2022 Appointed w.e.f. 28/09/2022*

• * Appointed w.e.f. 14/01/2023**

*For above purpose, reimbursement of out of pocket expenses, if any incurred in attending the meetings of the Board and Committees and meetings of Independent Directors have not been considered as remuneration. The other executive directors has given waiver for their fees for the year.

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In respect of Independent Directors, only the remuneration paid by way of sitting fees is considered. For FY2022-2023, Rs. 35,000 sitting fees was paid to each Independent Directors which is Rs.5000 per Board meeting held after change in management.

1. The Percentage increase in the median remuneration of employees in the financial year 20222023: The percentage increase in the median remuneration of the employees in the financial year 2022-2023 is NIL. The percentage increase in median remuneration of employees is calculated by including all the employees of the Company who were paid remuneration during financial year 2022-2023.

2. The Number of permanent Employees on the rolls of the Company is 02 as on 31[st] March, 2023.

3. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile Increase in the managerial remuneration and justification thereof and exceptional Circumstances for increase in the managerial remuneration, if any: The average percentage Increase made in the salaries of total eligible employees other than the Key Managerial Personnel for FY 2022-2023 is Nil percent,

4. Affirmation that the remuneration is as per the remuneration policy of the Company: Yes

5. The statement of names of employees pursuant to rule 5(2) of companies (appointment and remuneration of managerial personnel) rules, 2014 is as under:

S.N o.	Name of the Employee and (Age)	Designation and nature of employment	Remunera tion received (Rs.) p.m.	Qualificati on(s), (Experienc e)	Date of Commen cement of employm ent	Details of Previous employment
1.	Aditi Anant Waikar	Chief Financial Officer	-	bachelor of commerce and has a working experience of 11 years	28/09/202 2	--
2.	Saheb Mahesh Dumbwani	Company Secretary & Compliance Officer	20000	company secretary	14/01/202 3	--

For MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Sd/Sd/Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Date: 31[st] August, 2023 Place: Pune

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INDEPENDENT AUDITOR’S REPORT

To the Members of MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited)

Report on the IND AS Financial Statements

Opinion

We have audited the accompanying IND AS financial statements of MKP Mobility Limited (formerly known as Chitradurga Spintex Limited) (“the Company”), which comprise the Balance Sheet as at March 31, 2023, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes in Equity for the year then ended, and a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the IND AS financial statements give the information required by the Companies Act 2013,as amended(“The Act”) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2023, its profit including other comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We have conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (‘the Act’). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements .

Key Audit Matters

Key Audit matters are those matters that, in our professional judgement, were of most significance in our audit of Financial Statements of current period. As per our judgement, there are no Key Audit Matters that need to be reported under SA 701.

Information other than the Financial Statements and Auditors’ Report thereon

The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the Standalone Financial Statements and our Auditors’ Report thereon. Our opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information and, in doing so, consider whether such other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a

45

material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these IND AS financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and changes in equity of the Company in accordance with accounting principles generally accepted in India, including the Indian Accounting Standards (IND AS ) specified under section 133 of the Act., read with Rule 7 of the Companies (Accounts) Rules, 2014 and the Companies (Indian Accounting Standards) Rules, 2015, as amended. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial control that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the IND AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these IND AS financial statements based on our audit.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We conducted our audit of the IND AS financial statements in accordance with the Standards on Auditing, issued by the Institute of Chartered Accountants of India, as specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the IND AS financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company’s preparation of the IND AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the IND AS financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the IND AS financial statements.

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Other Matter

The comparative financial information of the Company for the year ended March 31, 2023 in these IND AS financial statements, have been audited by previous auditor M N T & Associates LLP for the relevant periods. The report furnished by the predecessor auditor who had expressed an unqualified opinion.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

2. (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

3. (b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books ;

4. (c) The Balance Sheet, Statement of Profit and Loss including the Statement of Other Comprehensive Income, the Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in agreement with the books of account;

5. (d) In our opinion, the aforesaid IND AS financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, Companies (Indian Accounting Standards) Rules, 2015, as amended;

6. (e) In our opinion, there are no matters that may have an adverse effect on the functioning of the Company.

7. (f) On the basis of the written representations received from the directors as on 31[st] March, 2023 taken on record by the Board of Directors, none of the directors is disqualified as on 31[st ] March, 2023 from being appointed as a director in terms of Section 164 (2) of the Act.

8. (g) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in ‘Annexure A’.

9. (h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2018, in our opinion and to the best of our information and according to the explanations given to us:

10. i. The Company does not have any pending litigations which would impact its financial position.

11. ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

12. iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

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iv. a) The management has represented that to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other persons or entities, including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise , the intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

b) The management has represented that, to the best of its knowledge and belief , no funds (which are material either individually or in the aggregate) have been received by the company from any person or entities including foreign entity (“Funding Parties”), with the understanding, whether recorded in writing or otherwise , that the company shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the ultimate beneficiaries;

c) Based on such audit procedures that were considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (a) and (b) contain any material misstatement.

• v. The Company has not declared or paid any dividend during the year, therefore the provisions of the section 123 of the Act is not applicable.

• As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government in terms of sub-section 11 of section 143 of the Act, we give in the ‘Annexure B’, a statement on the matters specified in paragraphs 3 and 4 of the Order.

For Shah Khandelwal Jain & Associates Chartered Accountants

Firm Registration No.142740W

Ashish Khandelwal

Partner Membership No.049278 UDIN: 23049278BGVMZM3222 Date: 31/08/2023 Place: Pune

48

Annexure A referred to in paragraph 2 (f) under the heading “Report on other Legal and Regulatory requirements” of our report of even date

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) (“the Company”) as of March 31, 2023 in conjunction with our audit of the Ind AS financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the Ind AS financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly

49

reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

According to the information and explanations given to us and based on our audit, the Company, in all material respects, maintained adequate internal financial controls over financial reporting as of March 31, 2023, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India, the Company’s internal financial controls over financial reporting were operating effectively as of March 31, 2023.

For Shah Khandelwal Jain & Associates Chartered Accountants Firm Registration No: 142740W

Ashish Khandelwal Partner Membership No.- 049278 UDIN: 23049278BGVMZM3222 Date: 31/08/2023 Place: Pune

50

ANNEXURE B TO INDEPENDENT AUDITORS’ REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2023 OF MKP MOBILITY LIMITED (formerly known as CHITRADURGA SPINTEX LIMITED) (“the Company”)

[Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory Requirements’ in the Independent Auditors’ Report]

Companies (Auditor’s Report) Order, 2020 issued by the Central Government in terms of subsection 11 of section 143 of Companies Act, 2013 (“the Act”)

• i. According to the information and explanations given to us and on the basis of our examination of the records of the company, the Company does not hold any tangible or intangible assets for the year under consideration. Hence, reporting under clause (a) to (e) is not applicable.

• ii. (a) The inventory has been physically verified at reasonable interval by the management to the extent possible. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its business.

• (b) The Company has not sanctioned any working Capital limit, from banks on the basis of security of current assets and hence reporting under this clause is not required.

• iii. (a) According to the records of the Company, during the year the company has granted an advance in the nature of loan to other entity. Details of which has been provided in following table:

	Guarantees	Security	Loans	Advances in nature of loans
Aggregate amount granted/provided during the year. - Subsidiaries - Joint Ventures - Associates - Others				100 lakh
Balances outstanding as at balance sheet date in respect of above cases - Subsidiaries - Joint Ventures - Associates - Others				100 lakh

51

• (b) According to the information and explanations given to us and based on the audit procedures performed by us, we are of the opinion that the investments made, guarantees provided, security given and the terms and conditions of the grant of all loans and advances in the nature of loans and guarantees provided are not prejudicial to the company’s interest.

• (c) According to the information and explanations given to us and based on the audit procedures performed by us, Repayment of principal and payment of interest has been stipulated and the repayment of the same is in accordance with the schedule in respect of the advances in the nature of loan given by company during the year.

• (d) In our opinion and according to the information and explanations given to us, no amount is overdue for more than ninety days. Therefore, the requirements of Para 3(iii)(d) of the Order are not applicable to the Company.

• (e) In our opinion and according to information and explanation given to us, no amount of loans and advances which had fallen due during the year, has been renewed or extended or fresh loan granted to settle existing loans given to the same parties.

• (f) In our opinion and according to the information and explanations given to us, the company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment.

• iv. According to the information and explanations given to us and on the basis of our examination of the records of the company, the company has not given any loans or provided any guarantee or security as specified under section 185 of the Companies Act, 2013.

The company has given loan during the year which is within the limit specified under section 186 of the Companies Act, 2013.

• v. In our opinion and according to the information and explanations given to us, there are no amounts outstanding which are in the nature of deposits as per the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules made thereunder as on 31[st] March, 2023 and the Company has not accepted any deposits during the year.

• vi. In our opinion and according the information and explanation given to us, the requirement of subsection 1 of section 148 of The Companies Act is not applicable to the company.

• vii. (a) According to the records of the Company, the Company is generally regular in depositing with appropriate authorities, undisputed statutory dues including Provident fund, Employees’ State Insurance, Income Tax, Service Tax, Duty of Customs, Duty of Excise, Goods and Services Tax and other applicable statutory dues.

• (b) According to the records of the Company, the Company has no disputed statutory dues including Income Tax, and Service Tax, Goods and Services Tax and other statutory dues.

• viii. According to the records of the Company, the Company has not recorded any transactions in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

• ix. According to the information and explanations given to us and on the basis of our examination of the records of the company, the company has not raised any loans or borrowings from bank or financial institution, hence reporting under this clause is not applicable to the company.

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• x. (a) The Company did not raise any money by way of initial public offer or further public offer (including debt instruments). Accordingly, para x(a) of the Order is not applicable to the Company.

• (b) The Company has made preferential allotment during the year in compliance with section 42 of the act and Rule 14 of the Companies (Prospectus and Allotment of Securities) rules, 2014.

In our opinion and according to the information and explanations given to us, the company has utilized funds raised by way of preferential allotment for the purposes for which they were raised, except for the following:

Nature of Securities	Purpose for which funds were raised	Total Amount Raised/ opening unutilized balance	Amount utilized for the other purpose	Unutilized balance as at balance sheet date	Remark, any
Equity Shares	Working Capital Requirement	Rs.442.50 lakh	Rs.100 lakh	Rs.336.08 lakh

• xi. (a) During the course of our examination of the books and records of the company and according to the information and explanations given to us, we have neither come across any instance of material fraud by the Company or on the Company by its officers or employees during the course of our audit.

(b) No report under sub section (12) of section 143 of the Companies Act, 2013 has been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) We have not received any whistle blower complaints during the year by the Company.

• xii. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company. Accordingly, paragraph 3(xii) of the Order is not applicable.

• xiii. According to the information and explanations given to us, transactions with the related parties are in compliance with provisions of section 177 and section 188 of the Companies Act, 2013 where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable Indian Accounting Standards.

• xiv.(a) According to the information and explanations given by the management, the Company has an internal audit system corresponding with the size and nature of its business.

(b) We have considered the reports of the Internal Auditors to the extent required by us.

• xv. According to the information and explanations given to us and based on our examination of the records of the company, the company has not entered into non-cash transactions with directors or persons connected with them. Accordingly, paragraph 3(xv) of the Order is not applicable.

• xvi. In our opinion, the company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi)(a) to (d) of the Order are not applicable to the Company.

xvii. According to the records of the Company, the Company has incurred cash losses of Rs.25.90 lakh in the financial year and cash losses of Rs.5.42 lakh in the immediately preceding financial year.

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• xviii. There has been resignation of the Statutory Auditor during the year and accordingly, we have taken into consideration the issues, objections or concerns raised by the outgoing auditor.

• xix. On the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans, we are of the opinion that no material uncertainty exists as on the date of the audit report and that the company is capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.

• xx. According to the information and explanations given to us and based on our examination of the records of the Company, the provisions of section 135 are not applicable to the company. Accordingly the requirements of para 3(xx)(a) and (b) are not applicable.

For Shah Khandelwal Jain & Associates

Chartered Accountants

Firm Registration No.:142740W

Ashish Khandelwal

Partner Membership No.: 049278 UDIN: 23049278BGVMZM3222 Date: 31/08/2023 Place: Pune

54

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467

Balance Sheet as at March 31, 2023

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Balance Sheet as at March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Balance Sheet as at March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Balance Sheet as at March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Balance Sheet as at March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Balance Sheet as at March 31, 2023
	(Rs. In Lacs/amount)
Sr No	Particulars	Not e No.	As at 31st March 2023	As at 31st March 2022
(I) (II)	ASSETS Non-Current Assets (a) Property,Plant and Equipment (b) Investment Property (c) Deferred Tax Assets (d) Goodwill (e) Non Current Financial Assets (i) Investments (iii) Other Non Current Financial Assets Current Assets (a) Inventories (b) Current Financial Assets (i) Trade Receivables (ii) Cash and Cash Equivalents (iii) Other Current Financial Asset (c) Other Current Assets	3 4 5 6 7 8 9	- - - - - 1.00 19.20 15.19 424.65 100.50 4.96	- - - - 0.11 - - 2.60 96.14 1.53 0.92
	Total Assets		565.50	101.30
	EQUITY AND LIABILITIES Equity (a) Equity Share Capital (b) Other Equity Liabilities Non-Current Liabilities	10 11	341.10 175.26	46.10 53.66

55

	(a) Financial Liabilities Current Liabilities (a) Financial Liabilities (i) Trade Payables (A) Total outstanding dues of Micro enterprises and Small Enterprises (B) Total outstanding dues of creditors other than micro enterprises and small enterprises. ii) Other Current Financial Liabilities (b) Other Current Liabilities	12 13 14	- 39.71 0.17 9.01 0.25	- 0.35 0.50 0.60 0.08
	Total Equity and Liabilities		565.50	101.30
	The accompanying notes are an integral part of the financial statements As per our report of even date For Shah Khandelwal Jain & Associates For and on behalf of the Board of Directors of Chartered Accountants For MKP Mobility Limited Firm No.: 142740W CIN: L50100KA1990PLC011467 Sd/-Sd/- Sd/- Ashish Khandelwal Jitesh Mahendra Patodia Anshay Jitesh Patodia Partner Managing Director Director Membership No.: 049278 DIN: 09700718 DIN: 09700717 Place : Pune Place : Pune Place : Pune Date:29/05/2023 Date:29/05/2023 Date:29/05/2023

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467

Statement of Profit and Loss for the year ended March 31, 2023

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Statement of Profit and Loss for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Statement of Profit and Loss for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Statement of Profit and Loss for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Statement of Profit and Loss for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Statement of Profit and Loss for the year ended March 31, 2023
				(Rs. In Lacs/amount)
Sr No	Particulars	No te No .	For the year ended 31st March 2023	For the year ended 31st March 2022
I II III IV V VI VII VIII IX	Revenue from Operations Other Income Total Income (I+II) EXPENSES Cost of Materials Consumed Purchases of stock-in-trade Changes in inventories of finished goods,work- in-progress and stock-in-trade Employee Benefits Expense Finance Costs Depreciation and amotisation expense Other Expenses Total Expenses (IV) Profit/(Loss) before exceptional items (III-IV) Exceptional items Profit/(Loss) before tax (V-VI) Tax Expense (1) Current Tax (2) Defered Tax Profit/(Loss) for the period from continuing operations (VII-VIII)	15 16 17 18 19	12.21 1.06	- -
			13.27	-
			- 30.50 (19.20) 2.40 25.48	- - - - 7.75
			39.17	7.75
			(25.90) -	(7.75) -
			(25.90)	(7.75)
			- -	- -
			(25.90)	(7.75)

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X XI XII XIII XIV	Profit/(Loss) for the period from dicontinued operations Profit/(Loss) for the period (IX + X) Other Comprehensive Income(after tax) A. Items that will not be Reclassified to Profit or Loss B. Items that will be Reclassified Subsequently to Profit or Loss Total Other Comprehensive Income Total Comprehensive Income for the period (XI + XII) (Comprising Profit (Loss) and Other comprehensive Income for the period) Earning per equity share (for discontinued & continuing operation) Basic Diluted	20 20	-	-
			(25.90)	(7.75)
			- -	2.33 -
			-	2.33
			(25.90)	(5.42)
			(0.82) (0.82)	(1.18) (1.18)
The accompanying notes are an integral part of the financial statements As per our report of even date For Shah Khandelwal Jain & Associates Chartered Accountants Firm No.: 142740W Sd/- Ashish Khandelwal Partner Membership No.: 049278 Place : Pune Date: 29/05/2023			For and on behalf of the Board of Directors of For MKP Mobility Limited CIN: L50100KA1990PLC011467 Sd/- Sd/- Jitesh Mahendra Patodia Anshay Jitesh Patodia Managing Director Director DIN: 09700718 DIN: 09700717 Place : Pune Place : Pune Date:29/05/2023

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467

Cash Flow Statement for the year ended March 31, 2023

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Cash Flow Statement for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Cash Flow Statement for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Cash Flow Statement for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Cash Flow Statement for the year ended March 31, 2023	MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited.) Regd. Office: P B No.9, Bangalore Road, Challekere , Chitradurga - 577522, Karnataka CIN: L50100KA1990PLC011467 Cash Flow Statement for the year ended March 31, 2023
			(Rs. In Lacs/amount)
Sr. No.		Particulars	For the year ended 31st March 2023	For the year ended 31st March 2022
A. B. C.		CASH FLOW FROM OPERATING ACTIVITIES Net Profit/(Loss) before extraordinary items and tax Adjustments for: Balances written off Interest Income Prior period items Operating profit/(loss) before working capital changes Changes in working capital: Current and Non Current Loans and advances Other Current Assets Non Current Financial Assets Inventories Trade Receivables Short Term Provisions Trade payables Other Liabilities Net Cash Flow from / (used in) Operating Activities (A) CASH FLOW FROM INVESTING ACTIVITIES Balance with Revenue Authorities Interest Income Net Cash Flow from / (used in) Investing Activities (B) CASH FLOW FROM FINANCING ACTIVITIES Cash proceeds from issuing shares	(25.90) 0.11 (1.06) -	(5.42) - (2.32) -
			(26.86)	(7.74)
			(98.97) (4.03) (1.00) (19.20) (12.59) - 47.43 0.17	0.43 - - - - 0.31 (0.15) (0.00)
			(115.05)	(7.15)
			- 1.06	(0.03) 2.32
			1.06	2.29
			442.50	-

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Net Cash Flow from / (used in) Financing Activities ( C ) 442.50 - NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) 328.51 (4.86) Add: Cash and cash equivalents at the beginning of the period 96.14 101.00 Cash and cash equivalents at the end of the period 424.65 96.14

Notes to the financials statements are an integral part of the Cash Flow Statement.

As per our report of even date For Shah Khandelwal Jain & Associates Chartered Accountants Firm No.: 142740W

For and on behalf of the Board of Directors of For MKP Mobility Limited CIN: L50100KA1990PLC011467

Sd/- Sd/- Sd/- Jitesh Mahendra Anshay Jitesh Ashish Khandelwal Patodia Patodia Partner Managing Director Director Membership No.: 049278 DIN: 09700718 DIN: 09700717 Place : Pune Place : Pune Place : Pune Date:29/05/2023 Date:29/05/2023

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

1. Corporate information

The company was incorporated on 10.12.1990 under the provision of the Companies Act 1956, with the name of the company as CHITRADURGA SPINTEX LIMITED, to carry on the business of Spinning (Textile). In financial year 2022-2023 the name was changed to MKP MOBILITY LIMITED with effect from 21.12.2022. Also the object of the company was modified from Spinning (Textile) to carrying on business of Spinning (Textile), distribution and export of automotive parts, industrial products, mechanical and electronic components, auto care products, lubricants, tyres, batteries, refurbished parts, to generate, acquire by purchase, accumulate electrical power and transmit, distribute and supply such power by setting up power plants, to carry on the business of taking up and executing infrastructural projects.

The registered office of the Company is situated at P.B NO. 9, Bangalore Road, Challekere, Chitradurga, Karnataka 577522 India.

2. Basis of preparation and Summary of significant accounting policies

This note provides a list of the significant accounting policies adopted in the preparation of these financial statements. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements are for the Company consisting of MKP Mobility Limited (the ‘Company’).

In accordance with the notification issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (referred to as “Ind AS”) notified under the Companies (Indian Accounting Standards) Rules, 2015.

2.1 Basis of preparation and presentation of financial statements

(i) Statement of Compliance

The standalone financial statements have been prepared in accordance with the accounting principles generally accepted in India including Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the Act) read with Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and presentation and disclosures requirement of Division II of revised Schedule III of the Companies Act 2013, as applicable to standalone financial statement.

The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied consistently to all the periods presented in the financial statements.

(ii) Historical cost convention

The financial statements have been prepared on a historical cost basis, except for the following:

• Certain financial assets and liabilities (including derivative instruments) - measured at fair value;

• Assets held for sale – measured at fair value less cost to sell

(iii) Current versus Non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non-current classification.

An asset is current when it is:

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

• Expected to be realised or intended to be sold or consumed in the normal operating cycle;

• Held primarily for the purpose of trading;

• Expected to be realised within twelve months after the reporting period; or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

A liability is current when:

• It is expected to be settled in the normal operating cycle;

• It is held primarily for the purpose of trading;

• It is due to be settled within twelve months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

Operating cycle of the Company is the time between the acquisition of assets for processing and their realization in cash or cash equivalents. Based on the nature of products and the time between the acquisitions of assets for processing and their realization in cash and cash equivalents, the company has ascertained operating cycle of 12 months for the purpose of current and non-current classification of assets and liabilities.

(iv) Segment reporting:

The Company primarily operates in the Distribution of Automobile spare parts and lubricants. The board of directors of the Company, which has been identified as being the chief operating decision maker (CODM), evaluates the Company’s performance, allocates resources based on the analysis of the various performance indicators of the Company as a single unit. Therefore, there is no reportable segment for the Company as per the requirement of IND AS 108 “Operating Segments”.

(v) Cash flow statement

The Cash Flow Statement is prepared by the indirect method set out in Ind AS 7 on Cash Flow Statements and presents cash flows by operating, investing and financing activities of the Company.

2.2 Property, plant and equipment Initial recognition

All items of property, plant and equipment (including capital work-in-progress) are measured at its cost.

The cost of an item of property, plant and equipment comprises:

(a) Its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates.

(b) Any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

(c) The initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located, the obligation for which an entity incurs either when the item is acquired or as a consequence of having used the item during a particular period for purposes other than to produce inventories during that period.

Measurement after recognition

The Company has elected revaluation model for measurement of land whose fair value can be measured reliably at each reporting period.

(a) Revaluation model for certain class of property, plant and equipment

Land is recognised at fair value based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings.

Increases in the carrying amounts arising on revaluation of land are recognised, net of tax, in other comprehensive income and accumulated in reserves in shareholders’ equity. To the extent that the increase reverses a decrease previously recognised in profit or loss, the increase is first recognised in profit or loss. Decreases that reverse previous increases of the same asset are first recognised in other comprehensive income to the extent of the remaining surplus attributable to the asset; all other decreases are charged to profit or loss. Each year, the difference between depreciation based on the revalued carrying amount of the asset charged to profit or loss and depreciation based on the asset’s original cost, net of tax, is reclassified from the revaluation reserve to retained earnings.

(b) Cost model for other class of assets

All other items of property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost may also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

Depreciation methods, estimated useful lives and residual value.

Depreciation is calculated using the WDV method to allocate the cost of the assets, net of their residual values, over their estimated useful lives as follows:

Type of asset	Useful life w.e.f. April,2022(inyears)
Building	60

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Computer	3/6
Office equipment	5
Furniture and fittings	10
Vehicles	8/10
Plant and Machinery	15

2.3 Intangible assets (including intangible assets under development)

Software:

Intangible assets are recognized at cost. Intangible assets are amortised on a straight line basis over the estimated useful economic life so as to reflect the pattern in which the assets economic benefits are consumed.

Following summarizes the nature of intangible and the estimated useful life:

Asset	Useful life(inyears)
Software	3

An intangible asset is derecognized on disposal or when no future economic benefits are expected from use or disposal. Gains or losses arising from de-recognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, and are recognized in the profit or loss when the asset is derecognized.

2.4 Trade receivables

Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The Company holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortised cost.

2.5 Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

2.6 Other financial assets

(i) Classification

The Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and

• those to be measured at amortised cost.

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in equity instruments that are not held for trading, this will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at FVOCI.

(ii) Recognition

Regular way purchases and sales of financial assets are recognised on trade-date, being the date on which the Company commits to purchase or sell the financial asset.

(iii) Measurement

At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

Debt instruments

Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Company classifies its debt instruments:

• Amortised cost : Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in Other Income using the effective interest rate method. Any gain or loss arising on de-recognition is recognised directly in profit or loss and presented in other gains/ (losses). Impairment losses are presented as separate line item in the statement of profit and loss.

• Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit and loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in other gains/ (losses). Interest income from these financial assets is included in other income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/ (losses) and impairment expenses are presented as separate line item in statement of profit and loss.

• Fair value through profit or loss: Assets that do not meet the criteria for amortised cost or FVOCI are measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss is recognised in profit or loss and presented net within other gains/ (losses) in the period in which it arises. Interest income from these financial assets is included in other income.

Equity instruments

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

The Company subsequently measures all equity investments at fair value. Where the Company’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the de-recognition of the investment. Dividends from such investments are recognised in profit or loss as other income when the Company’s right to receive payments is established.

Changes in the fair value of financial assets at fair value through profit or loss are recognised in other gain/ (losses) in the statement of profit and loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

Impairment of financial assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost and FVOCI debt instruments. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

De-recognition of financial assets

A financial asset is derecognised only when:

• the Company has transferred the rights to receive cash flows from the financial asset or

• retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more recipients.

Where the entity has transferred an asset, the Company evaluates whether it has transferred substantially all risks and rewards of ownership of the financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of ownership of the financial asset, the financial asset is not derecognised.

Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the financial asset is derecognised if the Company has not retained control of the financial asset. Where the Company retains control of the financial asset, the asset is continued to be recognised to the extent of continuing involvement in the financial asset.

2.7 Income tax

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in India where the company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment.

The Company measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty.

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the separate financial statements. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

2.8 Inventories

Cost of inventories for traded goods is computed on weighted-average basis. Inventories are stated at lower of cost or net realisable value. The cost of stock-in-trade includes direct expenses.

Net realisable value is the estimated selling price in the ordinary course of business less any applicable selling expenses.

2.9 Trade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year which are unpaid. The amounts are unsecured and are usually paid within the agreed credit days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

2.10 Revenue recognition policy

The Company accounts for a contract when it has approval and commitment from parties involved, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable.

Revenue from the sale of goods is recognized at the point in time when control is transferred to the customer - based on delivery terms, payment terms, customer acceptance and other indicators of control as mentioned above.

67

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

The Company recognizes revenue in the gross amount of consideration when it is acting as a principal and at net amount of consideration when it is acting as an agent. Revenue is measured based on the transaction price, which is the consideration, adjusted for volume discounts, performance bonuses, price concessions and incentives, if any, as specified in the contract with the customer. Revenue also excludes taxes collected from customers.

Revenue from contract with customers is recognized when the Company satisfies performance obligations by transferring promised goods to the customer. Performance obligations are satisfied at the point of time when the customer obtains controls of the asset. Revenue is measured based on transaction price, which is the fair value of consideration received or receivable, stated net of discounts, returns and value added tax. Transaction price is recognized based on the price specified in the contract, net of the estimated sales incentives/discounts. Accumulated experience is used to estimate and provide for the discounts/right of the return, using the expected value method.

The Company assesses for the timing of revenue recognition in case of each distinct performance obligation. The Company first assesses whether the revenue can be recognized over time as it performs if any of the following criteria is met:

(a) The customer simultaneously consumes the benefits as the Company performs, or

(b) The customer controls the work-in-progress, or

(c) The Company’s performance does not create an asset with alternative use to the Company and the Company has right to payment for performance completed till date

If none of the criteria above are met, the Company recognizes revenue at a point-in-time. The point-intime is determined when the control of the goods or services is transferred which is generally determined based on when the significant risks and rewards of ownership are transferred to the customer. Apart from this, the Company also considers its present right to payment, the legal title to the goods, the physical possession and the customer acceptance in determining the point in time where control has been transferred.

2.11 Interest income

Interest income from financial assets at fair value through profit or loss is disclosed as interest income within other income. Interest income on financial assets at amortised cost and financial assets at FVOCI is calculated using the effective interest method is recognised in the statement of profit and loss as part of other income.

2.12 Earnings per share

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to equity shareholders of the Company

• by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year.

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

(ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

• the after income tax effect of interest and other financing costs associated with dilutive potential equity shares, and

• the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

69

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Statement Of Changes In Equity For the Year Ended 31st March, 2023

Statement Of Changes In Equity For the Year Ended 31st March, 2023
	(Rs. In Lacs/amount)
A. EQUITY SHARE CAPITAL	Balance
As at 1st April 2021 Change in Equity Share Capital During the year As at 31st March 2022 Change in Equity Share Capital During the year As at 31st March 2023	46.10 -
	46.10
	295.00
	341.10

	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)	(Rs. In Lacs/amount)
B. OTHER EQUITY	Securiti es Premiu m	State Subsidy*	Capital Reserve	Retained Earnings	Other Comprehe nsive Income #	Total
Balance as at 1st April 2021 Profit / (Loss) during the year Balance as at 31st March 2022 Balance as at 1st April 2022 Profit / (Loss) during the year Transferred to Retained Earnings Securities Premium on account of fresh issue of Preferential Shares Balance as at 31st March 2023	- -	20.00 -	13.69 -	(3.95) (7.75)	29.34 2.33	59.08 (5.42)
	-	20.00	13.69	(11.70)	31.67	53.66
	- - - 147.50	20.00 - (20.00) -	13.69 - - -	(11.70) (25.90) 51.67 -	31.67 - (31.67) -	53.66 (25.90) - 147.50
	147.50	-	13.69	14.07	-	175.26

*State Subsidy

During the 42nd State Level Committee meeting of the Government of Karnataka held on March 26, 1993, a State Investment Subsidy totaling Rs. 182.95 lakhs was sanctioned for Eighteen industrial units. Amongst these units, Chitradurga Spintex Ltd (currently known as MKP Mobility Ltd) was one of the beneficiaries, receiving a subsidy amounting to Rs. 20 lakhs. The primary objective of this State Subsidy was to facilitate investments in fixed assets at a concessional rate.

Historically, this subsidy amount was recorded under the "Reserves and Surplus" category in the company's financial statements. However, for the fiscal year 2022-2023, we wish to highlight that the remaining balance of Rs. 20 lakhs from the State subsidy account has been reclassified and transferred to "Retained Earnings." This decision was made due to the absence of fixed assets in the company, coupled with the fact that no records have been maintained pertaining to this subsidy since its initial allocation.

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MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

#Other Comprehensive Income

In our previous financial statements prepared in accordance with IND AS standards, there was an inadvertent accounting error pertaining to the classification of Interest Income and other nonoperating incomes. These items were erroneously presented under "Other Comprehensive Income (OCI)" instead of being categorized correctly under "Other Income."

To rectify this error and ensure accurate financial reporting, we have taken corrective measures in the fiscal year 2022-23. Specifically, we have reclassified the total amount previously appearing under OCI related to Interest Income and other non-operating incomes. This reclassification has been duly adjusted, and the entire amount has been transferred to "Retained Earnings" during the current fiscal year.

Notes Forming part of the financial statement for the year ended 31st March 2023 (Amounts are stated in Rs. Lacs unless otherwise stated)

3 Investments

Investments
Particulars	As at 31-03-2023	As at 31-03-2022
Equity Shares NSC	- -	0.08 0.03
	-	0.11

4 Other Non Current Financial Assets

4	Other Non Current Financial Assets
5 6	Particulars	As at 31-03-2023	As at 31-03-2022
	Security Deposit	1.00	-
		1.00	-
	Inventories
	Particulars	As at 31-03-2023	As at 31-03-2022
	Stock-in-trade	19.20	-
		19.20	-
	Trade Receivables
	Particulars	As at 31-03-2023	As at 31-03-2022
	Unsecured, considered good	15.19	2.60

71

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

15.19 2.60

Trade Receivables ageing schedule as at 31st March, 2023

Particulars	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Total
	Less than 6 months	6 months- 1year	1-2 years	2-3 years	More than 3 years
(i) Undisputed Trade receivables – considered good	15.19	-	-	-	-	15.19
(ii) Undisputed Trade Receivables – which have significant increase in credit risk	-	-	-	-	-	-
(iii) Undisputed Trade Receivables – credit impaired	-	-	-	-	-	-
(iv) Disputed Trade Receivables– considered good	-	-	-	-	-	-
(v) Disputed Trade Receivables – which have significant increase in credit risk	-	-	-	-	-	-
(vi) Disputed Trade Receivables – credit impaired	-	-	-	-	-	-
Total	15.19	-	-	-	-	15.19

Trade Receivables ageing schedule as at 31st March, 2022

Outstanding for following periods from the date of transaction

	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction	Outstanding for following periods from the date of transaction
Particulars	Less than 6 months	6 months- 1year	1-2 years	2-3 years	More than 3 years	Total
(i) Undisputed Trade receivables – considered good	-	-	2.60	-	-	2.60
(ii) Undisputed Trade Receivables – which have significant increase in credit risk	-	-	-	-	-	-
(iii) Undisputed Trade Receivables – credit impaired	-	-	-	-	-	-
(iv) Disputed Trade Receivables– considered good	-	-	-	-	-	-

72

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

(v) Disputed Trade Receivables – which have significant increase in credit risk	-	-	-	-	-	-
(vi) Disputed Trade Receivables – credit impaired	-	-	-	-	-	-
Total	-	-	2.60	-	-	2.60

7 Cash and Cash Equivalents

Cash and Cash Equivalents
Particulars	As at 31-03-2023	As at 31-03-2022
Cash on Hand Balances with Bank -In Current Accounts	0.02 424.63	0.02 96.12
	424.65	96.14

8 Other Current Financial Assets

Other Current Financial Assets
Particulars	As at 31-03-2023	As at 31-03-2022
Current Loans and Advances (Others) Unsecured, Considered Good Accrued Interest	100.00 0.50	- 1.53
	100.50	1.53

9 Other Current Assets

Other Current Assets
Particulars	As at 31-03-2023	As at 31-03-2022
Prepaid Expenses Balances with Government Authorities	0.13 4.83	- 0.92
	4.96	0.92

10 Share Capital

(a) Authorised, Issued, Subscribed & Paid up and par value per share

Share Capital	As at 31 March 2023	As at 31 March 2023	As at 31 March 2022	As at 31 March 2022
	Number	Amount	Number	Amount

73

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

1,00,00,000 34,11,030 34,11,030	10,00,00,000 3,41,10,300 3,41,10,300	50,00,000 4,61,030 4,61,030	5,00,00,000 46,10,300 46,10,300

(b) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period

the end of the reporting period
Particulars	Opening Balance	Fresh Issue	Closing Balance
Equity Shares with Voting Rights Year ended 31 March,2023 -Number of Shares -Amount in Rs. Year ended 31 March,2022 -Number of Shares -Amount in Rs.	4,61,030 46,10,300 4,61,030 46,10,300	29,50,000 2,95,00,000 - - -	34,11,030 3,41,10,300 - 4,61,030 46,10,300 -

(c) Rights, Preferences and restrictions related to shares

(i) Equity Shares

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per shares. The dividend proposed by the Boards of Directors is subject to the approval of the shareholders in the ensuing Annual General meeting. In the event of liquidation of the company, the holders of Equity Shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

(d) Details of shares held by each shareholder holding more than 5% shares:

Share Capital	As at 31 March 2023	As at 31 March 2023	As at 31 March 2022	As at 31 March 2022
	No.of Shares held	% of holding	No.of Shares held	% of holding
(i)Equity shares with voting rights Anshay Jitesh Patodia Jitesh Mahendra Patodia	5,48,776 17,43,658	16.09 51.12	- -	- -

74

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Angel One Limited - Savanur Rekha - 11 Other Equity Particulars Share Premium Account Opening Balance (+) Security Premium on preferential allotment Closing Balance State Subsidy Opening Balance (-) Transferred to Retained Earnings Closing Balance Capital Reserve Opening Balance (+) Addition during the year Closing Balance Retained Earnings Opening Balance (+) Net Profit/(Net Loss) for the current year (+) Transferred from State Subsidy (+) Transferred from Other Comprehensive Income Closing Balance Other Comprehensive Income Opening Balance (+) Net Profit/(Net Loss) for the current year (-) Transferred to Retained Earnings Closing Balance Total 12 Trade Payables Particulars Total outstanding dues of Micro enterprises and Small Enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises.	Angel One Limited Savanur Rekha	- -	- -		37,100 23,400	37,100 23,400	8.05 5.08
	Particulars			As at 31-03-2023		As at 31-03-2022
	Share Premium Account Opening Balance (+) Security Premium on preferential allotment Closing Balance State Subsidy Opening Balance (-) Transferred to Retained Earnings Closing Balance Capital Reserve Opening Balance (+) Addition during the year Closing Balance Retained Earnings Opening Balance (+) Net Profit/(Net Loss) for the current year (+) Transferred from State Subsidy (+) Transferred from Other Comprehensive Income Closing Balance Other Comprehensive Income Opening Balance (+) Net Profit/(Net Loss) for the current year (-) Transferred to Retained Earnings Closing Balance Total			- 147.50		- -
				147.50		-
				20.00 (20.00)		20.00 -
				-		20.00
				13.69 -		13.69 -
				13.69		13.69
				(11.70) (25.90) 20.00 31.67		(3.95) (7.75) -
				14.07		(11.70)
				31.67 - (31.67)		29.34 2.33
				-		31.67
				175.26		53.66
	Particulars			As at 31-03-2023		As at 31-03-2022
	Total outstanding dues of Micro enterprises and Small Enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises.			39.71 0.17		0.35 0.50

75

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

39.88 0.86

Trade Payables ageing schedule as at 31st March, 2023

Particulars (i) MSME (ii) Others (iii) Disputed dues- MSME (iv) Disputed dues- Others	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Total
	Less than 1 Year	1-2 Years	2-3 Years	More than 3 years
	39.71	-	-	-	39.71
	0.17				0.17
		-	-	-	-
	-	-	-	-	-
Total	39.88	-	-	-	39.88

Trade Payables ageing schedule as at 31st March, 2022

Particulars (i) MSME (ii) Others (iii) Disputed dues- MSME (iv) Disputed dues- Others	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Outstanding for following periods from date of transaction	Total
	Less than 1 Year	1-2 Years	2-3 Years	More than 3 years
	0.35	-	-	-	0.35
	0.50	-	-	-	0.50
	-	-	-	-	-
	-	-	-	-	-
Total	0.86	-	-	-	0.86

13 Other Current Financial Liabilities

Other Current Financial Liabilities
Particulars	As at 31-03-2023	As at 31-03-2022
Other Payables Provision for Expenses	7.51 1.50	- 0.60
	9.01	0.60

14 Other Current Liabilities

	Particulars	As at 31-03-2023	As at 31-03-2022

76

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Statutory Dues Payable	0.25	0.08
	0.25	0.08

1

5 Revenue from Operations

Revenue from Operations
Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022
Sale of Goods	12.21	-
	12.21	-

1

6 Other Income

Other Income
Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022
Interest Income Miscellaneous Income	1.05 0.01	-
	1.06	-

1

7 Changes in Inventories of Stock in Trade

Changes in Inventories of Stock in Trade
Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022
Opening Stock Less: Closing Stock	- 19.20	- -
	(19.20)	-

1 8 Employee Benefits Expenses

Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022

77

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Salaries and Wages 1 9 Other Expenses Particulars Adminstration Fees Audit Fees (Refer Note (19A) below) Bank Charges Listing Fees Miscelleanous Expenses Professional Fees Rates and Taxes Rent ROC Fees SEBI Processing Fees 19A Details of Auditor's Remuneration Particulars Payment to Auditors For Statutory Audit For Taxation Matters For Certification	Salaries and Wages	2.40	-
		2.40	-
	Other Expenses
	Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022
	Adminstration Fees Audit Fees (Refer Note (19A) below) Bank Charges Listing Fees Miscelleanous Expenses Professional Fees Rates and Taxes Rent ROC Fees SEBI Processing Fees	0.72 1.55 0.02 7.31 1.63 3.87 0.03 1.50 3.85 5.00	0.19 0.35 0.00 3.91 0.01 3.28 - - - -
		25.48	7.75
	Particulars	For the year ended31-03-2023	For the year ended31-03-2022
	Payment to Auditors For Statutory Audit For Taxation Matters For Certification	0.80 0.65 0.10	0.35 - -
		1.55	0.35

20 Earning Per Share

Particulars	For the year ended 31-03-2023	For the year ended 31-03-2022
Opening equity shares (Nos. in lakhs)	4.61	4.61

78

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Equity shares issued during the year (Nos. in lakhs) Closing equity shares (Nos. in lakhs) Face value per share (Amount in Rs.) Weighted average number of equity shares used as denominator for basic earnings (Nos.) (a) Net profit after tax used as numerator (Amount in Rs. Lakhs) (b) Basic earnings per Share (Amount in Rs.) (b)/(a ) Diluted earnings per Share (Amount in Rs.) (b)/(a )	29.50 34.11 10.00 31.65 (25.90) (0.82) (0.82)	- 4.61 10.00 4.61 (5.42) (1.18) (1.18)

21 Related Party Disclosure

(a) The company has not paid any remuneration to its Key Manegerial person during the year ended 31.03.2023

(b) Names of the related parties and description of relationship:

i) Associate Companies ii) Key Management Personnel and their relatives	Auto Antariksh Trupti Bharat Agarwal Nevilkumar Vijaykumar Agrawal Sanjay Brijkishore Chaturvedi Anshay Jitesh Patodia Jitesh Mahendra Patodia

(c) Disclosure of relatedparty transactions:	(c) Disclosure of relatedparty transactions:	(c) Disclosure of relatedparty transactions:
Name Of Party	31-Mar-23	31-Mar-22
Auto Antariksh -Purchase of goods Jitesh Patodia -Rent Payable - Rent Deposit	30.50 1.50 1.00	- - -

• (d) Closing Balances of Related Parties:

(d) Closing Balances of Related Parties: (Rs. In Lacs/amount)	(d) Closing Balances of Related Parties: (Rs. In Lacs/amount)	(d) Closing Balances of Related Parties: (Rs. In Lacs/amount)
Name Of Party	31-Mar-23	31-Mar-22
Auto Antariksh

79

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

- Payable Jitesh Patodia -Rent Payable - Rent Deposit	30.50 1.50 1.00	- - -

Note: A related party relationship is as identified by the Company and relied upon by the Auditors.

22 Additional Regulatory Requirements-Ratios

	Ratios as per Schedule III	Ratios as per Schedule III	As at March 31,2023	As at March 31,2023	As at March 31,2023	As at March 31,2022	As at March 31,2022	As at March 31,2022
									%
	Particulars	Formulae used for calculatio n of ratio	Numer ator	Denom intor	Ra tio	Numera tor	Deno minto r	Ra tio	Cha nge in Rati o	Rea sons
	Current ratio	Current Assets/Cur rent Liabilities	564.50	49.14	11. 49	101.19	1.54	65. 83	- 473. 06%	1
	Debt-Equity Ratio	(Non- current borrowings + Current borrowings )/Total Equity	Not Applic able	Not Applic able		Not Applica ble	Not Applic able
	Debt Service Coverage Ratio	EBIDTA/De bt obligation	Not Applic able	Not Applic able		Not Applica ble	Not Applic able
	Return on Equity Ratio	Profit after tax/ Shareholde r's equity	(25.90 )	516.36	(0. 05)	(7.75)	99.77	(0. 08)	- 54.8 9%	2
	Trade Receivables turnover ratio	Revenue from operations /Average trade receivable s	12.21	8.90	1.3 7	-	2.60	-	100. 00%	3

80

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Trade payables turnover ratio	(Purchase of goods + Other expenses)/ Average trade payables(n ot annualised )	58.38	20.37	2.8 7	7.75	0.75	10. 29	- 259. 10%	4
Net capital turnover ratio	Revenue from operations /(Current assets- Current liabilities)	12.21	515.36	0.0 2	-	99.66	-	100. 00%	5
Net profit / (loss) ratio	Profit after tax/ Revenue from operations	(25.90 )	12.21	(2. 12)	(7.75)	-	NA	100. 00%	6
Return on capital employed	EBIT/Capit al employed	(25.90 )	516.36	- 5.0 2%	(7.75)	99.77	- 7.7 7%	- 54.8 9%	7

Reasons for Change more than 25% from previous year

1) Current Ratio :Decrease in current ratio due to substantial increase in current assets as compared to current liabilities

2) Return on Equity Ratio : Return on equity has decreased on account of substantial increase in losses of the company during the year

3) Trade Receivables turnover ratio : There is no turnover in the previous year, resulting in 100% change in the ratio.

4) Trade payables turnover ratio : Due to increase in purchases and expenses during the year as compared to previous year.

5) Net capital turnover ratio : Increase in the ratio is on account of substantial increase in sales of the company

6) Net profit ratio : There is no turnover in the previous year, resulting in 100% change in the ratio.

7) Return on capital employed: Increase in return on capital employed is on account of significant increase in equity share capital during the year.

23 Fair value measurements

Financial instruments by category

Particulars	March 31, 2023	March 31, 2023	March 31, 2022	March 31, 2022
	FVOCI	Amortised cost	FVOCI	Amortised cost
Financial assets Non- current financial assets Investments Security deposits Current financial assets	- -	- 1.00	- -	0.11 -

81

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Trade receivables Cash and cash equivalents Other current fiancial asset	- - -	15.19 424.65 100.50	- - -	2.60 96.14 1.53
Total financial assets	-	541.34	-	100.38
Financial liabilities Non-current financial liabilities Non-current borrowings Current financial liabilities Current borrowings Lease liabilities Trade payables Other current financial liabilities Otherpayables		- - - 39.88 9.01	- - -	- - - 0.86 0.60
Total financial liabilities	-	48.89	-	1.46

The management assessed that the fair value of cash and cash equivalents, trade receivables, trade payables and other current financial assets and liabilities approximate their carrying amounts, largely due to the short term nature of these balances. The fair value of the financial assets and liabilities is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The management assessed that the carrying amounts of its financial instruments are reasonable approximations of fair values.

Fair value hierarchy

• i) This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

As at 31st March 2023	As at 31st March 2023	As at 31st March 2023	As at 31st March 2023	As at 31st March 2023
Financial assets and liabilities measured at amortised cost	Level 1	Level 2	Level 3	Total
Financial assets Investments Security deposits Current financial assets Trade receivables Cash and cash equivalents Other current fiancial asset	- - -	- - -	1.00 15.19 424.65 100.50	1.00 15.19 424.65 100.50
Total financial assets	-	-	541.34	541.34
Financial liabilities

82

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

Financial assets and liabilities measured at amortised cost	Level 1	Level 2	Level 3	Total
Financial assets Investments Security deposits Current financial assets Trade receivables Cash and cash equivalents Other current fiancial asset	- - -	- - -	0.11 - 2.60 96.14 1.53	0.11 - 2.60 96.14 1.53
Total financial assets			100.38	100.38
Financial liabilities Non-current financial liabilities Non-current borrowings Current financial liabilities Trade payables Other current financial liabilities Other payables	- - -	- - -	- 0.86 0.60	- - 0.86 0.60
Total financial liabilities			1.46	1.46

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. However the Company does not have any financial instruments that are measured using Level 1 inputs. Level 2: The fair value of derivatives is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

Fair value of financial assets and liabilities measured at amortised cost

The fair value of all financial instruments carried at amortised cost are not materially different from their carrying amounts, since they are either short-term in nature or the interest rate applicable are equal to the current market rate of interest.

83

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

24 Financial risk management

The Company’s principal financial liabilities comprises of borrowings, lease liabilities , trade and other payables (including capital creditors). The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include loans given, trade and other receivables, and cash and cash equivalents that are derived directly from its operations.

The Company is exposed to the following risks from the use of financial instruments: (a)credit risk,

• (b)liquidity risk, and (c)market risk, (i)foreign currency exchange risk, and

• (ii)interest rate risk.

The Company’s senior management oversees the management of these risks. The Company’s financial risk activities are governed by appropriate policies and procedures and financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below.

(a) Credit Risk

The Company is exposed to credit risk as a result of counterparties defaulting their obligations. The Company's exposure to credit risk primarily relates to trade receivables. The Company monitors and limits its exposure to credit risks on a reasonable basis. The Company's credit risk is associated with Trade Receivables is primarily related to customers not able to settle their obligations as agreed upon. To manage this, the Company periodically reviews the financial reliability of its customers, taken into account their financial conditions, current economic trends, analysis of historical bad debts and ageing of trade receivables. Financial instruments that are subject to such risks, principally consist of trade receivables, contract assets such as security deposits and cash and bank balances. None of the financial instruments of the Company results in material concentration of credit risk.

(b) Liquidity Risk

The Company is exposed to liquidity risk related to its ability to fund its obligations as and when they become due. The Company monitors and manages the liquidity risk to ensure access to sufficient fund to meet operational and financial requirements. The Company has access to credit facilities and monitors cash and bank balances on a regular basis. In relation to the Company's liquidity risk , the Company's policy is to ensure that it will have sufficient liquidity to meet its liabilities when due , under both normal and stressed conditions without incurring unacceptable losses.

The table below analyzes the Company's financial liabilities into relevent maturity groupings based on their contractual maturities.

	March 31, 2023	Current	1 year to 3 years	More than 3 years	Total
	Non-current financial liabilities Non-current borrowings Current financial liabilities	- -		- -

84

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

	Trade payables Other current financial liabilities Other payables Other current liabilities	39.88 9.01 0.25	- -	- - -	39.88 9.01 0.25
	Total	49.14	-	-	49.14
	March 31, 2022	Current	1 year to 3 years	More than 3 years	Total
	Non-current financial liabilities Non-current borrowings Current financial liabilities Trade payables Other current financial liabilities Other payables Other current liabilities	- 0.86 0.60 0.08	- - -	- - -	- - - 0.86 - 0.60 0.08
		1.54	-	-	1.54

25. Amount due to Micro, Small and medium Enterprises

There are no Micro and Small Scale Business Enterprises to whom the company overdues, which are outstanding for more then 45 days as at March 31st 2023. This information as required to be disclosed under the Micro , Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

26.Change in Name

With effect from 21st December, 2022, the name of the Company was changed from Chitradurga Spintex Ltd. to MKP Mobility Ltd. The name change has resulted into modification of its business line. The details regarding the same are as below:

line. The details regarding the same are as below:	line. The details regarding the same are as below:	line. The details regarding the same are as below:
(Amounts in Rs. Lakhs) Sr.No. Particulars FY 22-23 1 Turnover 12.21 2 Expenditure 39.17 3 Netprofit or loss after tax -25.89
Sr.No.	Particulars	FY 22-23
1 2 3	Turnover Expenditure Netprofit or loss after tax	12.21 39.17 -25.89

27. Additional Regulatory Disclosures As Per Schedule III Of Companies Act, 2013

85

MKP Mobility Limited (Formerly known as Chitradurga Spintex Limited) Notes Forming Part of Financial Statements for the Year Ended March 31 , 2023

i) There are no Immovable Property in the name of company during the year.

ii) Details of Benami Property and its proceedings- Not applicable as there are no proceedings which have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

iii) Wilful Defaulter - The company has not been declared wilful defaulter by bank or financial institution or government or any government authority.

iv) Relationship with Struck off Companies -Company does not have any transactions with the Struck off Companies as per section 248 of the Companies Act, 2013 or section 560 of Companies Act,1956.

v) Compliance with number of layers of companies - Not Applicable as the Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

vi) Compliance with approved Scheme(s) of Arrangements - Not Applicable as the Company has no Scheme of Arrangements that has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

vii) Details of Crypto Currency or Virtual Currency - Not Applicable as the Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

viii) There were no whistle blower complaints received by the Company during the year.

ix) The Company does not have any such transaction which is not recorded in the books of accounts that have been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961.

x) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) Provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

b) Provided any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xii) Registration of charges or satisfaction with registrar of companies- The Company does not have any charges or satisfaction which is yet to registered with ROC beyond the statutory period.

28. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

86