Directors Report of Sword-Edge Commercials Ltd.

Mar 31, 2025

Your Directors here by present the 40^th Annual Report together with the Audited statements of Accounts for the
financial year ended on 31st March 2025.

FINANCIAL PERFORMANCE:

The Companies financial performance for the year ended 31st March 2025 is summarized below:

Particulars	F.Y. 2024-25	F.Y. 2023-24
Total Income	19.14	39.69
Total Expanses	117.26	26.57
Profit/(Loss) before Taxation	(98.12)	13.13
Provision for Tax	0	0
Add: Deferred Tax Liability Reversal	0	0
Profit/(Loss) after Taxation	(98.12)	13.13

BRIEF DESCRIPTION OF THE COMPANY''S WORKING DURING THE YEAR/STATE OF THE COMPANY''S AFFAIR:

The Company does not have any significant business activity and does not carry out any business during the year
under review.

DIVIDEND:

Considering the losses incurred in the current financial year and accumulated losses, your Directors have not
recommended any dividend for the financial year under review.

TRANSFER TO RESERVES:

The Company has not transferred any amount to Reserves for the period under review.

SHARE CAPITAL:

The issued, subscribed and paid up share capital of the Company is Rs. 21,72,00,000/- divided into 21,72,00,00 equity
shares of Rs 1/- each.

SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES:

The Company does not have any subsidiary, associate companies & joint ventures.

MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

No material changes and commitments affecting the financial position of the company have occurred between the
end of financial year to which the financial statements relate and the date of the Directors'' Report.

DEPOSIT:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the
Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

Details of Loans, Guarantee or Investments made by your Company under Section 186 of the Companies Act, 2013,
during the financial year 2024-25 are enclosed as an Annexure to this Board''s Report. During the year under review,
thecompany has not provided any security falling within purview of Section 186.

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were on arm''s length basis and were in
the ordinary course of the business. There are no materially significant related party transactions made by the
company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict
with interest of the company at large.

SIGNIFICANT ORDERS PASSED BY THE REGULATORS, COURTS OR TRIBUNALS IMPACTING GOING CONCERN AND
COMPANY''S OPERATIONS:

To the best of our knowledge, the company has not received any such orders passed by the regulators, courts or
tribunals during the year, which may impact the going concern status or company''s operations in future. However,
Company has been suspended from trading by BSE Limited due to non-payment of Annual listing Fees and non¬
submission of quarterly compliances.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In compliance with Section 152 of the Companies Act, 2013 and the Articles of Association of the Company, Mrs.
Sakshi Jhala, Whole-time Director retires by rotation and being eligible, offers herself for re-appointment. A resolution
seeking shareholders'' approval for re-appointment of Mrs. Sakshi Jhala forms part of the Notice of the 40th AGM. The
Board has recommended her reappointment.

As on March 31, 2025, the company has six directors with an optimum combination of Executive and Non-Executive
Directors. During the financial year there were no changes in the composition of Board.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from all the Independent Directors under Section 149 (7) of the
Companies Act, 2013, confirming that they meet with the criteria of independence as laid down in Section 149(6) of
the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirement)
Regulations, 2015.

NUMBER OF MEETINGS OF THE BOARD:

The details of the number of meetings of the Board held during the Financial Year 2024-25 forms part of the
Corporate Governance Report.

COMMITTEES OF THE BOARD:

The Board of Directors has the following Committees: -

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders'' Relationship Committee

The details of the Committees along with their composition, number of meetings and attendance at the meetings are
provided in the Corporate Governance Report.

BOARD EVALUATION:

Pursuant to the provisions of the Schedule IV, clause VIII of the Companies Act, 2013 the Board has carried out an
evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit,
Appointment & Remuneration Committees. The performance evaluations of Independent Directors were also carried
out and the same was noted. Independent Directors in their meeting decided to bring more transparency in their
performance and bring more responsibility while taking any policy decisions for the benefit of the shareholders in
general.

REMUNERATION OF THE DIRECTORS/ KEY MANAGERIAL PERSONNEL (KMP)/ EMPLOYEES:

No Directors/ Key Managerial Personnel are drawing any remuneration except chief financial officer (CFO). Company
doesn''t have any permanent employees as on 31^st March 2025. Hence, the information required pursuant to Section
197 read with Rule 5 (1) (i) of The Companies (Appointment and Remuneration) Rules, 2014 in respect of ratio of
remuneration of each director to the median remuneration of the employees of the Company for the Financial year is
not given.

AUDITORS AND AUDITORS'' REPORT:

M/s. H Rajen & Co, Chartered Accountants, (Firm Registration no. 108351W), Statutory Auditors have conducted audit
for the financial year 2024-25. The Auditor''s Report for the current financial year containing qualification, reservation
or adverse remark. The auditor''s report is enclosed with the financial statement in this Annual Report.

The notes to the financial statement are self-explanatory and therefore do not call for any further comments.

COST AUDITOR AND COST AUDIT REPORT:

Cost Audit is not applicable to your Company.

SECRETARIAL AUDIT AND SECRETARIAL AUDITORS'' REPORT:

Pursuant to provisions of section 204 of the Companies Act, 2013 and The Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s. Ashok Patel & Associates,
Practicing Company Secretary to undertake the Secretarial Audit of the Company.

The Secretarial Audit report in the prescribed Form No MR-3 is annexed herewith.

QUALIFICATION IN SECRETARIAL AUDIT REPORT AND EXPLANATIONS BY THE BOARD:-

Sr. No.	Qualifications made by Secretarial Auditor	Explanations by the Board
a	Annual Listing Fees - Reg. 14, SEBI (LODR) Regs., 2015 It is noted that trading in the Company''s equity shares was suspended due to non¬ payment of annual listing fees and later for non-compliance with shareholding pattern filing. The Company has since resumed step¬ wise regularization; timely fee payment going forward will help sustain compliance.	The company will take necessary steps to comply with the same.
b	Shareholding Pattern - Reg. 31, SEBI (LODR) Quarterly shareholding pattern was not filed within timelines, which triggered regulatory action (suspension noted by the exchange). The Company intends to re-establish timely filings and made the filing in subsequent year.	The company will take necessary steps to comply with the same.
c	Financial Results - Reg. 33, SEBI (LODR) There were delays/deficiencies in quarterly/annual results (e.g., missing/delay in filing of Limited Review Report); The Company is aligning disclosures for upcoming periods.	The company will take necessary steps to comply with the same.
d	Newspaper Publications - Reg. 47, SEBI (LODR) Newspaper publications for financial results/AGM notices were not published on all required events. However, the Company is putting a publication process in place	The company will take necessary steps to comply with the same.
e	e-Voting - Reg. 44, SEBI (LODR) & Companies Act Remote e-voting facility was not provided for the AGM on one or more occasions. The Company plans to enable e-voting through its RTA/NSDL/CDSL henceforth.	The company will take necessary steps to comply with the same.
f	Investor Grievance Statement - Reg. 13(3), SEBI (LODR) Quarterly statement of investor complaints was not filed within time. The Company is streamlining the complaint-tracking and quarterly reporting.	The company will take necessary steps to comply with the same.
g	Price-Sensitive Disclosures & Meeting Intimations - Reg. 29 & Reg. 30, SEBI (LODR) Postponement/adjournment of Board meetings and outcomes were not always intimated in the manner/timelines prescribed for material events. The Company proposes to tighten internal timelines for Reg. 29/30 intimations	The company will take necessary steps to comply with the same.
h	PIT - Structured Digital Database (SDD) - Reg. 3(5), SEBI (PIT) Regs., 2015 SDD was not maintained by the Company for UPSI sharing/trading window data. The Company is implementing compliant SDD with time-stamped, non-editable log	Company Will maintain the same in short period

i	Certificates under Reg. 40(9) and DP Reg. 74(5) were subsequently uploaded; ensure timely quarter-wise/periodic certifications are obtained and filed.	Company Will maintain the same in short period
j	Annual Secretarial Compliance Report has been filed in recent years; continue timely submission within 60 days from FY end and include additional affirmations required by exchanges.	The company will take necessary steps to comply with the same.
K	As on report date, the Company does not have a whole-time Company Secretary. Appointment is mandatory for every listed company. The Board has been advised to complete the appointment promptly.	The company will take necessary steps to comply with the same.
L	Deposits - Sec. 73-76, CA 2013 & Companies (Acceptance of Deposits) Rules, 2014 Statutory auditor''s notes indicate contraventions relating to acceptance/repayment of deposits. The Company is working to reconcile and regularise in line	The company will take necessary steps to comply with the same.
M	Statutory Dues & Tax Compliances (as per FS/notes) Delays in remittance of statutory dues were noted in financial statements. Management has indicated steps to clear outstanding and to improve controls	The company will take necessary steps to comply with the same.
N	Suspension/Revocation - Trading Window for Non-compliant Scrips (Exchange SOP)	The company will take necessary steps to comply with the same.

INTERNAL CONTROL SYSTEMS:

As there are no significant business activities there were no systems set up for Internal Controls.

EXTRACT OF ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3) (a) of the Companies Act 2013, the Annual Return as on 31st
March 2024 is available on the website of the Company at www.swordedgecommercialslimited.shop

REPORT ON CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION & ANALYSIS:

Pursuant to Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 Company has taken adequate steps to ensure that all mandatory provisions of Corporate
Governance as prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are
complied with, a separate section titled Report on Corporate Governance together with a Certificate from the
Practicing Chartered accountants forms part of this Report.

A detailed Management Discussion & Analysis forms part of this Report.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The Company has not developed and implemented any Corporate Social Responsibility initiative under the provisions
of Section 135 of the Companies Act, 2013, read with Rule 9 of Companies (Corporate Social Responsibility Policy)
Rules, 2014, as the said provisions are not applicable.

PARTICULARS OF EMPLOYEES:

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, is not required to be given as there were no employees
coming within the purview of this section.

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

The Company has zero tolerance for sexual harassment at workplace and has adopted a policy against sexual

harassment in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the rules framed thereunder, however during the financial year 2024-25, no complaint
were received hence no complaint is outstanding as on 31^st March 2025.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section 134(3)(m) of
the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, are not applicable to Company,
as our Company has not carried out in the manufacturing activities. The foreign exchange earnings on account of the
operation of the Company during the year was Rs. Nil.

DIRECTORS'' RESPONSIBILITY STATEMENT:

The Directors'' Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies
Act, 2013, shall state that:

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

b) the Directors have selected such accounting policies and applied them consistently and made judgments and
estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company at the end of the financial year and of the profit or loss of the Company for that period;

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;

e) Directors have prepared the accounts on a "going concern basis".

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

DISCLOSURE UNDER SECTION 197(12) OF THE COMPANIES ACT, 2013 AND OTHER DISCLOSURES AS PER RULE 5 OF
COMPANIES (APPOINTMENT & REMUNERATION) RULES, 2014:

Pursuant to Section 197(12) of the Companies Act, 2013 and Rule 5 of Companies (Appointment & Remuneration)
Rules, 2014, every Listed Company mandate to disclose in the Board''s Report the ratio of the remuneration of each
director to the permanent employee''s remuneration. However, since there are no employees in the Company,
no disclosure under the said provision has been furnished.

BUSINESS RISK MANAGEMENT:

Since the Company does not have any significant business activities, hence the Business Risk is at the Minimal Level.
Hence, no major risk factors are envisaged except for: a. Government Policies b. Human Resource Risk

VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

The Company encourages an open and transparent system of working and dealing amongst its stakeholders and
accordingly, has framed a robust vigil mechanism in the form of Whistle Blower policy. This policy enables its
directors and employees of the Company or any other person who avails the mechanism framed under this policy to
report concerns about unethical or improper practices or alleged wrongful conduct, actual or suspected fraud etc.,
without any fear of discrimination or victimization of any kind. This policy protects such directors and employees
from unfair or prejudicial treatment by anyone within the Company. It also provides direct access to the chairman of
the Audit committee. Details of vigil mechanism/whistle blower policy are included in the Corporate Governance
Report, forming part of this Report. The policy is available on the website of the Company at
www.swordedgecommercialslimited.shop.

In order to enhance the knowledge amongst the employees about the Whistle Blower policy, an awareness
programme was undertaken by the Company and an annual affirmation in this regard was obtained from the
employees.

During the financial year 2024-25, no complaints under this mechanism have been reported.

Maternity benefit provided by the company under Maternity Benefit Act 1961:

The Company confirms that it has followed the Maternity Benefit Act, 1961. All eligible women employees received the

required benefits, including paid leave, continued salary and service, and post-maternity support like nursing breaks and
flexible work options.

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the
Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also wish to take on
record their deep sense of appreciation for the committed services of the employees at all levels, which has made our
Company successful in the business.

For and on Behalf of the Board
For, SWORD-EDGE COMMERCIALS LIMITED

Place: Mumbai
Date: 29.08.2025

Karamjeet Kaur Sidhu
Managing Director
DIN:03325221

---

Mar 31, 2015

Dear Shareholders,

The Directors here by present the 30th Annual Report together with the Audited statements of Accounts for the financial year ended on 31st March 2015.

OPERATIONS REVIEW:

During the year under review due to financial crisis company has not carried out any business activities and faces huge set back. So company not in position to generate any revenue from the operation but due to some fixed cost company posted Net Loss of Rs.229054/-.

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF THE COMPANY'S AFFAIR:

The Company does not have any significant business activity and not carried out any business during the year under review.

DIVIDEND:

Considering the loss incurred in the current financial year and accumulated losses, your Directors have not recommended any dividend for the financial year under review.

TRANSFER TO RESERVES:

The Company has not transferred any amount to Reserves for the period under review.

SHARE CAPITAL:

The issued, subscribed and paid up capital of the Company is Rs. 108600000/- divided into 18600000 equity shares of Rs 10/- each. There has been no change in the share capital of the Company during the year.

SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES:

The Company does not have any subsidiary, associate companies & joint ventures.

FIXED DEPOSIT:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were on arm's length basis and were in the ordinary course of the business. There are no materially significant related party transactions made by the company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the company at large.

MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

No material changes and commitments affecting the financial position of the company have occurred between the end of financial year to which the financial statements relate and the date of the Directors' Report.

SIGNIFICANT ORDERS PASSED BY THE REGULATORS, COURTS OR TRIBUNALS IMPACTING GOING CONCERN AND COMPANY'S OPERATIONS:

To the best of our knowledge, the company has not received any such orders passed by the regulators, courts or tribunals during the year, which may impact the going concern status or company's operations in future.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

MR. VIPUL TRIVEDI was appointed as an Additional Director of the Company on 20.08.2015 and hold office up to the date of this Annual General Meeting be and hereby appointed as director of the Company and whose office liable to retire by rotation. MR. NILESHKUMAR KAVA and MS. DINABEN GANATRA were appointed on 20.08.2015 and 27.08.2015 as an Additional Director of the Company and is hereby appointed as an Independent Director of the Company to hold office for five consecutive years for a term up to September 28, 2020.

Mr. SANTOSH GANGADHAR MOHITE, Mr. SAYAMAN ANTONY FERNANDES and Mr. SARJERAO CHAVAN were resigned as a Director of the Company with effect from 27.08.2015, 27.08.2015 and 20.08.2015 respectively.

Since the Company does not have any significant business activities, hence the Volume and Scope of work for the Company Secretary and Chief Financial Officer are less and it is not a full time work and the job of Company Secretary and Chief Financial Officer are not attractive commensurate with the scope of work and salary.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from each Independent Director under Section 149 (7) of the Companies Act, 2013, that they meet the criteria of independence laid down in Section 149(6) of the Companies Act, 2013.

MEETINGS:

Minimum four pre-scheduled Board meetings are held annually. In case of business exigencies or urgency of matters, resolutions are passed by circulation. During the year Nine Board Meetings and four Audit Committee Meetings were convened and held, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and Listing Agreement.

AUDIT COMMITTEE:

The terms of reference of the Audit Committee are in consonance with the provisions of Section 177 of the Companies Act, 2013 and details thereof have been furnished in the Corporate Governance Report forming a part of this Annual Report.

NOMINATION AND REMUNERATION COMMITTEE:

Nomination and Remuneration Committee has been constituted as per the provisions of Section 178(1) of the Companies Act, 2013 and details thereof have been furnished in the Corporate Governance Report forming a part of this Annual Report.

STAKEHOLDERS' RELATIONSHIP COMMITTEE:

The Board of Directors of the Company has re-named Share Holders Grievance/ Share Transfer Committee as 'Stakeholders Relationship Committee' in order to align it with the provisions of Section 178 of the Companies Act, 2013 and details thereof have been furnished in the Corporate Governance Report forming a part of this Annual Report.

BOARD EVALUATION:

Pursuant to the provisions of the Schedule IV, clause VIII of the Companies Act, 2013 the Board has carried out an evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit, Appointment & Remuneration Committees. The performance evaluations of Independent Directors were also carried out and the same was noted. Independent Directors in their meeting decided to bring more transparency in their performance and bring more responsibility while taking any policy decisions for the benefit of the shareholders in general.

REMUNERATION OF THE DIRECTORS/ KEY MANAGERIAL PERSONNEL (KMP)/ EMPLOYEES:

No Directors/ Key Managerial Personnel are drawing any remuneration. Hence, the information required pursuant to Section 197 read with Rule 5 (1) (i) of The Companies (Appointment and Remuneration) Rules, 2014 in respect of ratio of remuneration of each director to the median remuneration of the employees of the Company for the Financial year is not given.

AUDITORS AND AUDITORS' REPORT:

M/s. RISHI SEKHRI AND ASSOCIATES, Chartered Accountants, Mumbai (Firm Reg. No. 128216W), in respect of whom the company has received a Special Notice under section 140(4) of the Act, proposing their appointment in the place of retiring auditors M/s. Y. D. & Co., Chartered Accountants, Ludhiana, (FRN 018846N) and hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

The observations made by the Auditors' in their Auditors' Report and the Notes on Accounts referred to in the Auditors' Report are self-explanatory and do not call for any further comments.

COST AUDITOR AND COST AUDIT REPORT:

Cost Audit is not applicable to your Company.

INTERNAL CONTROL SYSTEMS:

As there is no significant business activities hence there was no systems set up for Internal Controls.

EXTRACT OF ANNUAL RETURN:

An extract of Annual Return as prescribed under Section 92(3) of the Companies Act, 2013 ('the Act') and rule 12(1) of the Companies (Management and Administration) Rules, 2014, in the prescribed Form No. MGT 9 forming part of this report is annexed herewith

MANAGEMENT DISCUSSION AND ANALYSIS:

Management Discussion and Analysis forms part of the Annual Report to the shareholders and it includes discussion on matters as required under the provisions of Clause 49 of the listing agreement forming part of this report is annexed herewith.

CORPORATE GOVERNANCE REPORT:

Your Company has complied with the requirements of Clause 49 of the Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Report on Corporate Governance along with the Auditors' Certificate on its compliance is annexed separately to this Annual Report.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The Company has not developed and implemented any Corporate Social Responsibility initiative under the provisions of Section 135 of the Companies Act, 2013, read with Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014, as the said provisions are not applicable.

PARTICULARS OF EMPLOYEES:

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is not required to be given as there were no employees coming within the purview of this section.

TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section 134(3)(m) of the Companies Act, 2013 read with Rule, 8 of The Companies (Accounts) Rules, 2014, are not applicable to Company, as our Company has not carried out in the manufacturing activities. The foreign exchange earning on account of the operation of the Company during the year was Rs. Nil.

DIRECTORS' RESPONSIBILITY STATEMENT:

The Directors' Responsibility Statement referred to in clause (c) of Sub-section (3) of Section 134 of the Companies Act, 2013, shall state that:

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

b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

e) Directors have prepared the accounts on a "going concern basis".

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

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

Since there are no women employees in the Company hence no comments

DISCLOSURE UNDER SECTION 197(12) OF THE COMPANIES ACT, 2013 AND OTHER DISCLOSURES AS PER RULE 5 OF COMPANIES (APPOINTMENT & REMUNERATION) RULES, 2014:

Pursuant to Section 197(12) of the Companies Act, 2013 and Rule 5 of Companies (Appointment & Remuneration) Rules, 2014, every Listed Company mandates to disclose in the Board's Report the ratio of the remuneration of each director to the permanent employee's remuneration. However, since there is no permanent employee in the Company, no disclosure under the said provision has been furnished.

BUSINESS RISK MANAGEMENT:

Since the Company does not have any significant business activities, hence the Business Risk is at the Minimal Level. Hence, no major risk factors are envisaged except for: a. Government Policies b. Human Resource Risk

VIGIL MECHANISM

As the Company does not have any significant business activity, there was no need to have a Vigil Mechanism Policy.

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels, which has made our Company successful in the business.

For and on Behalf of the Board

For, SWORD-EDGE COMMERCIALS LIMITED

PLACE: MUMBAI

DATE: 28.08.2015 Sd/-

(VIPUL TRIVEDI)

CHAIRMAN

---

Mar 31, 2014

Dear Members,

The Directors here by present the Twenty Ninth Annual Report on business and operations of the Company together with the Audited statements of Accounts for the financial year ended on 31st March 2014.

REVIEW OF OPERATIONS:

During the year under review due to sluggish market condition and financial crisis company faces huge set back. So company unable to generate any revenue from the operation the Company but due to some fixed cost company suffer net loss of Rs. 173005 for the year ended 31st March, 2014.

The management has taken measures as part of its continuous improvements to strengthen operations and viability.

DIVIDEND:

In view of present situation, your Directors have not declared any dividend during the year under review.

FIXED DEPOSIT:

The Company has not accepted any deposit from the public pursuant to the provisions of Section 58A of the Companies Act, 1956.

BOARD OF DIRECTORS:

Mr. Sayaman Antony Fernandes was appointed as an Additional Director of the Company on 05.06.2014 be and hereby appointed as director of the Company and whose office liable to retire by rotation. Mr. SARJERAO CHAVAN and Mr. SANTOSH GANGADHAR MOHITE were appointed on 19.06.2014 and 05.06.2014 as an Additional Director of the Company and appointed as an Independent Director of the Company for a period of five years from the conclusion 29th AGM to the conclusion of 34th AGM. Mr. CHANDRA MOHAN DEVDAS RAO and Mr. KAMALA CHANDRA MOHAN RAO were appointed as Additional Director as on 23.04.2014 and resigned from the board as on 05.06.2014.

Mr. MAHENDRA GANATRA, Mr. NILESHKUMAR KAVA and Mr. MR. VIPUL TRIVEDI were resigned as a Director of the Company with effect from 23.04.2014, 19.06.2014 and 01.07.2014.

AUDITORS AND AUDITORS'' REPORT:

M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

The observations made by the Auditors'' in their Auditors'' Report and the Notes on Accounts referred to in the Auditors'' Report are self-explanatory and do not call for any further comments.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management Discussion and Analysis forms part of the Annual Report to the shareholders and it includes discussion on matters as required under the provisions of Clause 49 of the listing agreement forming part of this report is annexed herewith.

CORPORATE GOVERNANCE REPORT:

A separate report on Corporate Governance along with Auditors'' Certificate on compliance with the Corporate Governance norms and stipulated in Clause 49 of the Listing Agreement, forming part of this report is annexed herewith.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section 217(1)(e) of the Companies Act 1956, are not applicable to our Company, as our Company has not carried out any manufacturing activities. The foreign exchange earning on account of the operation of the Company during the year was Rs. Nil.

LISTING:

The Company Listed with BSE Limited, Mumbai

PARTICULARS OF EMPLOYEES:

The statement showing particulars of employees under section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of Employees) Rules, 1975, as amended, is not required to be given as there were no employees coming within the purview of this section.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Directors of your Company confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;

iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) Directors have prepared the accounts on a "going concern basis".

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels, which has made our Company successful in the business.

For and on Behalf of the Board For, SWORD-EDGE COMMERCIALS LIMITED PLACE: MUMBAI DATE: 28.08.2014 (SAYAMAN FERNANDES) CHAIRMAN

---

Mar 31, 2013

Dear Shareholders,

The Directors here by present the Twenty Eight Annual Report on business and operations of the Company together with the Audited statements of Accounts for the financial year ended on 31st March 2013.

REVIEW OF OPERATIONS:

During the year under review due to sluggish market condition and financial crisis company faces huge set back. So company unable to generate targeted revenue from the operation the Company hence total Income was stood at Rs. 58823/- against Rs. 714575/- in the previous year and after providing depreciation and tax company incurred net loss of Rs. 187062/- for the year ended 31st March, 2013.

DIVIDEND:

In view of present situation, your Directors have not declared any dividend during the year under review.

FIXED DEPOSIT:

The Company has not accepted any deposit from the public pursuant to the provisions of Section 58A of the Companies Act, 1956.

BOARD OF DIRECTORS:

Mr. Nileshkumar Tribhovandas Kava, Director of the Company is retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

AUDITORS AND AUDITORS'' REPORT:

M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The observations made by the Auditors'' in their Auditors'' Report and the Notes on Accounts referred to in the Auditors'' Report are self-explanatory and do not call for any further comments.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management Discussion and Analysis forms part of the Annual Report to the shareholders and it includes discussion on matters as required under the provisions of Clause 49 of the listing agreement forming part of this report is annexed herewith. The Audit Committee of the Company has regularly reviewed internal Control System of the company.

CORPORATE GOVERNANCE REPORT:

Your Company has complied with the requirements of Clause 49 of the Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Report on Corporate Governance along with the Auditors'' Certificate on its compliance is annexed separately to this Annual Report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of conservation of energy, technology absorption etc. as required to be given under Section 217(1)(e) of the Companies Act 1956, are not applicable to our Company, as our Company has not carried out any manufacturing activities.

The foreign exchange earning on account of the operation of the Company during the year was Rs. Nil.

PARTICULARS OF EMPLOYEES:

The statement showing particulars of employees under section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of Employees) Rules, 1975, as amended, is not required to be given as there were no employees coming within the purview of this section.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Directors of your Company confirm that:

i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;

iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) Directors have prepared the accounts on a "going concern basis".

ACKNOWLEDGEMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government Authorities, Customers, and Shareholders during the year. Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels, which has made our Company successful in the business.

For and on Behalf of the Board

For, SWORD-EDGE COMMERCIALS LIMITED

PLACE: MUMBAI

DATE: 31.08.2013

(NILESHKUMAR KAVA)

CHAIRMAN

---

Mar 31, 2010

The directors have pleasure in presenting their Twenty-Forth Annual Report and Audited Accounts for the year ended 31-3-2010

FINANCIAL RESULTS :

The working of the year ended 31st March 2010 shows a profit of Rs. 9,05,771/- after making provision for taxation, which is carried to Balance sheet along with the profit of the earlier year Rs. 1,01,32,977/-

BOARD OF DIRECTORS :

Shri Jagdish S. Malani & Hasmukh S. Malani retires by rotation and being eligible seeks reelection.

AUDITORS:

The Auditors retire from the office at this Annual General Meeting and are eligible for reappointment.

OTHER INFORMATION :

The other information required u/s 217(2A)and 217 (1E) of the companies act 1956 are not applicable as no employee was in receipt of remuneration to the extent laid down therein.

DEMATERIALISATION OF SHARE HOLDING :

The Companies script form part of the compulsory demat segment for all investors. The company has established connectivity with both the depositories viz NSDL and CDSL through the register M/s Adroit Corporate Services Pvt. Ltd. ISIN of the company is INE 093G01014.

DIRECTORS RESPONSIABLlTY STATEMENT :

Pursuant to an amendment to Section 217 of the Companies Act,1956 your Directors give here under responsibility Statements pertaining to the accounts of the Company.

1. In the preparation of the Annual accounts, the applicable accounting standards have been followed along with proper explanation / statement relating to material departures.

2. The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as on 31st March. 2010 and of the Profits Loss Account of the Company for the year ended on that date.

3. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities

4. These accounts have been prepared on a going concern basis.

By order of the Board

CHANDRAKANT S. MALANI

JAGDISH S. MALANI

HASMUKH S. MALANI

MUKESH N. MALANI

Directors

Place: Mumbai.

Dated: The 28 th day of May 2010