87 | Annual Report | 2024-2025 The details of CSR activities undertaken during the year are given in the report on Corporate Social Responsibility activities which is annexed as Annexure IV to the Directors’ Report. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY OPERATIONS IN FUTURE The Reserve Bank of India, exercising its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, issued an Executive Order on October 17, 2024, directing the Company to cease and desist from sanctioning or disbursing loans, effective from the close of business on October 21, 2024. However, these restrictions did not prevent the Company from servicing its existing customers or carrying out collection and recovery activities in accordance with the Executive Order. The Company promptly initiated all necessary remedial actions and submitted the requisite compliances to the RBI. Upon being satisfied with the submissions, and in light of the adoption of revamped processes, systems, and the Company’s commitment to ongoing adherence to Regulatory Guidelines, the Reserve Bank of India, vide its letter dated January 3, 2025, lifted the restrictions on the Company’s sanctioning and disbursal of loans, effective from the same date. DEPOSITS The Company is a non-deposit taking NBFC-MFI and has not accepted any deposit as defined in the Companies Act, 2013. INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013 Our Company has always believed in providing a safe and harassment free workplace for every individual working in the Company premises. Company always endeavors to create and provide an environment that is free from any discrimination and harassment. The policy on prevention of sexual harassment at workplace aims at prevention of harassment of employees {whether permanent, temporary, ad-hoc, consultants, interns or contract workers irrespective of gender} and lays down the guidelines for identification, reporting and prevention of undesired behaviour. The Company has duly constituted Internal Complaints Committee to redress complaints received regarding sexual harassment. The Company has also complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the calendar year 5 (five) cases were reported and all were effectively closed. INTERNAL FINANCIAL CONTROLS The Company has in place adequate and effective internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed. VIGIL MECHANISM The Company has a Whistle-blower Policy which is periodically reviewed and details of the same are explained in the Corporate Governance Report. The Policy is also available on the Company’s website. PARTICIPATION IN CREDIT BUREAU In order to address the issue of multiple lending or over indebtedness and also to know the credit history of the customer, the Company became the member in all the credit bureaus namely Experian Credit Information Company of India Private Ltd, High Mark Credit Information Services Pvt. Ltd., Equifax Credit Information Services Pvt. Ltd., and Transunion CIBIL Limited and shares all the customer’s data to them on regular basis. RESOURCES AND LIQUIDITY Your Company being a Non-Deposit Accepting Middle-Layer NBFC is subject to the capital
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