Ebix Payment Services Private Limited Fiscal Year End 2021 Financial Statements

EBIX PAYMENT SERVICES PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[700300] Disclosure of general information about company
Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2018
to
31/03/2019
Name of company
EBIX PAYMENT SERVICES
PRIVATE LIMITED
Corporate identity number U74999MH2006PTC160835
Permanent account number of entity AABCI5133N
Address of registered office of company
2nd Floor, Manek Plaza,
Kalina , CST Road,
Kolekalyan, Santacruz
(E) , Mumbai , MAHARASHTRA
, INDIA - 400098
Type of industry
Commercial and
Industrial
Date of board meeting when final accounts were approved 30/10/2021
Date of start of reporting period 01/04/2020 01/04/2019 01/04/2018
Date of end of reporting period 31/03/2021 31/03/2020 31/03/2019
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other relevant
books and papers in electronic form
No
Disclosure of principal product or services [Table] ..(1)
Types of principal product or services [Axis] 1
01/04/2020
to
31/03/2021
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 9983
Description of product or service category
O T H E R
PROFESSIONAL,
TECHNICAL AND
BUSINESS
SERVICES
Turnover of product or service category 3,07,260.45
Highest turnover contributing product or service (ITC 8 digit) code 99831591
Description of product or service
Prepaid Payment
Instruments
Turnover of highest contributing product or service 3,07,260.45

2
EBIX PAYMENT SERVICES PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[700600] Disclosures - Directors report
Details of directors signing board report [Table] ..(1)
Directors signing board report [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director Vikas SATYA
Middle name of director BUSHAN
Last name of director Verma KOTRU
Designation of director Director Director
Director identification number of director 03511116 01729176
Date of signing board report 30/10/2021 30/10/2021
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Principal business activities of company [Axis]
Product/service 1
[Member]
01/04/2020
to
31/03/2021
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Name of main product/service
Other Professional,
Technical and
Business Services
Description of main product/service
Other Professional,
Technical and
Business Services
NIC code of product/service 99831591
Percentage to total turnover of company 100.00%

3
01/04/2020
to
31/03/2021
Disclosure in board of directors report explanatory [TextBlock]
Textual information (1)
[See below]
Description of state of companies affair
[See below]
Disclosure relating to amounts if any which is proposed to carry to any
reserves
The Board of Directors of
your company has decided
to transfer Rs. 745.66
Lakhs to Reserves for the
year under review.
Disclosures relating to amount recommended to be paid as dividend
The Board of Directors of
your company, after
c o n s i d e r i n g
h o l i s t i c a l l y t h e
relevant circumstances,
has decided that it would
be prudent, not to
recommend any Dividend
for the year under review.
Details regarding energy conservation
Conservation of Energy
: Not applicable
Steps taken or impact on conservation of energy [Text block]
C o n s e r v a t i o n o f
Energy : Not applicable
/>
Steps taken by the company for utilising alternate sources of energy
[Text block]
C o n s e r v a t i o n o f
Energy : Not applicable
/>
Details regarding technology absorption
Technology Absorption
: Not applicable
Efforts made towards technology absorption [Text block]
T e c h n o l o g y
A b s o r p t i o n : N o t
applicable
Benefits derived regarding technology absorption
Technology Absorption
: Not applicable
Details regarding foreign exchange earnings and outgo
Foreign Exchange
Earnings : Nil Foreign
Exchange Outgo : Nil
Disclosures in director’s responsibility statement
[See below]
Details of material changes and commitment occurred during period
affecting financial position of company
There were no, material
changes and commitments
affecting the financial
position of the Company
occurred between the end
of the financial year to
which this financial
statement relates.
Particulars of loans guarantee investment under section 186 [TextBlock]
P u r s u a n t t o t h e
provision of section 186
of the Companies Act, 2013
the particulars of loans,
g u a r a n t e e s a n d
investment have been
d i s c l o s e d i n t h e
financial statements.
/>
Particulars of contracts/arrangements with related parties under section
188(1) [TextBlock]
[See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
length basis
No
Details of contracts/arrangements/transactions not at arm's length
basis [LineItems]
Name of related party

4
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
arm's length basis
No
Details of material contracts/arrangements/transactions at arm's
length basis [LineItems]
Name of related party
Details of statement indicating manner in which formal
annual evaluation made by board of its performance and of its
committees and individual directors [TextBlock]
NA
Date of board of directors' meeting in which board's report referred
to under section 134 was approved
30/10/2021
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock]
[See below]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Details of principal business activities contributing 10% or
more of total turnover of company [LineItems]
Name of main product/service
Description of main product/service
NIC code of product/service
Percentage to total turnover of company
Particulars of holding, subsidiary and associate companies [Abstract]
Particulars of holding, subsidiary and associate companies
[LineItems]
Name of company
EBIX PAYMENT SERVICES
PRIVATE LIMITED
Details of change in promoters shareholding [TextBlock]
[See below]
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of top 10 shareholders [LineItems]
Name of shareholder
Details of shareholding pattern of directors and key managerial
personnel [TextBlock]
[See below]
Disclosure of statement on declaration given by independent directors
under section 149(6) [TextBlock]
Not applicable
/>
Reappointment of independent directors as per section 149(10) [TextBlock]
Not applicable
/>
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters
provided under section 178(3) [TextBlock]
NA
Disclosure of statement on development and implementation of risk
management policy [TextBlock]
[See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year
[TextBlock]
[See below]
Report on highlights on performance of subsidiaries,
associates and joint venture companies and their
contribution to overall performance of the companies
during the period under report [TextBlock]
[See below]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock]
[See below]
Disclosure of change in nature of business [TextBlock]
there were no changes
in the nature of the
business activities of
the Company.
Details of directors or key managerial personnels who were
appointed or have resigned during year [TextBlock]
Mr. Graham John Prior,
Director of the Company
has resigned w.e.f. July
30, 2020
M r .
Neil David Eckert,
has resigned on w.e.f.
July 30, 2020

5
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during
year [TextBlock]
[See below]
Details relating to deposits covered under chapter v of companies act
[TextBlock]
The Company has not
accepted any deposits,
within the meaning of
S e c t i o n 7 3 o f t h e
Companies Act, 2013, read
with the Companies
(Acceptance of Deposits)
Rules, 2014.
/>
Details of deposits which are not in compliance with requirements
of chapter v of act [TextBlock]
The Company has not
accepted any deposits,
within the meaning of
S e c t i o n 7 3 o f t h e
Companies Act, 2013, read
with the Companies
(Acceptance of Deposits)
Rules, 2014.
/>
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern
status and company’s operations in future [TextBlock]
T h e r e w a s n o
significant and material
order passed by the
Regulators or courts or
Tribunals impacting the
going concern status and
company’s Operations in
future.
Details regarding adequacy of internal financial controls with
reference to financial statements [TextBlock]
[See below]
Disclosure of contents of corporate social responsibility policy
[TextBlock]
[See below]
Disclosure of appointment and remuneration of director or
managerial personnel if any, in the financial year [TextBlock]
The provisions of
Section 197 read with
Schedule V of the
Companies Act 2013 with
respect to Managerial
Remuneration are not
applicable for Private
Limited Company.
/>
Details of remuneration of director or managerial personnel [Abstract]
Details of remuneration of director or managerial personnel [Line
items]
Director identification number of director
Top ten employed throughout the financial year was in
receipt of remuneration in aggregate for that year not
less than one crore and two lakh rupees [Text block]
The provisions of
Schedule V of the
Limited Company.
/>
Top ten employed for a part of financial year, at the rate
in aggregate was not less than eight lakh and fifty
thousand rupees per month [TextBlock]
The provisions of
Schedule V of the
Limited Company.
/>

6
Top ten employed throughout the
financial year of a part was in
receipt of aggregate
remuneration in excess of
managing director or wholetime
director or manager and holds by
himself along with spouse and
children not less than two percent
of equity shares of company [
TextBlock]
NA
Disclosure regarding issue of sweat equity shares [TextBlock] NA
Disclosure of voting rights not exercised directly by employees [TextBlock] NA
Disclosure of equity shares with differential rights [TextBlock] NA
Disclosure of composition of audit committee and non-acceptance
of any recommendation of audit committee along with reasons
[TextBlock]
NA
Disclosure of details of establishment of vigil mechanism [TextBlock]
The Company has a
whistle blower policy to
report genuine concerns
or grievances. The
Whistle Blower policy has
been posted on the website
o f t h e C o m p a n y
(www.ebixcash.com).
/>
Disclosure of policy formulated by nomination and remuneration
committee relating to remuneration for directors, key
managerial personnels and other employees [TextBlock]
NA
Disclosure of receipt of commission by director from holding company or
subsidiary company
Nil
Disclosure of facts of resignation of director in report of
directors laid in immediately following general meeting
[TextBlock]
Mr. Graham John Prior,
has resigned w.e.f. July
30, 2020
M r .
Neil David Eckert,
has resigned on w.e.f.
July 30, 2020
Disclosure of report concerns about unethical behaviour,
actual or suspected fraud or violation of company’s code of
conduct or ethics policy [TextBlock]
Nil
Disclosures relating to employee stock option scheme explanatory
[TextBlock]
NA
Disclosures relating to employee stock purchase scheme explanatory
[TextBlock]
NA
Number of meetings of board [pure] 5
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director
Middle name of director
Last name of director
Designation of director
Director identification number of director
Date of signing board report

7
Disclosure in board of directors report explanatory [Text Block]
NOTICE OF ANNUAL GENERAL MEETING
NOTICE is hereby given that the Fifteenth Annual General Meeting of the members of Ebix Payment Services Private Limited is to be
convened on Monday, December 06, 2021 at 03:00 p.m. IST through video conferencing (“VC”)/ Other Audio Visual Means (“OAVM”),to
transact the following business:
ORDINARY BUSINESS:
To receive, consider and adopt the Audited Balance Sheet as at March 31, 2021 and the Statement of Profit and Loss for the financial year
ended March 31, 2021 and the Reports of the Board of Directors and the Auditors thereon and in this regard, to consider and if thought fit, to
pass, with or without modification(s), the following resolution as Ordinary Resolution:
“RESOLVED THAT the audited financial statement of the Company along with Statement of Profit and Loss for the financial year ended
March 31, 2021 and the reports of the Board of Directors and Auditors thereon, as circulated to the Members, be and are hereby considered
and adopted.”
To appoint M/s. Walker Chandiok & Co. LLP, Chartered Accountants (Firm Registration No. 001076N/N500013) and M/s. K. G. Somani &
Co. LLP, Chartered Accountants (Firm Registration No. 006591N/N500377) as Joint Statutory Auditors of the Company to hold the office
for a period of five consecutive years from the conclusion of this 15th Annual General meeting till the conclusion of 20th Annual General
Meeting to be held for the FY 2025-26 and to fix their remuneration and in this regard, to consider and if thought fit, to pass, with or without
modification(s), the following resolution as Ordinary Resolution:
“RESOLVED THAT pursuant to the provisions of Section 139 of the Companies Act, 2013 and other applicable provisions, and rules made
thereunder as amended from time to time, M/s. Walker Chandiok & Co. LLP, Chartered Accountants (Firm Registration No.
001076N/N500013) and M/s. K. G. Somani & Co. LLP, Chartered Accountants (Firm Registration No. 006591N/N500377) be and are
hereby appointed as Joint statutory auditor of the company to hold office from the conclusion of this this 15th Annual General meeting till
the conclusion of 20th Annual General Meeting to be held for the FY 2025-26, at such remuneration and out of pocket expenses and taxes as
applicable as may be decided between the board of directors and statutory auditors.”
By order of the Board of Directors
FOR EBIX PAYMENT SERVICES PRIVATE LIMITED
RAHUL CHOPRA
COMPANY SECRETARY
M. No. A41826
DATE: 30.10.2021
PLACE: NOIDA
REGISTERED OFFICE:
2ND FLOOR, MANEK PLAZA, KALINA CST ROAD,
KOLEKALYAN, SANTACRUZ (E) MUMBAI- 400098.
WEBSITE: www.ebixcash.com

8
NOTES:
Considering the ongoing Covid – 19 pandemic, the Ministry of Corporate Affairs (“MCA”) has, vide its Circular no. 02/2021 dated January
13, 2021 read together with circulars no. 14/2020 dated April 08, 2020, MCA Circular no. 17/2020 dated April 13, 2020 and Circular no.
20/2020 dated May 05, 2020 (collectively referred to as “MCA Circulars”), permitted convening the Annual General Meeting (“AGM” /
“Meeting”) through Video Conferencing (“VC”) or Other Audio Visual Means (“OAVM”), without physical presence of the members at a
common venue. In accordance with the MCA Circulars, provisions of the Companies Act, 2013 (”the Act”), the AGM of the Company is
being held through VC / OAVM.
Electronic copies of this Notice and financial statements (including Boards report, Auditors report and other Annexures forming part of
Boards report) has been sent to all the members whose e-mail IDs are available with the Company/Depository Participant.
Members who have still not registered their E-mail ID or willing to update their existing E-mail ID are requested to get the same
registered/updated by sending the requisite details (Name, folio number, number of shares etc.) of their shareholding through email on
rahul.chopra@ebixcash.com
The voting at the meeting will be conducted through show of hands, unless a demand for poll is made by any member in accordance with
section 109 of Companies Act, 2013. Once such demand is made then all the members attending the meeting will be required to convey their
vote, during the meeting, by sending an email, mentioning their assent/dissent on rahul.chopra@ebixcash.com which is the designated email
id of the Company for this purpose.
As the AGM will be held through VC/OAVM where the physical attendance of the members is dispensed with, the facility of appointment of
proxies by members will not be available for the Meeting.
Corporate Members intending to authorize their representatives to attend the meeting through VC/OAVM are requested to send to the
Company on their email id rahul.chopra@ebixcash.com , a certified copy of the Board resolution authorizing such a representative to attend
and vote on their behalf at the meeting.
As the AGM of the Company is held through VC/OAVM, we therefore request the members to submit questions in advance relating to the
business specified in the Notice on the Email ID rahul.chopra@ebixcash.com
All relevant documents referred in the Notice shall be available for inspection through electronic mode, up to the date of AGM.
Register of Directors and Key Managerial Personnel and their shareholding maintained under Section 170 of Companies Act, 2013, Register
of members, Register of Share Transfer, etc maintained as per Companies Act, 2013 will be available for inspection by the members at the
Annual General Meeting through electronic mode.
Since the AGM will be held through VC/OAVM, the Route Map is not annexed in this Notice.
Procedure for attending the AGM through Video Conferencing:
Members are requested to download the Cisco Webex Meetings app to attend the AGM through Video Conferencing by clicking on the link
mentioned in the email.
The aforesaid link for joining the meeting through VC shall be active for participation on the date of the AGM i.e. December 06, 2021 from
02:45 P.M. (IST) till 03:00 P.M. (IST). The link will be disabled for participation after the said time of 03:15 P.M. (IST).
Members attending the meeting through Video Conferencing shall be counted for the purpose of reckoning the quorum under section 103 of
the Companies Act, 2013.
Members who need assistance before or during the meeting, can contact on the following numbers +91 70452 83249.
By order of the Board of Directors
FOR EBIX PAYMENT SERVICES PRIVATE LIMITED
RAHUL CHOPRA

9
COMPANY SECRETARY
M. No. A41826
Place: Noida
BOARD’S REPORT
Dear Members,
Your Directors have pleasure in presenting their Fifteenth Annual Report on the business and operations of the Company along with the
audited accounts for the Financial Year ended March 31, 2021.
REVIEW OF OPERATIONS - FINANCIAL SUMMARY
During the year under review the company has generated profit of Rs. 745.66 lakhs as compared to loss of Rs. 357.45 Lakh in the FY
2019-20. The company is continuously exploring strategic opportunities in the payment industry in India to ensure sustainable and profitable
growth in the coming years.
The summarized financial results for the Financial Year ended 31st March, 2021 are as under:
Figures in INR Lakhs
Particulars 2020-21 2019-20
Total Income 3,16,587.90 36,966.04
Total Expenses 3,15,593.17 37,402.19
Profit / (Loss) before Tax 994.73 (436.15)
Less: Current Tax 0.00 0.00
Deferred Tax 249.07 (78.70)
Profit / (Loss) after Tax 745.66 (357.45)
THE STATE OF THE COMPANY’S AFFAIRS/THE CHANGE IN THE NATURE OF BUSINESS, IF ANY AFFECTING THE
FINANCIAL POSITION OF THE COMPANY:
Ebix Payment Services Private Limited (the ‘Company’) is a private limited company incorporated under the provisions of the Companies
Act, 1956 having its current registered office is at 2nd floor, Manek Plaza, Kalina CST Road, Kolekalyan, Santacruz (E), Mumbai -400098.
The Company is engaged in the business of providing payment solutions to customers through prepaid instruments, general purpose
reloadable cards, gift cards etc. and facilitating distribution of gift and prepaid cards. The Company also facilitates utility and other bill
payment and domestic money transfer services. During the financial year 31st March, 2021, there were no changes in the nature of the
business activities of the Company.
RESERVES
The Board of Directors of your company has decided to transfer Rs. 745.66 Lakhs to Reserves for the year under review.
WEB LINK OF ANNUAL RETURN
Pursuant to the amendments to Section 134(3)(a) and Section 92(3) of the Act read with Rule 12 of the Companies (Management and
Administration) Rules, 2014, the Annual Return (Form MGT-7) for the financial year ended March 31, 2021, is available on the Company’s
website and can be accessed at https://www.ebixcash.com/static/Common/pdf/annual_return_2021.pdf

10
DIVIDEND
The Board of Directors of your company, after considering holistically the relevant circumstances, has decided that it would be prudent, not
to recommend any Dividend for the year under review.
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONALS
Five Board Meetings i.e. on 30th July 2020, 27th August 2020, 29th October 2020, 09th November 2020 and 08th January, 2021 respectively
were held during the Financial Year 2020–21 under review.
Mr. Graham John Prior, Director of the Company has resigned w.e.f. July 30, 2020
Mr. Neil David Eckert, Director of the Company has resigned on w.e.f. July 30, 2020
MEETINGS OF THE MEMBERS OF THE COMPANY
During the Year Annual General Meeting of the Company was held on December 22, 2020.
VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES
The Company has a whistle blower policy to report genuine concerns or grievances. The Whistle Blower policy has been posted on the
website of the Company (www.ebixcash.com).
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE
There was no significant and material order passed by the Regulators or courts or Tribunals impacting the going concern status and
company’s Operations in future.
SUBSIDIARY/JOINT VENTURE /ASSOCIATE & PERFORMANCE AND FINANCIAL POSITION
ItzCash Payment Solutions Limited was the company’s wholly Owned Subsidiary incorporated on 27th March, 2014 which has not started its
business accordingly form STK-2 was filed in the year 2019.
REGULATORY UPDATES - EVOLUTIONARY AND ENCOURAGING CHANGES
During the fiscal year 2020-21 The Reserve Bank of India has provided various updates and introduced several concepts aimed at growth,
stability, customer acceptance and Compliance.
Sr.No RBI Update Details Link
Date
of
Update
1
Master
Direction on
Issuance and
Operation of
Prepaid
Payment
Instruments
(Updated as on
November 17,
2020)
Master direction was updated – include that PPI issuers can have additional escrow account
with a different commercial bank
Reserve
Bank of
India -
Master
Directions
(rbi.org.in)
17
Nov
2020
Offline Retail
Payments using
Reserve
Bank of
06

11
2 Cards / Wallets
/ Mobile
Devices – Pilot
pilot scheme for small value payments in offline mode India -
Notifications
(rbi.org.in)
Aug
2020
3
Online Dispute
Resolution
(ODR) System
for Digital
Payments
Reserve Bank of India announced introduction of Online Dispute Resolution (ODR) system
for resolving customer disputes and grievances pertaining to digital payments, using a
system-driven and rule-based mechanism with zero or minimal manual intervention.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
06
Aug
2020
4
Framework for
authorisation of
pan-India
Umbrella Entity
for Retail
Payments
To set-up pan-India umbrella entity / entities focussing on retail payment systems.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
18
Aug
2020
5
Implementation
of Section 51A
of UAPA,
1967: Updates
to UNSC’s
Democratic
Republic of
Congo List
As per the instructions from the Ministry of Home Affairs (MHA), any request for delisting
received by any bank, stock exchanges/ depositories, intermediaries regulated by SEBI and
Insurance companies is to be forwarded electronically to Joint Secretary (CTCR), MHA for
consideration. Individuals, groups, undertakings or entities seeking to be removed from the
Security Council’s Democratic Republic of Congo Sanctions List can submit their request for
delisting to an independent and impartial Ombudsperson who has been appointed by the
United Nations Secretary-General. More details are available at the following URL:
https://www.un.org/securitycouncil/ombudsperson/application
Reserve
Bank of
India -
Notifications
(rbi.org.in)
21
Aug
2020
6
Implementation
of Section 51A
of UAPA, 1967
- Updates to
UNSC’s
1267/1989 ISIL
(Da'esh) &
Al-Qaida
Sanctions List -
Amendment to
11 entries (10
Individuals and
one entry in
Entities and
Groups)
Note SC/14299 dated 10 September 2020 amending available information relating to 11
entries (10 individuals and one entity/group) in UNSC’s 1267/1989 ISIL (Da'esh) & Al-Qaida
Sanctions List
Reserve
Bank of
India -
Notifications
(rbi.org.in)
11 Sep
2020
7
Implementation
of Section 51A
of UAPA,
1967: Updates
to UNSC’s
1267/ 1989
ISIL (Da'esh) &
Al-Qaida
Sanctions List –
Addition of one
entry
Note SC/14321 dated 8 October 2020 adding one entry to list of individuals in UNSC’s 1267/
1989 ISIL (Da'esh) & Al-Qaida Sanctions List viz.[QDi.428 Name: 1: JAMAL 2: HUSSEIN
3: HASSAN 4: ZEINIYE]
Reserve
Bank of
India -
Notifications
(rbi.org.in)
09 Oct
2020
8
Framework for
Recognition of
a
Self-Regulatory
Organisation
for Payment
System
Operators
As the payment ecosystem matures and the number of payments systems proliferate, it
becomes necessary, in the interest of optimal use of regulatory resources, that the payments
industry develops standards in respect of system security, pricing practices, customer
protection measures, grievance redressal mechanisms, etc. While self-regulation would release
regulatory resources that can be better focused on issues of systemic importance, it would, by
virtue of being developed by the industry itself, be more appropriate and encourage better
compliance. As the industry is forced to think in terms of developing systems that conform to
best international practices, it would enhance global competitiveness.
It has, therefore, been decided to encourage the establishment of a Self-Regulatory
Organisation (SRO) for Payment Systems Operators (PSOs).
Reserve
Bank of
India -
Notifications
(rbi.org.in)
22 Oct
2020
Digital
Payment

12
9
Transactions –
measures for moving towards interoperable QR Codes
Reserve
Bank of
India -
Notifications
(rbi.org.in)
22 Oct
2020

13
Streamlining
QR Code
infrastructure
10
Card
transactions in
Contactless
mode -
Relaxation in
requirement of
Additional
Factor of
Authentication
per transaction limit for AFA relaxation for contactless card transactions will be increased to
5,000/-.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
04 Dec
2020
11
Perpetual
Validity for
Certificate of
Authorisation
(CoA) issued to
Payment
System
Operators
(PSOs) under
Payment and
Settlement
Systems Act,
2007 (PSS Act)
For existing authorised PSOs, grant of perpetual validity shall be examined as and when the
CoA becomes due for renewal
Reserve
Bank of
India -
Notifications
(rbi.org.in)
04 Dec
2020
12
Authorisation
of entities for
operating a
Payment
System under
the Payment
and Settlement
Systems Act,
2007 (PSS Act)
– Introduction
of Cooling
Period
Cooling Period shall be for one year from the date of revocation / non-renewal / acceptance of
voluntary surrender / rejection of application,
Reserve
Bank of
India -
Notifications
(rbi.org.in)
04 Dec
2020
13
Processing of
e-mandates for
recurring
transactions
relaxation in Additional Factor of Authentication (AFA) was permitted while processing
e-mandates / standing instructions on cards and Prepaid Payment Instruments (PPIs) for
recurring transactions with values up to 2,000/-, increased to 5,000/-
Reserve
Bank of
India -
Notifications
(rbi.org.in)
04 Dec
2020
14
Amendment to
Master
Direction (MD)
on KYC –
Centralized
KYC Registry
– Roll out of
Legal Entity
Template &
other changes
As the CKYCR is now fully operational for individual customers, it has been decided to
extend the CKYCR to Legal Entities (LEs). Accordingly, REs shall upload the KYC data
pertaining to accounts of LEs opened on or after April 1, 2021, on to CKYCR in terms of Rule
9 (1A) of the PML Rules.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
18 Dec
2020
Implementation
of United
Nations
Security
Council
Resolution
(UNSCR) -
1518 (2003)
Sanctions
Committee List

14
15
– Updated
UNSCR 1518
list and
Removal of
Two
UNSC Committee established pursuant to resolution 1518 (2003) has approved the removal of
the following individuals from its List of Individuals and Entities subject to the assets freeze
set out by paragraphs 19 and 23 of Security Council resolution 1483 (2003) adopted under
Chapter VII of the Charter of the United Nations.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
25 Jan
2021

15
Individuals
from the
Sanctions List
16
Implementation
of Section 51A
of UAPA,
1967: Updates
to UNSC’s
1267/ 1989
ISIL (Da'esh) &
Al-Qaida
Sanctions List –
Deletion of two
entries
Note SC/14440 dated 19 February 2021 deleting two entries to list of individuals in UNSC’s
1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List viz. [QDi.138 Name: 1: SAID 2: BEN
ABDELHAKIM 3: BEN OMAR 4: AL-CHERIF ] and [QDi.362 Name: 1: EMRAH 2:
ERDOGAN 3: na 4: na]
Reserve
Bank of
India -
Notifications
(rbi.org.in)
22 Feb
2021
17
Implementation
of Section 51A
of UAPA,
1967: Updates
to UNSC’s
1267/ 1989
ISIL (Da'esh) &
Al-Qaida
Sanctions List –
Amendment of
92 entries
Note SC/14446 dated 23 February 2021 regarding amendment of ninety two entries[1.
QDi.006, 2. QDi.012, 3. QDi.015, 4. QDi.029, 5. QDi.057, 6. QDi.126, 7. QDi.135, 8.
QDi.141, 9. QDi.150, 10. QDi.154, 11. QDi.155, 12. QDi.184, 13. QDi.208, 14. QDi.217, 15.
QDi.219, 16. QDi.222, 17. QDi.223, 18. QDi.226, 19. QDi.244, 20. QDi.251, 21. QDi.268,
22. QDi.282, 23. QDi.292, 24. QDi.293, 25. QDi.295, 26. QDi.299, 27. QDi.296, 28.
35. QDi.348, 36. QDi.349, 37. QDi.350, 38. QDi.355, 39. QDi.356, 40. QDi.357, 41.
48. QDi.368, 49. QDi.371, 50. QDi.372, 51. QDi.336, 52. QDi.377, 53. QDe.001, 54.
QDe.002, 55. QDe.003, 56. QDe.004, 57. QDe.006, 58. QDe.007, 59. QDe.008, 60. QDe.010,
61. QDe.011, 62. QDe.012, 63. QDe.014, 64. QDe.019, 65. QDe.021, 66. QDe.070, 67.
74. QDe.104, 75. QDe.106, 76. QDe.108, 77. QDe.109, 78. QDe.110, 79. QDe.111, 80.
87. QDe.130, 88. QDe.131, 89. QDe.132, 90. QDe.147, 91. QDe.148, 92. QDe.151]
Reserve
Bank of
India -
Notifications
(rbi.org.in)
24 Feb
2021
18
Amendment to
Master
Direction (MD)
on KYC –
Procedure for
Implementation
of Section 51A
of the Unlawful
Activities
(Prevention)
Act, 1967
Procedure laid down in the Unlawful Activities (Prevention) Act, 1967, (UAPA) Order dated
March 14, 2019, as provided in the Annex-II to the Master Direction, shall be strictly followed
and meticulous compliance with the order issued by the Government shall be ensured.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
23
Mar
2021
19
Implementation
of Section 51A
of UAPA,
1967: Updates
to UNSC’s
1267/ 1989
ISIL (Da'esh) &
Al-Qaida
Sanctions List –
Amendment of
8 entries
Note SC/14473 dated 23 March 2021 regarding amendment of 8 individuals in UNSC’s 1267/
1989 ISIL (Da'esh) & Al-Qaida Sanctions List viz. [QDi.253 Name: 1: KHALIFA 2:
MUHAMMAD 3: TURKI 4: AL-SUBAIY, QDi.326 Name: 1: HAMID 2: HAMAD 3:
HAMID 4: AL-‘ALI, QDi.334 Name: 1: ‘ABD AL-RAHMAN 2: BIN ‘UMAYR 3:
AL-NU’AYMI 4: na, QDi.343 Name: 1: ASHRAF 2: MUHAMMAD 3: YUSUF 4:
'UTHMAN 'ABD AL-SALAM, QDi.344 Name: 1: IBRAHIM 2: 'ISA HAJJI 3:
MUHAMMAD 4: AL-BAKR, QDi.346 Name: 1: 'ABD AL-MALIK 2: MUHAMMAD 3:
YUSUF 4: 'UTHMAN 'ABD AL-SALAM, QDi.380 Name: 1: ABD AL-LATIF 2: BIN
ABDALLAH 3: SALIH MUHAMMAD 4: AL-KAWARI and QDi.382 Name: 1: SA'D 2:
BIN SA'D 3: MUHAMMAD SHARIYAN 4: AL-KA'BI]
Reserve
Bank of
India -
Notifications
(rbi.org.in)
24
Mar
2021
20
Guidelines on
Regulation of
Payment
Aggregators
and Payment
Gateways
Accordingly, neither the authorised Payment Aggregators (PAs) nor the merchants on-boarded
by them can store customer card credentials within their database or server.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
31
March
2021
21
Framework for
processing of
e-mandates for
recurring online
transactions
framework for registering e-mandates for recurring online transactions using cards / wallets /
Unified Payments Interface was put in place. The framework had ensured that changing
payment needs of customers were accommodated by adequately balancing safety, security and
convenience of such transactions.
Reserve
Bank of
India -
Notifications
(rbi.org.in)
31
March
2021
DEPOSITS

16
The Company has not accepted any deposits, within the meaning of Section 73 of the Companies Act, 2013, read with the Companies
(Acceptance of Deposits) Rules, 2014.
STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY
The Board of Directors has formed Risk & Compliance Committee which has been entrusted with the responsibility to assist the Board in (a)
overseeing and approving the Company’s enterprise wide risk management framework; and (b) identifying and assessing that all the risks
that the organization faces such as strategic, financial, credit, market, liquidity, security, property, IT, legal, regulatory, reputational and other
risks and to ensure that there is an adequate risk management infrastructure in place capable of addressing those risks. The Risk Management
Policy was reviewed and approved by the Committee. The Company manages, monitors and reports on the principal risks and uncertainties
that can impact its ability to achieve its strategic objectives. The Company’s management systems, organisational structures, processes,
standards, code of conduct and behaviours together form the Management System that governs how the Company conducts the business and
manages associated risks.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY FROM THE END OF
THE FINANCIAL YEAR AND UPTO DATE OF BOARD REPORT
There were no, material changes and commitments affecting the financial position of the Company occurred between the end of the financial
year to which this financial statement relates.
STATUTORY AUDITORS
M/s T. R. Chadha & Co LLP, Chartered Accountants, firm registration no. 006711N/N500028 was appointed as Statutory Auditors of the
Company for a term of 5 years starting from 2017-18 till 2021-22 in the Annual General Meeting held on July 10, 2017.
Further, In the FY 2021-22 M/s T. R. Chadha & Co LLP, Chartered Accountants, resigned as Statutory Auditors of the Company on 05th
May, 2021.
To fill the Casual Vacancy caused by resignation of M/s T. R. Chadha & Co LLP, Chartered Accountants (Firm Registration No.
06711N/N500028), M/s Walker Chandiok & Co LLP Chartered Accountants (Firm Registration No. 001076N/N500013) and M/s. K. G.
Somani & Co. LLP, Chartered Accountants (Firm Registration No. 006591N/N500377) were appointed as Joint Statutory Auditors in the
Extra-Ordinary General Meeting held on 14th June, 2021 and they shall hold office up to the conclusion of the upcoming Annual General
Meeting and shall conduct the Statutory Audit for the financial year ended on 31 March, 2021.
Further the board of Directors of the Company has recommended the appointments of M/s Walker Chandiok & Co LLP Chartered
Accountants (Firm Registration No. 001076N/N500013) and M/s. K. G. Somani & Co. LLP, Chartered Accountants (Firm Registration No.
006591N/N500377) as Joint Statutory Auditors for a period of 5 years from conclusion of this 15th Annual General Meeting till the
Conclusion of 20th Annual General Meeting to be held for the financial year 2025-2026 subject to the approval of members of the company
in this forthcoming Annual General Meeting.
Further, the Auditors have confirmed that, their appointment, if made, would be in accordance with the Section 139 of the Companies Act,
2013 and the rules made thereunder and that they are not disqualified in terms of Section 141 of the Act.
AUDITORS’ REPORT
The Auditors’ Report on the financial statements of the Company for the period starting from April 1, 2020 to March 31, 2021 does not
contain any reservation, qualification, adverse remarks or disclaimer.
DETAILS OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH
ARE REPORTABLE TO THE CENTRAL GOVERNMENT
During the period April 1, 2020 to March 31, 2021, no frauds reported to have been occurred, requiring reporting under sub-section 12 of
section 143 of the Companies Act, 2013.
COST RECORDS
The Company is not required to maintain cost records as per sub-section (1) of Section 148 of the Companies Act, 2013.

17
SHARE CAPITAL
The Authorised Share Capital of the Company as at 31st March, 2021 stood at Rs. 75,00,00,000.
The paid up Equity Share Capital as at March 31, 2021 stood at Rs. 16,87,71,370. During the year under review, there is no Change in the
Share Capital of the Company.
TRANSFER OF SHARES
During the year company has not recorded any transfer of Shares.
DISCLOSURE ON PURCHASE BY COMPANY OR GIVING OF LOANS BY IT FOR PURCHASE OF ITS SHARES
Pursuant to Section 67 of Companies Act 2013, your Directors declare that Company has neither bought back any of its shares nor has given
loan to employees to enable them to purchase shares of the company
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
Pursuant to the provision of section 186 of the Companies Act, 2013 the particulars of loans, guarantees and investment have been disclosed
in the financial statements.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The contracts or arrangements or transactions with related parties during the year under review were in ordinary course of business and on
arm’s length basis. Accordingly, the disclosure of related party transactions as required under section 134(3)(h) of the Companies Act, 2013
in form AOC-2 is not applicable. None of the transactions with any of the related parties were in conflict with Company’s interest.
The details of the related party transaction during the year are mentioned in note. 41 of the notes to the financial statements for the year
ended March 31, 2021 annexed hereto.
MANAGERIAL REMUNERATION
The provisions of Section 197 read with Schedule V of the Companies Act 2013 with respect to Managerial Remuneration are not applicable
for Private Limited Company.
INTERNAL FINANCIAL CONTROLS:
During the period under review the company has maintained a sufficient Internal Control and care in respect of adequacy of internal financial
controls with reference to the financial statements commensurate with its size and nature of business.
COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS (SS) ISSUED BY THE INSTITUTE OF COMPANY SECRETARIES
OF INDIA
The Company has complied with the applicable Secretarial Standards as required under Section 118(10) of the Companies Act, 2013.
STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUB-SECTION (6) OF SECTION 149
Not applicable
SECRETARIAL AUDIT
During the period under review the Company is not covered under the criteria of applicability of Secretarial Audit pursuant to the provision
of section 204 of the Companies Act, 2013.

18
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR)
The Corporate Social Responsibility (CSR) Committee of the Company was constituted on 10th July, 2018 by the Board of Directors of the
Company which was comprises Mr. Robin Raina as the Chairman and Mr. Vikas Verma and Mr. Satya Bushan Kotru as the Members of the
Committee. During the year no changes took place in the composition of the Committee.
The role of CSR Committee includes formulating and recommending to the Board the CSR Policy and activities to be undertaken by the
Company, recommending the amount of expenditure to be incurred on CSR activities of the Company, reviewing the performance of
Company in the area of CSR.
During the financial year ended 31st March, 2021, Meeting of the Corporate Social Responsibility Committee was held on February 02,
2021.
DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY
INITIATIVES
The Corporate Social Responsibility Committee had formulated and recommended to the Board, a Corporate Social Responsibility Policy
(“CSR Policy”) which was subsequently adopted by it and is being implemented by the Company. The CSR Policy including a brief
overview of the projects or programs proposed to be undertaken is attached as Annexure-I.
CORPORATE SOCIAL RESPONSIBILITY / CSR EXPENDITURE
The Committee, inter alia, will monitor the CSR activities. The amount equal to 2% of the average net profit for the past three financial years
required to be spent on CSR activities.
The Average Profit for the last three years was Rs. 448.14 Lakhs and 2% of the Average Net Profit was Rs. 8.96 Lakhs. The Company has
transferred Rs. 8.96 Lakhs to the PM Cares Fund pursuant to Section 135 (5) of the Companies Act and rules made thereunder.
The Annual Report on CSR is enclosed as Annexure – II.
CONSOLIDATED FINANCIAL STATEMENTS
Not Applicable.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
The Company has been employing women employees in various cadres within its office. The Company has in place a policy against Sexual
Harassment in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013. All employees are covered under the policy. There was no compliant received from any employee during the financial year 2020-21
and hence no complaint is outstanding as on 31.03.2021 for redressal.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo pursuant to Section 134(3) (m)
of the Companies Act, 2013, read with the Rule 8(3) of the Companies (Accounts) Rules, 2014 is given in herein.
Conservation of Energy : Not applicable
Technology Absorption : Not applicable
Foreign Exchange Earnings : Nil
Foreign Exchange Outgo : Nil
DIRECTORS’ RESPONSIBILITY STATEMENT

19
The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your directors
state that:
in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to
material departures;
the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the
company for that period;
the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of
this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
the directors had prepared the annual accounts on a going concern basis; and
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.
ACKNOWLEDGEMENTS
The Board wishes to place on record its appreciation to the patronage and cooperation received from all the stakeholders. The Board also
likes to place on record the valuable guidance and excellent support extended by the Reserve Bank of India (proactive), other regulatory
agencies. The Board of Directors appreciates the commendable service of the employees at all levels.
For and on behalf of the Board of Directors
Ebix Payment Services Private Limited
Place: Noida
Date: 30.10.2021
Vikas Verma Satya Bushan Kotru
Director Director
DIN: 03511116 DIN:01729176
ANNEXURE – I
EBIX PAYMENT SERVICES PVT LTD
(FORMERLY KNOWN AS ITZ CASH CARD PVT LTD)
Corporate Social Responsibility Policy
BACKGROUND:
Corporate Social Responsibility ("CSR") is a concept whereby corporate entities integrate social and environmental concerns in their
business operations and in their interaction with their stakeholders on a voluntary basis. It is a very well known fact that a corporate entity
cannot exist in isolation. A business enterprise cannot be oblivious to societal and environmental development. The corporate entities are
empowered and possess great potential to significantly influence the surroundings in which it operates. The main purpose of an entity must
be beyond creating wealth i.e, towards attaining sustainable development and to create stakeholder value. CSR is the continuing commitment
by the Company to behave ethically and contribute to the economic development while improving the quality of life of the workforce and
their families as well as of the local community and the society at large.

20
OUR CSR VISION:
In this era of Globalisation, liberalization and advances in communication technology, there is an alarming increase in the awareness of the
CSR throughout the World. We firmly believe that if we want a better, safer, cleaner and healthy environment then we must take an
initiative, first step to begin our journey towards striking a balance between the societal needs, economic development and eco-friendly
environment through various CSR activities.
Every individual has inter alia the Right to Life, Right to live with dignity, Right to education, Right to clean and healthy environment which
are engraved in the Constitution of India. The responsibility is cast upon the Government to ensure that these Rights are protected and are not
exploited. We realize that this responsibility must be shared by each and every individual, especially by corporate entities to eradicate
hunger, poverty, upliftment of the downtrodden society, provide education and protect the environment. We will strive to emerge as one of
the best Corporate Citizens.
CSR MISSION STATEMENT
Create a meaningful and lasting impact on the communities in Mumbai, Maharashtra by helping them transcend barriers of socio-economic
development.
Promoting preventive healthcare, sanitation, making available safe drinking water and preventing malnutrition in the community.
To empower peoples in terms of education, co-operative financing, legal and social support to fight exploitation.
Construct houses for community living below poverty line in Slums & in Rural Areas.
Provide community support like free education, food, clothing, toys, medical care, picnics, and extra-curricular activities in addition to
quality education to the children’s of the weaker sections.
Develop the skills of the youth through high quality education and research in educational services and to seek sources employment.
Finding sustainable solutions for natural resources, reducing adverse impacts on environment, reducing environment-risky
pollutants/emissions as well as producing environment-friendly goods.
At the entrepreneurship development level, promotion of small entrepreneurs in the field of IT/Solar/Telecom etc in the rural areas.
Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government or the State Governments for
socioeconomic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes,
minorities and women.
Contribution to any other Fund of any registered trust or a registered society or a company established by the company or its holding or
subsidiary or associate company under section 8 of the Act for the programs to be undertaken under CSR activities.
Social business projects as may be prescribed.
CSR OBJECTIVES
The Company will undertake social projects in designated communities, in a focused manner, for maximum positive impact
In consultation with the local community, the Company will design and effectively implement projects in areas such as healthcare,
community development, education and skills development
Make quality healthcare accessible and affordable for the underprivileged either directly or through designated intermediary vehicle.
Develop and implement the education, water and sanitation, infrastructure development and elderly care projects for sustainable
socio-economic development in the designated communities.

21
Develop the skills of the youth by setting up educational institutions, improving infrastructure of the existing institutes, providing schools for
students and promoting research in the educational services sector.
Promote Solar awareness programs through various promotional, developmental and livelihood initiatives.
To contribute towards the creation of an enterprise culture in our society.
Validity of CSR Policy
The Board may amend the CSR policy as may be required from time to time.
CSR Programme Areas
The Company will focus primarily on the following programmes:
Community Development
The Company aims to create a meaningful and lasting impact on the communities proximate under-served areas by helping them transcend
the barriers of socio-economic development.
A Model of Integrated Service will be established to improve the life of communities living in slum areas:
Sanitation and hygiene
Preventing malnutrition in designated communities
Promotion of healthy lifestyles
Access to drinking Water, clean environment.
Developing infrastructure facilities like homes.
Elderly care
Education to children and women
The programme will bridge the gap by uniting the Governmental Efforts with the Industry and Peoples Participation.
Healthcare
The Company intends to touch the lives of the people by reaching out to people from every walk of life to help them stay healthy and
educated. The objective is to promote education and wellness and not treatment.
In line with this, under its CSR focus, the company will aim to promote health and education of the children’s living in slum areas. The
Company will perform the following activities:
Promote public healthcare activities including preventive and promotive healthcare through medical treatment & awareness campaigns on
basic healthcare.
The Company will not spend any amount directly on healthcare activities, whatever CSR expenditures will be made on Healthcare activities
as stated above, shall be made through any permitted vehicle as specified under Companies Act, 2013 and related rules issued thereon.
Education and Skills Development

22
To work on several educational initiatives to provide quality education, training, skill enhancement for improving the quality of living and
livelihood. Initiatives are aimed at:
Promoting primary and secondary education
Enabling higher education through merit cum means scholarships, including for differently abled across the country.
Using sports as a tool for development of students in both urban and rural settings.
Promoting higher education including setting up and supporting universities
Skill development and vocational training
Environment
To enable enhanced livelihood and quality of life, promote environment sustainability through various initiatives for:
Ecological sustainability
Promoting biodiversity
Conservation of natural resources
Maintaining quality of soil, air and water
Promoting renewable energy
Developing gardens and river fronts
Entrepreneurship
Company aims to hold entrepreneurship workshops by tie up with financial institutions to provide training, create financial and business
templates, to link the entrepreneurs to the first generation entrepreneurs and to provide them the required Information.
Socio Economic Development
Company intends to contribute funds towards socio economic development of SC, ST, minorities and women.
Other Initiatives
To undertake other need based initiatives in compliance with Schedule VII of the Companies Act, 2013.
CSR Budget
The Board of Company shall ensure that in each financial year, the Company spends at least 2% of the average net profit made during the
immediate three preceding financial years towards CSR Activities;
In case of any surplus arising out of the CSR Projects the same shall not form part of business profits of the Company;
The Company may collaborate or pool resources with other Companies (its subsidiary companies) to undertake CSR Activities.

23
CSR Implementation
The CSR projects will be implemented in a time-bound manner with clear objectives, plan, targets and robust monitoring and evaluation
mechanisms.
The Company will follow the Direct engagement strategy to undertake the CSR projects thatare aligned to the Policy. This Policy builds on
the learning’s and good practices of the CSR projects initiated by the Company.
The Company will enter into partnerships with the government, not for profit organizations, business partners and communities to create
multiplier effect of its social projects.
The Company has set up dedicated teams for implementation of CSR projects. The mode of implementation will include a combination of
direct implementation and implementation through any trust/society or Section 8 Company.
The Company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society
or a company established under Section 8 of the Act by the company, either singly or along with its holding or subsidiary or associate
company, or along with any other company or holding or subsidiary or associate company of such other company' or otherwise.
In case, such trust, society or company is not established by the company either singly or along with its holding or subsidiary or associate
company, or along with any other Company or holding or subsidiary or associate Company of such other Company, it shall have an
established track record of three years in undertaking similar programs. The Company will select its partners after appropriate due diligence.
The Company will use services of expert agencies, consultancy firms etc. wherever required for carrying out baseline surveys, guidance on
project design and implementation, third-party monitoring and evaluations, impact assessment surveys etc.
The teams responsible for implementing various CSR projects are mentioned in the section on the Governance Structure of the Policy.
The heads of the respective teams managing CSR projects will be authorised to sign Memorandums of Understanding (MOUs)/Agreements
with the implementing partners after taking required approvals.
Roles and responsibilites
The Board
The Board of Directors of the Company will be responsible for:
Approval of the CSR Policy of the Company
Ensuring that the social projects included in the Policy are undertaken by the Company
Ensuring that the Company spends, in every financial year, at least 2% of the average net profits of the Company made during the three
immediately preceding financial years in pursuance of the Policy
Ensuring that the Company gives preference to the local areas around its operations for spending the amount earmarked for CSR projects
Ensuring that it specifies the reasons in its report for not spending the earmarked amount in case the Company fails to spend such amount
Composition of the the CSR committee: The composition of the CSR Committee of the Board is as under.
S. No. Name Designation/Category CSR Committee
1 Mr. Robin Raina Director Chairman
2 Mr. Satya Bushan Kotru Director Member

24
3 Mr. Vikas Verma Director Member
The Board shall have the power to make any change(s) in the constitition of the Committee.
Responsibility of the CSR Committee:
Formulate and recommend the CSR Policy to the Board for approval. The Committee shall indicate the projects to be undertaken by the
Company as specified in Schedule VII
Monitor the Policy from time to time and recommend changes to the Board
Recommend the amount of expenditure to be incurred on CSR projects
Institute a transparent monitoring mechanism for ensuring implementation of the social projects undertaken by the Company.
Other Points related to CSR
A company may also collaborate with other companies for undertaking projects or programs or CSR activities in such a manner that the CSR
committees of respective companies are in a position to report separately on such projects & programs and the monitoring & reporting
mechanism.
Only such CSR activities will be taken into consideration as are undertaken within India.
For and on behalf of the Board
Robin Raina
Chairman
DIN: 00475045
ANNEXURE – II
ANNUAL REPORT ON CSR
A brief outline of the Company’s CSR policy, including overview of projects or programmes proposed to be undertaken and a reference to
the web-link to the CSR policy and projects or programmes.
CSR policy is stated herein below:
- Our aim is to continue commitment by business to contribute to economic development while improving quality of life of workforce and
their families as well as society at large.
- Aims at sustainable development i.e., “development that meets the needs of the present without compromising the ability of future
generations to meet their own needs.”
- Strive for eradication of hunger and poverty, provide education and employment opportunities to the needy and down trodden
Composition of CSR Committee:

25
S. No. Name of Director Designation/ Nature of directorship
Number of
Meetings of CSR
Committee held during the year
Number of meetings of CSR
Committee attended during the year
1 Mr. Robin Raina Chairman – Non executive 1 1
2 Mr. Vikas Verma Member – Non executive 1 1
3 Mr. Satya Bushan Kotru Member – Non executive 1 1
The CSR committee composition, CSR Policy and CSR Projects can be find on website: www.ebixcash.com
Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate
Social responsibility Policy) Rules, 2014, if applicable (attach the report).
NA
Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility Policy)
Rules, 2014 and amount required for set off for the financial year, if any.
NA
Average net profit of the company as per section 135(5) - Rs. 448.14 Lakh.
(a) Two percent of average net profit of the company as per section 135(5) – Rs. 8.96 Lakh
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial years - NIL
(c) Amount required to be set off for the financial year, if any-NIL
(d) Total CSR obligation for the financial year (7a+7b- 7c) - Rs. 8.96 Lakh
(a) Details of CSR spend for the financial year:
Total Amount Spent in
Financial Year
(Amount in lakh)
Amount Unspent
(INR in Lacs)
Total Amount
transferred to Unspent
CSR Account as per
section 135(6).
Amount transferred to any fund specified under Schedule VII
as per second proviso to section 135(5).
Amount Date of transfer Name of the Fund Amount
Date of
transfer
NIL N.A. N.A.
PM
Cares
Fund
8.96
Lakh
25.09.2021
(b) Details of CSR amount spent against ongoing projects for the financial year:
Amount

26
Sr.
No.
Name
of the
project
Item
from
the list
of
activities
in
Schedule
VII to
the
Act.
Local
area
(Yes
/
No)
Location of
the
project
Project
duration
Amount
allocated
for the
project
(in `)
Amount
spent in
the
current
financial
Year (in
`)
transferred
to
Unspent
CSR
Account for
the
project as
per
Section
135(6)
(in `)
Mode of
Implementation
Direct
(Yes/No)
Mode of
Implementation
– Through
Implementing
Agency
State District
Name
CSR
Registration
No.
-----Not
Applicable----
(c) Details of CSR amount spent against other than ongoing projects for the financial year:
Sr.
No
Name of the
project
Item from the
list
of activities in
Schedule VII to
the
Act
Local
area
(Yes
/
No)
Location of the
project.
Amount
spent
for the
project
(Amount in
lakh)
Mode of
Implementation
Direct
(Yes/No)
Mode of
Implementation –
Through Implementing
Agency
State District
Name
CSR
Registration
No.
-----Not
Applicable----
(d)Amount spent in Administrative Overheads: Nil
(e) Amount spent on Impact Assessment, if applicable: Nil
(f) Total amount spent for the Financial Year: Nil
(g) Excess amount for set off, if any: Nil
Sl. No. Particular Amount (in Rs.)
(i) Two percent of average net profit of the company as per section 135(5) 8.96 Lakh
(ii) Total amount spent for the Financial Year 8.96 Lakh
(iii) Excess amount spent for the financial year [(ii)-(i)] -

27
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any -
(v)
Amount available for set off in succeeding financial years
[(iii)-(iv)]
-
(a) Details of Unspent CSR amount for the preceding three financial years:
Sl. No.
Preceding
Financial
Year.
Amount transferred to
Unspent CSR Account under
section 135 (6) (in Rs.)
Amount spent in the
reporting Financial
Year (in Rs.).
Amount transferred to any fund
specified under Schedule VII as per
section 135(6), if any.
Amount remaining to be
spent in succeeding
financial years. (in Rs.)
Name
of the
Fund
Amount
(in Rs).
Date of transfer.
1. 2019-20 - - - - - -
2. 2018-19 - - - - - -
3. 2017-18 - - - - - -
Total - - - - - -
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): NIL
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Sl.
No.
Project
ID.
Name
of the
Project.
Financial Year in
which the project
was comm-enced
Project
duration
Total amount
allocated for the
project (in Rs.).
Amount spent on the
project in the reporting
Financial Year (in Rs).
Cumulative amount spent
at the end of reporting
Financial Year (in Rs.)
Status of the
project –
Comp-leted
/Ongoing
1 - - - - - - - -
Total - - - - - - -
In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the
financial year (asset-wise details).
(a) Date of creation or acquisition of the capital asset(s) - NIL
(b) Amount of CSR spent for creation or acquisition of capital asset. - NIL
(c) Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their address etc. - NIL
(d) Provide details of the capital asset(s) created or acquired (including complete address and location of the capital asset). – NIL
Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5). - NIL
Place: Noida

28
Date: 30.10.2021
Robin Raina Satya Bushan Kotru
Chairman Member
DIN: 00475045 DIN: 01729176
Description of state of companies affair
REVIEW OF OPERATIONS - FINANCIAL SUMMARY During the year under review the company has generated profit of Rs. 745.66
lakhs as compared to loss of Rs. 357.45 Lakh in the FY 2019-20. The company is continuously exploring strategic opportunities in the
payment industry in India to ensure sustainable and profitable growth in the coming years. The summarized financial results for the Financial
Year ended 31st March, 2021 are as under: Figures in INR Lakhs Particulars 2020-21 2019-20 Total Income 3,16,587.90 36,966.04 Total
Expenses 3,15,593.17 37,402.19 Profit / (Loss) before Tax 994.73 (436.15) Less: Current Tax 0.00 0.00 Deferred Tax 249.07 (78.70) Profit /
(Loss) after Tax 745.66 (357.45) THE STATE OF THE COMPANY’S AFFAIRS/THE CHANGE IN THE NATURE OF BUSINESS, IF
ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY: Ebix Payment Services Private Limited (the ‘Company’) is a
private limited company incorporated under the provisions of the Companies Act, 1956 having its current registered office is at 2nd floor,
Manek Plaza, Kalina CST Road, Kolekalyan, Santacruz (E), Mumbai -400098. The Company is engaged in the business of providing
payment solutions to customers through prepaid instruments, general purpose reloadable cards, gift cards etc. and facilitating distribution of
gift and prepaid cards. The Company also facilitates utility and other bill payment and domestic money transfer services. During the financial
year 31st March, 2021, there were no changes in the nature of the business activities of the Company.
Disclosures in director’s responsibility statement
The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your directors
state that: in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation
relating to material departures; the directors had selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial
year and of the profit and loss of the company for that period; the directors had taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities; the directors had prepared the annual accounts on a going concern basis; and 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.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
The contracts or arrangements or transactions with related parties during the year under review were in ordinary course of business and on
arm’s length basis. Accordingly, the disclosure of related party transactions as required under section 134(3)(h) of the Companies Act, 2013
in form AOC-2 is not applicable. None of the transactions with any of the related parties were in conflict with Company’s interest.
The details of the related party transaction during the year are mentioned in note. 41 of the notes to the financial statements for the year
ended March 31, 2021 annexed hereto.
Disclosure of extract of annual return as provided under section 92(3) [Text Block]

29
Details of change in promoters shareholding [Text Block]
Details of shareholding pattern of directors and key managerial personnel [Text Block]
Disclosure of statement on development and implementation of risk management policy [Text Block]
The Board of Directors has formed Risk & Compliance Committee which has been entrusted with the responsibility to assist the Board in (a)
overseeing and approving the Company’s enterprise wide risk management framework; and (b) identifying and assessing that all the risks
that the organization faces such as strategic, financial, credit, market, liquidity, security, property, IT, legal, regulatory, reputational and other
risks and to ensure that there is an adequate risk management infrastructure in place capable of addressing those risks. The Risk Management
Policy was reviewed and approved by the Committee. The Company manages, monitors and reports on the principal risks and uncertainties
that can impact its ability to achieve its strategic objectives. The Company’s management systems, organisational structures, processes,
standards, code of conduct and behaviours together form the Management System that governs how the Company conducts the business and
manages associated risks.

30
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR)
The Corporate Social Responsibility (CSR) Committee of the Company was constituted on 10th July, 2018 by the Board of Directors of the
Company which was comprises Mr. Robin Raina as the Chairman and Mr. Vikas Verma and Mr. Satya Bushan Kotru as the Members of the
Committee. During the year no changes took place in the composition of the Committee.
The role of CSR Committee includes formulating and recommending to the Board the CSR Policy and activities to be undertaken by the
Company, recommending the amount of expenditure to be incurred on CSR activities of the Company, reviewing the performance of
Company in the area of CSR.
During the financial year ended 31st March, 2021, Meeting of the Corporate Social Responsibility Committee was held on February 02,
2021.
DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY
INITIATIVES
The Corporate Social Responsibility Committee had formulated and recommended to the Board, a Corporate Social Responsibility Policy
(“CSR Policy”) which was subsequently adopted by it and is being implemented by the Company. The CSR Policy including a brief
overview of the projects or programs proposed to be undertaken is attached as Annexure-I.
CORPORATE SOCIAL RESPONSIBILITY / CSR EXPENDITURE
The Committee, inter alia, will monitor the CSR activities. The amount equal to 2% of the average net profit for the past three financial years
required to be spent on CSR activities.
The Average Profit for the last three years was Rs. 448.14 Lakhs and 2% of the Average Net Profit was Rs. 8.96 Lakhs. The Company has
transferred Rs. 8.96 Lakhs to the PM Cares Fund pursuant to Section 135 (5) of the Companies Act and rules made thereunder.
Report on highlights on performance of subsidiaries, associates and joint venture companies and their
contribution to overall performance of the companies during the period under report [Text Block]

31
Disclosure of financial summary or highlights [Text Block]
REVIEW OF OPERATIONS - FINANCIAL SUMMARY
During the year under review the company has generated profit of Rs. 745.66 lakhs as compared to loss of Rs. 357.45 Lakh in the FY
2019-20. The company is continuously exploring strategic opportunities in the payment industry in India to ensure sustainable and profitable
growth in the coming years.
The summarized financial results for the Financial Year ended 31st March, 2021 are as under:
Figures in INR Lakhs
Particulars 2020-21 2019-20
Total Income 3,16,587.90 36,966.04
Total Expenses 3,15,593.17 37,402.19
Profit / (Loss) before Tax 994.73 (436.15)
Less: Current Tax 0.00 0.00
Deferred Tax 249.07 (78.70)
Profit / (Loss) after Tax 745.66 (357.45)
THE STATE OF THE COMPANY’S AFFAIRS/THE CHANGE IN THE NATURE OF BUSINESS, IF ANY AFFECTING THE
FINANCIAL POSITION OF THE COMPANY:
Ebix Payment Services Private Limited (the ‘Company’) is a private limited company incorporated under the provisions of the Companies
Act, 1956 having its current registered office is at 2nd floor, Manek Plaza, Kalina CST Road, Kolekalyan, Santacruz (E), Mumbai -400098.
The Company is engaged in the business of providing payment solutions to customers through prepaid instruments, general purpose
reloadable cards, gift cards etc. and facilitating distribution of gift and prepaid cards. The Company also facilitates utility and other bill
payment and domestic money transfer services. During the financial year 31st March, 2021, there were no changes in the nature of the
business activities of the Company.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
During the period under review the company has maintained a sufficient Internal Control and care in respect of adequacy of internal financial
controls with reference to the financial statements commensurate with its size and nature of business.

32
Disclosure of contents of corporate social responsibility policy [Text Block]
EBIX PAYMENT SERVICES PVT LTD
(FORMERLY KNOWN AS ITZ CASH CARD PVT LTD)
Corporate Social Responsibility Policy
BACKGROUND:
Corporate Social Responsibility ("CSR") is a concept whereby corporate entities integrate social and environmental concerns in their
business operations and in their interaction with their stakeholders on a voluntary basis. It is a very well known fact that a corporate entity
cannot exist in isolation. A business enterprise cannot be oblivious to societal and environmental development. The corporate entities are
empowered and possess great potential to significantly influence the surroundings in which it operates. The main purpose of an entity must
be beyond creating wealth i.e, towards attaining sustainable development and to create stakeholder value. CSR is the continuing commitment
by the Company to behave ethically and contribute to the economic development while improving the quality of life of the workforce and
their families as well as of the local community and the society at large.
OUR CSR VISION:
In this era of Globalisation, liberalization and advances in communication technology, there is an alarming increase in the awareness of the
CSR throughout the World. We firmly believe that if we want a better, safer, cleaner and healthy environment then we must take an
initiative, first step to begin our journey towards striking a balance between the societal needs, economic development and eco-friendly
environment through various CSR activities.
Every individual has inter alia the Right to Life, Right to live with dignity, Right to education, Right to clean and healthy environment which
are engraved in the Constitution of India. The responsibility is cast upon the Government to ensure that these Rights are protected and are not
exploited. We realize that this responsibility must be shared by each and every individual, especially by corporate entities to eradicate
hunger, poverty, upliftment of the downtrodden society, provide education and protect the environment. We will strive to emerge as one of
the best Corporate Citizens.
CSR MISSION STATEMENT
Create a meaningful and lasting impact on the communities in Mumbai, Maharashtra by helping them transcend barriers of socio-economic
development.
Promoting preventive healthcare, sanitation, making available safe drinking water and preventing malnutrition in the community.
To empower peoples in terms of education, co-operative financing, legal and social support to fight exploitation.
Construct houses for community living below poverty line in Slums & in Rural Areas.
Provide community support like free education, food, clothing, toys, medical care, picnics, and extra-curricular activities in addition to
quality education to the children’s of the weaker sections.
Develop the skills of the youth through high quality education and research in educational services and to seek sources employment.
Finding sustainable solutions for natural resources, reducing adverse impacts on environment, reducing environment-risky
pollutants/emissions as well as producing environment-friendly goods.
At the entrepreneurship development level, promotion of small entrepreneurs in the field of IT/Solar/Telecom etc in the rural areas.
Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government or the State Governments for
socioeconomic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes,

33
minorities and women.
Contribution to any other Fund of any registered trust or a registered society or a company established by the company or its holding or
subsidiary or associate company under section 8 of the Act for the programs to be undertaken under CSR activities.
Social business projects as may be prescribed.
CSR OBJECTIVES
The Company will undertake social projects in designated communities, in a focused manner, for maximum positive impact
In consultation with the local community, the Company will design and effectively implement projects in areas such as healthcare,
community development, education and skills development
Make quality healthcare accessible and affordable for the underprivileged either directly or through designated intermediary vehicle.
Develop and implement the education, water and sanitation, infrastructure development and elderly care projects for sustainable
socio-economic development in the designated communities.
Develop the skills of the youth by setting up educational institutions, improving infrastructure of the existing institutes, providing schools for
students and promoting research in the educational services sector.
Promote Solar awareness programs through various promotional, developmental and livelihood initiatives.
To contribute towards the creation of an enterprise culture in our society.
Validity of CSR Policy
The Board may amend the CSR policy as may be required from time to time.
CSR Programme Areas
The Company will focus primarily on the following programmes:
Community Development
The Company aims to create a meaningful and lasting impact on the communities proximate under-served areas by helping them transcend
the barriers of socio-economic development.
A Model of Integrated Service will be established to improve the life of communities living in slum areas:
Sanitation and hygiene
Preventing malnutrition in designated communities
Promotion of healthy lifestyles
Access to drinking Water, clean environment.
Developing infrastructure facilities like homes.
Elderly care

34
Education to children and women
The programme will bridge the gap by uniting the Governmental Efforts with the Industry and Peoples Participation.
Healthcare
The Company intends to touch the lives of the people by reaching out to people from every walk of life to help them stay healthy and
educated. The objective is to promote education and wellness and not treatment.
In line with this, under its CSR focus, the company will aim to promote health and education of the children’s living in slum areas. The
Company will perform the following activities:
Promote public healthcare activities including preventive and promotive healthcare through medical treatment & awareness campaigns on
basic healthcare.
The Company will not spend any amount directly on healthcare activities, whatever CSR expenditures will be made on Healthcare activities
as stated above, shall be made through any permitted vehicle as specified under Companies Act, 2013 and related rules issued thereon.
Education and Skills Development
To work on several educational initiatives to provide quality education, training, skill enhancement for improving the quality of living and
livelihood. Initiatives are aimed at:
Promoting primary and secondary education
Enabling higher education through merit cum means scholarships, including for differently abled across the country.
Using sports as a tool for development of students in both urban and rural settings.
Promoting higher education including setting up and supporting universities
Skill development and vocational training
Environment
To enable enhanced livelihood and quality of life, promote environment sustainability through various initiatives for:
Ecological sustainability
Promoting biodiversity
Conservation of natural resources
Maintaining quality of soil, air and water
Promoting renewable energy
Developing gardens and river fronts
Entrepreneurship
Company aims to hold entrepreneurship workshops by tie up with financial institutions to provide training, create financial and business

35
templates, to link the entrepreneurs to the first generation entrepreneurs and to provide them the required Information.
Socio Economic Development
Company intends to contribute funds towards socio economic development of SC, ST, minorities and women.
Other Initiatives
To undertake other need based initiatives in compliance with Schedule VII of the Companies Act, 2013.
CSR Budget
The Board of Company shall ensure that in each financial year, the Company spends at least 2% of the average net profit made during the
immediate three preceding financial years towards CSR Activities;
In case of any surplus arising out of the CSR Projects the same shall not form part of business profits of the Company;
The Company may collaborate or pool resources with other Companies (its subsidiary companies) to undertake CSR Activities.
CSR Implementation
The CSR projects will be implemented in a time-bound manner with clear objectives, plan, targets and robust monitoring and evaluation
mechanisms.
The Company will follow the Direct engagement strategy to undertake the CSR projects thatare aligned to the Policy. This Policy builds on
the learning’s and good practices of the CSR projects initiated by the Company.
The Company will enter into partnerships with the government, not for profit organizations, business partners and communities to create
multiplier effect of its social projects.
The Company has set up dedicated teams for implementation of CSR projects. The mode of implementation will include a combination of
direct implementation and implementation through any trust/society or Section 8 Company.
The Company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society
or a company established under Section 8 of the Act by the company, either singly or along with its holding or subsidiary or associate
company, or along with any other company or holding or subsidiary or associate company of such other company' or otherwise.
In case, such trust, society or company is not established by the company either singly or along with its holding or subsidiary or associate
company, or along with any other Company or holding or subsidiary or associate Company of such other Company, it shall have an
established track record of three years in undertaking similar programs. The Company will select its partners after appropriate due diligence.
The Company will use services of expert agencies, consultancy firms etc. wherever required for carrying out baseline surveys, guidance on
project design and implementation, third-party monitoring and evaluations, impact assessment surveys etc.
The teams responsible for implementing various CSR projects are mentioned in the section on the Governance Structure of the Policy.
The heads of the respective teams managing CSR projects will be authorised to sign Memorandums of Understanding (MOUs)/Agreements
with the implementing partners after taking required approvals.
Roles and responsibilites
The Board
The Board of Directors of the Company will be responsible for:

36
Approval of the CSR Policy of the Company
Ensuring that the social projects included in the Policy are undertaken by the Company
Ensuring that the Company spends, in every financial year, at least 2% of the average net profits of the Company made during the three
immediately preceding financial years in pursuance of the Policy
Ensuring that the Company gives preference to the local areas around its operations for spending the amount earmarked for CSR projects
Ensuring that it specifies the reasons in its report for not spending the earmarked amount in case the Company fails to spend such amount
Composition of the the CSR committee: The composition of the CSR Committee of the Board is as under.
S. No. Name Designation/Category CSR Committee
1 Mr. Robin Raina Director Chairman
2 Mr. Satya Bushan Kotru Director Member
3 Mr. Vikas Verma Director Member
The Board shall have the power to make any change(s) in the constitition of the Committee.
Responsibility of the CSR Committee:
Formulate and recommend the CSR Policy to the Board for approval. The Committee shall indicate the projects to be undertaken by the
Company as specified in Schedule VII
Monitor the Policy from time to time and recommend changes to the Board
Recommend the amount of expenditure to be incurred on CSR projects
Institute a transparent monitoring mechanism for ensuring implementation of the social projects undertaken by the Company.
Other Points related to CSR
A company may also collaborate with other companies for undertaking projects or programs or CSR activities in such a manner that the CSR
committees of respective companies are in a position to report separately on such projects & programs and the monitoring & reporting
mechanism.
Only such CSR activities will be taken into consideration as are undertaken within India.
For and on behalf of the Board
Robin Raina
Chairman
DIN: 00475045

37
ANNEXURE – II
ANNUAL REPORT ON CSR
A brief outline of the Company’s CSR policy, including overview of projects or programmes proposed to be undertaken and a reference to
the web-link to the CSR policy and projects or programmes.
CSR policy is stated herein below:
- Our aim is to continue commitment by business to contribute to economic development while improving quality of life of workforce and
their families as well as society at large.
- Aims at sustainable development i.e., “development that meets the needs of the present without compromising the ability of future
generations to meet their own needs.”
- Strive for eradication of hunger and poverty, provide education and employment opportunities to the needy and down trodden
Composition of CSR Committee:
S. No. Name of Director Designation/ Nature of directorship
Number of
Meetings of CSR
Committee held during the year
Number of meetings of CSR
Committee attended during the year
1 Mr. Robin Raina Chairman – Non executive 1 1
2 Mr. Vikas Verma Member – Non executive 1 1
3 Mr. Satya Bushan Kotru Member – Non executive 1 1
The CSR committee composition, CSR Policy and CSR Projects can be find on website: www.ebixcash.com
Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate
Social responsibility Policy) Rules, 2014, if applicable (attach the report).
NA
Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility Policy)
Rules, 2014 and amount required for set off for the financial year, if any.
NA
Average net profit of the company as per section 135(5) - Rs. 448.14 Lakh.
(a) Two percent of average net profit of the company as per section 135(5) – Rs. 8.96 Lakh
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial years - NIL
(c) Amount required to be set off for the financial year, if any-NIL
(d) Total CSR obligation for the financial year (7a+7b- 7c) - Rs. 8.96 Lakh
(a) Details of CSR spend for the financial year:

38
Total Amount Spent in
Financial Year
(Amount in lakh)
Amount Unspent
(INR in Lacs)
Total Amount
transferred to Unspent
CSR Account as per
section 135(6).
Amount transferred to any fund specified under Schedule VII
as per second proviso to section 135(5).
Amount Date of transfer Name of the Fund Amount
Date of
transfer
NIL N.A. N.A.
PM
Cares
Fund
8.96
Lakh
25.09.2021
(b) Details of CSR amount spent against ongoing projects for the financial year:
Sr.
No.
Name
of the
project
Item
from
the list
of
activities
in
Schedule
VII to
the
Act.
Local
area
(Yes
/
No)
Location of
the
project
Project
duration
Amount
allocated
for the
project
(in `)
Amount
spent in
the
current
financial
Year (in
`)
Amount
transferred
to
Unspent
CSR
Account for
the
project as
per
Section
135(6)
(in `)
Mode of
Implementation
Direct
(Yes/No)
Mode of
Implementation
– Through
Implementing
Agency
State District
Name
CSR
Registration
No.
-----Not
Applicable----
(c) Details of CSR amount spent against other than ongoing projects for the financial year:
Sr.
No
Name of the
project
Item from the
list
of activities in
Schedule VII to
the
Act
Local
area
(Yes
/
No)
Location of the
project.
Amount
spent
for the
project
(Amount in
lakh)
Mode of
Implementation
Direct
(Yes/No)
Mode of
Implementation –
Through Implementing
Agency
State District
Name
CSR
Registration

39
No.
-----Not
Applicable----
(d)Amount spent in Administrative Overheads: Nil
(e) Amount spent on Impact Assessment, if applicable: Nil
(f) Total amount spent for the Financial Year: Nil
(g) Excess amount for set off, if any: Nil
Sl. No. Particular Amount (in Rs.)
(i) Two percent of average net profit of the company as per section 135(5) 8.96 Lakh
(ii) Total amount spent for the Financial Year 8.96 Lakh
(iii) Excess amount spent for the financial year [(ii)-(i)] -
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any -
(v)
Amount available for set off in succeeding financial years
[(iii)-(iv)]
-
(a) Details of Unspent CSR amount for the preceding three financial years:
Sl. No.
Preceding
Financial
Year.
Amount transferred to
Unspent CSR Account under
section 135 (6) (in Rs.)
Amount spent in the
reporting Financial
Year (in Rs.).
Amount transferred to any fund
specified under Schedule VII as per
section 135(6), if any.
Amount remaining to be
spent in succeeding
financial years. (in Rs.)
Name
of the
Fund
Amount
(in Rs).
Date of transfer.
1. 2019-20 - - - - - -
2. 2018-19 - - - - - -
3. 2017-18 - - - - - -
Total - - - - - -
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): NIL
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Sl.
No.
Project
ID.
Name
of the
Project.
Financial Year in
which the project
was comm-enced
Project
duration
Total amount
allocated for the
project (in Rs.).
Amount spent on the
project in the reporting
Financial Year (in Rs).
Cumulative amount spent
at the end of reporting
Financial Year (in Rs.)
Status of the
project –
Comp-leted
/Ongoing
1 - - - - - - - -
Total - - - - - - -

40
In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the
financial year (asset-wise details).
(a) Date of creation or acquisition of the capital asset(s) - NIL
(b) Amount of CSR spent for creation or acquisition of capital asset. - NIL
(c) Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their address etc. - NIL
(d) Provide details of the capital asset(s) created or acquired (including complete address and location of the capital asset). – NIL
Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5). - NIL
Place: Noida
Date: 30.10.2021
Robin Raina Satya Bushan Kotru
Chairman Member
DIN: 00475045 DIN: 01729176
[700500] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)
Directors signing financial statements [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director SATYA Vikas
Middle name of director BUSHAN
Last name of director KOTRU Verma
Designation of director Director Director
Director identification number of director 01729176 03511116
Date of signing of financial statements by director 30/10/2021 30/10/2021
01/04/2020
to
31/03/2021
Name of company secretary
R A H U L
CHOPRA
Permanent account number of company secretary AWPPC2631L
Date of signing of financial statements by company secretary 30/10/2021

Ebix Payment Services Private Limited Fiscal Year End 2021 Financial Statements

Ebix Payment Services Private Limited Fiscal Year End 2021 Financial Statements

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Ebix Payment Services Private Limited Fiscal Year End 2021 Financial Statements