We have certain outstanding litigation against us, an adverse outcome of which may adversely affect our business, reputation and results of operations.

In the past, we have not adhered to certain statutory time lines and have been subjected to penalty. Any such events in future may require the statutory authorities to take action against us in which event we may be drawn into litigation.

One of our Directors and Promoter, Jitendra Narayan Das was disqualified under section 164 of the Companies Act 2013, in the past for being director of M/s. Reverie Technologies Pvt. Ltd., and M/s. Easedata Solutions Pvt. Ltd. which failed to file its Annual returns and Financial statements for a continuous period of 3 years.

Our Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact our growth and business.

In the past, there have been certain discrepancies with respect to the appointment of our statutory auditors. Although we have not been issued with any statutory notice in respect of such discrepancies, by the concerned authority, we are not sure that any such action shall not be taken against us in future and in any such event we may be subjected to penalties.

We are dependent on our ability to develop new services and products and enhance our existing services and products. If our products and services do not gain market acceptance, our operating results may be negatively affected.

Our business is substantially dependent on road projects in India undertaken or awarded by governmental authorities and other entities funded by the Government of India or State Governments and we derive almost all of our revenues from contracts with a limited number of government entities. Any adverse changes in the Central or State Government policies may lead to our contracts being foreclosed, terminated, restructured or renegotiated.

There are certain discrepancies and non-compliances noticed in some of our financial reporting and/or records relating to consolidation of financial statements of our associate company. Although we have not been issued with respect to same in this regard, we are not sure that any penal action shall not be taken against us.

Our failure to perform in accordance with the standards prescribed in work order of our client could result in loss of business or compensation payment.

Our work premises from where we operate is not owned by us.