The company registered office / branch office is not owned and the same is taken on lease. Any termination of such lease/license and/or non- renewal thereof and attachment by property owner could adversely affect its operations.

The Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non-compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact on the financial position of the Company to that extent.

In the past, there have been instances of delays in filings of certain returns which were required to be filed as per the reporting requirements under the Goods & Service Act, 2017 and The Employees' Provident Funds and Miscellaneous Provisions Act, 1952.

Conflict of interest may arise out of common business objects with group companies.

The Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.

Its major revenue is sourced from Banking, Financial Service and Insurance (BFSI) sector clients. The company inability or failures to manage and attract more clients could adversely affect its business.

The Company has issued Phantom Stocks to its employees. Whenever the Phantom stocks are exercised by the employees, it might impact the revenue of the Company.

Significant security breaches in its software, data and network infrastructure and fraud could adversely impact the company business.

The Company has not obtained any intellectual right for its online courses, software's, training modules and other training material.

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