Ad-Manum Finance Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

A provision is recognised when the Company has a present legal or constructive obligation as a result of past events, and it is
probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made.
Provisions (excluding retirement benefits) are discounted to their present value at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability and are determined based on the best estimate
required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect
the current best estimates. The unwinding of the discount is recognised as finance cost.

(1) Possible obligations which will be confirmed only by future events not wholly within the control of the Company or

(2) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of the obligation cannot be made.

Contingent assets are not recognised in the financial statements. However, the same are disclosed in the financial statements
where an inflow of economic benefit is probable.

3.15 Events after reporting date

Events after the reporting period are classified into adjusting and non-adjusting events. Adjusting events provide evidence of
conditions that existed at the end of the reporting period, while non-adjusting events are those that are indicative of conditions
that arose after the reporting period. Adjusting events are reflected in the financial statements; non-adjusting events of material
size or nature are disclosed in the notes

3.16 Exceptional Item

Exceptional items include income or expense that are part of ordinary activities, however, are of such significance and nature that
separate disclosure enables the user of Financial statements to understand the impact in a more meaningful manner Exceptional
items are identified by virtue of either their size or nature so as to facilitate comparison with prior periods and to assess underlying
trends in the financial performance of the Company.

Exceptional items are presented separately in the financial statements and excluded from the computation of EBITDA to enable
better understanding of the Company's normal operating performance.

b) Terms / Rights attached to Equity Shares

The company has only one class of shares i.e. equity shares having a par value of Rs.10/- per share. Each holder of equity
shares is entitled to one vote per share. The company declares and pays dividends, (if any), in Indian rupees. The dividend,
if proposed, by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General
Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the
company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.

Nature and purpose of Reserves:

Securities premium: Securities premium reserve is used to record premium on issue of shares. The reserve is utilised in accordance
with the provisions of the Companies Act, 2013.

Capital Reserve: The Reserve is created based on statutory requirement under the Companies Act, 2013. This is not available for
distribution of dividend but can be utilized for issuing bonus shares.

NBFC Reserves: Every year the Company transfers a of sum of not less than twenty per cent of net profit of that year as disclosed in
the statement of profit and loss to its Statutory Reserve pursuant to Section 45-IC of the RBI Act, 1934.

General Reserves: General reserve is a free reserve and it represents amount transferred from retained earnings.

Retained earnings: Retained earnings comprises of the Company’s undistributed earnings after taxes.

FVOCI equity instrument: The fair value changes of the long term investments in securities have been recognised in reserves under
FVOCI equity instruments as at the date of transition and subsequently in the other comprehensive income for the year.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial
instruments into three levels prescribed under the Ind AS. An explanation for each level is given below.

Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or ndirectly
observable.

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

Notes:

1 There have been no transfer between Level 1, Level 2 and Level 3 during the period March 31, 2025 and March 31, 2024.

2 The management assessed that cash and bank balances, trade receivables, loans, trade payables, borrowings (cash credits,
commercial papers, foreign currency loans, working capital loans) and other financial assets and liabilities approximate their
carrying amounts largely due to the short-term maturities of these instruments.

NOTE - 16 -ADDITIONALNOTES ONACCOUNTS :

15) Employee benefit:

Defined benefit plan:

Gratuity

In respect of Gratuity, a defined benefit plan, contributions are made to LIC’s Recognised Group Gratuity Fund Scheme.

It is governed by the Payment of Gratuity Act, 1972.

Under the Gratuity Act, employees are entitled to specific benefit at the time of retirement or termination of the employment on
completion of five years or death while in employment.

The level of benefit provided depends on the member’s length of service and salary at the time of retirement/ termination age.
Provision for gratuity is based on actuarial valuation done by an independent actuary as at the year end.

Each year, the Company reviews the level of funding in gratuity fund and decides its contribution.

The Company aims to keep annual contributions relatively stable at a level such that the fund assets meets the requirements of
gratuity payments in short to medium term.

Risks Exposures:

Gratuity Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may
vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit which are as follows:

i) Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an
increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability (as
shown in financial statements).

ii) Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts. This may arise due to
non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

iii) Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary increase
rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of
increase in salary used to determine the present value of obligation will have a bearing on the plan’s liabilty.

iv) Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability. The
Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

v) Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as
amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the
maximum limit on gratuity of Rs. 20,00,000).

vi) Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of assets,
exposing the Company to market risk for volatilities/ fall in interest rate.

vii) Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any particular
investment.

NOTE - 23 -ADDITIONALNOTES ONACCOUNTS :

16) Financial risk management objectives and policies to the extent applicable:

The company is a registered NBFC and having has its major exposure to the group companies and therefore the company does
not envisage any market risk, currency risk, interest rate risk, price risk, liquidity risk and credit risk. The Company’s senior
management in consultation with audit committee has the responsibility for establishing and governing the Company’s overall
risk management framework, wherever applicable.

17) Disclosure Pursuant to regulation 54(F) of the SEBI (Listing Obligations & Disclosure Requirements) Regulation 2013.
a Loans and Advances in the nature of Loans to Subsidiary:

There were no such transaction during the year.

b Loans and Advances in the nature of loan to Associates, Related Party and parties where directors/promotors are interested:

c i) The Company has given loan to Agarwal Fuel Corporation Private Limited, which has made investment in the shares
of the Company.

ii) The above advances fall under the category of loans, which are repayable on demand and interest has been charged
on it.

18) Consolidation of Accounts:

Pursuant to the provisions of section 2(6) of the Companies Act, 2013 the Company is an associate of Agarwal Coal Corporation
(S) Pte. Ltd. as the said company holds 36.93% shareholding of the Company, consequently the Company is liable to be consolidated
under Equity method with that Company.

19) In accordance with IND AS - 109 the long-term investments held by the company are to be carried at Cost or Fair Value. All the
investments of the Company have been considered by the management to be of long-term nature.

20) The balances of Trade Receivables, Borrowings and Loans & Advances are subject to respective consent, confirmation,
reconciliation and consequential adjustments, if any.

21) Subsequent events

The Company has evaluated all subsequent events through 10.05.2025, the date on which these financial statements are authorized
for issuance. No adjusting or significant non-adjusting events have occurred between March 31, 2025 and the date of authorization
of these financial statements that would have a material impact on these financial statements or that would warrant additional
disclosures.

22) Details of Benami Property held:

During the year, no proceedings have been initiated or pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

23) Indications of Impairment

In the opinion of management, there are no indications, internal or external which could have the effect of impairing the value of
assets to any material extent as at the Balance sheet date requiring recognition in terms of Ind AS 36.

24) Registration of charges or satisfaction with Registrar of Companies (ROC):

During the year, the charges or satisfaction which were to be registered with ROC (if any) have been done within the statutory
period.

25) Relationship with Struck off Companies:

The Company has no Investment in securities, Receivables, Payables, Share-holding or Other outstanding balances with such
companies.

26) Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023:

The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of
enabling the Reserve Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non¬
Banking Financial Company from being conducted in a manner detrimental to the interest of investors and depositors or in any
manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45K, 45L and 45M
of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring
Regulation Act, 2011 (Act 12 of 2012), had issued to every NBFC, the Master Direction - Reserve Bank of India (Non-Banking
Financial Company - Scale Based Regulation) Directions, 2023 (the Directions) dated 10.11.2023. The Company has an asset size
of less than ¹ 1000 crores and hence is classified in BASE LAYER of Non-Banking Financial Company - Scale Based Regulation
(Directions), 2023.

27) Net Owned Fund Requirement:

In exercise of the powers conferred under clause (b) of sub-section (1) of section 45IA of the RBI Act,1934 and all the powers
enabling it in that behalf, the Reserve Bank, specifies ^ 2 crores as the Net Owned Fund (NOF). The Company has a NOF of
^ 75.24 crores as at 31.03.2025.

28) According to Ind AS - 7 the desired Cash flow statement is enclosed herewith.

29) The Company has no borrowings from banks or financial institutions on the basis of security of current assets with respect to
which, hence the perodical returns or statements of current assets required to be filed by the Company with banks or financial
institutions is not applicable.

30) The company has not received any funds from any person/entities, for the purpose of directly or indirectly lending/investing/
providing guarantee/security to a another person/entity, by or on behalf of the person/entity from whom such amount is received.

31) The company has not advanced/loaned/invested funds to any person/entity for the purpose of directly or indirectly lending/
investing/providing guarantee/security to a third person/entity, by or on behalf of the company.

32) The Companies (Significant Beneficial Owners) Amendment Rules, 2019 lays down the rules and compliances required to be
adhered by the reporting company in India with respect of Significant Beneficial Owners (“SBO”) . All the Significant Beneficial
Owners identified have duly complied with Rules and filed the required BEN FORMS (if any).

33) Previous year figures have been regrouped or rearranged where ever necessary.

34) The figures have been rounded off to the nearest multiple of a rupee in thousands.

As Per our report of even date attached

STATUTORY AUDITORS For and on behalf of the Board of Directors

For : MAHENDRABADJATYA& CO. Sd/_- S_d/_-

^Chart^{ered Accountants} Sanjeev Sharma Dharmendra Agrawal

^ICAI Fum ^Reg^istrati°^{n N}°. : °°^1457C Whole Time Director _{Wole Time Director}

CANIRDESH BADJATYA ^{(DIN: 07839822)} (^{DIN: 08390936)}

Partner Sd/- Sd/-

^{ICAI MNO: 420388} Neha Singh Ronak Sharma

^PLACE : INDOR^E Company Secretary Chief Financial Officer

DATE : 10.05.2025 (PAN: EKSPS2494N) (PAN: KYUPS7284E)

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Mar 31, 2024

11. Provisions, contingent liabilities, and contingent assets

The Company creates a provision when there rs a present obligation as a result of past events, and it is probable that there will be outflow of resources and a reliable estimate of the obligation can be made of the amount of the obligation. Contingent liabilities are not recognized but are disclosed in the notes to the financial statements. A disclosure for a contingent liability is mode when there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate, if it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent assets are neither recognized nor disclosed in the financial statements.

12. Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in th-e absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible to the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use whon pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a man-financial asset takes into account a market participant''s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset In its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. AH assets and liabilities for which fair vatuE is measured or disclosed in the financial statements art categorized within the fair value hierarchy, described as follows, based on the lowest level Input that is significant to the fair value measurement as a whole:

* Level 1 - quoted (unadjusted) market prices in active marketsiat^jaffbe^tj^ifets or liabilities,

* Level 2 - inputs other than quoted prices included within Level l that are observable for the asset or liability, either directly or indirecLly,

• Level 3 - i n p uts that a re u nobservable f o r th e a sset o r Jl-a bi lity.

For assets and liabilities that are recognized in the financial statements at fair value an ? recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each reporting period and discloses the same

13, Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments also include derivative contracts such as foreign currency foreign exchange forward contracts, interest rate swaps and currency options, and embedded derivatives in the host contract.

a. Financial Assets

Classification:

The Company shall classify financial assets and subsequently measured at amortised cost, fair value through other comprehensive income {FVOCtJ or fair value through profit or loss (FVTPL) on the basis of its business model for managing the financial assets and the contractual cash flow characteristics of the financial asset-

initial recognition and measurement:

All financial assets are recognised initially at fair value plus transaction costs that are attributable to the acquisition of the financial asset, in the case of financial assets not recorded at fair value through profit or loss. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognised on the trade date, i.e., the date that the company commits to purchase or sell the asset.

I

Fair value through profit or loss:

Assets that do not meet the criteria for amortized cost or FVOCl are measured at fair value through profit or loss. A gam or loss on. a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in Statement of Profit and Loss in the period in which it arises, unless it arises from debt instruments that were designated at fair value, or which are not held for trading, interest income from these financial assets is included in ''Interest income'' using the effective interest rate method.

Fair value through other comprehensive Income:

Financial assets that are held for collection of contractu a l cash flows and for selling the assets, where the assets'' cash flows represent solely payments of principal and interest, and that are not designated at FVPL, are measured at fair value through other comprehensive income. Movements in the tarrying amount are taken through FVOCl, except for the recognition of impairment gains or Josses, interest revenue antf foreign exchange gains and Josses on the instrument''s amortized cost which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCl is reclassified from equity to profit or loss, interest income from these financial assets is included in ''Interest income'' using the Effective interest rate method.

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Amortized Cost!

Assets that arc held fqr contractual cash flows where those cash flows represent solely payments of principal and interest (''SPPI''), and that are not designated at FVTPL, are measured at amortized cost. The carrying amount of these assets Is adjusted by any expected credit loss allowance recognized and measured. Interest income from these financial assets is recognized using the effective interest rate mettled,

SS NX

Interest income:

Interest income is calculated by applying the effective interest rate Co the gross carrying amount of financial assets.

Equity instruments;

Equity instruments are instruments that meet the definition of equity from the issuer''s perspective; chat IS, instruments mat do nDt contain a contractual obligation to pay and that evidence a residual interest in the issuer''s net assets. Ind AS 109 requires all investments in equity instruments and contracts on those instruments to be measured at fair value.

The Company subsequently measures all quoted equity investments at fair value. Where the company''s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification for fair value gains 3nd Josses to profit or loss following the de-recognition of the investment,

The Company subsequently measures all un-quoted equity investments at cost based on the requirements of Ind AS 109, where in some hmlted eircu instances cost is a more appropriate estimate of fair value, that may be the case if insufficient more recent information is available to measure the fair value or if there is a wide range of possible fair value measurements and cost represents the best estimate of the fair value within that range.

Changes in the fair value of financial assets at fair value through profit or loss are recognised in net gain/ loss on fair value changes in the statement of profit and loss, impairment losses (and fevers aE of impairment losses) on equity investments measured at FVQCI arc not reported separately from other changes in fair value.

Sains and fosses on equity investments at FVTPL are included in the Statement of Profit and Loss.

Debt instruments:

Debt instruments are those instruments that meet the definition of a financial liability from the issuer''s perspective, such as loans, government and corporate bonds and trade receivables. Based on the factors, the Company classifies its debt instruments into one of the above three measurement categories.

De-recognition:

A financial asset (or, where applicable, a part of a financial asset or part of a company of similar financial assets! is primarily derecognised (E.e., removed from the company''s balancesheet) when:

a. The rights to receive cash flows from the asset have expired, or

b. The company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a .third party under a ''pass-through¹ arrangement; and either (a) the company has transferred substantially all the risks and rewards of the asset, or (b) the company has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset.

c. When the company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the company continues to recognise the transferred asset to the extent of the company''s continuing involvement. In that case, the company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the company has retained.

d. Continuing involvement that takes the form of a guarantee aver—the transferred asset is

measured at the lower of the original carrying amount of the asx&Sritfi^h^^&pimum amount of consideration that the company could be required to repay. [jSvjvi

Impairment of financial assets:

In accordance with Ind-AS 159, the Company applies expected credit loss (ECL) made! far measurement and recognition of impairment loss on the fallowing financial assets and credit risk exposure:

i. Financial assets that are debt instruments, and are measured at amortised cost e.g,, loans, debt securities, deposits, and bank balance:

The Company follows general approach for recognition of impairment loss allowance for financials assets other than trade receivables. In general approach, the financial asset Is divided into 3 stages and the amount of ECL is recognized depending on the stage of the financial asset into consideration.

The Loss under this approach Is either based on the 12 months ECL or lifetime ECL. All financial assets falling in stage l is performing and requires 12 months ECL, whereas financial assets in Stage 2 Where the credit risk has increased significantly post recognition or financial assets in Stage 3 which are credit impaired a lifetime ECL is required.

ii. Trade receivables:

The Company follows simplified approach for recognition of impairment loss allowance an trade receivables which do not contain a significant financing component. The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition (if any}-

b. financial Liabilities

Classification:

ThE Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at fair value through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value.

initial recognition and measurement:

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss or amortised costs.

Loans and. b orrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the ElR method. Gains and losses are recognised In profit or loss when the liabilities are derecognised as well as through the ElR amortisation process.

De-recognition:

A financial liability Is cere cognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Offsetting

Financial assets and financial liabilities are ofrset, and the net amount is presented in the balance sheet when, and when the company has a legally enforceable right to set off the amount and it intends either to settle them on net basis or to realize the asset and settle the liability simultaneously.

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Derivative financja \ Inst name nts

The company uses derivative financial instruments, such as forward currency contracts, interest rate swaps and forward commodity contracts, to hedge its foreign currency risks. Interest rate risks and commodity price risks, respectively. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative-

14. Cash and cash equivalents

Cash and cash Equivalents in the Balance sheet comprise cash at hanks and on hand and short-term deposits with an original maturity of three or less month, which are subject to an insignificant risk of changes in value.

15. Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals, or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing, and financing activities of the Company are segregated-

16- Earnings per share

a. Bask earnings per share

Basic earnings per share is calculated by dividing the profit attributable to owners if the Company by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus element In equity shares issued during the year, if any and excluding treasury shares.

b. Diluted earnings per share

Diluted earnings per share adjusted the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential equity shares, and the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares,

17, Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after the balance sheet date of material size or nature are only disclosed.

IS. Borrowing Costs

Borrowing costs, if any, directly attributable to the acquisir on, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized, if any, Ml other borrowing costs are expensed In the period in which they are incurred.

19. Segment Accounting Policies

Based on the criteria mentioned in Ind A5 IDS "Operating Segment" the company has identified its reportable segments. The Chief Operating Decision Maker (CODM) evaluates the company''s performance and allocates resources based on an analysis of various performance indicators by operating segments. The CODM reviews revenue and gross profit as performance indicator for all the operating segments,

20, Recognition Of MPA

Non-Performing Assets (NPAj, if any, is recognized as per the pruriepjJ^J5fli^.of--.NBFC Rules and Regulations of Reserve Bank of India.

b Invralnwnts Had*:

The dseslmenli are Ghaatfled under rcspcol-yc heads 1or purples as TiD''Hioced in Ihe-r olncol clause Rioter Noin 6 oMhc Financial StiAemnnS*

c (Juaranicc Giisan or Security Provided, r jrinL Ihe rsjr 1F2 £ is no such transaction

^5] h accordance *ilfi ind AS 1* the related party discKHimr is as under, Ihc irrimmalitiri rcjandinij relied pony nayr hjm nwcmiined In me miewi such primes ruse hern idEntified on ihe basis a* mroroiallon available win me company

I, Name ul the Related Parltss :

A] Key Manafl*meni Personnel.

Mr Dharmendra Apravral WHolo Time Qnedor Mr. Epsiecs Shnrma Whole Time Director Mr Vikas Gupta Chiel F*iancral emoor (Cf Of

Ms. Nehs Einjh Cornpuny Snurdary fCSl lAppuiiireil w.d I IBIdM!]

Mr Mphe Races Sbeikh (CS) (Resigned syeT(P5rtHr3tra?)

1ZJ L''a-p .laI Management:

Tlie Cutrpa''ty mfliniflinsar. act-vflly rnsnagqd r.api!^ aapr la cover risks inheicn! in Ihe b..s.ryisr. v."ich induces issue! eqjily cap''s and ai‘ "Ihur equity reserves attributable Id equity I widens of ft¹* Cuniawiy

RBI requM NRFt''s ta mninln-n n frurwnun rvipilal la rink woighlcd assets rurlm ffifiAfl") consisting of Tier I ard Tieri ll en.nlal of 1516 af aur aggregate nek weighted asseris Since. I lie Company £NBFC|i is a “ NHFC--WSI-NO I’flnw k «s no! ifcQiiir^lD''CQI^PMli*radios The Company has complied with tfie nalifcaljoffi RB-Lr2QI9-3Q170 DQfl (NBfCjCC PD Nc- 10=b''22 1D 1D512019-20 "Implemenlarttaf! el India*} ACTOu^linfl SlandarfKl

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Each ysar. lira C

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Mar 31, 2015

(A) ADDITIONAL NOTES ON ACCOUNTS

1) The Company is contingent Liability in respect:-

2) In accordance with A5-13 the long term investments held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long-term nature.

3) The company has identified doubtful debt of Rs. 13.87 Crores (Pr.Yr. Rs. 11.98 Crore) and there against made NPA Provision of Rs.291.31 Lacs (Pr. Yr. Rs. 157.64 Lacs) as per prudential norms of RBI Act and rules, including fraud-covered NPA amounting to Rs.NIL (Previous year Rs.160.21). The fraud covered NPA is fully written off amounting toRs. 215.79 Lacs.

4) Pursuant to the Provisions of Section 135 of the Companies Act 2013 read with companies (Corporate Social Responsibility Policy) Rules 2014 the company has provided for an amount of 718.5 Lacs towards the discharge of Corporate Social Responsibility.

5) During the year company has written off certain loan creditors amounting to Rs. 8127240 and the same is shown as exceptional item.

6) Segment Reporting:

Based on the accounting principles given in AS -17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment. Accordingly the company has no reportable segment other than finance.

7) There are no dues payable to small scale undertaking in view of the business of the nature of the company.

8) Depreciation on fixed assets is provided on straight line method as per the estimated remaining useful life of assets pursuant to t h e provisions of section 123 read with Schedule II - Part C of The Companies Act, 2013. Accordingly the depreciation for the Current year is taken at Rs.3799817. Had the earlier method been followed the depreciation would have been at Rs.12246884.

9) Additional Information as required under Part II clause (viii) (d) of Schedule III of the Companies Act, 2013 in respect of payment of Dividend in foreign exchange:

- No. of Shareholders : One

- Total no. of shares held : 2770000 equity shares

- Dividend for the Financial Year: 2013-14

- Amount remitted : INR 2770000 (USD 57584.93).

10) As per AS-3 the Cash Flow Statement is enclosed herewith.

11) Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.l25/03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per Statement-"A".

12) Figures related to previous year regrouped/rearranged wherever necessary.

13) The figures have been rounded off to the nearest multiple of a rupee.

14) Figures of Debtors and Creditors are subject to confirmation,

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Mar 31, 2014

1. The Company is contingently liable in respect:-

Current year Previous year Rs. In Lacs Rs. In Lacs

a) Disputed demand of Income Tax not provided For: 425.92 56.15

b) Disputed demand of Custom related to F.Y.1996-97 10.00 10.00

Fully paid but not provided for.

2. In accordance with AS-13 the long term investment held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long term nature.

3. The company has identified doubtful debt of Rs. 11.98 Crores (P/Y Rs. 3.95 Crore) and there against made NPA Provision of X 157.64 Lacs (P/Y Rs. 53.35 Lacs) as per prudential norms of RBI Act and rules, including fraud-covered NPA amounting to Rs. 60.21 Lacs.

4. During the year the Company has continued taking Corporate Guarantees from Agarwal Coal Corporation Pvt. Ltd. and Agarwal Transport Corporation Pvt. Ltd. for Rs. 100 Crores (P/Y Rs. 100 Crores), each, which stand withdrawn as at 31st March, 2014, in pursuant to compliance with Section 185(1) of the Companies Act, 2013.

8. Segment Reporting:

Based on the accounting principles given in AS - 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment. Accordingly company has no reportable segment other than finance.

9. The above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the Company.

* In pursuant to the introduction of Section 185(1) of the Companies Act, 2013, the Corporate Guarantees extended have been withdrawn for compliance with the said section.

10. There are no dues payable to small scale undertaking in view of the business of the nature of the company.

11. Additional Information as required under Part II (VIII) of Revised Schedule VI of the Companies Act, 1956 in respect of foreign exchange earnings and outgo etc. are - Remittance of Dividend (USD Equivalent 63728.34)Rs. 2770000.

12. As per AS-3 the cash flow statement is enclosed herewith.

13. Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.125/03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per statement-"A" .

14. Figures related to previous year regrouped/rearranged wherever necessary.

15. The figures have been rounded off to the nearest multiple of a rupee.

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Mar 31, 2013

1. Segment Reporting

Based on the accounting principles given in Accounting Standard AS -17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment Accordingly the company has no reportable segment other than finance.

2. There are no dues payable to small scale industrial undertaking in view of the business of the nature of the company.

3. Additional Information as required under part II (VIII) of revised Schedule VI of the Companies Act, 1956 m respect of foreign exchange earnings and outgo etc. are :-

a) Director''s Foreign Travelling Expenditure Rs. NIL(Pr.yr.Rs. 51842)

b) Remittance in foreign currency on account of dividend to Agarwal Coal Corporation (S) PTE Ltd. (Related Party) for the financial year 2011-12 in respect of 2770000 equity shares of Rs. 10/- each held by them at the rate Rs. 1/- share amounting to Rs. 2770000 (Pr. Yr. 561590)

4. As per AS-3 the cash flow statement is enclosed herewith.

5. Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.l25/ 03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per statement-"A".

6. The figures have been rounded off to the nearest multiple of a rupee.

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Mar 31, 2012

I) Terms/Rights attached to equity shares

The Company has only one class of equity shares having a par value of' 10 per share. Member of the company holding equity share capital therein have a right to vote on every resolution placed before the company and right to receive dividend.

The voting rights on a poll is proportion to the share of the paid-up equity capital of company held by the shareholders.

1) Retirement benefits in the form of Provident Fund & Other Fund are charged to the Profit and Loss account of the year when contributions to the respective Funds are due.

2) Gratuity liability under the Payment of Gratuity Act' is charged to the Profit and Loss account of the year when contributions to the LIC Group Gratuity trust is due.

3) The liability on account of encashment of leave to employees is provided on estimated basis.

2. In accordance with accounting standard (AS) 13 the long term investments held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long-term nature.

3. Subject to provision of doubtful debt of Rs2.31 crore (Previous year Rs2.12 crore) other than NPA Provision of Rs37.95 Lacs (Previous year Rs 37.42 Lacs) as per prudential norms of RBI Act and rules

4. The Company has taken Corporate Guarantee from Agarwal Coal Corporation Pvt. Ltd. of Rs70 Crores (Pr. Yr. Rs45 Crores) and from Agrawal Transport Corporation Pvt. Ltd. of Rs70 Crores (Pr. Yr. Rs45 Crores) under Stipulation with the lennding banks.

5. SEGMENT REPORTING:

Based on the accounting principles given in Accounting Standard AS-17 "Segment Reporting” issued by the Institute of Chartered Accountants of India' the size of operation of wind power segment does not come under reportable segment. Accordingly the company has no reportable segment other than finance.

6. RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD -18:

a) Key Management Personnel : Mr. Vinod K. Agarwal-M.D.

Mr. J.N. Choudhury - Director-In-Chaxge

b) Relative(s)of Key Management : Smt.Neena Devi Agarwal -Wife of M.D.

Personnel TapanAgarwal-SonofM.D.

Smt. Dolly Choudhury - Wife of Mr. J.N.

Choudhury' Director-In-Charge Devraj Agarwal - Brother of M.D.

c) Associates : Agarwal Coal Corporation Pvt.Ltd.

Agarwal Transport Corporation Pvt.Ltd.

Available Finance Ltd.

d) The above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the Company.

7. There are no dues payable to small scale industrial undertaking in view of the business of the nature of the company.

8. Additional Information as required under part II (VIII) of revised Schedule VI of the Companies Act' 1956 in respect of foreign exchange earnings and outgo etc. are

a) Foreign exchange expenditures on account of FCNRB interest-NIL(Previous year-Rs6793293).

b) Director’s Foreign Travelling Expenditure Rs 51842 (Previous year NIL)

9. As per AS-3 the cash flow statement is enclosed herewith.

10. As required by para 9BB of NBFC Prudential Norms (Reserve Bank) Directions' 1998 a statement is enclosed herewith.

11. The figures have been rounded off to the nearest multiple of a rupee.

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Mar 31, 2010

1) Adjustment relating to previous year amounting to Rs 1036253/- pertains to the compensation of under performance of wind power mill of suzlon shown as income in earlier years The amount of compensation, if any, shall be settled by the suppliers in the F.Y. 2010-11 and accordingly, income if any shall be accounted for on cash basis.

2) The company is contigently liable in respect of :-

a) Disputed demand of Rs 794395/- under appeal in respect of income tax.

b) In respect of corporate guarantee of Rs 34 crore taken from Agarwal Coal Corporation Pvt. Ltd.

c) In respect of corporate guarantee of Rs 34 crore taken from Agarwal Transport Corporation Pvt. Ltd.

3) The company has made adequate provision of Income Tax against disputed demands, pending settlement in appeals/rectification at various stages.

4) In accordance with accounting standard (AS) 13 issued by the council of the Institute of Chartered Accountants of India, the long term investments held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long-term nature.

5) The Company has discontinued the operations with HDFC Bank Ltd., to act as a Channel Partner. Accordingly, the debtors on account of HDFC shall become the debtors ot the company.

6) Adequate provision against the doubtful sundry debtors has been made in the books of accounts as per the prudential norms prescribed by RBI related to Non Performing Assets.

7. SEGMENT REPORTING

Based on the accounting principles given in Accounting Standard AS-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under reportable segment. Accordingly the company has no reportable segment other than finance.

8. RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18 :

a) Key Management Personnel : Mr. Vinod K. Agarwal, M.D.

Mr. J.N. Choudhury, Director- In-Charge

b) Relative(s) of Key Management : Smt. Neena Devi Agarwal, Wife of M.D. Personnel Tapan Agarwal, Son of M.D. Smt. Dolly Choudhury, Wife of Mr. J.N. Choudhury, Director- In-Charge

c) Asssociates : Agarwal Coal Corporation Pvt. Ltd. Agarwal Transport Corporation Pvt. Ltd. Available Finance Ltd.



d) the above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the Company.

9. There are no dues payable to small scale industrial undertaking in view of" the business of the nature of the company.

10. Additional Information as required under part Il & lll of schedule VI of the Companies Act, 1956 in respect of quantity records, foreign exchange earnings and outgo etc.

a) Foreign exchange expenditures on account of FNCRB interest Rs 615932 - (Previous year- Rs 1687993).

b) Production of Wind Power 2280624 units (Previous year 2195471 units)

11. As per AS-3 the cash How statement is enclosed here with.

12. Additional Information in respect of" balance sheet abstract as required under part IV of Schedule VI of the Companies Act, 1956 is Enclosed herewith.

13. As required by para 9BB of NBFC Prudential Norms (Reserve Bank) Directions, 1998 a statement is enclosed herewith.

14. Previous year figures have been re-grouped re-arranged wherever considered necessary.

15. The figures have been rounded off to the nearest multiple of a rupee.