Golden Legand Leasing & Finance Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

f) Provisions and Contingencies

A provision is recognised when the Company has a present 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 not discounted to their present value 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. Contingent liabilities are disclosed in the Notes. Contingent
assets are not recognised in the financial statements

Provisions are measured at the estimated expenditure required to settle the present
obligation, based on the most reliable evidence available at the reporting date,
including the risks and uncertainties associated with the present obligation. Where
there are a number of similar obligations, the likelihood that an outflow will be
required in settlement is determined by considering the class of obligations as a

whole. Provisions are discounted to their present values, where the time value of
money is material

Contingent liabilities are disclosed when there is a possible obligation arising from
past events, the existence of which will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control
of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle the obligation or a
reliable estimate of the amount cannot be made. Contingent assets are neither
recognised nor disclosed in the financial statements.

g) 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.

Recognition, initial measurement and derecognition

Financial assets and financial liabilities are recognized when the Company becomes
a party to the contractual provisions of the financial instrument and are measured
initially at fair value adjusted by transactions costs, except for those carried at fair
value through profit or loss which are measured initially at fair value. A financial asset
(or, where applicable, a part of a financial asset or part of a Company of similar
financial assets) is primarily derecognised (i.e. removed from the Company''s balance
sheet) when:

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

^ii. 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-through'' 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.

Classification and subsequent measurement of financial assets

For the purpose of subsequent measurement, financial assets other than those
designated and effective as hedging instruments are classified into the following
categories upon initial recognition:

i. Debt instruments, derivatives and equity instruments at fair value through profit
or loss (FVTPL)

Debt instruments at fair value through profit or loss : FVTPL is a residual category
for debt instruments. Any debt instrument, which does not meet the criteria for
categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the company may elect to designate a debt instrument, which
otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such
election is allowed only if doing so reduces or eliminates a measurement or
recognition inconsistency (referred to as ''accounting mismatch''). Debt
instruments included within the FVTPL category are measured at fair value with
all changes recognized in the P&L.

ii. Debt instruments at Amortised cost: A ''debt instrument'' is measured at the
amortised cost if both the following conditions are met:

a. The asset is held within a business model whose objective is to hold assets for
collecting contractual cash flows, and

b. Contractual terms of the asset give rise on specified dates to cash flows that
are solely payments of principal and interest (SPPI) on the principal amount
outstanding.

iii. Equity instruments

All equity investments in scope of Ind AS 109 are measured at fair value. Equity
instruments which are held for trading and contingent consideration recognised
by an acquirer in a business combination to which Ind AS 103 applies are
classified as at fair value through profit and loss (FVTPL). For all other equity
instruments, the Company may make an irrevocable election to present in other
comprehensive income subsequent changes in the fair value. The Company
makes such election on an instrument by-instrument basis. The classification is
made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all
fair value changes on the instrument, excluding dividends, are recognized in OCI.
There is no recycling of the amounts from OCI to P&L, even on sale of
investment. However, the Company may transfer the cumulative gain or loss
within equity.

Equity instruments included within the FVTPL category are measured at fair
value with all changes recognised in the statement of Profit and Loss.

Impairment of financial assets

The Company is required to recognise expected credit losses (ECLs) based on
forward-looking information for all financial assets at amortised cost, lease
receivables, debt financial assets, loan commitments and financial guarantee
contracts. No impairment loss is applicable on equity investments.

At the reporting date, an allowance (or provision for loan commitments and financial
guarantees) is required for the 12 month ECLs. If the credit risk has significantly
increased since initial recognition (Stage 1), an allowance (or provision) should be
recognised for the lifetime ECLs for financial instruments for which the credit risk has
increased significantly since initial recognition (Stage 2) or which are credit impaired
(Stage 3).

The measurement of ECL is calculated using three main components: (i) probability
of default (PD) (ii) loss given default (LGD) and (iii) the exposure at default (EAD). The
12 month and lifetime PDs represent the PD occurring over the next 12 months and
the remaining maturity of the instrument respectively. The EAD represents the
expected balance at default, taking into account the repayment of principal and
interest from the balance sheet date to the default event together with any expected
drawdowns of committed facilities. The LGD represents expected losses on the EAD
given the event of default, taking into account, among other attributes, the mitigating
effect of collateral value at the time it is expected to be realised and the time value of
money.

The Company applies a three-stage approach to measure ECL on financial assets
accounted for at amortised cost. Assets migrate through the following three stages
based on the change in credit quality since initial recognition.

i. Stage 1: 12-months ECL

For exposures where there has not been a significant increase in credit risk since
initial recognition and that are not credit impaired upon origination, the portion of
the lifetime ECL associated with the probability of default events occurring within
the next 12 months is recognised. Exposures with days past due (DPD) less than
or equal to 29 days are classified as stage 1. The Company has identified zero
bucket and bucket with DPD less than or equal to 29 days as two separate
buckets.

ii. Stage 2: Lifetime ECL - not credit impaired

For credit exposures where there has been a significant increase in credit risk
since initial recognition but that are not credit impaired, a lifetime ECL is
recognised. Exposures with DPD equal to 30 days but less than or equal to 89
days are classified as stage 2. At each reporting date, the Company assesses
whether there has been a significant increase in credit risk for financial asset
since initial recognition by comparing the risk of default occurring over the
expected life between the reporting date and the date of initial recognition. The
Company has identified cases with DPD equal to or more than 30 days and less
than or equal to 59 days and cases with DPD equal to or more than 60 days and
less than or equal to 89 days as two separate buckets.

iii. Stage 3: Lifetime ECL - credit impaired

Financial asset is assessed as credit impaired when one or more events that
have a detrimental impact on the estimated future cash flows of that asset have
occurred. For financial asset that have become credit impaired, a lifetime ECL is
recognised on principal outstanding as at period end. Exposures with DPD equal
to or more than 90 days are classified as stage 3.

A loan that has been renegotiated due to a deterioration in the borrower''s
condition is usually considered to be credit-impaired unless there is evidence
that the risk of not receiving contractual cash flows has reduced significantly and
there are no other indicators of impairment. ECL is recognised on EAD as at
period end.

If the terms of a financial asset are renegotiated or modified due to financial
difficulties of the borrower, then such asset is moved to stage 3, lifetime ECL
under stage 3 on the outstanding amount is applied.

The Company assesses when a significant increase in credit risk has occurred
based on quantitative and qualitative assessments. Exposures are considered to
have resulted in a significant increase in credit risk and are moved to Stage 2
when:

¦ Quantitative test: Accounts that are 30 calendar days or more past due move
to Stage 2 automatically. Accounts that are 90 calendar days or more past due
move to Stage 3 automatically.

¦ Qualitative test: Accounts that meet the portfolio''s ''high risk'' criteria and are
subject to closer credit monitoring. High risk customers may not be in arrears
but either through an event or an observed behaviour exhibit credit distress.

¦ Reversal in Stages: Exposures will move back to Stage 2 or Stage 1
respectively, once they no longer meet the quantitative criteria set out above.
For exposures classified using the qualitative test, when they no longer meet
the criteria for a significant increase in credit risk and when any cure criteria
used for credit risk management are met.

The definition of default for the purpose of determining ECLs has been aligned to
the Reserve Bank of India definition of default, which considers indicators that
the debtor is unlikely to pay and is no later than when the exposure is more than
90 days past due.

The Company continues to incrementally provide for the asset post initial
recognition in Stage 3, based on its estimate of the recovery.

Derecognition of Financial Assets

A financial asset (or, where applicable, a part of a financial asset or part of a group of
similar financial assets) is derecognised when:

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

ii. The Company has transferred its rights to receive cash flows from the asset and
substantially all the risks and rewards of the asset, or the Company has neither
transferred nor retained substantially all the risks and rewards of the asset, but
has transferred control of the asset

If the Company retains substantially all the risks and rewards of ownership of a
transferred financial asset, the Company continues to recognise the financial
asset and also recognises a collateralised borrowing for the proceeds received.

Classification and subsequent measurement of financial liabilities

All financial liabilities are recognised initially at fair value and, in the case of loans and
borrowings and payables, net of directly attributable transaction costs. The
Company''s financial liabilities include trade payables, other payables, loans and
borrowings. The Company classifies all financial liabilities as subsequently
measured at amortised cost.

After initial recognition, interest-bearing loans and borrowings are subsequently
measured at amortised cost using the EIR method. Gains and losses are recognised
in the statement of profit and loss when the liabilities are derecognised as well as
through the EIR amortisation process. Amortised cost is calculated by taking into
account any discount or premium on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortisation is included as finance costs in the
statement of profit and loss.

h) Trade and other Payables

The Company does not have system of obtaining periodical confirmation of balances
relating to trade receivables, trade payables, loans and advances, borrowings and

current liabilities and is in the process of establishing the same and complying it
henceforth

Derecognition of Financial Liabilities

The Company derecognises financial liabilities when, and only when, the Company''s
obligations are discharged, cancelled or have expired. The difference between the
carrying amount of the financial liability derecognised and the consideration paid and
payable is recognised in profit or loss.

i) Going Concern Assumption

The financial statements have been prepared assuming entity will be able to continue
its opreation in near foreseeable futuer and there is no material circumstances
casting doubt over going concern ability of company and neither management
intends to liquidate its operation.

j) Fair value measurement

The Company measures financial instruments such as, investment in equity shares,
at fair value on initial recognition

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:

1. In the principal market for the asset or liability, or

2. In the 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 by the Company.

The fair value of an asset or a liability is measured using the assumptions that
market participants would use when pricing the asset or liability, assuming that
market participants act in their economic best interest. A fair value measurement of
a non-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.

All assets and liabilities for which fair value is measured or disclosed in the financial
Statement are categorised 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:

i. Level 1 - Inputs are quoted (unadjusted) market prices in active markets for
identical assets or liabilities that the entity can access at the measurement date.

ii. Level 2 - Valuation techniques for which the lowest level input that is significant

to the fair value measurement are other than quoted prices included within Level
1 that are observable for the asset or liability, either directly or indirectly.

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

For the purpose of fair value disclosures, the Company has determined classes
of assets and liabilities on the basis of the nature, characteristics and risks of the
asset or liability and the level of the fair value hierarchy as explained above. This
note summarizes accounting policy for fair value. Other fair value related
disclosures are given in the relevant notes.

k) Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will
flow to the Company and the revenue can be reliably measured, regardless of when
the payment is being made. Revenue is measured at the fair value of the
consideration received or receivable, taking into account contractually defined terms
of payment and excluding taxes or duties collected on behalf of the government

i. Interest income: Interest income from a financial asset is recognised using
effective interest rate method.

ⁱⁱ. Other income: Other income is recognized only when it is reasonably certain that
the ultimate collection will be made.

iii. Dividend income: Dividend income is recognized when the Company''s right to
receive payment is established.

l) Leases

Ind AS 116 sets out the principles for the recognition, measurement and disclosure
of leases for both lessees and lessors. A lessee recognises right-of-use asset
representing its right to use the underlying asset and a lease liability representing its
obligation to make lease payments.

For short term and low value leases, the Company recognizes the lease payments as
an operating expense on a straight line basis over the lease term.

m) Income taxes

The Company has not filed income tax return for earlier assessment years 2020-21
and 2022-23

Tax expense recognised in the statement of profit and loss comprises the sum of
deferred tax and current tax not recognised in OCI or directly in equity.

Current income tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income-tax Act. Current income tax relating
to items recognised outside statement of profit and loss is recognised outside
statement of profit and loss (either in OCI or in equity).

Deferred income taxes are calculated using the liability method. Deferred tax
liabilities are generally recognised in full for all taxable temporary differences.

Deferred tax assets are recognised to the extent that it is probable that the underlying
tax loss, unused tax credits or deductible temporary difference will be utilized against
future taxable income. This is assessed based on the Company''s forecast of future
operating results, adjusted for significant nontaxable income and expenses and
specific limits on the use of any unused tax loss or credit. Unrecognised deferred tax
assets are re-assessed at each reporting date and are recognised to the extent that
it has become probable that future taxable profits will allow the deferred tax asset to
be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to
apply in the year when the asset is realised or the liability is settled, based on tax
rates (and tax laws) that have been enacted or substantively enacted at the reporting
date. Deferred tax relating to items recognised outside statement of profit and loss is
recognised outside statement of profit and loss (either in OCI or in equity).

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right
exists to set off current tax assets against current tax liabilities and the deferred
taxes relate to the same taxation authority.

n) Borrowing costs

Borrowing costs are expensed in the period in which they are incurred and reported
in finance costs. It also include interest expense calculated using the effective
interest method.

o) Employee benefits

Borrowing costs are expensed in the period in which they are incurred and reported
in finance costs. It also include interest expense calculated using the effective
interest method.

i. Provident Fund

Retirement benefit in the form of Provident Fund is a defined contribution
scheme. The Company has no obligation, other than the contribution payable to
the provident fund. The Company recognises contribution payable to the
provident fund scheme as an expense, when an employee renders the related
service.

ii. Gratuity

Gratuity is in the nature of a defined benefit plan. Provision for gratuity is
calculated on the basis of actuarial valuations carried out at balance sheet date
and is charged to the statement of profit and loss. The actuarial valuation is
performed using the projected unit credit method. Remeasurement, comprising
of actuarial gains and losses, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit liability and the return on plan
assets (excluding amounts included in net interest on the net defined benefit
liability), are recognised immediately in the balance sheet with a corresponding
debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.

iii. Compensates Absences

The company provides Privilege Leave to it''s employees in India. Provision for
leave encashment is calculated on the basis of actuarial valuations carried out at
balance sheet date and is charged to the statement of profit and loss. Privilege
leave is computed on calendar year basis, however, any unavailed privilege
leaves upto 45 days will be carried forward to the next calendar year. Privilege
leave can only be encashed at the time of retirement / termination / resignation
/ withdrawal and is computed as no. of privilege leaves multiplied with applicable
salary for leave encashment. The company''s liability towards privilege leaves is
determined on the basis of year end actuarial valuations applying the Projected
Unit Credit Method (as per Ind AS 19) done by an independent actuary.

Disclosures in respect of above, if any, are provided as per the requirement of the
local law.

p) Earnings per share

Basic earnings per share is calculated by dividing the net profit / (loss) for the year
attributable to equity shareholders (after deducting preference dividends and
attributable taxes) by weighted average number of equity shares outstanding during
the year. For the purpose of calculating diluted earnings per share, the net profit /
(loss) for the year attributable to equity shareholders and the weighted average
numbers of shares outstanding during the year are adjusted for the effects of all
dilutive potential equity shares. Dilutive potential equity shares are deemed
converted at the beginning of the year and not issued at a later date.

In computing the diluted EPS, potential equity shares that either increase earnings
per share or decrease loss per equity share, being antidilutive are ignored.

q) Segment Reporting Policies:

Segment reporting as Ind-As 108 is not applicable as management has determined
that the company is involved in financing and investment activity and operates under
single chief operating decision maker w.e.f April 1, 2023

r) Prior period errors and omissions

The Company has not done the retrospective adjustment of prior period errors and
omissions by restating the comparative amounts for prior period presented or, where
the errors relate to the period(s) before the earliest prior period presented, restating
the opening balance of assets, liabilities and equity for that period and accounted the
same in the current year ended March 31,2024

s) Others

i. The Company has not ascertained nor accrued for Good and Services Tax (GST)
liability under reverse charge mechanism in the financial statements. The
Company is in the process of ascertaining the same and will accrue it once
ascertained

ii. The Company did not have an internal audit during the year ended March 31,
2024 and appointed internal audit on November 18, 2024 to carry out internal
audit for the financial years 2023-24 and 2024-25.

The sensitivity analysis have been determined based on reasonably possible changes of the
respective assumptions occurring at the end of the reporting period, while holding all other
assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in
the Defined Benefit Obligation as it is unlikely that the change in assumptions would occur
in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the Defined
Benefit Obligation has been calculated using the projected unit credit method at the end of
the reporting period, which is the same method as applied in calculating the Defined Benefit
Obligation as recognised in the balance sheet.

There was no change in the methods and assumptions used in preparing the sensitivity
analysis from prior years.

Notes

Gratuity is payable as per entity''s scheme as detailed in the report.

Actuarial gains/losses are recognized in the period of occurrence under Other
Comprehensive Income (OCI). All above reported figures of OCI are gross of taxation.

Salary escalation & attrition rate are considered as advised by the entity; they appear to be
in line with the industry practice considering promotion and demand & supply of the
employees.

Maturity Analysis of Benefit Payments is undiscounted cashflows considering future salary,
attrition & death in respective year for members as mentioned above.

Average Expected Future Service represents Estimated Term of Post - Employment Benefit
Obligation.

Weighted Average Duration of the Defined Benefit Obligation is the weighted average of
cash flow timing, where weights are derived from the present value of each cash flow to the
total present value.

Any benefit payment and contribution to plan assets is considered to occur end of the year
to depict liability and fund movement in the disclosures.

Qualitative Disclosures

Para 139 (a) Characteristics of defined benefit plan

The entity has a defined benefit gratuity plan in India (unfunded). The entity''s defined benefit
gratuity plan is a final salary plan for employees. Gratuity is paid from entity as and when it
becomes due and is paid as per entity scheme for Gratuity.

Para 139 (b) Risks associated with defined benefit plan

Gratuity is a defined benefit plan and entity is exposed to the Following Risks:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the
present value of the liability requiring higher provision.

Salary Risk: The present value of the defined benefit plan liability is calculated by reference
to the future salaries of members. As such, an increase in the salary of the members more
than assumed level will increase the plan''s liability.

Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow.
entity has to manage pay-out based on pay as you go basis from own funds.

Mortality risk: Since the benefits under the plan is not payable for life time and payable till
retirement age only, plan does not have any longevity risk.

Para 139 (c) Characteristics of defined benefit plans

During the year, there were no plan amendments, curtailments and settlements.

Para 147 (a)

Gratuity plan is unfunded.

Golden Legand Leasing and Finance Limited
Notes to the Financial Statements

Note No 21 : Financial Risk Management

c) Financial risk management

Risk management framework

The Company''s board of directors has overall responsibility for the establishment and
oversight of the Company''s risk management framework. The Company''s risk
management policies are established to identify and analyse the risks faced by the
Company, to set appropriate risk limits and controls and to monitor risks and adherence
to limits. Risk management policies and systems are reviewed regularly to reflect
changes in market conditions and the Company''s activities. The Company, through its
training and management standards and procedures, aims to maintain a disciplined and
constructive control environment in which all employees understand their roles and
obligations.

1) The Company has exposure to the following risks arising from financial instruments:

i. Credit risk

ii. Liquidity risk and
ii. Market risk

Credit risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to
perform or pay amounts due to the Company causing financial loss. It arises from cash
and cash equivalents, deposits with banks and financial institutions, security deposits,
loans given and principally from credit exposures to customers relating to outstanding
receivables. The Company''s maximum exposure to credit risk is limited to the carrying
amount of financial assets recognised at reporting date. The Company continuously
monitors defaults of customers and other counterparties, identified either individually or
by the Company, and incorporates this information into its credit risk

controls. Where available at reasonable cost, external credit ratings and/or reports on
customers and other counterparties are obtained and used. The Company''s policy is to
deal only with creditworthy counterparties. In respect of trade and other receivables, the
Company is not exposed to any significant credit risk exposure to any single
counterparty or any company of counterparties having similar characteristics. Trade
receivables consist of a large number of customers in various geographical areas. The
Company has no history of customer default, and considers the credit quality of trade
receivables that are not past due or impaired to be good. The credit risk for cash and
cash equivalents, mutual funds, bank deposits, loans and derivative financial
instruments is considered negligible, since the counterparties are reputable
organisations with high quality external credit ratings. Company provides for expected
credit losses on financial assets by assessing individual financial instruments for
expectation of any credit losses. Since the assets have very low credit risk, and are for
varied natures and purpose, there is no trend that the company can draws to apply
consistently to entire population. For such financial assets, the Company''s policy is to
provide for 12 month expected credit losses upon initial recognition and provides for
lifetime expected credit losses upon significant increase in credit risk. The Company
does not have any expected loss based impairment recognised on such assets
considering their low credit risk nature, though incurred loss provisions are disclosed
under each sub-category of such financial assets.

2) Liquidity risk

Liquidity Risk is defined as the risk that the Company will not be able to settle or meets
its obligations on time at a reasonable price In addition; processes and policies related
to such risks are overseen by senior management. Management monitors the
Company''s net liquidity through rolling forecasts of expected cash flows.

Exposure to liquidity risk

The table below is an analysis of Company''s financial liabilities based on their remaining
contractual maturities of financial liabilities at the reporting date.

3) Market risk

Market risk that the fair value or future cash flows of financial instruments will fluctuate
due to changes in market variables such as interest rates, foreign exchange rates and
equity prices Changes in market prices which will affect the Company''s income or the
value of its holdings of financial instruments is considered as market risk. It is
attributable to all market risk sensitive financial instruments.

a. Currency risk

The Company continues to assess the legal proceedings periodically. The estimates of
provisions and contingent liabilities may change over time, depending on the evolution
of the litigations and the outcome of judicial decisions or settlements

Note 22 : Capital management

The Company maintains an actively managed capital base to cover risks inherent in the
business which includes issued equity capital, securities premium and all other equity
reserves attributable to equity holders of the Company.

As an NBFC, the RBI requires us to maintain a minimum capital to risk weighted assets
ratio ("CRAR”) consisting of Tier I and Tier II capital of 15% of our aggregate risk
weighted assets. Further, the total of our Tier II capital cannot exceed 100% of our Tier
I capital at any point of time. The capital management process of the Company ensures
to maintain a healthy CRAR at all the times. Refer note 35 (Analytical Ratios) for the
Company''s Capital ratios.

The primary objectives of the Company''s capital management policy are to ensure that
the Company complies with externally imposed capital requirements and maintains
strong credit ratings and healthy capital ratios in order to support its business and to
maximise shareholder value.

The Company manages its capital structure and makes adjustments to it according to
changes in economic conditions and the risk characteristics of its activities. In order to
maintain or adjust the capital structure, the Company may adjust the amount of
dividend payment to shareholders, return capital to shareholders or issue capital
securities. No changes have been made to the objectives, policies and processes from
the previous years except those incorporated on account of regulatory amendments.
However, they are under constant review by the Board. The Company has not complied
with the notification RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20
"Implementation of Indian Accounting Standards.

Note 24 : Segment Reporting

Segment reporting as Ind-As 108 is not applicable as management has determined
that the company is not involved in financing and investment activity and operates
under single chief operating decision maker w.e.f April 1, 2024

Note 25 : Registration of charges or satisfaction with Registrar
of Companies (ROC)

No charges or satisfactions are yet to be registered with ROC beyond the statutory
period.

Note 26 : Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under clause (87) of
section 2 of the Act read with Companies (Restriction on number of Layers) Rules,
2017 for the financial years ended March 31, 2025 and March 31, 2024.

Note 27 : Details of crypto currency or virtual currency

The Company has neither traded nor invested in Crypto currency or Virtual Currency
during the financial year ended March 31, 2025. Further, the Company has also not
received any deposits or advances from any person for the purpose of trading or
investing in Crypto Currency or Virtual Currency.

Note 28 : Details of Benami Property Held

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 in the financial years ended March 31,2025 and March 31,
2024.

Note 31 : Lien Balance

The above Cash and Cash Equivalents do not include ? 36,17,058/- lakhs lying in a lien
bank balance, which the Company cannot currently operate due to regulatory/legal
restrictions. The matter is being pursued with the relevant authorities, and the
Company expects resolution in due course.

Note 32 : Nodal balance

The Company maintains nodal account with ICICI Bank and YES Bank. The nodal
accounts are operated as per RBI guidelines pertaining to settlement of payment for
electronic payment transactions for payment gateway business. The balance in the
nodal accounts represents money collected from customers on transaction
undertaken and is used for settling of dues to various merchants as per RBI
guidelines.

Receivable for settlement of transactions:

The balance in receivable for settlement of transaction represents the amount
pending to be received from pooling bank account and payment gateway for
successful online transaction completed by the customer of the merchant into the
nodal accounts. These amounts once collected in Nodal account will be utilized for
payment to the merchants.

Payable for settlement of transactions:

The balance in payable for settlement of transaction represents the amount pending
to be paid to merchant for successful online transaction completed by the customer
of the merchant. The amount for the nodal accounts are transferred to the merchant
designated bank account as per RBI guidelines, after deducting applicable charges.

Note 33 : Undisclosed Income :

The Company do not have any transaction not recorded in the books of accounts that
has been surrendered or disclosed as income during the year in the tax assessments
under the Income-tax Act, 1961 (such as, search or survey or any other relevant
provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded
income and no additional assets were required to be recorded in the books of
account during the year.

Note 34 :

Title deeds of Immovable Property not held in name of the Company The company
does not hold any immovable property not held in the name of the company.

Note 35 Utilisation of Borrowed funds and share premium

The Company has not advanced or loaned or invested funds (either borrowed funds
or share premium or any other sources or kind of funds) to any other person(s) or
entity(ies), including foreign entities ("Intermediaries”) with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall

i. directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries”); or

ii. provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.

The Company has not received any fund from any person(s) or entity(ies), including
foreign entities ("Funding Party”) with the understanding (whether recorded in writing
or otherwise) that the company shall

i. directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries);
or

ii. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

---

Mar 31, 2024

(f) Provisions and Contingencies

A provision Is recognised when the Company has a present 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 not discounted to their present value 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. Contingent liabilities
are disclosed in the Notes. Contingent assets are not recognised in the financial statements

Provisions are measured at the estmated expenditure required to settle the present obligation, based on the most reliable evidence available
at the reporting date, including the nsks and uncertainties associated with the present obligation. Where there are a number of s*nilar
obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole.
Provisions are discounted to their present values, where the time value of money is material

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or
a reliable estimate of the amount cannot be made. Contingent assets are neither recognised nor disclosed in the financial statements.

(g) 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.

__Recognition. Initial measurement and derecognition _

Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the financial
instrument and are measured initially at fair value adjusted by transactions costs, except for those earned at fair value through profit or loss

__which are measured initially at fair value._

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primanly derecognised
(i.e. removed from the Company''s balance sheet) when:

__1. The rights to receive cash flows from the asset have expired, or_

2. The Company has transferred its nghts 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-through'' arrangement; and either (a) the Company has transferred substantially
all the nsks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially ail the risks and rewards of the
asset, but has transferred control of the asset.

Classification and subsequent measurement of financial assets

For the purpose of subsequent measurement, financial assets other than those designated and effective as hedging instruments are
__classified into the following categories upon initial recognition:_

1. Debt instruments, derivatives and eouitv instruments at fair value through profit or loss (FVTPL)

[Debt instruments at fair value through profit or loss : FVTPL is a residual category for debt instruments. Any debt instrument, which does
not meet the criteria for categorization as at amortized cost or as FVFOC1, is classified as at FVTPL

In addition, the company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL
However, such election is alloved only if doing so reduces or elkninates a measurement or recognition inconsistency (referred to as
''accounting mismatch''). Debt instruments included within the FVTPL category are measured at fair value with all changes recognized in the
P8d_.

2. Debt instruments at Amortised cost: A ''debt instrument'' is measured at the amortised cost if both the following conditions are met:

a. The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

b. Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of prinopal and interest (SPP!) on the

__principal amount outstanding._

__j^Eauity-instfumsMs_

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading and contingent
consideration recognised by an acquirer in a business combination to which Ind AS 103 applies are classified as at fair value through profit
and loss (FVTPL). For all other equity instruments, the Company may make an irrevocable election to present in other comprehensive
income subsequent changes in the fair value. The Company makes such election on an instrument by-instrument basis. The classification is
made on initial recogmbon and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends,
are recognized in OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, the Company may
transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognised in the statement of Profit and
Loss.

Impairment of financial assets

The Company is required to recognise expected credit losses (ECLs) based on forward-looking information for all financial assets at
amortised cost, lease receivables, debt financial assets, loan commitments and financial guarantee contracts. No impaiiment loss is
applicable on equity investments.

At the reporting date, an allowance (or provision for loan commitments and financial guarantees) is required for the 12 month ECLs. If the
credit nsk has significantly increased since initial recognition (Stage 1), an allowance (or provision) should be recognised for the lifetime ECLs
for financial instruments for which the credit rtsk has increased significantly since initial recognition (Stage 2) or which are credit impaired
(Stage 3).

The measurement of ECL is calculated using three main components: (i) probability of default (PD) (ii) loss given default (LGD) and (lii) the
exposure at default (EAD). The 12 month and lifetime PDs represent the PD occurring over the next 12 months and the remaining maturity
of the instrument respectively. The EAD represents the expected balance at default, taking into account the repayment of principal and
interest from the balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents
expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of collateral value
at the time it is expected to be realised and the time value of money.

The Company applies a three-stage approach to measure ECL on financial assets accounted for at amortised cost. Assets migrate through
the following three stages based on the change in credit quality since initial recognition.

1, Stage 1; 12-mpnths ECU

For exposures where there has not been a significant increase in credit risk since initial recognition and that are not credit impaired upon
origination, the portion of the lifetime ECL associated with the probability of default events occurring within the next 12 months is
recognised. Exposures with days past due (DPD) less than or equal to 29 days are classified as stage 1. The Company has identified zero
bucket and bucket with DPD less than or equal to 29 days as two separate buckets.

___2. Staoe 2; Lifetime Eg - not credit impaired

For credit exposures where there has been a significant increase in credit nsk since initial recognition but that are not credit impaired, a
lifetme ECL is recognised. Exposures with DPD equal to 30 days but less than or equal to 89 days are classified as stage 2. At each reporting
date, the Company assesses whether there has been a significant increase in credit nsk for financial asset since initial recognition by
comparing the risk of default occurring over the expected life between the reporting date and the date of initial recognition. The Company
has identified cases with DPD equal to or more than 30 days and less than or equal to 59 days and cases with DPD equal to or more than 60
days and less than or equal to 89 days as two separate buckets.

__3, Stage ?¦ lifetime eo, - credit impaired

Financial asset is assessed as credit impaired when one or more events that have a detrimental impact on the estmated future cash flows of
that asset have occurred. For financial asset that have become credit impaired, a lifetime ECL is recognised on principal outstanding as at
period end. Exposures with DPD equal to or more than 90 days are classified as stage 3.

A loan that has been renegotiated due to a deterioration in the borrower''s condition is usually considered to be credit-impaired unless there
is evidence that the risk of not receiving contractual cash flows has reduced significantly and there are no other indicators of impairment.
ECL is recognised on EAD as at period end.

If the terms of a financial asset are renegotiated or modified due to financial difficulties of the borrower, then such asset is moved to stage
3, lifetime ECL under stage 3 on the outstanding amount is applied.

The Company assesses when a significant increase in credit nsk has occurred based on quantitative and qualitative assessments. Exposures
are considered to have resulted in a significant increase in credit risk and are moved to Stage 2 when:

1. Quantitative test: Accounts that are 30 calendar days or more past due move to Stage 2 automatically. Accounts that are 90 calendar
days or more past due move to Stage 3 automatically.

2. Qualitative test: Accounts that meet the portfolio''s ''high risk'' criteria and are subject to closer credit momtonng. High nsk customers may
not be in arrears but either through an event or an observed behaviour exhibit credit distress.

3. Reversal in Stages: Exposures will move back to Stage 2 or Stage 1 respectively, once they no longer meet the quantitative cntena set out
above. For exposures classified using the qualitative test, when they no longer meet the criteria for a significant increase in credit nsk and
when any cure cntena used for credit nsk management are met.

The definition of default for the purpose of determining ECLs has been aligned to the Reserve Bank of India definition of default, which
considers indicators that the debtor is unlikely to pay and is no later than when the exposure is more than 90 days past due.

The Company continues to incrementally provide for the asset post initial recognition in Stage 3, based on its estimate of the recovery.

_ DerecoonitwnofFinancjalAssets__

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognised when:

__1) the rights to receive cash flows from the asset have expired, or_

2) the Company has transferred its rights to receive cash flows from the asset and substantially all the nsks and rewards of the asset, or the
Company has neither transferred nor retained substantially all the nsks and rewards of the asset, but has transferred control of the asset

If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to
recognise the financial asset and also recognises a collateralised borrowing for the proceeds received.

__Classification and subsequent measurement of financial liabilities_

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable
transaction costs.

The Company''s financial liabilities include trade payables, other payables, loans and borrowings
_The Company classifies all financial liabilities as subsequently measured at amortised cost_

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the EIR method. Gains
and losses are recognised in the statement of profit and loss when the liabilities are derecognised as well as through the EIR amortisation
process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral
part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss.

__(hi j trade and other Payables

The Company does not have system of obtaining periodical confirmation of balances relating to trade receivables, trade payables, loans and
advances, borrowings and current liabilities and is in the process of establishing the same and complying it henceforth

__Derecognition of Financial Liabilities_

The Company derecognises financial liabilities when, and only when, the Company''s obligations are discharged, cancelled or have expired.
The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in
profit or loss.

(i) Going Concern Assumption

The financial statements have been prepared assuming entity will be able to continue its opreation in near foreseeable futuer and there is no
material circumstances casting doubt over going concern ability of company and neither management intends to liquidate its operation.

(J) Fair value measurement

The Company measures financial instruments such as, investment in equity shares, at fair value on initial recognition

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:_

_ 1. In the pnncipal market for the asset or liability, or

___2. In the absence of a principal market, in the most advantageous market for the asset or liability_

The pnncipal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or
liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-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.

All assets and liabilities for which fair value is measured or disclosed in the financial Statement are categorised 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:

1. Level 1 - Inputs are quoted (unadjusted) market prices in active markets for identical assets or liabilities that the entity can access at the
measurement date.

2. Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement are other than quoted
prices induded within Level 1 that are observable for the asset or liability, either directly or indirectly.

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

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature,
characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above. This note summarizes accounting
policy for fair value. Other fair value related disclosures are given in the relevant notes.

(K) Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably
measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable,
taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government

1. Interest income: Interest income from a financial asset is recognised using effective interest rate method.

2. Other income: Other income is recognized only when it is reasonably certain that the ultimate collection will be made.

3. Dividend income:Dividend income is recognized when the Company''s right to receive payment is established.

(L) Leases

Ind AS 116 sets out the principles for the recognition, measurement and disclosure of leases for both lessees and lessors. A lessee
recognises right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease

__payments._

For short term and low value leases, the Company recognizes the lease payments as an operating expense on a straight line basis over the
__lease term._

(m) Income taxes

The Company has not filed income tax return for earlier assessment years 2020-21 and 2022-23.

Tax expense recognised in the statement of profit and loss comprises the sum of deferred tax and current tax not recognised in OCI or

__directly in equity._

Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income-tax Act
Current income tax relating to items recognised outside statement of profit and loss is recognised outside statement of profit and loss (either
__in OCI or in equity)._

Deferred income taxes are calculated using the liability method. Deferred tax liabilities are generally recognised in full for all taxable
temporary differences. Deferred tax assets are recognised to the extent that it is probable that the underlying tax loss, unused tax credits or
deductible temporary difference will be utilized against future taxable income. This is assessed based on the Company''s forecast of future
operating results, adjusted for significant nontaxable income and expenses and specific limits on the use of any unused tax loss or credit.
Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that
future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the
liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax
relating to items recognised outside statement of profit and loss is recognised outside statement of profit and loss (either in OCI or in
equity).

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax
liabilities and the deferred taxes relate to the same taxation authority.

(n) Borrowing costs

Borrowing costs are expensed in the period in which they are incurred and reported in finance costs. It also indude interest expense
__calculated using the effective interest method._

(o) Employee benefits
__Improvident Fund

Retirement benefit in the form of Provident Fund is a defined contribution scheme. The Company has no obligation, other than the
contribution payable to the provident fund. The Company recognises contnbubon payable to the provident fund scheme as an expense,

__when an employee renders the related service._

_2. Gratuity

Gratuity is in the nature of a defined benefit plan. Provision for gratuity is calculated on the basis of actuarial valuations carried out at
balance sheet date and is charged to the statement of profit and loss. The actuarial valuation is performed using the projected unit credit
method. Remeasurement, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest
on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit
liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through CXI in the period
in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.

_3. Compensates Absences

The company provides Privilege Leave to it‘s employees in India. Provision for leave encashment is calculated on the base of actuarial
valuations carried out at balance sheet date and is charged to the statement of profit and loss. Privilege leave is computed on calendar year
basis, however, any unavailed privilege leaves upto 45 days will be earned forward to the next calendar year. Privilege leave can only be
encashed at the time of retirement / termination / resignation / withdrawal and is computed as no. of privilege leaves multiplied with
applicable salary for leave encashment. The company''s liability towards privilege leaves is determined on the basis of year end actuarial
valuations applying the Projected Unit Credit Method (as per Ind AS 19) done by an independent actuary.

__Disclosures in respect of above, if any, are provided as per the requirement of the local law,_

(p) Earnings per share

Basic earnings per share is calculated by dividing the net profit / (loss) for the year attributable to equity shareholders (after deducting
preference dividends and attributable taxes) by weighted average number of equity shares outstanding during the year. For the purpose of
calculating diluted earnings per share, the net profit / (loss) for the year attributable to equity shareholders and the weighted average
numbers of shares outstanding during the year are adjusted far the effects of all dilutive potential equity shares. Dilutive potential equity
shares are deemed converted at the beginning of the year and not issued at a later date.

In computing the diluted EPS, potential equity shares that either increase earnings per share or decrease loss per equity share, being anti¬
dilutive are ignored.

(q) Segment Reporting Policies:

Segment reporting as Ind-As 108 is not applicable as management has determined that the company is involved in financing and investment
__activity and operates under single chief operating decision maker w.e.f April 1. 2023_

(r) Prior period errors and omissions

The Company has not done the retrospective adjustment of prior period errors and omissions by restating the comparative amounts for pnor
period presented or, where the errors relate to the period(s) before the earliest prior period presented, restating the opening balance of
assets, liabilities and equity for that period and accounted the same in the current year ended March 31, 2024.

(s) Others

The Company has not ascertained nor accrued for Good and Services Tax (GST) liability under reverse charge mechanism in the financial
¹ statements. The Company is in the process of ascertaining the same and will accrue it once ascertained

.... The Company did not have an internal audit dunng the year ended March 31, 2024 and appointed internal audit on November 18, 2024 to
¹ '' carry out internal audit for the financial years 2023-24 and 2024-25.

(T) Events after Reporting date

There have been no events after the reporting date that require disclosure in these standalone financial statements

Gratuity is payable as per entity''s scheme as detailed in the report.

Actuarial gains/losses are recognized in the period of occurrence under Other Comprehensive Income (OCI). All
above reported figures of OCI are gross of taxation. Since it is the first year of the company’s valuations, we
have considered the Current Service Cost to be the same as the Defined Benefit Obligation

Salary escalation & attrition rate are considered as advised by the entity; they appear to be in line with the
industry practice considering promotion and demand & supply of the employees.

Maturity Analysis of Benefit Payments is undiscounted cashflows considering future salary, attrition & death
in respective year for members as mentioned above.

Average Expected Future Service represents Estimated Term of Post - Employment Benefit Obligation.

Weighted Average Duration of the Defined Benefit Obligation is the weighted average of cash flow timing,
where weights are derived from the present value of each cash flow to the total present value.

Any benefit payment and contribution to plan assets is considered to occur at the end of the period to depict
liability and fund movement in the disclosures.

Para 139 (a) Characteristics of defined benefit plan

The Entity has a defined benefit gratuity plan in India (unfunded). The Entity''s defined benefit gratuity plan is a
final salary plan for employees.

Gratuity is paid from entity as and when it becomes due and is paid as per entity scheme for Gratuity.

Para 139 (b) Risks associated with defined benefit plan

Gratuity is a defined benefit plan and entity is exposed to the Following Risks:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of
the liability requiring higher provision.

Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future
salaries of members. As such, an increase in the salary of the members more than assumed level will increase
the plan''s liability.

Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Entity has to manage
pay-out based on pay as you go basis from own funds.

Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age only,
plan does not have any longevity risk.

C. Financial risk management

Risk management framework

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company''s risk management framework. The Company''s risk
management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and
adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes In market conditions and the Company''s activities. The
Company, through Its training and management standards and procedures, aims to maintain a disciplined and constructive control environment In which all
employees understand their roles and obligations.

The Company has exposure to the following risks arising from financial instruments:

1. Credit risk

2. Liquidity risk and

3. Market risk

1. Credit risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due to the Company causing financial loss. It
arises from cash and cash equivalents, deposits with banks and financial institutions, security deposits, loans given and principally from credit exposures to
customers relating to outstanding receivables. The Company''s maximum exposure to credit risk is limited to the carrying amount of financial assets recognised at
reporting date. The Company continuously monitors defaults of customers and other counterparties, identified either individually or by the Company, and
incorporates this information into its credit risk controls. Where available at reasonable cost, external credit ratings and/or reports on customers and other
counterparties are obtained and used. The Company''s policy is to deal only with creditworthy counterparties.

In respect of trade and other receivables, the Company is not exposed to any significant credit risk exposure to any single counterparty or any company of
counterparties having similar characteristics. Trade receivables consist of a large number of customers in various geographical areas. The Company has no history of
customer default, and considers the credit quality of trade receivables that are not past due or impaired to be good. The credit risk for cash and cash equivalents,
mutual funds, bank deposits, loans and derivative financial instruments is considered negligible, since the counterparties are reputable organisations with high
quality external credit ratings. Company provides for expected credit losses on financial assets by assessing individual financial instruments for expectation of any
credit losses. Since the assets have very low credit risk, and are for varied natures and purpose, there is no trend that the company can draws to apply consistently
to entire population. For such financial assets, the Company''s policy is to provide for 12 month expected credit losses upon Initial recognition and provides for
lifetime expected credit losses upon significant increase in credit risk. The Company does not have any expected loss based impairment recognised on such assets
considering their low credit risk nature, though incurred loss provisions are disclosed under each sub-category of such financial assets.

2. Liquidity risk

Liquidity Risk is defined as the risk that the Company will not be able to settle or meets its obligations on time at a reasonable price In addition; processes and
policies related to such risks are overseen by senior management. Management monitors the Company''s net liquidity through rolling forecasts of expected cash
flows.

Exposure to liquidity risk

The table below is an analysis of Company''s financial liabilities based on their remaining contractual maturities of financial liabilities at the reporting date.

(T In Lakhs)

3. Market risk

Market risk that the fair value or future cash flows of financial instruments will fluctuate due to changes in market variables such as interest rates, foreign exchange
rates and equity prices Changes in market prices which will affect the Company''s income or the value of its holdings of financial instruments is considered as market
risk. It is attributable to all market risk sensitive financial instruments.

a. Currency risk

The Company continues to assess the legal proceedings periodically. The estimates of provisions and contingent liabilities may change over time, depending on the
evolution of the litigations and the outcome of judicial decisions or settlements

The Company maintains an actively managed capital base to cover risks inherent in the business which includes issued equity capital, securities premium
and all other equity reserves attributable to equity holders of the Company.

As an NBFC, the RBI requires us to maintain a minimum capital to risk weighted assets ratio ("CRAR") consisting of Tier I and Tier II capital of 15% of
our aggregate risk weighted assets. Further, the total of our Tier n capital cannot exceed 100% of our Tier I capital at any point of time. The capital
management process of the Company ensures to maintain a healthy CRAR at all the times. Refer note 35 (Analytical Ratios) for the Company''s Capital
ratios.

The primary objectives of the Company''s capital management policy are to ensure that the Company complies with externally imposed capital
requirements and maintains strong credit ratings and healthy capital ratios in order to support its business and to maximise shareholder value.

The Company manages Its capital structure and makes adjustments to It according to changes In economic conditions and the risk characteristics of Its
activities. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividend payment to shareholders, return capital to
shareholders or Issue capital securities. No changes have been made to the objectives, policies and processes from the previous years except those
Incorporated on account of regulatory amendments. However, they are under constant review by the Board. The Company has not complied with the
notification RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 "Implementation of Indian Accounting Standards.

---

Mar 31, 2014

Note: 1

In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2

The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3

Related party Disclosures: No related party transaction was carried out during the year.

Note: 4

In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

Note: 5

No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 6

Previous year''s figures have been regrouped /rearranged wherever necessary.

Signature to Notes ''1'' to ''22''. As per our report on even date

---

Mar 31, 2013

Note: 1

In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2

The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3

Related party Disclosures: No related party transaction was carried out during the year.

Note: 4

In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

Note: 5 Earnings per Share Current Year Previous Year

(a) Net profit /(Loss) after tax available for equity shareholders ( Rs./lacs) (358216) (158009)

(b) Equity Shares of Rs.10/? each outstanding (No. of Shares) 5000000 2500000 (c ) Basic / Diluted Earning per Share (Rs.) (a / b) (0.14) (0.06)

Note: 5

No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 6

Previous year''s figures have been regrouped /rearranged wherever necessary.

---

Mar 31, 2012

Note: 1

In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for ail known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2

The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3

Related party Disclosures: No related party transaction were carried out during the year.

Note: 4

In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

Note: 5

No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 6

Previous year''s figures have been regrouped /rearranged wherever necessary.

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Mar 31, 2010

1. In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

2. The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

3. The companys Loans & Advances to corporate bodies is of Rs.7,32,264/- and investment of Rs 85,30,150/- in other companies.

4. Related party Disclosures

1. Relationship

Related party disclosures, as required by AS-18,"Related Party Disclosures" are given below:

(i) List of Companies under common control: NA

(ii) Enterprises over which Key management personnel / Relatives have significant influence:

NA

(iii) Key Managerial Person NA

5. In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

6 No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

7. Figures in brackets indicate figures relating to the previous year.

8. Previous years figures have been regrouped /rearranged wherever necessary.

9. Other Clause of Part II of Schedule VI of the Companies Act, 1956 are either NIL OR NOT APPLICABLE.