Indian Infotech & Software Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

K. Provisions, Contingent Liabilities and Contingent Assets
Provisions

Provisions are recognised when The Holding Company has a present obligation (legal or constructive) as a result of past
events, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation,
and a reliable estimate can be made of the amount of the obligation. When the effect of the time value of money is material,
The Holding Company determines the level of provision by discounting the expected cash flows at a pre-tax rate reflecting
the current rates specific to the liability. The expense relating to any provision is presented in the Statement of Profit and
Loss net of any reimbursement.

Contingent assets/liabilities

A possible obligation that arises from past events and 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 Holding Company or; present
obligation that arises from past events where it is not probable that an outflow of resources embodying economic benefits
will be required to settle the obligation; or the amount of the obligation cannot be measured with sufficient reliability are
disclosed as contingent liability and not provided for. Contingent assets are disclosed where an inflow of economic benefits
is probable. Contingent assets are not recognised in the financial statements.

Provisions, contingent liabilities and contingent assets are reviewed at each Balance Sheet date.

Where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be
received under such contract, the present obligation under the contract is recognised and measured as a provision.

L. Borrowing Cost

Borrowing costs include interest expense calculated using the EIR on respective financial instruments measured at amortized
cost, finance charges in respect of assets acquired on finance lease and exchange differences arising from foreign currency
borrowings to the extent they are regarded as an adjustment to interest costs.

The effective interest rate (EIR) is the rate that exactly discounts estimated future cash flows through the expected life of the
financial instrument to the gross carrying amount of the financial liability.

Calculation of the EIR includes all fees paid that are incremental and directly attributable to the issue of a financial liability.

While computing the capitalization rate for funds borrowed generally, an entity should exclude borrowing costs applicable
to borrowings made specifically for obtaining a qualifying asset, only until the asset is ready for its intended use or sale.
Borrowing costs (related to specific borrowings) that remain outstanding after the related qualifying asset is ready for
intended use or for sale would

Subsequently be considered as part of the general borrowing costs of the entity.

M. Earnings per Share

Basic earnings per share have been computed by dividing net income attributable to ordinary equity holders by the weighted
average number of shares outstanding during the year. Partly paid-up equity share is included as fully paid equivalent
according to the fraction paid up.

Diluted earnings per share have been computed using the weighted average number of shares and dilutive potential shares,
except where the result would be anti-dilutive.

N. Other comprehensive income Under Ind AS

All items of income and expense recognised in a period should be included in profit or loss for the period unless a standard
requires or permits otherwise. Items of income and expense that are not recognised in profit or loss but are shown in the
statement of profit and loss as ‘other comprehensive income’ includes re-measurements of defined benefit plans and fair
value gains or (losses) on FVTOCI. The concept of other comprehensive income did not exist under previous GAAP.

S. Employee benefits

Defined Contribution benefits include superannuation fund.

Defined Employee benefits include gratuity fund, provident fund compensated absences and
long service awards.

Defined contribution plans

The Company''s contribution to superannuation fund is considered as defined contribution plan and is charged as an expense
in the Statement of Profit and Loss based on the amount of contribution required to be made and when services are rendered
by the employees.

Defined benefit plans

For defined benefit plans in the form of gratuity, the cost of providing benefits is determined using the Projected Unit Credit
method, with actuarial valuations being carried out at each Balance Sheet date. As per Ind AS 19, the service cost and the net
interest cost are charged to the Statement of Profit and Loss. Remeasurement of the net defined benefit liability, which
comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any,
excluding interest), are recognised in Other Comprehensive Income. Past service cost is recognised immediately to the extent
that the benefits are already vested. The retirement benefit obligation recognised in the Balance Sheet represents the present
value of the defined benefit obligation as adjusted for unrecognized past service cost, as reduced by the fair value of scheme
assets. Any asset resulting from this calculation is limited to past service cost, plus the present value of available refunds and
reductions in future contributions to the schemes.

Short-term employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised during the year when the employees render the service. These benefits include performance
incentive and compensated absences which are expected to occur within twelve months after the end of the reporting period
in which the employee renders the related service.

The cost of short-term compensated absences is accounted as under:

(a) in case of accumulated compensated absences, when employees render the services that increase their entitlement of
future compensated absences; and

(b) in case of non-accumulating compensated absences, when the absences occur.

Other long-term employee benefits

Compensated absences which are not expected to occur within twelve months after the end of the year in which the employee
renders the related service are recognized as a liability at the present value of the defined benefit obligation as at the balance
sheet date less the fair value of the plan assets out of which the obligations are expected to be settled. Long term service
awards are recognized as a liability at the present value of the defined benefit obligation as at the balance sheet date.

The obligation is measured on the basis of actuarial valuation using projected unit credit method and remeasurements gains/
losses are recognized in P&L in the period in which they arise.

Share based payment transaction

The stock options of the Company, granted to employees pursuant to the Company’s Stock Options Schemes, are measured
at the fair value of the options at the grant date as per Black and Scholes model. The fair value of the options is treated as
discount and accounted as employee compensation cost, with a corresponding increase in other equity, over the vesting period
on a straight-line basis. The amount recognised as expense in each year is arrived at based on the number of grants expected
to vest. If a grant lapses after the vesting period, the cumulative discount recognised as expense, with a corresponding increase
in other equity, in respect of such grant is transferred to the General reserve within other equity.

T. Events after reporting date

Where events occurring after the balance sheet provide evidence of condition 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.

U. Non-Current Assets held for sale

Non-current assets are classified as held for sale if their carrying amount is intended to be recovered principally through a
sale (rather than through continuing use) when the asset is available for immediate sale in its present condition subject only
to terms that are usual and customary for sale of such asset and the sale is highly probable and is expected to qualify for
recognition as a completed sale within one year from the date of classification.

Non-current assets classified as held for sale are measured at lower of their carrying amount and fair value less costs to sell.

The Company has a policy to make impairment provision at one third of the value of the Asset for each year upon completion
of three years up to the end of five years based on the past observed pattern of recoveries. Losses on initial classification as
Held for sale and subsequent gains & losses on remeasurement are recognized in Statement of Profit and loss. Once classified
as Held for sale, the assets are no longer amortized or depreciated.

V. Fair Value

The Company measure financial instruments at fair value in accordance with the accounting policies mentioned above. 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 the absence of a principal market, in the most advantageous market for the asset or liability.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy that categorizes into three levels, described as follows, the inputs to valuation techniques used to measure
value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities
(Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs)

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

Level 2- Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
or indirectly

Level 3- Inputs that are unobservable for the asset or liability.

For assets and liabilities that are recognized in the financial statements at fair value on a 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.

W. Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow
from operating activities is reported using indirect method adjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a non-cash nature,

ii. non-cash items such as depreciation, Impairment, deferred taxes, unrealized foreign currency gains and losses, and
undistributed profits of associates and joint ventures; and

iii. all other items for which the cash effects are investing or financing cash flows.

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are not
available for general use as on the date of Balance Sheet.

X. Recent Amendments

The following amendments to standards have been issued and will be effective from April 01, 2022. The Company is
evaluating the requirements of these standards, improvements and amendments and has not yet determined the impact on the
financial statements.

i. Indian Accounting Standard (Ind AS) 103 - Business Combinations - Qualifications prescribed for recognition of the
identifiable assets acquired and liabilities assumed, as part of applying the acquisition method - should meet the definition
of assets and liabilities in the Conceptual Framework for Financial Reporting under Ind AS (Conceptual Framework) issued
by the ICAI at the acquisition date. Modification to the exceptions to recognition principle relating to contingent liabilities
and contingent assets acquired in a business combination at the acquisition date.

ii. Indian Accounting Standard (Ind AS) 109 - Financial Instruments - Modification in accounting treatment of certain costs
incurred on derecognition of financial liabilities.

iii. Indian Accounting Standard (Ind AS) 16 - Property, Plant and Equipment - Modification in treatment of excess of net
sale proceeds of items produced over the cost of testing as part of cost of an item of property, plant, and equipment.

iv. Indian Accounting Standard (Ind AS) 37 - Provisions, Contingent Liabilities and Contingent Assets - Modifications in
application of recognition and measurement principles relating to onerous contracts.

11. No disclosure is required under Ind AS-105 on "Discontinuing Operations” issued by the Institute of Chartered
Accountants of India as the company has not discontinued any line of its activity/product line during the year.

12. Deferred Tax Asset / Deferred T ax Liability: NIL

13. RELATED PARTY TRANSACTIONS:

1. Related Parties particulars pursuant to “Ind Accounting Standard - 24”

14. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year’s

classification.

As per our report of even date

For and on behalf of For and on behalf of board of directors

ADV & Associates Indian Infotech and Software Limited

Chartered Accountants
FRN: 128450W
SD/-

CA. Prakash Mandhaniya Anant Chourasia Mushaid A. Khan

Partner Managing Director Company Secretary

Membership No. : 421679 DIN: 09305661 PAN: BMLPK4089F

Aksha Bihani Bhairu Ratan Ojha

Place: Mumbai Director CFO

Date: 28^th May 2025 DIN: 08102933 PAN: AAGPO7260E

UDIN: 25421679BMTFBV7921

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Mar 31, 2024

(a) Introduction

As a financial institution, Company is exposed to various types of risks namely credit risk, liquidity risk, market risks, operational risk, strategic risk (including emerging & external risks) and compliance & reputation risk. We have adopted a holistic and data driven enterprise level risk management approach which includes monitoring both internal and external indicators.

We as an organization periodically adjust our strategy in cognizance with industry risk dynamics and emergence of new challenges and opportunities.

The purpose of risk management is the creation and protection of value. Company’s risk management framework has been laid down with long term sustainability and value creation keeping in mind:

• Build profitable and sustainable business with conservative risk management approach.

• Have risk management as an integral part of the organization’s business strategy.

• Undertake businesses that are well understood and within acceptable risk appetite.

• Manage the risks proactively across the organization.

• Adopt best risk management practices with resultant shareholder value creation and increased stakeholder confidence.

• Develop a strong risk culture across the organization.

The risk management practices of Company are compliant with ISO 31000: 2018 which is the international standard for risk management that lays down principles, guidelines and framework for risk management in an organisation.

(b) Company’s Risk Management Approach for handling various type of risks

i) Cre dit risk:

Credit risk is the risk of financial loss arising out of a customer or counterparty failing to meet their repayment obligations to the Company. The Company assesses the

credit quality of all financial instruments that are subject to credit risk.

Classification of financial assets under various stages

The Company classifies its financial assets in three stages having the following characteristics:

Stage 1: unimpaired and without significant increase in credit risk since initial recognition;

Stage 2: a significant increase in credit risk since initial recognition on which a lifetime ECL is recognised;

Stage 3: objective evidence of impairment, and are therefore considered to be in default or otherwise credit impaired on which a lifetime ECL is recognised.

Unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk.

The Company has calculated ECL using three main components: a probability of default (PD), a loss given default (LGD) and the exposure at default (EAD) along with an adjustment considering forward macro economic conditions [for a detailed note for methodology of computation of ECL please refer to significant accounting policies note no 1(L) to the financial statements.

The table below summarises the gross carrying values and the associated allowances for expected credit loss (ECL) stage wise for loan portfolio:

Investments are reviewed for ary fair valuation loss on periodically basis and necessary provision/fair valuation adjustments has been made based on the valuation carried by the management to the extent available sources, the management does not expect any investment counterparty to fail to meet its obligations.

Trade Receivable, Trade Payable, Short Term Borrowings and Short Term Loans and Advances balances are subject to confirmation and reconciliation

ii) Market Risk

Market risk is risk due to change in market prices — e.g. interest rates, equity prices, foreign exchange rates and credit spreads, but not relating to changes in the obligor’s/issuer’s credit standing and will affect the Company''s income or the value of its holdings of financial instruments. The objective of the Company''s market risk management is to manage and control market risk exposures within acceptable risk tolerances levels to ensure the solvency and minimum volatility while optimising the balance between profitability and managing associated risks.

Under Liquidity Risk Management (LRM) framework for the Company, ALCO sets up limits for each significant type of risk/aggregated risk with liquidity being a primary factor in determining the level of limits. The monitoring of risk limits defined as per ALM policy is done by ALCO on regular basis. The Company has Asset Liability Management (ALM) support Company prescribed by RBI which meets on regular basis to ensure internal controls and reviews the liquidity risk management of the Compaq.

iii) Operational Risk

Operational Risk has been defined as “The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events “The risk of direct or indirect potential loss arising from a wide variety of causes associated with the Compaq''s processes, personnel, systems, or from external factors other than strategic and reputation risk Management of operational risk forms an integral part of Company’s enterprise wide risk management systems. The organisation thrives towards incremental improvements to its operational risk management framework to address the dynamic industry landscape. Clear strategies and oversight by the Board of Directors and senior management, a strong operational risk management culture, effective internal control and reporting and contingency planning are crucial elements of Company’s operational risk management framework.

iv) Regulatory and Compliance Risk

Regulatory compliances are handled by Finance team, Treasury and Business teams in consultation with Company Compliance team Statutory compliances are handled by Company Secretarial team, Administrative and people process related compliances are handled by Administration & HR departments.

Additionally, Risk team coordinates for Special Mention Accounts (SMA) and Fraud reporting in line with regulatory guidelines.

As per regulatory requirements, required policies are adopted, modified and rolled from time to time. Compliance to the defined policies is strictly adhered to.

(c) Liquidity Risk management

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding to meet obligations when due. Due to the dynamic nature of the underlying businesses, Company’s treasury maintains flexibility in funding by maintaining sufficient cash and bank balances available to meet the working capital requirements. Management monitors rolling forecasts of the Company’s liquidity position (comprising the unused cash and bank balances along with liquid investments) on the basis of expected cash flows. This is generally carried out at Company level in accordance with practice and limits set by the Company. These limits vary to take into account the liquidity of the market in which the Company operates.

Ultimate responsibility for liquidity risk management rests with the board of directors. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial

Q) Capital Management

The company’s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital

The capital structure of the Company is based on management’s judgement of the appropriate balance of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

2. No Contingent Liability as on 31.03.2024

3. The amount of Exchange difference (Net) debited to the profit & Loss Account for the Year

is NIL

4. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

5. The Loans & Advances are repayable on Demand, hence they are classified as Short-term Loans & Advances and not taken at Present Value of the Loan.

6. The Loans & Liabilities pertaining to the Company are Repayable on Demand, hence they are classified as Shortterm Borrowing and not taken at the Present Value of the Loan.

8. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

9. In determining Earning per share as per Ind AS - 33, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31^st March, 2024.

10. The Cash Flow Statement As per Ind AS 7 is as per Annexure.

11. No disclosure is required under Ind AS-105 on "Discontinuing Operations” issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

12. Deferred Tax Asset / Deferred Tax Liability: NIL

14. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year’s classification.

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Mar 31, 2023

a) Terms and rights attached to equity shares

The Company has only one class of equity share having value of Re. 1 each with an entitlement of one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the annual general meeting. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the 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.

(b) Introduction

As a financial institution, Company is exposed to various types of risks namely credit risk, liquidity risk, market risks, operational risk, strategic risk (including emerging & external risks) and compliance & reputation risk. We have adopted a holistic and data driven enterprise level risk management approach which includes monitoring both internal and external indicators.

We as an organization periodically adjust our strategy in cognizance with industry risk dynamics and emergence of new challenges and opportunities.

The purpose of risk management is the creation and protection of value. Company’s risk management framework has been laid down with long term sustainability and value creation keeping in mind:

• Build profitable and sustainable business with conservative risk management approach.

• Have risk management as an integral part of the organization’s business strategy.

• Undertake businesses that are well understood and within acceptable risk appetite.

• Manage the risks proactively across the organization.

• Adopt best risk management practices with resultant shareholder value creation and increased stakeholder confidence.

• Develop a strong risk culture across the organization.

The risk management practices of Company are compliant with ISO 31000: 2018 which is the international standard for risk management that lays down principles, guidelines and framework for risk management in an organisation.

(b) Company’s Risk Management Approach for handling various type of risks

i) Credit risk:

Credit risk is the risk of financial loss arising out of a customer or counterparty failing to meet their repayment obligations to the Company. The Company assesses the credit quality of all financial instruments that are subject to credit risk.

Classification of financial assets under various stages

The Company classifies its financial assets in three stages having the following characteristics:

Stage 1: unimpaired and without significant increase in credit risk since initial recognition;

Stage 2: a significant increase in credit risk since initial recognition on which a lifetime ECL is recognised;

Stage 3: objective evidence of impairment, and are therefore considered to be in default or otherwise credit impaired on which a lifetime ECL is recognised.

Unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk.

The Company has calculated ECL using three main components: a probability of default (PD), a loss given default (LGD) and the exposure at default (EAD) along with an adjustment considering forward macro economic conditions [for a detailed note for methodology of computation of ECL please refer to significant accounting policies note no 1(L) to the financial statements.

The table below summarises the gross carrying values and the associated allowances for expected credit loss (ECL) stage wise for loan portfolio:

Investments are reviewed for any fair valuation loss on periodically basis and necessary provision/fair valuation adjustments has been made based on the valuation carried by the management to the extent available sources, the management does not expect any investment counterparty to fail to meet its obligations.

Trade Receivable, Trade Payable, Short Term Borrowings and Short Term Loans and Advances balances are subject to confirmation and reconciliation

ii) Market Risk

Market risk is risk due to change in market prices - e.g. interest rates, equity prices, foreign exchange rates and credit spreads, but not relating to changes in the obligor’s/issuer’s credit standing and will affect the Company''s income or the value of its holdings of financial instruments. The objective of the Company''s market risk management is to manage and control market risk exposures within acceptable risk tolerances levels to ensure the solvency and minimum volatility while optimising the balance between profitability and managing associated risks.

Under Liquidity Risk Management (LRM) framework for the Company, ALCO sets up limits for each significant type of risk/aggregated risk with liquidity being a primary factor in determining the level of limits. The monitoring of risk limits defined as per ALM policy is done by ALCO on regular basis. The Company has Asset Liability Management (ALM) support Company prescribed by RBI which meets on regular basis to ensure internal controls and reviews the liquidity risk management of the Company.

iii) Operational Risk

Operational Risk has been defined as “The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events “The risk of direct or indirect potential loss arising from a wide variety of causes associated with the Company''s processes, personnel, systems, or from external factors other than strategic and reputation risk Management of operational risk forms an integral part of Company’s enterprise wide risk management systems. The organisation thrives towards incremental improvements to its operational risk management framework to address the dynamic industry landscape. Clear strategies and oversight by the Board of Directors and senior management, a strong operational risk management culture, effective internal control and reporting and contingency planning are crucial elements of Company’s operational risk management framework.

iv) Regulatory'' and Compliance Risk

Regulatory compliances are handled by Finance team, Treasury and Business teams in consultation with Company Compliance team Statutory compliances are handled by Company Secretarial team, Administrative and people process related compliances are handled by Administration & HR departments.

Additionally, Risk team coordinates for Special Mention Accounts (SMA) and Fraud reporting in line with regulatory guidelines.

As per regulatory requirements, required policies are adopted, modified and rolled from time to time. Compliance to the defined policies is strictly adhered to.

(c) Liquidity Risk management

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding to meet obligations when due. Due to the dynamic nature of the underlying businesses, Company’s treasury maintains flexibility in funding by maintaining sufficient cash and bank balances available to meet the working capital requirements. Management monitors rolling forecasts of the Company’s liquidity position (comprising the unused cash and bank balances along with liquid investments) on the basis of expected cash flows. This is generally carried out at Company level in accordance with practice and limits set by the Company. These limits vary to take into account the liquidity of the market in which the Company operates.

Q) Capital Management

The company’s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management’s judgement of the appropriate baknce of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

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Mar 31, 2016

1. Corporate Information

INDIAN INFOTECH AND SOFTWARE LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in providing financial assistance for various business activities and trading & consultancy in Information Technology.

2. Basis of Preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. Pursuant to section 133 of the Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules 2014, till the standards of accounting or any addendum thereto are prescribed by the Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act, 1956 shall continue to apply. Accordingly, these financial statements have been prepared to comply in all material aspects with the Accounting Standards notified under section 211(3C) of the Companies Act, 1956, Companies (Accounting Standards) Rules, 2006, (as amended), the other relevant provisions of the Companies Act, 2013 and Reserve Bank of India Regulations in relation to Non Banking Finance Companies to the extent applicable to the Company.

All assets and liabilities have been classified as current or non-current as per the criteria set out in the schedule III to the Companies Act, 2013. Based on the nature of the products and the time between acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of its assets and liabilities.

3. Summary of significant accounting policies

a. Use of estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates are based on the management''s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

b. Tangible fixed assets

Fixed assets, except land and buildings are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price borrowing costs if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.

Subsequent expenditure related to an item of fixed asset is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. Other expense on existing fixed assets including day-to-day repair and maintenance expenditure and cost of replacing parts are charged to the statement of profit and loss for the period.

c. Depreciation on tangible fixed assets

Deprecation on fixed assets is calculated on a WDV method using the rates specified under the Schedule XIV to the Companies Act, 1956 arrived on the basis of the useful lives estimated by the management. Useful lives of assets are determined by management by an internal technical assessment except where such assessment suggests a life significantly different from those prescribed by schedule II-part C of the companies act,2013 where the useful life is as assessed and certified by a technical expert.

d. Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses if any. Internally generated intangible assets, excluding capitalized development costs, are not capitalized and expenditure is reflected in the statement of profit and loss in the year in which the expenditure is incurred. Intangible assets (goodwill) arising on consolidation or acquisition is not amortized but is tested for impairment.

The amortization period and the amortization method are reviewed at least at each financial year end. If the expected useful life of the asset is significantly different from previous estimates, the amortization period is changed accordingly. If there has been a significant change in the expected pattern of economic benefits from the asset, the amortization method is changed to reflect the changed pattern. Such changes are accounted for in accordance with AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies.

Gains or losses arising from derecognizing of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the asset is derecognized.

e. Borrowing Cost

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.

Borrowing costs directly attributable to the acquisition, 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 as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur.

f. Impairment of tangible and intangible assets

Management periodically assesses using, external and internal sources, whether there is an indication that an asset may be impaired. An impairment loss is recognized wherever the carrying value of an asset exceeds its recoverable amount. The recoverable amount is higher of the asset''s net selling price and value in use i.e. the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. An impairment loss for an asset is reversed if there has been a change in the estimates used to determine the recoverable amount since the last impairment loss was recognized.

g. Leases Where the Company is the lessee

Leases which effectively transfer to the Company substantially all the risks and benefits incidental to ownership of the leased item, are classified as finance leases and are capitalized at the lower of the fair value and present value of the minimum lease payments at the inception of the lease term and disclosed as assets acquired on finance lease. Lease payments are apportioned between the finance charges and reduction of the lease liability based on the implicit rate of return. Finance charges on account of finance leases are charged to statement of profit and loss.

Leases where the less or effectively retains substantially all the risks and benefits of ownership of the leased item, are classified as operating leases. Operating lease payments are recognized as an expense in the statement of profit and loss on a straight line basis over the lease term.

h. Investments

Investments that are readily realizable and intended to be held for not more than a year are classified as current investments. All other investments are classified as long term investments - Non Current Investments. Current investments are carried at lower of cost and fair value determined on an individual investment basis. Long term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary in the value of the investments.

i. Revenue Recognition

(a) Revenue is being recognized as and when there is reasonable certainty of ultimate Realization.

(b) Dividend income is accounted on cash basis.

(c) Interest income is recognized on a time proportionate basis.

j. Taxes on Income

Tax expense comprises current and deferred tax. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income-tax Act, 1961 enacted in India and tax laws prevailing in the respective tax jurisdictions where the company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred Income taxes reflect the impact of timing differences between taxable income and accounting Income originating during the current year and reversal of timing differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date. Deferred income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit and loss.

Deferred tax liabilities are recognized for taxable timing differences. Deferred tax assets are recognized for deductible timing differences only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits.

At each reporting date, the company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax asset to the extent that it has become reasonably certain or virtually certain as the case may be that sufficient future taxable income will be available against which such deferred tax assets can be realized.

The carrying amount of deferred tax assets are reviewed at each reporting date. The company writes-down the carrying amount of deferred tax asset to the extent that it is no Longer reasonably certain or virtually certain as the case may be that sufficient future taxable income will be available against which deferred tax asset can be realized. Any such write-down is reversed to the extent that it becomes reasonably certain or virtually certain as the case may be that sufficient future taxable income will be available.

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 tax assets and deferred taxes relate to the same taxable entity and the same taxation authority.

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax. The company recognizes MAT credit available as an asset only to the extent that there is convincing evidence that the company will pay normal income tax during the specified period. i.e the period for which MAT credit is allowed to be carried forward. In the year in which the company recognizes MAT credit as an asset in accordance with the Guidance Note on Accounting for Credit Available in respect of Minimum Alternative Tax under the Income-tax Act, 1961, the said asset is created by way of credit to the statement of profit and loss and shown as "MAT Credit Entitlement." The company reviews the "MAT credit entitlement" asset at each reporting date and writes down the asset to the extent the company does not have convincing evidence that it will pay normal tax during the specified period.

k. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

l. Provisions

A provision is recognized when the Company has a present obligation as a result of past event 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 are not discounted to its present value and are determined based on 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.

During the year advances, Receivables and investment made are recoverable and performing, therefore management has not made any provisions for bad or doubtful asset, however 0.25% of the Standard Assets is being provided as per the notification issued by the Reserve Bank of India (RBI).

In accordance with the notification No. DNBS.222/CGM(US)-2011 dated 17-01-2011issued by the Reserve Bank of India (RBI) vide its Directions to all NBFCs to make a general provision of 0.25% of the standard assets The company has made a provision of Rs. 23,74,640/- on the standard assets as on March 31, 2016. The amount of provision on Standard assets is shown separately as Contingent provision against Standard Assets under Long Term Provisions in the Balance Sheet.

Pursuant to section 45IC of the Reserve Bank of India, 1934, during the year the company has transferred an amount of Rs. 3,43,182/- to Statutory Reserve

m. Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence/ non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize the contingent liability but discloses its existence in the financial statements.

n. Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand and fixed deposits with an original maturity of three months or less with banks.

o. Segment reporting policies

The Company has only one business segment, i.e. Finance software development / IT enabled services. Accordingly the amounts appearing in the financial statements relate to this primary business segment. Further, the Company renders services in India only, and accordingly the disclosures under secondary segment are not applicable.

5. Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

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Mar 31, 2015

1. Corporate Information

INDIAN INFOTECH AND SOFTWARE LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in providing financial assistance for various business activities and trading & consultancy in Information Technology.

2. Basis of Preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. Pursuant to section 133 of the Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules 2014, till the standards of accounting or any addendum thereto are prescribed by the Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act, 1956 shall continue to apply. Accordingly, these financial statements have been prepared to comply in all material aspects with the Accounting Standards notified under section 211(3C) of the Companies Act, 1956, Companies (Accounting Standards) Rules, 2006, (as amended), the other relevant provisions of the Companies Act, 2013 and Reserve Bank of India Regulations in relation to Non Banking Finance Companies to the extent applicable to the Company.

All assets and liabilities have been classified as current or non-current as per the criteria set out in the schedule III to the Companies Act, 2013. Based on the nature of the products and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of its assets and liabilities.

3. Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

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Mar 31, 2014

1. Corporate Information

INDIAN INFOTECH AND SOFTWARE LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in providing financial assistance for various business activities and trading & consultancy in Information Technology.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act 1956. The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below.

3) Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

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Mar 31, 2013

1. Corporate Information

INDIAN INFOTECH AND SOFTWARE LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in providing financial assistance for various business activities and trading & consultancy in Information Technology.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act 1956. The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below.

3) Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

4) Scheme of Arrangement

(i) A Composite Scheme of Arrangement ("the Scheme") between Indian Infotech and Software Limited ("IISL") and Niki Metal Company Limited ("NMCL") and Lambodar Nirmit Limited ("LNL") under Sections 391 to 394 of the Companies Act, 1956 for amalgamation of NMCL and LNL with the Company into the Company has been sanctioned by the High Court of Maharashtra at Mumbai on 4th May 2012. The Scheme has become effective from the appointed date 1st April 2011.

(ii) Pursuant to the Scheme, all the assets, liability and reserves of NMCL & LNL have transferred to and vested in the Company as a going concern with effect from the appointed date 1st April 2011.

a. The amalgamation has been accounted for under the "Pooling of Interest Method" as per AS 14. Accordingly, as on appointed date, all the assets and liabilities have been taken at their book value and all the reserves identity has been preserved and added to identical reserves of IISL. The liabilities have been accounted for on their book value basis of accrual and certainty as decided by the management. However, as per the scheme the difference between Net asset value and equity shares issued to shareholders of transferor companies shall be recorded as Capital Reserve or goodwill.

b. As consideration for the amalgamation, the Company has during the year issued and allotted 32,13,02,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 2 (Two) Equity Share of 1/- each of IISL for every 1 (One) Equity Shares of Rs 1/- each of LNL in the Capital of the Company, and 47,38,56,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 4 (Four) Equity Share of 1/- each of IISL for every 1 (One) Equity Shares of Rs 1/- each of NMCL in the Capital of the Company.

c. The difference between the net asset value i.e Book value of Assets minus liabilities (including reserves) of the transferor companies as on the appointed date and equity shares issued to the shareholders of transferor companies on amalgamation by the transferee company of Rs. 51.60 crores has been credited to goodwill account at the time of allotment of shares.

d. Since the allotment of shares to the transferor company has been affected during the financial year, the net asset value i.e Book value of Assets minus liabilities (including reserves) of the transferor companies as on the appointed date of Rs. 27,91,15,000 which had been reflected under the head Reserves & Surplus as "Amalgamation Adjustment Account" has become Zero on allotment of shares to the shareholders of the transferor company.

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Mar 31, 2012

1. Corporate Information

INDIAN INFOTECH AND SOFTWARE LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in providing finance assistance and consultancy for various business activities.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the companies Act 1956. The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below.

3) Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006:'. The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

4) Scheme of Arrangement

(i) A Composite Scheme of Arrangement ("the Scheme") between Indian Infotech and Software Limited ("IISL") and Niki Metal Company Limited ("NMCL") and Lambodar Nirmit Limited ("LNL") under Sections 391 to 394 of the Companies Act, 1956 for amalgamation of NMCL and LNL with the Company into the Company has been sanctioned by the High Court of Maharashtra at Mumbai on 4th May 2012. The Scheme has become effective from the appointed date 1st April 2011.

(ii) Pursuant to the Scheme, all the assets, liability and reserves of NMCL & LNL have transferred to and vested in the Company as a going concern with effect from the appointed date 1st April 2011.

a. The amalgamation has been accounted for under the "Pooling of Interest Method" as per AS 14. Accordingly, as on appointed date, all the assets and liabilities have been taken at their book value and all the reserves identity has been preserved and added to identical reserves of IISL. The liabilities have been accounted for on their book value basis of accrual and certainty as decided by the management. However, as per the scheme the difference between Net asset lvalue and equity shares issued to shareholders of transferor companies shall be recorded as J' Capital Reserve or goodwill.

b. As consideration for the amalgamation, the Company has subsequent to the date of the balance sheet on 31st May, 2012 issued and allotted 32,13,02,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 2 (Two) Equity Share of 1/- each of IISL for every 1 (One) Equity Shares of Rs 1/- each of LNL in the Capital of the Company, and 47,38,56,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 4 (Four) Equity Share of 1/- each of IISL for every 1 (One) Equity Shares of Rs 1/- each of NMCL in the Capital of the Company.

c. The difference between the net asset value i.e Book value of Assets minus liabilities (including reserves) of the transferor companies as on the appointed date and equity shares issued to the shareholders of transferor companies on amalgamation by the transferee company of Rs. 51.60 crores shall be credited to goodwill account at the time of allotment of shares.

d. Since the allotment of shares to the transferor company has happened after the end of the financial year, the net asset value i.e Book value of Assets minus liabilities (including reserves) of the transferor companies as on the appointed date of Rs. 27,91,15,000 has been reflected under the head Reserves & Surplus as "Amalgamation Adjustment Account". This Account will become Zero on allotment of shares to the shareholders of the transferor company.

5) Previous year comparatives:

Till the year ended March 31, 2011, the Company was using pre-revised Schedule VI to the Act, for preparation and presentation of its financial statements. During the year ended March 31, 2012, the revised Schedule VI notified under the Act has become applicable to the Company. The Company has reclassified previous year figures to conform to this year's classification.

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Mar 31, 2010

1. Interest is accounted wherever stipulation exists in this regard.

2. Some debit/credit balances and advances are subject to confirmation.

3. Out of Loans and advances of Rs. 1,75,82,059/- a sum of Rs. 77,98,726/- is doubtful of recovery & a provision amounting to Rs. 3,89,936/- has been made in the accounts.

4. In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief:

a) The value of the realization of the current assets, loans and advances, in the ordinary course of the business would not be less then the amount stated in the Balance Sheet.

b) The provision for the depreciation and all known liabilities is adequate and not in excess of the amount reasonably required.

5. Previous year figures have been reclassified and regrouped wherever necessary.

6. All figures have been rounded to the nearest rupee.

7. Additional information Pursuant to the provisions of paragraph 3, 4C, and 4D and other information pursuant to the part II of Schedule VI of the Companies Act, 1956 are not applicable to the Company.

8. Investor Education and Protection Fund indicates unpaid dividend amounting to Rs. 1,22,453/- amount due and outstanding to be credited to the Investor Education and Protection Fund.

The Company does not have outstanding dilutive potential equity shares. Consequently, the basic earnings per share and diluted earning per share of the Company remains the same.

9. RELATED PARTY DISCLOSURE :

(A) List of Related Parties.

a) Key Management Personnel

K.L. Mundra - Director

b) Associates

TECIL Chemicals & Hydro Power Ltd. Chemo

Labs Ltd.

Note: Related Party relationships have been identified by the management and relied upon by the auditors.

10. The Company does not have a full time Company Secretary as required under Section 383 of the Companies Act, 1956.

11. As per the information available with the company there are no dues outstanding to any Small Scale Industrial undertaking as defined under the Interest on Delayed Payment to Small Scale and Ancillary Industrial Undertaking Act, 1993

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Mar 31, 2009

1. Interest is accounted wherever stipulation exists in this regard.

2. Some debit/credit balances are subject to confirmation.

3. Out of Loans and advances of Rs. 1,81,05,143/- a sum of Rs. 82,09,185/- is doubtful of recovery & a provision amounting to Rs. 4,10,459/- has been made in the Accounts.

4. In the opinion ofthe Board of Directors ofthe Company and to the best oftheir knowledge and belief.

a. The value of the realization of the current assets, loans and advances, in the ordinary course of the business would not be less then the amount stated in the Balance Sheet.

b. The provision for the depredation and all known liabilities is adequate and not in excess of the amount reasonably required. *

5. Contingent Liability:

Contingent liability in respect of partly paid-up shares / OFDC Rs. NIL (Previous year is also NIL/-)

6. Previous year figures have been reclassified and regrouped wherever necessary.

7. Ait figures have been rounded to the nearest rupee.

8. Additional information Pursuant to the provisions of paragraph 3,4C. and 40 and other information pursuant to the part II of Schedule VI of the Companies Act, 1956 are not applicable to the Company.

9. Investor Education and Protection Fund indicates unpaid dividend amounting to Rs. 1,68,255/- amount due and outstanding to be credited to the Investor Education and Protection Fund.

10. RELATED PARTY DISCLOSURE:

(A) List of Related Parties.

a. Key Management Personnel

K.L. Mundra - Managing Director

b. Associates

TECIL Chemicals & Hydro Power Ltd. G. D. Somani Memorial School ChemoPhamu laboratories Ltd Joshi Thermal

Note: Related Party relationships have been identified by the management and relied upon by the auditors.

11. The Company does not have a runtime Company Secretary as required under Section 383A of the Companies Act, 1956.

12. As per the information available with the company there are no dues outstanding to any Small Scale Industrial undertaking as defined under the interest on Delayed Payment to Small Scale and Ancillary Industrial Undertaking Act, 1993 .