Notes to Accounts of Authum Investment & Infrastructure Ltd.

Mar 31, 2025

2.11 Provisions, contingent liabilities and contingent assets

Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, and it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a
reliable estimate of the amount of the obligation. Provisions are reviewed at each balance sheet date and adjusted to reflect
the current best estimate. If it is no longer probable that the outflow of resources would be required to settle the obligation,
the provision is reversed. Provisions are not recognised for future operating losses.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at
the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Provisions are
determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the
time value of money and the risks specific to the liability.

When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is
remote, no provision is made. The disclosure of contingent liability is made when there is a possible obligation or present
obligation that may, but probably will not, require an outflow of resources. The Company also discloses present obligation
for which a reliable estimate cannot be made as a contingent liability. Contingent Liabilities are reviewed at each Balance
Sheet date.

A contingent asset is disclosed where an inflow of economic benefit is probable. When some or all economic benefits
required to settle a provision are expected to be recovered from third party, a receivable is recognised as an asset, if it is
virtually certain that reimbursement will be received and the amount can be measured reliably.

2.12. Foreign currency translation

(i) Functional and presentation currency

Items included in financial statements of the Company are measured using the currency of the primary economic
environment in which the entity operates (''the functional currency''). The financial statements are presented in Indian rupee
(INR).

(ii) Translation and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the
transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation
of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in
profit or loss.

Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the
date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported
as part of the fair value gain or loss. For example, translation differences on nonmonetary assets and liabilities such as
equity instruments

held at fair value through profit or loss are recognised in profit or loss as part of the fair value gain or loss and
translation differences on non-monetary assets such as equity investments classified as FVOCI are recognised in other
comprehensive income.

2.13 Repossessed collateral

Repossessed collateral represents financial and non-financial assets acquired by the Company in settlement of overdue
loans. The assets are initially recognised at fair value when acquired and included in premises and equipment, other financial
assets, investment properties or inventories within other assets depending on their nature and the Company''s intention in
respect of recovery of these assets and are subsequently remeasured and accounted for in accordance with the accounting
policies for these categories of assets.

2.14 Employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months
after the end of the period in which the employees render the related service are recognised in respect of employees''
services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities
are settled.

(ii) Post-employment obligations

The Company operates the following post-employment schemes:

(a) Gratuity;

(b) Superannuation fund; and

(c) Provident fund
Defined benefit plans

Gratuity obligations: The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is
the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The
defined benefit obligation is calculated annually by actuaries using the projected unit credit method.

The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated
future cash outflows by reference to market yields at the end of the reporting period on government bonds that have
terms approximating to the terms of the related obligation. The estimated future payments which are denominated in a
currency other than INR, are discounted using market yields determined by reference to high-quality corporate bonds that
are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the
related obligation.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the
fair value of plan assets. This cost is included in employee benefit expense in the statement of profit or loss.

Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised
in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the
statement of changes in equity and in the balance sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are
recognised immediately in profit or loss as past service cost.

Defined contribution plans

Superannuation fund: Contribution to Superannuation Fund, a defined contribution scheme, is made at pre-determined
rates to the Superannuation Fund, Life Insurance Corporation and is charged to the Statement of Profit or loss. There are no
other obligations other than the contribution payable to the Superannuation Fund.

Provident fund: The Group pays provident fund contributions to publicly administered provident funds as per local
regulations. The Group has no further payment obligations once the contributions have been paid. The contributions
are accounted for as defined contribution plans and the contributions are recognised as employee benefit expense when
they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future
payments is available.

(iii) Other long-term employee benefit obligations

Leave encashment: The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of
the period in which the employees render the related service. They are therefore measured as the present value of expected
future payments to be made in respect of services provided by employees up to the end of the reporting period using the
projected unit credit method. The benefits are discounted using the appropriate market yields at the end of the reporting
period that have terms approximating to the terms of the related obligation. Re-measurements as a result of experience
adjustments and changes in actuarial assumptions are recognized in the statement of profit or loss.

2.15 Fair value measurement

The Company measures its qualifying financial instruments at fair value on each Balance Sheet date.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is 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 statements are categorised within
the fair value hierarchy into Level I, Level II and Level III based on the lowest level input that is significant to the fair value
measurement as a whole. For a detailed information on the fair value hierarchy.

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.

2.16 Derivative financial instruments
Hedge accounting

The Company makes use of derivative instruments to manage exposures to interest rate risk and foreign currency risk. In
order to manage particular risks, the Company applies hedge accounting for transactions that meet specified criteria.

At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which
the Company wishes to apply hedge accounting and the risk management objective and strategy for undertaking the
hedge. The documentation includes the Company''s risk management objective and strategy for undertaking hedge, the
hedging/economic relationship, the hedged item or transaction, the nature of the risk being hedged, hedge ratio and how
the Company would assess the effectiveness of changes in the hedging instrument''s fair value in offsetting the exposure to
changes in the hedged item''s cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in
achieving offsetting changes in cash flows and are assessed on an on-going basis to determine that they actually have been
highly effective throughout the financial reporting periods for which they were designated.

Cash flow hedge

Hedges that meet the criteria for hedge accounting and qualify as cash flow hedges are accounted as follows :

A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated
with a recognised asset or liability and could affect profit or loss.

For designated and qualifying cash flow hedges, the effective portion of the cumulative gain or loss on the hedging instrument
is initially recognised directly in OCI within equity (cash flow hedge reserve). The ineffective portion of the gain or loss on
the hedging instrument is recognised immediately as finance cost in the Statement of Profit and Loss.

When the hedged cash flow affects the Statement of Profit and Loss, the effective portion of the gain or loss on the hedging
instrument is recorded in the corresponding income or expense line of the Statement of Profit and Loss.

When a hedging instrument expires, is sold, terminated, exercised, or when a hedge no longer meets the criteria for hedge
accounting, any cumulative gain or loss recognised in OCI is subsequently transferred to the Statement of Profit and Loss
on ultimate recognition of the underlying hedged forecast transaction. When a forecast transaction is no longer expected to
occur, the cumulative gain or loss that was reported in OCI is immediately transferred to the Statement of Profit and Loss.

2.16 Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating
decision maker.

The power to assess the financial performance and position of the Company and make strategic decisions is vested in the
executive director who has been identified as the chief operating decisions maker.

The Company is engaged in investments in share & securities, credit & alternative asset business , Rental (Other activity)
and all other activities revolve around the main business of the Company. Further, all activities are conducted within India.

21. Other Equity (Contd.)

Securtites Premium:

Securtites Premium account is used to record the premium received on issue of shares. The reserve will be utilised in accordance
with the provisions of the companies act, 2013.

Capital Redemption Reserve:

The capital redemption reserve is created to be utilised towards redemption of preference shares. The reserve will be utilised in
accordance with the provisions of the companies act, 2013.

Statutory Reserve Fund:

The Company created a reserve pursuant to section 45 IC the Reserve Bank of India Act, 1934 by transferring amount not less
than twenty percent of its net profit every year as disclosed in the Statement of Profit and Loss and before any dividend is declared.

Retained Earnings:

Retained Earnings represents surplus / accumuted earnings of the company and are available for distribution to the shareholders.
Other Comprehensive Income:

Other comprehensive income consists of gains/losses of equity financial instruments carried through fair value through other
comprehensive income.

C. Demand in respect of income tax matters for which appeal & Rectification is pending is Rs. 134.08 Crores(previous year
117.47 Crores ). This is disputed by the company and hence not provided for in the books of account. The company has paid
20% of the tax liability amounting to Rs. 2.85 Crores for the Assessment Year 2022-23.

38. Segment Information

As per IND AS 108 para 4, segment information has been disclosed in consolidated financial statements, hence no separate
disclosure has been given in standalone financial statements of the company.

39. Due to Micro, Small and Medium Enterprises

i) The classification of the suppliers under Micro, Small and Medium Enterprises Development Act, 2006 made on the basis
of information made available to the company.

ii) Disclosure requirement as required made under Micro, Small and Medium Enterprises Development Act, 2006 is
as follows:

43. LEASE

The Company as a Lessee

The Company has adopted Ind AS 116 ''Leases'' with the date of initial application being April 01, 2024. The determination
of whether an arrangement is a lease, or contains a lease, is based on the substance of the arrangement and requires an
assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset or assets or whether the
arrangement conveys a right to use the asset. A contract is, or contains, a lease if the contract conveys the right to control the
use of an identified asset for a time in exchange for a consideration. The Company , at the inception of a contract, assesses
whether the contract is a lease or not lease. The Company recognises a right-of-use asset and a lease liability at the lease
commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease
liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and
an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is
located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method
from the commencement date to the end of the lease term.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement
date, discounted using the Companies incremental borrowing rate at the transition date in case of leases existing as on the
date of transition date and in case of leases entered after transition date, incremental borrowing rate as on the date of lease
commencement date. In case of existing leases, the said date would be the date of transition. It is remeasured when there is
a change in future lease payments arising from a change in a rate, if the Company changes its assessment of whether it will
exercise an extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment
is made to the carrying amount of the right-of-use asset, or is recorded in Statement of Profit and Loss if the carrying amount
of the right-of-use asset has been reduced to zero. The Company has elected not to recognise right-of-use assets and lease
liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The Company
recognises the lease payments associated with these leases as an expense over the lease term. The Company''s lease asset
class consist of leases for office premises.

1. In case of trade receivables, cash and cash equivalents, trade payables, short term borrowings and other financial
assets and liabilities it is assessed that the fair values approximate their carrying amounts largely due to the short-term
maturities of these instruments.

2. The fair values of the financial assets and financial liabilities included above have been determined in accordance with
generally accepted pricing models based on a discounted cash flow analysis, with the most significant inputs being the
discount rate that reflects the credit risk of counterparties.

Fair Value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either

observable or unobservable and consists of the following three levels:

Level 1 hierarchy - Includes Financial Instruments measured using quoted prices in the active market.

Level 2 hierarchy - The Fair value of Financial Instruments that are not traded in an active market, is determined using
valuation techniques which maximize the use of observable market data.

Level 3 hierarchy - Inputs are not based on observable market data. Fair values are determined in whole or in part using a
valuation model based on assumptions that are neither supported by prices from observable current market transactions in
the same instrument nor are they based on available market data.

B. Measurement of fair values

Financial instruments fair valued under Level 3 hierarchy are measured using Market multiples method.

The carrying amount of trade receivables, cash and cash equivalents ,other financial assets, trade payables and other
financial liabilities are considered to be the fair value due to short term nature.

There are no transfers between level 1 , level 2 and level 3 during the year.

2) Assignment Deal:

During the year ended March 31, 2025 and March 31, 2024, there were no assignment deals undertaken by the Company.

3) Transferred financial assets that are derecognised in their entirety but where the Company has
continuing involvement

The Company has not transferred any assets that are derecognised in their entirety where the Company continues to have
continuing involvement.

46. Capital risk management

The Company actively manages its capital base to cover risks inherent to its business and meet the capital adequacy
requirement of RBI. The adequacy of the Company''s capital is monitored using, among other measures, the regulations issued
by RBI.

(i) Capital management

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. No changes have been made to the objectives, policies and processes
from the previous years. However, they are under constant review by the board.

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. However, they are under constant
review by the board.

(ii) Regulatory Capital

The Company is subject to the capital adequacy requirements of the Reserve Bank of India (RBI). Under RBI''s capital
adequacy guidelines, the Company is required to maintain a capital adequacy ratio consisting of Tier I and Tier II Capital.
The minimum capital ratio as prescribed by RBI guidelines and applicable to the Company, consisting of Tier I and Tier II
capital, shall not be less than 15 percent of its aggregate risk weighted assets on-balance sheet and of risk adjusted value
of off-balance sheet. The Tier I capital, at any point of time, shall not be less than 10%.

The following additional information is disclosed in terms of the Master Direction - Reserve Bank of India (Non-Banking
Financial Company -Scale Based Regulation) Directions 2023, issued by Reserve Bank of India vide circular no. RBI/
DoR/2023-24/106 DoR.FIN.REC. NO.45/03.10.119/2023-24 October 19, 2023 :
“Tier I Capital” means owned fund as reduced by investment in shares of other non-banking financial companies and
in shares, debentures, bonds, outstanding loans and advances including hire purchase and lease finance made to and
deposits with subsidiaries and companies in the same group exceeding, in aggregate, ten per cent of the owned fund.

“Owned Fund” means paid up equity capital, preference shares which are compulsorily convertible into equity, free
reserves, balance in share premium account and capital reserves representing surplus arising out of sale proceeds of
asset, excluding reserves created by revaluation of asset, as reduced by accumulated loss balance, book value of intangible
assets and deferred revenue expenditure, if any

Tier II capital” includes the following -

a. preference shares other than those which are compulsorily convertible into equity;

b. revaluation reserves at discounted rate of fifty five percent;

c. Generalprovisions(includingthatforStandardAssets)andlossreservestotheextentthesearenotattributabletoactual
diminution in value or identifiable potential loss in any specific asset and are available to meet unexpected losses, to the
extent of one and one fourth percent of risk weighted assets. "

d. hybrid debt capital instruments; and

e. subordinated debt;

to the extent the aggregate does not exceed Tier I capital
Aggregate Risk Weighted Assets -

Under RBI Guidelines, degrees of credit risk expressed as percentage weightages have been assigned to each of the
on-balance sheet assets and off- balance sheet assets. Hence, the value of each of the on-balance sheet assets and off-
balance sheet assets requires to be multiplied by the relevant risk weights to arrive at risk adjusted value of assets. The
aggregate shall be taken into account for reckoning the minimum capital ratio.

i) The estimates of future salary increases considered in actuarial valuation takes into account inflation, seniority,
promotion and other relevant factors.

ii) General Descriptions of significant defined plans:
a) Gratuity Plan

Gratuity is payable to all eligible employees of the Company on superannuation, death and permanent disablement,
in terms of the provisions of the Payment of Gratuity Act 1972 or as per the Company''s Scheme whichever is
more beneficial.

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

The sensitivity analysis presented above may not be representative of the actual change in the projected benefit
obligation as it is unlikely that the change in assumtions would occur in isolation of one another as some of the assumtions
may be corelated.

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

iv) Characteristics of defined benefit plan

The entity has a defined benefit gratuity plan in India (funded). The entity''s defined benefit gratuity plan is a final salary
plan for employees, which requires contributions to be made to a separately administered fund.

The fund is managed by a trust which is governed by the Board of Trustees. The Board of Trustees are responsible for the
administration of the plan assets and for the definition of the investment strategy.

v) 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. A fall in the discount rate generally increases the mark to market value of the assets
depending on the duration of asset.

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.

47. Employee benefits (Contd.)

Investment Risk: The present value of the defined benefit plan liability is calculated using a discount rate which is
determined by reference to market yields at the end of the reporting period on government bonds. If the return on plan
asset is below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of
investments in government securities, and other debt instruments.

Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Since the plan is invested in lines
of Rule 101 of Income Tax Rules, 1962, this generally reduces ALM risk.

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.

Concentration Risk: Plan is having a concentration risk as all the assets are invested with the insurance company and
a default will wipe out all the assets. Although probability of this is very less as insurance companies have to follow
regulatory guidelines.

48. Related party transactions

In accordance with the requirements of Ind AS 24, on related party disclosures, name of the related party, related party
relationship, transactions and outstanding balances including commitments where control exists and with whom transactions
have taken place during reported year, are as detail below:

A. List of Related Parties and their relationship:

i) Subsidiaries

1 Open Elite Developers Limited (Formerly known as "Reliance Commercial Finance Limited") - Wholly owned
subsidiary company

2 Authum Asset Management Company Private Limited - Wholly owned subsidiary company - W.e.f. 11^th
January, 2024.

3 Authum Real Estate Private Limited - Wholly owned subsidiary company - W.e.f. 15^th January, 2024 and ceased to
be an associate company w.e.f. 31^st May, 2024.

ii) Associate Company

1 Michigan Engineers Private Limited - Associate company w.e.f. 25^th May, 2023 and ceased to be an associate
company w.e.f. 27^th July, 2023.

iii) Enterprise in which company have significant influence

1 Nitco Limited

2 Prataap Snacks Limited

iv) Key Managerial Personnel and their Relatives

1 Mr. Amit Dangi, Whole Time Director

2 Mr. Divy Dangi, Whole Time Director, w.e.f August 7, 2024)

3 Mr. Sanjay Dangi, Director (Ceased w.e.f. September 03, 2024)

4 Mrs. Alpana Dangi, Promotor and Director

5 Mr. Akash Suri, Whole Time Director and Group Chief Executive Officer, (w.e.f. August 07,2024)

6 Mr. Deepak Dhingra, Chief Financial Officer (Ceased w.e.f. October 31, 2024)

7 Mr. Hitesh Vora, Company Secretary (Ceased w.e.f. January 16, 2025)

8 Mr. Amit Kumar Jha, Chief Financial Officer, w.e.f November 01, 2024

9 Ms. Avni Shah, Company Secretary, w.e.f January 17, 2025

49. Risk management objectives and policies (Contd.)

(c) 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. It has a diversified lending model and focuses on six broad categories viz: (i) consumer/retail lending, (ii)
SME lending, (iii) infra lending, (iv) micro financing, and (vi) other commercial lending. The Company assesses the credit
quality of all financial instruments that are subject to credit risk. The company has manged the credit risk by diversifying
into retail segment in recent years. In SME lending also, focus has been on the products with lower ticket size.

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 on which a 12 months
allowance for ECL is recognised;

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

- tage 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 when they are 30 days past due (DPD) and are accordingly transferred from stage 1 to stage 2. For stage 1 an ECL
allowance is calculated based on a 12 months Point in Time (PIT) probability weighted probability of default (PD). For
stage 2 and 3 assets a life time ECL is calculated based on a lifetime PD.

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).

(ii) Collateral Valuation

The nature of products across these broad categories are either unsecured or secured by collateral. Although collateral is an
important risk mitigant of credit risk, the Company''s practice is to lend on the basis of assessment of the customer''s ability to
repay rather than placing primary reliance on collateral. Based on the nature of product and the Company''s assessment of the
customer''s credit risk, a loan may be offered with suitable collateral. Depending on its form, collateral can have a significant
financial effect in mitigating the Company''s credit risk.

50. A. Fair value Measurment

a) Financial instruments - fair value and risk management

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the
principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price),
regardless of whether that price is directly observable or estimated using a valuation technique.

Valuation methodologies adopted

Fair values of financial assets, other than those which are subsequently measured at amortised cost, have been arrived at
as under:

(i) Fair values of investments held for trading under FVTPL have been determined under level 1 using quoted market prices
of the underlying instruments;

(ii) Fair values of strategic investments in equity instruments designated under FVOCI have been measured under level 3 at
fair value based on a discounted cash flow model.

(iii) Fair values of other investments under FVOCI have been determined under level 1 using quoted market prices of the
underlying instruments;

(iv) Fair value of loans held under a business model that is achieved by both collecting contractual cash flows and partially
selling the loans through partial assignment to willing buyers and which contain contractual terms that give rise on
specified dates to cash flows that are solely payments of principal and interest are measured at FVOCI. The fair value of
these loans have been determined under level 3.

The Company has determined that the carrying values of cash and cash equivalents, bank balances, trade receivables,
short term loans, floating rate loans, investments in equity instruments designated at FVOCI, trade payables, short term
debts, borrowings, bank overdrafts and other current liabilities are a reasonable approximation of their fair value and
hence their carrying value are deemed to be fair value.

b) Fair value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are:

(a) recognised and measured at fair value and

(b) measured at amortised cost and for which fair values are disclosed in the financial statements

The Company determines fair values of its financial instruments according to the following hierarchy:

Level 1: valuation based on quoted market price: financial instruments with quoted prices for identical instruments in active
markets that the Company can access at the measurement date.

Level 2: valuation based on using observable inputs: financial instruments with quoted prices for similar instruments in active
markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using
models where all significant inputs are observable.

Level 3: valuation technique with significant unobservable inputs: - financial instruments valued using valuation techniques
where one or more significant inputs are unobservable. Equity investments designated under FVOCI has been valued using
discounted cash flow method.

Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

- Listed equity investments (other than subsidiaries and associates - Quoted bid price on stock exchange

- Mutual fund - net asset value of the scheme

- Debentures or bonds - based on market yield for instruments with similar risk / maturity, etc.

- Private equity investment fund - price to book value method and

- Other financial instruments - discounted cash flow analysis.

All of the resulting fair value estimates are included in level 2 except for unlisted equity securities, a contingent consideration
receivable and certain derivative contracts, where the fair values have been determined based on present values and the
discount rates used were adjusted for counterparty or own credit risk.

For financial assets and financial liabilities that have a short-term maturity (less than twelve months), the carrying amounts,
which are net of impairment, are a reasonable approximation of their fair value. Such instruments include: cash and balances,
Trade receivables, cash and cash equivalents, bank deposits and trade payables. Such amounts have been classified as Level 3
on the basis that no adjustments have been made to the balances in the balance sheet.

The fair values for loans were calculated based on cash flows discounted using a current lending rate. They are classified as
level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risk.

The fair values of debt securities, borrowing other than debt securities, subordinate liability are based on discounted cash
flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of
unobservable inputs, including own credit risk.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

(vi) Institutional set-up for liquidity risk management

Further, the Company''s risk management function is carried out by the Risk Management Committee. The Risk Management
Committee evaluates financial risks and the appropriate governance framework for the Company. The Risk Management
Committee provides assurance to the Board that the Company''s financial risk activities are governed by appropriate policies
and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and
risk objectives.

52. Disclosure as per the circular no.RBI/2019-20/88 DOR.NBFC (PD) CC.No.102/03.10.001/2019-20
dated November 04, 2019 issued by Reserve Bank of India on "Liquidity Coverage Ratio (LCR)

RBI has issued final guidelines on Liquidity Risk Management Framework for Non-Banking Financial Companies and Core
Investment Companies on November 04, 2019. As per the said guidelines, LCR requirement shall be binding on all non¬
deposit taking systemically important NBFCs with asset size of ff 10,000 crore and above from December 1, 2020, with the
minimum LCR to be 50%, progressively increasing, till it reaches the required level of 100%, by December 1, 2024, as per the
time-line given below:

4. Derivatives

Forward Rate Agreement (FRA) / Interest Rate Swap (IRS)

The Company has not entered into any Forward Rate Agreement/Interest Rate Swap transactions during the current
financial year and in the previous financial year. Hence disclosures relating to Forward Rate Agreement/Interest Rate Swap
are not applicable.

Exchange Traded Interest Rate (IR) Derivative

The Company has not entered into any Exchange Traded Interest Rate (IR) Derivatives transactions during the current
financial year and in the previous financial year. Hence disclosures relating to Exchange Traded Interest Rate (IR) Derivatives
are not applicable.

Disclosures on Risk Exposure in Derivatives
A. Qualitative Disclosure

The Company has Board approved risk management policy for capital market exposure including derivatives contract
trading. Risk Management Team independently calculates sensitivities and revalues portfolio on daily basis and ensures
that risk limits are adhered on daily basis. Market risk limits have been established at portfolio level.

The Company has a process whereby periodically all long term contracts (including derivative contracts) are assessed for
material foreseeable losses. At the year end, the Company has reviewed and ensured that adequate provision as required
under any law/ accounting standards there are no foreseeable losses on such long term contracts (including derivative
contracts) has been made in the books of accounts (Refer "Material Accounting Policy" point 1).

Notes :

1 During the year the company has not breached the Single Borrower Limit (SBL) / Group Borrower Limit (GBL) through
loans sanctioned/ disbursed to its borrowers. Hence, the disclosure is reported as Nil.

9. Unsecured Advances

The Company has not financed any unsecured advances against intangible securities such as rights, licenses, authority etc as
collateral security.

10. Exposure to group companies engaged in real estate business

The Company has no exposure to group companies engaged in real estate business in current and previous year.

11. Miscellaneous

a. Registration obtained from other financial sector regulators

In addition to the registration with RBI as NBFC-ML, the Company has not obtained any registration/ licence /
authorisations by whatever name called from other financial sector regulators.

b. Disclosure of Penalties imposed by RBI and other regulators

During the previous year, penalties were imposed by both BSE & NSE of Rs. 5000/- each for delay in filing disclosure
under regulation 23(9) of SEBI (LODR) Regulations 2015 for half year ended March 31,2024.

The Company had filed the disclosure under regulation 23(9) of SEBI (LODR) Regulations 2015 for half year ended March
31,2024 and has also paid a penalty of Rs. 5000/- to each stock exchanges.

c. Related Party Transactions

Details of all material transactions with related parties has been given in Notes No 46 of the standalone financial statements.

d. Ratings assigned by rating agencies and migration of ratings during the year

The Company has obtained Credit rating from CRISIL for Long Term Bank Facilities. The rating assigned is "CRISIL A-/
Stable.

2 Revaluation of investment property

The Company has not revalued its investment property during the current or previous year.

3 Revaluation of property, plant and equipment

The Company has not revalued its property, plant and equipment during the current or previous year.

4 Revaluation of intangible assets

The Company has not revalued its intangilbe assets during the current or previous year.

5 Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties

The company has not granted any loan to promotors, directors & KMPs that are repayable on demand or without specifying
any terms or period of repayment, however, the company has granted loan to related parties specifying the terms of
repayment. The outstanding amount from related parties is Rs. 58.31 Crores.

6 The company does not have any asset as capital work-in progress as at 31^st March, 2025

7 Intangible asset under development ageing schedule. (Refer note no 10)

8 Details of Benami Property held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

9 Borrowings from banks or financial institutions on the basis of security of current asset

During the year, the Company has borrowed funds from financial institutions on the basis of pledging shares & securities. The
company is not required to file quarterly returns or statements with financial institutions.

10 Wilful Defaulter

The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the financial
years ended March 31, 2025 and March 31, 2024.

11 Relationship with Struck off Companies

The Company does not have any transactions with the companies struck off under section 248 of Companies Act, 2013 during
the year ended March 31, 2025 and March 31, 2024.

12 Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.

13 Compliance with number of layers of companies

The Company has two wholly owned subsidiaries as at March 31, 2025 and three wholly owned subsidiary as at March
31, 2024.

15 There were no scheme of arrangement approved by the compenent authority during the year in terms of section 232 to 237
of The Companies Act, 2013

16 Utilisation of Borrowed funds and share premium

A. During the year, the Company has not advanced 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.

B. During the year, 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 to or on behalf of the Ultimate Beneficiaries

17 Undisclosed income

There is no transaction surrendered or disclosed as income during the current or previous year in the tax assessments under
the Income Tax Act, 1961, that has not been recorded in the books of accounts

18 Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

60. Events after reporting date

There have been no events after the reporting date.

61. The Code on Social Security, 2020 (the Code) has been enacted, which would impact contribution by the Company towards
Provident Fund and Gratuity. The effective date from which changes are applicable is yet to be notified and the rules
thereunder are yet to be announced. The actual impact on account of this change will be evaluated and accounted for when
notification becomes effective.

62. Rs. 0.00 in Standalone Financial Statement indicates amount below Rs.50,000.

63. Previous year figures have been regrouped / rearranged wherever necessary.

64. The above financial statements have been reviewed by audit committee and subsequently approved by Board of Directors
at its meeting held on 12^th May, 2025.

The accompanying notes form an integral part of the standalone financial statements.

As per our report of even date attached

For Maharaj N R Suresh & Co. LLP For APAS & Co. LLP For and on behalf of the Board of Directors of

Chartered Accountants Chartered Accountants Authum Investment & Infrastrucuture Limited

FRN No. 001931S/000020 FRN No. 000340C/C400308

K V Srinivasan Rajeev Ranjan Divy Dangi Amit Dangi

Partner Partner Whole Time Director Whole Time Director

Membership No. 204368 Membership No. 535395 DIN: 08323807 DIN: 06527044

Place: Mumbai Akash Suri Amit Kumar Jha

Date: 12^th May, 2025 WTD & CEO Chief Financial Officer

DIN:09298275

Place: Mumbai Avni Shah

Date: 12^th May, 2025 Company Secretary

---

Mar 31, 2024

2.2.5. Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources, and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. The Company also discloses present obligations for which a reliable estimate cannot be made. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

2.3. Business Combination

The Company applies the acquisition method of accounting for business combinations where common control does not exist. The consideration transferred by the Company for the acquisition of business comprises of fair value of the assets transferred, liabilities incurred, and the equity interests issued by the Company as at the acquisition date i.e. the date on which it obtains the control of the acquiree. The acquisition related costs are recognised in the statement of profit and loss as incurred, except to the extent related to the issue of debt or equity securities.

Identifiable assets acquired and liabilities assumed in a business combination are measured initially at their fair values on the acquisition date. Intangible assets acquired in a business combination and recognised separately from Goodwill are initially recognised at their fair value at the acquisition date. Subsequent to initial recognition, intangible assets as well as Goodwill acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses, respectively.

Goodwill is initially measured at cost, being the excess of the consideration transferred over the fair value of the net identifiable assets acquired. After initial recognition, Goodwill is tested annually for impairment and any impairment loss for Goodwill is recognised in the statement of profit and loss.

If the consideration transferred is less than the fair value of net identifiable assets acquired, the difference is recognised as capital reserve in other equity If there does not exist clear evidence of the underlying reasons for classifying the business combination as a bargain purchase otherwise the difference is recognised in other

comprehensive income on the acquisition date and accumulate the same in equity as capital reserve. Further details and impact of this merger on financial statements of the Company is disclosed in note 64.

2.4 Recent Accounting Pronouncements

Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Amendment Rules, 2023 dated 31 March 2023 to amend the following Ind AS which are effective from period starting 01 April 2023:

Ind AS 107 - Financial instruments: Disclosures

This amendment adds to the amendments in Ind AS 1 and specifies that material accounting policy information needs to be disclosed. It also specifies that information about the measurement basis (or bases) used for financial instruments is expected to be material information. Prior to the amendment, Ind AS 107 required an entity to disclose significant accounting policies, comprising the measurement basis (or bases) and other accounting policies used that are relevant to an understanding of the financial statements. Consequential changes have been carried out in Appendix B -Application Guidance. The said amendment does not have any material impact on the Company''s financial statements.

Ind AS 1 - Presentation of financial statements

This amendment aims to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their ''significant accounting policies'' with a requirement to disclose their ''material accounting policy information'' and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. Consequential amendments have been made in Ind AS 107. The Company is currently assessing its accounting policy information disclosures to ensure consistency with the amended requirements.

Ind AS 8 - Accounting policies, changes in accounting estimates and errors

This amendment provides a clear definition of accounting estimates and clarifies the distinction between changes in accounting estimates and changes in accounting policies/correction of errors. It also, explains the difference between estimation techniques and valuation techniques by way of examples to provide clarity. The said amendment is not expected to have a material impact on the Company''s financial statements.

Ind AS 12 - Income taxes

This amendment narrows the scope of the initial recognition exception under Ind AS 12, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. The amendments should be applied to transactions that occur on or after the beginning of the earliest comparative period presented. In addition, at the beginning of the earliest comparative period presented, a deferred tax asset (provided that sufficient taxable profit is available) and a deferred tax liability should also be recognised for all deductible and taxable temporary differences associated with leases and decommissioning obligations. Consequential amendments have been made in Ind AS 101. The Company is currently assessing the impact of the amendments.

Ind AS 34 - Interim financial reporting

This amendment substitutes the words ''significant accounting policies'' with the words ''material accounting policy information'' consequential to the amendments to Ind AS 1 as stated above. The Company is currently assessing the impact on the financial statements.

2.5 Critical accounting judgments and key sources of estimation uncertainty

The preparation of financial statements in accordance with Ind AS requires use of estimates and assumptions for some items, which might have an effect on their recognition and measurement in the balance sheet and statement of profit and loss. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The actual results may differ from these estimates. The Company''s management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Any revision to the accounting estimates is recognised prospectively in the current and future periods.

1. In case of trade receivables, cash and cash equivalents, trade payables, short term borrowings and other financial assets and liabilities it is assessed that the fair values approximate their carrying amounts largely due to the short-term maturities of these instruments.

2. The fair values of the financial assets and financial liabilities included above have been determined in accordance with generally accepted pricing models based on a discounted cash flow analysis, with the most significant inputs being the discount rate that reflects the credit risk of counterparties.

Fair Value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 hierarchy - Includes Financial Instruments measured using quoted prices in the active market.

Level 2 hierarchy - The Fair value of Financial Instruments that are not traded in an active market, is determined using valuation techniques which maximize the use of observable market data.

Level 3 hierarchy - Inputs are not based on observable market data. Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

B. Measurement of fair values

Financial instruments fair valued under Level 3 hierarchy are measured using Market multiples method.

The carrying amount of trade receivables, cash and cash equivalents ,other financial assets, trade payables and other financial liabilities are considered to be the fair value due to short term nature.

There are no transfers between level 1 , level 2 and level 3 during the year.

a) Scheme of arrangement between the Company and Reliance Commercial Finance Limited (""RCFL or Demerged company"") and their respective shareholders and creditors has been approved by Honourable National Company Law Tribunal (NCLT), Mumbai Bench vide Order dated 10^th May 2024. The certified copy of the said Order was filed with Registrar of Companies and the effective date of the Scheme of arrangement is 21^st May 2024 and the Appointed Date of the Scheme of arrangement is 1^st October 2023. Pursuant to Scheme the entire Lending Business (Demerged Undertaking) of the RCFL (comprising all assets, liabilities, licences, rights, employees etc. ) has been transferred to the Company with effect from the Appointed Date as going concern in the manner and terms and conditions as contemplated in the Scheme and accounting for the transaction of the Demerged Undertaking from the period 1^st October 2023 to 31^st March 2024 has been done in the books of the accounts of the Reliance Commercial Finance Limited.

b) Further, all the inter company balances pertaining to the Demerged Undertaking have been cancelled and all the inter company transactions (in relation to the Demerged Undertaking) between Appointed Date and Effective Date have been cancelled.

c) The demerger has been accounted in accordance with Ind-AS 103 ""Business Combinations"". The financials have been restated with effect from 01^st October, 2023 (Appointed Date).

2) Assignment Deal:

During the year ended March 31, 2024 and March 31, 2023, there were no Assignment deals undertaken by the Company.

3) Transferred financial assets that are derecognised in their entirety but where the Company has continuing involvement

The Company has not transferred any assets that are derecognised in their entirety where the Company continues to have continuing involvement.

Note: 42 and 43 Capital risk management

The Company actively manages its capital base to cover risks inherent to its business and meet the capital adequacy requirement of RBI. The adequacy of the Company''s capital is monitored using, among other measures, the regulations issued by RBI.

(i) Capital management

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. No changes have been made to the objectives, policies and processes from the previous years. However, they are under constant review by the board.

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. However, they are under constant review by the board.

(ii) Regulatory Capital

The Company is subject to the capital adequacy requirements of the Reserve Bank of India (RBI). Under RBI''s capital adequacy guidelines, the Company is required to maintain a capital adequacy ratio consisting of Tier I and Tier II Capital. The minimum capital ratio as prescribed by RBI guidelines and applicable to the Company, consisting of Tier I and Tier II csadditional information is disclosed in terms of the RBI circular (Ref No. DNBR .PD. 008 / 03.10.119 / 2016-17 dated September 01, 2016) and RBI circular DNBR(PD) CC No. 053 / 03.10.119 / 2015-16 :

Note: 45 Employee benefit plans Contd. b) Defined benefit plans

The company has a defined benefit gratuity plan in India (funded). The company''s defined benefit gratuity plan is a final salary plan for India employees, which requires contributions to be made to a separately administered fund. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member''s length of service and salary at retirement age.

The following tables summarise the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet for the respective plans:

Notes :

1. Transaction values are including taxes and duties (after netting off input credit), if any.

2. Amounts in bracket : (-) denote previous years figures i.e. financial year 2022-23.

3. Name of the related parties and nature of their relationships where control exists have been disclosed irrespective of whether or not there have been transactions with the Company. In other cases, disclosures have been made only when there have been transactions with those parties.

4. Related parties as defined under clause 9 of the Ind AS 24 ''Related party disclosures'' have been identified based on representations made by key managerial personnel and information available with the Company. AH above transactions are in the ordinary course of business and on an arms'' length basis.

5. Provisions for gratuity, compensated absences and other long term service benefits are made for the Company as a whole and the amounts pertaining to the key managerial personnel are not specifically identified and hence are not included above.

6. #On October 14^th, 2022, Reliance Commercial Finance Ltd., Reliance Capital Ltd., and Authum Investment and Infrastructure Ltd. entered a Supplemental Resolution Implementation Memorandum. As per this memorandum, the company has successfully acquired entire 13,53,25,694 equity shares of Rs.10/- each, 40,00,00,000 preference shares of Rs.10/- each, and inter-corporate deposit Rs. 749.06 of Reliance Commercial Finance Ltd. from Reliance Capital Ltd. for Rs. 1.00 Crores.

(b) Market risk

Market risk is the risk that the fair value of future cash flow of financial instruments will fluctuate due to changes in the market variables such as interest rates, foreign exchange rates and equity prices. The Company do not have any exposure to foreign exchange rate and equity price risk.

(c) 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. It has a diversified lending model and focuses on six broad categories viz: (i) consumer/ retail lending, (ii) SME lending, (iii) infra lending, (iv) micro financing, and (vi) other commercial lending. The Company assesses the credit quality of all financial instruments that are subject to credit risk. The company has manged the credit risk by diversifying into retail segment in recent years. In SME lending also, focus has been on the products with lower ticket size.

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 on which a 12 months allowance for ECL is recognised;

- 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 when they are 30 days past due (DPD) and are accordingly transferred from stage 1 to stage 2. For stage 1 an ECL allowance is calculated based on a 12 months Point in Time (PIT) probability weighted probability of default (PD). For stage 2 and 3 assets a life time ECL is calculated based on a lifetime PD.

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).

(ii) Collateral Valuation

The nature of products across these broad categories are either unsecured or secured by collateral. Although collateral is an important risk mitigant of credit risk, the Company''s practice is to lend on the basis of assessment of the customer''s ability to repay rather than placing primary reliance on collateral. Based on the nature of product and the Company''s assessment of the customer''s credit risk, a loan may be offered with suitable collateral. Depending on its form, collateral can have a significant financial effect in mitigating the Company''s credit risk.

(iii) Analysis of Concentration Risk

The Company has started new products like two wheelers and other retail products to manage the concentration risk. The company also has portfolio across geographies to manage the geographical risk.

a) Financial instruments - fair value and risk management

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a valuation technique.

Valuation methodologies adopted

Fair values of financial assets, other than those which are subsequently measured at amortised cost, have been arrived at as under:

(i) Fair values of investments held for trading under FVTPL have been determined under level 1 using quoted market prices of the underlying instruments;

(ii) Fair values of strategic investments in equity instruments designated under FVOCI have been measured under level 3 at fair value based on a discounted cash flow model.

(iii) Fair values of other investments under FVOCI have been determined under level 1 using quoted market prices of the underlying instruments;

(iv) Fair value of loans held under a business model that is achieved by both collecting contractual cash flows and partially selling the loans through partial assignment to willing buyers and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at FVOCI. The fair value of these loans have been determined under level 3.

The Company has determined that the carrying values of cash and cash equivalents, bank balances, trade receivables, short term loans, floating rate loans, investments in equity instruments designated at FVOCI, trade payables, short term debts, borrowings, bank overdrafts and other current liabilities are a reasonable approximation of their fair value and hence their carrying value are deemed to be fair value.

b) Fair value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are:

(a) recognised and measured at fair value and

(b) measured at amortised cost and for which fair values are disclosed in the financial statements

Note: 48A Fair value Measurment Contd.

The Company determines fair values of its financial instruments according to the following hierarchy:

Level 1: valuation based on quoted market price: financial instruments with quoted prices for identical instruments in active markets that the Company can access at the measurement date.

Level 2: valuation based on using observable inputs: financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using models where all significant inputs are observable.

Level 3: valuation technique with significant unobservable inputs: - financial instruments valued using valuation techniques where one or more significant inputs are unobservable. Equity investments designated under FVOCI has been valued using discounted cash flow method.

AH of the resulting fair value estimates are included in level 2 except for unlisted equity securities, a contingent consideration receivable and certain derivative contracts, where the fair values have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk.

For financial assets and financial liabilities that have a short-term maturity (less than twelve months), the carrying amounts, which are net of impairment, are a reasonable approximation of their fair value. Such instruments include: cash and balances, Trade receivables, cash and cash equivalents, bank deposits and trade payables. Such amounts have been classified as Level 3 on the basis that no adjustments have been made to the balances in the balance sheet.

The fair values for loans were calculated based on cash flows discounted using a current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risk.

The fair values of debt securities, borrowing other than debt securities, subordinate liability are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

4. Derivatives

Forward Rate Agreement (FRA) / Interest Rate Swap (IRS)

The Company has not entered into any Forward Rate Agreement/Interest Rate Swap transactions during the current financial year and in the previous financial year. Hence disclosures relating to Forward Rate Agreement/Interest Rate Swap are not applicable.

Exchange Traded Interest Rate (IR) Derivative

The Company has not entered into any Exchange Traded Interest Rate (IR) Derivatives transactions during the current financial year and in the previous financial year. Hence disclosures relating to Exchange Traded Interest Rate (IR) Derivatives are not applicable.

Disclosures on Risk Exposure in Derivatives

A. Qualitative Disclosure

The Company has Board approved risk management policy for capital market exposure including derivatives contract trading. Risk Management Team independently calculates sensitivities and revalues portfolio on daily basis and ensures that risk limits are adhered on daily basis. Market risk limits have been established at portfolio level.

The Company has a process whereby periodically all long term contracts (including derivative contracts) are assessed for material foreseeable losses. At the year end, the Company has reviewed and ensured that adequate provision as required under any law/ accounting standards there are no foreseeable losses on such long term contracts (including derivative contracts) has been made in the books of accounts (Refer "Significant Accounting Policy” point 1).

11. Compliance with approved Scheme(s) of Arrangements

The Company has entered into a scheme of arrangement with Reliance Commercial Finance Limited, the details of which are captured in Note No.64 below.

12. Utilisation of Borrowed funds and share premium

A. During the year, the Company has not advanced 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.

B. During the year, 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 to or on behalf of the Ultimate Beneficiaries

13. Undisclosed income

There is no transaction surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of accounts

14. Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

63. Events after reporting date

There have been no events after the reporting date.

64. Business Combination

a) Scheme of arrangement between the Company and Reliance Commercial Finance Limited ("”RCFL or Demerged company””) and their respective shareholders and creditors has been approved by Honourable National Company Law Tribunal (NCLT), Mumbai Bench vide Order dated 10^th May 2024. The certified copy of the said Order was filed with Registrar of Companies and the effective date of the Scheme of arrangement is 21^st May 2024 and the Appointed Date of the Scheme of arrangement is 1^st October 2023. Pursuant to Scheme the entire Lending Business (Demerged Undertaking) of the RCFL (comprising all assets, liabilities, licences, rights, employees etc. ) has been transferred to the Company with effect from the Appointed Date as going concern in the manner and terms and conditions

as contemplated in the Scheme and accounting for the transaction of the Demerged Undertaking from the period 1^st October 2023 to 31^st March 2024 has been done in the books of the accounts of the Reliance Commercial Finance Limited.

b) Further, all the inter company balances pertaining to the Demerged Undertaking have been cancelled and all the inter company transactions (in relation to the Demerged Undertaking) between Appointed Date and Effective Date have been cancelled.

c) The demerger has been accounted in accordance with Ind-AS 103 "’’Business Combinations””. The financials have been restated with effect from 01^st October, 2023 (Appointed Date).

a) Scheme of arrangement between the Company and Reliance Commercial Finance Limited ("”RCFL or Demerged company””) and their respective shareholders and creditors has been approved by Honourable National Company Law Tribunal (NCLT), Mumbai Bench vide Order dated 10^th May 2024. The certified copy of the said Order was filed with Registrar of Companies and the effective date of the Scheme of arrangement is 21^st May 2024 and the Appointed Date of the Scheme of arrangement is 1^st October 2023. Pursuant to Scheme the entire Lending Business (Demerged Undertaking) of the RCFL (comprising all assets, liabilities, licences, rights, employees etc. ) has been transferred to the Company with effect from the Appointed Date as going concern in the manner and terms and conditions as contemplated in the Scheme.

b) Further, all the inter company balances pertaining to the Demerged Undertaking have been cancelled and all the inter company transactions (in relation to the Demerged Undertaking) between Appointed Date and Effective Date have been cancelled.

c) The demerger has been accounted in accordance with Ind-AS 103 "’’Business Combinations””. The financials have been restated with effect from 01^st October, 2023 (Appointed Date).

65 . The Code on Social Security, 2020 (the Code) has been enacted, which would impact contribution by the Company towards Provident Fund and Gratuity. The effective date from which changes are applicable is yet to be notified and the rules thereunder are yet to be announced. The actual impact on account of this change will be evaluated and accounted for when notification becomes effective.

66. Rs. 0.00 in Standalone Financial Statement indicates amount below Rs.50,000.

67. Previous year figures have been regrouped / rearranged wherever necessary.

This is the standalone notes to account referred to our report of even date.

For H.R. Agarwal & Associates For and on behalf of the Board

Chartered Accountants Firm Reg No: 323029E

Shyam Sunder Agarwal Amit Dangi Sanjay Dangi

Partner Whole Time Director Director

Membership No: 060033 DIN: 06527044 DIN: 00012833

UDIN: 24060033BKDKGJ8836

Place: Mumbai Deepak Dhingra Hitesh Vora

Date: 30^th May, 2024 Chief Financial Officer Company Secretary

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Mar 31, 2023

The Company has utilised the funds raised from banks and financial institutions for the specific purpose for which they were borrowed.

The Company has borrowed funds from financial institutions on the basis of security against shares and securities.

The Company has taken Vehicle Loan from bank against hypothecation of motor vehcile for a tenure of 60 months at a rate of interest 7.70% p.a. paybale in equated monthly instalment. Maturity date is 07th Novermber, 2027.

(b) Terms and rights attached to equity shares

The Company has only one class of equity shares having face value of H1 each. Each holder of equity shares is entitled to one vote per share. 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 holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. In case of trade receivables, cash and cash equivalents, trade payables, short term borrowings and other financial assets and liabilities it is assessed that the fair values approximate their carrying amounts largely due to the short-term maturities of these instruments.

2. The fair values of the financial assets and financial liabilities included above have been determined in accordance with generally accepted pricing models based on a discounted cash flow analysis, with the most significant inputs being the discount rate that reflects the credit risk of counterparties.

Fair Value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 hierarchy - Includes Financial Instruments measured using quoted prices in the active market.

Level 2 hierarchy - The Fair value of Financial Instruments that are not traded in an active market, is determined using valuation techniques which maximize the use of observable market data.

Level 3 hierarchy - Inputs are not based on observable market data. Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

B. Measurement of fair values

Financial instruments fair valued under Level 3 hierarchy are measured using Market multiples method.

The carrying amount of trade receivables, cash and cash equivalents ,other financial assets, trade payables and other financial liabilities are considered to be the fair value due to short term nature.

There are no transfers between level 1 , level 2 and level 3 during the year.

Note: 29 CAPITAL MANAGEMENT

The primary objective of the Company''s Capital Management is to maximise shareholders value. The Company manages its capital to ensure that it will be able to continue as going concerns while maximizing the return to stakeholders through the optimisation of the debt and equity balance. The Company''s policy is to maintain a strong capital base so as to maintain investors, creditors and market confidence to sustain future development of the business. For the purpose of the Company''s capital management, capital includes issued capital and other equity reserves.

Note: 30 FINANCIAL RISK MANAGEMENT

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

Credit risk;

Liquidity risk ; and Market risk

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.

(a) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company regularly monitors the rolling forecasts and the actual cash flows to service the financial liabilities on a day-to-day basis through cash generation from business and by having adequate banking facilities.

(b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers and loans and advances.

(i) Trade receivables:

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer and the geography in which it operates. Concentration of credit risk with respect to trade receivables are limited as the customers are reviewed, assessed and monitored regularly on a monthly basis with pre-determined credit limits assessed based on their payment capacity. Our historical experience of collecting receivables demonstrates that credit risk is low.

(ii) Other financial assets:

The Company has exposure in Cash and cash equivaients,empioyee loans and investment carried at amortised cost. The Company''s maximum exposure to credit risk as at 31st March, 2023 is the carrying value of each class of financial assets as on that date.

(c) Market Risk

Market risk is the risk that changes in market prices - such as equity prices,interest rates and foreign exchange rates that will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

Risk management structure

The Board of Directors are responsible for the overall risk management approach and for approving the risk management strategies and principles.

The Board has constituted the Risk Management Committee which is responsible for monitoring the overall risk process within the Company.

The Risk Management Committee has the overall responsibility for the development of the risk strategy and implementing principles, frameworks, policies and limits. The Risk Management Committee is responsible for managing risk decisions and monitoring risk levels.

The Chief Risk officer is responsible for implementing and maintaining risk related procedures to ensure an independent control process is maintained.

There is a shortfall of H2.27 Cr. (Previous year: Excess of H0.29 cr.) in the CSR amount required to be spent by the Company as per section 135(5) of the Act for the financial years ended March 31, 2023 and March 31, 2022. The company has deposited H2.50 Cr. in unspent CSR account u/s 135(5) of the Act.

CSR activities include Education, Preventive Healthcare, Contribution towards Primary, Secondary and Higher Education and other activities which are specified under Schedule VII of Companies Act, 2013.

The Company has neither made any CSR Contributions towards its related parties nor recorded any provision for CSR expenditure during the financial years ended March 31, 2023 and March 31, 2022.

The above maturity pattern of assets and liabilities has been prepared by the Company after taking into consideration structural liquidity guidelines for assets-LiabiLities management (ALM) system in non-banking financial companies issued by RBI, best practices and best estimate of the Assets-Liability Committee with regard to the timing of various cash flows, which has been relied upon by the auditor.

35) The Company has given effect to a RBI Circular No. DNBS.PD.CC.No.207/ 03.02.002 / 2010-11 dated 17th January, 2011 and accordingly created Contingent Provision against Standard Assets in its Financial Statement.

36) LIQUIDITY RISK MANAGEMENT

Public Disclosure on Liquidity Risk for the year ended March 31, 2023 pursuant to RBI circular dated November 04, 2019 on Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies:

The company has created proper Escrow mechanism with bank and all sales are routed through proper channel and sale consideration is directly credited to the company''s bank account on the same day and ensure that there is no loss to the company on these assets.

38) 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.

39) 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, 2023 and March 31,2022.

40) COMPLIANCE WITH APPROVED SCHEME(S) OF ARRANGEMENTS:

None of the Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

41) UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM:

The Company, as part of its normal business, grants loans and advances, makes investment, provides guarantees to and accept borrowings from its customers, other entities and persons. These transactions are part of Company''s normal nonbanking finance business, which is conducted ensuring adherence to all regulatory requirements.

Other than the transactions described above, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has also not received any fund from any parties (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

42) UNDISCLOSED INCOME:

There are no transactions not recorded in the books of accounts.

43) DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY:

The Company has not traded or invested in Crypto currency or Virtual currency during the financial years ended March 31, 2023 and March 31, 2022.

44) 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, 2023 and March 31, 2022.

45) WILFUL DEFAULTER:

The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the financial years ended March 31, 2023 and March 31, 2022.

46) RELATIONSHIP WITH STRUCK OFF COMPANIES

The company did not have any transaction with any companies whose name have been struck off under section 248 of the Companies Act, 2013 in the financial years ended March 31, 2023 and March 31, 2022.

1. As defined in point xxvii of paragraph 3 of Chapter II of Master Direction - Non-Banking Financial Company -Systemicaiiy Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.

2. Provisioning norms shall be applicable as prescribed in Indian Accounting Standards by MCA.

3. ALL notified Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up / fair value / NA V in respect of unquoted investments shall be disclosed irrespective of whether they are classified as amortised cost or at fair value (5) above.

48) The previous year figures have been reclassified to confirm to current years classifications.

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Mar 31, 2018

1. Public Deposits

The Company has not accepted any public deposit during the year.

2. Related Party Disclosure

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below:

Related parties with whom the company had transactions during the year.

4. Remuneration to Auditors: 2017-2018 2016-2017

For Statutory Audit 94,400 /- 82,298/

For Tax Audit 23,600/- 16,100/

For Other Matters Nil 51,750/-

6. Segment Reporting

The Company deals in only one segment and in one geographical location only hence the detailed segment reporting as per Accounting Standard 17 notified by the Companies (Accounting Standard) Rules, 2006 is not required.

7. Deferred Tax Liabilities/ (Assets)

(Amount in Rs.)

Opening Charged (Credited) Closing

Tax impact of difference between carrying amount

of fixed assets Nil Nil Nil

as per books of account and as per Income tax.

8. No employee benefits in the form of Provident Fund, Superannuation and Gratuity etc. are applicable to the Company.

9. During the year the company has changed its revenue recognition policy from receipt basis to accrual basis in respect of accounting of Dividend Income. Due to such change profit for the FY 2017-18 has increased by Rs. 19,058,800/-.

10. The Company has not received any intimation from “Suppliers” regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act has not been given.

11. Corporate Social Responsibility (CSR):

(a) Gross amount required to be spent by the company during the year was Rs.10,77,465/-.

(b) Amount Spent during the year on:

(c) The Company considers social responsibility as an integral part of its construct, as per the requirements of prevalent guidelines, constituted CSR committee during the year and the committee formulated the guiding principles of the Company CSR initiatives which are laid under the Policy formulated and adopted by the Board. Through the mandated amounts of Rs.10,77,465/- were not expended during the FY 2017-18, after the constitution of the CSR committee, a plan is laid out to implement a program which shall be in line with stated objectives shortly. The directors shall report the progress later at an opportune time.

12. The Company has given effect to a RBI Circular No.DNBS.PD.CC.No.207/ 03.02.002 / 2010-11 dated 17th January, 2011 and accordingly created Contingent Provision against Standard Assets in its Financial Statement.

13. Disclosure on Specified Bank Notes

During the previous year, the Company had Specified Bank Notes (SBNs) or other denomination notes as defined in the MCA notification, G.S.R. 308(E), dated March 30, 2017. The details of SBNs held and transacted during the period from November 8, 2016 to December 30, 2016, the denomination-wise SBNs and other notes as per the notification were as follows:

Note: For the purpose of this clause, the term ‘Specified Bank Notes’ shall have the same meaning provided in the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs Number S.O. 3407(E), dated November 8, 2016.

14. Figures for the previous year have been re-grouped and/or re-arranged wherever found necessary.

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Mar 31, 2016

NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31^st MARCH 2016.

1. Public Deposits

The Company has not accepted any public deposit during the year.

2. Related Party Disclosure

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below:

Related parties with whom the company had transactions during the year.

(i) Key Management Personnel (KMPs) Mr. Navin Kumar Jain

ii) Relatives of KMPs Mrs. Arti R. Kathotia

iii) Enterprise over which KMPs or their relatives is able to exercise significant influence

Enterprises over which relatives of Excellent Sales Pvt Ltd (significant influence till

KMPs able to exercise significant 23/07/2014)

influence.

Subhkam Properties LLP (Formerly known as Subhkam Properties Pvt Ltd)

Subhkam Securities Pvt Ltd

5. Segment Reporting

The Company deals in only one segment and in one geographical location only hence the detailed segment reporting as per Accounting Standard 17 notified by the Companies (Accounting Standard) Rules, 2006 is not required.

7. No employee benefits in the form of Provident Fund, Superannuation and Gratuity etc. are applicable to the Company.

AUTHUM INVESTMENT & INFRASTRUCTURE LIMITED

8. The Company has not received any intimation from “Suppliers” regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act has not been given.

9. As a matter of prudence, the Company has given effect to a RBI Circular No.DNBS.PD.CC.No.207/ 03.02.002 / 2010-11 dated 17th January, 2011 and accordingly created Contingent Provision against Standard Assets in its Financial Statement.

10. Figures for the previous year have been re-grouped and/or re-arranged wherever found necessary.

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Mar 31, 2014

(a) Terms / rights attached to Equity Shares

The Company has only one class of equity shares having par value of Its 10/- per share. All these shares have the same right with respect to payment of dividend, repayment of capital and voting.

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

1. Public Deposits

The Company has not accepted any public deposit during the year.

2. Related Party Disclosure

Related parties with whom die company had transactions during the year.

(i) Key Management Personnel (KMPs} Mr. Navin Kumar Jain

ii) Relatives ot KMPs Mrs. Arti R. Katliotia

iii) Enterprise over which ICMPs or then- relatives is able to exercise significant influence

Enterprises over which relatives of Excellent Sales Pvt. Ltd.

ICMPs able to exercise significant Subhkam Securities Pvt. Ltd. influence. Subhkam Properties Pvt. Ltd.

The Company deals in only one segment and in one geographical location only hence die detailed segment reporting as per Accounting Standard 17 notified by the Companies (Accounting Standard) Rules, 2006 is not required.

3. The Company has not received any intimation from "Suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act has not been given.

4. As a matter of prudence, the Company has given effect to a RBI Circular No.DNBS.PD.CC.No.207/ 03.02.002 / 2010-11 dated 17th January, 2011 and accordingly created Contingent Provision against Standard Assets in its Financial Statement.

5. Figures for the previous year have been re-grouped and/or re-arranged wherever found necessary.

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Mar 31, 2013

(a) Terms / rights attached to Equity Shares

The Company has only one class of equity shares having par value of Rs 10/- per share. All these shares have the same rinht with respect to payment of dividend, repayment of capital and voting.

In the event of liquidation of the company the holder of equity share will be enlited to receivers remaining assets of the Company after disrtibution of all the preferential distribution will be in proportion to the number of equity share held by the

1. Public Deposits

The Company has not accepted any public deposit during the year.

2. Related Party Disclosure

Related parries with whom tire company had transactions during the year (i) Key Management Personnel iKMPsi Mr. Navin Kumar Jain ii) Relatives of KMPs Arti R. Kathoria

Enterprise over which KMPs or their relatives is able to exercise significant influence: Excellent Sales Pvt. Ltd

(b) The Company has issued 8,234,350 bonus shares in the ratio of 2:5 in its Annual General Meeting held on 29* September, 2012, These bonus shares are allotted on 15th October, 2012. The EPS figure for the previous year have been reworked to give effect of this allotment of bonus shares, as required by the Accounting Standard (AS) 20-"Eaming Per Share."

3. Segment Reporting

Phe Company deals in only one segment and in one geographical location only hence die detailed segment reporting as per Accounting Standard 17 notified by the Companies (Accounting Standard) Rules, 2006 is not required.

4. No employee benefits in the form of Provident Fund, Superannuation and Gratuity etc. are applicable to the Company.

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Mar 31, 2012

1, Public Deposits

The Company has not accepted any public deposit during the year.

2. Related Party Disclosure

Information given in accordance with Accounting Standard-18. -

(i) Kev Management Personnel (a) Mr. Aditya Parekh

(ii) Transactions with Related Parties

No Transaction has been done during the year with related parties.

3. Segment Reporting

The Company deals in only one segment and in one geographical location only hence the uKnt reporting as per Accounting Standard 17 notified by the Companies (Accounting Standard) Rules, 2006 is not required,

4. No employee benefits in the form of Provident Fund, Superannuation and Gratuity etc. are applicable to the Company.

5. The Company has not received any intimation from Suppliers'''' under tile"Micro, Small and Medium Enterprises Development Act. ,006 and hence dSosu^Jf any, relating to amounts unpatd as a, the year end together with interestpaid/payable as required under the said Act has not been given.

67. As a matter of prudence, the Company has given effect to a RBI Circular No.DNBS.PD.CC.No.207/ 03.02.002/ 2010-11 dated 17th January, 2011 and accordingly created Contingent Provision against Standard Assets in its Financial Statement .

7. Figures for the previous year have been re-grouped and/or re-arranged wherever found necessary.