Notes to Accounts of Capital Trust Ltd.

Mar 31, 2025

h Provisions, contingent liabilities and contingent assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the
Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. If the effect of the time
value of money is material, provisions are determined by discounting the expected future cash flows to net present value using an appropriate pre¬
tax discount rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.

A present obligation that arises from past events, where it is either not probable that an outflow of resources will be required to settle or a reliable
estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are also disclosed when there is a possible
obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company. Claims against the Company, where the possibility of any outflow of resources in
settlement is remote, are not disclosed as contingent liabilities.

Contingent assets are not recognised in the financial statements since this may result in the recognition of income that may never be realised.
However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and is recognised.

i Income Tax

Income tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it relates to items recognised
directly in Other Comprehensive Income.

i. Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or
receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax assets and
liabilities are offset only if, the Company:

a) has a legally enforceable right to set off the recognised amounts; and

b) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

ii. Deferred tax

Deferred tax is provided using the liability method on temporary differences arising between the tax base of assets and liabilities and their
carrying amounts in the financial statements. Deferred tax is determined using tax rates that have been enacted or substantially enacted by the
end of the reporting period and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.
Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it is probable that future taxable amounts
will be available to utilise those temporary differences.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that
sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re¬
assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax
asset to be recovered.

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

j Cash and cash equivalent

Cash and cash equivalents comprise cash on hand, cash at bank and short-term deposits with an original maturity of three months or less that are
readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value.

k Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration.

Company as a lessee

The Company assesses if a contract is or contains a lease at inception of the contract. A contract is, or contains, a lease if the contract conveys the
right to control the use of an identified asset for a period time in exchange for consideration.

The Company recognizes a right-of-use asset and a lease liability at the commencement date, except for short-term leases of twelve months or
less and leases for which the underlying asset is of low value, which are expensed in the statement of operations on a straight-line basis over 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 interest rate implicit in the lease, or, if not readily determinable, the incremental borrowing rate specific to the country, term and currency of
the contract.

Lease payments can include fixed payments, variable payments that depend on an index or rate known at the commencement date, as well as any
extension or purchase options, if the Company is reasonably certain to exercise these options. The lease liability is subsequently measured at
amortized cost using the effective interest method and remeasured with a corresponding adjustment to the related right-of-use asset when there
is a change in future lease payments in case of renegotiation, changes of an index or rate or in case of reassessments of options.

The right-of-use asset comprises, at inception, the initial lease liability, any initial direct costs and, when applicable, the obligations to refurbish the
asset, less any incentives granted by the lessors. The right-of-use asset is subsequently depreciated, on a straight-line basis, over the lease term, if
the lease transfers the ownership of the underlying asset to the Company at the end of the lease term or, if the cost of the right-of-use asset
reflects that the lessee will exercise a purchase option, over the estimated useful life of the underlying asset. Right-of-use assets are also subject to
testing for impairment if there is an indicator for impairment. Variable lease payments not included in the measurement of the lease liabilities are
expensed to the statement of operations in the period in which the events or conditions which trigger those payments occur. In the statement of
financial position right-of-use assets and lease liabilities are classified on the face of the Balance Sheet.

l Segment Reporting

According to Ind AS 108, identification of operating segments is based on Chief Operating Decision Maker (CODM) approach for making
decisions about allocating resources to the segment and assessing its performance. The business activity of the company falls within one business
segment viz. “Financing Activities”.

m Earning per equity share

The basic EPS is computed by dividing the profit after tax for the year attributable to the equity shareholders by the weighted average number of
equity shares outstanding during the year.

For the purpose of calculating diluted EPS, profit after tax for the year attributable to the equity shareholders and the weighted average number
of equity shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares. Dilutive potential equity shares are
deemed converted as of the beginning of the period, unless they have been issued at a later date. In computing the dilutive earnings per share,
only potential equity shares that are dilutive and that either reduces the earnings per share or increases loss per share are included.

n Upfront servicers fees booked on direct assignment

Servicer fees payable for servicing loan contracts under direct assignment are discounted at the applicable rate entered into with the assignee and
recognised upfront in the balance sheet and amortised on a straight line basis over the remaining contractual maturity of the underlying loans.

Fair value of cash and bank, loans, other receivables, other financial assets, trade payables and other financial liabilities approximate their carrying
amounts largely due to the short-term maturities of these instruments.

(ii) Fair value hierarchy

The fair value of financial instruments as referred (i) above has been classified into three categories depending on the inputs used in the valuation
technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements] and
lowest priority to unobservable inputs [Level 3 measurements].

The categories used are as follows:-

Level 1: Quoted prices / net assets value for identical instruments in an active market;

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and

Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a net asset
value or 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.

(a) Financial Assets and liabilities measured at fair value — recurring fair value measurements

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.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into
the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

(b) Fair value of instruments measured at amortised cost

For the purpose of disclosing fair values of financial instruments measured at amortised cost, the management assessed that fair values of short term
financial assets and liabilities approximate their respective carrying amounts largely due to the short-term maturities of these instruments. Further, the
fair value of long term financial assets and financial liabilities is included at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale.

39 Financial Risk Management

The Company''s primary focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial
performance. The financial risks are managed in accordance with the Company''s risk management policy. The Company''s Board of Directors has
overall responsibility for managing the risk profile of the Company. The purpose of risk management is to identify potential problems before they
occur, so that risk-handling activities may be planned and invoked as needed to manage adverse impacts on achieving objectives.

The Audit Committee of the Company reviews the development and implementation of the risk management policy of the Company on periodic
basis. The Audit Committee provides guidance on the risk management activities, review the results of the risk management process and reports to
the Board of Directors on the status of the risk management initiatives. The Company has exposure to the following risks arising from Financial
Instruments:

In order to avoid excessive concentration of risk, the Company''s policies and procedures include specific guidelines to focus on maintaining a
diversified portfolio. Identified concentrations of credit risks are controlled and managed accordingly.
a Credit Risk

Credit risk is the risk that the Company will incur a loss because its customers or counterparties fail to discharge their contractual obligations. The
Company''s exposure to credit risk is influenced mainly by cash and cash equivalents, other bank balances, investments, loan assets and other
financial assets. The Company continuously monitors defaults of customers and other counterparties and incorporates this information into its credit
risk controls.

Cash and Cash Equivalents

The Company holds cash and cash equivalents and other bank balances as per note 4 and 5. The credit worthiness of such bank is evaluated by the
management on an ongoing basis and is considered to be high.

Loans

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each client. However, management also considers the
factors that may influence the credit risk of its client base, including the default risk of the industry and locations in which clients operate. The
Company Management has established a credit policy under which each new client is analysed individually for creditworthiness through internal
systems and appraisal process to assess the credit risk. The Company''s review includes client''s income and indebtness levels including economic
activity which ensures regular and assured income. The Company establishes an allowance for impairment that represents its expected credit losses in
respect of trade and other receivables. The management uses a three stage model approach for the purpose of computation of expected credit loss
for Loan portfolio.

Forward-looking economic information (including management overlay) is included in determining the 12-month and lifetime expected credit loss
(ECL). The assumptions underlying the ECL are monitored and reviewed on an ongoing basis. Gross carrying value and associated allowances for
ECL stage wise for loan portfolio is as follows :

Loans secured against collateral

The Company''s secured portfolio pertains to Secured Enterprise loans (SEL), which are secured against tangible assets. The Company does not
physically possesses properties or other assets in its normal course of business but makes efforts toward recovery of outstanding amounts on
delinquent loans. Once contractual loan repayments are overdue, the Company initiate the legal proceedings against the defaulted customers. The
exposure to credit risk is Nil as on March 31, 2025 (March 31, 2024 f Nil).

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans and advances to employees, security deposits and other recoverables. Credit risk
related to these other financial assets is managed by monitoring the recoverability of such amounts continuously.

b Liquidity Risk

Liquidity risk is defined as the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that are
settled by delivering cash or another financial asset. Liquidity risk arises because of the possibility that the Company might be unable to meet its
payment obligations when they fall due as a result of mismatches in the timing of the cash flows under both normal and stress circumstances. Such
scenarios could occur when funding needed for illiquid asset positions is not available to the Company on acceptable terms. To limit this risk,
management has adopted a policy of managing assets with liquidity in mind and monitoring future cash flows and liquidity on a regular basis. The
Company has developed internal control processes for managing liquidity risk.

The Company maintains a portfolio of highly marketable and diverse assets that are assumed to be easily liquidated in the event of an unforeseen
interruption in cash flow. The Company assesses the liquidity position under a variety of scenarios, giving due consideration to stress factors relating
to both the market in general and specifically to the Company.

40 Capital Management

The Company''s policy is to maintain a strong capital base so as to maintain investor, lender and market confidence and to sustain future
development of the business. The Company''s objective to manage its capital is to ensure continuity of business while at the same time provide
reasonable returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed
periodically with reference to operating and business plans that take into account of portfolio and strategic Investments. Management monitors the
return on capital as well as the level of dividends to ordinary shareholders. Sourcing of capital is done through judicious combination of
equity/internal accruals and borrowings. The following table summarises the capital of the Company.

43 Contingent liabilities not provided for

Claims against the Company not acknowledged as debts - -

44 Segment Information

According to Ind AS 108, identification of operating segments is based on Chief Operating Decision Maker (CODM) approach for making
decisions about allocating resources to the segment and assessing its performance. The business activity of the company falls within one
business segment viz. “financing activities”. Hence, the disclosure requirement of Ind AS 108 of ‘Segment Reporting’ is not considered
applicable.

45 Leases disclosures
As a Lessee

^a) The Company incurred ? 376.28 Lakhs for the year ended March 31, 2025 (Previous year ? 318.64 Lakhs) towards expenses relating to short¬
term leases and leases of low-value assets.

b) There are no subleasing of right-of-use assets during the year ended March 31, 2025 and March 31, 2024.

c) There are no variable lease payments for the year ended March 31, 2025 and March 31, 2024.

d) Total cash outflow on right to use assets for the year ended March 31, 2025 of Rs. ? Nil and March 31, 2024 ? 0.81 Lakhs.

46 Employee Benefits

a) Defined Contribution Plan :

The Company makes contributions towards provident fund to a defined contribution retirement benefit plan for qualifying employees. Under
the plan, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit plan to fund the benefits. The
company has been recognized following amounts in statement of Profit & Loss for the year:

b) Defined benefit plan

The Company made provision for gratuity as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of
5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is employee''s last drawn basic salary per month
computed proportionately for 15 days salary multiplied for the number of years of service. Gratuity liability is being contributed to the gratuity
fund formed by the company.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at 31
March 2025. The present value of the defined benefit obligations and the related current service cost and past service cost, was measured
using the Projected Unit Credit Method.

(i) Based on the actuarial valuation obtained in this respect, the following table sets out the status of the gratuity plan and the amounts
recognised in the Company’s financial statements as at balance sheet date:

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation
of the sensitivity of the assumptions shown.

(vii) Description of Risk Exposure:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such Company is exposed to various risks
as follow -

Salary Increases - Higher than expected increase in salary will increase the defined benefit obligation.

Investment Risk - Assets / liabilities mismatch and actual investment return on assets lower than the discount rate assumed at the last
valuation date can impact the liability / Assets.

Discount Rate - Reduction in discount rate in subsequent valuations can increase the plan’s liability.

Demographic risk : This is the risk of variability of results due to unsystematic nature of decrements that includes mortality, withdrawals,
disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends on the
combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis
the employee benefit of a short career employee typically costs less per year as compared to a long service employee.

(viii) The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards
Provident Fund and Gratuity. The Ministry of Labour and Employment had released draft rules for the Code on Social Security, 2020 on
November 13, 2020. The Company will assess the impact and its evaluation once the subject rules are notified. The Company will give
appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the
financial impact are published.

47 Other Disclosures

(i) The Company does not have any Benami property, where any proceeding has 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.

(ii) The Company has not advanced or loaned or invested funds during the year to any other person(s) or entity(is), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lendor invest in other persons or entities identified
in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on
behalf of the Ultimate Beneficiaries.

The Company has not received any fund during the year from any person(s) or entity(is), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall: (a) 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 (b) provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period except following
charges which are appearing on the website of the MCA against which the Company has no loan outstanding as at reporting date. The
Company is taking with MCA to remove these charges from its website:

Direct investment in equity shares, convertible bonds, convertible debentures and units of equity-oriented
mutual funds the corpus of which is not exclusively invested in corporate debt; (Refer Note 8)

Advances against shares/ bonds / debentures or other securities or on clean basis to individuals for investment
in shares (including IPOs / ESOPs), convertible bonds, convertible debentures and units of equity-oriented
mutual funds;

Advances for any other purposes where shares or convertible bonds or convertible debentures or units of equity-
oriented mutual funds are taken as primary security;

Advances for any other purposes to the extent secured by the collateral security of shares of convertible bonds
or convertible debentures or units of equity-oriented mutual funds, i.e., where the primary security other than
shares / convertible bonds / convertible debentures / units of equity-oriented mutual funds does not fully cover
the advances;

Secured and unsecured advances to stockholders and guarantees issued in behalf of stockbrokers and market
makers;

Loans sanctioned to corporates against the security of shares / bonds / debentures or other securities or other
securities or on clean basis for meeting promoter''s contribution to the equity of new companies in anticipation
of raising resources;

Bridge loans to companies against expected equity flows / issues.

All exposures to Venture Capital Funds (both registered and unregistered)

(c) Details of financing of parent company products

The company does not have a parent company and accordingly no disclosure required.

(d) Details of single borrower limit (SGL) / group borrower limit (GBL) exceeded by the applicable NBFC

The company does not exceed any limit related to SGL and GBL in the current and previous year.

(e) Unsecured advances

All advances given by the company are unsecured advances to its customers except mentioned in note 7.

As per our report of even date attached

For JKVS & Co. For and on behalf of the Board of Directors

Chartered Accountants
Firm Reg. No. 318086E

B. L. Choraria Yogen Khosla Vahin Khosla

Partner Managing Director Executive Director

Membership No. 022973 DIN: 00203165 DIN: 07656894

Place: Noida Vinod Raina Tanya Sethi

Date: May 27, 2025 Chief Financial Officer Company Secretary

M. No. A31566

Place: New Delhi
Date: May 27, 2025

---

Mar 31, 2024

11.2 The Company has unutilized business losses under the Income Tax Act, 1961 due to substantial portfolio written off in previous years. The Company has concluded that the deferred tax assets recognized on business losses will be recoverable basis the estimated future taxable income based on the approved business plans. The Company is expected to generate taxable income in near future. The business losses can be carried forward and adjusted against future taxable profit within the period as specified in the Income Tax Act, 1961 and the Company expects to recover the same within the specified period.

19.1 Borrowings are secured by way of hypothecation of portfolio loans arising out of its business operation, cash collateral in the form of fixed deposits and mutual funds.

19.2 Vehicles are hypothecated for respective borrowings.

19.3 Following loans have also been guaranteed by promoter director of the Company in his personal capacity and corporate guarantee of Moonlight Equity Private Limited (Shareholders and related parties):

(d) Terms, rights and restrictions attached to equity shares:

The Company has only one class of equity shares having a par value of ? 10 per share (previous year ? 10 per share). All issued shares rank pari-passu and have same voting rights per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the general meeting. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(e) Trust Shares

The Company has created a Employee Benefit Trust (''EBT''). EBT holds equity shares of the Company for the benefit of the employees of the Company. Considering conservative interpretation of Ind AS 32, number of equity shares held by the EBT are reduced from total number of issued equity shares. Equity shares that are held by the trust is deducted from Equity / Other Equity. No gain or loss is recognised in statement of profit and loss on the sale or cancellation of the Company’s own equity instruments.

Fair value of cash and bank, loans, other receivables, other financial assets, trade payables and other financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

(ii) Fair value hierarchy

The fair value of financial instruments as referred (i) above has been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements] and lowest priority to unobservable inputs [Level 3 measurements].

The categories used are as follows:-

Level 1: Quoted prices / net assets value for identical instruments in an active market;

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and

Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a net asset value or 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.

(a) Financial Assets and liabilities measured at fair value — recurring fair value measurements

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.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

Valuation technique used to determine fair value

During the year ended March 31, 2024 and March 31, 2023, there were no transfers between Level 1, Level 2 and Level 3 fair value measurements, and no transfer into and out of Level 3 fair value measurements.

(b) Fair value of instruments measured at amortised cost

For the purpose of disclosing fair values of financial instruments measured at amortised cost, the management assessed that fair values of short term financial assets and liabilities approximate their respective carrying amounts largely due to the short-term maturities of these instruments. Further, the fair value of long term financial assets and financial liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

40 Financial Risk Management

The Company''s primary focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance. The financial risks are managed in accordance with the Company''s risk management policy. The Company''s Board of Directors has overall responsibility for managing the risk profile of the Company. The purpose of risk management is to identify potential problems before they occur, so that risk-handling activities may be planned and invoked as needed to manage adverse impacts on achieving objectives.

The Audit Committee of the Company reviews the development and implementation of the risk management policy of the Company on periodic basis. The Audit Committee provides guidance on the risk management activities, review the results of the risk management process and reports to the Board of Directors on the status of the risk management initiatives. The Company has exposure to the following risks arising from Financial Instruments:

In order to avoid excessive concentration of risk, the Company''s policies and procedures include specific guidelines to focus on maintaining a diversified portfolio. Identified concentrations of credit risks are controlled and managed accordingly. a Credit Risk

Credit risk is the risk that the Company will incur a loss because its customers or counterparties fail to discharge their contractual obligations. The Company''s exposure to credit risk is influenced mainly by cash and cash equivalents, other bank balances, investments, loan assets and other financial assets. The Company continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk controls.

Cash and Cash Equivalents

The Company holds cash and cash equivalents and other bank balances as per note 4 and 5. The credit worthiness of such bank is evaluated by the management on an ongoing basis and is considered to be high.

Loans

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each client. However, management also considers the factors that may influence the credit risk of its client base, including the default risk of the industry and locations in which clients operate. The Company Management has established a credit policy under which each new client is analysed individually for creditworthiness through internal systems and appraisal process to assess the credit risk. The Company''s review includes client''s income and indebtness levels including economic activity which ensures regular and assured income. The Company establishes an allowance for impairment that represents its expected credit losses in respect of trade and other receivables. The management uses a three stage model approach for the purpose of computation of expected credit loss for Loan portfolio.

Forward-looking economic information (including management overlay) is included in determining the 12-month and lifetime expected credit loss (ECL). The assumptions underlying the ECL are monitored and reviewed on an ongoing basis. Gross carrying value and associated allowances for ECL stage wise for loan portfolio is as follows :

Loans secured against collateral

The Company''s secured portfolio pertains to Secured Enterprise loans (SEL), which are secured against tangible assets. The Company does not physically possesses properties or other assets in its normal course of business but makes efforts toward recovery of outstanding amounts on delinquent loans. Once contractual loan repayments are overdue, the Company initiate the legal proceedings against the defaulted customers. The exposure to credit risk is Nil as on March 31, 2024 (March 31, 2023 ? 1.48 Lakhs).

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans and advances to employees, security deposits and other recoverables. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously.

b Liquidity Risk

Liquidity risk is defined as the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Liquidity risk arises because of the possibility that the Company might be unable to meet its payment obligations when they fall due as a result of mismatches in the timing of the cash flows under both normal and stress circumstances. Such scenarios could occur when funding needed for illiquid asset positions is not available to the Company on acceptable terms. To limit this risk, management has adopted a policy of managing assets with liquidity in mind and monitoring future cash flows and liquidity on a regular basis. The Company has developed internal control processes for managing liquidity risk.

The Company maintains a portfolio of highly marketable and diverse assets that are assumed to be easily liquidated in the event of an unforeseen interruption in cash flow. The Company assesses the liquidity position under a variety of scenarios, giving due consideration to stress factors relating to both the market in general and specifically to the Company.

c Market Risk

Market risk is the risk of loss of future earnings, fair values or future cash flows related to financial instrument that may result from adverse changes in market rates and prices (such as interest rates, other prices). The Company is exposed to market risk primarily related to interest rate risk and price risk.

41 Capital Management

The Company''s policy is to maintain a strong capital base so as to maintain investor, lender and market confidence and to sustain future development of the business. The Company''s objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed periodically with reference to operating and business plans that take into account of portfolio and strategic Investments. Management monitors the return on capital as well as the level of dividends to ordinary shareholders. Sourcing of capital is done through judicious combination of equity/internal accruals and borrowings. The following table summarises the capital of the Company.

45 Segment Information

According to Ind AS 108, identification of operating segments is based on Chief Operating Decision Maker (CODM) approach for making decisions about allocating resources to the segment and assessing its performance. The business activity of the company falls within one business segment viz. “financing activities”. Hence, the disclosure requirement of Ind AS 108 of ‘Segment Reporting’ is not considered applicable.

46 Leases disclosures As a Lessee

^a) The Company incurred ? 318.64 Lakhs for the year ended March 31, 2024 (Previous year ? 288.65 Lakhs) towards expenses relating to shortterm leases and leases of low-value assets.

b) There are no subleasing of right-of-use assets during the year ended March 31, 2024 and March 31, 2023.

c) There are no variable lease payments for the year ended March 31, 2024 and March 31, 2023.

) Total cash outflow on right to use assets for the year ended March 31, 2024 of Rs. ? 0.81 Lakhs and March 31, 2023 ? 5.04 Lakhs.

47 Employee Benefits

a) Defined Contribution Plan :

The Company makes contributions towards provident fund to a defined contribution retirement benefit plan for qualifying employees. Under the plan, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit plan to fund the benefits. The company has been recognized following amounts in statement of Profit & Loss for the year:

b) Defined benefit plan

The Company made provision for gratuity as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is employee''s last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service. Gratuity liability is being contributed to the gratuity fund formed by the company.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at 31 March 2024. The present value of the defined benefit obligations and the related current service cost and past service cost, was measured using the Projected Unit Credit Method.

(vii) Description of Risk Exposure:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such Company is exposed to various risks as follow -

Salary Increases - Higher than expected increase in salary will increase the defined benefit obligation.

Investment Risk - Assets / liabilities mismatch and actual investment return on assets lower than the discount rate assumed at the last valuation date can impact the liability / Assets.

Discount Rate - Reduction in discount rate in subsequent valuations can increase the plan’s liability.

Demographic risk : This is the risk of variability of results due to unsystematic nature of decrements that includes mortality, withdrawals, disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends on the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the employee benefit of a short career employee typically costs less per year as compared to a long service employee.

(viii) The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment had released draft rules for the Code on Social Security, 2020 on November 13, 2020. The Company will assess the impact and its evaluation once the subject rules are notified. The Company will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

48 Other Disclosures

(i) The Company does not have any Benami property, where any proceeding has 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.

(ii) The Company has not advanced or loaned or invested funds during the year to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lendor invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

The Company has not received any fund during the year from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) 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 (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iv) The Company has not been declared willful defaulter by any Banks/Financial Institutions.

(v) The Company has not traded or invested in Crypto currency or Virtual currency during the year.

(vi) There is no income which is required to be recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

(vii) There are no transaction with struck off companies during the current and previous year.

(viii) 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.

52 Pursuant to the master direction DNBR.PD. 088/03.10.119/2016-17 dated September 01, 2016 as amended from time to time (the NBFC Master Direction 2016), the Company is a Systemically Important Non-Deposit taking Non-Banking Financial Company.

53 In accordance with the instructions in the RBI circular dated 7 April 2020, all lending institutions shall refund/ adjust ‘interest on interest’ to all borrowers including those who had availed working capital facilities during the moratorium period, irrespective of whether moratorium had been fully or partially availed, or not availed. Pursuant to these instructions, the Indian Banks Association (IBA) in consultation with other industry participants/bodies published the methodology for calculation of the amount of such ‘interest on interest’. Accordingly, the Company has estimated the said amount and made provision for refund/adjustment. As on 31 March 2024, the Company holds the liability of Rs. Nil (Previous Year - Rs. 45.59 Lakhs) to meet its obligation towards refund / adjustment of interest on interest to eligible borrowers as prescribed by the RBI.

54 During the previous year the Company has written off its loan portfolio amounting to Rs. 8,288.31 Lakhs (against which the Company had provision for impairment of Rs. 3,863.46 Lakhs) which was distinguished by joint liability, long tenure, and high ticket size loans which were disbursed before 2020. The Company granted moratorium on these loans as per RBI regulations but after moratorium period, the customers continued to default their scheduled repayments.

4) Disclosure relating to Securitisation

A) The Company has entered into various agreements for the securitisation of loans by way of direct assignment with assignees, wherein it has securitised a part of its loan portfolio amounting to Rs. 901.82 Lakhs during the year ended March 31, 2024 (March 31, 2023: Rs. 320.02 Lakhs), being the principal value outstanding as on the date of the deals. The Company is responsible for collection and getting servicing of this loan portfolio on behalf of investors/buyers. In terms of the said securitisation agreements, the Company pays to investor/buyers on agreed date basis the prorata collection amount as per individual agreement terms.

B) Details of Financial assets sold to securitisation / reconstruction company for assets reconstruction

The Company has not sold any financial assets to Securitisation / Reconstruction company for assets reconstruction during the current and previous year.

Direct investment in equity shares, convertible bonds, convertible debentures and units of equity-oriented mutual funds the corpus of which is not exclusively invested in corporate debt; (Refer Note 8)

Advances against shares/ bonds / debentures or other securities or on clean basis to individuals for investment in shares (including IPOs / ESOPs), convertible bonds, convertible debentures and units of equity-oriented mutual funds;

Advances for any other purposes where shares or convertible bonds or convertible debentures or units of equity-oriented mutual funds are taken as primary security;

Advances for any other purposes to the extent secured by the collateral security of shares of convertible bonds or convertible debentures or units of equity-oriented mutual funds, i.e., where the primary security other than shares / convertible bonds / convertible debentures / units of equity-oriented mutual funds does not fully cover the advances;

Secured and unsecured advances to stockholders and guarantees issued in behalf of stockbrokers and market makers;

Loans sanctioned to corporates against the security of shares / bonds / debentures or other securities or other securities or on clean basis for meeting promoter''s contribution to the equity of new companies in anticipation of raising resources;

Bridge loans to companies against expected equity flows / issues.

All exposures to Venture Capital Funds (both registered and unregistered)

(c) Details of financing of parent company products

The company does not have a parent company and accordingly no disclosure required.

(d) Details of single borrower limit (SGL) / group borrower limit (GBL) exceeded by the applicable NBFC

The company does not exceed any limit related to SGL and GBL in the current and previous year.

(e) Unsecured advances

All advances given by the company are unsecured advances to its customers except mentioned in note 7.

59 Previous year figures have been regrouped / rearranged wherever necessary to conform current year’s figure. However same is not material.

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Mar 31, 2018

1. Company Overview

Capital Trust Limited is a public Company incorporated in India under the provisions of the erstwhile Companies Act, 1956. Its shares are listed on Bombay Stock Exchange and National Stock Exchange. The Company is Non-banking Financial Company which is registered with Reserve Bank of India (‘RBI’’). The Company is engaged in the business of Micro Finance and Small Enterprise Loan.

(A) Terms, rights and restrictions attached to equity shares:

The Company has only one class of equity shares having a par value of Rs. 10 per share (previous year Rs. 10 per share). All issued shares rank pari-passu and have same voting rights per share. The Company declares and pays dividend in indian rupees, if any. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing general meeting. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(f) During the previous year ended 31st March 2017, 143,915 equity share were alloted to Capital Employee Welfare Trust at a price of ‘559 aggregating to ‘ 80,448,490 under the scheme of Capital Trust Employee Option Scheme 2016.

(h) During the year, no share warrants were pending for conversion into equity shares (previous year, 1,550,000 share warrants held by Managing Director were converted into equal number of equity shares at a price of Rs. 117 per equity share, balance 1,857, 500 share warrants aggregating to Rs. 54,331,875 was forfeited).

The Board has recommended dividend of Rs. 0.50 (fifty paise only) per share on 16361415 equity shares (previous year Rs. 1.50 (One Rupee and fifty paise only) per share on 16361415, which is subject to approval by the shareholders in annual general meeting.

b. Terms and conditions of secured loans and nature of security

1. Term loans from banks and financial institutions except loan from Manaveeya Development and Finance Private Limited, which is secured by way of only hypothecation of loan receivables, are secured by way of hypothecation of the outstanding loan portfolio, in addition to the fixed deposits being held as collateral security.

2. Vehicle loans from HDFC Bank were secured against hypothecation of respective vehicles.

3. In addition to the above, following loans are also secured by way guarantees:

i) All term loans from MAS Financial Services Ltd are secured by way of personal guarantee of all directors.

ii) Terms loans from AU Financiers (India) Limited, Bank of India, IDBI Bank Limited and Moneywise Financial Services Private Limited are secured by way of personal guarantee of Managing Director and corporate guarantee of a shareholder.

iii) Term loans from DCB Bank Limited, Andhara Bank, State Bank of India, Small Industries Development Bank of India, Nabkishan Finance Limited and Nabsamruddhi Finance Limited are secured by way of personal guarantee of Managing Director.

iv) Term loan from Manaveeya Development and Finance Private Limited is secured by way of personal guarantee of Managing Director and a Director.

* Represents standard assets classified in accordance with the RBI prudential norms (refer note 15(a))

** Represents non-performing assets classified in accordance with the RBI prudential norms (refer note 15(a))

(i) Represents deposits placed as margin money to avail term loans from financial institutions.

2(a) Loan to customers

Loans to customers has been classified in accordance with the directives issued by RBI prudential norms, read with accounting policy.

* Based on the expert opinion obtained by the company, crystallisation of liability on these items is not considered probable.

3 The Company has given interest free collateral free loan of Rs. 8,05,10,000 (Previous Year Rs. 8,05,10,000) in earlier year to Capital Employee Welfare Trust under the scheme Employee Stock Option Scheme (“ESOP”) to purchase equity shares of the company under such scheme. The loan is repayable by the trust under a back to back arrangement by the trust with the employees of the company.

4 The Company has created ESOP Trust for the welfare of employees in the name of Capital Employees Welfare Trust. That the Trust is holding 143915 Equity shares in the company in the category of Non promoter Non Public. The Trust has not granted any options to the employees yet.

5 Rs. 65,63,625 ( previous year Rs. 6,20,33,479) received as commission during the year from Yes Bank Limited on account of business correspondent (BC) agreement with the Bank. This BC commission is earned by the company on facilitation of advances in rural as well as urban areas on behalf of Yes Bank Limited. Total exposure of Yes Bank Limited on this portfolio is Nil as on 31 March 2018 (previous year Rs. 34,32,18,281).

6 Segment Reporting

The Company operates in a single reportable segment i.e., financing, which has similar risks and returns for the purpose of AS 17 on ‘Segment Reporting’. The Company operates in a single geographical segment ie., domestic market.

7 Operating Lease

Office premises are obtained on operating lease. Lease payments made under cancellable operating lease agreegating to Rs. 3,04,01,720 (previous year: Rs. 2,61,62,672) disclosed as rent and the same has been recognised as an expense in the statement of profit and loss.

3) Derivatives

The Company does not have any derivatives exposure in the current and previous year.

4) Disclosure relating to Securitisation

A) The Company does not have any Securitisation exposure in the current and previous year

B) Details of Financial assets sold to securitisation / reconstruction Company for assets reconstruction

The Company has not sold any financial assets to Securitisation / Reconstruction Company for assets reconstruction during the current and previous year.

D) Details of non performing financials assets purchased / sold

The Company has not purchased / sold any non-performing financial assets (relating to securitisation) during the current and previous year.

6) Exposure

(a) Exposure to real estate sector

The Company does not have any real estate exposure in the current and previous year.

(b) Exposure to capital market

The Company does not have any exposure to capital market in the current and previous year.

(c) Details of financing of parent Company products

The Company does not have a parent Company and accordingly no disclosure required.

(d) Details of single borrower limit (SGL) / group borrower limit (GBL) exceeded by the applicable NBFC The Company does not exceed any limit related to SGL and GBL in the current and previous year.

(e) Unsecured advances

All advances given by the Company are unsecured advances to its customers (refer note 15).

7) Miscellaneous

(a) Registration obtained from other financial sector regulators

The Company is registered with following other financial sector regulators (Financial regulators as described by Ministry of Finance):

(i) Ministry of Corporate Affairs

(ii) Ministry of Finance (Financial Inteligence Unit)

(b) Disclosures of penalties imposed by RBI and other regulators

No penalties imposed by RBI or other financial sector regulators during the current and previous year.

(c) Related party transactions

Details of all material related party transactions are disclosed in note 31.

(d) Ratings assigned by credit rating agencies and migration of ratings during the year

The details of ratings assigned by Credit Analysis & Research Limited (CARE) vide their report dated 06 Feb,2018: Facilities Rating

Long-term facilities BBB

(e) Remuneration of directors

Details relating to remuneration of directors are disclosed in note 31.

f. Overseas assets (for those with joint ventures and subsidiaries aboard)

The company did not have any overseas assets during the current and previous year.

g. Off-balance sheet SPVs sponsored (which are required to be consolidated as per accounting norms) The company did not sponsor any SPVs during the current and previous year.

8 Foreign currency outflow on travelling and business promotion expenses are Nil/- (previous year ‘ Nil/-)

9 Remittance in foreign currency on account of Dividends

10 Disclosures as per schedule V of securities and exchange board of india (Listing Obligation and Disclosure Requirements) Regulation, 2015.

11 Pursuant to the master direction DNBR. PD. 008/03.10.119/2016-17 issued by the Reserve Bank of India, as updated on 9 March 2017, the Company has become Systemically Important Non-Deposit taking Non-Banking Financial Company during the current year.

12 Previous year’s figures have been taken from the accounts audited by previous auditor and figures have been regrouped/ reclassified to conform to currrent year’s figures wherever required.

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Mar 31, 2017

b. Terms and conditions of secured loans and nature of security

Term loans from banks and financial institutions except loan from Manaveeya Development and Finance Private Limited, which is secured by way of only hypothecation of loan receivables, are secured by way of hypothecation of the outstanding loan portfolio, in addition to the fixed deposits being held as collateral security. Vehicle loans from HDFC Bank were secured against hypothecation of respective vehicles.

In addition to the above, following loans are also secured by way guarantees:

1. All term loans from MAS Financial Services Ltd are secured by way of personal guarantee of all directors.

2. Terms loans from AU Financiers (India) Limited, Bank of India, IDBI Bank Limited and Moneywise Financial Services Private Limited are secured by way of personal guarantee of Mr. Yogen Khosla (Managing Director) and corporate guarantee of Indo Crediop Private Limited (shareholder).

3. Term loans from DCB Bank Limited, Andhara Bank, State Bank of India, Small Industries Development Bank of India, Nabkishan Finance Limited and Nabsamruddhi Finance Limited are secured by way of personal guarantee of Mr. Yogen Khosla (Managing Director).

4. Term loan from Manaveeya Development and Finance Private Limited is secured by way of personal guarantee of Mr. Yogen Khosla (Managing Director) and Mrs. Anju Khosla (Executive Director).

c. Terms and conditions of unsecured loans

Term loans from Capital First Limited and Moonlight Equity Private Limited are unsecured and carry interest in the range of 16.00% per annum to 18.00% per annum

(31 March 2016 : 18.00% per annum)

5Related party disclosure

In accordance with the required Accounting Standard (AS-18) on related party disclosures where control exist and where transactions have taken place and description of the relationship as identified and certified by management are as follows:

Name of related parties and description of relationship

Key Management Personnel (KMP) 1 Mr. Yogen Khosla (Managing Director)

Relatives of Key Management Personnel 1 Mr. Vahin Khosla

2 Mrs. Anju Khosla

Subsidiary 1 Capital Trust Microfinance Private Limited (Formerly known as Parikarma

Investments & Financial Services Private Ltd.) (w.e.f. 26 September 2016) Enterprise over which KMP and their 1 Italindian Trade & Financial Services Private Limited

relatives can exercise significant influence 2 Indo Crediop Private Limited

3 Vaibhav Farms Private Limited

4 Vishwas Welfare Foundation (Formerly known as Vishwas Credit & Livelihood Program)

5 Yogen Khosla & Sons (HUF)

6 Moonlight Equity Private Limited

7 Soter Capital India Private Limited

8 Capital Employee Welfare Trust (w.e.f. 7 October 2016)

9 M/s Capital Trust Microfinance Private Limited (Formerly known as Parikarma Investments & Financial Services Private Ltd.)

(up to 26 September 2016)

10 Capital Trust Housing Finance Private Limited

3) Derivatives

The Company does not have any derivatives exposure in the current and previous year

4) Disclosure relating to Securitization

A) The Company does not have any Securitizations exposure in the current and previous year

B) Details of Financial assets sold to securitization / reconstruction Company for assets reconstruction

The Company has not sold any financial assets to Securitization / Reconstruction Company for assets reconstruction during the current and previous year.

D) Details of non performing financials assets purchased / sold

The Company has not purchased / sold any non-performing financial assets (relating to securitization) during the current and previous year

(c) Details of financing of parent Company products

The Company does not have a parent Company and accordingly no disclosure required.

(d) Details of single borrower limit (SGL) / group borrower limit (GBL) exceeded by the applicable NBFC

The Company does not exceed any limit related to SGL and GBL in the current and previous year.

(e) Unsecured advances

All advances given by the Company are unsecured advances to its customers (refer note 15).

) Miscellaneous

(a) Registration obtained from other financial sector regulators

The Company has not obtained registration from other financial sector regulators

(b) Disclosures of penalties imposed by RBI and other regulators

There have been no penalties imposed on the Company by RBI or other financial sector regulators during the current year and previous year.

(c) Related party transactions

Details of all material related party transactions are disclosed in note 31.

(d) Ratings assigned by credit rating agencies and migration of ratings during the year

The details of ratings assigned by Brickwork Rating India Private Limited dated 18 August 2016 and Credit Analysis & Research Limited (CARE) vide their report dated 21 November 2016:

6 As per the provision of Section 135 sub-section 5 of the Companies Act, 2013, the board shall ensure that the Company spends in every financial year at least 2% of the average net profit of the preceding 3 financial year for undertaking CSR activities. However it is further clarified as per the second proviso of Section 135(5), if the Company fails to spend such amount for its CSR Activities, then the Company shall specify in its Board Report the reason for not spending such amount.

The Company is of the view that it is working for the upliftment of poor people and also imparting financial literacy. The Company has provided training to Urban people in various fields in finance and credit sector free of cost and have provided employment to deserving candidates among them. So the Company feels that there is no additional CSR expenditure required.

7 Rs,620.33 lakh (previous year Rs,1057.39 lakh) received as commission during the year from Yes Bank Limited on account of business correspondent (BC) agreement with the Bank. This BC commission is earned by the Company on facilitation of advances in rural as well as urban areas on behalf of Yes Bank Limited. Total exposure of Yes Bank Limited on this portfolio is Rs,34.32 crores as on 31 March 2017 (previous year Rs, 99.96 crores).

8 Foreign currency outflow on travelling and business promotion expenses are Nil/- (previous year Rs, 49,519/-).

9 Contingent liabilities

There is one legal case pending against the Company pending with State Commission Disputes Redressal Commission, Delhi with a total amount involved is Rs,61,300/.

10 The management is of the opinion that there is a virtual certainty of realizing DTA of Rs, 17,577,044/- created in the books (including Rs, 4,305,239/- for the previous year).

11 Segment Reporting

The Company has only one business segment ''''Financing'''' as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 -''''Segmental Information'''' notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended).

The Company has only one geographical segment. The Company caters mainly to the needs of the domestic market.

12 Lease payments made under cancellable operating lease amounting to Rs 26,162,672 (previous year: Rs 16,858,189) disclosed as rent and the same has been recognized as an expense in the statement of profit and loss.

13 Pursuant to the master direction DNBR. PD. 008/03.10.119/2016-17 issued by the Reserve Bank of India, as updated on 9 March 2017, the Company has become Systemically Important Non-Deposit taking Non-Banking Financial Company during the current year.

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Mar 31, 2016

. Vehicle Loans are secured against hypothecation of respective Vehicles

i. HDFC Bank Auto Premium Loan No.20464597 repayable in 60 monthly equal installments of '' 41,852/-, including interest @11.57% PA commencing from March 5, 2012

ii. HDFC Bank Auto Premium Loan No. 25239755 repayable in 60 monthly equal installments of Rs.15,133/- , including interest @10.75% PA commencing from October 7, 2013

iii. HDFC Bank Auto Loan No.26837649 repayable in 60 monthly equal installments of Rs. 6598/-, including interest @11.50% PA commencing from February 7, 2014 Company has raised secured term loan from A U Financier (India) Ltd, for small enterprise finance, against exclusive hypothecation of specific book debts:

(a.) Term Loan-I of Rs. 5,00,00,000 has been raised on 24.12.2014 having interest rate of 15.35% (revised rate), with interest bearing 10% FLDG in terms of security deposit (maturing at the end of loan), repayable in 30 equated installments, against personal guarantee of Managing Director and corporate guarantee of Indo Crediop private limited (shareholder company)

(b.) Term Loan-II of Rs. 5,00,00,000 with interest rate of 15.75% raised on 11.01.2016, repayable in 36 equated installments, against personal guarantee of Managing Director and corporate guarantee of Indo Crediop private limited (shareholder company)

Company has raised secured term loan of Rs. 10,00,00,000 from Bank of Maharashtra sanctioned on 30.09.2015, for small enterprise finance, against exclusive hypothecation of specific book debts, with interest bearing 15% FLDG in terms of security deposit (maturing at the end of loan) repayable in 54 equated monthly installments, against personal guarantee of Managing Director and corporate guarantee of Indo Crediop private limited (shareholder company)

Company has raised secured term loan of Rs. 20,00,00,000 from State Bank of India sanctioned on 20.01.2016, for small enterprise finance, against exclusive hypothecation of specific book debts, with interest bearing 15% FLDG in terms of security deposit (maturing at the end of loan)

* Subordinate Debts for Rs. 30500000/- are taken from Moonlight Equity Private Ltd repayable after a period of 5 years, interest @18% will be paid on monthly basis.

1. Cash Credit from State Bank of India secured against assignment of Small Enterprise Finance receivables on 1 charge on specific book debts and personal guarantee of Sh Yogen Khosla (managing director).

Cash Credit Limit for a period of 12 months repayable monthly along with interest @ 12.30% PA as per drawing power based on monthly stock statement.

2. Rs.1057.39 Lacs ( Previous Year Rs.196.05 Lacs) received as Commission during the year from YES Bank Ltd on account of Business Correspondent (BC) agreement with Yes Bank. This BC Commission is earned by the company on facilitation of Advances in Rural as well as Urban Areas on behalf of Yes Bank. Total exposure of Yes Bank on this Portfolio is Rs.99.96 Crores as on March 31, 2016 (Previous Year Rs. 85.88 Crores).

3. Other Income includes fee based charges received from prospective borrowers on account of comprehensive and detailed search, valuation, verification and due diligence of the relevant documents.

4. a) Actual receipts of foreign currency is Rs.NIL (previous Year Rs.NIL).

b) Foreign currency outflow on travelling and business promotion expenses are Rs. 49,519/- (previous year Rs. 7,13,575/-)

5. Contingent Liabilities

1) The company has entered into an agreement with MAS Financial Services Ltd for managing of portfolio on partnership basis as per terms of agreement with Mas Financial Services Ltd and is contingently liable to an extent of Rs. 82,90,23,526 (Interest & Principal) not accounted for in the Accounts.

2) There is one legal cases pending against the company pending with State Commission Disputes Redressal Commission, Delhi with a total amount involved is Rs. 61,300/-.

6. Pursuant to enactment of Companies Act, 2013, the company has applied the estimated useful lives as specified in Schedule II, accordingly the unamortized caring value is being depreciated/amortized over the revised/remaining useful life of the Asset In respect of the Fixed Assets whose life has been expired as at 1 of April 2014.

7. The management is of the opinion that there is a virtual certainty of realizing DTA of Rs. 43,05,239/- created in the books (including Rs. 29,57,355/- for the previous year )

8. Sundry debtors/ Advances as at the Balance Sheet date in view of management represent bonafide sums due from debtors for services arising on or before that date and advances for value to be received in cash or in kind respectively.

9. Some borrower requested a change in their repayment schedule agreed by them at the time of granting of loan. Further, these customers also agreed to make fortnightly instead of monthly faster repayment of the loan. Considering, their request, the management agreed to restructure 363 no. of accounts after due verification.

10. Segment Reporting

The Company has only one business segment ''''Financing'''' as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 - ''''Segmental Information'''' notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended).

The Company has only one Geographical Segment. The Company caters mainly to the needs of the domestic market.

11. Schedule to the Balance sheet of NBFC (as required in terms of paragraph 9BB of Non Banking Financial Companies prudential norms (Reserve Bank ) directions, 1998

12. MSME undertakings as defined under the Micro, Small and Medium Development Act 2006, to whom the Company owes a sum are Rs. NIL (Previous year Rs. NIL)

13. Previous year figures have been regrouped/reclassified wherever considered necessary, to make them comparable with current year figures.

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Mar 31, 2015

1 Actual receipts of foreign currency is Rs.NIL (previous Year Rs.NIL).

2 Foreign currency outflow on travelling and business promotion expenses are Rs. 7,13,575 /- (previous year Rs. 1,44,41,14/-)

3 Contingent Liabilities

1) The company has entered into an agreement with MAS Financial Services Ltd for managing of their portfolio and is contingently liable to an extent of Rs. 50,88,66,484 (Interest & Principal) not accounted for in the Accounts.

2) There are 3 legal cases pending against the company with a total amount involved is Rs. 2,81,156/-.

4 Pursuant to enactment of Companies Act, 2013, the company has applied the estimated useful lives as specified in Schedule II, accordingly the unamortized carring value is being depreciated/amortized over the revised/remaining useful life of the Asset In respect of the Fixed Assets whose life has been expired as at 1st of April 2014, Rs. 1,61,659 has been adjusted net of tax from the opening balance of profit and loss account.

5 The depreciation expense in the Statement of Profit and Loss for the year is higher by Rs. 1.89 Lacs consequent to the change in the useful life of the assets.

6 The management is of the opinion that there is a virtual certainty of realizing DTA of Rs 29,57,355/- created in the books (including Rs 23,39,160/- for the previous year )

7 Sundry debtors/ Advances as at the Balance Sheet date in view of management represent bonafide sums due from debtors for services arising on or before that date and advances for value to be received in cash or in kind respectively. Some of the balances however are subject to confirmation from respective parties

8 Sundry Creditors and other payables as at the Balance Sheet date in view of management represent bonafide sums payable by the company against the services / sums received, which would be paid / disbursed in due course of time. Some of the balances wich are duly reconciled but, are subject to confirmation except related parties who have confirmed the balance outstanding in their account.

9 Segment Reporting

The Company has only one business segment ''Financing'' as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 - ''Segmental Information'' notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended).

The Company has only one Geographical Segment. The Company caters mainly to the needs of the domestic market.

10 Schedule to the Balance sheet of NBFC (as required in terms of paragraph 9BB of Non Banking Financial Companies prudential norms (Reserve Bank ) directions, 1998

11. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr. Yogen Khosla (Managing Director)

2 Mr. Surendra Mahanti (Director)

3 Mr. Vijay Kumar (Director)

4 Mr. Hari Bhaskaran (Director)

5 Mrs. Anju Khosla (Director)

6 Mr. Mukesh Sehgal (C.F.O)

7 Ms. Tanys sethi (C.S.)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1 M/S Moonlight Equity Pvt Ltd.

2 M/S Italindian Trade & Financial Services P. Ltd.

3 M/S Indo Crediop Pvt Ltd.

4 M/S Vaibhav Farms Pvt Ltd.

5 M/S Vishwas Credit & Livelihood Programme.

6 M/S Parikarma Investments & Financial Services Pvt Ltd.

12 MSME undertakings as defined under the Micro, Small and Medium Development Act 2006, to whom the Company owes a sum are Rs .NIL Previous year NIL.

13 Previous year figures have been regrouped/reclassified wherever considered necessary, to make them comparable with current year figures.

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Mar 31, 2014

1. Vehicle Loans are secured against hypothication of respective Vehicles

i. HDFC Bank Auto Loan No. 16774738 repayble in 60 monthly equal instalments of Rs.18,537/- including interest @10.76% P A commencing from 5th July 2010.

ii. HDFC Bank Auto Premium Loan No.20464597 repayable in 60 monthly equal instalments of Rs.41,852/- including interest @11.57% PA commencing from 5th March 2012

iii. HDFC Bank Auto Premium Loan No.25239755 repayable in 60 monthly equal instalments of Rs.15,133/- including interest @10.75% PA commencing from 7th October 2013.

iv. HDFC Bank Auto Loan No.26837649 repayable in 60 monthly equal instalments of Rs.6598/- including interest @11.50% PA commencing from 7th Feb 2014

1) The liability for gratuity is covered under the group gratuity scheme with Life Insurance Corporation of India and Contributions made for the current year have been charged to profit and loss account as per certificate provided by LIC of India and counter certificate from certified Actuary as on 31st March 2014.

Contributions made to the current year have been charged to Profit & Loss Account as per certificate provided by LIC of India and counter certificate from Certified Actuary as on 31st March 2014.

1. Cash Credit from Vijaya Bank secured against assignment of Small Enterprise Finance receivables on 1st charge on specific book debts and personal guarantee of Managing Director

Cash Credit Limit for a period of 12 months repayable monthly along with interest @ 16.25% PA as per drawing power based on monthly stock statement.

2 Term Loans from others (unsecured) except Mount Nathan are secured against assignment of Micro & Small Enterprise Finance receivables on 1st charge on specific book debts. Terms of Loans given in the table.

a) In the opinion of the Board of Directors aggregate value of the Current Assets, Loans & Advances on realization in the ordinary course of the business shall not be less than the amount at which they are stated in the Balance Sheet.

b) (i) Contingent Provision Against Standard Assets/Loan Loss Provision had been Provided as per RBI Guidelines

(ii) Contingent Liabilities on account of Sale of Portfolio/Advance Funding Facility extended by Mas Financial Services Ltd principal and interest Rs.45,88,07,649/- (Previous Year Rs.24,94,85,188)

c) Aggregate amount of debtors/loans due from directors and companies in which they are directors/members are Rs.NIL Lacs. (Previous Year Rs.NIL Lacs)

1. Other Income includes Rs.149000/- (Previous Year Rs.223990/- ) in respect of amount received on closure of two wheler finance division of the company as out of court settlement of NPA''s Civil cases pending in District Courts.

The Company has subscribed the "Group Gratuity Scheme of LIC" for purpose of discharging the gratuity liability under the payment of Gratuity Act. The provision of Gratuity is made as per premium due/payable for the year as per calculation of premium on Actuarial basis certified by a Certified Actuary as required by AS-15. Out of this provision of gratuity, some portion is also funded by LIC of India. Contributions to the Provident Fund and Superannuation Fund are charged to the Profit & Loss Account.

3 Actual receipts of foreign currency is Rs.NIL (previous Year Rs.NIL).

4 Foreign currency outflow on travelling and business promotion expenses are Rs.14,44,114 /- (previous year Rs.168,346/-)

5 Segment Reporting

The Company has only one business segment ''''Financing" as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 - ''''Segmental Information'''' notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended).

The Company has only one Geographical Segment. The Company caters mainly to the needs of the domestic market.

6 Schedule to the Balance sheet of NBFC (as required in terms of paragraph 9BB of Non Banking Financial Companies prudential norms (Reserve Bank ) directions, 1998.

7. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr. Yogen Khosla (Managing Director)

2 Mr. Surendra Mahanti (Director)

3 Mr. Vijay Kumar (Director)

4 Mr. Hari Bhaskaran (Director)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1. M/s. First Realtors Pvt Ltd.

2. M/s. Italindian Trade & Financial Services P. Ltd.

3. M/s. Indo Crediop Pvt Ltd.

4. M/s. Vaibhav Farms Pvt Ltd.

5. M/s. Vishwas Credit & Livelihood Programme

6. M/s. Dreamcann Foods Pvt Ltd.

7. M/s. I C Construction & Services Ltd.

8. M/s. VELO Sportive Pvt Ltd.

9. M/s. V.K. Consultant Pvt. Ltd.

Note:

1 Related party relationship on the basis of requirements of Accounting Standard 18 (AS-18) is identified by the Company and relied upon by the Auditors.

2 Transaction carried out with related parties referred in 1 above, in ordinary course of business:

8 MSME undertakings as defined under the Micro, Small and Medium Development Act 2006, to whom the Company owes a sum are Rs .NIL Previous year NIL.

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Mar 31, 2013

1 As per Certificate obtained from Certified Actuary the company is having an excess provision of gratuity to the extent of 1.54 Lacs. However, no provision is reversed during the year. As per the certificate of Actuary certain previous year figures including "Experience Adjustment on Plan Liabilities-(Gain)/Loss" arenot available.

2 Segment Reporting

The Company has only one business segment "Financing" as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 - "Segmental Information" notified pursuant to the Companies (AccountingStandards) Rules, 2006 (asamended).

The Company has only one Geographical Segment. The Company caters mainly to the needs of the domestic market.

3 Schedule to the Balance sheet of NBFC (as required in terms of paragraph 9BB of Non Banking Financial Companies prudential norms (Reserve Bank ) directions, 1998.

4. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr YogenKhosIa (Managing Director)

2 Mr. Surendra Mahanti (Director)

3 Cdr. K. L. Khullar (Retd.) (Director)

4 Mr. Vijay Kumar (Additional Director)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1. M/s. First Realtors Pvt. Ltd.

2. M/s. Italindian Trade & Financial Services P. Ltd.

3. M/s. IC Construction & Services Ltd.

4. M/s. IndoCrediopPvt. Ltd.

5. M/s. Vaibhav Farms Pvt. Ltd.

6. M/s. Vishwas Credit & Livelihood Programme.

7. M/s. Dreamcann Foods Pvt. Ltd.

5 MSME undertakings as defined under the Micro, Small and Medium Development Act 2006, to whom the Company owes a sum are Rs .NIL Previous year NIL.

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Mar 31, 2012

1 Actual receipts of foreign currency is Rs.NIL (previous Year $.12,91,854/-) which is received as consultancy fees and reimbursement of expenses.

2 Foreign currency outflow on travelling and business promotion expenses are $.3,68,774 /- (previous year $.69,775/-)

3 Deferred Tax:

In view of no taxable income in the current year and also due to uncertainty in future taxable income, the Company has not recorded net Deferred Tax Assets of $.67.64 Lacs as on 31.03.2012 (Previous Year $.90.17 Lacs) arising on account of timing difference as stipulated in Accounting Standard-22 on "Accounting for Taxes on Income".

4 As per Certificate obtained from Certified Actuary the company is having an excess provision of gratuity to the extent of 1.54 Lacs. However, no provision is reversed during the year. As per the certificate of Actuary certain previous year figures including "Experience Adjustment on Plan Liabilities-(Gain)/Loss" are not available.

5 Segment Reporting

The Company has only one business segment ''Financing'' as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard 17 - ''Segmental Information'' notified pursuant to the Companies (Accounting Standards) Rules, 2006 (as amended).

The Company has only one Geographical Segment. The Company caters mainly to the needs of the domestic market. The export turnover is not significant in the context of total turnover.

6. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr. Yogen Khosla (Managing Director)

2 Mr. Surendra Mahanti (Director)

3 Cdr. K. L. Khullar (Retd.) (Director)

4 Mr. C.R. Sharma (Director, till 01.02.2012)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1 M/s. First Realtors Pvt. Ltd.

2 M/s. Italindian Trade & Financial Services P. Ltd.

3 M/s. I. C. Construction & Services Ltd

4 M/s. Indo Crediop Pvt. Ltd.

5 M/s. Vaibhav Farms Pvt. Ltd.

7 MSME undertakings as defined under the Micro, Small and Medium Development Act 2006, to whom the Company owes a sum are Rs. NIL Previous year NIL.

8 The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2011

Contingent Liabilities (not provided for) in respect of:

Claims against the Company not acknowledged as debt, which are pending in different courts.

Current Year Previous Year

Particulars No of Cases Amount No of Cases Amount (Rs.) (Rs.)

1. State Commission, New Delhi Nil 0 Nil 0

2. National Commission, New Delhi Nil 0 Nil 0

3. Civil Judge, Tis Hazari Court Nil 0 Nil 0

4. Consumer Forum Nil 0 Nil 0

Total Rs. Nil 0 Nil 0

2. In the opinion of the Board of Directors aggregate value of the Current Assets, Loans & Advances on realization in the ordinary course of the business shall not be less than the amount at which they are stated in the Balance Sheet.

3. Other income includes Rs.15,019/- from trade investments.(Previous year Rs. 25000/- and Rs. 6,87,971/- in respect of amount received on closure of two wheler finance division of the company as out of court settlement of NPA's Civil cases pending in District Courts.

4. The company has entered into an agreement with Foreign Investment Advisor for raising Equity and Debt from Foreign Market and paid a total advisory cost of USD 16,500/-. The company has decided to treat this expenditure as Deferred Revenue Expenditure spread over next 5 years. One fifth of the total expenditure is charged to revenue under Deferred Expenses written off.

5. The liability for gratuity is covered under the group gratuity scheme with Life Insurance Corporation of India and Contributions made for the current year have been charged to profit and loss account as per certificate provided by LIC of India as on 31st March 2011.

6. Aggregate amount of debtors/loans due from directors and companies in which they are directors/members are Rs.35.71 Lacs. (Previous Year Rs.NIL)

7. Debt due by directors or other officers of the company is Rs. NIL (previous year NIL) Maximum amount of such debts due at any time during the year was Rs. NIL (Previous year (NIL)

8. Actual receipts of foreign currency is Rs.12,91,854/- (previous Year Rs.16,82,916/-) which is received as consultancy fees and reimbursement of expenses.

9. Foreign currency outflow on travelling and business promotion expenses are 69,775 /- (previous year 2,89,210/-)

10. Small Scale Industrial (SME) Undertaking to whom the Company owes a sum are Rs .NIL

11. Previous year figures have been re-grouped wherever necessary to correspond with current year’s presentation.

12. Deferred Tax:

In view of no taxable income in the current year and also due to uncertainty in future taxable income, the Company has not recorded net Deferred Tax Assets of Rs.90.17 Lacs as on 31.03.2011 (Previous Year Rs.48.45 Lacs) arising on account of timing difference as stipulated in Accounting Standard- 22 on “Accounting for Taxes on Income”.

13. The company has been advised that a computation of net profit (for the purpose of calculation of Director’s remuneration under section 349 of the Companies Act, 1956) need not be enumerated since no commission is paid to the directors.

14. Other clauses of paragraph 3,4C & 4D of Part II Schedule VI of the Companies Act, 1956 not commented up to are not applicable.

15. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr. Yogen Khosla (Managing Director)

2 Mr. K.K.Raj (Director)

3 Mr. Surendra Mahanti (Director)

4 Cdr. K. L. Khullar (Retd.) (Director)

5 Mr. J. S. Tomar (Director)

6 Mr. C.R. Sharma (Director)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1 M/s First Capital Trust Stock Brokers Pvt. Ltd.

2 Italindian Trade & Financial Services P. Ltd.

3 M/s I C Construction & Services Ltd

4 M/s Indo Crediop Pvt Ltd

5 M/s Vaibhav Farms Pvt Ltd

Note:

1 Related party relationship on the basis of requirements of Accounting Standard 18 (AS-18) is identified by the Company and relied upon by the Auditors.

2 Transaction carried out with related parties referred in 1 above, in ordinary course of business:

16. SEGMENT INFORMATION :

A. BUSINESS SEGMENT :

Other Disclosures

1. Segments have been identified in line with the Accounting Standard on Segment Reporting (AS-17) taking into account the organization structure as well as the differential risks and returns of these segments.

2. The Company has disclosed Business segment as the primary segment

3. Types of products and services in each business segment: 1. Leasing HP & Loan and others

4. Inter Segment revenues are NIL

5. The Segment Revenues, Results. Assets and Liabilities include the respective amounts identifiable to each of the segment and amounts allocated on a reasonable basis.

---

Mar 31, 2010

1. Contingent Liabilities (not provided for) in respect of Claims against the Company not acknowledged as debt, which are pending in different courts.

Current Year Previous Year

Particulars No of Cases Amount (Rs) No of Cases Amount (Rs)

1. State Commission, New Delhi Nil 0 1 20000

2. National Commission, New Delhi Nil 0 0 0

3. CivilJudge, Tis Hazari Court Nil 0 3 59076

4. Consumer Forum Nil 0 3 60000

Total Rs. Nil 0 7 139076

2. In the opinion of the Board of Directors aggregate value of the Current Assets, Loans & Advances on realization in the ordinary course of the business shall not be less than the amount at which they are stated in the Balance Sheet.

3. Other income includes Rs.25,000/- from trade investments.(Previous year Rs. NIL):

4. The Company has during the year discontinued its Two Wheeler Finance Division and all advances lying there are either provided or settled out of court.

5. Other Income includes Rs. 54,71,688/- in respect of amount received on closure of two wheler finance division of the company as out of court settlement of NPAs Civil cases pending in District Courts.

6. Other Income also includes Rs.67,839/- lying under un-matured Finance Charges in respect of 130 old NPA Cases settled during the year by way of out of Court Settlements

7. Gratuity has been provided on the basis of Actuarial calculations whereas the company has not obtained a certificate from Registered Actuary for the same. Actuarial gains and losses are also not recognized in two cases, due to non availability of Actuarian Value calculated by LIC of India as on 31.03.2009

8. The company has entered into an agreement with Foreign Investment Advisor for raising Equity and Debt from Foreign Market and paid a total advisory cost of USD 16,500/-. The company has decided to treat this expenditure as Deferred Revenue Expenditure spread over next 5 years. One fifth of the total expenditure is charged to revenue under Deferred Expenses written off.

9. The liability for gratuity is covered under the group gratuity scheme with Life Insurance Corporation of India and Contributions made for the current year have been charged to profit and loss account.

10. Aggregate amount of debtors/loans due from directors and companies in which they are directors/members areRs.NIL (Previous Year Rs.NIL)

11. Debt due by directors or other officers of the company is Rs. NIL (previous year NIL) Maximum amount of such debts due at any time during the year was Rs. NIL (Previous year (NIL)

12. Deferred Tax:

Actual receipts of foreign currency is Rs. 16,82,916/- (previous Year Rs.20,32,531/-) which is received as consultancy fees and reimbursement of expenses.

13. Foreign currency outflow on travelling and business promotion expenses are 2 ,89,210/- (previous year4,44,012/-)

14. Small Scale Industrial Undertaking to whom the Company owes a sum are Rs NIL

15. Hire purchase installments are secured against hire purchase contracts.

16. Previous year figures have been re-grouped wherever necessary to correspond with current years presentation.

17. Deferred Tax: In view of no taxable income in the current year and also due to uncertainty in future taxable income, the Company has not recorded net Deferred Tax Assets of Rs.48.45 Lacs as on 31.03.2010 (Previous Year Rs.48.22 Lacs) arising on account of timing difference as stipulated in Accounting Standard-22 on "Accounting for Taxes on Income".

18. The company has been advised that a computation of net profit (for the purpose of calculation of Directors remuneration under section 349 of the Companies Act, 1956) need not be enumerated since no commission is paid to the directors.

19. Related Party Information:

1. Relationship

(a) Key Management Personnel

1 Mr. Yogen Khosla (Managing Director)

2 Mr. K.K.Raj (Director)

3 Mr. Surendra Mahanti (Director)

4 Cdr. K. L. Khullar (Retd.) (Director)

5 J.S.Tomar (Additional Director)

(b) Relatives of Key Management Personnel

1 Mrs. Anju Khosla

2 Yogen Khosla & Sons HUF

(c) Other Related Parties where control exists:

1 First Realtors Pvt. Ltd.

2 Italindian Trade & Financial Services P. Ltd.

3 IC Constructions Services Ltd

4 IndoCrediopPvtLtd

Note:

1 Related party relationship on the basis of requirements of Accounting Standard 18 (AS-18) is identified by the Company and relied upon by the Auditors.

Other Disclosures

1. Segments have been identified in line with the Accounting Standard on Segment Reporting (AS-17) taking into account the organization structure as well as the differential risks and returns of these segments.

2. The Company has disclosed Business segment as the primary segment

3. Types of products and services in each business segment: 1. Leasing HP & Loan & others

4. Inter Segment revenues are NIL

5. The Segment Revenues, Results. Assets and Liabilities include the respective amounts identifiable to each of the segment and amounts allocated on a reasonable basis.