Notes to Accounts of Chartered Capital & Investment Ltd.

Mar 31, 2024

12.2 Detail of the Rights, Preference and Restriction Attaching to Equity Shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each share holder of equity shares is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding.

Description of nature and purpose of each reserve:

General Reserve - General reserve is created from time to time by way of transfer of profits from retained earnings for appropriation purposes. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.

Securities premium reserve - Securities premium reserve is used to record the premium on issue of shares. These reserve is utilised in accordance with the provisions of the Companies Act.

Equity instruments through other comprehensive income - This represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive income, under an irrevocable option, net of amounts reclassified to retained earnings when such assets are disposed off.

Debt instruments through other comprehensive income - This represents the cumulative gains and losses arising on the revaluation of debt instruments measured at fair value through other comprehensive income that have been recognized in other comprehensive income, net of amounts reclassified to profit or loss when such assets are disposed off and impairment losses on such instruments.

The Company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

Types of inputs for determining fair value are as under:

Level 1: This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of investment in quoted equity shares, mutual fund investments and alternate Capital Fund.The mutual funds and alternate Capital Fund are valued using the closing NAV.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities included in level 3.

Financial instruments measured at fair value

i) Transfers between Levels 1 and 2

There have been no transfers between Level 1 and Level 2 during the reporting periods

ii) Level 3 fair values

There have been no Movements in the values of unquoted equity instruments for the period ended 31st March 2024 and 31st March 2023.

B. Financial risk management

The Company''s financial liabilities comprise mainly of borrowings, trade payables and other payables. The Company''s financial assets comprise mainly of investments, cash and cash equivalents, other balances with banks, loans and other receivables.

The Company is exposed to Market risk, Credit risk and Liquidity risk. The Board of Directors (''Board'') oversee the management of these financial risks. The Risk Management Policy of the Company formulated by the Board, states the Company''s approach to address uncertainties in its endeavor to achieve its stated and implicit objectives. It prescribes the roles and responsibilities of the Company''s management, the structure for managing risks and the framework for risk management. The framework seeks to identify, assess and mitigate financial risks in order to minimize potential adverse effects on the Company''s financial performance.

The following disclosures summarize the Company''s exposure to financial risks. Quantitative sensitivity analysis have been provided to reflect the impact of reasonably possible changes in market rates on the financial results, cash flows and financial position of the Company.

1) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risks: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk includes borrowings, investments, trade payables, trade receivables and loans.

a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Since the Company has insignificant interest bearing borrowings, the exposure to risk of changes in market interest rates is minimal. The Company has not used any interest rate derivatives.

b) Foreign Currency Risk

FForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchange rates. The company is engaged in the business of providing consultancy services and merchant banking services in India, therefore the Company has no foreign currency risk.

c) Other Price Risk

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price.Other price risk arises from financial assets such as investments in equity instruments.The Company is mainly exposed to the price risk due to its investments in equity instruments recognised at FVTOCI.As at 31st March, 2024, the carrying value of such equity instruments amounts to Rs. 3317.26 Lakhs( Rs.1 1371.28 Lakhs as at 31st March, 2023). The details of such investments in equity instruments are given in Note 3. The price risk arises due to uncertainties about the future market values of these investments.

The Company is also exposed to price risk arising from investments in mutual funds recognised at FVTPL. As at 31st March, 2024, the carrying value of the investments in mutual funds amounts to Rs.9815.57 Lakhs ( Rs. 172.37 Lakhs as at 31st March, 2023). The details of such investments in mutual funds are given in Note 3. The price risk arises due to uncertainties about the future market values of these investments.

The Company is mainly exposed to change in market rates of its investments in equity instruments recognised at FVTOCI. A sensitivity analysis demonstrating the impact of change in market prices of these instruments from the prices existing at the reporting date is given below:

If the prices had been higher/lower by 10% from the market prices existing as at 31st March, 2024. Other Comprehensive Income for the year ended 31st March, 2024 would increase/decrease by Rs.331.73 Lakhs (2022-23 Rs. 1137.13 Lakhs) with a corresponding increase/decrease in Total Equity of the Company as at 31st March, 2024. 10% represents management''s assessment of reasonably possible change in equity prices.

2) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter party to a financial instrument fails to meet its contractual obligations resulting in a financial loss to the Company. To manage this, the Company periodically assesses financial reliability of customers and other counter parties, taking into account the financial condition, current economic trends, and analysis of historical bad debts and ageing of financial assets. Individual risk limits are set and periodically reviewed on the basis of such information .The Company considers Credit risk arises primarily from financial assets such as investment in equity instruments, trade receivables, investment in mutual funds, other balances with banks, loans.

Credit risk arising from investment in mutual funds and other balances with banks is limited and there is no collateral held against these because the counter parties are banks and recognised financial institutions with high credit ratings assigned by the credit rating agencies.

Financial assets are written off when there is no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company. Where loan or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable dues. Where recoveries are made, these are recognized as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends. Based on the historical data, loss on collection of receivable is not material, hence, no provision is considered.

Financial Assets are considered to be of good quality and there is no significant increase in credit risk.

3) Liquidity Risk

Liquidity risk is the risk that the company will encounter in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The approach of the company to manage liquidity is to ensure , as far as possible, that these will have sufficient liquidity to meet their respective liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risk damage to their reputation. The company assessed the concentration of risk with respect to refinancing its debt and concluded it to be low.

The table below summarises the maturity profile of the company''s financial liabilities based on contractual undiscounted payments.

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholders'' value.

As at 31st March, 2024, the Company has only one class of equity shares and has low debt. Consequent to such capital structure, there are no externally imposed capital requirements.

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors and market confidence and to sustain future development and growth of its business. The Company will take appropriate steps in order to maintain, or if necessary, adjust its capital structure.

NOTE 27 : CONTINGENT LIABILITIES AND COMMITMENTS			('' In Lacs)
PARTICULARS		As at 31st March, 2024	As at 31st March, 2023
a.	Contingent Liabilities Claims against the Company not acknowledged as debts: i. Tax matters in dispute under appeal	Nil	Nil
	TOTAL	Nil	Nil
b.	Commitments Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of Advances)	80.00	80.00
	TOTAL	80.00	80.00
NOTE 28 : DISCLOSURE UNDER THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006 ARE PROVIDED AS UNDER FOR THE YEAR 2023-24 TO THE EXTENT THE COMPANY HAS RECEIVED INTIMATION FROM THE “SUPPLIERS" REGARDING THEIR STATUS UNDER THE ACT.
PARTICULARS		As at 31st March, 2024	As at 31st March, 2023
(i)	Principal amount and the interest due thereon remaining unpaid to each supplier at the end of each accounting year (but within due date as per the MSMED Act, 2006) Principal amount due to micro and small enterprise Interest due on above
(ii)	Interest paid by the Company in terms of Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006, along-with the amount of the payment made to the supplier beyond the appointed day during the period
(iii)	Interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the period) but without adding interest specified under the Micro, Small and Medium Enterprises

(iv)	The amount of interest accrued and remaining unpaid at the end of each accounting year	-	-
(v)	Interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprises

Terms and conditions of transactions with related parties

All related Party Transactions entered during the year were in ordinary course of the business and are on arm''s length basis.

For the year ended 31st March, 2024, the Company has not recorded any impairment of receivable relating to amounts owed by related parties (2022-23 Rs. Nil).

NOTE 31: EMPLOYEES'' BENEFITS

(a) Defined Benefit Plan:

The Payment Of Gratuity Act is not applicable to the company since number of eligible employees are less than requisite number.

(b) Defined Contribution Plan:

The company has recognized the following amount in statement of profit and loss which is included under contribution to funds.

NOTE 32 : SEGMENT REPORTING

The company is primarily engaged in the single business segment viz., providing of consultancy services and merchant banking services in India, hence there are no reportable segments as per Indian Accounting Standard 108 "Operating Segments".

NOTE 33 : CORPORATE SOCIAL RESPONSIBILITY

Provisions of Section 135 of the Companies Act, 2013, requires every Company having a net worth of Rupees 500 crore or more, or turnover of Rupees 1000 crore or more or a net profit of rupees 5 crore or more during the immediately preceding financial year shall spend at least 2% of the average net profits of the Company made during the three immediately preceding financial years on Corporate Social Responsibility (CSR). The Company doesn''t fall in any of the above criteria, hence provisions of Section 135 of the Companies Act, 2013, is not applicable to the Company.

i) The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment and capital work-in progress are held in the name of the Company as at the balance sheet date.

ii) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

iii) The Company has not been declared wilful defaulter by any bank or financials institution or other lender.

iv) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

v) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was obtained.

vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

viii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

ix) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year. Material Accounting Policies and key accounting estimates and judgements (Refer Note 1)

See accompanying notes to the financial statements.

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Mar 31, 2023

1.9. Provisions and Contingent Liabilities

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists and it is probable that an outflow of resources embodying economic benefits will be required to settle such obligation and the amount of such obligation can be reliably estimated.

If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured reliably. When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying economic benefits is remote, no provision or disclosure is made.

1.10. Employee Benefits

Short Term Employee Benefits:

Employee benefits payable wholly within twelve months of receiving employee services are classified as short-term employee benefits. These benefits include salaries and wages, bonus, short term compensated absences, ex-gratia, etc. The undiscounted amount of short-term employee benefits to be paid in exchange for employee services is recognised as an expense as the related service is rendered by employees.

Post-Employment Benefits:

(i) Defined Contribution plans:

Defined contribution plans is Government administered provident fund scheme for all applicable employees.

Recognition and measurement of defined contribution plans:

The Company recognizes contribution payable to a defined contribution plan as an expense in the Statement of Profit and Loss when the employees render services to the Company during the reporting period. If the contributions payable for services received from employees before the reporting date exceed the contributions already paid, the deficit payable is recognized as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received before the reporting date, the excess is recognized as an asset to the extent that the prepayment will lead to, for example, a reduction in future payments or a cash refund.

(ii) Defined Benefit plans:

The Payment of Gratuity Act is not applicable to company since numbers of eligible employees are less than requisite number.

1.11. Cash and Cash Equivalents

Cash and cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand deposits with banks where the original maturity is three months or less and other short term highly liquid investments net of bank overdrafts which are repayable on demand as these form an integral part of the Company''s cash management.

1.12. Events after reporting date

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

1.13. Key accounting estimates and judgments

The preparation of the Company''s financial statements requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Critical accounting estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below:

Income taxes

The Company''s tax jurisdiction is India. Significant judgments are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions (Refer Note 25).

Types of inputs for determining fair value are as under:

Level 1: This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of investment in quoted equity shares, mutual fund investments and alternate Capital Fund.The mutual funds and alternate Capital Fund are valued using the closing NAV.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities included in level 3.

Financial instruments measured at fair value

i) Transfers between Levels 1 and 2

There have been no transfers between Level 1 and Level 2 during the reporting periods

ii) Level 3 fair values

There have been no Movements in the values of unquoted equity instruments for the period ended 31st March 2023 and 31st March 2022.

B. Financial risk management

The Company''s financial liabilities comprise mainly of borrowings, trade payables and other payables. The Company''s financial assets comprise mainly of investments, cash and cash equivalents, other balances with banks, loans and other receivables.

The Company is exposed to Market risk, Credit risk and Liquidity risk. The Board of Directors (''Board'') oversee the management of these financial risks. The Risk Management Policy of the Company formulated by the Board, states the Company''s approach to address uncertainties in its endeavor to achieve its stated and implicit objectives. It prescribes the roles and responsibilities of the Company''s management, the structure for managing risks and the framework for risk management. The framework seeks to identify, assess and mitigate financial risks in order to minimize potential adverse effects on the Company''s financial performance.

The following disclosures summarize the Company''s exposure to financial risks. Quantitative sensitivity analysis have been provided to reflect the impact of reasonably possible changes in market rates on the financial results, cash flows and financial position of the Company.

1) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risks: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk includes borrowings, investments, trade payables, trade receivables and loans.

a) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Since the Company has insignificant interest bearing borrowings, the exposure to risk of changes in market interest rates is minimal. The Company has not used any interest rate derivatives.

b) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchange rates.The company is engaged in the business of providing consultancy services and merchant banking services in India, therefore the Company has no foreign currency risk.

c) Other Price Risk

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments in equity instruments.The Company is mainly exposed to the price risk due to its investments in equity instruments recognised at FVTOCI.As at 31st March, 2023, the carrying value of such equity instruments amounts to Rs. 1 1371.28 Lakhs( Rs.6576.91 Lakhs as at 31st March, 2022). The details of such investments in equity instruments are given in Note 3. The price risk arises due to uncertainties about the future market values of these investments.

The Company is also exposed to price risk arising from investments in mutual funds recognised at FVTPL.As at 31st March, 2023, the carrying value of the investments in mutual funds amounts to Rs.172.37 Lakhs ( Rs. 116.79 Lakhs as at 31st March, 2022). The details of such investments in mutual funds are given in Note 3. The price risk arises due to uncertainties about the future market values of these investments.

The Company is mainly exposed to change in market rates of its investments in equity instruments recognised at FVTOCI. A sensitivity analysis demonstrating the impact of change in market prices of these instruments from the prices existing at the reporting date is given below:

If the prices had been higher/lower by 10% from the market prices existing as at 31st March, 2023. Other Comprehensive Income for the year ended 31st March, 2023 would increase/decrease by Rs.1137.13 Lakhs (2021-22 Rs. 657.69 Lakhs) with a corresponding increase/decrease in Total Equity of the Company as at 31st March, 2023. 10% represents management''s assessment of reasonably possible change in equity prices.

2) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter party to a financial instrument fails to meet its contractual obligations resulting in a financial loss to the Company.To manage this, the Company periodically assesses financial reliability of customers and other counter parties, taking into account the financial condition, current economic trends, and analysis of historical bad debts and ageing of financial assets. Individual risk limits are set and periodically reviewed on the basis of such information.The Company considers Credit risk arises primarily from financial assets such as investment in equity instruments, trade receivables, investment in mutual funds, other balances with banks, loans.

Credit risk arising from investment in mutual funds and other balances with banks is limited and there is no collateral held against these because the counter parties are banks and recognised financial institutions with high credit ratings assigned by the credit rating agencies.

Financial assests are written off when there is no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company. Where loan or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable dues. Where recoveries are made, these are recognized as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on historical trend, industry practices and the business environment in which the entity operates.Loss rates are based on actual credit loss experience and past trends. Based on the historical data, loss on collection of receivable is not material, hence, no provision is considered.

Financial Assets are considered to be of good quality and there is no significant increase in credit risk.

3) Liquidity Risk

Liquidity risk is the risk that the company will encounter in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The approach of the company to manage liquidity is to ensure , as far as possible, that these will have sufficient liquidity to meet their respective liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risk damage to their reputation. The company assessed the concentration of risk with respect to refinancing its debt and concluded it to be low.

The table below summarises the maturity profile of the company''s financial liabilities based on contractual undiscounted payments.

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholders'' value.

As at 31st March, 2023, the Company has only one class of equity shares and has low debt. Consequent to such capital structure, there are no externally imposed capital requirements.

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors and market confidence and to sustain future development and growth of its business. The Company will take appropriate steps in order to maintain, or if necessary, adjust its capital structure.

The company is primarily engaged in the single business segment viz., providing of consultancy services and merchant banking services in India, hence there are no reportable segments as per Indian Accounting Standard 108 "Operating Segments".

NOTE 34 : CORPORATE SOCIAL RESPONSIBILITY

Provisions of Section 135 of the Companies Act, 2013, requires every Company having a net worth of Rupees 500 crore or more, or turnover of Rupees 1000 crore or more or a net profit of rupees 5 crore or more during the immediately preceding financial year shall spend at least 2% of the average net profits of the Company made during the three immediately preceding financial years on Corporate Social Responsibility (CSR). The Company doesn''t fall in any of the above criteria, hence provisions of Section 135 of the Companies Act, 2013, is not applicable to the Company.

i) The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment and capital work-in progress are held in the name of the Company as at the balance sheet date.

ii) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

iii) The Company has not been declared wilful defaulter by any bank or financials institution or other lender.

iv) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

v) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was obtained.

vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

viii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

ix) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year. Significant Accounting Policies and key accounting estimates and judgements (Refer Note 1)

See accompanying notes to the financial statements.

As per our report of even date attached

For F P & ASSOCIATES FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Chartered Accountant

(Firm Registration No. 143262W)

(F.S.SHAH) Mohib N. Khericha Sofia Mohib Khericha

PARTNER Managing Director Director

Membership No. 133589 (DIN: 00010365) (DIN: 02695350)

Ahmedabad Javedmehdi S. Saiyed Manojkumar Ramrakhyani

May 25, 2023 Chief Financial Officer Company Secretary

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Mar 31, 2015

1. Related Party Disclosure

a) Names of related parties and nature of relationship

I. Key Management Personnel and their relatives (KMP)

1. Shri Sanantan Munsif Chairman

2. Shri Mohib Khericha Managing Director

3. Shri A. L. Sanghvi Vice Chairman

II. Enterprise under significant influence of key management personnel(Enterprise)

(i) Shabina Enterprise.

(ii) TD Power Systems Limited

(iii) Saphire Finman Services Private Limited (Up to 01/01/2015)

(iv) Saphire Finman Services LLP (From 02/01/2015)

(v) Laburnum Chemicals Private Limited

Notes:-

(i) No amounts pertaining to related parties have been provided for as doubtful debts. Also no amounts have been written off or written back during the year.

2. Segment Reporting:

The company is engaged in the business of providing consultancy services and merchant banking services in India and there are no separate reportable primary or secondary segments as per Accounting Standard 17 Segment Reporting issued by the ICAI.

3. Employees' Benefits

(a) Defined Benefit Plan :

The Payment of Gratuity Act is not applicable to company since numbers of eligible employees are less than requisite number.

(b) Defined contribution plan :

The Company has recognized the following amount in Profit and Loss Account which is included under contribution to funds.

4. Details of dues to micro and small enterprises as defined under the MSMED Act,2006There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

5. Activity in foreign currency:

Expenditure & Income in foreign currencies – Nil

6. Investments of the Company have been considered by the management to be of long-term nature and hence they are valued at cost of acquisition. In respect of quoted investments where the market value is lower than the acquisition cost, provision is made for diminution in the value of such investments, since in the opinion of the board it is a other than temporary phenomenon and provision is necessary.

7. The company has been exempted from registration with Reserve Bank of India under Section 45 IA of Reserve Bank of India Act, 1934.

8. Previous year's figures have been rearranged and reclassified wherever necessary to correspond with the current year.

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Mar 31, 2014

1. Related Party Disclosure

a) Names of related parties and nature of relationship

I. Key Management Personnel and their relatives (KMP)

1. Shri Sanatan Munsif Chairman

2. Shri Mohib Khericha Managing Director

3. Shri A.L. Sanghvi Vice Chairman

II. Enterprise under significant influence of key management personnel (Enterprise)

(i) Shabina Enterprise.

(ii) TD Power Systems Limited

(iii) Saphire Finman Services Private Limited

(iv) Laburnum Chemicals Private Limited

2. Segment Reporting:

The company is engaged in the business of providing consultancy services and merchant banking services in India and there are no separate reportable primary or secondary segments as per Accounting Standard 17 Segment Reporting issued by the ICAI.

3. Employees* Benefits (a) Defined Benefit Plan :

The Payment of Gratuity Act is not applicable to company since number of eligible employees are less than requisite number.

(b) Defined contribution plan :

The Company has recognized the following amount in Profit and Loss Account which is included under contribution to funds.

4. Details of dues to micro and small enterprises as defined under the MSMED Act,2006

There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31st March,2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

5. Activity in foreign currency Expenditure in foreign currencies - Nil

6. Investments of the Company have been considered by the management to be of Long-term nature and hence they are valued at cost of acquisition. In respect of quoted investments where the market value is Lower than the acquisition cost, no provision is made for diminution in the value of such investments, since in the opinion of the board it is a temporary phenomenon and no provision is necessary.

7. The company has been exempted from registration with Reserve Bank of India under Section 45 IA of Reserve Bank of India Act, 1934.

8. Subsequent developments after SEBI''s order in the matter of IPO of RDB Rasavans Limited

In the matter of IPO of RDB Rasayans Limited, SEBI has initiated an enquiry and issued a Show Cause Notice (SCN) dated July 26, 2013 against the Company under Regulation 25(1) of Securities and Exchange Board of India (Intermediaries) Regulations, 2008 which was replied by the Company in time and enquiry proceedings are under process. Company expects that SEBI will accept its submissions and absolve it from all the charges made against it.

9. Previous year''s figures have been rearranged and reclassified wherever necessary to correspond with the current year.

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Mar 31, 2013

1. COMPANY INFORMATION:

Chartered Capital and Investment Limited is a Public Limited Company, listed on the Ahmedabad Stock Exchange Limited (ASE) and Bombay Stock Exchange Limited (BSE). The Company is registered as Merchant Banker with the Securities & Exchange Board of India (SEBI). The Company is principally engaged in Merchant Banking activities.

2. Related party disclosure

a. Names of related parties and nature of relationship

I. Key Management Personnel and their relatives (KMP)

1. Shri Sanantan Munsif Chairman

2. Shri Mohib Khericha Managing Director

3. Shri A.L. Sanghvi Vice Chairman

II. Enterprise under significant influence of key management personnel (Enterprise)

(i) Shabina Enterprise.

(ii) TD Power Systems Limited

Notes:-

(i) No amounts pertaining to related parties have been provided for as doubtful debts. Also no amounts have been written off or written back during the year.

3 Segment Reporting:

The company is engaged in the business of providing consultancy services and merchant banking services in India and there are no separate reportable primary or secondary segments as per Accounting Standard 17 Segment Reporting issued by the ICAI

4 Employees'' Benefits

(a) Defined Benefit Plan :

The Payment of Gratuity Act is not applicable to company since number of eligible employee are less than requisite number.

(b) Defined contribution plan :

The Company has recognized the following amount in Profit and Loss Account which is included under contribution to funds.

5. Details of dues to micro and small enterprises as defined under the MSMED Act,2006.

There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31st March,2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

6. Activity in foreign currency

Expenditure in foreign currencies - Nil

7. Investments of the Company have been considered by the management to be of long-term nature and hence they are valued at cost of acquisition. In respect of quoted investments where the market value is lower than the acquisition cost, no provision is made for diminution in the value of such investments, since in the opinion of the board it is a temporary phenomenon and no provision is necessary.

8. The company has been exempted from registration with Reserve Bank of India under Section 45 IA of Reserve Bank of India Act, 1934.

9. Hon''ble Securities Appellate Tribunal(SAT) has, vide its order dated October 25,2012,While hearing an appeal made by company against the orders passed by SEBI,set aside the said orders of SEBI and also directed the SEBI to complete the investigation & take appropriate decision qua the appellants by December 31,2012. SEBI had earlier vide its ex-parte ad- interim order dated December 28, 2011 in the matter of IPO of RDB Rasayans Limited for which the Company was the BRLM, has, inter alia, prohibited the Company and its 2 key officials, from taking up any new assignment or involvement on any new issue of capital including IPO, follow-on issue etc. from the securities market in any manner whatsoever from the date of the Impugned Order till further directions. SEBI further confirmed the said order through their confirmatory order dated September 7, 2012.

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Mar 31, 2012

1. BACKGROUND OF THE COMPANY

Chartered Capital and Investment Limited originally incorporated as a Private Limited Company, -was converted into Public Limited Company in 1994. The equity shares of the company are listed on the Ahmedabad Stock Exchange Limited (ASE) and Bombay Stock Exchange Limited (BSE). The Company is registered as Merchant Banker with the Securities & Exchange Board of India (SEBI).'The Company is principally engaged in Merchant Banking activities.

2. Provisions, contingent liabilities and contingent assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not .

recognized but are disclosed in the notes! Contingent Assets are neither recdgnizecl rior disclosed in the financial ' statements: " , ' 4. Cash flow statement

The Cash Flow Statement is prepared by the indirect Method set out in Accounting Standards SrpCaSh Flow Statement & presents cash flows by operating, investing & financing activities of the Company.

5. Impairment of assets

The carrying; amounts of assets are reviewed *t each Balance Sheet date ;f there is Mry indication of impairment based on internal/external factors. An asset is‘impaired -.vfiert --the?'tarrying amount of the asset exceeds the recoverable amount. An impairment loss is charged: to the Pro!;t and Loss Account in the ye^r in which an asset is identified as impaired. An impairment loss recognized in prior accounting periods is rlvlrsed if there' has Iteefi ^ftange in the estimate of the recoverable amount. ,

6. Earnings per Share (EPS) ,

Basic earnings per share is calculated by dividing the net profit or Iciss for the year attributable to equity shareholders -

by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year are adjusted for events such as bonus shares, other than the conversion of potential equity shares, that havechangedthe number of equity shares outstanding without a corresponding change in resources For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity ‘ shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares. 7. Cash and cash equivalents

Cash and cash equivalents include cash fetiand, demand deposits with banks, other short-term highly liquid investments , with original maturities of three months or less.

8.1 Terms / rights attached to Equity Shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each share fiolder of equity shares is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding. .

* Equity shares having face value of Rs. 5/- each have been sub-divided into 5 eqity shares of Rs. 1/- each w.e.f. 6 May 2011.

# 1000 nos. of bonus equity shares has been issued on 16 June 2011.

A Allotment of 662 nos. of equity shares of Network 18 media & investments limited and 3465 nos. of equity shares of IBN 18 Broadcast limited against holding of 5096 nos. of equity shares of Television eighteen limited in pursuant to the scheme of arrangement approved by the Hon'ble High court of Delhi vide its order dated 26 April 2011.

9. Employee's benefits

(a) Defined benefit plan:

No Liability in respect of present or future liability of Gratuity has been ascertained and provided in the accounts (P.Y.

— not ascertained and provided for). This is in contravention with the accounting Standard 15 issued by the Institute of Chartered Accountants of India in respect of accounting for retirement benefits.

(b) Defined contribution plan:

The Company has recognised the following amount in Profjt and Loss Account which is included under contribution to funds.

10. Segment information

The company is engaged in the business of providing consultancy services and merchant banking services in India and there are no separate reportable primary or secondary segments, as per Accounting Standard 17 Segment Reporting issued by the Institute of Chartered Accountants of India.

11. Related party disclosure

(a) Names of related parties and nature of relationship where control exists are as under:

(i) Enterprises under significant influence of key management personnel

a) Shabina enterprise

b) TD Power Systems Limited

(b) Names of other related parties and nature of relationship.

(i) Key management personnel ' ‘

a) Mr. Sanatan N. Munsif - Chairman ' " '

b) Mr. Mohib N. Khericha - Managing Direcor

c) Mr. A. L. Sanghvi - Vice Charman

12. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

13. SEBI vide its ex-parte ad-interim order dated December 28, 2011 in the matter of IPO of RDB Rasayans Limited for which the Company was the BRLM, has, inter alia, restrained/prohibited the Company and its 2 key officials, from taking up any new assignment or involvement on any new issue of capital including IPO, follow-on issue etc from the securities market in any manner whatsoever from the date of the Impugned Order till further directions. The Impugned Order alleges lack of due diligence on the part of the Appellants in the handling of an IPO assignment as a merchant banker. The company has filed its reply to SEBI on January 14, 2012 denying all the allegations against the company and its officials and its officials have also attended personal hearing held at SEBI's office on March 16, 2012. Inspite of repeated requests to SEBI to pass the final order in the matter.

14. Activity in foreign currency

Expenditure in foreign currencies - Nil

15. Investments of the Company have been considered by the management to be of long-term nature and hence they are valued at cost of acquisition. In respect of quoted investments where the market value is lower than the acquisition cost, no provision is made for diminution in the value of such investments, since in the opinion of the board it is a temporary phenomenon and no provision is necessary.

16. The company has been exempted from registration with Reserve Bank of India under Section 45IA of Reserve Bank of India Act, 1934.

17. In the opinion of the Directors, Current Assets and Loans and Advances have a value on realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

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Mar 31, 2010

A. BACKGROUND

Chartered Capital and Investment Limited originally incorporated as a Private Limited Company, was converted into Public Limited Company in 1994. The Company is registered as Merchant Banker with the Securities & Exchange Board of India (SEBI). The Company is principally engaged in Merchant Banking activities.

1. The search was carried out by Income Tax Authorities on 11/02/2010 at the premises of the Company. Income Tax Authorities have seized cash on hand to the extent of Rs. 2,60,000/- which is included in cash on hand of Rs. 3,34,465/- shown in Schedule : 8.

Pursuant to the search, Income Tax Authorities have issued notices U/s 153A(1)(a) of the Income Tax Act to the Company for assessing/reassessing the income as per returns of income filed for Financial years 2003—04 to 2008-09 relevant to assessment year 2004-05 to 2009-10. Company has not yet filed the returns of income in response to above notices as well as return of income for current financial year, as the due date for the same are not yet over. In view of this tax liability, if any, could not be ascertained on the date of signing the Balance Sheet. Tax Liability, if any, that may arise after filing of returns of income and completion of assessments will be accounted/provided for as and when such liabilities will arise.

2. Investments of the Company have been considered by the management to be of long-term nature and hence they are valued at cost of acquisition. In respect of quoted investments where the market value is lower than the acquisition cost, no provision is made for diminution in the value of such investments, since in the opinion of the board it is a temporary phenomenon and no provision is necessary.

3. In the opinion of the Directors, Current Assets and Loans and Advances have a value on realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

4. Employees Benefits

a) Defined Benefit Plan:

No Liability in respect of present or future liability of Gratuity has been ascertained and provided in the accounts (P.Y. — not ascertained and provided for). This is in contravention with the accounting Standard 15 issued by the Institute of Chartered Accountants of India in respect of accounting for retirement benefits.

b) Defined Contribution Plan:

The Company has recognised the following amount in Profit and Loss Account which is included under contribution to funds.

5. The company has been exempted from registration with Reserve Bank of India under Section 45 IA of Reserve Bank of India Act, 1934.

6. Effect of Accounting Standard 22 "Accounting for Taxes on Income".

7. The company is engaged in the business of providing consultancy services and merchant banking services in India and there are no separate reportable primary or secondary segments, as per Accounting Standard 17 Segment Reporting issued by the Institute of Chartered Accountants of India.

8. Expenditure incurred on employees in receipt of remuneration of not less than Rs.24,00,000/- per annum or Rs.2,00,000/ - per month if employed for a part of the year.

9. Related Party Disclosure

a Names of related parties and nature of relationship where control exists are as under:

Enterprise under significant influence of key management personnel :

Shabina Enterprise

TD Power Systems (P) Ltd. b Names of other related parties and nature of relationship.

Key Management Personnel :

Mr.Sanatan N.Munsif - Chairman

Mr.Mohib N.Khericha - Managing Director

Mr. A. L. Sanghvi - Vice Chairman



10. Expenditure In Foreign Currencies : NIL

11. Auditors Remuneration

12 Micro, Small, Medium Enterprises Development Act, 2006

There are no Micro, Small and Medium Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2010. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

13. Previous years figures have been regrouped or rearranged wherever necessary to make them comparable with that of previous year.