Notes to Accounts of CLIO Infotech Ltd.

Mar 31, 2024

n Provisions

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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation
at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a
provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present
value of those cash flows (when the effect of the time value of money is material).

An onerous contract is a contract under which the unavoidable costs (i.e., the costs that the Company cannot avoid
because it has the contract) of meeting the obligations under the contract exceed the economic benefits expected to be
received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is
the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling
a contract comprises the costs that relate directly to the contract (i.e., both incremental costs and an allocation of costs
directly related to contract activities).

o Cash and cash equivalents

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

p Earnings per share

Basic earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares
outstanding during the year.

Diluted earnings per share is computed by dividing the profit after tax as adjusted for dividend, interest and other
charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity
shares considered for deriving basic earnings per share and the weighted average number of equity shares which could
have been issued on the conversion of all dilutive potential equity shares.

For & on Behalf of For and on behalf of Board of Directors,

S D Mehta & Co. CLIO INFOTECH LIMITED

Chartered Accountants
FRN: 137193W

Shaishav D. Mehta Mr. Nirav Rohitkumar Shah Alka Rajendra Mehta

Partner 032891 Managing Director 07246610 Non-Executive Director 03306793

UDIN:24032891BKAFZR2567

UdayShah

CFO

Place: Ahmedabad Place: Mumbai

Date: 27-05-2024 Date: 27-05-2024

Nature of Reserve & Surplus
Securities premium

Securities premium is used to record the premium on issue of shares. This reserve will be utilized in accordance with the provisions of the Companies Act.
General Reserve

General Reserve is a free reserve and is available for distribution as dividend, issue of bonus shares, buyback of the company''s securities. It was created by
transfer of amounts out of distributable profits, from time to time.

Special Fund Reserve

Special reserve fund was created when company was into NBFC Business and same can be used in accordance with provisions of Companies Act.

Equity instruments through other comprehensive income

The Company has opted to recognize changes in the fair value of certain investments In equity instruments through other comprehensive income, under an
irrevocable option. These changes are accumulated within the FVOCI equity investments reserve within equity. The amount under this reserve will be
transferred to retained earnings when such instruments are disposed off.

26 Defined Contribution Plan

Since Company does not have minimum no. of employees required to mandatorily attract Employee Benefit regulations, Company has not provided for
the same.

The Entity operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each
completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of
continuous service. In case of some employees, the Entity''s scheme is more favourable as compared to the obligation under Payment of Gratuity Act,
1972.

| 27 Contingent Liabilities

As per the opinion of the board, there are no contingent liabilities as at the balance sheet date.

The company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed as
contingent liabilities where applicable, in its financial statements. The Board does not expect the outcome of these proceedings to have a materially
adverse effect on its financial statements.

Capital commitment for value of contracts yet to be executed Rs. Nil (P.Y. Nil)

28 Segment Reporting
Business Segment

In accordance with IND AS 108 "Operating segment" - The Company used to present the segment information identified on the basis of internal report
used by the Company to allocate resources to the segment and assess their performance. The Board of Directors of the Company is collectively the Chief
Operating Decision Maker (CODM) of the Company.

The chief operating decision maker monitors the operating results of its segment separately for the purpose of making decisions about resources
allocation and performance assessment. Segment performance is evaluated on the basis on profit and loss

The related party relationship have been determined on the basis of the requirement of the Indian Accounting Standard (Ind AS) - 24 ’ Related Party
Discloures and the same have been relied upon by the auditors.

The relationships as mentioned above pertain to tose related parties with whom transactions have taken place during the current year/previous year,
except where control exists, in which case the relationships have been mentioned irrespective of transactions with the related party.

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

Outstanding balances at the year-end are unsecured and settlement occurs in cash.

There have been no guarantees provided or received for any related party receivables or payables. For the current year, the Company has not recorded
any impairment of receivables relating to amounts owed by related parties (Previous Year: Rs. Nil). This assessment is undertaken each financial year
through examining the financial position of the related party and the market in which the related party operates.

30 Financial Instrument

Financial Risk Management - Objectives and Policies

The key objective of the Company''s financial risk management is to ensure that it maintains a stable capital structure with the focus on total equity to
uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company is focused on maintaining a strong
equity base to ensure independence, security, as well as financial flexibility for potential future borrowings, if required without impacting the risk profile
of the Company.

Company''s principal financial liabilities, comprise Borrowings, trade payables and other payables. The main purpose of these financial liabilities is to
finance Company’s operations. Company''s principal financial assets include trade and other receivables and cash & cash equivalents. Company is
exposed to interest rate risk, credit risk and liquidity risk.

The Company''s Board oversees the management of these risks. The Company''s Board is supported by senior management team that advises on financial
risks and the appropriate financial risk governance framework for the Company. The senior management provides assurance to the Company''s Board
that the Company''s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and
managed in accordance with the Company''s policies and risk objectives.

The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

(a) Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of
fixed interest bearing finacial instruments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows
of floating interest bearing financial instruments will fluctuate because of fluctuations in the interest rates.

Company has interest rate risk exposure mainly from changes in rate of interest on borrowing & on deposit with bank. The interest rate are disclosed in
the respective notes to the financial statements of the Company.

(b) Foreign Currency Risk

The Company is not exposed to any currency risk on account of its borrowings, other payables and receivables in foreign currency. All dealings are done
in domestic markets by the company. The functional currency of the Company is Indian Rupee.

C. Credit Risk

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge their obligations in full or in a
timely manner consist principally of cash balances with banks, cash equivalents and receivables, and other financial assets. The maximum exposure to
credit risk is: the total of the fair value of the financial instruments and the full amount of any loan payable commitment at the end of the reporting
year. Credit risk on cash balances with banks is limited because the counterparties are entities with acceptable credit ratings. Credit risk on other
financial assets is limited because the other parties are entities with acceptable credit ratings.

Financial asset for which loss allowance is measured using expected credit loss model

D Expected Credit Losses:

With the applicability of Ind AS 109, the recognition and measurement of impairment of financial assets is based on credit loss assessment by expected
credit loss (ECL) model. The ECL assessment involve significant management judgement. The Company''s impairment allowance is derived from
estimates including the historical default and loss ratios. Management exercises judgement in determining the quantum of loss based on a range of
factors, like staging criteria, calculation of probability of default / loss and consideration of probability weighted scenarios and forward looking
macroeconomic factors.

The board acknowledges and understands that these factors, since there is a large increase in the data inputs required by the ECL model, which
increases the risk of completeness and accuracy of the data that has been used to create assumptions in the model. Based on the internal management
analysis, as per Board Opinion, there is no requirement of provision for expected credit loss in several financial assets including the trade receivables
and other receivables of the Company and all are on fair value, based on the assessment and judgement made by the board of the company.

In the opinion of management, trade receivable, Financial assets, Cash and cash equivalent, Balance with Bank, Loans and other financial assets havea
value on realisation in the ordinary course of business atleast equal to the amount at which they are stated in the balance sheet.

E Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable
losses. The Company''s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely
monitors its liquidity position and deploys a robust cash management system. It maintains adequate sources of financing including debt and overdraft
from banks at an optimised cost.

E. Capital Management

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves. The primary objective of the
Company''s capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial
covenants. Company monitors capital using a gearing ratio, which is net debts divided by total equity plus net debts. Net debt are non-current and
current borrowings as reduced by cash and cash equivalents, other bank balances and current investments. Equity comprises all components including
other comprehensive income.

31 Details of Benami Property held

The Company do not have any benami property, where any proceeding has been initiated or pending against the company for holding any Benami
property.

32 Wilful Defaulter

The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

33 Relationship with Struck off Companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of
Companies Act, 1956 during the financial year.

34 Balance of Receivables and Payables, including loans , deposits & trade advances given, Inter Corporate Deposits taken, payable to vendors, etc, are
subject to confirmation and consequent reconciliation and adjustments, if any. Further the impairment provision for loans and trade advances given are
subject to documentation of the informal updation in terms of advances. Hence, the effect thereof, on Profit/ Loss, Assets and Liabilities, if any, is not
ascertainable, which may be considerable. As per the opinion of the Board, there will be no substantial impact on their reconciliation with their balance
confirmations as on the reporting date.

35 The company was earlier registered with Reserve Bank of India as "Non Banking Financing Company" (Non Deposit taking Non-Systemically Important)
under Section 45-IA of the Reserve Bank of India Act 1934. The company has discontinued the non-banking financing activities and has also applied to
RBI for the cancellation of registration as NBFC long back. However the approval of RBI for cancellation of NBFC registration is yet to be obtained by the
company.

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Mar 31, 2014

Contingent Liability is disclosed for by way of note for -

a) Possible obligation which will be confirmed only by future events not wholly within the control of the Company or

b) Present obligations arising from the past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

c) Contingent Assets are not recognized in the financial statements since this may result in the recogni- tion of income that may never be realized.

1. Figures have been rounded off to the nearest rupee, wherever required.

2. Accounting standards as prescribed have been followed & reported wherever applicable.

3. In the Opinion of the Board the current assets, loans and advances will fetch the amounts stated, if realized in the ordinary course of business and adequate provision for all known liabilities of the company has been made. Balances shown under Loans, Advances, Sundry Debtors & Creditors are subject to confirmation, reconciliation and subsequent adjustment if any.

4. a) According to management, Company has not given any guarantee on behalf of the Directors or other officers.

5. The Company has not received information from vendors/suppliers regarding their status under the " Micro , Small & Medium Enterprises Act, 2006" and hence disclosure relating to amount unpaid for the period end together with interest paid or payable under this Act has not been given.

6. According to management, No litigations are filed against or pending against the Company. Company does not have any present obligation arising out of any past event. Hence no provision arises or is made for contingent liabilities.

7. Previous Year''s figures have been regrouped / reclassified wherever considered necessary to make them compa- rable with the current year figures.

8. Fees paid to Auditor -

Particulars Amount

For Statutory Audit 11236/-

For other work -

9. Earning Per Share (on Face Value of Rs.10/- each)

In determining the Earnings Per share, the company considers the net profit after tax which includes any post tax effect of any extraordinary / exceptional item. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the period.

The number of shares used in computing Diluted earnings per share comprises the weighted average number of shares considered for computing Basic Earnings per share and also the weighted number of equity shares that would have been issued on conversion of all potentially dilutive shares.

In the event of issue of bonus shares, or share split the number of equity shares outstanding is increased without an increase in the resources. The number of Equity shares outstanding before the event is adjusted for the propor- tionate change in the number of equity shares outstanding as if the event had occurred at the beginning of the earliest period reported.

Basic Earning Per Share - (0.10)

Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 1136974/ 11010950 = (Rs.0.37)

Diluted Earning Per Share - (0.10)

Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 1136974/ 11010950 = (Rs.0.37)

Diluted EPS is similar to Basic EPS as there are no potential equity share as on date.

10. Flat Advance Deposit of Rs.60Lacs paid to Sunil Mantri Realty Pvt. Ltd. is in dispute from Sunil Mantri Realty Pvt. Ltd. & Company has filed case against the same and management is of high opinion that same will be surely recoverable & hence no provision is made towards the same.

11. Companies main object is of Infotech Activity but has carried out Finance Activity which is other than its main object & has applied for cancellation of its NBFC License with RBI & has not complied with said regulations.

12. Expenditure above Rs.1 Lac or 1% of Revenue (whichever is higher) is duly reflected in Schedule of Other Expenses.

13. As none of the employees have completed the minimum length of service as provided in payment of gratuity Act, 1972, no provision for gratuity is required to be made.

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Mar 31, 2013

1. Figures have been rounded off to the nearest rupee, wherever required.

2. Accounting standards as prescribed have been followed & reported wherever applicable.

3. In the Opinion of the Board the current assets, loans and advances will fetch the amounts stated, if realized in the ordinary course of business and adequate provision for all known liabilities of the company has been made. Balances shown under Loans, Advances, Sundry Debtors & Creditors are subject to confirmation, reconciliation and subsequent adjustment if any.

4. a) According to management, Company has not given any guarantee on behalf of the Directors or other Officers,

b) Company has advanced a total sum of Rs.43589950/- to Directors, their Relatives and to other group companies.

5. As per the information provided by the Company there are no dues outstanding, including interest as at 31''" March 2013 to Small and Micro Enterprises as defined under Micro, Small and Medium Enterprises Development (MSMED) Act,2006.

6. According to Company & its management, No litigations are filed or pending against the Company & Company does not have any present obligation arising out of any past events. Hence no provision arises or is made for contingent liabilities.

7. Flat Advance Deposit of Rs.60Lacs paid to Sunil Mantri Realty Pvt. Ltd. is in dispute from Sunil Mantri Realty Pvt. Ltd. & Company has filed case against the same and management is of high opinion that same will be surely recoverable.

8. Expenditure above Rs.l Lac or 1% of Revenue (whichever is higher) is duly reflected in Schedule of Other Expenses.

9. Since the Company is not a broking Company, the quantitative details are not required to be given as specified in clause 3 of part 11 of Schedule VI of the companies Act, 1956. Information with regard to other matters specified in clause 4A, 4C and 4D of part II of the sub-schedule VI of the companies Act, 1956 are either NIL or are not applicable to the company for the year.

10. As none of the employees have completed the minimum length of service as provided in payment of gratuity Act, 1972, no provision for gratuity is required to be made.

11. During the year, Company has completely written off Distribution Rights of Film "Boss" amounting to Rs. 1,00,00,000/-.

12. Company has carried out object other than its Main Object & has not fully complied with NBFC regulations & renewed its registration.

13. Related party transactions are duly informed and reflected in Significant Accounting Policies.

14. Previous year''s figures have been regrouped and/or re arranged wherever considered necessary.

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Mar 31, 2012

1. Income/ (Loss) from Interest include-

i) Net Income from Interest is Rs.5786185/-. (Previous year 4665903/-)

ii) Dividend received on Securities is Rs.2550/-(Previous year Rs.5,250/-).

2. Dues which management feels are not recoverable are written off during the year as Bad Debt.

3. Balances shown under Loans, Advances, Sundry Debtors & Creditors are subject to confirmation, reconciliation and subsequent adjustment if any.

4. In the opinion of the Board, the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the accounts unless otherwise stated and adequate provision for all known liabilities of the company has been made.

5. Since the Company is not a broking Company, the quantitative details are not required to be given as specified in clause 3 of part 11 of Schedule VI of the companies Act, 1956. Information with regard to other matters specified in clause 4A, 4C and 4D of part II of the sub-schedule VI of the companies Act, 1956 are either NIL or are not applicable to the company for the year.

6. As none of the employees have completed the minimum length of service as provided in payment of gratuity Act, 1972, no provision for gratuity is required to be made.

7. Related party transactions are duly informed and reflected in Report to Corporate Governance.

8. Previous year's figures have been regrouped and/or re arranged wherever considered necessary.

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Mar 31, 2010

1. REVENUE RECOGNITION

Interest on Loans is provided @ as agreed with respective parties and same is made on annual basis. Dividend income is recognised as and when the right to receive dividend is established.

Interest and Brokerage Income are recognized on accrual basis except specifically stated. Profit or losses from Investments/ Stock-in-trade are recognised on trade dates on first-in-first out basis. Relevant interests, Dividend are credited to the trade account on accrual basis at the yearend. In respect of contracts relating to shares settled without deliveries profit or losses recognized on the settlement dates.

2. EXPENDITURE

All the expenses comprising interest, rent and charges are provided on accrual basis except certain petty expenses which are accounted on cash basis.

3. TAXES ON INCOME

Current Charge for Income Tax including Deferred Tax, if any, is calculated in accordance with the relevant tax regulations applicable to the Company.

4. In respect of the long term Investments (non-trade), provision for diminution in the value otherwise than temporary if any, has been made by comparing acquisition cost plus any incidental expenses thereto to the closing market value prevailing on 31!l March 2010 or in case of unquoted shares book value based on previous year annual report of the concerned Company as the case may be.

5. Income in investment is generally accounted on accrual basis except where there is a uncertainty about the ultimate recovery/ realisation. Such income is recognised when uncertainty resolves.

6. EMPLOYEE RETIREMENT BENEFITS

Leave encashment liabilities is accounted for on cash basis as the liability on the date of the Balance Sheet is not expected to be material.

7. Material Events occurring after Balance Sheet date are taken into cognizance.

8. PRIOR PERIOD AND EXTRA OWMNARY ITEMS

Prior period and Extra ordinary items and changes in Accounting policies having material impact on the financial affairs of the company, if any, have been disclosed.

7. Contingent liabilities are not provided for and are disclosed by way of notes, if any.