Notes to Accounts of Comfort Commotrade Ltd.

Mar 31, 2025

16. Provisions, Contingent Liabilities and Contingent Assets

a) Provisions

The Company creates a provision when there is present obligation as a result of a past event that
probably requires an outflow of resources and a reliable estimate can be made of the amount of
the obligation. The expense relating to a provision is presented in the statement of profit and loss
net of any reimbursement.

b) Contingent Liabilities:

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. When there is a possible
obligation or a present obligation in respect of which the likelihood of outflow of resources is remote,
no provision or disclosure is made. Provisions are reviewed at each balance sheet date and adjusted
to reflect the current best estimate. If it is no longer probable that the outflow of resources would be
required to settle the obligation, the provision is reversed.

c) Contingent Assets:

Contingent assets are not recognized in the financial statement. However, contingent assets are
assessed continuously and if it is virtually certain that an economic benefit will arise, the asset and
related income are recognized in the period in which the change occurs.

Note 2- Key Accounting Judgment, Use of Estimates & Assumptions:

In the application of the Company''s accounting policies, which are described in note (e) above and preparing
these financial statements, the management of the Company are required to make judgments, estimates
and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognized in the period in which the estimate is revised if the revision affects only that period or in the period
of the revision and future periods if the revision affects both current and future periods.

(b) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares
including restrictions on the distribution of dividends and repayment of capital.

The Company has only one class of Equity Shares having a par value of '' 10/- per share. Each holder of
Equity Share is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.
In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of Equity shares held by the shareholders.

The Company has a defined benefit gratuity plan in India (unfunded). The Company''s defined benefit gratuity

plan is a final salary plan for employees. Gratuity is paid from Company as and when it becomes due and is paid

as per Company scheme for Gratuity.

Risks associated with defined benefit plan: Gratuity is a defined benefit plan and entity is exposed to the

following Risks

a. Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future
salaries of members. As such, an increase in the salary of the members more than assumed level will
increase the plan''s liability.

b. Interest rate risk: A fall in the discount rate which is linked to the Government Securities Rate will increase
the present value of the liability requiring higher provision.

c. Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Entity has to manage
pay-out based on pay as you go basis from own funds.

d. Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age
only, plan does not have any longevity risk.

Characteristics of defined benefit plans:

a. During the year, there were no plan amendments, curtailments and settlements.

b. Gratuity plan is unfunded.

Note 31: There are no dues to Micro and Small Enterprises as at March 31, 2025. 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 based on information available with the Company.

Note 32: Segment Reporting: - The Company is primarily engaged in the business of “trading in commodity,
share & broking “ which constitute a single reporting segment to the Executive Management Committee which
monitor the operating results from these activities for the purpose of resources allocation & performance
assessment. In the opinion of the Management, the Company is operating in a single segment only as per the
provisions of the Ind AS-108 as specified under section 133 of the Companies Act, 2013.

Note 33: Corporate Social Responsibility: - Provisions of Section 135 of the Companies Act, 2013 of Corporate
Social Responsibility are applicable to the company; according company is mandatorily required to spend on
corporate social responsibility (CSR) activities. On account of losses incurred in the earlier years, the Company
is not required to contribute towards Corporate Social Responsibility (CSR) as per section 135 of the Companies
Act, 2013.

Note 34: Related Parties Disclosure and transaction entered with them with closing balances at the year-end.

Note 36: Deferred Tax: -

In accordance with Ind AS -12 relating to "Accounting for Income Taxes, the Company has recognized a net
deferred tax liability of '' 439.02 lakhs for the year ended on March 31, 2025 (Previous Year '' 484.43 lakhs)

Note 37: Utilisation of Borrowed Funds and share premium: -

The Company has not received any funds from any person or entity including foreign entity (Funding Parties)
with the understanding whether in writing or otherwise, that the Company shall:

- directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate
Beneficiaries") by or on behalf of the Funding Party or

- provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries.

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

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

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

Note 38: Undisclosed Income: - There have been no transactions which have not been recorded in the books of
accounts, that have been surrendered or disclosed as income during the year ended March 31, 2025 and March
31, 2024, in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded
income and related assets which were to be properly recorded in the books of account during the year ended
March 31, 2025.

Note 39: Utilisation of borrowings availed from banks and financial institutions: - The borrowing obtained by
the company from bank & financial institution has been applied for the purposes for which such loans were was
taken.

Note 40: Disclosure relating to Benami Property held: - No proceedings have been initiated on or are pending
against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of
1988) and Rules made thereunder.

Note 41: Wilful Defaulter: - The Company has not been declared wilful defaulter by any bank or financial
institutions or government or any government authority.

Note 42: Compliance with number of layers of Companies: - The Company has complied with the number of
layers prescribed under the Companies Act, 2013.

Note 43: Details of Crypto Currency or Virtual Currency: - The Company has not traded or invested in crypto
currency or virtual currency during the current or previous year.

Note 44: Relationship with Struck off Companies: - The Company has not entered in any transactions with
companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

Note 45: Amounts required to be transferred to the Investor Education and Protection Fund by the Company for
the FY 2016-2017 of '' 0.75 Lakh has been transferred.

Note 46: The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the
proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment
Rules 2021 requiring companies, which uses accounting software for maintaining its books of accounts, shall
use only such accounting software which has a feature of recording audit trail of each and every transaction,
creating an edit log of each change made in the books of accounts along with the date when such changes
were made and ensuring that the audit trail cannot be disabled. The Company uses accounting software (tally
editlog) for maintaining its books of account which has a feature of recording audit trail (edit log) facility and
the same has operated throughout the year for all relevant transactions recorded in the accounting software.

Note 48: The Previous year''s figures have been regrouped / rearranged / reclassified wherever necessary to
make them comparable. Amounts and other disclosures for the preceding financial year are included as an
integral part of current year''s financial statements.

As per our report attached

For Ankush Gupta & Associates Sd/- Sd/-

Chartered Accountants Rajeev Pathak Ankur Agrawal

ICAI-FRN : 149227W Whole-time Director & CFO Director

DIN : 08497094 DIN : 06408167

Sd/- Sd/ Sd/

Ankush Gupta Nidhi Grover Apeksha Kadam

Proprietor Company Secretary Director

M. No. 120478 DIN : 08878724

Mumbai, May 6, 2025

---

Mar 31, 2024

15. Provisions, Contingent Liabilities and Contingent Assets

a) Provisions

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

b) Contingent Liabilities:

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. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

c) Contingent Assets:

Contingent assets are not recognized in the financial statement. However, contingent assets are assessed continuously and if it is virtually certain that an economic benefit will arise, the asset and related income are recognized in the period in which the change occurs.

Note 2- Key Accounting Judgment, Use of Estimates & Assumptions:

In the application of the Company’s accounting policies, which are described in note (e) above and preparing these financial statements, the management of the Company are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Note 31: Employee Retirement Benefits:

To comply with the requirement of Ind AS 19 Employee Benefits company has changed its accounting policy with respect to Defined Benefit Plan in the nature of Gratuity and has obtained the Actuarial Valuation report from Actuary. In accordance with Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, the effect of the change has been given retrospectively in all the period presented. The details of effects on account of change in policy in the previously reported period is as follow:

The Company has a defined benefit gratuity plan in India (unfunded). The Company’s defined benefit gratuity plan is a final salary plan for employees. Gratuity is paid from Company as and when it becomes due and is paid as per Company scheme for Gratuity.

Risks associated with defined benefit plan: Gratuity is a defined benefit plan and entity is exposed to the following Risks

a. Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the plan’s liability.

b. Interest rate risk: A fall in the discount rate which is linked to the Government Securities Rate will increase the present value of the liability requiring higher provision.

c. Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Entity has to manage payout based on pay as you go basis from own funds.

d. Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.

Characteristics of defined benefit plans:

a. During the year, there were no plan amendments, curtailments and settlements.

b. Gratuity plan is unfunded.

Note 32: There are no dues to Micro and Small Enterprises as at March 31,2024. 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 based on information available with the Company.

Note 33: Segment Reporting: - The Company is primarily engaged in the business of “trading in commodity, share & broking” which constitute a single reporting segment to the Executive Management Committee which monitor the operating results from these activities for the purpose of resources allocation & performance assessment. In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the Ind AS-108 as specified under section 133 of the Companies Act, 2013.

Note 34: Corporate Social Responsibility: - Provisions of Section 135 of the Companies Act, 2013 of Corporate Social Responsibility are applicable to the Company; according Company is mandatorily required to spend on corporate social responsibility (CSR) activities. Company has incurred following expenses on CSR activity during the year.

Note 37: Deferred Tax: -

In accordance with Ind AS -12 relating to “Accounting for Income Taxes, the Company has recognized a net deferred tax liability of '' 4,84,42,538/- for the year ended on March 31,2024 (Previous Year '' Nil/-)

Note 38: Utilisation of Borrowed Funds and share premium: -

The Company has not received any funds from any person or entity including foreign entity (Funding Parties) with the understanding whether in writing or otherwise, that the company shall:

- directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Funding Party or

- provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries.

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

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

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

Note 39: Undisclosed Income: - There have been no transactions which have not been recorded in the books of accounts, that have been surrendered or disclosed as income during the year ended March 31, 2024 and March 31, 2023, in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly recorded in the books of account during the year ended March 31,2024.

Note 40: Utilisation of borrowings availed from banks and financial institutions: - The borrowing obtained by the company from bank & financial institution has been applied for the purposes for which such loans were was taken.

Note 41: Disclosure relating to Benami Property held: - No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

Note 42: Wilful Defaulter: - The Company has not been declared wilful defaulter by any bank or financial institutions or government or any government authority.

Note 43: Compliance with number of layers of Companies: - The Company has complied with the number of layers prescribed under the Companies Act, 2013.

Note 44: Details of Crypto Currency or Virtual Currency: - The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

Note 45: Relationship with Struck off Companies: - The Company has not entered in any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act 1956.

Note 46: The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which uses accounting software for maintaining its books of accounts, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of accounts along with the date when such changes were made and ensuring that the audit trail cannot be disabled. The Company uses accounting software (tally editlog) for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting software.

Note 48: Amounts required to be transferred to the Investor Education and Protection Fund by the Company for the FY 20152016 of '' 0.39 Lakh has been transferred.

Note 49: The Previous year’s figures have been regrouped / rearranged / reclassified wherever necessary to make them comparable. Amounts and other disclosures for the preceding financial year are included as an integral part of current year’s financial statements.

As per our report of even date

For Ankush Gupta & Associates Sd/- Sd/-

Chartered Accountants Rajeev Pathak Ankur Agrawal

ICAI-FRN : 149227W Whole-time Director & CFO Director

DIN :08497094 DIN :06408167

Ankush Gupta Sd/- Sd/-

Proprietor Jankhana Gala Apeksha Kadam

M. No. 120478 Company Secretary Director

DIN :08878724

Mumbai, May 28, 2024

---

Mar 31, 2015

1. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

2. There are no dues to Micro and Small Enterprises 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.

3. In accordance with Accounting standard 'AS -18' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists:

1. Shyam Trade Link PTE Ltd. – Wholly owned Subsidiary at Singapore

2. Anjali Tradelink FZE – Wholly owned Subsidiary at Hamriyah, Sharjah - UAE

4. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred asset of Rs. 6,905/- as on 31ST March, 2015. (Deferred Tax Liability Previous Year Rs. 61,544/-).

5. Segment Reporting :-

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

6. The Annual Consolidated Financial results have been prepared by consolidating the Company's Audited Annual Accounts for the financial year 2014-2015 with the Annual Accounts for the year ended 31st March, 2015 of its two wholly owned subsidiaries viz. Shyam Trade Link Pte. Ltd., Keypoint, Singapore and Anjali Tradelink FZE, Hamriyah Free Zone, Sharjah, UAE respectively, which has been considered for the first time. In view of this we have not provided consolidated figures for previous financial year, as they are not comparable to current accounting year. The Company has prepared consolidated financial statements as per AS-21

7. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year's financial statements.

---

Mar 31, 2014

(a) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(b) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

2. Contingent Liabilities and Commitments (to the extent not provided for)

Particulars 2013-2014 2012-2013

(A) Contingent Liabilities

(i) Claims against the company not acknowledged as debts - -

(ii) Guarantees 59,75,000 75,00,000

(iii) Other contingent liabilities - -

Total 59,75,000 75,00,000

(B) Commitments N.A N.A

3. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

4. There are no dues to Micro and Small Enterprises 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. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:- Parties where control exists:

1. Shyam Trade Link PTE Ltd. - Wholly owned Subsidiary at Singapore

2. Anjali Tradelink FZE - Wholly owned Subsidiary at Hamriyah, Sharjah - UAE Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel and their enterprises :

Shri Anil Kumar Nevatia (Director)

Shri Bharat Shiroya (Director)

Shri Anil Agrawal (Whole Time Director)

Anil Agrawal -HUF

(HUF of Mr. Anil Agrawal, Director)

Shri Sushil Kasturchand Jain (Director)

b) Relative of Key Managerial Personnel : N.A.

c) Associates : Comfort Securities Limited

d) Subsidiary

: Shyam Trade Link PTE Ltd.

: Anjali Tradelink FZE

6. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred tax liability of Rs. 61,544/- as on 31st March, 2014. (Previous Year 1,11,976/-).

7. Segment Reporting :-

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

8. During the fiscal year 2013-2014, the Company had remitted an amount of 1,000 USD in its wholly owned subsidiary (WOS) incorporated on 31st December, 2013 i.e. Shyam Trade Link PTE Ltd located at Singapore. This remittance was toward subscription of shares in its WOS.

9. During the fiscal year 2013-2014, the Company had remitted an amount of 2,00,000 AED in its wholly owned subsidiary (WOS) incorpor -ated on 28th January, 2014 i.e. Anjali Tradelink FZE located at Hamriyah Free Zone Authority, Sharjah, United Arab Emirates. This remittance was toward subscription of shares in its WOS.

10. The utilisation of IPO proceeds

11. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.

---

Mar 31, 2013

Note 1 - Contingent Liabilities and Commitments (to the extent not provided for)

(Amount in INR)

Particulars As at March 31, 2013 As at March 31, 2012

(A) Contingent Liabilities

(i) Claims against the company not acknowledged as - - debts

(ii) Guarantees 7,500,000 7,500,000

(iii) Other contingent liabilities - -

(A) 7,500,000 7,500,000

(B) Commitments

(i) Estimated amount of contracts remaining to be - - executed on capital account not provided for

(ii) Uncalled liabilities on share and other investments - - partly paid up

(iii) Others commitments - -

(B) - -

TOTAL (A B) 7,500,000 7,500,000

2. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

3. There are no dues to Micro and Small Enterprises 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.

4. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists: Nil

Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel : Shri Anil Kumar Nevatia (Director) and their enterprises Shri Bharat Shiroya (Director)

Shri Anil Agrawal (Whole Time Director)

Anil Agrawal -HUF

(HUF of Mr. Anil Agrawal, Director)

Shri Sushil Kasturchand Jain (Director)

b) Relative of Key Managerial Personnel : N.A.

c) Associates : Comfort Securities Limited

5. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred tax liability of Rs. 1,11,976/- as on 31st March, 2013. (Previous Year 87,824/-).

6. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

7. During the current financial year i.e. FY 2012-13, Company has issued 26,80,000 Equity Shares of face value of Rs. 10/- by way of Bonus Issue making total subscribed, issued and paid up equity share capital to Rs. 4,02,00,000/divided into 40,20,000 equity shares of Rs. 10/- each.

8. During the current financial year i.e. FY 2012-13, Company has issued 60,00,000 Equity Shares of face value of Rs. 10/- at an issue price of Rs. 10/- per Equity Share by way of Initial Public Offer making total subscribed, issued and paid up equity share capital to Rs. 10,02,00,000/- divided into 1,00,20,000 equity shares of Rs. 10/- each.

9. The utilization of IPO proceeds

10. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.