Notes to Accounts of Comfort Intech Ltd.

Mar 31, 2025

Q. Contingent Liability and Contingent Assets

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the
occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a
present obligation that is not recognized because it is not probable that an outflow of resources will be required to
settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot
be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but
discloses its existence in the financial statements.

R. Fair Value Measurement

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

Fair value is the price that would be received against sale of an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is based on the
presumption that the transaction to sell the asset or transfer the liability takes place in the accessible principal
market or the most advantageous accessible market as applicable.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy into Level I, Level II and Level III based on the lowest level input that is significant to the
fair value measurement as a whole. For detailed information on the fair value hierarchy, refer note no. 29 and 30

For assets and liabilities that are fair valued in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the
lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis
of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.

i The fair value of the Company''s investment properties at the end of the year has been determined by the
management based on available information, including transacted prices near the end of the year in the location
and category of the properties being valued. During the year, the Company had carried out valuation of certain
investment properties for various other purposes, and the management has relied on these valuations, along
with market data, in estimating the fair value at year-end. The fair value measurement for all of the investment
properties has been categorised as a Level 2 fair value measurement. Total fair value of investment properties is
'' 2,401.55 Lakhs (Last year the company was in the process of ascertining the fair value of the properties).

ii During the year, the Company carried out a review of the recoverable amount of investment properties. As a result,
there were no allowances for impairment required for these properties. Out of the Investment Property, property
having carrying value of '' 355.55 lakhs (Fair Value '' 718.80 lakhs) has been mortgaged to bank for loans availed by
the company and property having carrying value of '' 398.67 lakhs (Fair Value '' 413.00 lakhs) has been mortgaged
to bank for guarantee facility availed by the associate company.

NOTE 29- FAIR VALUE

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

In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation
techniques.

This note describes the fair value measurement of both financial and non-financial instruments.

Valuation Framework

The Group has an internal fair value assessment team which assesses the fair values for assets qualifying for fair
valuation.

The Group''s valuation framework includes:

Benchmarking prices against observable market prices or other independent sources;

Development and validation of fair valuation models using model logic, inputs, outputs and adjustments.

These valuation models are subject to a process of due diligence and validation before they become operational and
are continuously calibrated. These models are subject to approvals by various functions including risk, treasury and
finance functions. Finance function is responsible for establishing procedures, governing valuation and ensuring fair
values are in compliance with accounting standards.

Valuation Framework

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

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

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

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

NOTE 30- FAIR VALUE HIERARCHY

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

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

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

Level 3: valuation technique with significant unobservable inputs: - financial instruments valued using valuation
techniques where one or more significant inputs are unobservable.

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.

38. FINANCIAL RISK MANAGEMENT

The Company''s business activities are exposed to a variety of financial risks, namely liquidity risk, market risks
and credit risk. The Company''s senior management has the overall responsibility for establishing and governing
the Company''s risk management framework. The Company has constituted a core Management Committee,
which is responsible for developing and monitoring the Company''s risk management policies. The Company''s risk
management policies are established to identify and analyse the risks faced by the Company, to set and monitor
appropriate risk limits and controls, periodically review the changes in market conditions and reflect the changes
in the policy accordingly. The key risks and mitigating actions are also placed before the Audit Committee of the
Company.

A. 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 risk: interest rate risk, currency risk and other
price risk. Financial instruments affected by market risk include loans and borrowings and deposits.

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. This risk exists mainly on account of borrowings of the Company. However,
all these borrowings are at fixed interest rate and hence the exposure to change in interest rate is insignificant.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
changes in foreign exchange rates. The Company is not exposed to significant foreign currency risk as at the
respective reporting dates.

Price Risk

The Company is mainly exposed to the price risk due to its investment in debt mutual funds. The price risk
arises due to uncertainties about the future market values of these investments.

B. Credit Risk: Credit risk is the risk that counterparty will not meet its obligations under a financial instrument
or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating
activities (primarily trade receivables) and other financial assets.

Trade Receivables: Customer credit risk is managed by each business unit subject to the Company''s
established policy, procedures and control relating to customer credit risk management. An impairment
analysis is performed at each reporting date on an individual basis for major trade receivables.

Other Financial Assets: Credit risk from balances with banks and financial institutions is managed by the
Company in accordance with the Company''s policy. Investments of surplus funds are made only in highly
marketable debt instruments with appropriate maturities to optimise the cash return on instruments while
ensuring sufficient liquidity to meet its liabilities.

C. Excessive risk concentration: Concentrations arise when a number of counterparties are engaged in similar
business activities, or activities in the same geographical region, or have economic features that would cause
their ability to meet contractual obligations to be similarly affected by changes in economic, political or other
conditions. Concentrations indicate the relative sensitivity of the Company''s performance to developments
affecting a particular industry.

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

D. Liquidity risk: Prudent liquidity risk management implies maintaining sufficient cash and marketable securities
and the availability of funding through an adequate amount of internal financing by way of daily cash flow
projection to meet obligations when due and to close out market positions. Due to the dynamic nature of the

underlying businesses, company treasury maintains flexibility in funding by maintaining availability of funds.
Management monitors daily and monthly rolling forecasts of the Company''s liquidity position and cash and
cash equivalents on the basis of expected cash flows. This is generally carried in accordance with standard
guidelines. The Company has liquidity reserves in the form of highly liquid assets like cash and cash equivalents,
debt based mutual funds, deposit accounts, etc.

39. Capital management: The primary objective of the Company''s capital management is to maximise the shareholder''s
wealth. The Company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market
confidence and to sustain future development of the business. The Board of Directors monitor the return on capital
employed as well as the level of dividend to shareholders. The Company manages its capital structure and makes
adjustments in light of changes in economic conditions and the requirements of the financial covenants. To
maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return
capital to shareholders or issue new shares. The Company monitors capital using a debt equity ratio, which is total
debt divided by total equity.

42. Corporate Social Responsibility: - As per Section 135 of Companies Act, 2013 a company meeting the applicability
threshold, needs to spend at-least 2% of its average net profit of the immediately preceding three financial years on
Corporate Social Responsibility (CSR) activities. The CSR initiatives are focused towards that programme directly or
indirectly, benefit the community and society at large. The Company''s CSR activity primarily focuses on programs
that promote education, gender equality empowering women and development of rural areas.

43. The disclosure on the following matters required under Schedule III as amended not being relevant or applicable
in case of the Company, same are not covered such as

a. Title Deeds of Immovable Property not held in name of Company: Company is having the registered sales
deeds of immovable property, however

i. With respect to one flat in located at Ballaleshwar Co-op. Hsg. Soc. Ltd., Dr. Babasaheb Ambedkar Road, Lal
Baug, Mumbai having carrying value of '' 101.52 Lakhs, classified as Investment Properties in the financial
statements, the Company has received approval from MHADA however, name transfer in the society
records is pending.

ii. With respect to Land at Hyderabad satisfaction of having carrying value of '' 269.96 Lakhs, classified
as Investment Properties in the financial statements, during mutation, co-owners of the said property
opposed and has got stay on the transfer. The Company has filed a suit against the stay and order from
the court is awaited.

b. Disclosure on Revaluation of Assets: The Company has not revalued its property, plant and equipment or
intangible assets or both during the current or previous year.

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

d. Borrowings against current assets: The returns or statements submitted by the Company to lenders are in
agreement with books of accounts which includes Sales amounts inclusive of GST value. There are no material
discrepancies observed in returns or statements submitted by the Company to lenders.

e. Willful defaulter: The Company have not been declared willful defaulter by any bank or financial institution or
government or any government authority.

f. Relationship with struck off companies: The Company has no transactions with the companies struck off under
Companies Act, 2013 or Companies Act, 1956.

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

h. Compliance with number of layers of companies: The Company has complied with the number of layers
prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on
number of Layers) Rules, 2017.

i. Utilisation of borrowed funds and share premium: The Company has not received securities premium through
issue of equity and preference shares during the year ended March 31, 2025, and year ended March 31, 2024.
There is no understanding with investors, in writing or otherwise, to lend or invest in other person or entities,
directly or indirectly or provide any guarantee, security or the like to or on behalf of the said investors. The
management has absolute discretion on use of such funds. Hence, the additional regulatory disclosure with
respect to the utilisation of borrowed funds and share premium are not included in these financial statements.

j. Compliance with approved scheme of arrangements: The Company has not entered into any scheme of
arrangement which has an accounting impact on current or previous financial year.

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

l. 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.

Notes:

EBITDA - Earnings before interest, taxes, depreciation and amortization
EBIT - Earnings before interest and taxes.

Explanation for variances exceeding 25%:

a. Current Ratio: Ratio has been increased due to repayment of Short-Term Borrowings.

b. Debt equity Ratio/Debt Service Ratio: Ratio has been decreased due to repayment of Short-Term Borrowings.

c. Trade Payable Turnover Ratio: There is an improvement in Ratio due to returns of purchases during the slag period.

45. 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 edit log) 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.

46. The Previous year''s 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.

As per our report of even date For and on Behalf of Board

Sd/- Sd/- Sd/-

For A R Sodha & Co. Ankur Agrawal Apeksha Kadam

Chartered Accountants Director Director

Firm Reg. No.: 110324W DIN : 06408167 DIN : 08878724

Sd/- Sd/- Sd/- Sd/-

Dipesh Sangoi Anil Agrawal Kailash Purohit Rachana Hingar

Partner CFO CEO Company Secretary

Membership No. : 124295
Mumbai, May 20, 2025

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Mar 31, 2024

(b) Rights, preferences and restrictions attached to shares

The Company has only one class of Equity Shares having a par value of '' 1/- per share. Each holder of Equity Share is entitled to one vote per share. 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.

NOTE 29- FAIR VALUE

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

In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques. This note describes the fair value measurement of both financial and non-financial instruments.

Valuation Framework

The Group has an internal fair value assessment team which assesses the fair values for assets qualifying for fair valuation.

The Group''s valuation framework includes:

Benchmarking prices against observable market prices or other independent sources;

Development and validation of fair valuation models using model logic, inputs, outputs and adjustments.

These valuation models are subject to a process of due diligence and validation before they become operational and are continuously calibrated. These models are subject to approvals by various functions including risk, treasury and finance functions. Finance function is responsible for establishing procedures, governing valuation and ensuring fair values are in compliance with accounting standards.

Valuation Framework

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

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

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

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

NOTE 30- FAIR VALUE HIERARCHY

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

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

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

Level 3: valuation technique with significant unobservable inputs: - financial instruments valued using valuation techniques where one or more significant inputs are unobservable.

31. CONTINGENT LIABILITIES & COMMITMENTS:
			('' in Lakhs)
Particulars		2023-2024	2022-2023
i) Contingent Liabilities
a)	Claims against the Company / Disputed Liabilities, not acknowledged as Debt	*22.53	*22.53
b)	Income Tax demand 1 (Appeal/rectification has been filed against the order)	58.14	397.45
c)	Penalty imposed by SEBI for which Appeal has been filed (The total penalty imposed by SEBI vide order dated 21st August, 2020 is '' 1.00 Crores of which '' 10.00 Lakhs (which has been disclosed under the head ''Other non-current assets'') has already been deposited by the Company as per their order dated 1/12/2020 whereby the said order of SEBI has been stayed till the pendency of the appeal filed by the Company, and the matter is subjudice).	100.00	100.00

*The Company has made security deposit of '' 25.13/- (Lakhs) in favour of "The Registar City Civil & Session Court" as per pay order no. 757810 dated 20.01.2017

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.

37. TRADE PAYABLES

i. Trade payables are non-interest bearing and are normally settled as per the payment terms stated in the contract.

ii. Dues to micro, small and medium enterprises 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 (refer note no. 18)

38. FINANCIAL RISK MANAGEMENT

The Company''s business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit risk. The Company''s senior management has the overall responsibility for establishing and governing the Company''s risk management framework. The Company has constituted a core Management Committee, which is responsible for developing and monitoring the Company''s risk management policies. The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set and monitor appropriate risk limits and controls, periodically review the changes in market conditions and reflect the changes in the policy accordingly. The key risks and mitigating actions are also placed before the Audit Committee of the Company.

A. 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 risk: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk include loans and borrowings and deposits.

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. This risk exists mainly on account of borrowings of the Company. However, all these borrowings are at fixed interest rate and hence the exposure to change in interest rate is insignificant.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is not exposed to significant foreign currency risk as at the respective reporting dates.

Price Risk

The Company is mainly exposed to the price risk due to its investment in debt mutual funds. The price risk arises due to uncertainties about the future market values of these investments.

B. Credit Risk: Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and other financial assets.

Trade Receivables: Customer credit risk is managed by each business unit subject to the Company''s established policy, procedures and control relating to customer credit risk management. An impairment analysis is performed at each reporting date on an individual basis for major trade receivables.

Other Financial Assets: Credit risk from balances with banks and financial institutions is managed by the Company in accordance with the Company''s policy. Investments of surplus funds are made only in highly marketable debt instruments with appropriate maturities to optimise the cash return on instruments while ensuring sufficient liquidity to meet its liabilities.

C. Excessive risk concentration: Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company''s performance to developments affecting a particular industry.

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

D. Liquidity risk: Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of internal financing by way of daily cash flow projection to meet obligations when due and to close out market positions. Due to the dynamic nature of the underlying businesses, company treasury maintains flexibility in funding by maintaining availability of funds. Management monitors daily and monthly rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows. This is generally carried in accordance with standard guidelines. The Company has liquidity reserves in the form of highly liquid assets like cash and cash equivalents, debt based mutual funds, deposit accounts, etc.

39. CAPITAL MANAGEMENT:

The primary objective of the Company''s capital management is to maximise the shareholder''s wealth. The Company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitor the return on capital employed as well as the level of dividend to shareholders. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a debt equity ratio, which is total debt divided by total equity.

In the long run, the Company''s strategy is to continue to maintain the gearing ratio. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the borrowings that define the capital structure requirements. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current or previous financial year.

42. Corporate Social Responsibility :- As per Section 135 of Companies Act, 2013 a company meeting the applicability threshold, needs to spend at-least 2% of its average net profit of the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. The CSR initiatives are focused towards that programme directly or indirectly, benefit the community and society at large. The Company''s CSR activity primarily focuses on programs that promote education, gender equality empowering women and development of rural areas.

43. The disclosure on the following matters required under Schedule III as amended not being relevant or applicable in case of the Company, same are not covered such as

a. Title Deeds of Immovable Property not held in name of Company: Company is having the registered sales deeds of immovable property, however

i. With respect to one shop located at Ballaleshwar Co-op. Hsg. Soc. Ltd., Dr. Babasaheb Ambedkar Road, Lal Baug, Mumbai having carrying value of ''101.52 Lakhs, classified as Investment Properties in the financial statements, the Company has further applied to MHADA to transfer the property in the Company''s name. Approval from MHADA is awaited.

ii. With respect to Land at Hyderabad satisfaction of having carrying value of ''269.96 Lakhs, classified as Investment Properties in the financial statements, during mutation, co-owners of the said property opposed and has got stay on the transfer. The Company has filed a suit against the stay and order from the court is awaited.

b. Disclosure on Revaluation of Assets: The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

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

d. Borrowings against current assets: The returns or statements submitted by the company to lenders are in agreement with books of accounts which includes Sales amounts inclusive of GST value. There are no material discrepancies observed in returns or statements submitted by the company to lenders.

e. Willful defaulter: The Company have not been declared willful defaulter by any bank or financial institution or government or any government authority.

f. Relationship with struck off companies : The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,1956.

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

h. Compliance with number of layers of companies: The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

i. Utilisation of borrowed funds and share premium: The Company has not received securities premium through issue of equity and preference shares during the year ended March 31, 2024, and year ended March 31, 2023. There is no understanding with investors, in writing or otherwise, to lend or invest in other person or entities, directly or indirectly or provide any guarantee, security or the like to or on behalf of the said investors. The management has absolute discretion on use of such funds. Hence, the additional regulatory disclosure with respect to the utilisation of borrowed funds and share premium are not included in these financial statements.

j. Compliance with approved scheme of arrangements: The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

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

l. 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.

EBITDA- Earnings before interest, taxes, depreciation and amortization EBIT- Earnings before interest and taxes.

Explanation for variances exceeding 25%:

a. Debt Equity Ratio & Debt Service Coverage Ratio- Ratio has been increased due additional utilization of funds in term of Term Loan Facility commensurate with the increase in business.

b. Trade Receivables / trade payable turnover Ratio: Ratio is decreased due to increase in trading business in last quarter.

45 The Company, during the quarter ended March 31, 2024 had subscribed to the Right issue of Equity shares of Liquors India Limited ("LIL") and the company had been allotted 43,78,950 Equity Shares. In aggregate Company is holding 85,78,950 Equity Shares representing 65.30% holding in LIL and as a result LIL has become Subsidiary of the Company. The difference between consideration paid and balance of Non-Controlling interest has been accounted in Equity in consolidated financial statements of the company.

The Purchase consideration paid has been allocated in accordance with the IND AS 103 "Business Combinations" on the basis of fair value of the acquired assets and liabilities. Accordingly, in Consolidated Balance Sheet the group has recognised amount of Rs 564.91 Lakhs as Bargain Purchase price.

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.

47 The Previous year''s 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.

1

In addition to the above there is a demand of '' 23.45/- (Lakhs) for AY 2016-17 u/s 115O in respect of DDT for which company had already discharge the DDT liability and filed the online response and raised the grievance for rectification of same.

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Mar 31, 2023

Rights, preferences and restrictions attached to shares

The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote per share. 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 Loans are primarily backed by stocks, book debts, and fixed deposits, with additional collateral provided by the Company''s and its associate''s properties. The arrangement is further strengthened by personal guarantees from the promoter and director, as well as corporate guarantees from the Company and its associate. The interest rate for this facility varies between FD 1% and 8.6%.’’

NOTE 28- FAIR VALUE

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

In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques.

This note describes the fair value measurement of both financial and non-financial instruments.

Valuation Framework

The Group has an internal fair value assessment team which assesses the fair values for assets qualifying for fair valuation. The Group''s valuation framework includes:

Benchmarking prices against observable market prices or other independent sources;

Development and validation of fair valuation models using model logic, inputs, outputs and adjustments.

These valuation models are subject to a process of due diligence and validation before they become operational and are continuously calibrated. These models are subject to approvals by various functions including risk, treasury and finance

functions. Finance function is responsible for establishing procedures, governing valuation and ensuring fair values are in compliance with accounting standards.

Valuation Framework

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

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

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

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

NOTE 29- FAIR VALUE HIERARCHY

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

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

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

Level 3: valuation technique with significant unobservable inputs: - financial instruments valued using valuation techniques where one or more significant inputs are unobservable.

Quantitative disclosures of fair value measurement hierarchy for assets as at 31 March 2023

*The Company has made security deposit of Rs. 25,12,500/- in favour of “The Registar City Civil & Session Court" as per pay order no. 757810 dated 20.01.2017

**In addition to the above:

a. There is a demand of Rs. 3,21,460 for AY 2016-17 pertaining to TDS Credit claimed which is not yet paid by the parties who had deducted the TDS. The Company is in the process of filing the rectification and is following up with the respective parties and is confident that the amount will be paid by them and the said demand will be reversed.

b. There is a demand of Rs.23,98,541 for AY 2018-19 for which company had filed rectification u/s 154 of the Income Tax Act, 1961 and the same is under process with the Officer.

36. There are no dues to Micro and Small Enterprises as at 31^st March, 2023. 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.

37. Corporate Social Responsibility : - As per Section 135 of Companies Act, 2013 a company meeting the applicability threshold, needs to spend at-least 2% of its average net profit of the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. The CSR initiatives are focused towards that programme directly or indirectly, benefit the community and society at large. The Company''s CSR activity primarily focuses on programs that promote education, gender equality empowering women and development of rural areas.

40. THE DISCLOSURE ON THE FOLLOWING MATTERS REQUIRED UNDER SCHEDULE III AS AMENDED NOT BEING RELEvANT OR AppLICABLE IN CASE Of The COMpANY, Same ARE NOT COvERED SuCH AS

a. Title Deeds of Immovable Property not held in name of Company: Company is having the registered sales deeds of immovable property, however

i. With respect to one shop located at Ballaleshwar Co-op. Hsg. Soc. Ltd., Dr. Babasaheb Ambedkar Road, Lal Baug, Mumbai having carrying value of Rs.101.52 Lakhs, classified as Investment Properties in the financial statements, the Company has further applied to MHADA to transfer the property in the Company''s name. Approval from MHADA is awaited.

ii. With respect to Land at Hyderabad satisfaction of having carrying value of Rs. 269.96 Lakhs, classified as Investment Properties in the financial statements, during mutation, co-owners of the said property opposed and has got stay on the transfer. The Company has filed a suit against the stay and order from the court is awaited.

b. Disclosure on Revaluation of Assets: The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

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

d. Borrowings against current assets: The returns or statements submitted by the company to lenders are in agreement with books of accounts which includes Sales amounts inclusive of GST value. There are no material discrepancies observed in returns or statements submitted by the company to lenders.

e. Willful defaulter: The Company have not been declared willful defaulter by any bank or financial institution or government or any government authority.

f. Relationship with struck off companies : The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,1956.

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

h. Compliance with number of layers of companies: The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

i. Utilisation of borrowed funds and share premium: The Company has not received securities premium through issue of equity and preference shares during the year ended March 31, 2023, and year ended March 31, 2022. There is no understanding with investors, in writing or otherwise, to lend or invest in other person or entities, directly or indirectly or provide any guarantee, security or the like to or on behalf of the said investors. The management has absolute discretion on use of such funds. Hence, the additional regulatory disclosure with respect to the utilisation of borrowed funds and share premium are not included in these financial statements.

j. Compliance with approved scheme of arrangements: The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

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

l. 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.

Explanation for variances exceeding 25%:

a. Debt Equity Ratio - Debt Equity ratio has been increased due higher utilization of Cash Credit Facility commensurate with the increase in business.

b. Debt Service Coverage Ratio - Ratio has been increased due higher utilization of Cash Credit Facility commensurate with the increase in business.

c. Inventory turnover Ratio - Inventory turnover Ratio has been increased due lower stock of liquor segment at year end as license quota was already consumed.

d. Net Capital turnover Ratio - Net Capital turnover Ratio has been increased due increase in Trading business activity.

42. The Previous year''s 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.

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Mar 31, 2015

Note 1 - Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

2. Contingent liabilities & Commitments:

Particulars 2014-2015 2013-2014 (Rs.) (Rs.)

Claims against the Company / Disputed Liabilities, not acknowl- 5 5 edged as Debt

3 Profit / loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

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

5. 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.

6. The company had bought back the capital investment made in its wholly owned subsidiary i.e. 1,00,000 AED and the amount is still lying in the Axis Bank Nostro Account.

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.

8. 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.

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Mar 31, 2014

Note 1 - Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

2. Contingent liabilities & Commitments:

Particulars 2013-2014 2012-2013 (Rs.) (Rs.)

Claims against the Company / Disputed Liabilities, not acknowledged as Debt 22,52,550 22,52,550

3. Profit / loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

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

5. 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.

6. During the fiscal year 2013-2014, the Company had sold shares of its subsidiary company i.e. Luharuka Tradelink Pvt. Ltd. And hence Luharuka Tradelink Pvt. Ltd. is no longer the subsidiary of our company.

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.

8. 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.

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Mar 31, 2013

1. Profit/ loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

2. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:-

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, 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.

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 : Finsolution Services FZE - Wholly Owned Subsidiary

Luharuka Tradelink Pvt. Ltd. - Subsidiary

Parties with whom transaction have taken place.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel : Shri. Bharat Shiroya (Executive Director) and their enterprises Smt. Annu Agrawal (Director).

Shri Anil Agrawal (Managing Director)

Anil Agrawal -HUF

(HUF of Mr. Anil Agrawal, Managing Director)

Shri Jugal Thacker (Independent Director)

Shri Janak Mehta (Independent Director)

Shri Anand Agarwal (Independent Director)

b) Relative of Key Managerial Personnel : M/s Luharuka Travels & M/s Luharuka Enterprises (Proprietorship

concerns of Mr. Pradeep Agrawal, brother of Managing Director i.e. Anil Agrawal

c) Associates : Comfort Securities Ltd

Comfort Fincap Ltd.

Comfort Commotrade Ltd.

Comfort Capital Pvt. Ltd.

Luharuka Dealers Pvt. Ltd.

Luharuka Investment & Consultants Pvt. Ltd.

Luharuka Exports Pvt. Ltd.

Lemonade Share & Securities Pvt. Ltd.

Liquors India Ltd.

d) Subsidiary : Luharuka Tradelink Pvt. Ltd.

: Finsolution Services FZE

6. During the fiscal year 2012-2013, the Company had remitted an amount of 1,00,000 AEDin its Wholly Owned Subsidiary (WOS) i.e. Finsolution Services FZE located at RAK Investment Authority, Ras Al Khaimah and United Arab Emirates. This remittance was toward subscription of shares in its WOS.

7. During the fiscal year 2012-2013, the Company had purchased 98% of the total shares of Luharuka Tradelink Pvt. Ltd. and became the Holding Company.

8. Prior Period Expenses

A prior period expense is included under other expenses.

9. The Previous years 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.

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Mar 31, 2012

(a) Terms / Rights attached to Equity Shares.

i) The Company has only one class of Equity Shares having a par value of Rs. 1/- per share. Each holder of Equity Share is entitled to one vote per share.

ii) The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the Shareholders in the ensuring Annual General Meeting.

iii) During the year ended 31st March 2012, amount of Dividend recognized as distributions to Equity Shareholders was Rs. 63,98,762/-(31st March, 2011 was Rs. 63,98,762/-).

iv) 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.

Note 1 - Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

Note 2-Previous year figures

The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.

3. Contingent liabilities & Commitments:

Particulars 2011-12 2010-11 (Rs.) (Rs.)

Claims against the Company / Disputed Liabilities, not acknowledged as Debt 22,52,550 22,52,550

Bank Guarantee provided by Union Bank of India on behalf of Company in favor

of Bombay Stock Exchange Limited in lieu of Security Deposit to Bombay Stock Nil 31,99,380 Exchange Limited

4. Profit / loss from F&O and Non Delivery transactions are accounted for on net of brokerage paid.

5. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:-

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

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

8. 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.

A) The accounting policies adopted for segment reporting are in line with the accounting policies used in the preparation of financial statements.

B) Segment Assets includes all operating assets used by the segment and consist primarily of debtors, inventories and fixed assets. Segment liabilities include all operating liabilities and consist primarily of deposits from customers, creditors and statutory liabilities.

9. Rights Issue and Utilization of Proceeds:

During the financial year 2010-11, Company had issued 15,99,69,040 Equity Shares of face value of Rs. 1/- at an issue price of Rs. 4/- per Equity Share by way of Rights Issue making total subscribed, issued and paid up equity share capital to Rs. 31,99,38,080 /- divided into 31,99,38,080 equity shares of Rs. 1/- each.

Utilization of Proceeds of Rights Issue:

The Company had utilized to the tune of Rs. 4413.72 lacs during the fiscal 2011 and balance has been utilized in the fiscal 2012. The statement of projected utilization of the Rights Issue proceeds as per Letter of Offer dated 27th May 2010 against actual utilization as on 31st March, 2011 and as of 31st March 2012 is as follows:

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

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Mar 31, 2011

1. Contingent liability not provided for;

- Claims against the Company / Disputed Liabilities, not acknowledged as Debt: Rs. 22.53 Lacs (Previous Year: Nil)

- Bank Guarantee provided by Union Bank of India on behalf of Company in favor of Bombay Stock Exchange Limited in lieu of Security Deposit to Bombay Stock Exchange Limited : Rs. 31.99 Lacs (Previous Year: Nil)

2. The company has started its operation in computer software in the preceding fiscal i.e. F.Y. 2009-10.

3. Profit / loss from F&O and Non Delivery transactions are accounted for on net of brokerage paid.

4. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:

a. Rs. 5,81,91,847/- secured against Immovable Property.

b. Rs 24,58,21,203/- secured against Shares.

5. Foreign Currency Transactions:

Outgo in foreign currency: Traveling Expenses: Rs. 1,49,965/- (Previous Year: Purchase of BUGGY Rs 493216/- & Traveling Exp. Rs 14550/-)

Earning in Foreign Currency: Export Proceeds -STPI Unit Rs. 12,635,892/- (Previous year Rs. 5,549,362-)

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

7. There are no dues to Micro and Small Enterprises as at 31s1 March, 2011. 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.

8. In accordance with Accounting standard AS -1 8relating 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 and their enterprises Shri. Bharat Shiroya (Executive Director)

Smt. Annu Agrawal (Director)

Shri Anil Agrawal (Managing Director)

Anil Agrawal - HUF

(HUF of Mr. Anil Agrawal, Managing Director)

Shri Jugal Thacker (Independent Director)

Shri Janak Mehta (Independent Director)

Shri Anand Agrawal (Independent Director)

b) Relative of Key Managerial Personnel N.A

c) Associates Comfort Securities Ltd.

Comfort Commotrade Pvt. Ltd.

Comfort Capital Pvt. Ltd.

Luharuka Investment & Consultants Pvt. Ltd.

Luharuka Exports Pvt. Ltd.

9. Segment Reporting

A) The accounting policies adopted for segment reporting are in line with the accounting policies used in the preparation of financial statements.

B) Segment Assets includes all operating assets used by the segment and consist primarily of debtors, inventories and fixed assets. Segment liabilities include all operating liabilities and consist primarily of deposits from customers, creditors and statutory liabilities.

10. Rights Issue and Utilization of Proceeds:

During the current financial year i.e FY 2010-11, Company has issued 15,99,69,040 Equity Shares of face value of Re. 1 at an issue price of Rs. 4 per Equity Share by way of Rights Issue making total subscribed, issued and paid up equity share capital to Rs. 31,99,38,080 /- divided into 218,00,35,200 equity shares of Re. 1/- each.

Utilization of Proceeds of Rights Issue:

* Signifies the Payment to Broker against bills as well as for Margin requirements.

The Balance fund has been invested in Fixed Deposits, Shares and Securities and lying in Bank Accounts.

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

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Mar 31, 2010

1. Contingent liability not provided for;

The company has started its operation in computer software from the current year. It has availed the benefit of 100% export oriented unit. In case, the unit is not able to fulfill the export obligation under taken by it for a given specified period of 5 years, it shall pay to the government the amount of custom duty that would be livable at the relevant time on the items of plant & machinery, equipment, raw materials, components & consumables allowed for the import in terms of approval granted. It shall also pay liquidated damages to the government of an amount to be decided by government, (previous year Rsnil).

2. Interest has not been provided in a few loans and advances given by the company, wherever recovery of dues was not certain.

3. Profit / loss from F&O and Non Delivery transactions are accounted for on net of brokerage paid.

4. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:-

a. Rs.3,61,50,214/-secured by charge of Commercial premises.

b. Rs 7,55,40,000/- secured against Shares

c. Rs. 42,64,013/- secured against Residential premises.

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

6. There are no dues to Micro and Small Enterprises as at 31*1 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.

7. In accordance with Accounting standard "AS -18relating 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 and their enterprises

Shri. Bharat Shiroya (Executive Director)

Smt. Annu Agrawal (Director)

Anil Agrawal-HUF

(HUF of Mr. Anil Agrawal, Director)

b) Relative of Key Managerial Personnel:

Luharuka Travels

Luharuka Enterprise

(Proprietorship concern of Pradeep Agrawal,

Brother of Mr. Anil Agrawal, Director)

c) Associates

Comfort Capital Pvt. Ltd.

Comfort Securities Pvt. Ltd.

Comfort Commotrade Pvt. Ltd.

Luharuka Investment & Consultants Pvt. Ltd.

Luharuka Exports Pvt. Ltd.

8. 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. 4,75,500/-as on 31$T March, 2010. (Previous Year4,07,929/-).

9. Segment Reporting

The company has recently started its software and IT related operations in the fiscal 2009-10 and there are two reportable segments namely Non Banking Finance activities and IT related services. The segment reporting for the year ended on 31.03.2010, in the context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is as below:

A) The accounting policies adopted for segment reporting are in line with the accounting policies used in the preparation of financial statements.

B) Segment Assets includes all operating assets used by the segment and consist primarily of debtors, inventories and fixed assets. Segment liabilities include all operating liabilities and consist primarily of deposits from customers, creditors and statutory liabilities.

10. Previous years figures have been regrouped /rearranged wherever necessary.

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Mar 31, 2000

1. As per the opinion received by the management, there will not be any interest tax liability for the accounting year ended 31. 03. 2000.

2. Advances recoverable in cash or in Kind include :

i.) Due from Directors relatives Rs. 7,50,000/- (Previous Year Rs. 7,50,000). Maximum balance outstanding during the year Rs. 7,50,000/- (previous year Rs. 8,09,443/-). Out of the above Rs. 7,50,000/- are interest free advances.

ii.) Due from Companies in which a Director is interested Rs. 7,54,072/- (Previous Year Rs. 11,44,072/-). Maximum balance out- standing during the year Rs. 10,94,072/-. Out of the above Rs. 7,54,072/- are interest free advances.

3. Advances recoverable in cash or in kind includes Rs. 72,73,565/- interest free advances to various parties including advances to staff (Previous year Rs. 1,29,36,676/-).

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

5. Bank Balance includes a sum of Rs. 15,20,038/- which is represented by Cheques in hand as on 31.03.2000. (Previous Year Rs. 12,67,729/-).

6. As per the explanations given by the management , the company does not have any liability towards small Scale Industrial Undertakings.

7. The Company has applied with Reserve Bank of India for Registration as Non- Banking.Finance Company. So far it has not received the Registration Certificate from RBI.

8. The name of the Company was changed from Comfort Fininvest Limited to Comfort Intech Limited during the year for which necessary approvals from Registrar of Companies have been received