Notes to Accounts of Econo Trade (India) Ltd.

Mar 31, 2024

2.05 Provisions and contingencies

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists and it is probable that an outflow of
resources embodying economic benefits will be required to settle such obligation and the amount of such obligation can be reliably estimated. If the effect of
time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. A disclosure for a contingent liability is made when
there is a possible obligation or a present obligation that may, but probably will not require an outflow of resources embodying economic benefits or the
amount of such obligation cannot be measured reliably. When there is a possible obligation or a present obligation in respect of which likelihood of outflow of
resources embodying economic benefits is remote, no provision or disclosure is made.

2.06 Cash and Cash Equivalents

Cash and cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand deposits with banks where the
original maturity is three months or less and other short term highly liquid investments.

2.07 Employee Benefits
Short-term employee benefits

All employee benefits payable wholly within twelve months of rendering the service are classified as short-term employee benefits and they are recognized in the
period in which the employee renders the related service. The Company recognizes the undiscounted amount of short-term employee benefits expected to be
paid in exchange for services rendered as a liability (accrued expense) after deducting any amount already paid.

2 Significant accounting policies (cont''d)

2.08 Borrowing Cost

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and exchange differences arising
from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs, if any, directly attributable to the
acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized, if
any. All other borrowing costs are expensed in the period in which they occur.

2.09 Events after reporting date

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

2.10 Property, plant & equipment
Measurement at recognition

An item of property, plant and equipment that qualifies as an asset is measured on initial recognition at cost. Following initial recognition, items of property,
plant and equipment are carried at its cost less accumulated depreciation and accumulated impairment losses.

The cost of an item of property, plant and equipment comprises of its purchase price including import duties and other non-refundable purchase taxes or levies,
directly attributable cost of bringing the asset to its working condition for its intended use and the initial estimate of decommissioning, restoration and similar
liabilities, if any. Any trade discounts and rebates are deducted in arriving at the purchase price. Cost includes cost of replacing a part of a plant and equipment if
the recognition criteria are met. Items such as spare parts, stand-by equipment and servicing equipment that meet the definition of property, plant and
equipment are capitalized at cost and depreciated over their useful life. Costs in nature of repairs and maintenance are recognized in the Statement of Profit and
Loss as and when incurred.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted
prospectively, if appropriate.

2 Significant accounting policies (cont''d)

2.10 Property, plant & equipment (cont''d)

Capital work-in-progress and capital advances:

Cost of assets not ready for intended use, as on the balance sheet date, is shown as capital work-in-progress. Advances given towards acquisition of fixed assets
outstanding at each balance sheet date are disclosed as other non-financial assets.

Depreciation

Depreciation on each part of an item of property, plant and equipment is provided using the written down value method based on the useful life of the asset as
prescribed in Schedule II to the Act. Depreciation is calculated on a pro-rata basis from the date of installation till date the assets are sold or disposed.
Leasehold improvements are amortised over the underlying lease term on a straight line basis. Individual assets costing less than INR 5,000 are depreciated in
full in the year of acquisition.

De-recognition

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic benefits are expected from its use or
disposal. The gain or loss arising from the de-recognition of an item of property, plant and equipment is measured as the difference between the net disposal
proceeds and the carrying amount of the item and is recognized in the Statement of Profit and Loss when the item is derecognized.

2.11 Impairment of non—financial assets

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment
testing for an asset is required, the Company estimates the assef s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash¬
generating unif s (CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual asset, unless the asset does not
generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its
recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing the value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken
into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples,
quoted share prices for publicly traded companies or other available fair value indicators.

For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognised impairment
losses no longer exist or have decreased. If such indication exists, the Company estimates the assef s or CGU’s recoverable amount. A previously recognised
impairment loss is reversed only if there has been a change in the assumptions used to determine the assef s recoverable amount since the last impairment loss
was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that
would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the
statement of profit or loss unless the asset is carried at a revalued amount, in which case, the reversal is treated as a revaluation increase.

2.12 Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the
weighted-average number of equity shares outstanding during the period. The weighted-average number of equity shares outstanding during the period is
adjusted for events including a bonus issue.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted-average
number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

24 Financial risk management

The Company is a Non - Banking Financial Company - Non Deposit taking - Non - Systemically Important (NBFC - ND - NSI) registered with the Reserve Bank of
India. On account of it’s business activities it is exposed to various financial risks associated with financials products such as credit or default risk, market risk, interest
rate risk, liquidity risk and inflationary risk. However, the Company has a robust financial risk management system in place to identify, evaluate, manage and mitigate
various risks associated with its financial products to ensure that desired financial objectives are met. The Company’s senior management is responsible for establishing
and monitoring the risk management framework within its overall risk management objectives and strategies, as approved by the Board of Directors. Such risk
management strategies and objectives are established to identify and analyse potential risks faced by the Company, set and monitor appropriate risk limits and controls,
periodically review the changes in market conditions and assess risk management performance. Any change in Company’s risk management objectives and policies needs
prior approval of it’s Board of Directors.

(a) Credit risk

This risk is common to all investors who invest in bonds and debt instruments and it refers to a situation where a particular bond issuer is unable to make the expected
principal payments, interest rate payments, or both. Similarly, a lender bears the risk that the borrower may default in the payment of contractual interest or principal on
its debt obligations, or both. The entity continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk
controls.

(b) Market risk:

Market risk is a form of systematic risk associated with the day-to-day fluctuation in the market prices of shares and securities and such market risk affects all securities
and investors in the same manner. These daily price fluctuations follows its own broad trends and cycles and are more news and transaction driven rather than
fundamentals and many a times, it may affect the returns from an investment. Market risks majorly comprises of two types - interest rate risk and other price risk, such
as equity price risk and commodity risk. Financial instruments affected by market risks include borrowings and investments.

(c) Liquidity risk:

Liquidity refers to the readiness of the Company to sell and realise its financial assets. Liquidity risk is one of the most critical risk factors for Companies which is into
the business of investments in shares and securities. It is the risk of not being able to realise the true price of a financial asset, or is not being able to sell the financial
asset at all because of non-availability of buyers. Unwillingness to lend or restricted lending by Banks and Financial Institutions may also lead to liquidity concerns for
the entities.

The Company maintains a well-diversified portfolio of investments in shares and securities which are saleable at any given point of time. A dedicated team of market
experts are monitoring the markets on a continuous basis, which advises the management for timely purchase or sale of securities. The Company is currently having a
mix of both short-term and long-term investments. The management ensures to manage it’s cash flows and asset liability patterns to ensure that the financial obligations
are satisfied in timely manner.

(d) Inflationary risk:

Inflationary or purchasing power risk refers to the variation in investor returns caused by inflation. It is the risk that results in increase of the prices of goods and
services which results in decrease of purchasing power of money, and likely negatively impact the value of investments. The two important sources of inflation are rising
costs of production and excess demand for goods and services in relation to their supply. Inflation and interest rate risks are closely related as interest rates generally go
up with inflation.

The Company closely monitors the inflation data and analyses the reasons for wide fluctuations thereof and its effect on various sectors and businesses. The main
objective is to avoid inflationary risk and accordingly invest in securities and debt instruments that provides higher returns as compared to the inflation in long-term.

25 Capital management

For the purpose of Company’s capital management, capital includes issued equity share capital, other equity reserves and borrowed capital less cash and cash equivalents.
The primary objective of capital management is to maintain an efficient capital structure to reduce the cost of capital, support corporate expansion strategies and to
maximize shareholder’s value.

The entity 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 entity may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The entity monitors capital
using a gearing ratio, which is net debt divided by total capital plus net debt. The entity’s policy is to keep an optimum gearing ratio. The entity includes within net debt,
interest bearing loans and borrowings less cash and cash equivalents.

30 The disclosure on the following matters required under Schedule III as amended not being relevant or applicable in case of the Company:

a) The Company has not traded or invested in crypto currency or virtual currency during the financial year

b) The Company is not holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority

d) The Company has not entered into any scheme of arrangement.

e) No satisfaction of charges are pending to be filed with ROC.

f) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961.

31 The financial statements are approved for issue by the Board of Directors in its meeting held on 29th May 2024.

For H S K & CO LLP For and on behalf of the Board of Directors

Chartered Accountants

Firm’s Reg. No. : 117014W/W100685

Sudhir S, Shah Shekh Hasina Kasambhai Irfan Ahmedbhai Belim

Partner Director Director

Membership No. 115947 (DIN: 07733184) (DIN: 08010290)

Place: Ahmedabad Place: Kolkata Place: Kolkata

Date: 29 May 2024

Anny Sachdev Shankarlal Siddharth Sharma

Chief Financial Officer Company Secretary

Place: Kolkata Place: Kolkata

Date: 29 May 2024

---

Mar 31, 2015

1. Terms/Rights Attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share and ranks pari passu.

2. Contingent Liabilities:- Nil

3. Earning in Foreign Exchange:- Nil

4. Expenditure in Foreign Exchange:- Nil

5. NO Provison has been made on accout of leave salary to the credit of employees at the end of the year

6. No provion has been made on account of fall in the market value of quoted Investment held long term as the fall is considered to be temporary in nature as.

7. The Figures of previous Year have been regrouped and/or re arranged whereever necessary

30. The company Is engaged in Business of Non Banking Financial Companies and there is no Separate reportable segment as per Accounting Standard-17 Segment Reporting" Notified by the Companies Accounting Standard Rule, 2006

31. Particulars required to be furnished as per the paragraph 13 of Non Banking Financial (Non Deposit Accepting or Holding ) Companies Prudential norms (Reserve bank) Directions, 2007 issued by the RBI are given as per Annexure Attached Hereto

---

Mar 31, 2014

1. Previous year figures has been re-arranged or re-cast wherever necessary, however the same are not strictly comparable with that of the current year as the previous year.

2. The Company operates solely in one Geographic Segment only and hence no separate information for Geographic Segment wise disclosure is required.

3. There are no related party transaction during the year.

NOTE :-4 Contingent Liabilities

income Tax Demand Under Appeal- Rs. 7,17,540 ( 2009-2010). The Management believes that the Company has a good case for Success in the matter and therefore no provisions thereagainst is considered necessary.

---

Mar 31, 2012

1. Previous year figures has been re-arranged or re-cast wherever necessary, however the same are not strictly comparable with that of the current year as the previous year.

---

Mar 31, 2011

1. In consistency with the accounting policies followed, the company has valued its inventories comprising of quoted equity shares and other securities at cost against lower of costs or market/break-up/nave/fair value as required by the Accounting Standard issued by the Institute of Chartered Accountants of India and Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

The value of quoted equity shares held as stock-in-trade by the company as on 31st March, 2011 is at cost and not an cost or market value whichever is lower basis(As per Accounting Standard 13). Had the stock-in-trade beer accounted for in the books of account at lower of cost or market price the profit for the year would have been lower by Rs.26,657.50 and the stock-in-trade would have been lower to that extent. In respect of unquoted equity shares held as stock-in-trade as at 31st March, 2011, the cost has been considered for the purpose of valuation of stock-in-trade as at 31st March, 2011.

2. The Company has adopted Accounting Standard-22 Accounting for Taxes on Income issued by the Institute of Chartered Accountants of India. There remains a deferred tax liabilities. The major component of deferred tax liabilities arising out of timing difference as on 31^s* March, 2011 is on account of depreciation on Fixed Assets.

3. As required in terms of paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 issued by Reserve Bank of India, we enclose in the annexure the required -‘Schedule to the Balance Sheet of a Non Banking Financial Company.’

4. Key Management Personnel - a,) Mr.Pradeep Kumaer Agarwal (Director)

b.)Mr.Sujay Rakshit (Director)

c.) Mr. Om Prakash Lohia (Director)

5. a. Number of employees entitled to emolument aggregating to Rs.60,00,000/- per annum or more - NIL (Previous year - NIL).

b. Number of employees who are entitled to remuneration of Rs.5,00,000/- per month or who are employed for the part of the year - NIL (Previous year -NIL).

6. Value of C.I.F. Basis, expenditure in foreign currency, remittance in foreign currency, earnings in foreign exchange - NIL

7. Previous year figures has been re-arranged or re-cast wherever consider necessary.

8. A scheme of Amalgamation between Amrapali Nirman Ltd and Balaji Buildcom Ltd (hereinafter written as all transferor companies) and the Company was approved by the shareholders in the Court convened meeting held on 4 day ot January, and subsequently sanctioned by the hon’ble High Court of Calcutta on 28^th of April 2010. All the assets, properties and liabilities of all the transferor companies have been transferred and stand amalgamated with the Company with effect from the 1^st day of April, 2010 (the transfer date) against the total consideration of Rs. 140,27°,750/- for the above two companies. The company has to issue 14027075 equity shares of Rs. 10/- each to the shareholders of the erstwhile amalgamating company in the ratio as per order of Hon’ble High Court Calcutta and the same pending allotment of shares have been reflected as share capital suspense in the Balance Sheet Steps has been taken to change name of all the assets and liabilities of the erstwhile transferor companies in to the name of Company (Transferee Company).