Notes to Accounts of Haryana Capfin Ltd.

Mar 31, 2024

1 The title deeds of immovable properties included in property, plant and equipment are held in the name of the Company.

2 The immovable properties included in property, plant and equipment have not been revalued during the year.

3 The Investment properties have not been revalued.

4 The company does not have any intengible assets, hence revaluation is not applicable.

5 During the year the company has not granted any Loan or advance in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person that are:

a. repayable on demand : or

b. without specifying any terms or period of repayment,

6 No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

7 The company does not have any borrowings from banks or financial institutions.

8 The company is not declared wilful defaulter by any bank or financial Institution or other lender.

9 The company has not entered into any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

10 No charges or satisfaction yet to be registered with ROC beyond the statutory period.

11 The company has complied with the number of layers prescribed under clause (87) of section 2 of the act read with companies (Restriction on number of layers) rule 2017.

12 During the year any Scheme of Arrangements has not been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

13 Utilisation of Borrowed funds and share premium:-

A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

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

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

(B) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall

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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

14 The company has not traded or invested in Crypto Currency or Virtual currency during the year.

The accompanying notes are an integral part of the financial statements..

18 GRATUITY

The present value of obligation is determined based on actuarial valuation using the projected unit credit method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

21 SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of the Institute of Chartered Accountants of India. Hence is no separate-wise report to be furnished.

22 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. N-13.02048 dated 15.07.2013 and has been complying with prudential norms as prescribed by RBI for NBFC.

Additional particulars as required under '' Non- Systematically Important Non-Banking Financial (Non-Deposit Accepting or Holding ) Companies Prudential Norms (Reserve Bank) Directions, 2015 are attached , under Separate Annexure - I.

23 Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised -Schedule - III and make them comparable with current year.

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Mar 31, 2023

p) Provisions:

Provisions are recognised in the balance sheet when the Company has a present obligation (legal or constructive) as a result of a past event, which is expected to result in an outflow of resources embodying economic benefits which can be reliably estimated. Each provision is based on the best estimate of the expenditure required to settle the present obligation at the balance sheet date. Where the time value of money is material, provisions are measured on a discounted basis.

q) Income taxes:

i) Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Current income tax relating to items recognised directly in equity is recognised in equity and not in the statement of profit and loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

ii) Deferred tax

Deferred tax is provided using the balance sheet approach on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purpose at reporting date. Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilized. The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

iii) Minimum Alternate Tax

Minimum Alternate Tax credit is recognized, as an asset only when and to the extent there is convincing evidence that the group will pay normal income tax during the specified period. In the year in which the MAT credit becomes eligible to be recognized as an asset in accordance with the recommendations contained in guidance note issued by the Institute of Chartered Accountants of India, the said asset is created by way of a credit to the Statement of Profit and Loss and shown as MAT Credit Entitlement under Other Assets . The group reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the effect that group will pay normal Income Tax during the specified period.

Tax expense for the year comprises current and deferred tax.

r) Revenue recognition:

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable excluding taxes or duties collected on behalf of the government.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying amount on initial recognition.

Rent Income

Income from operating lease is recognized in the statement of profit & Loss as per contractual rentals unless another systematic basis is more representative of the time pattern in which benefit derived from the leased assets is diminished.

Dividend income

Dividend income from investments is recognised when the shareholder’s rights to receive payment have been established.

s) Borrowing costs:

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use. Transaction cost in respect of long-term borrowings are amortised over the tenure of respective loans using effective interest method.

All other borrowing costs are recognised in the statement of profit and loss in the period in which they are incurred. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.

t) Contingent Liabilities and Contingent Assets:

A contingent liability is a possible obligation that arises from a past event, with the resolution of the contingency dependent on uncertain future events, or a present obligation where no outflow is probable. Major contingent liabilities are disclosed in the financial statements unless the possibility of an outflow of economic resources is remote. Contingent assets are not recognized in the financial statements but disclosed, where an inflow of economic benefit is probable.

u) Earnings Per Share:

Earnings per share are calculated by dividing the net profit for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

(ii) Amendment to Existing issued Ind AS

The MCA has also carried out amendments of the following accounting standards:

i. Ind AS 21 - The Effects of Changes in Foreign Exchange Rates

ii. Ind AS 40 - Investment Property

iii. Ind AS 12 - Income Taxes

iv. Ind AS 28 - Investments in Associates and Joint Ventures and

v. Ind AS 112 - Disclosure of Interests in Other Entities

Applications of above standards are not expected to have any significant impact on the Company’s Financial Statements.

Additional Disclosures:

1 The title deeds of immovable properties included in property, plant and equipment are held in the name of the Company.

2 The immovable properties included in property, plant and equipment have not been revalued during the year.

3 The Investment properties have not been revalued.

4 The company does not have any intengible assets, hence revaluation is not applicable.

5 During the year the company has not granted any Loan or advance in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person that are:

a. repayable on demand : or

b. without specifying any terms or period of repayment,

6 No proceeding has been initiated or pending against the company for holding any benami property under the Benami T ransactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

7 The company does not have any borrowings from banks or financial institutions.

8 The company is not declared wilful defaulter by any bank or financial Institution or other lender.

9 The company has not entered into any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

10 No charges or satisfaction yet to be registered with ROC beyond the statutory period.

11 The company has complied with the number of layers prescribed under clause (87) of section 2 of the act read with companies (Restriction on number of layers) rule 2017.

12 During the year any Scheme of Arrangements has not been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

13 Utilisation of Borrowed funds and share premium:-

A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

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

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

(B) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall

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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

14 The company has not traded or invested in Crypto Currency or Virtual currency during the year.

The accompanying notes are an integral part of the financial statements..

20 SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

21 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registered as Non Banking Finance Company with Reserve Bank of India vide Registration no. N-13.02048 dated 15.07.2013 and has been complying with prudential norms as prescribed by RBI for NBFC.

Additional particulars as required under '' Non- Systematically Important Non-Banking Financial (Non-Deposit Accepting or Holding ) Companies Prudential Norms (Reserve Bank) Directions, 2015 are attached , under Separate Annexure - I.

22 Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised -Schedule - III and make them comparable with current year.

Signatures to Accompanying Notes forming an integral part of the Financial Statements.

In terms of our report of even date attached

For AMAA & Associates For and on behalf of the Board

Chartered Accountants Firm Reg. No. 013066C

Mukesh Sharma Kamal Kishore Bhartia Shruti Raghav Jindal

Partner Director Whole-time Director

Membership No. 505453 DIN - 00081236 DIN - 02208891

Ayush Goel Rajender Singh

Place : Gurugram Company Secretary CFO

Dated : 22-05-2023 A62697 PAN - APIPS0673Q

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Mar 31, 2018

1 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18

Related Parties Nil

Key Managerial Personnel

Mrs. Shruti Raghav Jindal, Wholetime Director Mr. Rajender Singh, CFO Mrs. Sandhya Tiwari, C.S.

2 SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

3 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. N-13.02048 dated 15.07.2013 and has been complying with prudential norms as prescribed by RBI for NBFC.

Additional particulars as required under ‘ Non- Systematically Important Non-Banking Financial (Non-Deposit Accepting or Holding ) Companies Prudential Norms (Reserve Bank) Directions, 2015 are attached , under Separate Annexure - I.

4 Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised - Schedule-III and make them comparable with current year.

Signatures to Accompanying Notes forming an integral part of the Financial Statements.

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Mar 31, 2015

Year Ended Year Ended 31.03.2015 31.03.2014 (Rs) (Rs.)

1. CONTINGENT PROVISION AGAINST STANDARD ASSETS

Opening Balance 126,420 77,000

Add During the Year 40,260 49,420

Closing Balance 166,680 126,420

The Reserve Bank of India has notified vide its Notification No DNBS.222/CGM(US)-2011dated 17th January, 2011 to make a provision on 0.25% on the standard assets.

2. RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18

Related Parties with whom Transaction have taken place during the Year

a. Associate Company

Maharashtra Seamless Limited

Sudha Apparels Limited

Global Jindal Fin-invest Limited

Stable Trading Co. Limited

b. Key Managerial Personnel

Ms. Shruti Raghav Jindal, Wholetime Director from 1.07.2014

Mr. Sudhir Kumar Singhal up to 30.06.2014

Ms. Dipika Gupta, CFO

Mr. Tarun Dua, C.S.

3. SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

4. RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. 13.02048 dated 15.07.2013 and has been complying with prudential norms as prescribed by RBI for NBFC.

Schedule to the Balance Sheet of a non-deposit taking non-banking financial company as required in terms of paragraph 13 of Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve bank) Directions, 2015 separately attached as Annexure - I.

5. Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised - Schedule-VI and make them comparable with current year.

Signatures to Accompanying Notes forming an integral part of the Financial Statements.

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Mar 31, 2014

1 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18 Related Parties with whom Transaction have taken place during the Year

a. Associated Companies

Maharashtra Seamless Limited Sudha Apparels Limited Global Jindal Fin-invest Limited Stable Trading Co. Limited

b. Key Managerial Personnel

Shri Sudhir Kumar Singhal

2 SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

3 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. N-14.03168 dated 12.11.2008 and has been complying with prudential norms as prescribed by RBI for NBFCs. Schedule to the Balance Sheet of a non-deposit taking non-banking financial company as required in terms of paragraph 13 of Non-Deposit Accepting or Holding Companies Prudential Norms (Reserve bank) Directions, 2007 separately attached as Annexure - I.

4 Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised -Schedule-VI and make them comparable with current year.

Signatures to Accompanying Notes forming an integral part of the Financial Statements.

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Mar 31, 2013

1 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD -18

Related Parties with whom Transaction have taken place during the Year

a. Associated Companies

Maharashtra Seamless Limited Sudha Apparels Limited Global Jindal Fin-invest Limited Stable Trading Co. Limited

b. Key Managerial Personnel

Shri Sudhir Kumar Singhal

2 SEGMENT REPORTING

The Company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

3 During the year Company Registered Office has been shiffted from State of Haryana to State of Maharashtra.

4 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. N- 14.03168 dated 12.11.2008 and has been complying with prudential norms as prescribed by RBI for NBFCs. Schedule to the Balance Sheet of a non-deposit taking non-banking financial company as required in terms of paragraph 13 of Non-Deposit Accepting or Holding Companies Prudential Norms (Reserve bank) Directions, 2007 separately attached as Annexure -1.

5 Previous years figures have been regrouped / rearranged wherever necessary to conform to the reclassification as per Revised -Schedule-VI and make them comparable with current year.

Signatures to Accompanying Notes forming an integral part of the Financial Statements.

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Mar 31, 2012

YEAR ENDED YEAR ENDED 31.03.2012 31.03.2011 (Rs.) (Rs.)

1 CONTINGENT LIABILITIES

Income tax demand disputed with Appellate Authority for the Assessment Year 2008-09 29,900 -

Less - Amount already paid 29,900 -

- -

2 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18

Related Parties with whom Transaction have taken place during the Year

a. Associated Companies Maharashtra Seamless Limited Sudha Apparels Limited Global Jindal Fin-invest Limited

b. Key Managerial Personnel

Shri Sudhir Kumar Singhal

3 SEGMENT REPORTING

The company is primarily engaged in Investment in shares and securities and financing which are not separate reportable segment as per Accounting Standard - 17 of The Institute of Chartered Accountants of India. Hence there is no separate segment-wise report to be furnished.

4 RESERVE BANK OF INDIA REGISTERED NON BANKING FINANCE COMPANY

The company is registerd as Non Banking Finance Company with Reserve Bank of India vide Registration no. N-14.03168 dated 12.11.2008 and has been complying with prudential norms as prescribed by RBI for NBFC.

Schedule to the Balance Sheet of a non-deposit taking non-banking financial company as required in terms of paragraph 13 of Non-Deposit Accepting or Holding Companies Prudential Norms (Reserve bank) Directions, 2007 separately attached as Annexure - I.

5 Previous years figures have been regrouped / rearranged where ever necessary to conform to the reclassification as per Revised - Schedule-VI and make them comparable with current year.

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Mar 31, 2010

1. Contingent Liability :

Income Tax demand (disputed in appeals) for the A.Y. 2006-07 amount Rs.31,990/- (Previous year Rs. 10,747/-).

2. Amount due to Micro Small & Medium Enterprises Suppliers (MSMES) is Nil (Previous year Nil). No amount was due to any small sector unit.

3. In the opinion of the management and to the best of their knowledge and belief, the value of current assets, loans and advances, if realised in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

4. Amount due for deposit in Investor Education & Protection Fund as on 31.03.2010 is Nil (Previous Year Nil).

5. Employees benefits provided to employees has been classified as under:

The two plans of the Company namely for Gratuity and Leave Encashment are unfunded. Any amount paid and provided for gratuity and leave encashment are adjusted to profit & loss account. Liability is ascertained at the end of each financial year and the increase / decrease in the amount of liability is adjusted in the profit & loss account. Liability of Gratuity payable to an employee is equal to 15 days salary based on the last drawn salary for every completed year of service or part thereof in excess of six months. Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 40,038/- (Previous Year Rs. 23,519/-) has been adjusted to the profit and loss account on account of variation in liability for Gratuity at year end. No amount was paid as Gratuity during the year. Liability of Leave Encashment payable to an employee is equal to salary for earned leaves to the credit of employee based on the salary last drawn. Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 11,737/- (Previous Year Nil) was paid as leave encashment to the employee and Rs. 5,169/- (Previous Year Rs. 8,836/-) has been adjusted to the profit and loss account on account of variation in liability for leave encashment at year end.

6. The Company is registered as Non Banking Financial Company with the Reserve Bank of India vide Registration no. N-14.03168 dated 12.11.2008 and has been complying with prudential norms as prescribed by RBI for NBFC.

7. The necessary formalities in respect of change of name / mutation of land of casinvest division of Jindal Drilling & Industries Limited in favour of Haryana Capfin Limited pending in the Revenue records of Land Authorities, is under progress. However, the legal rights of these properties vest in Haryana Capfin Limited as per approved scheme of arrangement by operation of Statute viz. Sections 391 to 392 of the Companies Act, 1956.

8. Other additional Information pursuant to part IV of Schedule VI to the Companies Act, 1956 - Nil (Previous year Nil)

9. Figures have been rounded off to the nearest rupees.

10. Previous years figures have been re-grouped / re-arranged wherever considered necessary.