Notes to Accounts of K Z Leasing & Finance Ltd.

Mar 31, 2024

xiii Provisions, contingent liability and contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an out flow
of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised
as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit
and loss net of any reimbursement.

If the effect of the 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.

Contingent liability arises when the Company has:

a) a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the entity;or

b) a present obligation that arises from past events but is not recognized because:

(i) it is not probable that an outflow of resources embodying economic benefits will be required to settle he obligation;or

(ii) the amount of the obligation cannot be measured with sufficient reliability.

Contingent liabilities are not recorded in the financial statement but, rather,are disclosed in the note to the financial statements.

Contingent assets are disclosed when an inflow of economic benefits is probable.

xiv Earning per share

The basic earnings per share is computed by dividing the net profit attributable to equity shareholders for the period by the weighted average number
of equity shares outstanding during the period. The number of shares used in computing diluted earnings per share comprises the weighted average
shares considered for deriving basic earnings per share, and also the weighted average number of equity shares which could be issued onthe
conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning of the period, unless they
have been issued at a later date. In computing dilutive earnings per share, only potential equity sharesthat are dilutive and that would, if issued, either
reduce future earnings pershare or increase loss per share, are in included.

i Key accounting estimates

ii Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active
markets, their fair value are measured using valuation techniques. The inputs to these models are taken from observable markets where possible, but
where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity
risk, credit risk and volatility. Changes in assumptions relating to these factors could affect the reported fair value of financial instruments.

iii Impairment of non-financial assets

Impairment exists when the carrying value of an asset orcash generating unit exceeds its recoverable amount, which is the higher of its fair valueless
costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions,
conducted at arm''s length, for similar assets orobservable market prices less incremental costs for disposingof the asset.The value inuse calculation is
based on a discounted cashflow (DCF) model. The cash flows are derived from the budget and do not include restructuring activities that the Company
is not yet committed to or significant future investments that will enhance the asset''s performance of the CGU being tested.The recoverable amount
is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extra polation
purposes.

iv Taxes

Deferred tax assets are recognised for unused tax credits to the extent that it is probable that taxable profit will be available against which the losses
can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon
the likely timing and the level of future taxable profits together with future tax planning strategies.

v Property,Plant and Equipment

Useful life of Property, Plant and Equipment is taken as stated in Schedule II of Companies Act, 2013. The carrying values of Property, plant and
equipment have been disclosed in Note 2.

vi Intangible assets

Useful life of Intangible assets is taken as stated in Schedule II of Companies Act, 2013.The carrying values of Intangible assets have been disclosed in
Note 2.

4. Debtors turnover ratio: It is decreased due to increase in average trade receivable.

5. Net Profit Ratio (%): It is increased due to increase in overall net profit of the company.

6. Return on capital Empolyed (%): It is increased due to increased in sales and accordingly the profit before tax and interest also
increased.

7. Return on Investments (%): It is increased due to increased in net profit of the company.

28. Micro and Small Scale Business Enterprises: The management has initiated the process of identifying enterprises small enterprise,
Which have been providing goods and services to the company and which qulify under the definition of micro and as defined under
Micro, Small and Medium enterprise Development Act, 2006. According, the disclosure requirement here under is not furnished.

29. Previous year figures has regrouped wherever necessary.

30. Figure have been round off to nearest Rupees.

31. Additional Regulatory Information:

1. Details of crypto currency or virtual currency

The Company has neither traded nor invested in crypto currency or virtual currency during the period ended March 31, 2024 and
March 31, 2023. Further, the company has also not received any deposits or advances from any person for the purpose of trading
Or invesing in crypto currency or virtual currency.

2. Undisclosed income

During the year endedMarch 31, 2024 and March 31, 2023, the company has not surrendered or disclosed as income any
Transaction not recorded in the books of accounts in the course of tax assessments under the Income Tax Act, 1961
(Such as, search or survey or any other relevant provision of the Income Tax Act, 1961).

3. Loans or Advances to specified persons

The company has granted loans or advances in nature of loans to promoters/directors/KMPs/Related Parties (as Defined under
the companies Act, 2013) for the period ended March 31, 2024 and March 31, 2023.

4. Compliance with numbers of layers of companies

The compliance with the number of layers of companies in accordance with clause 87 of section 2 of the Act read with the
companies (Restriction on number of Layers) Rules, 2017 during the period ended March 31, 2024 and March 31, 2023.

5. Utilisation of borrowed funds and share premium

During the year ended March 31, 2024 and March 31, 2023 the company has not advanced or loaned or invested funds ( either
borrowed funds or share premium or kind of funds) to any other persons or entity, including foreign entities ( Intermediaries)
with the understanding (whether recorded in writing or otherwise) that the intermediary shall.

Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or On behalf of the
Companys (ultimate beneficiaries) or

i) Provide any guarantee, security or the like to or on behalf of the beneficiaries.

During the year ended March 31, 2024 and March 31, 2023 the company has not received any fund from any persons or entity,
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 company (ultimate beneficiaries) or

ii) Provide any guarantee, security or the like to or on behalf of the beneficiaries.

6. Relationship with struck off companies.

The Company does not have any transaction with the companies struck off under section 248 of the companies Act, 2013 or
section 560 of the companies Act, 1956 during the period ended March 31, 2024 and March 31, 2023.

7. The company has not been declared wilful defaulter by any bank or financial institution or government or any Government
authority.

8. No proceeding have been initated nor pending against the company for holding anu benami property undr the Benami
Transactions (Prohibitaion) Act 1988 and rules made thereunder.

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Mar 31, 2014

Notes: 1.a

(i) Reconciliation of the number of shares and amount outstandi ng at the beginning and at the end of the reporting period:

Note 1.b

There were no instances of shares being issued/allotted by way of bonus shares or for consideration other than cash and no shares have been bought back by the company during the period of five years immediately preceding the date of balance sheet.

Notes: 2.a

The Board of Director have accepted deposits from closely related of Directors. The company has filed annual return with R.B.I. In time. The company at present maintained liquidity ratio as required by non banking financial, companies rules ( 1971 ) of R.B.I. There is no any default of repayment of deposits together with interest. Prospectus in lieu of advertisement have not been produced before us.

Related Party Disclosures :

List of Related Parties with whom transactions have taken place during the year.

2.b) Key Management Personnel Mr. Pravinbhai K. Patel Mr. Ankitbhai P. Patel

2.C) Relatives of Key Management Personnel

Name of Party Related party Relationship

A.Patel & co Key Management personnel is Proprietor

Keshavlal Z Patel(HUF) Key Management personnel is Karta

Pravinkumar & co. Key Management personnel is Proprietor

Chaitali Patel Relative of Key Management Personnel

Hardik P.Patel(HUF) Relative of Key Management Personnel

Hardik P.Patel Relative of Key Management Personnel

Kailashben P.Patel Relative of Key Management Personnel

Kenaben H.Patel Relative of Key Management Personnel

Kapilaben B. Patel Relative of Key Management Personnel

Mihir B.Patel Relative of Key Management Personnel

Amratlal K. Patel Relative of Key Management Personnel

Babulal K.Patel Relative of Key Management Personnel

Nature of Security

(i) Loans are guaranteed against the Fixed deposit (Asset) of the company (iii) Terms of Re-payment of Loan

Particulars Repayment Terms

The Navnirman Co Op Bank Ltd UCO Bank

Note 3 Trade Payables

Notes: 3.a

1 All the Balances of loans and Advances, Leassee, Depositors, andsecurity depositors are subject to their balances confirmation.

2 In the opinion of the Board of Director, current Assets loans and Advance of Business at least equal to the amount at which they are stated.

3 Additional Information Pursuant to paragraphs 3 (I) (II), 4B and 4C of Part - II of Schedule VI of the companies Act. 1956. These clause are not applicable to company as company is lease finance company.

4. Generic Names Of three Principal Products/Services of Company ( As Per Monetary Terms)

Items Code No. : N.A

Product Description : Hier Purchase

Items Code No. : N.A

Product Description : Leasing

Items Code No. : N.A

Product Description : Bill Discounting

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Mar 31, 2013

1) Corporate information

K. Z. Leasing & Finance Ltd. has over the years been practicing the principles of good Corporate Governance and continuously reviews its investor relationship measures with a view K. Z. Leasing & Finance Ltd. Basically need and is not to be looked upon as an issue of compliance alone.

Note 2.A

There were no instances of shares being issued/allotted by way of bonus shares or for consideration other than cash and no shares have been bought back by the company during the period of five years immediately preceding the date of balance sheet.

Notes: 3.A

The Board of Director have accepted deposits from closely related of Directors. The company has filed annual return with R.B.I. In time. The company at present maintained liquidity ratio as required by non banking financial, companies rules (1971 ) of R.B.I. There is no any default of repayment of deposits together with interest. Prospectus in lieu of advertisement have not been produced before us.

Notes: 4.A

1 All the Balances of loans and Advances, Leassee, Depositors, andsecurity depositors are subject to their balances confirmation.

2 In the opinion of the Board of Director, current Assets loans and Advance of Business at least equal to the amount at which they are stated.

3 Additional Information Pursuant to paragraphs 3 (I) (II), 4B and 4C of Part - II of Schedule VI of the companies Act. 1956. These clause are not applicable to company as company is lease finance company.

Notes :

1. As defined in paragraph 2(1) (xii) of the non Banking Financial companies Acceptance of Public Deposit ( Reserve Bank ) Directions, 1998

2. Provisioning norms shall be applicable as prescribed in the Non Banking Financial Companies Prudential Norms ( Reserve Bank ) directions, 1998

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in espect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column (5) above.

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Mar 31, 2012

1) Corporate information

K. Z. Leasing & Finance Ltd. has over the years been practicing the principles of good Corporate Governance and continuously reviews its investor relationship measures with a view K. Z. Leasing & Finance Ltd. Basically need and is not to be looked upon as an issue of compliance alone.

Note 2.a

There were no instances of shares being issued/allotted by way of bonus shares or for consideration other than cash and no shares have been bought back by the company during the period of five years immediately preceding the date of balance sheet.

Notes: 2.a

The Board of Director have accepted deposits from closely related of Directors. The company has filed annual return with R.B.I. In time. The company at present maintained liquidity ratio as required by non banking financial, companies rules (1971 ) of R.B.I. There is no any default of repayment of deposits together with interest. Prospectus in lieu of advertisement have not been produced before us.

Notes: 3.a

1 All the Balances of loans and Advances, Leassee, Depositors, andsecurity depositors are subject to their balances confirmation.

2 In the opinion of the Board of Director, current Assets loans and Advance of Business at least equal to the amount at which they are stated.

3 Additional Information Pursuant to paragraphs 3 (I) (II), 4B and 4C of Part - II of Schedule VI of the companies Act. 1956. These clause are not applicable to company as company is lease finance company.

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Mar 31, 2010

1 All the Balances of loans and Advances, Leassee, Depositors, and security depositors are

2 subject to their balances confirmation.

3 In the opinion of the Board of Director, current Assets loans and Advance of Business at

4 least equal to the amount at which they are stated.

5 Additional Information Pursuant to paragraphs 3 (I) (II), 4B and 4C of Part - II of Schedule VI of the companies Act. 1956. These clause are not applicable to company as company is lease finance company.

6 The Board of Director have accepted deposits from closely related of Directors. The company has filed annual return with R.B.I. In time. The company at present maintained liquidity ratio as required by non banking financial, companies rules (1971 ) of R.B.I. There is no any default of repayment of deposits together with interest. Prospectus in lieu of advertisement have not been produced before us.

7 Previous year figures and Security Deposits are regrouped. Subject to our Audit Report of even date.