Notes to Accounts of Kumbhat Financial Services Ltd.

Mar 31, 2025

2.9 Provisions and contingent liabilities
Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event, and it is probable that the Company will be required to settle the obligation,
and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle
the present obligation at the end of the reporting period, taking into account the risks and
uncertainties surrounding the obligation. When a provision is measured using the cash flows
estimated to settle the present obligation, its carrying amount is the present value of those cash
flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be
recovered from a third party, a receivable is recognised as asset if it is virtually certain that
reimbursement will be received and the amount of the receivable can be measured reliably.

Contingent Liabilities

A disclosure for contingent liabilities is made where there is:

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

1) it is not probable that an outflow of resources embodying economic benefits will be
required to settle the obligation or

2) the amount of the obligation cannot be measured with sufficient reliability.Provisions,
contingent liabilities, contingent assets and commitments are reviewed at each reporting
period.

2.10 Changes in Accounting Standards

MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases,
relating to sale and leaseback transactions, applicable to the Company w.e.f. April 1, 2024. The
Company has reviewed the new pronouncements and based on its evaluation has determined
that it does not have any significant impact in its financial statements.

There are no amendments to the Accounting Standards, notified, which are applicable from a
date after 31st March 2025.

(i) The Company has obtained Shareholder''s approval through special resolution at its 31st
Annual General Meeting of the Company held on August 19, 2024, to borrow in excess of
the paid-up share capital and free reserves and securities premium of the Company under
Section 180(1) (c) of the Companies Act, 2013, by way of issue of nonconvertible debentures,
cash credit, loan, overdraft, discounting of bills, operating of letters of credit, for standing
guarantee or counter-guarantee and any other type of credit line or facility up to an amount
not exceeding Rs.2,500.00 lakhs (including the money already borrowed by the Company).
Accordingly the Company has borrowed Rs.1,500.00 lakhs as of March 31, 2025.

(ii) During the year, the Company has obtained Unsecured Term Loan from the lender M/s
Monet Securities Private Limited for Rs.500.00 lakhs (in multiple Tranches) for the purpose
of working capital and operational requirments i.e, for further lending activities of the
Company''s objects. The Term loan carries at a fixed coupon rate at 12% per annum, which
is payable in arrears on the last day of each calendar quarter, commencing on the first such
date following the disbursal of the loan ammount to the Company. This Principal amount
of Term loan is repayable in 8 semi-annual installments after the moratorium period of one
year, beginning from the end of quarter immediately after completion of moratorium period
i.e, March 31, 2026.

(iii) During the year, the Company has obtained Unsecured Term Loan from the lender M/s
Maa Creations Private Limited for Rs.800.00 lakhs (in multiple Tranches) for the purpose of
working capital and operational requirements i.e, for further lending activities of the
Company''s objects. The Term loan carries at a fixed coupon rate at 12% per annum, which
is payable in arrears on the last day of each calendar quarter, commencing on the first such
date following the disbursal of the loan amount to the Company. This Principal amount of
Term loan is repayable in 8 semi-annual installments after the moratorium period of one
year, beginning from the end of quarter immediately after completion of moratorium period
i.e, June 30, 2026.

(iv) During the year, the Company has obtained Unsecured Term Loan from the lender M/s
Monet Securities Private Limited for Rs.200.00 lakhs on December 20, 2024, for the purpose
of working capital and operational requirements i.e, for further lending activities of the
Company''s objects. The Term loan carries at a fixed coupon rate at 12% per annum, which
is payable in arrears on the last day of each calendar quarter, commencing on the first such
date following the disbursal of the loan ammount to the Company. This Principal amount
of Term loan is repayable in 8 semi-annual installments after the moratorium period of one
year, beginning from the end of quarter immediately after completion of moratorium period
i.e, March 31, 2026.

(v) Classification into Current and Non-Current Borrowing :

(vi) The Company has not defaulted in repayment of any loan or borrowing or the payment of
interest thereon during the year and there has been no continuing default as of the Balance
Sheet date.

(vii) The Company is not declared as a wilful defaulter by any of the banks or financial institutions
or government or government agencies or any other lenders.

(viii) The above term loans were applied for the purpose for which such loans were taken.

(ix) The Company does not have any subsidiaries, joint ventures or associate companies and
hence the question of evaluation..." of above funds have not been availed/utilised by the
Company on account of or to meet the obligations of its subsidiaries, associates or joint
ventures or not and the above loans are not secured by way of pledge of securities held in
its subsidiaries, joint ventures or associate companies or not, does not arise.

(x) The Company has not raised any funds on short term basis during the year, hence the
question of overall evaluation of funds raised on short term basis have been utilised for
long term purposes or not, does not arise.

(xi) The Company has not taken borrowings from banks or financial institutions on the basis of
security of current assets.

(i) The Board of directors of the Company, in their meeting held on February 18, 2025, had
approved the transaction for issue of 5,78,000 equity shares of face value of ? 10/- each of
the Company on a preferential basis, at a price of ? 24/- (includes Share Premium of ? 14/-
each per share) for total consideration of ? 138.72 lakhs to Mr Sanjay Kumbhat. On March
17, 2025, the shareholders of the Company also approved such issuance of Equity shares in
the Extraordinary General Meeting and the equity shares were allotted on March 29, 2025,
in accordance with the provisions of the Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) Regulations, 2018 and other applicable rules/
regulations/ guidelines, if any, prescribed by any other regulatory or statutory authorities.

(ii) The Company has parked the funds in a separate bank account pending utilization in the
next year.

(iii) The Company has complied with the requirments of Section 42 and Section 62 of the
Companies Act, 2013, and Rule 14 of the Companies (Prospectus and Allotment of Securities)
Rules, 2014.

(b) Terms/Rights attached to equity shares

The Company has only one class of equity shares of par value of ? 10/- per share. Each holder of
equity shares is entitled to one vote per share. Any dividend proposed by the Board of Directors
is subject to the approval of the shareholders in the ensuing Annual General Meeting. The
Company declares and pays dividends in Indian rupees. During the current financial year no
dividend has been proposed by the Company.

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.

(c) Details of shareholders holding more than 5% shares in the Company

As per the records maintained, including register of shareholders/members and other declaration
received from shareholders regarding beneficial interest, the shareholding given below
represents both legal and beneficial ownership of shares. _______. . _. ...

(e) There are no shares that have been issued, subscribed and not fully paid up as of and during
the reporting period.

(f) There are no forfeited shares as of the reporting period.

(g) There are no shares reserved for issue under options and contracts/ commitments for the sale
of shares/ disinvestment as of and during the reporting period.

(h) The Company has not issued any securities convertible into equity shares/preference shares as
of and during the reporting period.

(i) For the period of five years immediately preceding the date as at which the Balance
Sheet is prepared :

(i) No shares were allotted as fully paid up pursuant to a contract without payment being
received in cash by the Company.

(ii) No shares were allotted as fully paid up by way of bonus shares by the Company.

(iii) No shares were bought back by the Company.

* For detailed movement of reserves refer Statement of Changes in Equity for the year ended March
31, 2025 and March 31, 2024.

Note :

(i) The Company has not declared or paid any dividend during the year and has not proposed
any final dividend for the financial year ended March 31, 2025 (March 31, 2024: Nil).

Nature and purpose of reserve :

(a) Securities Premium Reserve :

Securities premium is used to record the premium on issue of shares. The reserve can be utilised
in accordance with the provisions of the Companies Act, 2013.

(b) General Reserve :

Amount set aside from retained profits as a general reserve to be utilised in accordance with
provisions of the Companies Act, 2013.

(c) Statutory reserve (As required by Sec 45-IC of Reserve Bank of India Act, 1934) :

Statutory reserve represents the accumulation of amount transferred from surplus year on year
based on the fixed percentage of profit for the year, as per section 45-IC of Reserve Bank of India
Act 1934.

(d) Retained Earnings :

Retained earnings are the profits that the Company has earned till date, less any transfers to
statutory reserve, general reserve or any other such other appropriations to specific reserves.

37 Segment Reporting

The Company operates in a single business segment i.e. financing, as the nature of the loans are
exposed to similar risk and return profiles hence they are collectively operating under a single
segment as per Ind AS 108 on ''Operating Segments''. The Company operates in a single
geographical segment i.e. domestic, and hence there is no external revenue or assets which require
disclosure. No revenue from transactions with a single external customer aggregates to 10% or
more of the Company''s total revenue during the year ended March 31, 2025. But during the
previous financial year the Company had single external customer from which there was more
than 10% of Company''s total "Revenue from Operations" amounting to Rs.13.66 Lakhs this revenue
is attributed to the financing segment.

38 Capital Management

The primary objectives of the Company''s capital management policy are to ensure that the
Company complies with externally imposed capital requirements and maintains strong credit
ratings and healthy capital ratios in order to support its business and to maximise shareholder
value.

The Company manages its capital structure and makes adjustments to it according to changes in
economic conditions and the risk characteristics of its activities. In order to maintain or adjust the
capital structure, the Company may adjust the amount of dividend payment to shareholders, return
capital to shareholders or issue capital securities.

40 Risk Management

Risk is an integral part of the Company''s business and sound risk management is critical to the
success of Healthy Business Model. As a financial intermediary, the Company is exposed to risks
that are particular to its lending and the environment within which it operates and primarily
includes credit, liquidity and market risks. The Company has a risk management policy which covers
risk associated with the financial assets and liabilities. The risk management policy is approved by
the Board of Directors.

The Company has identified and implemented comprehensive policies and procedures to assess,
monitor and manage risk throughout the Company. The risk management process is continuously
reviewed, improved and adapted in the changing risk scenario and the agility of the risk
management process is monitored and reviewed for its appropriateness in the changing risk
landscape. The process of continuous evaluation of risks includes taking stock of the risk landscape
on an event-driven basis.

The Company has an elaborate process for risk management. Major risks identified by the
businesses and functions are systematically addressed by implementing required preventive,
detective and corrective controls, and through mitigating actions on a continuing basis.

A. Credit Risk

Credit risk is the risk of loss that may occur from defaults by our Borrowers under our loan
agreements. In order to address credit risk, we have stringent credit risk assessment policies for
client selection. The Credit policy is approved by Board of Director and changes in credit policy is
placed before the board for approval.

Measures such as verifying client details, online documentation and the usage of credit bureau
data to get information on past credit behaviour also supplement the efforts for containing credit
risk. There is a exhaustive client due diligence process in place which includes verification through
both internal employees of the company and external due diligence agency.

In order to mitigate the impact of credit risk in the future profitability, the company makes
provisions basis the expected credit loss (ECL) model for the outstanding loans as at balance
sheet date.

The below discussion describes the Company''s approach for assessing impairment as stated in
the material accounting policies.

The Company considers a financial assets defaulted and therefore Stage 3 (credit impaired) for
ECL calculations in all cases when the borrower becomes 90 days past due on its contractual
payments.

Exposure at Default (EAD)

The outstanding balance at the reporting date is considered as EAD by the Company. Considering
that the PD determined above factors in amounts at default, there is no separate requirement to
estimated EAD.

The Company uses historical information where available or comparable industry norms to
determine PD. Considering the different products and schemes, the Company categorises its loan
portfolio into various pools, as required.

Loss Given Default

The Company determines its recovery rates by analysing the recovery trends over different periods
of time after a loan has defaulted. In estimating LGD, the company reviews macro-economic
developments taking place in the economy.

B. Liquidity Risk

Liquidity risk refers to the risk that the Company may not meet its financial obligations. Liquidity
risk arises due to the unavailability of adequate funds at an appropriate cost or tenure. The
objective of liquidity risk management, is to maintain sufficient liquidity and ensure that funds
are available for use as per requirements. The Company consistently generates sufficient cash
flows from operating and financial activities to meet its financial obligations as and when they fall
due. Our resource mobilisation team sources funds from multiple sources, including from banks,
financial institutions and capital markets to maintain a healthy mix of sources. The resource
mobilisation team is responsible for diversifying fund raising sources, managing interest rate risks
and maintaining a strong relationship with banks, financial institutions, mutual funds, insurance
companies, other domestic and foreign financial institutions and rating agencies to ensure the
liquidity risk is well addressed.

The table below provide details regarding the contractual maturities of significant financial assets
and liabilities as of reporting periods :

C. Market Risk

Market Risk is the risk that the fair value or the future cash flows of a financial instrument will
fluctuate because of changes in market factor. Such changes in the values of financial instruments
may result from changes in the interest rates, credit, liquidity, and other market changes. The
Company is exposed to two types of market risk as follows: (i) Interest Rate Risk ; (ii) Price Risk.

(i) Interest Rate Risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate
because of changes in market interestrates.

We are subject to interest rate risk, principally because we lend to clients at fixed interest
rates and for periods that may differ from our funding sources, while our borrowings are at
both fixed and variable interest rates for different periods. We assess and manage our interest
rate risk by managing our assets and liabilities. Our Asset Liability Management Committee
evaluates asset liability management, and ensures that all significant mismatches, if any, are
being managed appropriately.

The Company has Board Approved Asset Liability Management (ALM) policy for managing
interest rate risk and policy for determining the interest rate to be charged on the loans
given.

The following table demonstrates the sensitivity to a reasonably possible change in the
interest rates on the portion of borrowings affected. With all other variables held constant,
the profit before taxis affected through the impact on floating rate borrowings, as follows:

(ii) Price Risk

The Company''s exposure to price risk is not material and it is primarily on account of
investment of temporary treasury surpluses in the highly liquid debt funds for very short
durations. The Company has a board approved policy of investing its surplus funds in highly
rated debt mutual funds and other instruments having insignificant price risk, not being
equity funds/ risk bearing instruments.

Note : There were no transfers between Level 1, Level 2, Level 3 during the current year and the
corresponding previous year.

Valuation principles

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, 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.

Valuation methodologies of financial instruments not measured at fair value :

Below are the methodologies and assumptions used to determine fair values for the above financial
instruments which are not recorded and measured at fair value in the Company''s financial statements.
These fair values were calculated for disclosure purposes only. The below methodologies and
assumptions relate only to the instruments in the above tables and, as such, may differ from the
techniques and assumptions explained.

Financial Assets and Liabilities

For financial assets and financial liabilities that have a short-term maturity (less than twelve months),
the carrying amounts, which are net of impairment, are a reasonable approximation of their fair value.
Such instruments include : cash and balances, balances other than cash and cash equivalents, trade
payables and contract liability without a specific maturity. Such amounts have been classified as Level
2 on the basis that no adjustments have been made to the balances in the balance sheet.

Valuation techniques

Level 1: Prices quoted in active markets - The fair value of instruments that are quoted in active markets
are determined using the quoted prices where they represent prices at which regularly and recently
occurring transactions take place.

Level 2: Valuation techniques with observable inputs - The Company uses valuation techniques to
establish the fair value of instruments where prices, quoted in active markets, are not available. Valuation
techniques used for financial instruments include modeling techniques, the use of indicative quotes
for proxy instruments, quotes from recent and less regular transactions and broker quotes. Derivatives
are valued using mark-to-market receivable/payable indicated by the counterparties. The valuation
derived based on counterparties quote are also independently validated.

Level 3: This level of hierarchy includes financial assets and liabilities measured using inputs that are
not based on observable market data (unobservable inputs). Fair values are determined in whole or in
part, using a valuation model based on assumptions that are neither supported by prices from
observable current market transactions in the same instrument nor are they based on available market
data. Management uses its best judgment in estimating the fair value of its financial instruments.
However, there are inherent limitations in any estimation technique. Therefore, for substantially all
financial instruments, the fair value estimates presented above are not necessarily indicative of all the
amounts that the Company could have realized or paid in sale transactions as of respective dates. As
such, the fair value of the financial instruments subsequent to the respective reporting dates may be
different from the amounts reported at each year end.

42 RBI Disclosures

a) Disclosure pursuant to RBI Notification - RBI / 2019 - 20 / 170 DOR (NBFC). CC. PD. No. 109 /
22.10.106 / 2019-20 dated 13th March 2020 :

44 Other Disclosures

(i) No Benami Property is held by the Company and/or there are no proceedings that have
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.

(ii) The Company has reviewed transactions to identify if there are any transactions with struck
off companies. To the extent information is available on struck off companies, there are no
transactions with struck off companies.

(iii) There are no charges or satisfaction in relation to any debt / borrowings which are yet to be
registered with ROC beyond the statutory period.

(iv) 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) Rules, 2017.

(v) Other than the transactions that are carried out as part of Company''s normal lending business:

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 -

(a) 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

(b) 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 -

(a) 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

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

(vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the
current financial year and previous year.

(vii) There are no transactions which have not been recorded in the books of accounts and has
been surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961. Also, there are no previously unrecorded income and related assets.

(viii) There are no investment property as on March 31, 2025 and March 31, 2024.

(ix) The Company does not have any Capital Work in Progress as at the end of the current or
previous year.

(x) The Company has not entered into any Scheme of Arrangements which requires the approval
of the Competent Authority in terms of sections 230 to 237 of the Companies Act,2013 for
the financial years ended March 31, 2025, and March 31, 2024.

45 Previous year figures have been regrouped / rearranged, wherever considered necessary, to
conform to the classification / disclosure adopted in the current year.

In terms of our report of even date attached

For PKF Sridhar & Santhanam LLP

Chartered Accountants

ICAI Firm''s Registration No.003990S/S200018

For and on behalf of Board

„„„ , , (Sanjay Kumbhat) (Sarika Kumbhat)

T V Balasubramanian '' .

Managing Director Director

Partner DIN : 03077193 DIN : 08032091

M. ^N°. ⁰²⁷²⁵¹ V. Premalatha S. Mohanraj

UDIN : 25027251BMIAEA7379 Chief Financial Officer Company Secretary

Place: Chennai
Date : 23-05-2025

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Mar 31, 2024

1.10. Provisions and contingent liabilities
Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, and it is probable that the Company will be required to settle the obligation, and a
reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the
present obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation. When a provision is measured using the cash flows estimated to settle the
present obligation, its carrying amount is the present value of those cash flows (when the effect of the
time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered
from a third party, a receivable is recognised as asset if it is virtually certain that reimbursement will be
received and the amount of the receivable can be measured reliably.

Contingent Liabilities

A disclosure for contingent liabilities is made where there is:

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 1). it is not probable
that an outflow of resources embodying economic benefits will be required to settle the obligation or
2). the amount of the obligation cannot be measured with sufficient reliability.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each reporting
period.

1.11. Foreign currency translation

The Company''s financial statements are presented in Indian Rupee, which is also the Company''s
functional currency.

Initial recognition

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency
amount the exchange rate between the reporting currency and the foreign currency at the date of the
transaction.

Conversion

Foreign currency monetary items are re-translated using the exchange rate prevailing at the reporting
date. Non- monetary items, which are measured in terms of historical cost denominated in a foreign
currency, are reported using the exchange rate at the date of the transaction.

Exchange differences

All exchange differences are accounted in the Statement of Profit and Loss.

During the year, there are no foreign currency transactions.

1.12. Employee benefits

Short term Employee benefits

Short term employee benefits for services rendered by employees are recognised during the period
when the services are rendered.

Post Employment benefits

As the number of persons employed by the Company on roll fall below the limits (at any point of time
during the year) prescribed Employee Provident Fund Act, 1952 and Employee State Insurance Act,
1948 the Company is not covered under the said Acts and hence no obligation arises on the part of the
Company to contribute for the post employments benefit funds as per the respective acts.

Likewise the Company is not covered by Payment of Gratuity Act, 1972 as it doesn''t have number
employees beyond the threshold limit. Hence the Company is not required to carry out actuarial
valuation for the Gratuity liabilities and make provisions accordingly. However the Company, for the sake
of the employee benefits, is making provisions for Gratuity at the rate prescribed under the Payment
of Gratuity Act, 1972 and the estimations are made on the basis of number of years served by the
employee consecutively for a period more than 5 years.

1.14 Earnings Per Share:

Basic earnings per share is calculated by dividing profit/(loss) for the year attributable to ordinary
equity holders of the Company (the numerator) by the weighted average number of ordinary shares
outstanding (the denominator) during the period.

Diluted earnings per share is computed by dividing the profit/ (loss) for the year attributable to equity
holders of the Company by the weighted average number of equity shares considered for deriving basic
earnings per share and the weighted average number of equity shares which could have been issued on
the conversion of all dilutive potential equity shares.

Note No.: 22

Additional information pursuant to Schedule III to the Companies Act, 2013 are follows:

A No proceedings have been initiated or pending against the company for holding any benami property
under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the Rules made thereunder.

B The company has not been declared wilful defaulter by any bank or financial institution or other lender.

C The company has not entered into any transactions with companies struck off under section 248 of the

Companies Act, 2013 or section 560 of the Companies Act, 1956.

D The company does not have any transaction which it had/has not recorded in the books of accounts that

has been surrendered or disclosed as income during the year in the tax assessments under the Income
Tax Act, 1961

E The company has not traded/invested in Crypto Currency or Virtual Currency during the financial year.

F Title deeds pertaining to the immovable properties disclosed in the financial statements are held in the

name of the company.

G There are no transactions and / or balance outstanding with companies struck off under section 248 of
the Companies Act, 2013.

H The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding that the 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) provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

I 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 Group 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) provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

J The company does not have any investments through more than two layers of investment companies as
per section 2(87) (cd) and section 186 of Companies Act, 2013.

Note No.: 23

Prior year comparatives have been regrouped wherever necessary to confirm to current year''s
classification.

As per our report of even date For and on behalf of the Board

Mardia & Associates

CHARTERED ACCoUNTANTS [Sanjay Kumbhat] [Sarika Kumbhat]

Firm Registration Number : 007888S Managing Director Director

Manish Mardia

Proprietor [V.Premalatha] [S Mohanraj]

M.No : 205307 Chief Financial officer Company Secretary

UDIN :24205307BKATRG2126

Place : Chennai
Date : 22.05.2024

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Mar 31, 2014

1 CONTINGENT LIABILITIES AND COMMITMENTS:

1.1 CONTINGENT LIABILITES

Claims against the company not acknowledged as debts Nil Nil

1.2 COMMITMENTS:

a. Estimated amount of Contracts remaining to be executed on capital account not provided for Nil Nil

b. Other commitments Nil Nil

2 EMPLOYEE BENEFITS OBLIGATIONS

2.1 Defined Contribution Plans :

The benefits of the defined contribution plan in the form of provident fund is not applicable to , the company

2.2 Defined Benefit Plans :

The net value of the defined benefit commitment is detailed below:

The company has not created any fund into which contributions are made. Hence furnishing of information on Return on Plan Assets does not arise

Actuarial Calculations used to Estimate defined benefit commitments and expenses are based on the following assumptions, which if charged, would affect the defined benefit commitment''s size.

3. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act, 1956 is not applicable to the Company.

4. INFORMATION IN RESPECT OF OPENING STOCK, PURCHASES, SALES AND CLOSING STOCK OF SHARES TRADED IN :

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Mar 31, 2012

1. CONTINGENT LIABILITIES AND COMMITMENTS:

1.1 CONTINGENT LIABILITES

Claims against the company not acknowledged as debts Nil Nil

2.2 COMMITMENTS:

a. Estimated amount of Contracts remaining to be executed on capital account not provided for Nil Nil

b. Other commitments Nil Nil

21 EMPLOYEE BENEFITS OBLIGATIONS

3.1 Defined Contribution Plans :

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company

4.2 Defined Benefit Plans :

The company offers its employees defined benefit plans in the form of gratuity ( a lump sum amount). Benefits under the defined benefit plans are based on the years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme, commitments are actuarially determined at the year end. on adoption of the revised Accounting Standards (AS 15) on "Employees Benefits" notified under the companies (Accounting standards) Rules, 2006, actuarial valuation is done based on "Project Unit Credit Method". Gains and Loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized

2. Figures for the Previous period have been regrouped/ rearranged wherever necessary.

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Mar 31, 2011

1. Contingent Liabilities. : Nil

2. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act, 1956 is not applicable to the Company.

3. Employee benefits Obligations:

(i) Defined contribution plans:

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company.

(ii) Defined Benefit Plans:

The company offers its employees defined benefit plans in the form of gratuity (a lump sum amount). Benefits under the defined benefit plans are based on years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme. Commitments are actuarially determined at year end. On adoption of the revised

Accounting

Standard (AS 15) on "Employee Benefits" notified under the Companies (Accounting Standards) Rules, 2006, actuarial valuation is done based on "Projected Unit Credit Method". Gains and loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized.

The Institute of Chartered Accountants of India, in May 2007 released its Guidance on the implementation of the Revised Accounting Standard on 'Employee Benefits" (AS 15 Revised 2005). The present value of the obligation, Actuarial assumptions and its charge to the Profit & Loss Account and has been adopted by the company in the financial year 2010-11.

4. Figures for the previous period have been regrouped / rearranged wherever necessary.

5. Figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. Contingent Liabilities. : Nil

2. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act. 1956 is not applicable to the Company.

3. Employee benefits Obligations:

(i) Defined contribution plans:

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company

(ii) Defined Benefit Plans:

The company offers its employees defined benefit plans in the form of gratuity (a lump sum amount). Benefits under the defined benefit plans are based on years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme. Commitments are actuarially determined at year end. On adoption of the revised Accounting

Standard (AS 15) on "Employee Benefits" notified under the Companies (Accounting Standards) Rules, 2006. actuarial valuation is done based on "Projected Unit Credit Method". Gains and loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized.

The Institute of Chartered Accountants of India, in May 2007 released its Guidance on the implementation of the Revised Accounting Standard on Employee Benefits" (AS 15 Revised 2005) The present value of the obligation. Acturial assumptions and its charge to the Profit & Loss Account and has been adopted by the company in the financial year 2009-10.

4. Figures for the previous period have been regrouped / rearranged wherever necessary.

5. Figures have been rounded off to the nearest rupee.