Notes to Accounts of Libord Securities Ltd.

Mar 31, 2024

3.5 Provisions, Contingent Liabilities, Contingent Assets and Commitments:

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 outflow 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. Provisions are reviewed at each Balance Sheet date and are adjusted
to reflect the current best estimate. Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future
events not wholly within the control of the Company or a present obligation that arises from past events where it is either not
probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.
Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not recognised.
However, when the realisation of income is virtually certain, then the related asset is no longer a contingent asset, but it is
recognised as an asset.

3.6 Revenue Recognition and Other Income:

All expenses and income to the extent payable or receivable respectively are accounted for on accrual basis.

3.7 Employee Benefits:

Defined Benefit Plans: The present value of the obligation under such plan, is determined based on an actuarial valuation
using the Projected Unit Credit Method. Actuarial gains and losses arising on such valuation are recognised immediately in
the Profit & Loss Account. In case of funded defined benefit plans, the fair value of the plan assets is reduced from the gross
obligation under the defined benefit plans, to recognise the obligation on net basis.

3.8 Taxes on Income:

Income tax expense represents the sum of current tax and deferred tax. Tax is recognised in the Statement of Profit and
Loss, except to the extent that it relates to items recognised directly in equity or Other Comprehensive Income, in such cases
the tax is also recognised directly in equity or in Other Comprehensive Income. Any subsequent change in direct tax on
items initially recognised in equity or Other Comprehensive Income is also recognised in equity or Other Comprehensive
Income.

Current tax provision is computed for income calculated after considering allowances and exemptions under the provisions
of the applicable Income Tax Laws. Current Tax Assets and Current Tax Liabilities are off set, and presented as net.

Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance Sheet and
the corresponding tax bases used in the computation of taxable profit. Deferred Tax Liabilities are generally recognised for
all taxable temporary differences, and Deferred Tax Assets are generally recognised for all deductible temporary differences
to the extent that it is probable that future taxable profits will be available against which those deductible temporary
differences can be utilised. Deferred Tax Assets and Liabilities are measured at the applicable tax rates. The carrying amount
of Deferred Tax Assets is reviewed at each Balance Sheet date and reduced to the extent that it is no longer probable that
sufficient taxable profits will be available against which the temporary differences can be utilised.

3.9 Earnings Per Share:

Basic earnings per share is computed using the net profit for the year attributable to the shareholders’ and weighted average
number of equity shares outstanding during the year. Diluted earnings per share is computed using the net profit for the year
attributable to the shareholders’ and weighted average number of equity and potential equity shares outstanding during the
year. Potential equity shares that are converted during the year are included in the calculation of diluted earnings per share,
from the beginning of the year or date of issuance of such potential equity shares, to the date of conversion.

3.10 Current and Non-Current Classification:

The Company presents assets and liabilities in statement of financial position based on current/non-current classification.
The Company has presented non-current assets and current assets before equity, non-current liabilities and current liabilities
in accordance with Schedule III, Division II of Companies Act, 2013 notified by MCA. An asset is classified as current when
it is: a) Expected to be realised or intended to be sold or consumed in a normal operating cycle, b) Held primarily for the
purpose of trading, c) Expected to be realised within twelve months after the reporting period, or d) Cash or cash equivalent
unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All
other assets are classified as non-current.

A liability is classified as current when it is: a) Expected to be settled in a normal operating cycle, b) Held primarily for the
purpose of trading, c) Due to be settled within twelve months after the reporting period, or d) There is no unconditional right
to defer the settlement of the liability for at least twelve months after the reporting period. All other liabilities, if any, are
classified as non-current. The operating cycle is the time between the acquisition of assets for processing and their
realisation in cash or cash equivalents. Deferred Tax Assets and Liabilities are classified as non-current assets and liabilities.
The Company has identified twelve months as its normal operating cycle.

3.11 Fair Value Measurement:

The Company measures financial instruments at fair value at each Balance Sheet date. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer
the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which
sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use
of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are
categorised within the fair value hierarchy.

3.12 Off-setting Financial Instrument:

Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet where there is a legally
enforceable rights to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and
settle the liability simultaneously. The legally enforceable rights must not be contingent on future events and must be
enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or
counterparty.

3.13 Segment Reporting:

The Company is engaged primarily in the business of financial services and accordingly there are no separate reportable
segment dealing with Segment Reporting. The Company’s business is not subject to seasonal variation.

31.2 Fair Valuation Techniques used to determine Fair Value

The Company maintains procedures to value financial assets or financial liabilities using the best and most relevant data
available. The fair values of the financial assets and liabilities are included at the amount that would be received to sell an
asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values:

i) Fair value of trade receivable, cash and cash equivalents, other bank balances, trade payables, loans, borrowings, deposits
and other financial assets and liabilities are approximate at their carrying amounts largely due to the short-term maturities
of these instruments.

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

iii) Fair values of quoted financial instruments are derived from quoted market prices in active markets.

31.3 Fair Value Hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation
techniques: -

i) Level 1: Quoted prices in active markets for identical assets or liabilities. It includes fair value of financial instruments traded
in active markets and are based on quoted market prices at the Balance Sheet date.

ii) Level 2: Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly
(that is, as prices) or indirectly (that is, derived from prices). It includes fair value of the financial instruments that are not
traded in an active market (for example, over-the-counter derivatives) is determined by using valuation techniques. These
valuation techniques maximise the use of observable market data where it is available and rely as little as possible on the
Group specific estimates. If all significant inputs required to fair value an instrument are observable then the instrument is
included in Level 2.

iii) Level 3: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). If one
or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.

The following table provides hierarchy of the fair value measurement of the Company’s asset and liabilities, grouped into
Level 1 (Quoted prices in active markets), Level 2 (Significant observable inputs) and Level 3 (Significant unobservable
inputs) as described below:

Note 32 Financial Risk Management

The Company is exposed to market risk, credit risk and liquidity risk. Risk management is carried out by the Company under
policies approved by the Board of Directors. This Risk management plan defines how risks associated with the Company will
be identified, analysed, and managed. It outlines how risk management activities will be performed, recorded, and monitored
by the Company. The basic objective of risk management plan is to implement an integrated risk management approach to
ensure all significant areas of risks are identified, understood and effectively managed, to promote a shared vision of risk
management and encourage discussion on risks at all levels of the organisation to provide a clear understanding of risk/benefit
trade-offs, to deploy appropriate risk management methodologies and tools for use in identifying, assessing, managing and
reporting on risks, and to determine the appropriate balance between cost and control of risk and deploy appropriate resources
to manage/optimise key risks. Activities are developed to provide feedback to management and other interested parties (e.g.
Audit committee, Board etc.). The results of these activities ensure that risk management plan is effective in the long term.

Note 33 The Company is engaged primarily in the business of Financial Services and accordingly, there are no separate reportable
segments dealing with Segment Reporting. The Company’s business is not subject to seasonal variation.

Note 34 Figure of previous year have been regrouped/ rearranged wherever necessary and possible.

Note 35 Investment in Quoted Equity Instruments have been recognised at Fair Value through Other Comprehensive Income. The
Effect of Deferred Tax Assets of Rs. 1.52 Lakhs on Fair Value Loss has been adjusted with the Fair Value of Investment in
Note No. 5.

Note 36 The Payment of Gratuities Act does not apply on the Company due to less number of employees. Hence, actuarial valuation
has not been obtained and provided as per Ind AS 19.

Note 39 The Company has not received any specific details of vendor’s status under the Micro, Small and Medium Enterprises
Development Act, 2006 (‘MSME Act’). The Company contends that no overdue amounts along with interest have been
payable to enterprise covered under MSME Act and generally payments are made to vendors within the stipulated
time/agreed credit terms. During the year, the Company has not paid any interest in terms of the section 18 of the above
mentioned Act.

Note 40 During the Financial Year, the Company has not defaulted on any payment to Bank / Financial Institution on the borrowed
funds (including OD/CC facility). As a result of which the Company has not been adjudged as Wilful Defaulter by any
Bank / Financial Institution.

Note 41 There is no Benami Property Transaction undertaken by the Company and also there are no proceedings against the
Company for holding any Benami Property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the
Rules made thereunder.

Note 42 During the year, the Company has not traded or invested in any Crypto Currency or Virtual Currency.

Note 43 During the year, the Company has periodically reviewed its vendors and no information was obtained on the said review

regarding that any company has been struck off under section 248 of Companies Act, 2013 or section 560 of Companies
Act, 1956.

Note 44 The Service Tax Department has raised the demand for Rs. 5,987.52 hundreds for the year 2015-16 against which the
Company has filed the Appeal before the Commissioner Appeal I CGST & Central Excise and has deposited Rs. 515.16
hundreds.

Note 45 There is no transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income
during any tax assessments under the Income Tax Act, 1961.

Note 46 During the year, the Company has not borrowed funds from Bank / Financial institution.

Note 47 During the year, the Property, Plant or Equipment has not been revalued.

Note 48 The balances of Trade Receivables/ Payables/ Short term loans and advances are subject to confirmation and
reconciliation thereof, if any.

Note 49 There are no registration or satisfaction of charges registered at the ROC nor there are any registration or satisfaction of
charges pending to be registered with the ROC, accordingly, the said disclosure is not applicable.

In terms of our report attached of even date For and on behalf of the Board of Directors

For Mehta Singhvi & Associates Mr. Lalit Kumar Dangi - Director

Chartered Accountants DIN : 00886521

ICAI Firm Registration No. 122217W

Mr. Nawal Agrawal - Director
DIN : 01753155

Rajendra C. Singhvi Mr. Ramesh Kumar Jain - CFO and Director

Partner DIN : 01682905

Membership No. 016884

Place : Mumbai Ms. Nisha Joly Machingal

Date : 23.05.2024 Company Secretary & Compliance Officer

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Mar 31, 2015

1. In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

2. Pursuant to Transitional Provisions prescribed in Schedule II to the Companies Act 2013, The Company has adjusted an amount of Rs 1.10 lakhs against the opening Balance in the statement of Profit & Loss under Reserves & Surplus.

3. The balances of certain trade receivable / payable, short terms loans and advances are subject to confirmation & reconcilation thereof, if any.

4. RELATED PARTY DISCLOSURE

(As Identified & Certified by The Management of Company)

(1) As per Accounting Standard 18, the disclosures of transactions with the related parties are given below:

a) Parties Where control exist : Nil

b) Key Managerial Personnel :

Lalit Kumar Dangi Chief Executive Officer Ramesh Kumar Jain Chief Financial Officer

c) Other Parties with Whom the Company has entered into transaction or not during the year : (i) Libord Finance Limited

(ii) Libord Consultants Limited

(iii) Libord Exports Private Limited

(iv) Neha System Services Private Limited

(v) Vikrmaditya Trading Limited

(vi) Libord Advisors Private Limited

(vii) Libord Stock Brokers Private Limited

(viii) Libord Asset Reconstruction Company Private Limited

(ix) Libord Commodity Futures Private Limited

(x) Vee Global Financial Services Private Limited

5. The figures of the previous years have been regrouped / rearranged wherever necessary. The company has compiled the above accounts based on the revised/modified schedule III applicable for the accounting period 2014-2015. The disclosure requirements are made in the notes to accounts or by way of additional statements. The other disclosures as required by the Companies Act, 2013, are made in the notes to accounts.

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Mar 31, 2014

1. CONTINGENT LIABILITIES Currency : Indian Rupee)

March 31, March 31, 2014 2013 Corporate Guarantees given to financial Institutions against

credit facilities extended to other bodies corporate - -

2. Balances of Sundry Debtors,Sundry Creditor and Loans and advances are subject to confirmation, reconciliation and concequential adjustments,if any.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under infidelity of Employee Policy.The insurance Company has rejected the claim for which the Company has filed a case before the Maharasthra State Dispute Redressal Commission.The Case is pending for final hearing. However, during the year management has appropriated the said amount as provision for bad and doubtful debts.

4. Previous year figures have been regrouped / rearranged wherever necessary.

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Mar 31, 2013

March 31, 2013 March 31, 2012 Rupees Rupees

1. Contingent Liabilities

Corporate Guarantees given to financial Institutions against - - credit facilities extended to other bodies corporate

2. Expenditure incurred on employees during the year who were in- receipt of Rs. 24,00,000 p.a. or Rs. 2,00,000 per month, if employed for part of the year

3. Imports calculated on CIF basis

4. Expenditure in foreign currency

5. Earnings in Foreign currency on FOB basis

6. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under infidelity of Employee Policy.The insurance Company has rejected the claim for which the Company has filed a case before the Maharasthra State Dispute Redressal Commission.The Case is pending for final hearing.

7. Balances of Sundry Debtors,Sundry Creditor and Loans and advances are subject to confirmation, reconciliation and concequential adjustments,if any.

8. Related Party Disclosure

(As identified & Certified by The Management Of Company)

(1)Relationship:

a)Parties Where control exist: Nil

b)Other Parties with Whom the Company has entered into transaction or not during the year - Associates

1 Libord Finance Limited

2 Libord Consultants Limited

3 Libord Export Private Limited

4 Neha System Service Private Limited

5 Vikrmaditya Trading Co. Limited

6 Libord Advisors Private Limited

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Mar 31, 2011

1. Contingent Liabilities not provided for: -NIL

2. a) Sundry debtors include overdue debts of Rs.2,98,35,891 /-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) A sum of Rs.15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs. 10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected Llbord Securities Limited believes In good Corporate Governance which results In Corporate excellence and attaining maximum level of transparency disclosures, accountability and equity in all its interaction with its Shareholders. Your Company continued to recognize the Importance of Corporate Governance to ensure fairness of the Shareholders. Corporate Governance envisages disclosures on various facets of Company's operations to achieve corporate excellence. The Company continued to shares with you from time to time various information through public notices, press releases and through Annual Reports. In addition, we give below the Information on areas covered under Corporate Governance.

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Mar 31, 2010

1. Contingent Liabilities not provided for - NIL

2. a) Sundrydebtors include overdue debts of Rs.3,41,85,891/-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) Loans and advances include overdue amounts aggregating to Rs.58,55,341/-.The management has taken suitable measures including filing legal cases etc. and is hopeful of recovering the same.

c) A sum of Rs. 15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected the claim for which the Company has filed a case before the Maharashtra State Dispute Redressal Commission. The case is pending for final hearing.

4. Balances of Sundry Debtors, Sundry Creditors and Loans and advances are subject to confirmation, reconciliation and consequential adjustments, if any.

5. The Company has complied revised AS-15 in respect of provision of Gratuity in the books for the previous year as well as for the current year.

6. The figures of the previous year have been regrouped / rearranged wherever considered necessary. Signatures to Schedules 1 to 13.

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Mar 31, 2009

1. Contingent Liabilities not provided for. - NIL

2. a) Sundry debtors include overdue debts of Rs.3,80,86,142/-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) Loans and advances include overdue amounts aggregating to Rs.58,55,341/-.The management has taken suitable measures including filing legal cases etc. and is hopeful of recovering the same.

c) A sum of Rs. 15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected the claim for which the Company has filed a case before the Maharashtra State Dispute Redressal Commission. The case is pending for final hearing.

4. Balances of Sundry Debtors, Sundry Creditors and Loans and advances are subject to confirmation, reconciliation and consequential adjustments, if any.

5. The Company has complied revised AS-15 in respect of provision of Gratuity in the books for the previous year as well as for the current year.

6. The figures of the previous year have been regrouped / rearranged wherever considered necessary.