Notes to Accounts of Multiplus Holdings Ltd.

Mar 31, 2024

2.13 Accounting for provisions and contingent liabilities

Provisions are recognised in the balance sheet when the Company has a
present obligation 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. The expense relating to any provision is presented
in the statement of profit and loss net of any reimbursement.

Contingent liabilities are not recognised in the financial statements.
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 the obligation or a reliable estimate of
the amount cannot be made.

2.14 Income Tax

Income tax expense comprises both current and deferred tax.

Current and deferred taxes are recognised in the statement of profit and
loss, except when they relate to items credited or debited either in other
comprehensive income or directly in equity, in which case the tax is also
recognised in other comprehensive income or directly in equity.

Current income-tax is recognised at the amount expected to be paid to the
tax authorities, using the tax rates and tax laws, enacted or substantially
enacted as at the balance sheet date.

Taxable profit differs from net profit as reported in the Standalone
statement of profit and loss because it excludes items of income or
expense that are taxable or deductible in other years and it further excludes
items that are never taxable or deductible.

The Company has opted to pay tax according to the New Section 115BAA
of the Income Tax Act, 1961.

2.15 Revenue recognition

The Company recognizes revenue when the same can be reliably
measured, it is probable that future economic benefits will flow to the
Company and specific criteria have been met for each of the Company’s
activities.

Interest Income & Dividend Income

Interest income is recognized on time proportion basis taking into account
the amount invested and rate of interest. Dividend income is recognized
when the Company’s right to receive dividend is established by the
Balance Sheet date, it is probable that the economic benefits associated
with the dividend will flow to the Company, and the amount of the
dividend can be measured reliably.

2.16 Segment reporting

Pursuant to IndAS 108 - Operating Segments, no segment disclosure has
been made in these financial statements, as the Company has only one
geographical segment and no other separate reportable business segment.

2.17 Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss
for the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period. Earnings
considered in ascertaining the Company’s earnings per share is the net
profit for the period after deducting preference dividends and any
attributable tax thereto for the period. The weighted average number of
equity shares outstanding during the period and for all periods presented is
adjusted for events, such as bonus shares, sub-division of shares etc. that
have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating diluted
earnings per share, the net profit or loss for the period attributable to
equity shareholders is divided by the weighted average number of equity
shares outstanding during the period, considered for deriving basic
earnings per share and weighted average number of equity shares that
could have been issued upon conversion of all dilutive potential equity
shares.

FAIR VALUE DISCLOSURES

The company uses the following hierarchy for determining and disclosing the fair
value of financial instruments by valuation technique:

The categories used are as follows:

• Level 1: This hierarchy includes financial instruments measured using quoted
prices. This includes listed equity instruments and liquid mutual
funds that have quoted price.

• Level 2: The fair value of financial instruments that are not traded in an active

market is determined using valuation techniques which maximize the
use of observable market data and rely as little as possible on entity-
specific estimates. If all significant inputs required to fair value an
instrument are observable, the instrument is included in level 2; and

* Level 3: If one or more of the significant inputs is not based on observable

market data, the instrument is included in level 3.

Investments in Equity of Unlisted Companies are measured at cost as per the
company’s policy, judgments, estimates and availability for Sale of investments.
Since the company is a minority shareholder in the said unlisted companies
holding less than 20% Stake of the total share capital of the said unlisted
companies data for using any fair valuation techniques is unavailable with the
company and the company has decided to value the same at Cost plus transaction
cost.

Investments in Perpetual Bonds are measured at transaction costs of acquisition as
per the companies’ judgments, estimates and availability for Sale of investments.
Since the maturity date of the bonds is not available as informed to us by the
management and fair market value as on the date of Balance Sheet cannot be
reliably measured the Management has decided to value it at cost in the financial
accounts.

The carrying value of all the financials assets and financial liabilities are
reasonable approximation of their fair values. Accordingly the fair values of such
financial assets and liabilities have not been disclosed separately.

¦. IndAS 115 and IndAS 116

The Company does not have any income from any contract with customers of the
nature referred to in IndAS 115 on Revenue from Contracts with Customers and
therefore requirements of IndAS 115 is not applicable to the Company.

The Company has not entered into any significant leasing arrangements during
the year and therefore requirements of IndAS 116 on Leases is not applicable to
the Company.

5. OTHER STATUTORY INFORMATION

i. The Company does not have any Benami property and no proceeding has been
initiated or is pending against the Company for holding any Benami property.

ii. The Company does not have any charges or satisfaction which is yet to be
registered with ROC beyond the statutory period.

iii. The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year.

iv. No funds have been advanced or loaned or invested (either from borrowed funds
or share premium or any other sources or kind of funds) by the Company to or in
any other persons or entities, 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 (“Ultimate Beneficiaries”) by
or on behalf of the Company or

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

v. The Company has not received any fund from any person(s) or entity (is),
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 does not have any transaction which is 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 such as, search or survey or any
other relevant provisions of the Income Tax Act, 1961.

vii. The Company is not declared as willful defaulter by any bank or financial
institution (as defined under the Companies Act, 2013) or consortium thereof or
other lender in accordance with the guidelines on willful defaulters issued by the
Reserve Bank of India.

viii. Provision for Compliance with number of layers of companies is not applicable as
the company is neither a holding company nor subsidiary company of any other
companies.

ix. The Company has not revalued any of its Property, Plant and Equipment
(including Right-of-Use Assets) during the year.

x. Micro, Small and Medium Enterprises Development Act, 2006 :

The information as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 has been determined to the extent such parties
have been identified on the basis of information available with the Company.

xi. The Company does not have any long-term contracts including derivative
contracts for which there would be any material foreseeable losses.

xii. No schemes of arrangements have been approved by the Competent Authority in
terms of sections 230 to 237 of the Companies Act, 2013.

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

5. OTHER NOTES ON ACCOUNTS :-

01. Estimated amount of contracts remaining to be executed on capital
account not provided for- NIL.

02. The company is not liable to pay any gratuity.

03. Payment and provisions for payment to Auditors:

(a) Audit Fees Rs 70800/-

04. Expenditure incurred on employees who were in receipt of remuneration
in the aggregate at the rate of not less than Rs.60.00 Lacs per year. NIL

05. Expend iture in foreign Currency - NIL

06. Earning in Foreign Exchange - NIL

07. Directors’ remuneration 8,00,000/-

08. Ratios:-

09. Previous year’s figures have been regrouped wherever necessary for the
comparative purposes.

FOR M/S DGMS AND COMPANY Sd/- Sd1-

CHARTERED ACCOUNTANTS (jignesh sheth) (jayprakash sheth)

Managing Director Director

FIRM REGN. NO. 112187W D!N:00290211 DIN:02037108

Sd/- Sd/-

(ATUL DOSH1) (MAHESH FULPADIA) (JYOTIAGARWAL)

PARTNER Chief Financial Officer Company Secretary

M.No. 102585 DIN:- -06831517

MUMBAI, 29^th MAY,2024. MUMBAI, 29^lh MAY,2024.

UDIN:- 24102585BJZYEY2434

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Mar 31, 2014

1. BACKGROUND

Multiplus Holdings Limited (''the Company'') was incorporated as Amit Holdings Limited on February 24, 1982 , Which was changed to Multiplus Holdings Limited on February 2, 1993 . The Company has been set up primarily with the objective of carrying on the business of a Finance company and carries on business of Investments, trading in shares.

2. Additional information pursuant to the provision of paragraph 3 and 4 in Part II of Schedule VI of the Companies Act, 1956 (As certified by the Directors and accepted by the Auditors without verification)

i) As the company is not a manufacturing company the provisions of paragraph 4C are not applicable.

3. Segment Information for the year ended 31st March, 2014

The company operates in a single segment, viz. Investment and derivatives trading in shares hence Segmental Reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable

4. Related party information as identified by the management as per Accounting Standard 18 on Related Party Disclosure issued by the Institute of Chartered Accountants of India

5. Previous Year Comparatives

The prior year amounts have been reclassified, wherever necessary, to confirm to current year''s presentation.

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Mar 31, 2013

1. BACKGROUND

Multiplus Holdings Limited (''the Company'') was incorporated as Amit Holdings Limited on February 24, 1982 , Which was changed to Multiplus Holdings Limited on February 2, 1993. The Company has been set up primarily with the objective of carrying on the business of a Finance company and carries on business of Investments, trading in shares.

2.1 Additional information pursuant to the provision of paragraph 3 and 4 in Part II of Schedule VI of the Companies Act, 1956 (As certified by the Directors and accepted by the Auditors without verification)

i) As the company is not a manufacturing company the provisions of paragraph 4C are not applicable.

ii) Provisions of para 4D

2.2 Segment Information for the year ended 31st March, 2013

The company operates in a single segment, viz. Investment and derivatives trading in shares hence Segmental Reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable

2.3 Related party information as identified by the management as per Accounting Standard 18 on Related Party Disclosure issued by the Institute of Chartered Accountants of India

List of related Parties

Key Management Personnel : - Mr. Jignesh R. Sheth -Director

Mr. Jayprakash R Sheth - Director

Mr. Rajiv Kamdar - Independent Director

Mr. Kalpesh Doshi - Independent Director

2.4 Previous Year Comparatives

The prior year amounts have been reclassified, wherever necessary, to confirm to current year''s presentation.

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Mar 31, 2012

1. BACKGROUND

Multiplus Holdings Limited ('the Company') was incorporated as Amit Holdings Limited on February 24, 1982, Which was changed to Multiplus Holdings Limited on February 2, 1993. The Company has been set up primarily with the objective of carrying on the business of a Finance company and carries on business of Investments, trading in shares.

1.1 Additional information pursuant to the provision of paragraph 3 and 4 in Part II of Schedule VI of the Companies Act, 1956 (As certified by the Directors and accepted by the Auditors without verification)

i) As the company is not a manufacturing company the provisions of paragraph 4C are not applicable.

1.2 Segment Information for the year ended 31st March, 2012

The company operates in a single segment, viz. Investment and derivatives trading in shares hence Segmental Reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable

1.3 Related party information as identified by the management as per Accounting Standard 18 on Related Party Disclosure issued by the Institute of Chartered Accountants of India

List of related Parties

Key Management Personnel:

Mr. Jignesh R. Sheth - Director

Mr. Jayprakash R. Sheth - Director

Mr. Rajiv Kamdar - Independent Director

Mr. Kalpesh Doshi - Independent Director

1.4 Previous Year Comparatives

The prior year amounts have been reclassified, wherever necessary, to confirm to current year's presentation.

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Mar 31, 2010

1. BACKGROUND

Multiplus Holdings Limited (the Company) was incorporated as Amit Holdings Limited on February 24, 1982 , Which was changed to Multiplus Holdings Limited on February 2, 1993. The Company has been set up primarily with the objective of carrying on the business of a Finance company and carries on business of Investments, trading in shares.

2. Segment Information for the year ended 31st March, 2010

The company operates in a single segment, viz. Investment and derivatives trading in shares hence Segmental Reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable

2.1 Related party information as identified by the management as per Accounting Standard 18 on Related Party

Disclosure issued by the Institute of Chartered Accountants of India

List of related Parties

Key Management Personnel: -

Mr. Jignesh R. Sheth - Director

Mr. Jayprakash R Sheth - Director

Mr. Rajiv Kamdar - Independent Director

Mr. Kalpesh Doshi - Independent Director

2.2 Previous Year Comparatives

The prior year amounts have been reclassified, wherever necessary, to confirm to current years presentation.

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Mar 31, 2002

GENERAL:

1. Accounting policies not specifically referred to are consistent with generally accepted Accounting practices.

2. As the Company is not engaged in any manufacturing activities the additional information pursuant to part II to schedule VI of the Companies Act, 1956 has been furnished to the extent applicable.

3. Previous years figures have been regrouped / recast whenever necessary.