Notes to Accounts of My Money Securities Ltd.

Mar 31, 2024

i) Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of past event, it is probable that an outflow of resources will be required to settle the said obligation, and the amounts of said obligation can be reliably estimated.

j) Contingencies

A disclosure for contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

k) Borrowing Costs

Borrowing costs consist of interest and other ancillary costs that the Company incurs in connection with the borrowing of funds. The borrowing costs directly attributable to the acquisition or construction of any asset that takes a substantial period of time to get ready for its intended use or sale are capitalised. All the other borrowing costs are recognised in the statement of profit and loss within finance costs of the period in which they are incurred.

l) Foreign Currency Transactions and Balances

Transactions in foreign currencies are initially recorded in the relevant functional currency at the exchange rate prevailing at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into functional currency at the closing exchange rate prevailing as at the reporting date with the resulting foreign exchange differences, on subsequent re-statement / settlement, recognised in the Statement of Profit and Loss. Non - Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate prevalent, at the date of initial recognition (in case they are measured at historical cost) or at the date when the fair value is determined (in case they are measured at fair value) - the resulting foreign exchange difference, on subsequent restatement / settlement, recognised in the Statement of Profit and Loss, except to the extent that it relates to items recognised in the other comprehensive income (‘OCI’) or directly in equity. The equity items denominated in foreign currencies are translated at historical cost.

m) Leases Company as lessee

The Company recognises a ROU and a corresponding lease liability with respect to all lease agreements in which it is the lessee in the Balance Sheet. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the incremental borrowing rate (as the rate implicit in the lease cannot be readily determined). Lease liabilities include the net present value of fixed payments (including any in-substance fixed payments) and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.

Subsequently, the lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments including or when the lease contract is modified and the lease modification is not accounted for as a separate lease. The corresponding adjustment is made to the carrying amount of the ROU, or is recordedin profit or loss if the carrying amount of the related ROU has been reduced to zero and there is a further reduction in the measurement of the lease liability.

ROU are measured at cost, comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commencement date and any initial direct costs less any lease incentives received.

Subsequent to initial recognition, ROU are stated at cost less accumulated depreciation and any impairment losses and adjusted for certain remeasurements of the lease liability. Depreciation is computed using the straight-line method from the commencement date to the end of the useful life of the underlying asset or the end of the lease term, whichever is shorter. The estimated useful lives of ROU are determined on the same basis as those of the underlying asset. In the Balance Sheet, the ROU and lease liabilities are presented separately. In the Statement of Profit and Loss, interest expense on lease liabilities are presented separately from the depreciation charge for the ROU.

Short-term leases and leases of low value assets

The Company has elected not to recognise ROU and lease liabilities for short term leases that have a lease term of twelve months or less and leases of low value assets. The Company recognises lease payments associated with these leases as an expense on a straight-line basis over the lease term.

Company as lessor

Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

Amounts due from lessees under a finance lease are recognised as receivables at an amount equal to the net investment in the leased assets. Finance lease income is allocated to the periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the finance lease.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

n) Earnings Per Share (EPS)

The Company presents the Basic and Diluted EPS.

Basic EPS is computed by dividing the profit for the period attributable to the shareholders of the Company by the weighted average number of shares outstanding during the period.

Diluted EPS is computed by adjusting, the profit for the year attributable to the shareholders and the weighted average number of shares considered for deriving Basic EPS, for the effects of all the shares that could have been issued upon conversion of all dilutive potential shares. The dilutive potential shares are adjusted for the proceeds receivable had the shares been actually issued at fair value. Further, the dilutive potential shares are deemed converted as at beginning of the period, unless issued at a later date during the period.

1.2 Rights, Preferences and restrictions attached to Shares :

Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each Shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to approval of shareholders, except in case of Interim dividend. No Dividend has been declared during the FY23-24 and FY22-23. In the liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribtuion of all preferential amounts, in proportion of their shareholding.

The Company has issued and allotted 5,00,000 equity shares to Promoter and Promoter Group pursuant to conversion of fully convertible warrants into Equity during the FY2023-24.The Fully Convertible warrants were issued and alloted on 11.10.2021.

Preference shares

The Company has only one class of preference shares having a par value of Rs. 1000/- each and there are no preference shares issued and subscribed as on 31 March 2024 and 31 March 2023.

NOTE 33: AUDIT TRAIL

MCA vide its notification number G.S.R. 206(E) dated March 24, 2021 (amended from time to time) in reference to the proviso to Rule 3 (1) of the Companies (Accounts) Amendment Rules, 2021, introduced the requirement w.e.f. April 01, 2023, to only use such accounting software which has a feature of recording audit trail of each and every transaction.

The Company has assessed all of its IT applications including supporting applications considering the guidance provided in “Implementation guide on reporting on audit trail under rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (Revised 2024 edition)” issued by the Institute of Chartered Accounts of India in February 2024, and identified applications that are relevant for maintaining books of accounts.

During the financial year, the Company has enabled audit trail feature, in a phased manner, in certain critical applications. During such period, audit trail feature has operated effectively and there were no instances of audit trail feature being tampered with. Further, for the remaining applications, the Company is in the process of implementing audit trail feature.

NOTE 34: LEASES

The Company has entered into a lease agreement with Mr. Govind Narain Seth for a period of 9 Years for the office space used by the Company. However, the agreement is yet to be registered and the appropriate stamp duty is yet to be paid on the agreement. The Company is in the process of getting the same completed.

As the agreement is not registered and the appropriate legal formalities are pending, the Management is of the view that the same should be treated as a short-term lease, therefore ROU or Lease Obligation against the lease is not recognised in the books of accounts.

The ROU and Lease obligation will be recognised as and when the legal formalities against the lease agreement are completed.

As per our report of even date

For Sharma Goel & Co. LLP For and on behalf of the Board Of Directors

Chartered Accountants

ICAI Firm Reg. No: 000643N/N500012

Sd/- Sd/- Sd/-

Rachit Mittal Sanjai Seth Vikas Seth

Partner (Whole Time Director, C.F.O) (Managing Director)

Membership No. 524105 DIN: 00350518 DIN: 00383194

Sd/-

Place: New Delhi Anjali Chopra

Date: 30/05/2024 (Company Secretary)

UDIN: 24524105BKEPNW4732 M.No. : A17495

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Mar 31, 2018

NOTE 1:

CORPORATE INFORMATION

My Money Securities Limited is a public limited company and incorporated as under the provisions of the Companies Act, 1956. Its shares are listed on Bombay Stock Exchange (BSE Ltd.) Ahmadabad Stock Exchange, Delhi Stock Exchange and Jaipur Stock Exchange. The company is engaged in the business of dealing in shares & currency and acting as a Broker in the National Stock Exchange and Metropolitan Stock Exchange of India Ltd.

1.2 No shares out of the above were allotted for consideration other than cash in the last five years

1.3 All the shares issued carry equal voting rights

1.4 Details of Shareholders holding more than 5% of the Shares

NOTE 2:

RELATED PARTY DISCLOSURES KEY MANAGEMENT PERSONNEL

1. Sanjai Seth

2. Vikas Seth

OTHER RELATED PARTIES

1. Govind Narain Seth

The summary of transactions with above-mentioned parties is as follows:

NOTE 3:

CONTINGENT LIABILITIES a. Guarantees:

1. Bank Guarantee of Rs. 30,00,000/- is provided to National Stock Exchange (NSE) towards Base Capital. It is against 50% Margin including Fixed Deposits.

2. Bank Guarantee of Rs. 15,00,000/- is provided to Metropolitan Stock Exchange of India Ltd. towards base capital for currency segment. It is against 50% Margin including fixed deposits and shares.

3. Bank Guarantee of Rs. 10,00,000/- is provided to IL&FS Ltd. towards Margin Money Deposit for F&O Segment. It is against 50% Margin including shares.

NOTE 4:

PREVIOUS YEAR FIGURE

Previous years’ figures have been regrouped and re-arranged wherever necessary to make them comparable to the figures of the current year.

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Mar 31, 2016

NOTE : 2

CASH FLOW STATEMENT

Cash Flows are reported using the indirect method, whereas profit/(loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipt or payments. The cash flow from operating, investing and financing activities of the Company are segregated based on the available information.

Nature of security and terms of repayment of Borrowings

Nature of security Terms of Repayment

ICICI Bank Ltd. car loan of Rs. 5,06,250/- {(year end balance Repayable in 60 equated monthly Rs. 479706/- (Previous year Rs. 67371 from Canada Bank for Installments of Rs. 10732 including Maruti Swift Dzire Car)} is secured by hypothecation of Maruti Interest from date of loan (1/12/2015) Ciaz car and personal guarantee of Director

The case has been settled by the Hon''ble Settlement Commission in favour of assesse, however income tax department has applied to Hon''ble Settlement Commission for rectification of said order.

(b) Guarantees

Bank Guarantee of Rs. 75,00,000/- is provided to National Stock Exchange (NSE) towards Base Capital. It is against 50% Margin including Fixed Deposit.

Bank Guarantee of Rs. 15,00,000/- is provided to Metropolitan Stock Exchange of India Ltd. (Formally known as MCX Stock Exchange Ltd.) towards Base Capital for currency segment. It is against 50% Margin including Fixed Deposit and shares.

Bank Guarantee of Rs. 10,00,000/- is provided to IL&FS Ltd. towards Margin Money Deposit for F&O Segment. It is against 50% Margin including Shares.

2. Balance of client and Loans and advances are subject to the confirmation /reconciliation. However in the opinion of the Management, all current assets, Loans and Advances are recoverable in the ordinary course of business and would be realized in due course.

3. Disclosures of Related Party transactions

Nature of Relationship Name of Party

A) Key Managerial Personnel Mr. Sanjai Seth

Mr. Vikas Seth

B) Transaction during the year

4. Segment Reporting: The Board of Directors of the company considers and maintains “Brokerage/Commission” as the only business segment of the Company; therefore no Segment Reporting has been presented in terms of Accounting Standard - 17 of “Segmental Reporting” issued by the ICAI.

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Mar 31, 2015

1. Cash Flows are reported using the indirect method, whereas profit/(loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipt or payments. The cash flow from operating, investing and financing activities of the Company are segregated based on the available information.

2. CONTINGENT LIABILITIES

(a) No Provision has been made in the books of accounts by the company of the following demands has been raised by the Income Tax department.

Nature of the Authority & Assessment Total Payment Statute year Demand under protest

(Rs. In Lakhs) (Rs.In Lakhs)

Settlement Commission, The Income Tax Act, 1961 1999-2000 11.23 11.25

Settlement Commission, The Income Tax Act, 1961 2000-2001 11.53 11.54

Settlement Commission, The Income Tax Act, 1961 2001-2002 3.98 3.99

The case has been settled by the Hon'ble Settlement Commission in favour of assesse, however income tax department has applied to Hon'ble Settlement Commission for rectification of said order regarding Interest portion.

3. Guarantees

Bank Guarantee of Rs. 75,00,000/- is provided to National Stock Exchange (NSE) towards Base Capital. It is against 50% Margin including Fixed Deposit.

Bank Guarantee of Rs. 15,00,000/- is provided to MCX Stock Exchange towards Base Capital for currency segment. It is against 50% Margin including Fixed Deposit and shares.

Bank Guarantee of Rs. 10,00,000/- is provided to IL&FS Ltd. towards Margin Money Deposit for F&O Segment. It is against 50% Margin including Shares.

4. Balance of client and Loans and advances are subject to the confirmation /reconciliation. However in the opinion of the Management, all current assets, Loans and Advances are recoverable in the ordinary course of business and would be realized in due course.

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

6. Previous year figure have been regrouped and rearrange wherever necessary to make them comparable with the figures of current year.

7. Notes 1 to 25 form an integral part of the Financial Statements as at 31st March, 2015 and have been authenticated as such.