Notes to Accounts of Newtime Infrastructure Ltd.

Mar 31, 2024

13.3 : Terms / Rights attached to the equity shares

The Company currently has issued equity shares having a par value of Rs.1/- per share. Each shareholder is eligible to one vote per share held. The company declares and pays dividends in Indian rupees. The dividend, if proposed by the Board of Directors, is subject to the approval of the shareholders in the Annual General Meeting, expect in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaning assets of the Company , after distribution of all preferential payments. The distribution will be in proportion of the number of equity shares held by the shareholders.

Preference Shares:

The Company currently has issued 1% & 10% non cumulative redeemable preference shares having a par value of Rs.10/- each. Preference shares will be redeemable after 18 years from the date of allotment at such premium as may be decided by the board of director, subject to issue price.

Terms of Preference share

-Preference shares will be redeemable after 18 years from the date of allotment at such premium as may be

decided by the board of director, subject to issue price

-Equity component of preference shares has been shown in other equity.

‘Subsequent to the year end, Board of Directors of the Company in their meeting on 11 April 2024, had proposed for issue of bonus shares to the shareholders in the ratio of 2 new fully paid-up equity share of 1/- each for every 1 fully paid-up equity shares of 1/-. This proposal was approved by shareholders in an extraordinary general meeting on May 8, 2024, with a record date of May 21,2024. Bonus shares were allotted in board meeting held on 24 May 2024. Accordingly, earnings per share (EPS) amounts for all the periods presented have been adjusted to this effect in accordance with “Ind AS 33; Earnings per Share"

“Diluted EPS represents earning per share based on the total number of shares including the potential estimated number of shares to be issued against convertible equity warrants.

The Group has a defined benefit gratuity plan in India (unfunded). The Group’s defined benefit gratuity plan is a final salary plan for employees.

The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at retirement age.

The following tables summarise the components of net benefit expense recognised in the statement of profit and loss and amounts recognised in the balance sheet for the respective plans:

The sensitivity analyses above have been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. The sensitivity analyses are based on a change in a significant assumption, keeping all other assumptions constant. The sensitivity analyses may not be representative of an actual change in the defined benefit obligation as it is unlikely that changes in assumptions would occur in isolation from one another.

Carrying value of all financial assets and liabilities is approximately equal to the fair value maturity period for all liabilities.

Fair value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 — Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability,

either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 — Inputs 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.

The management assessed that cash and cash equivalents, trade payables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments

The Company is exposed to credit risk and liquidity risk. The Company’s senior management overseas the Management of these risks. . The Board of Directors reviews and agrees policies for managing each risk, which are summarised as below:

(A) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises two types of risk: Interest rate risk and currency risk. Financial instruments affected by market risk include loans and borrowings, deposits and payables/ receivables in foreign currencies.

-Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company has no such borrowings that carry fluctuating rate of interest and hence, not exposed to interest rate risk.

- Foreign currency risks

Foreign risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is not dealing in foreign currency transaction therefore the Company is not exposed to foreign currency risks.

(B) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company’s major financial assets represent investment with banks, NBFC, Trade receivables, loans and advances and other financial assets. The Company attempts to limit the credit risk by dealing with reputed banks only.

(C) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure funds are available for use as per requirements. The Company’s prime source of liquidity is cash and cash equivalents and the cash generated from operations. The Company has no outstanding bank borrowings.

Note-30. Capital management

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings less cash and cash equivalents.

Note 33: During the current quarter, the Company issued 1,82,00,000 convertible equity warrants to certain nonpromoter individuals/entities on a preferential basis at Rs. 21.78 each, aggregating to Rs. 3963.96 lacs. Each warrant is convertible into one equity share. The Company received 25% of the total amount, Rs. 990.00 lacs, as application money for all warrants. Furthermore, the Company received the remaining 75% (Rs.751.41 lacs) for 46,00,000 warrants and issued 46,00,000 equity shares against those warrants.

Note 34 Other Statutory Information for the current financial year

Additional Regulatory Information pursuant to General Instructions for preparation of Balance Sheet as given in Division I of Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere in any other notes to the Financial Statements.

a. The Company does not has any immovable property for verification of title deeds.

b. The Company does not have any Benami property, where any proceeding has been initiated or pending

against the Company for holding any Benami property.

c. The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial year or after the end of reporting period but before the date when the financial statements are approved.

d. The Company does not have any transactions with struck-off companies

e. The Company does not have any charges or satisfaction which is yet to be registered with the Registrar

of Companies (ROC) beyond the statutory period.

f. The Company does not have layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

g. The company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

h. The Company has not received any funds 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;

(i) 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

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

i. The Company does not have any transactions which is not recorded in the books of account but 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)

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

Note 35 Figures of previous year have been rearranged /regrouped as and when necessary in terms of current year’s grouping.

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Mar 31, 2023

Additional regulatory information required by schedule iii to the companies act, 2013

(i) The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

(ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

(iii) The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

(iv) Utilisation of borrowed funds and share premium

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:

(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.

The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

(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

(v) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

(vi) The Company has not traded or invested in crypto currency or virtual currency during the year.

(vii) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

Note - 26:

(i) The Company has considered the possible impact of disruption caused by Covid-19 spread. Further, the Company will continue to monitor the future economic condition and its consequent impact on the business operations, given the nature of the pandemic.

(ii) Figures of previous year have been rearranged /regrouped as and when necessary in terms of current year''s grouping.

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Jun 30, 2014

1. The directors of the Company have certified that the current assets, Loans and Advance have a value on realization, at least equal to the amount at which they are stated in the Balance Sheet as all these accounts are in the ordinary course of Business & provisions of all known liabilities have been accounted for in the regular books of accounts.

2. Previous Year figure have been regrouped/rearranged wherever necessary in order to make them comparable.

3. (a) Expenditure in Foreign Currency Nil (b) Earning in Foreign Currency Nil

4. Notes 1 to 19 forms an integral part of the Balance Sheet and Profit & Loss Account.

The company has only one class of equity shares having par value Of Rs. 1 per share. each holders of equity shares is entitled to one vote per share and entitled to received the dividend.

NOTES 2.1

Revenue is recognised on accrual basis.

operating Income Includes income from service rendered.