Notes to Accounts of Omega Interactive Technologies Ltd.

Mar 31, 2024

(ix) Provisions, Contingent Liabilities and Contingent Assets

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.

When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the
reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a
provision is presented in the statement of profit or loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liability is-

(a) a possible obligation arising 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 Trust or

(b) a present obligation that arises from past events but is not recognized because

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

- the amount of the obligation cannot be measured with sufficient reliability.

The Company does not recognize a contingent liability but discloses the same as per the requirements of Ind AS 37.

Contingent assets are not recognised in the financial statements._

(x) Employee benefits:

i) Short term benefits

Short term employee benefit obligations are measured on an undiscounted basis and are expensed as a related service provided. A
liability is recognised for the amount expected to be paid under short term cash bonus or profit sharing plans if the Company has a
present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation
can be estimated reliably.

(xi) Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term deposits with an original
maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the statement of
cash flows, cash and cash equivalents consist of cash and short-term deposits, net of outstanding bank overdrafts as they are
considered an integral part of the Company''s cash management. Cash and cash equivalents include balance with banks which are
unrestricted for withdrawal and usage.

(xii) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss attributable to equity holders of the Company (after deducting
preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period is adjusted for events such as bonus issue, bonus element
in a rights issue, share split, and reverse share split 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 of
the company and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive
potential equity shares.

(xiii) Recent accounting pronouncements

The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Amendment Rules, 2023 dated March 31,
2023 to amend the following Ind AS which are effective for annual periods beginning on or after April 1, 2023. The Company applied
for the first-time these amendments.

(a) Definition of Accounting Estimates - Amendments to Ind AS 8

The amendments clarify the distinction between changes in accounting estimates and changes in accounting policies and the
correction of errors. It has also been clarified how entities use measurement techniques and inputs to develop accounting estimates.
The amendments had no impact on the Company''s financial statements.

(b) Disclosure of Accounting Policies - Amendments to Ind AS 1

The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for
entities to disclose their ''significant'' accounting policies with a requirement to disclose their ''material'' accounting policies and
adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The
amendments have had an impact on the Company''s disclosures of accounting policies, but not on the measurement, recognition or
presentation of any items in the Company''s financial statements.

(c) Deferred Tax related to Assets and Liabilities arising from a Single Transaction -
Amendments to Ind AS 12

The amendments narrow the scope of the initial recognition exception under Ind AS 12, so that it no longer applies to transactions
that give rise to equal taxable and deductible temporary differences such as leases. The amendments had no impact on the
Company''s financial statements.

Apart from these, consequential amendments and editorials have been made to other Ind AS like Ind AS 101, Ind AS 102, Ind AS 103,

Ind AS 107, Ind AS 109, Ind AS 115 and Ind AS 34._

2.2 Key Accounting Estimates and Significant Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the
reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent
liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in future periods. Continuous evaluation is done on the estimation and judgments
based on historical experience and other factors, including expectations of future events that are believed to be reasonable.
Revisions to accounting estimates are recognised prospectively. Information about critical judgments in applying material
accounting policies, as well as estimates and assumptions that have the most significant effect to the carrying amounts of assets and
liabilities within the next financial year, are included in the respective sections of material accounting policies above.

Note 22. Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision
Maker ("CODM") as required under Ind AS 108. The CODM is considered to be Board of Directors who makes strategic decisions
and is responsible for allocating resources and assessing performance of the operating segments. The principle activities of the
company comprises "Information technology services". Accordingly, the company has reportable segment consisting of IT related
Services. Further, there are no geographical segment to be reported since all the operations are undertaken in India.

Note 23. Contingent liabilities and claims against co not acknoleged as debt

(i) Contingent liabilitiesAs at March 2024, the company has no Contingent liabilities and claims against co not acknoleged as debt.

(ii) Commitments: As at March 2024, the company has no capital commitments.

Note 24. Details of dues to micro and small enterprises as defined under MSMED Act, 2006

The Company has compiled the information based on intimations received from the supplier of their status as micro or small
enterprises and / or its registration with appropriate authority under Micro, Small and Medium Enterprises Development Act,
2006 (''MSMED Act, 2006''). The balance due to Micro and Small Enterprises as defined under MSMED Act, 2006 as on March 31,
2024 is Nil (March 31,2023 - Nil). No interest has been paid or payable under MSMED Act, 2006 during the current year and

Note 25. Capital Management

For the purpose of the capital management, capital includes issued equity capital, share premium and money received against
share warrents and all other equity reserves attributable to the equity holders of the Company. The primary objective of the
Company''s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support
its business and maximise shareholders'' value.

The Company manage their capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company''s
policy is to keep optimum gearing ratio. The position as on March 31, 2024 and March 31, 2023 are as under:

The management of Company assessed that cash and cash equivalents, trade receivables, trade payables and current financial
assets/ liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

Fair Value Measurement

level 1 -Hierarchy includes financial instruments measured using quoted prices.

Level 2 - The fair value of financial instruments that are not traded in an active market is determined using valuation techniques
which maximise 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.

Level 3 - If one or more of the significant inputs are not based on observable market data, the instrument is included in level 3.
Note 27. Finacial Risk Management

The company''s activity expose it to market risk, liquidity risk and credit risk. The Company''s management oversees the
management of these risks and ensures that the company''s financial risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk
objectives.

(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 2 types of risk: interest rate risk and currency risk. Financial instruments affected by market risk
include borrowings.

Foreign currency risk:

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign
exchange rates. The Company is not exposed to foreign currency risk as there are no financial assets and liabilities denominated
in foreign currency.

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 change in
market interest rates. The management is responsible for the monitoring of the Company'' interest rate position. Various
variables are considered by the management in structuring the Company''s borrowings to achieve a reasonable and competitive
cost of funding.

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The Company does not have any transactions with companies struck off.

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

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

(v) 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

(vi) The Company has not received any fund from any person(s) or entityfies), 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.

(vii) The Company does not have any such 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.

(viii) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(ix) The Company is not declared wilful defaulter by any bank or financial institutions or lender during the year.

(x) The provisions of Section 135 of the Companies Act, 2013 in relation to corporate social responsibility is not applicable to the Company since it does not satisfy any condition of CSR appli

(xi) The title deeds of all the immovable properties are held in the name of the Company.

(xii) The Company has not availed working capital facilities during the year from banks and financial institutions. Hence, the Company is not required to file quarterly statements/returns.

As our report of even date

For Desai Saksena & Associates For and on behalf of the Board of Directors

Chartered Accountants Omega Interactive Technologies Limited

FRN: 102358W

SD/-

Alok Saksena

Partner SD/- SD/-

M.No.: 035170 Arun Kumar DivyaThakor

UDIN: (Director) (Director)

Place: Mumbai DIN: 09055964 DIN: 088845886

Date:-July 26,2024

SD/- SD/-

Ankit Bhojak Ashutosh Chhawchharia

_Company Secretary_Chief Financial Officer

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Mar 31, 2015

1. The company has only one class of shares referred to as equity shares having par value of Rs.10/- each. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive the remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion of the number of equity shares held by the shareholders.

2. None of the above shares are reserved for issue under options/contract/commitments for sale of shares or disinvestment.

(v) Shares alloted, as fully paid up, pursuant to contracts without payment being effected in cash / bonus shares / bought back / forfeited / call unpaid in previous five years-NIL.

3. Contingent Liability (Amount in Rs.)

AS AT AS AT 31.03.2015 31.03.2014

Claims against the Company not acknowledged as debts: Income Tax matters disputed in appeal 548,203 548,203

4. Related Party Disclosure:

Description of relationship Names of related parties

Key Management Personnel (KMP) Mr. Krishan Kumar Rathi - Director

Mr. Rajesh Nawathe - Director

Mrs. Subrata Paul - Director

5. Disclosure as required by Accounting Standard - AS 17 "Segment Reporting", issued by the ICAI

The business activity of the company consists of one reportable segment only i.e. software activities which includes Development of Software.

6. Provision for deferred tax

No deferrd tax asset is accounted in books on the brought forward losses as there is no virtual certainity supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

7. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

The Company has not received any intimation from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence disclosures, if any relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

8. Pursuant to Companies Act, 2013('the Act') being effective from 1st April 2014, the company has revised depreciation rates on tangible fixed assets as per the useful life specified in Part 'C' of schedue II of the Act. As a result of this change, for assets whose useful life is already exhausted as on 1st April, 2014, carrying amount of Rs. 39,198/- has been adjusted in Reserves and Surplus in accordance with the requirements of schedule II of the Act.

9. Previous year figures have been regrouped / rearranged wherever necessary to conform to the current years' presentation.

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Mar 31, 2014

1. Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs 10/- each. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to received remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the shareholders.

2. Contingent Liabilities

As at As at 31st March, 2014 31st March, 2013

Claims against the Company not acknowledged as debts:

Income Tax matters 548,203 548,203

3. Disclosure as required by Accounting Standard - AS 17 "Segment Reporting", issued by the ICAI

The business activity of the company consists of one reportable segment only i.e. software activities which includes Development of Software.

4. Provision for deferred tax

No deferrd tax asset is accounted in books on the brought forward losses as there is no virtual certainity supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2013

The Honorable High Court of Bombay, on 03rd May, 2013, sanctioned the "scheme of amalgamation and arrangement" (the Scheme") under sections 391 to 394 read with sections 100 to 105 of the Companies Act, 1956.In accordance with the Scheme, Mykindasite International Private Limited ("first transferor company") and Malvern Trading Private Limited ("second transferor company") both wholly owned subsidiaries have merged with Omega Interactive Technologies Limited ("the comoanv"1 with effect from 01st October. 2011.

The Amalgamation has been accounted for under the "Pooling of interest" method as prescribed under AS - 14 "Accounting for Amalgamations" issued by The Institute of Chartered Accountants of India. Accordingly the accounting treatment has been qiven as under :

1. The assets, liabilities and debit balance of profit and loss of the transferor companies as at 30th September, 2011 have been incorporated at their book values in the financial statements of the company. Also, the losses of the transferee company as on 30th September, 2011 which were not represented by assets have been reduced from Reserves and Surnlus and Share Premium of the comnanv.

2. The losses of Rs 4,75,01,900/- in respect of the first transferor company were not represented by corresponding assets and the same were adjusted to that extent by reducing the equity share capital. The first transferor company''s subscribed and paid up capital was reduced to such an extent to bring in conformity with investment value as shown in the Balance Sheet of the transferee company.

3. The first transferor company''s issued, subscribed & paid-up capital was reduced by Rs.9/50 per share. Consequent, upon such reduction, the subscribed and paid-up equity share capital was consolidated to make them paid-up to Rs. 10/- each.

4. The losses of Rs. 1,99,94,869/- as on 30th September, 2011 in respect of the transferee company were not represented by corresponding assets and the same was reduced from the Reserves & Surplus and Share Premium to that

5. The losses of Rs. 1,25,62,866/- arising out of amalgamation of the first transferor company and losses of Rs.4,18,02,226/- arising out of amalgamation of the second transferor company were reduced from the Reserves & SurDlus and Share Premium to the extent of Rs 93.65.092/- and from the Daid-uo eauitv share caDital to the extent of

6. Consequent to above reduction the transferee company''s subscribed & paid-up capital was reduced by Rs 9/- per share. Consequent, upon such reduction, the subscribed and paid-up equity share capital was consolidated to make the share Daid-uo to Rs. 10/- each.

7. The extinguishments and reduction of equity share capital as aforesaid did not involve either diminution of liability in respect of unpaid share capital or payment to any member of any paid up share capital and the order of the Court sanctioning the Scheme shall be deemed to be an order under Section 102 of the Act confirming the reduction.

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Mar 31, 2012

A) Terms/ rights attached to equity shares

I to Company has only one class of equity shares having a par value of Its 10/- each, t ach holder of equity shares is entitled to one vote ocr share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to received remaining, assets of the Company, after distribution of preferential amounts. I he distribution will be in proportion to the numbers of equity shares held by the shareholders.

Related Party Transactions

Related party disclosures as required by AS - 18, "Related Party Disclosures", are given below "

i) Relationships :

(a) Subsidiaries:

- Malvern Trading Private Limited

- Mykindasite International Private Limited

(b) Key Management Personel:

- Mr. Krishan Kumar Rathi - Director

- Mr. Rajesh Nawathe - Director

- Mrs. Renu Soni - Director

(c) Relative of Director:

- Mrs. Kanchan Soni

1 Contingent Liabilities:

2011-2012 2010-11

Claims against the Company not acknowledged as debts:

Income Tax matters 548,203 548,203

2 Disclosure as required by Accounting Standard - AS 17 "Segment Reporting", issued by the ICAI

3 Provision for tax and differed tax

Company has not made provision for tax as the taxable income shall be Rs Nil after taking set-off of the brought forwarc losses available as per the provisions of The Income Tax Act,1961. Also, no defferd tax asset is accounted in books on the brought forward losses as there is no virtual certainity supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

4 Amalgamation of Mykindasitc International Private Limited and Malvern Trading Private Limited with the company A scheme of amagamation of the subsidiaries i.e. Mykindasite International private Limited and Malvern Trading Private* Limited with Omega Interactive Technologies Limited under the provisiorjsfof Sections 391 to 394 of the Companies Art, 1956 has been filed with the Honourable High Court of Judicature at Booibay. The assets and liabilities of the above said companies shall be transferred to and vested in the Company as a going concern from the appointed date i.e. 1st October, 2011. The said scheme is yet to receive the approval of Honourable High Court and the amalgamation.

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Mar 31, 2010

1. CONTINGENT LIABILITIES

A. Estimated amount of Contracts remaining to be executed on capital account not provided for: NIL (Previous year - Rs. NIL)

B. Amounts demanded by Income Tax Authorities contested in appeal Rs. 5,48,203/- (Previous Year - Rs. 5,48,203/-).

2. The Company has not provided interest income on inter-corporate deposits given to various companies. In view of the management, the Inter-Corporate Deposits are good and are hopeful of recovering the amounts due.

3. MANAGERIAL REMUNERATION

i) Managerial remuneration included in the profit and loss account is as under:

Remuneration to Managing and Whole Time Directors

Current Year Previous Year

Salary Rs. NIL NIL

Commission Rs. NIL NIL

Total Rs. NIL NIL

ii) Computation of profit in accordance with Section 198(1) with Companies Act 1956 for calculation of Managerial remuneration

4. Related Party Disclosure :

Related party disclosures, as required by AS-18, "Related Party Disclosure", are given below:

(a) Name of the company with whom transactions have taken place during the year:

Subsidiary Company: Mykindasite International Private Limited

5. Segment Reporting (AS - 17)

The business activity of the company consists of one reportable segment only i.e. software activities which includes Development of Software.

6. Quantitative details:

A. The Company is engaged in the business of rendering Information Technology Services & Development of Software. The production and sale of such software/services cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and the information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

B. Other information as required is not applicable to the company during the year.

7. Previous year figures have been regrouped and reclassified wherever necessary and possible so as to conform to current year's classification.