Accounting Policies of Rajputana Investment & Finance Ltd. Company

Mar 31, 2025

1.SIGNIFICANT ACCOUNTING POLICIES & NOTES:

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared as a going concern in accordance with the Indian
Accounting Standard (‘Ind AS’), notified under section 133 of the Companies Act,2013 read
together with Rule 3 of the Companies (Indian Accounting Standards) Rules,2015 and
Companies (Indian Accounting Standards) amendments Rules,2016 issued by the Ministry of
Corporate Affairs (MCA).

These financial statements are prepared on historical cost convention on the accrual basis,
except for certain financial instruments which are measured at fair values.

The financial statements are presented in Indian Rupees (INR) and all values are rounded to
the nearest lakhs, except when otherwise indicated. The Company has prepared these
financial statements which comprise the Balance Sheet as at 31 March 2025, the Statement of
Profit and Loss, the Statements of Cash Flows and the Statement of Changes in Equity for the

period ended 31 March 2025, and accounting policies and other explanatory information
(together hereinafter referred to as" financial statements”).

1.2 Presentation of Financial statement

The financial statements of the Company are presented as per Schedule III (Division II) of
the Companies Act, 2013 applicable to a company whose financial statements are drawn up
in compliance with IndAS , as notified (as amended) by the Ministry of Corporate Affairs
(MCA).

1.3 Statement of Compliance

These separate financial statements of the Company have been prepared in accordance with
Indian Accounting Standards as per the Companies (Indian Accounting Standards) Rules,
2015 as amended and notified under Section 133 of the Companies Act, 2013 and the
generally accepted accounting principles.

1.4 Use of Estimates

The estimates and judgements used in the preparation of the financial statements are
continuously evaluated by the Company and are based on historical experience and various
other assumptions and factors (including expectations of future events) that the Company
believes to be reasonable under the existing circumstances. Differences between actual results
and estimates are recognized in the period in which the results are known/materialized.

The said estimates are based on the facts and events, that existed as at the reporting date, or
that occurred after that date but provide additional evidence about conditions existing as at
the reporting date.

1.5 Current versus Non-Current Classification

The Company presents assets and liabilities in the balance sheet based on current/ non¬
current classification. An asset is classified as current when it is:

? Expected to be realized or intended to be sold or consumed in normal operating cycle

? Held primarily for the purpose of trading

? Expected to be realized within twelve months after the reporting period, or

? Cash or cash equivalent unless restricted from being exchanged or used to settle a
liability for at least twelve months after the reporting period

ll other assets are classified as non-current. A liability is classified as current when:

? It is expected to be settled in normal operating cycle

? It is held primarily for the purpose of trading

? It is due to be settled within twelve months after the reporting period, or

? There is no unconditional right to defer the settlement of the liability for at least
twelve months after the reporting period.

All other liabilities are classified as non-current. Deferred tax assets and liabilities are
classified as non-current assets and liabilities.

All assets and liabilities have been classified as current or non-current as per the Company’s
normal operating cycle and other criteria set out in the Schedule III to the Companies Act,
2013. Based on the nature of products and the time between the acquisition of assets for
processing and their realization in cash and cash equivalents, the company has ascertained its
operating cycle as 12 months for the purpose of current - noncurrent classification of assets
and liabilities.

1.6 Provision for Current and Deferred Tax

Tax expense comprises current and deferred tax. Current income-tax is measured at the
amount expected to be paid to the tax authorities in accordance with the Income-tax Act,
1961 enacted in India and tax laws prevailing in the respective tax jurisdictions where the
Company operates. The tax rates and tax laws used to compute the amount are those that are
enacted or substantively enacted, at the reporting date. Provision for Income Tax is netted off
with amount of Tax Deducted at Source. Deferred income taxes reflect the impact of timing
differences between taxable income and accounting income originating during the current
year and reversal of timing differences for the earlier years. Deferred tax is measured using
the tax rates and the tax laws enacted or substantively enacted at the reporting date.

1.7 Investments
Classification:

The Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive
income, or through the Statement of Profit and Loss), and

• those measured at amortized cost.

The classification depends on the Company''s business model for managing the financial
assets and the contractual terms of the cash flows

Measurement:

The company at initial recognition measures a financial asset at its fair value plus transaction
costs that are directly attributable to its acquisition.

There is no subsequent reclassification, on sale or otherwise, of fair value gains and losses to
the Statement of Profit and Loss. Interest income from these financial assets is included in
other income.

Impairment of financial assets:

The Company measures the expected credit loss associated with its assets based on historical
trend, industry practices and the business environment in which the entity operates or any
other appropriate basis. The impairment methodology applied depends on whether there has
been a significant increase in credit risk.

1.8 Current Assets including Trade Receivables

In the opinion of the Board and to the best of its knowledge and belief the value on
realization of current assets in the ordinary course of business would not be less than the
amount at which they are stated in the Balance Sheet and repayable on demand.

1.9 Earning Per Shares

Basic earnings per share is calculated by dividing the profit attributable to owners of the
Company by the weighted average number of equities shares outstanding during the financial
year, adjusted for bonus elements in equity shares issued during the year and excluding
treasury shares.

Diluted earnings per share adjusts the figures used in the determination of basic earnings per
share to take into account the after-income tax effect of interest and other financing costs
associated with dilutive potential equity shares, and the weighted average number of
additional equity shares that would have been outstanding assuming the conversion of all
dilutive potential equity shares.

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Mar 31, 2024

CORPORATE INFORMATION

RAJPUTANA INVESTMENT & FINANCE LIMITED (the Company) is a Limited Company domiciled in India and was incorporated on September 22, 1941, at Kolkata, West Bengal under the provisions of the Companies Act, 1913. The equity shares of the Company are listed on the BSE Limited. The Company is engaged in the purchase, sale, and exchange of finest preowned luxury cars across the nation.

i. Corporate Identity Number (CIN): L50100KL1941PLC078267

The company''s registered office is at Building No.: 1/110, BRD Complex, NH Bypass, Konikkara, Thrissur - 680306 Kerala. The company by special resolution altered the provisions of its Memorandum of association with respect to the place of the Registered office by changing it from the state of west Bengal to Kerala and such alteration have been confirmed by the regional director bearing the date 22^nd of August 2022.

The management has decided to delist it’s shares from Calcutta stock Exchange at the board meeting held on 12 November 2022 and an application was submitted to Calcutta stock exchange in this regard. However, the company was unable to complete the delisting procedures as the company is currently suspended from Calcutta stock exchange due to absence of trading for a prolonged period.

1. SIGNIFICANT ACCOUNTING POLICIES & NOTES:1.1 Basis of Preparation of Financial Statements

The financial statements have been prepared as a going concern in accordance with the Indian Accounting Standard (‘Ind AS’), notified under section 133 of the Companies Act,2013 read together with Rule 3 of the Companies (Indian Accounting Standards) Rules,2015 and Companies (Indian Accounting Standards) amendments Rules,2016 issued by the Ministry of Corporate Affairs (MCA).

These financial statements are prepared on historical cost convention on the accrual basis, except for certain financial instruments which are measured at fair values.

The financial statements are presented in Indian Rupees (INR) and all values are rounded to the nearest lakhs, except when otherwise indicated. The Company has prepared these financial statements which comprise the Balance Sheet as at 31 March 2024, the Statement of Profit and Loss, the Statements of Cash Flows and the Statement of Changes in Equity for the period ended 31 March 2024, and accounting policies and other explanatory information (together hereinafter referred to as" financial statements”).

1.2 Presentation of Financial statement

The financial statements of the Company are presented as per Schedule III (Division II) of the Companies Act, 2013 applicable to a company whose financial statements are drawn up in compliance with Ind AS , as notified (as amended) by the Ministry of Corporate Affairs (MCA).

1.3 Statement of Compliance

These separate financial statements of the Company have been prepared in accordance with Indian Accounting Standards as per the Companies (Indian Accounting Standards) Rules, 2015 as amended and notified under Section 133 of the Companies Act, 2013 and the generally accepted accounting principles.

1.4 Use of Estimates

The estimates and judgements used in the preparation of the financial statements are continuously evaluated by the Company and are based on historical experience and various other assumptions and factors (including expectations of future events) that the Company believes to be reasonable under the existing circumstances. Differences between actual results and estimates are recognized in the period in which the results are known/materialized.

The said estimates are based on the facts and events, that existed as at the reporting date, or that occurred after that date but provide additional evidence about conditions existing as at the reporting date.

1.5 Current versus Non-Current Classification

The Company presents assets and liabilities in the balance sheet based on current/ noncurrent classification. An asset is classified as current when it is:

? Expected to be realized or intended to be sold or consumed in normal operating cycle

? Held primarily for the purpose of trading

? Expected to be realized within twelve months after the reporting period, or

? 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 expected to be settled in normal operating cycle

? It is held primarily for the purpose of trading

? It is due to be settled within twelve months after the reporting period, or

? There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities.

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the company has ascertained its operating cycle as 12 months for the purpose of current - noncurrent classification of assets and liabilities.

1.6 Provision for Current and Deferred Tax

Tax expense comprises current and deferred tax. Current income-tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income-tax Act, 1961 enacted in India and tax laws prevailing in the respective tax jurisdictions where the Company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date. Provision for Income Tax is netted off with amount of Tax Deducted at Source. Deferred income taxes reflect the impact of timing differences between taxable income and accounting income originating during the current year and reversal of timing differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date.

1.7 Investments Classification:

The Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income, or through the Statement of Profit and Loss), and

• those measured at amortized cost.

The classification depends on the Company''s business model for managing the financial assets and the contractual terms of the cash flows Measurement:

The company at initial recognition measures a financial asset at its fair value plus transaction costs that are directly attributable to its acquisition.

There is no subsequent reclassification, on sale or otherwise, of fair value gains and losses to the Statement of Profit and Loss. Interest income from these financial assets is included in other income.

Impairment of financial assets

The Company measures the expected credit loss associated with its assets based on historical trend, industry practices and the business environment in which the entity operates or any other appropriate basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

1.8 Current Assets including Trade Receivables

In the opinion of the Board and to the best of its knowledge and belief the value on realization of current assets in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and repayable on demand.

1.9 Earning Per Shares

Basic earnings per share is calculated by dividing the profit attributable to owners of the Company by the weighted average number of equities shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares.

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential equity shares, and the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

1.10 Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events, and it is probable that there will be an outflow of resources. Provisions are not recognized for future operating losses. Provisions are measured at the present value of the management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pretax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as an interest expense.

Contingent Liabilities are not recognized but are disclosed in respect of possible obligations that arise from past events but their existence will be confirmed by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made. Contingent Assets are neither recognized nor disclosed in the financial statements.

1.11 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals or accruals of past & future operating cash receipts or payments and item of income or expenses associated with investing and financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

1.12 Cash & Cash Equivalents

For the purpose of presentation of cash flows, cash and cash equivalents includes cash on hand, bank overdraft, deposits held at call with financial institutions, other short-term highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

1.13 Borrowing Cost

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that takes a necessarily substantial period of time to get ready for its intended use. All other borrowing costs are charged to the Statement of Profit and Loss.

1.14 Property, Plant & Equipment and Intangible Assets & Depreciation

a) Fixed Assets are stated at Cost less accumulated depreciation. The Company has capitalized all cost relating to the acquisition and installation of Fixed Assets.

b) Depreciation is provided on Fixed Assets on Written down value Method on the basis of Useful Life as prescribed under Part C of Schedule - II of the Companies Act, 2013.

c) Cost of the fixed assets not ready for their intended use at the Balance Sheet date together with all related expenses are shown as Capital Work-in-Progress.

1.15 Inventory

Inventories are valued at the lower of cost and net realizable value item wise. Cost includes indirect cost also.Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. Inventory obsolescence is based on assessment of the future uses. Obsolete and slow moving items are subjected to continuous technical monitoring and are valued at lower of cost and estimated net realizable value. When Inventories are sold, the carrying amount of those items are recognized as expenses in the period in which the related revenue is recognized.

1.16 Segment ReportingA. Business Segments:

Based on the guiding principles given in Accounting Standard 17 (AS - 17) on Segment Reporting issued by ICAI, the Company has only one reportable Business Segment. Accordingly, the figures appearing in these financial statements relate to the Company''s single Business Segment.

B. Geographical Segments:

The Company activities / operations are confined to India and as such there is only one geographical segment. Accordingly, the figures appearing in these financial statements relate to the Company''s single geographical segment.

1.17 Recognition of Income & Expenditure

Income and expenditure is recognized and accounted for on accrual basis. Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue from sale of goods is recognized on transfer of significant risks and rewards of ownership to the customer and when no significant uncertainty exists regarding realization of the consideration. Sales are recorded net of sales returns, cash and trade discounts. Interest income from debt instruments is recognized using the effective interest rate method. Dividends are recognized in the Statement of Profit and Loss only when the right to receive payment is established.

1.18 The Directors

The Directors of the Company are pleased to inform that the Company has along with the Calcutta Stock Exchange Limited has got its Equity Shares listed with Bombay Stock Exchange Limited under the Norms for Direct Listing.

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Mar 31, 2013

A) These accounts are prepared on historical cost concept and on the basis of accounting principles of a going concern.

b) Accounting Policies unless specifically stated to be otherwise, are consistent and are in consonance with generally accepted accounting principles.

c) The Company does not have any Fixed Assets, hence the policy in respect thereof shall be formulated as and when the need arises.

d) Since the Company does not have any Fixed Assets, the policy in respect of Depreciation will be formulated as and when the need arises.

e) Revenue recognition is on accrual basis unless otherwise stated.

f) Long Term Investments are stated at cost less provision for diminution, other than temporary, in value of such investments determined for each investment individually,

g) Policy in respect of inventories shall be formulated as and when the need arises.

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Mar 31, 2012

1. There has been no change/movements in numbers of shares outstanding at the beginning and at the end of the reporting period.

2. The Company has only one class of issued shares, i.e. Equity Shares having face value of Rs.10Z- per share. Each holder of Equity Shares is entitled to one vote per share and equal right for dividend. The dividend, if any, proposed by the Board of Directors is subject to the approval of shareholders in the relevant Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholdings.

3. The Company does not have any Holding Company / ultimate Holding Company.

4. No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvestment as at the Balance Sheet date.

5. The Company has not allotted any shares as fully paid up pursuant to contract(s) without payment being received in cash within a period of 5 years preceding the date as at which the Balance Sheet is prepared.

6. The Company has not allotted any shares as fully paid up by way of bonus shares within a period of 5 years preceding the date as at which the Balance Sheet is prepared.

7. The Company has not bought back any shares within a period of 5 years preceding the date as at which the Balance Sheet is prepared.

8. No securities convertible into Equity/Preference Shares have been Issued by the Company during the year,

9. No calls are unpaid by any Director or Officer of the Company.

10. No shares have been forefeited by the Company.

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Mar 31, 2011

A) These accounts are prepared on historical cost and on the basis of accounting principles of a going concern, b) Accounting Policies unless specifically stated to be otherwise, are consistent and are in consonance with generally accepted

c) The company dose not have any fixed assets. Policy in respect thereof shall be framed as and when required.

d) Policy in respect of depreciation shall be framed when the company acquires any fixed assets.

e) Revenue recognition is on accrual basis unless otherwise stated.

f) Long Term Investments are stated at cost. Provision for diminution, other than temporary, in value of such investments determined for each investment individually is being made separately.

g) Policy in respect of inventories shall be formulated as and when the need arises.