Notes to Accounts of Sungold Capital Ltd.

Mar 31, 2024

h. Provisions & Contingent Liabilities:

The Company recognized provision when the company has a legal and constructive present obligation as a result of a past event, for which it
is probable that outflow of resources will be required and a reliable estimate can be made of the amount of the obligation. In cases where the
available information indicates that the loss on the contingency is reasonably possible but the amount of loss cannot be reasonably
estimated, a disclosure is made in the financial statements. Provisions are reviewed at each balance sheet date and adjusted to reflect the
current management estimates. If it is no longer probable that the outflow of resources would be required to settle the obligation, the
provision is reversed.

A disclosure of 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 likelihood of outflow of resource is remote, no provision or
disclosure is made.

Contingent assets are not recognized in the financial statements.

i. Prior Period Items:

Material amount of Income and Expenditure pertaining to prior years are disclosed separately.

j. Employee Benefits:

The Company has been advised that the payment of bonus act, 1965 and the payment of gratuity act, 1972 are not applicable.

k. Earnings per Share:

The Company reports basic and diluted earnings per equity share in accordance with AS 20, Earnings Per Share issued, by the Institute of
Chartered Accountants of India. Basic earnings per equity share have been computed by dividing net profit / loss attributable to the equity
share holders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per equity share
have been computed by dividing the net profit attributable to the equity share holders for the year by the weighted average number of
equity shares and dilutive potential equity shares outstanding during the year, except where the results are anti-dilutive.

l. Business segment

The Company’s reportable segments consist of “Financing Activity”, and “Others". The "Financing Activity" segment consists of asset
financing, term loans (corporate and retail], channel financing and bill discounting.

"Others" segment primarily includes advisory services, wealth management, distribution of financial products and leasing. Revenue and
expense directly attributable to segments are reported under each reportable segment Expenses not directly identifiable to each of the
segments have been allocated to each segment based on associated revenues of each segment All other expenses which are not attributable
or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable to segments are
disclosed under each reportable segment All other assets and liabilities are disclosed as unallocable.

m. Cash Flow Statement

Cash flows are reported using the indirect method, whereby 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 receipts or payments. The cash flows from operating,
investing and financing activities of the Company are segregated based on the available information.

n. Leases (Accounting Standard -19)

The company has not entered into any operating leases during the year.

o. Special Reserve

Company has transferred an amount of Rs.67298 (P.Y. of Rs 52,724) equivalent to 20% of the profit after tax of the company to a Special
Reserve Account in compliance with section 45IC of the Reserve Bank of India Act

p. Segment Reporting

1. Basis of Preparation

In accordance with the requirements of accounting standard -17 “Segment reporting", the company''s business activity can be classified
into three segments namely Entertainment Software Development and NBFC Activities. The Information about the entire segment is
given below.

• The Company does not have any Joint Ventures and Subsidiaries abroad. The Company has not sponsored any SPVs. Accordingly there is
no disclosure applicable.

• The Company had Nil Complaints at the beginning of the year. No Complaints were received during the year.

• The Company has not done any Securitization during the financial year. (Previous Year: NilJ.

• The Exposure to a single borrower and the group of borrowers does not exceed the limit stipulated by the RBI Concentration norms
applicable to NBFC.

• No exposure to unsecured advances during the year. (Previous year Nil)

• Company has not made any drawdown of reserves during the year (Previous year: Nil)

• The disclosure of the Concentration of Deposits taken is not applicable since the Company is not in the business of accepting deposits
being a Systemically Important Non Deposit Accepting NBFC.

• No exposure to Capital market during the year. (Previous year Nil)

s. For the year ended March 31,2024 the Company has, in the ordinary course of business not purchased loan by way of assignment from a
fellow subsidiary (Previous year: Rs. Nil)

t. During the current year, the Company has made standard asset provision of Rs. 11.65 Lakhs being 0.40% of Standard Assets as of
March 31,2024, as specified by RBI Notification No.DNBR.009/ CGM (CDS)-2015 dated March 27,2015.

u. The Company has not reported frauds during the year (Previous year: Rs. Nil) based on management reporting to risk committee and to
the RBI through prescribed returns.

For I Singh & Associates For and on behalf of the Board of the Company

Chartered Accountant

Firm Registration No-110266W

Sd/ Sd/- Sd/- Sd/- Sd/-

Hemantkumar Shantilal Mehta Rajiv Kotia Karishma Kaku Shruti Asati Pradipkumar Vaghela

Proprietor Chairman & Managing Director Director Company Secretary Chief Financial Officer

Membership No.0100748 (DIN: 00135912) (DIN:07214961) & Compliance Officer

UDIN: 24100748BKAKEY1194

Place: Mumbai
Date: 24/05/2024

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Mar 31, 2014

1. Related Party Transactions (Accounting Standard -18): Name of Related Parties & Descriptions of Relationships:

a) Directors having a Significant Influence / Key Management Personnel:

I. Mr. Rajiv Kotia –Managing Director

Wholly Own Subsidiaries

I. Shree Krishna Holiday Homes and Farms Limited II. Shree Krishna Infrastructure Limited

2. Leases (Accounting Standard – 19)

The company has not entered into any operating leases during the year.

3. Deferred Tax (Accounting Standard - 22)

The tax effects of significant timing (temporary) differences that resulted in Deferred Tax assets and liabilities and description of Financial Statement items that creates these differences are as follows.

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Mar 31, 2013

1. Accounting for Amalgamation (As-14) Composite Scheme of Arrangement

A scheme of arrangement under section 391 to 394 of the Companies Act,1956 (the scheme) with regard to merger of Magic touch InfoTech Limited (Transferor Company ) with Sungold Capital Limited (Transferee Company) was sanctioned by the Hon''ble High Court of Gujarat on 20th March,2012. Upon filling of certified copy of the high court with the register of companies, the scheme had become effective on 30th March, 2012.

a) The amalgamation of the transferor company with the transferee company took effect from 01st April, 2011, being the merger appointed date.

b) Sungold Capital Limited which is into the business of NBFC and has a entertainment division, whereas Magic Touch Infotech limited which is into the business of Software development, investment and finance.

c) The transferor company Magic Touch Infotech Limited dissolved without undergoing the process of winding up.

d) The Pooling of interest method of accounting is followed for amalgamation in the nature of merger.

e) The Transferor Company Magic Touch Infotech Limited had a Authorized Capital of Rs 7 Crore divided in to 7, 00, 00,000[Seven Crore] Equity shares of Rs 1/- Each. The Issued, Subscribed & Paid up Capital of Company was Rs 6,99,00,000/= [Six Crore Ninety Nine Lacs only] divided in to 6,99,00,000 [Six Crore Ninety Nine Lacs only] Equity Shares of Rs 1/= Each. Under the scheme of Amalgamation 1[ One] Equity Shares of Face Value of Rs 10/- each of the transferee Comp. has been allotted for every 10[Ten] Equity Shares of transferor company. Therefore a total of 69, 90,000/-(Sixty Nine Lacs Ninety Thousand)Equity Shares of Rs 10/- each has been allotted to the shareholders of Magic Touch Infotech Limited.

f) The entire undertaking Magic Touch Infotech Limited including all assets and liabilities were transferred to and vested in the company with effect from 01st April, 2011.

g) The Scheme has accordingly given effects to in the accounts. The amalgamation has been accounted for under the in the manner as specified in the scheme '' Pooling of Interest'' method surplus arising out of amalgamation shall be treated as Free Reserve & accordingly the Company has credited the surplus of Rs 2,82,822 to the Free Reserve as per the Scheme

2. Related Party Transactions (Accounting Standard -18):

Name of Related Parties & Descriptions of Relationships:

a) Directors having a Significant Influence / Key Management Personnel:

I. Mr. Rajiv Kotia –Managing Director

b) Wholly owned Subsidiaries

I. Shree Krishna Holiday Home and Farms Limited II. Shree Krishna Infrastructure Limited

3. Leases (Accounting Standard – 19)

The company has not entered into any operating leases during the year.

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Mar 31, 2012

1. Accounting for Amalgamation (As-14) Composite Scheme of Arrangement

A scheme of arrangement under section 391 to 394 of the companies Act,1956 (the scheme) with regard to merger of Magic touch InfoTech Limited (Transferor Company ) with Sungold Capital Limited (Transferee Company) was sanctioned by the Hon'ble High Court of Gujarat on 20th March,2012.

Upon filling of certified copy of the high court with the register of companies, the scheme had become effective on 30th March, 2012.

a) The amalgamation of the transferor company with the transferee company took effect from 01st April, 2011, being the merger appointed date.

b) Sungold Capital Limited is into the business of NBFC and has an entertainment division, whereas Magic Touch Infotech limited is into the business of Software development, investment and finance.

c) The transferor company Magic Touch Infotech Limited dissolved without undergoing the process of winding up.

d) The Pooling of interest method of accounting is followed for amalgamation in the nature of merger.

e) The Transferor Company Magic Touch Infotech Limited had a Authorized Capital of Rs 7 Crore divided in to 7, 00, 00,000[Seven Crore] Equity shares of Re 1/- Each. The Issued, Subscribed & Paid up Capital of Company. was Rs 6, 99, 00,000/= [Six Crore Ninety Nine Lacs only] divided in to 6,99,00,00 [Six Crore Ninety Nine Lacs only] Equity Shares of Re 1/= Each. Under the scheme of Amalgamation 1[ One] Equity Shares of Face Value of Rs 10/- each of the transferee Company. has been allotted for every 10[Ten] Equity Shares of transferor company. Therefore a total of 69, 90,000/- (Sixty Nine Lacs Ninety Thousand)Equity Shares of Rs 10/- each has been allotted to the shareholders of Magic Touch Infotech Limited.

f) The entire undertaking of Magic Touch Infotech Limited including all assets and liabilities were transferred to and vested in the company from appointed date 01st April, 2011.

g) The Scheme has accordingly given effects in the accounts. The amalgamation has been accounted for under the manner as specified in the scheme 'Pooling of Interest' method. Surplus arising out of amalgamation shall be treated as Free Reserve & accordingly the Company has credited the surplus of Rs 2,82,822 to the Free Reserve as per the Scheme

2. Related Party Transactions (Accounting Standard -18):

Name of Related Parties & Descriptions of Relationships:

a) Directors having a Significant Influence / Key Management Personnel:

I. Mr. Rajiv Kotia –Managing Director

b) Subsidiaries

I. Shree Krishna Holiday Home and Farms Limited

II. Shree Krishna Infrastructure Limited

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Mar 31, 2011

1. Contingent Liabilities not provided for: Nil

2. Estimated amounts of contracts remaining to be executed on Capital Account, not provided for Rs. Nil (previous year Rs. Nil).

3. Previous year figures have been regrouped/ rearranged, wherever necessary.

4. Related Party Disclosures as per AS-18 issued by the Institute of Chartered Accountants of India, for the year ended 31st March, 2011.

(A) Relationship

(i) Key Management Personnel and Relatives Mr. Rajiv Kotia, Managing Director

(ii) Associate - Nil

(iii) Enterprises over which key management personnel and/or their relatives have significant influence – Nil

5. Prior Period Items amounting to Rs.320000/-pertains to expenses relating to short payment of Stamp duty on shares issued in earlier years, paid during the year.

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Mar 31, 2010

1. Contingent Liabilities not provided for: Nil

2. Estimated amounts of contracts remaining to be executed on Capital Account, not provided for Rs. Nil (previous year Rs. Nil).

3. Previous year figures have been regrouped/ rearranged, whenever necessary.

4. Related Party Disclosures as per AS-18 issued by the Institute of Chartered Accountants of India, for the year ended 31st March, 2010.

(A) Relationship

(i) Key Management Personnel and Relatives Mr. Rajiv Kotia, Managing Director

(ii) Associates Nil

(iii) Enterprises over which key management personnel and/ortheir relatives have significant influence - Nil