Notes to Accounts of Tashi India Ltd.

Mar 31, 2024

(i) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the company has present determined obligations as a result of
past events and an outflow of resources embodying economic benefits will be required to settle
the obligations. Provisions are recognised at the best estimate ofthe expenditure required to settle
the present obligation at the balance sheet date.

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

A Contingent liability is not recognised but disclosed in the notes to the accounts, unless the
probability of an outflow ofresources is remote.

A contingent asset is generally neither recognised nor disclosed.

(ii) Earnings per share

The Basic earnings per share (EPS) is calculated by dividing the net profit or loss for the year
attributable to the equity shareholders by the weighted average number of equity shares
outstanding during the year.

For the purpose of calculating Diluted earnings per share, the net profit or loss for the year
attributable to the equity shareholders and the weighted average number of equity shares
outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

(iii) Cash and Cash Equivalent

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits maturing within twelve months from the date of balance Sheet, which are subject to an
insignificant risk of changes in value. Bank overdrafts are shown under borrowings in the balance
sheet.

(iv) Financial Instruments

A. Financial Instruments - Initial recognition and measurement

A financial instrument is defined as any contract that gives rise to a financial asset of one entity
and a financial liability or equity instrument of another entity. Trade receivables and payables,
loan receivables, investments in securities and subsidiaries, debt securities and other borrowings,
preferential and equity capital etc. are some examples of financial instruments.

Financial assets and financial liabilities are recognised in the company''s statement of financial
position when the company becomes a party to the contractual provisions of the instrument. The
company determines the classification of its financial assets and liabilities at initial recognition.
All financial assets are recognised initially at fair value plus, in the case of financial assets not
recorded at fair value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset.

B. 1. Financial assets -Subsequent measurement

The Subsequent measurement of financial assets depends on their classification which is as
follows:

a. Financial assets at fair value through profit or loss

Financial assets at fair value through profit and loss include financial assets held for sale in the
near term and those designated upon initial recognition at fair value through profit or loss.

b. Financial assets measured at amortised cost

Loans and receivables are non-derivative financial assets with fixed or determinable payments
that are not quoted in an active market. Trade receivables generally do not carry any interest and
are stated at their nominal value as reduced by appropriate allowance for estimated irrecoverable
amounts based on the ageing of the receivables balance and historical experience. Additionally, a

large number of minor receivables are grouped into homogenous groups and assessed for
impairment collectively. Individual trade receivables are written off when management deems
them not to be collectible.

c. Financial assets at fair value through OCI

All equity investments, except investments in subsidiaries, joint ventures and associates, falling
within the scope of Ind AS 109, are measured at fair value through Other Comprehensive Income
(OCI). The company makes an irrevocable election on an instrument by instrument basis to
present in other comprehensive income subsequent changes in the fair value. The classification is
made on initial recognition and is irrevocable.

If the company decides to designate an equity instrument at fair value through OCI, then all fair
value changes on the instrument, excluding dividends, are recognized in the OCI.

B. 2. Financial assets -Derecognition

The company derecognises a financial asset when the contractual rights to the cash flows from
the assets expire or it transfers the financial asset and substantially all the risks and rewards of
ownership of the asset.

Upon derecognition of equity instruments designated at fair value through OCI, the
associated fair value changes of that equity instrument is transferred from OCI to Retained
Earnings.

C. Investment in subsidiaries, joint ventures and associates

Investments made by the company in subsidiaries, joint ventures and associates are measured at
cost in the separate financial statements of the company.

D. 1. Financial liabilities -Subsequent measurement

The Subsequent measurement of financial liabilities depends on their classification which is as
follows:

a. Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading,
if any.

b. Financial liabilities measured at amortised cost

Financial liabilities include liabilities that represent a contractual obligation to deliver cash or
another financial assets to another entity, or a contract that may or will be settled in the entities
own equity instruments. Few examples of financial liabilities are trade payables, debt securities
and other borrowings and subordinated debts.

Interest bearing loans and borrowings taken by the company are subsequently measured at
amortised cost using the effective interest rate method (EIR). Amortised cost is calculated by
taking into account any discount or premium on acquisition and fee or costs that are integral part
ofthe EIR. The EIR amortised is included in finance costs in the statement ofprofit and loss.

D. 2. Financial liabilities -Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or
expires.

E. Offsettingfinancial instruments

Financial assets and financial liabilities are offset and the net amount reported in the statement of
financial position, if and only if, there is a currently enforceable legal right to offset the
recognised amounts and there is an intention to settle on a net basis, or to realise the assets and
settle the liabilities simultaneously.

F. Fair value measurement

The company measures certain financial instruments at fair value at each reporting date. Fair
value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is
based on presumption that the transaction to sell the asset or transfer the liability takes place
either:

• In the principal market for the assets or liability or

• In the absence of a principal market, in the most advantageous market for the asset or
liability.

The principal or the most advantageous market must be accessible to the company.

The company uses valuation technique that are appropriate in the circumstances and for which
sufficient data are available to measure fair value, maximising the use of relevant observable
inputs and minimising the use of unobservable inputs.

(v) Property, Plant and Equipment

Property, plant and equipment are carried at historical cost of acquisition less accumulated
depreciation and impairment losses, consistent with the criteria specified in Ind AS 16 ''Property,
Plant and Equipment''.

The cost of an item of property, plant and equipment comprises of its purchase price, any costs
directly attributable to its acquisition, borrowing costs (wherever applicable). Subsequent costs
are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the
company and the cost of the item can be measured reliably. All other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.

Depreciation on property, plant and equipment is calculated using Written Down Value method.
An item of property, plant and equipment and any significant part initially recognised is
derecognised upon disposal or when no future economic benefits are expected from its use or
disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference
between the net disposal proceeds and the carrying amount of the asset) is included under other
income in the Statement of Profit and Loss when the asset is derecognised. The residual values,

useful lives and methods of depreciation of property, plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

The useful lives have been determined based on technical evaluation done by the management''s
experts, which is same as the lives as specified by Schedule II to the Companies Act, 2013. The
residual values are not more than 5% of the original cost/deemed cost of the asset. The asset''
residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each
reporting period.

(vi) Impairment of non-financial assets

An assessment is done at each Balance Sheet date to ascertain whether there is any indication that
an asset may be impaired. If any such indication exists, an estimate of the recoverable amount of
asset is determined. If the carrying value of relevant asset is higher than the recoverable amount,
the carrying value is written down accordingly.

(vii) Non-current assets held for sale

Non-current assets are classified as held for sale if their carrying amount will be recovered
principally through a sale transaction rather than through continuing use and a sale is considered
highly probable. They are measured at the lower of their carrying amount and fair value less costs
to sell.

Non-current assets classified as held for sale and their related liabilities are presented separately
in the balance sheet. Non-current assets are not depreciated or amortised while they are classified
as held for sale.

(vii) Inventories

Stock in trade is valued at lower of cost and net realizable value.

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.

(viii) Exceptional items

Exceptional items refer to items of income or expense within statement of profit and loss from
ordinary activities which are non-recurring and are of such size, nature or incidence that their
separate disclosure is considered necessary to explain the performance ofthe company.

(ix) Impairment of assets

The company assesses, at each reporting date, whether there is an indication that an asset may be
impaired. If any indication exists, or when annual impairment testing for an asset is required, the
company estimates the asset''s recoverable amount. An asset''s recoverable amount is the higher of
an asset''s or cash-generating unit''s (CGU) fair value less costs of disposal and its value in use.
Recoverable amount is determined for an individual asset, unless the asset does not generate cash
inflows that are largely independent of those from other assets or groups of assets. When the
carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered
impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value
using a pre-tax discount rate that reflects current market assessments of the time value of money
and the risks specific to the asset. In determining fair value less costs of disposal, recent market
transactions are taken into account. If no such transactions can be identified, an appropriate
valuation model is used.

Impairment losses of continuing operations, including impairment on inventories, are recognised
in the statement of profit and loss.

2.3 (a) Critical accounting estimates and judgements

The preparation of the Company''s financial statements requires Management to make use of
estimates and judgments. In view of the inherent uncertainties and a level of subjectivity involved
in measurement of items, it is possible that the outcomes in the subsequent financial years could
differ from those on which the Management''s estimates are based. Accounting estimates and
judgments are used in various line items in the financial statements for e.g.:

• Business model assessment

• Fair value of financial instruments

• Effective Interest Rate (EIR)

• Impairment on financial assets

• Provisions and other contingent liabilities

• Provision for tax expenses

• Residual value and useful life ofproperty, plant and equipment

Management estimations and assumptions

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

b] The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate
the fair values:

(i) The fair values of the quoted shares and unquoted mutual funds are based on NAVs at the reporting date.

[ii] The fair values of the unquoted equity shares have been determined based on certifications from valuers who have used Book Value
approach for determining the fair values.

Level 1: Quoted Prices in active markets for identical assets or liabilities

Level 2 : Inputs 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 for the assets or liabilities that are not based on observable market data [unobservable inputs).

The company''s policy is to recognize transfers into and the transfers out of fair value hierarchy levels as at the end of the reporting period.
There are no transfers between level 1 and level 2 during the end of the reported periods.

2B.3 Financial Risk Management

The Company''s principal financial liabilities comprise loans and borrowings. The main purpose of these financial liabilities is to finance the
Company''s operations. The Company''s principal financial assets include loans, Investments, trade and other receivables, and cash and cash
equivalents that derive directly from its operations.

The Company''s activities expose it to various financial risks: market risk, credit risk and liquidity risk The company tries to foresee the
unpredictable nature of financial markets and seek to minimise potential adverse impact on its financial performance. The senior
management of the company oversees the management of these risks. The Audit Committee has additional oversight in the area of financial
risks and controls. It is the Company''s policy that no trading in derivatives for speculative purposes may be undertaken.

29 CAPrTAL MANAGEMENT

The following are the objectives of Capital management policy of the company:

[i] Safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for
other stakeholders, and

[ii] Maintain an optimal capital structure to reduce the cost of capital

As a part of capital management strategy, the company may adjust the amount of dividends paid to shareholders, issue new
shares, raise debt capital or sell assets to reduce debt. The company monitors capital basis a gearing ratio which is calculated by
dividing the total borrowings by total equity. The company’s strategy is to maintain a gearing ratio as possible as lower. In order to
achieve this overall abjective, the company ensures to meet its financial covenants attached to the interest bearing loans and
borrowings. There have never been any breaches in financial covenants of any interest bearing loans and borrowings in the past
and also in the current period.

30 RELATED PARTY TRANSACTIONS

Related parties and transactions with them as specified in the IND AS-24 on "Related Party Disclosures¹''
issued by the ICAI has been identified and given below,

1. Enterprises where Control Exists: None

2. Other Related parties with whom the Company had transactions:

[a] Key Management personnel and there relatives:-

Relatives Smt Bina Bajaj

(b) Enterprises over which Key Management personnel and their relatives are able to exercise Significant Influence-

Bajaj Steel Industries Ltd,, Nissan Merchandise Pvt. Ltd., Glycosic Merchants Pvt Ltd., Prosperous Finance Co. Ltd., Bajaj Reinforcement
LLP., Luk Bricks Pvt. Ltd., Ridhi Vinimay Pvt. Ltd., Sidhi Vinimay Pvt. Ltd.

NOTES: The parties listed under [b] above are not "related parties" as per the requirements of IND AS 24. However, as a matter of
abundant caution, they are being included for making the Financial Statements more transparent.

34 Segment Reporting:

The Company is predominantly engaged in a single reportable segment of ''Financial Services'' as per the Ind AS
108 -Segment Reporting. The Company has determined its business segment as Finance Activities Business.
Since there are no other business segments in which the company operates, there are no other primary
reportable segments. Therefore, the segment revenue, segment results, segment assets, segment liabilities,
total cost incurred to acquire segment assets, depreciation charge are all as is reflected in the financial
statements.

35 On the basis of physical verification of assets, as specified in IND AS - 36 and cash generation capacity of those
assets, in the management perception there is no impairment of such assets as appearing in the balance sheet
as on 31.03.2024.

36 a] Previous year figures above are indicated in brackets.

b] Previous year figure have been regrauped/rearranged, wherever found necessary.

In terms of our Report of even dste attached herewith

Signature to notes 1 to 36

For VMSS & Associates

Chartered Accountants _ _

Firm Registration No. 328952E Akshay Ranka S. C. Agrawal

[ Director] [ Director]

DIN:00235788 DIN:00511873

Sagar Jaiswal _

Partner Arti Batra

Membership N0.316727 [Company Secretary/CFO]

UDIN: 24316727BKFQJQ545B

Place: Nagpur [Camp]

?ate :27th MAY 2024

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Mar 31, 2015

1. "Terms/rights attached to Equity Shares

"The company has only one class of equity shares having a par value of 10/-per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

"In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. "

31.03.2015 31.03.2014 (Rs.) (Rs.)

2. Contingent Liabilities not provided for:

Sales Tax 18,24,901/- 5,40,895/-

3. In terms of provisions of the Companies Act, 2013, the rates of depreciation on tangible assets on written down value method have been recalculated based on useful life of the assets as prescribed under schedule-II of the said Act. Consequently, depreciation for the year is lower by Rs. 34942/-.

4 . Segment Reporting:

In accordance with Accounting Standard 17 "Segment Reporting" as prescribed under Companies (Accounting Standards) Rules, 2006, the Company has determined its business segment as Finance Activities Business. Since there are no other business segments in which the company operates, there are no other primary reportable segments. Therefore, the segment revenue, segment results, segment assets, segment liabilities, total cost incurred to acquire segment assets, depreciation charge are all as is reflected in the financial statements.

5 . Related parties and transaction with them as specified in Accounting Standard-

6. on "Related Party Disclosures" issued by the ICAI has been identified and given below;

(i) Related Party Relationships

(a) Where control exists None

(b) Other Related Parties with Bajaj Global Limited whom the Company had Bajaj Steel Industries Limited transactions Rohit Machine & Fabricators Ltd.,

Bajaj Exports Pvt Ltd.,

Glycosic Merchants Pvt Ltd.,

Bajaj Chemo-plast (I) Ltd.,

Bajaj Trade Developments Limited

Luk Plastcon Ltd Nagpur Infotech Pvt. Ltd.

Gangalaxmi Industries Ltd Nissan Merchandise Pvt. Ltd.

Bajaj Reinforcement LLP

NOTES: The parties listed under (b) above are not "related parties" as per the requirements of Accounting Standard

7. However, as a matter of abundant caution, they are being included for making the Financial Statements more transparent.

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Mar 31, 2014

SHARE CAPITAL

Terms/rights attached to Equity Shares :

The company has only one class of equity shares having a par value of 10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

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Mar 31, 2013

31.03.2013 31.03.2012 (Rs.) (Rs.)

1. Contingent Liabilities not provided for:

Income Tax demand 4, 38,097/- 22,00,916/-

2 . The Company has applied to the Reserve Bank of India (RBI) for surrendering its NBFC Registration certificate, which is under process. In view of this particulars as required in terms of Para 13 of the Non Banking Financial (Non -Deposit Accepting or Holding) Companies & Prudential Norms (Reserve Bank) Directions, 2007 are not given.

NOTES: The parties listed under (b) above are not "related parties" as per the requirements of Accounting Standard 18. However, as a matter of abundant caution, they are being included for making the Financial Statements more transparent.

3. As per the information available with the Company and relied upon by the auditors:

a. There are no dues towards any small Scale Industrial Undertaking.

b. No dues to suppliers covered under the Micro, Small and Medium Enterprises Development Act, 2006.

4. Previous year figures are rearranged/regrouped wherever considered necessary.

Note: All figures in brackets are outflow.

CONSIDERING THE COMPANY''S ACTIVITIES, UNSECURED LOANS ARE CONSIDERED AS PART OF WORKING CAPITAL AND OPERATING ACTIV- ITY OF THE COMPANY.

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Mar 31, 2012

1. SHARE CAPITAL

b) Terms/rights attached to Equity Shares

The company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts The distribution will be in proportion to the number of equity shares held by the shareholders

31.03.2012 31.03.2011 (Rs.) (Rs.)

2. Contingent Liabilities:

Claims against the Company not acknowledged as debt.

Income Tax demand 22,00.916/- 22,00,916/-

3. The Company has applied to the Reserve Bank of India (RBI) for surrendering its NBFC registration certificate since the company is no more a Non Banking Financial Company and the same is under process and hence, particulars as required in terms of Para 13 of the Non Banking Financial (Non -Deposit Accepting or Holding) Companies & Prudential Norms (Reserve Bank) Directions. 2007 are not given.

4. Transactions with Related Parties, (As identified by the Management)

(i) Related Party Relationships

(a) Where control exists None

(h) Other Related Parties

Bajaj Global Limited

Bajaj Steel Industries Limited

Prosperous Finance Services Limited

Rohit Machine & Fabrocators Ltd.,

Bajaj Exports Pvt Ltd.,

Bajaj Polymin Pvt Ltd.,

Giycosic Merchants Pvt Ltd.,

Bajaj Cotgin Pvt Ltd.,

Bajaj Chemo-plast (I)Ltd.,

Bajaj Trade Developments Limited

Rohit Polytex Ltd

Luk Plastcon Ltd

Gangalaxmi Industries Ltd

Mr. Kush Bajaj

NOTES: The parties listed under (b) above are not "related parties" as per the requirements of Accounting Standard 18 However, as a matter of abundant caution, they are being included for making the Financial Statements more transparent.

5. As per the information available with the Company and relied upon by the auditors:

a. There are no dues towards any small Scale Industrial Undertaking.

b. No dues to suppliers covered under the Micro, Small and Medium Enterprises Development Act, 2006.

6. Previous year figures are rearranged/regrouped wherever considered necessary.

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Mar 31, 2010

31.03.2010 31.03.2009

1. Contingent Liabilities:

Claims against the Company not acknowledged as debt.

Income Tax demand - 28,46,020

2. Depreciation has been provided on written down value method at rates and the manner prescribed in Schedule XIV to the Companies Act, 1956.

3. Additional information pursuant to the provision of Schedule VI to the Companies Act, 1956.

4. No other information under clause 4-D of Part-II to the Schedule VI has been furnished since the same is not applicabie for the year.

5. Figures for previous year have been regrouped and rearranged wherever necessary.

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Mar 31, 2009

31.03.2009 31.03.2009

1.Contingent Liabilities : Claims against the Company not acknowledged as dent.

Income Tax demand 28,46.020

2.Depreciation has been provided on written down value method at rates and the manner prescribed in Schedule XIV to the Companies Act, 1956.

3.Additional information pursuant to the provision of Schedule VI to the Companies Act, 1956.

4. Figures for previous year have been regrouped and rearranged wherever necessary.

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Mar 31, 2004

1. Depreciation has been provided on written down value method at rates and the manner prescribed in Schedule XIV to the Companies Act, 1956.

2. Additional information pursuant to the provision of Schedule VI to the Companies Act, 1956.

3. No other information under clause 4-D of Part-ll to the schedule VI has been furnished since the same is not applicable for the year.

4. Transaction with Related Parties : (As identified by the Directors and taken on record by the Board)

a) Name of Related party and nature of related partys relationship where control exist None

b) Transaction between related parties None

5. Figures for previous year have been regrouped and rearranged wherever neccessary.