Notes to Accounts of Tokyo Finance Ltd.

Mar 31, 2024

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence will be confirmed by the
occurrence or non-occurrence 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.

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an
outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for
future operating losses.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the
end ofthe reporting period. The discount rate used to determine the present value is a pre-taxrate 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 recognised as
interest expense.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the
class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the
same class of obligations may be small.

A contingent asset is disclosed, where an inflow of economic benefits is probable. An entity shall not recognise a contingent asset unless
the recovery is virtually certain.

2.18) Cash and Cash Equivalents:

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with
financial institutions, other shortterm, 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.

2.19) Impairment of assets:

Intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if
events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes
in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised forthe amount by which asset’s
carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in
use. Forthe purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows
which are largely independent of the cash inflows from other assets or group of assets (cash-generating units). Non-financial assets other
than goodwill that suffered impairment are reviewed for possible reversal of the impairment at the end of each reporting period.

2.20) Earnings Per Share:

i. Basic earnings per share: Basic earnings per share is calculated by dividing :

- the profit attributable to owners of the Company

- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity
shares issued during the year and excluding treasury shares.

ii. Diluted earnings per share: 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.

2.21) New accounting pronouncements:

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time. During the year ended March 31, 2024, MCA has not notified any new standards or
amendments to the existing standards applicable to the company .

3 CRITICAL ESTIMATES AND JUDGEMENTS:

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results.
Management also needs to exercise judgement in applying the group’s accounting policies. This note provides an overview of the areas that
involved a higher degree of judgement or complexity, and of items which are more likely to be materially adjusted due to estimates and
assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgements is
included in relevant notes together with information about the basis of calculation for each affected line item in the financial statements.

The preparation of the financial statements in conformity with GAAP requires the Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to contingent assets and liabilities as at the date of the financial statements and
reported amounts ofincome and expenses during the period. These estimates and associated assumptions are based on historical experience and
management’s best knowledge of current events and actions the Company may take in future.

Information about critical estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets
and liabilities are included in the following notes:

1) Impairment loss allowance on loans (Note 6)

2) Estimation of defined benefit obligations (Note 26)

3) Estimation of current tax expenses and payable (Note 11)

4) Estimation of provisions and contingencies (Note 12 and 23)

3.1) Impairment loss allowance on loans

While creating impairment loss allowance on loans require judgement in deciding whether loan asset qualifies to be impairbased on various
observable events as mentioned in notes above and the quantum of allowance to be create or reversed.

3.2) Estimation of defined benefit obligations

The liabilities of the company arising from employee benefit obligations and the related current service cost, are determined on an actuarial
basis using various assumptions. Refer note 26 for significant assumptions used.

3.3) Estimation of current and deferred tax expenses and payable

The Company’s tax charge is the sum of total current and deferred tax charges. Taxes recognized in the financial statements reflect
management’s best estimate of the outcome based on the facts known at the balance sheet date. These facts include but are not limited to
interpretation of tax laws of various jurisdictions where the company operates. Any difference between the estimates and final tax
assessments will impact the income tax as well as the resulting assets and liabilities.

3.4) Estimation of provisions and contingencies:

Provisions are liabilities of uncertain amount or timing recognised where a legal or constructive obligation exists at the balance sheet date, as
a result of a past event, where the amount ofthe obligation can be reliably estimated and where the outflow of economic benefit is probable.
Contingent liabilities are possible obligations that may arise frompast event whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events which are not fully within the control of the company. The Company exercises judgement
and estimates in recognizing the provisions and assessing the exposure to contingent liabilities relating to pending litigations. Judgement is
necessary in assessing the likelihood of the success of the pending claimand to quantify the possible range of financial settlement. Due to
this inherent uncertainty in the evaluation process, actual losses may be different from originally estimated provision.

27 SEGMENT INFORMATION
Operating Segments:

An operating segment is a component of an entity:

(a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses
relating to transactions with other components of the same entity),

(b) whose operating results are regularly reviewed by the entity’s chief operating decision maker (CODM) to make decisions
about resources to be allocated to the segment and assess its performance, and

(c) for which discrete financial information is available.

The Company is undertaking activity of providing finance and is predominantly affected to some extent of the customers profile. The director of
the Company has been identified as the Chief Operating Decision Maker (CODM). The CODM evaluates the segments based on their revenue
growth, earnings before interest, tax and depreciation and return on capital employed.

The differences in its finance do not qualify as its reportable segment. The company reviews its financials only based on it lendings, recovery
and and interest earned. Thus, based on such the Company’s assessment, the Company reports segment information under one segment,
namely, fianance activity which is it''s business segment and accordingly segment revenue is reported by the customer location as below:

36 ADDITIONAL DISCLOSURES AS NOTIFIED BY MCA PURSUANT TO AMENDED SCHEDULE HI :

The following additional information (other than what is already disclosed elsewhere) is disclosed in terms of amendments dated March 24, 2021 in
Schedule III to the Companies Act 2013 with effect from 1st day of April, 2021:-

a. The company has no subsidiary prescribed under the Act andhence clause (87) ofsection 2 of theAct read with Companies (Restriction on number
of Layers) Rules, 2017 is not applicable to the company

b. There is no Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013

c. Disclosure in Relation to Undisclosed Income During the year, the Company has not surrendered or disclosed any income in the taxassessments
under the Income TaxAct, 1961 (such as, search or survey or any other relevantprovisions ofthe Income TaxAct, 1961). Accordingly, there are no
transaction which are not recorded in the books of accounts.

d. The company was not having networth ofrupees five hundred crore ormore, turnoverofrupees one thousand crore or more, net profit of rupees five
crore or more during the immediately preceding financial year and hence, provisions of section 135 of the Act not applicable to the company during
the year.

f The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any
other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the
Intermediary shall :

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate
Beneficiaries) or

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

g. The Company has not received any funds from any other person(s) or entity(ies) including foreign entities (Intermediaries) with the understanding
(whether recorded in writing or otherwise) that the Company shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate Beneficiaries) or

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

h. There is no proceeding initiated or pending against the company during the year for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 and rules made thereunder.

i. The company is not declared wilful defaulter by any bank or financial Institution or any other lenders.

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

k. There are no creation or satisfaction of charges as at 31st March, 2024 pending with ROC beyond the statutory period.

l. The Company has no transactions with Struck Off Companies.

m The Company has no borrowings Sanctioned in excess of Rs. 5 Crores from banks or financial institutions on the basis of security of current assets.

37 AUDIT TRAIT, NOTE The Company is using accounting software for maintaining its books of account wherein, audit trail feature (edit log facility) as
per the requirements of proviso to rule 3(1) of the Companies (Accounts) rule 2014, is not available/ not enabled during the year ended March 31st,
2024. The Company is in the process of evaluating options for implementing audit trail feature in the accounting software used for maintaining its
books of account to comply with the prescribed requirements.

38 PREVIOUS YEAR FIGURES:

Previous year figures have been regrouped/reclassified whenever necessary, to make them comparable with the current year figures.

As per our report of even date

For UBG & Co. For and Behalf of Board

Chartered Accountants
Firm Registration No.141076W

Velji L. Shah (Chairman and M.D., DIN: 7239)

G_aurav P_arekh Haresh V. Shah (Director, DIN: 8339)

Partner

Membership No. 140694 ^Kalp^{ana Ghate (}GR°.⁾

Place: Mumbai
Date: 16 May, 2024

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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 per share. Each holder of equity shares is entitled to one vote per share. No dividend has been proposed by the Board of Directors for the year. 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 amount, in proportion to their shareholding.

2. Contingent liabilities Nil Nil

3. Borrowing Costs

No Borrowing Cost has been Capitalised during the year

4. Segment Information:

The Company is operating in a single segment. Hence, no separate segmentwise information is given.

5. Disclosure in pursuant to AS-19 Leases

Operating Lease : The company has not taken any Premises on lease

6. Previous year''s figures

Comparable figures have been regrouped/reclassified wherever necessary.

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Mar 31, 2013

1. Contingent liabilities Nil Nil

2. Borrowing Costs

No Borrowing Cost has been Capitalised during the year

3. Segment Information:

The Company is operating in a single segment. Hence, no separate segmentwise information is given.

4. Disclosure in pursuant to AS-19 Leases

Operating Lease : The company has not taken any Premises on lease

5. Previous year''s figures

Comparable figures have been regrouped/reclassified wherever necessary.

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Mar 31, 2012

1. Borrowing Costs

No Borrowing Cost has been Capitalised during the year

2. Segment Information:

The Company is operating in a single segment. Hence, no separate segmentwise information is given.

3. Disclosure in pursuant to AS-19 Leases

Operating Lease: The company has not taken any Premises on lease

4. Hitherto the applicability of revised Schedule VI from the current year, the Company has reclassified previous year figures to conform to this year's classification. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of the financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of Balance Sheet.

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Mar 31, 2010

1. Related Party Transactions :

The Company has transactions with the following related parties :

Associates : Tokyo Plast International Limited, Tokyo Constructions Limited

2. Company has not owed any sum to Small Scale Industrial undertakings during the year

3. Figures of the previous year have been regrouped / rearranged whereever necessary.

v. Generic Names of Three Principal Products of The Company (as per Monetary Terms)

Item Code No. (ITC Code) : N.A.

Product / Service Description : Financial Activities