Notes to Accounts of Viji Finance Ltd.

Mar 31, 2024

* The Authorized Share Capital of the Company has been increased from Rs. 11.00 Crore (divided into 11,00,00,000 Equity Shares of Re. 1 each) to Rs. 18.00 Crore (divided into 18, 00, 00,000 Equity Shares of Re. 1 each after obtaining approval from shareholders in the EGM held on 30.11.2023.

d. Terms/rights attached to equity shares:

The company has only one class of equity shares having a par value of Rs. 1 per share (31st March 2024: Rs. 1/- per share). Each holder of equity shares is entitled to one vote per share. The dividend, in case proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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 distribution of all preferential amounts, in proportion to their shareholding.

14.1 Statutory Reserve :

"Statutory Reserve represents the Reserve Fund created under Section 45 IC of the Reserve Bank of India Act, 1934. An amount of Rs. 2.40 /-Lakhs representing 20% of Net Profit is transferred to the Fund for the year (Previous Year: Rs. 8.81 Lakhs/- ). No appropriation was made from the Reserve Fund during the year."

23 Loans & Advances are subject to confirmation.

24 During the year company has complied with the guidelines issued by the Reserve Bank of India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

26 Additional information pursuant to provisions of schedule III of the Companies Act, 2013.

Expenditure incurred in CIF Value of Imports of Capital Goods - Nil

Expenditure incurred in foreign currency during the year - Nil

27 Retirement Benefits: Indian Accounting Standard - 19 "Employees Benefits" not applicable

28 Contingent Liabilities: NIL

29 As per the definition of Business Segment and Geographical Segment contained in Indian Accounting Standard 108 “Segment Reporting”, the management is of the opinion that the Company’s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Indian Accounting Standard 108 is not required to be disclosed.

30 Details of amounts due to Micro, Small and Medium Enterprise under the head current liabilities, based on the information available with the Company and relied upon by the auditors- Nil (Previous Year - Nil).

31 In the opinion of the management, all current assets, loans and advances would be realizable at least an amount equal to the amount at which they are stated in the Balance Sheet. Also there is no impairment of fixed assets.

Note : The Board of Directors of the company in their meeting held on 10thJanuary, 2024 had disposed off all the investment in wholly owned subsidiary Company i.e Viji Housing Finance Limited, consequently such company ceased from the status of wholly owned subsidiary company w.e.f. 10th January, 2024.

Capital Adequacy Ratio

As per the Master Direction DNBR.PD.007/03.10.119/2016-17 dated September 01,2016 issued by the Reserve Bank of India, the requirement of maintaining Capital to Risk Weighted Assets Ratio (“CRAR”) is applicable only to the NBFC- Systemically Important Non-Deposit taking (NDSI) and NBFC -Deposit Taking. Furthermore, as per the audited balance sheet as at 31st March 2024, the asset size of Viji Finance Limited is less than Rs. 500 crores, Therefore, the company falls under the category of Non-Systemically Important Non-Deposit Taking NBFC. Consequently, the capital adequacy norms issued by the RBI, specifically the requirement of maintaining Capital to Risk Weighted Assets Ratio (“CRAR”) by NBFCs, are not applicable to our company, as it is classified as a Non-Systemically Important Non-Deposit Taking NBFC.

Level 1 : Category include financial assets and liabilities that are measured in whole or significantly part by reference to published quotes in an active market.

Level 2 : Category include financial assets and liabilities that are measured using a valuation technique based on assumptions that are supported by prices from observable current market transactions.

Level 3 : Category include financial assets and liabilities that are measured using valuation technique based on non-market observable inputs. This means that fair value are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

II. Financial instruments measured at fair value

Financial assets measured at fair value includes cash and cash equivalents, loans and other financial assets. These are financial assets whose carrying amounts approximate fair value .

Additionally, Financial liabilities such as trade payables, borrowings and other financial liabilities are measured at FVTPL, whose carrying amounts approximate fair value.

36 The company has a risk management framework, appropriate to the size of the Company and environment under which it operates.

The objectives of its risk management framework is to ensure that various risks are identified, measured and mitigated and also that policies, procedures and standards are established to address these risks and ensure a systematic response in the case of crystallisation of such risks. The Board of Directors reviews these policies and processes regularly and is periodically informed about the risk management. Impact of risk on the business and mitigation plans . The Company is exposed to following risk-

A. Credit risk

Credit risk is the risk that the Company will incur a loss because its customers or counterparties fail to discharge their contractual obligations. The Company manages and controls Credit risk by setting limits on the amount of risk it is willing to accept for individual counterparties,and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carring amount of that class of financial instruments presented in the financial statements. The Company''s major classes of financial assets are cash and cash equivalents and loans.

Deposits with banks are considered to have negligible risk or nil risk, as they are maintained with high rated banks / financial institutions as approved by the Board of directors. The management has established accounts receivable policy under which customer accounts are regularly monitored.

B. Liquidity risk

Liquidity risk is the risk that the entity will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial assets. The entity''s approach to managing liquidity is to ensure , as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due , under both normal and stressed conditions , without incurring unacceptable losses or risking damage to entity''s reputation.

Prudent liquidity risk management requires sufficient cash and availability of funds through adequate committed credit facilities to meet obligations when due and to close out market positions.

Ultimate responsibility for liquidity risk management rests with the board of directors. for the management of the company''s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows , and by matching the maturity profiles of financial assets and liabilities.

C. Market risk

Maket Risk is the risk that the fair value of future cash flow of financial instruments will fluctuate due to changes in market variables such as interest rates foreign exchange rates etc. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while maximising the return.

(i) Currency Risk

Currency Risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company''s all transactions are denominated in indian rupees only. Hence, the Company is not significantly exposed to currency rate risk.

(ii) Interest Rate Risk

Interest Rate Risk is the risk that the fair value or future cash flow of a financial instrument will fluctuate as result of changes in market interest rates. The Company''s Loans and borrowings both are primarily in fixed interest rates. Hence the Company is not significantly exposed to interest rate risk.

37 Capital Management

The Company''s objectives when managing capital are to safeguard their ability to continue as a going concern , so that they can continue to provide return for shareholders and benefits for other stakeholders, and maintain an optimal capital structure to reduce the cost of capital.

39 Additional Regulatory Information as per Companies Act, 2013

1. The company does not own any immovable property

2. The company has not revalued its Property,Plant and Equipment.

3. There is no amount outstanding for loans or advances granted in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act 2013)

4. No proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act 1988 (45 of 1988) and the rules made thereunder.

5. The company is not declared wilful defaulter by any bank or financial institution or other lender.

6. The company has not entered into transactions with companies struck off under section 248 ofthe Companies Act, 2013 or section 560 of Companies Act, 1956.

7. The company has not applied for any Scheme of Arrangements in term of sections 230 to 237 ofthe Companies Act, 2013.

8. (a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or

kind of funds ) by the company to or in any other person(s) or entity(ies),including foreign entities ("intermediaries"), with the understanding, whether recorded in writing or otherwise , that the intermediary shall, whether, directly or indirectly lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries") or provide any guarantee , security or the like on behalf ofthe Ultimate Beneficiaries.

(b) No funds have been received by the company from any person(s) or entity(ies), including foreign entities ("Funding Parties"),with the understanding ,whether recorded in writing or otherwise , that the company shall , whether , 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 provide any guarantee , security or the like on behalf ofthe Ultimate Beneficiaries.

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

10. Provisions of Section 135 of the Companies Act, 2013 does not apply to the Company as Company does not fall under any of the criteria specified under above referred section therefore Company has not constituted Corporate Social responsibility (CSR) committee as required under the Act.

11. All charges or satisfaction are registered with ROC within the statutory period for the financial years ended March 31, 2024 and March 31,2023. No charges or satisfactions are yet to be registered with ROC beyond the statutory period.

12 . There is no undisclosed income in the books ofaccounts.

13. The company has does not have any borrowing from Banks or FIs against security of current assets.

14. The Company has not used the borrowings from banks and financial institutions for the purpose other than for which it was taken.

15. The company does not hold any intangible assets and thus no revaluation is done.

42 Events after Reporting Date

There have been no events after the reporting date that required disclosure in these financial statements.

43 Approval of Financial Statements

The Financial Statements are approved for issue by the Board of Directors in their meetings held on 09.04.2024

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Mar 31, 2017

1. Confirmation in respect of the khan# and advance have not been received

2. The Board has been recommended a dividend @ 1% i.e. Rs. 0.01 per equity share of Rs l/-each for the financial year ended March 31, 2017, subject to the approval of slaveholders in the ensuing Annual General Meeting.

3. During the year company has complied with the guidelines issued by the Reserve Bank of India In respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

4. Additional information pursuant to provisions of paragraph 5 of schedule III of the Companies Act 2013.

Expenditure incurred in foreign currency during the year Nil CIF Value of Imports of Capital Goods Nil

5. Retirement Benefits: Accounting Standard -15 ''Employees Benefits" not applicable

6. Contingent Liabilities: NIL

7. As per the definition of Business Segment and Geographical. Segment contained in Accounting Standard 17 “Segment Reporting". the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one importable business segment nor more than one reportable geographical segment finder therefore, segment information as per Accounting Standard 17 is not required to be disclosed.

8. Details of amounts due to Micro, Small and Medium Enterprise under the head current liabilities, based on the information available with the Company and relied upon by the auditors- Nil (Previous Year - Nil)

9. In the opinion of the management, at current assets, loans anti advances would be realizable at least an amount equal to the amount at which they are stalled in the Balance Sheet. Also there is no impairment of fixed assets.

10. During the year company has formed two 100% wholly owned subsidiaries.

11. M/s S. L. Developers Pvt Ltd

12.. M/s Viji Housing Finance HJ

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Mar 31, 2016

1. Confirmation in respect of the loans and advance have not been received.

2. Short terms loans and advances include amount of Rs. 2,99,800/- which is given to shareholders of S L Developers Pvt. Ltd. to purchase of shares.

3. The Board has been recommended a dividend @ 3% i.e. Rs. 0.30 per equity share of Rs. 10/-each for the financial year ended March 31, 2016, subject to the approval of shareholders in the ensuing Annual General Meeting.

4. During the year company has complied with the guidelines issued by the Reserve Bank o f India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

5. Assets classification 8s Provision there on: -

6. Retirement Benefits: Accounting Standard -15 "Employees Benefits" not applicable

7. Contingent Liabilities: NIL

8. As per the definition of Business Segment and Geographical Segment contained in Accounting Standard 17 “Segment Reporting”, the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.

9. Details of amounts due to Micro, Small and Medium Enterprise under the head current liabilities, based on the inform take available with the Company and relied upon by the auditors- Nil (Previous Year - Nil).

10. Disclosure pursuant to Rdated party disclosure (Accounting Standard -18)

Key Management Personnel & Relatives

Shri Vijay Kothari Director

Shri Manish Tambi Whole Time Director

Shri. Suresh Singh Jain Independent Director

Shri Hiren Kamdar Independent Director

Ms. Roshani Maheshwari Independent Director

Ms. Shilpa Kothari Relative of Director

Ms. Neha Tambi Relative of Director

Arushi Homes As sociate firm

11. Previous year''s figures have been reclassified regrouped and rearranged wherever found necessary to make them comparable.

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Mar 31, 2015

1.Terms/rights attached to equity shares:

The company has only clases of equity shares having a par value of Rs.10 per share Each holder of equity shares is entitled to one vote per share.

2. In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as

3. Confirmation in respect of the any ofdebit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can't be ascertained.

4. The Board of Directors of the Company has passed a resolution for not holding an) public deposit as on date as well as non acceptance of any public deposit in future without obtaining written prior permission from the Reserve Bank of India, accordingly the company has not accepted any public deposit during lhe financial year ended on J1 1 March, 2015.

5. The Board of Director have recommended a dividend q 3% t,e. Rs. 0.30 per equity share of Rs, 10/-each for the financial year ended March 31,2015.

6. During the year company has complied with the guidelines issued by the Reserve Bank of India m respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

7. Expend t mre incurred in foreign currency during the year NIL

8. Re li remem Benefits: These a re no t appli ca ble.

9. Contingent Liabilities: NIL

10. No contracts-remains to be executed on capital Account and not provided for as. on 31 March. 2015.

11. Expenditure in foreign currency: NIL

12. C.I.F. value of imports: NIL

13. The companv is a public limited company and listed in stock exchanges.

14 In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

15. The company owes no dues to small and medium enterprises which are outstanding for more than 45 days at the balance sheet date.

16. During the year, lire company has revised its estimates of useful life of its fixed assets as prescribed in Part C in Schedule II of the Company's Act 2013. Caring amount less residual value of the assets whose remaining useful life lias become Nil has been adjusted with the opening balance of retained earnings.

17. Related party disclosure [AccountingStandard - 18)

Key.Management Personnel Sa Relatives

Shri Vijay Kothari Director

Shri ManishTambi Whole Time Director

Shri.Suresh Singh Jain Independent Director

Shri Hiren Kamdar Independent Director

MsRoshaniM ahe sh wan LndependcntDirector

Ms. Shilpa Kothari Relative of Director

Ms. Neha Tambi Relative of Director

Arusht Homes Associate firm

18. PixVtous war's iiyurea have htvn rwlassi/ivil regrouped and rearaanged Win-(ever found ncossiir}1 to make them comparable

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Mar 31, 2014

1. INCOME/EXPENDITUREDURINGTHE CONSTRUCTION PERIOD

No construction activities undertaken during the year hence not applicable.

2. INVENTORIES

No inventory held, hence notapplicable.

3. RESEARCH AND DEVELOPMENT

Beingfinance company no research activity carried outhence notapplicable

4. In opinion of the Board, the provision for known liabilities are adequate

a) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

b) Assets classification & Provision there on: -

c) Expenditure incurred in foreign currency during the year Nil.-

d) Fixed Assets: Fixed Assets has been shown at cost price including all installation expenses.

e) Deprecation has been charged on S.L.M. as prescribed under the Companies Act. 1956.

f) Retirement Benefits: These are not applicable.

g) Investment Investments are value at cost price.

h) Contingent Liabilities: NIL

i) No contracts-remains to be executed on capital Account and not provided for as on 31st March, 2014.

j) Expenditure in foreign currency: NIL

k) C.I.F value of imports: NIL

l) The company is a public limited company but it has listed in stock exchanges during the year.

m) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

Related party disclosure (Accounting Standard -18]

Key Management Personnel & Relatives

Shri Vijay Kothari Director

Shri Manish Tambi Whole Time Director

Shri Manish Sanghavi Director

Shri Suresh Singh Jain Director

Shri Hiren Kamdar Director

n) Earning per share

Profit (Loss) per share in based on profit (loss) for the year after tax reported in the Profit and Loss account, divided by 7500000 equity shares issued.

o) Previous year''s figures have been reclassified regrouped and rearranged wherever found necessary to make them comparable.

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Mar 31, 2012

A) INCOME RECOGNITION

Interest and other income are accounted on accrual basis on loans & advance but where receipt of interest is doubtful/ N.P.A. no provision has been made in the books.

b) During the year company has complied with the guidelines issued by the Reserve Bank of India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

c) BORROWING COST: borrowing cost that is attributable to the acquisition construction or production of qualifying assets are capitalizes as part of the cost of such assets. All other borrowing costs are recognized as an expense in period which they are incurred.

d) EXPENSES

It is the policy of the company to provide all the expenses on accrual basis.

e) PROFIT AND LOSS ACCOUNT

f) In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as least equal the amount at which these are stated.

g) Confirmation in respect of the any of debit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can''t be ascertained.

h) Previous year''s figures have been reclassified regrouped and rearranged wherever found necessary to make them comparable.

i) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

j) In view of the unsatisfactory business environment, the company does not expect sufficient future taxable income. As such the company has not recognized any deferred tax assets/ liabilities in accordance with Accounting Standard 22 "Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

k) Fixed Assets: Fixed Assets has been shown at cost price including all installation expenses.

l) The company is a public limited company ,but it has listed in stock exchanges during the year.

m) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

n) Profit (Loss) per share

Profit (Loss) per share in based on profit (loss) for the year after tax reported in the Profit and Loss account, divided by 3000000 equity shares issued.

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Mar 31, 2011

A) INCOME RECOGNITION

Interest and other income are accounted on accrual basis on loans & advance but where receipt of interest is doubtful/ N.P.A. no provision has been made in the books.

b) During the year company has complied with the guidelines issued by the Reserve Bank of India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

c) BORROWING COST: borrowing cost that is attributable to the acquisition construction or production of qualifying assets are capitalizes as part of the cost of such assets. All other borrowing costs are recognized as an expense in period which they are incurred.

d) EXPENSES

It is the policy of the company to provide all the expenses on accrual basis.

1. Audit Fees 10000/-

e) PROFIT AND LOSS ACCOUNT

f) In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as least equal the amount at which these are stated.

g) Confirmation in respect of the any of debit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can''t be ascertained.

h) Previous year''s figures have been regrouped and rearranged wherever necessary.

i) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

j) In view of the unsatisfactory business environment, the company does not expect sufficient future taxable income. As such the company has not recognized any deferred tax assets/ liabilities in accordance with Accounting Standard 22 "Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

k) Expenditure incurred in foreign currency during the year Nil.- n) Fixed Assets: There is Fixed Assets.

l) Contingent Liabilities: NIL

M) Preliminary & preoperative expenses, Capital issue expenses are amortized equally over a period of ten years.

N) The company is a public limited company ,but it has not listed in stock exchanges during The year.

O) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

Profit (Loss) per share in based on profit (loss) , for the year after tax reported in the Profit and Loss account, divided by 3000000 equity shares issued.