Notes to Accounts of Voltaire Leasing & Finance Ltd.

Mar 31, 2024

1.18 Provisions, contingent liabilities and contingent assets:

Provisions are recognised only when:

i. an Company entity has a present obligation (legal or constructive) as a result of a past event; and

ii. it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation; and

iii. a reliable estimate can be made of the amount of the obligation

Provision is measured using the cash flows estimated to settle the present obligation and when the effect of time
value of money is material, the carrying amount of the provision is the present value of those cash flows.
Reimbursement expected in respect of expenditure required to settle a provision is recognised only when it is
virtually certain that the reimbursement will be received.

Contingent liability is disclosed in case of:

i. a present obligation arising from past events, when it is not probable that an outflow of resources will be
required to settle the obligation; and

ii. a present obligation arising from past events, when no reliable estimate is possible.

Contingent assets are disclosed where an inflow of economic benefits is probable. Provisions, contingent liabilities
and contingent assets are reviewed at each Balance Sheet date.

Where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected
to be received under such contract, the present obligation under the contract is recognised and measured as a
provision.

1.19 Statement of cash flows:

Statement of cash flows is prepared segregating the cash flows into operating, investing and financing activities.
Cash flow from operating activities is reported using indirect method adjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a non-cash nature;

ii. non-cash items such as depreciation, provisions, deferred taxes, realized gains and losses; and

iii. all other items for which the cash effects are investing or financing cash flows.

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are
not available for general use as on the date of Balance Sheet.

1.20 Earnings per share:

The Company presents basic and diluted earnings per share data for its ordinary shares. Basic earnings per share is
calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted
average number of ordinary shares outstanding during the year. Diluted earnings per share is determined by

adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of ordinary shares
outstanding, adjusted for own shares held, for the effects of all dilutive potential ordinary shares.

1.21 Key source of estimation:

The preparation of financial statements in conformity with Ind AS requires that the management of the Company
makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the
reported balances of assets and liabilities and the disclosures relating to contingent liabilities as of the date of the
financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates include useful lives of property, plant and equipment & intangible assets, expected credit loss
on loan books, future obligations in respect of retirement benefit plans, fair value measurement etc. Difference, if
any, between the actual results and estimates is recognised in the period in which the results are known.

1.22 Changes in Accounting Standard and recent accounting pronouncements (New Accounting Standards issued
but not effective):

On March 30, 2021, the Ministry of Corporate Affairs issued the Companies (Indian Accounting Standards)
(Amendments) Rules, 2019, notifying Ind AS 116 on Leases. Ind AS 116 would replace the existing leases standard Ind
AS 17. The standard sets out the principles for the recognition, measurement, presentation and disclosures for both
parties to a contract, i.e. the lessee and the lessor. Ind AS 116 introduces a single lease accounting model and requires
a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying
asset is of low value. Currently for operating lease, rentals are charged to the statement of profit and loss. The
Company is currently evaluating the implication of Ind AS 116 on the financial statements.

The Companies (Indian Accounting Standards) Amendment Rules, 2019 notified amendments to the following
accounting standards. The amendments would be effective from April 1, 2019

a) Ind AS 12, Income taxes — Appendix C on uncertainty over income tax treatments

b) Ind AS 19— Employee benefits

c) Ind AS 23 - Borrowing costs

d) Ind AS 28— investment in associates and joint ventures

e) Ind AS 103 and Ind AS 111 — Business combinations and joint arrangements

f) Ind AS 109 — Financial instruments

The Company is in the process of evaluating the impact of such amendments.

1.23 Inventories

Inventories have been valued at the method prescribed in the Accounting Standards.

1.24 Other Income Recognition

Interest on Loan is booked on a time proportion basis taking into account the amounts invested and the rate of
interest.

Dividend income on investments is accounted for when the right to receive the payment is established.

1.25 Purchases

Purchase is recognized on passing of ownership in share based on broker''s purchase note.

1.26 Expenditure

Expenses are accounted for on accrual basis and provision is made for all known losses and liabilities.

1.27 Investments

Current investments are stated at the lower of cost and fair value. Long-term investments are stated at cost. A
provision for diminution is made to recognise a decline, other than temporary, in the value of long-term investments.
Investments are classified into current and long-term investments.

Investments that are readily realisable and are intended to be held for not more than one year from the date, on
which such investments are made, are classified as current investments. All other investments are classified as non¬
current investments.

1.28 Related Parties

Parties are considered to be related if at any time during the reporting period one party has the ability to control the
other party or exercise significant influence over the other party in making financial and/or operating decisions.

As required by AS-18 "Related Party Disclosure" only following related party relationships are covered:

i. Enterprises that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are
under common control with, the reporting enterprise (this includes holding Companies, subsidiaries and fellow
subsidiaries);

ii. Associates and joint ventures of the reporting enterprise and the investing party or venture in respect of which
the reporting enterprise is an associate or a joint venture;

iii. Individuals owning, directly or indirectly, an interest in the voting power of the reporting enterprise that gives
them control or significant influence over the enterprise, and relatives of any such individual;

iv. Key management personnel (KMP) and relatives of such personnel; and

v. Enterprises over which any person described in (iii) or (iv) is able to exercise significant influence.

1.29 Stock I n T rade

Shares are valued at cost or market value, whichever is lower. The comparison of Cost and Market value is done
separately for each category of Shares.

Units of Mutual Funds are valued at cost or market value whichever is lower. Net asset value of units declared by
mutual funds is considered as market value for non-exchange traded Mutual Funds.

1.30 Fair Value Hierarchy

Level 1 - Quoted prices (unadjusted) 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).

1.31 Financial Risk Management Objectives and Policies:

The Company''s activities are exposed to a variety of Financial Risks from its Operations. The key financial risks
include Market risk, Credit risk and Liquidity risk.

i. Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises mainly three types of risk, foreign currency risk, Interest rate
risk and other price risk such as Equity price risk and Commodity Price risk.

ii. Foreign Currency Risk:

There are no Foreign Currency transactions during the financial year.

iii. Foreign Currency Sensitivity:

There are no Foreign Currency transactions during the financial year.

iv. Credit Risk:

Credit risk is the risk that counterparty might not honor its obligations under a financial instrument or
customer contract, leading to a financial loss. The company is exposed to credit risk from its operating
activities (primarily trade receivables).

v. Trade Receivables:

Customer credit risk is managed based on company''s established policy, procedures and controls. The
company assesses the credit quality of the counterparties, taking into account their financial position, past
experience and other factors.

Credit risk is reduced by receiving pre-payments and export letter of credit to the extent possible. The
Company has a well-defined sales policy to minimize its risk of credit defaults. Outstanding customer
receivables are regularly monitored and assessed. The Company follows the simplified approach for

recognition of impairment loss and the same, if any, is provided as per its respective customer''s credit risk as
on the reporting date.

vi. Liquidity Risk:

Liquidity risk is the risk, where the company will encounter difficulty in meeting the obligations associated
with its financial liabilities that are settled by delivering cash or another financial asset. The company''s
approach is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due.

1.32 Summary of Significant Accounting Policies General

• Contingent Liabilities & Commitments - Nil

• Additional Information disclosed as per Part II of the Companies Act, 2013 - Nil

1.33 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 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the
balance sheet.

1.34 Earnings/(loss) per share computation method

i. Basic earnings/ (loss) per share

Basic earnings / (loss) 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.

ii. Diluted earnings / (loss) per share

Diluted earnings / (loss) 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.

Note 22 — Contingent Liabilities not provided for

The Company does not have any contingency Liability as on the Closing of current financial year.

Note 23: Corporate Social Responsibility

The Company does not meet the criteria specified in sub section (1) of section 135 of the Companies Act, 2013, read with
Companies [Corporate Social Responsibility (CSR)] Rules, 2014. Therefore it is not required to incur any expenditure on
account of CSR activities during the year.

Note 24: Segment Reporting -

The company is primarily engaged in the single business of trading in shares and securities and there is no reportable
secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17
"Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

Note 28:

There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding
for more than 45 days as at March 31, 2024. This information as required to be disclosed under Micro, Small and
Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on
the basis of information available with the Company.

Note 29: Other Notes to Accounts

i. In the opinion of the management, current assets, loans and advances and other receivables are
approximately of the value stated, if realized in the ordinary course of business. The provisions of all known
liability are ascertained, except for Trade Receivables. Since the receivables are dues for more than one year,
we are not certain about the recoveries of the same. The Company is confident of receiving the dues and
hence no contingency liabilities have been provided.

ii. Previous year figures have been restated to confirm the classification of the current year.

iii. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to
reconciliation, since conformations have not been received from them. Necessary entries will be passed on
receipt of the same if required.

As per our Report of Even date For & on behalf of the Board

For MAHESHWARI & CO.

Chartered Accountants

FRN- 105834W ^S_D^/d- _ ^S/d''

Alok Kr. Behera Swagata Dasgupta

d Managing Director Director

(DIN: 00272675) DIN : 08212560

PAWAN GATTANI

Partner

Membership No: 144734

UDIN: 24144734BKBINY8800 S/d- S/d-

Minakshi Naruka Priyanka Bhauwala

Mumbai, Date: May 27, 2024 CFO Company Secretary

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Mar 31, 2015

Note 1 : SEGMENT INFORMATION (as-17)

i. The Company's business segments are identified around products in which company deals.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financial statements.

iv. Figures in brackets are in respect of the previous year.

note 2. : RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

a) directors

- Amlesh Sadhu - Managing Director

- Nirmal Kr. Manna - Director

- Dilip R. Patodia - Director

- Ravi Saraswat - Director

a) relationships

a) related parties where common control exists

Name of the Companies where the directors can exercise the control

- Shree Nidhi Trading co.Ltd

- PyzinaTraders Private Limited

- KathakaliVincomPrivate Limited

- ShreehariVinimay Pvt. Ltd.

- Sidhivinayak Broking Limited

b) key management Personnel

Amlesh Sadhu - Managing Director

Dilip R Patodia - Director

c) transactions with related Parties-

During the year under consideration no transactions with related party were entered into.

note 3: earning Per share

No Potential Equity Shares were outstanding as on 31.03.2015 and hence Basics and Diluted Earnings Per Shares are Same.

note 4: contingent liabilities & Provisions

In View of the management there are no contingent liabilities and commitments against the company.

note 5: deferred tax

During the year there are no transactions leading to timing differences resulting to deferred tax liability. Following the concept of Prudence Company has not recognized any deferred tax assets.

note 6.

Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

note 7

In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

note 8.

The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

note 9

Previous year's figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.

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Mar 31, 2014

Note 1: SEGMENT INFORMATION (AS-17)

i. The Company''s business segments are identified around products in which company deals.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation ofreportable segments with the financial statements.

iv. Figures in brackets are in respect of the previous year.

C) Transactions with Related Parties-

During the year under consideration no transactions with related party were entered into.

Note 2: EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2013 and hence Basics and Diluted Earnings Per Shares are Same.

Note 3: Contingent Liabilities & Provisions

In View of the management there are no contingent liabilities and commitments against the company.

Note 4: In view of the Management provision for gratuity is not required since none of the employee had worked for more than 6 months during the year.

Note 5: Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt ofthe same if required.

Note 6: In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 7: The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

Note 8: The Company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS - 15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Profit & Loss Account.

Note 9: Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.

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Mar 31, 2013

Note 1: SEGMENT INFORMATION (AS-17)

During the year company has not carried out any business activity except for the trading of Shares and Securities and hence Accounting Standard 17 SEGMENT INFORMATION is not applicable.

Note 2: RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

A) Directors

- Amlesh Sadhu - Managing Director

- Harivallabh P. Mundhra - Director

- Nirman Kr. Manna - Director

- Shreevallabh Mundhra - Director

B) Relationships

a) Related parties where common control exists

Not Any

b) Key Management Personnel

Amlesh Sadhu - Managing Director

Harivallabh P. Mundhra - Director

Nirman Kr. Manna - Director

Shreevallabh Mundhra - Director

C) Transactions with Related Parties

During the year under consideration no transactions with related party were entered into.

Note 3: EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2013 and hence Basics and Diluted Earning Per Shares are Same. Basic Earning Per Share/ Diluted Earning Per Share

Note 4: Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

Note 5: In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 6: The Company has issued 27,78,000 new Equity Shares. These shares have been allotted at a price of Rs. 50/- each which is in accordance with the Preferential Issue Guidelines issued by Securities and Exchange Board of India.

Note 7: The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

Note 8: The Company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS - 15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Profit & Loss Account.

Note 9: Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.

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Mar 31, 2009

I) Previous years figures are regrouped, re-arrange and re-classified wherever considered necessary

2) In the opinion of the Board, adequate provision has been made for all known liabilities and the s; is no! in excess of amounts considered reasonably necessary.

3} The provision of" Provident Fund Act and Gratuity Act are not applicable to the Company.

4) In the opinion of the Board the Loans and Advances are approximately of the value stated in the Balancesheel if realised in the ordinary course of business, loans and advances are subject to confirmation from concerned parties.

5. The Company has been advised that as there is no tax effect of timing difference based on estimated computation for reasonable period, there is no provision for deferred tax, in terms of Accounting Standard (AS 22) on "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

6. As of 31st March 2009 the company had no outstanding dues to small -scale Industrial Undertakings

7. Accounting Standard (AS-18) "Related parry Disclosure" Name of related parties and description of Relationship

1. Subsidiaries NIL

2. Associates NIL

3. Key Managerial Personal Shri Harivallabh Mundhra

Shri Shreevallabh Mundhra

4. Relatives of key Mangement Smt. Kamladevi Mundhra (Mother of Directors) Personnel Smt. Kiran Mundhra (Wife of Director)

Shri Brijnandan Mundhra (Son of Director)

Miss Nupur Mundhra (Daughter of Director)

Miss Supriya Mundhra (Daughter of Director)

Sunaina Mundhra (Daughter of Director)

Yashonandnan Mundhra (Son of Director)

8. Enterprise under significant influence of key management personal or their relatives.

Name of key managerial Name of

personnel & Relatives Enterprises Nature of Relatives

Harivallabh Mundhra Chairmai Shee N.M of Bombay Directors HUF is Partner in Firm and Directors of Voltaire Leasing & Finance Ltd.

Nandan Holdings Pvt.Ltd. Brother Shreevallbh Mundhra and self are Director

Asian Engg. Corporation Director is partner in firm

Creative Lights Pvt. Ltd Brother Shreevallbh & Self are Director in Co.

Shreevallabh Mundhra Director Puja Electricals Pvt. Ltd. Director in co.

Voltaire Leasing & Finance Ltd. Shree N M Electr -icals Ltd Brother Shreevallbh & Self are Director in Co.

9. Disclosures of Transaction between the group and related parties and status of outstanding Balan. as at 31st March 2009 (Fig.In Braket are of Previousv Year)

Name of Related Relationship Nature of Amount D/S Balance Parties Transaction as on B/S date

Shree N M Electr icals Ltd Directors HUF Sales of Cable 7279472.00 10980971 is partner Wire Dr.Bal. in Firm (7607817) (11395160)

Dr.Bal.