Notes to Accounts of Wagend Infra Venture Ltd.

Mar 31, 2024

6. Provisions and Contingent Liabilities:

Provisions involving substantial degree of estimation in measurement are recognized at the
balance sheet date when:

a) There is a present obligation because of past events.

b) There is a probability that there will be an outflow of resources.

c) The amount of obligation can be reliably estimated.

Contingent Liabilities are not recognized but are disclosed in the notes in case of:

a) a present obligation arising from a past event, when it is not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount of
obligation cannot be made.

b) a possible obligation arising from past events, the existence of which will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.

7. Investments:

Long Term Investments are valued at cost. Diminution in value if any, which is of a temporary
nature, is not provided. However, the company has no Long-Term Investments.

Investments that are readily realizable and intended to be held for not more than a year from
the date on which such investments are made are classified as current investments. Current
Investments are valued at cost or fair market value whichever is low.

8. Inventories:

Inventories are valued at lower of cost or Market value.

9. Impairment of Assets:

The carrying amounts of assets are reviewed at each Balance Sheet date if there is any
indication of impairment based on internal / external factors. Impairment loss, if any, is
provided in the Profit and Loss Account to the extent of carrying amount of assets exceeds
their estimated recoverable amount.

10. Employee Benefits:

As per management''s view none of the current employees shall complete their term of service
of five years, hence actuarial valuation of gratuity is not done.

11. Taxes on Income:

Current Tax represents the amount of Income Tax payable in respect of the taxable income
for the reporting period as determined in accordance with the provisions of the Income Tax
Act, 1961.

Deferred tax assets and liabilities from timing differences between taxable income and
accounting income for the year is accounted for using tax rates and laws that have been
substantively enacted as on the balance sheet date. Deferred tax assets arising from timing
differences are recognized to the extent there is virtual / reasonable certainty in their
realization.

12. Cash Flow Statement:

Cash flow Statement is reported using the indirect method, whereby profit / loss before
extraordinary items and tax is adjusted for the effects of transactions of non - cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are segregated based on the
available information.

13. Cash & Cash Equivalent:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which
can be withdrawn by the company at any point in time.

14. Earnings per Share (EPS)

Basic EPS is computed by dividing the net profit for the year attributable to the Equity
shareholders by the weighted average number of equity shares outstanding during the period.
Diluted EPS is computed by dividing the net profit for the year, adjusted for the effects of
dilutive potential equity shares, attributable to the equity shareholders by weighted average
number of equity shares and dilutive potential equity shares outstanding during the year -
end, except where the results would be anti-dilutive.

2.22. Sundry Debtors and Receivables:

Sundry Debtors and Loans and Advances are stated at the value if realized in the ordinary
course of business. Irrecoverable amounts, if any, are accounted and/or provided for as
per the management''s judgment or only upon final settlement of accounts with the parties.

2.23. Inventories:

The inventories consist of shares of listed companies. Valuations of the same were done
at cost or net realizable value whichever is low. The shares were completely sold off in the
Financial Year 2023-24. Investments in Sam Leaseco Ltd and Unno Industries were
completely written off on account of delisting.

2.24. Other Liabilities:

There was a fine imposed on the company to the tune of INR 2.04 Lacs on account of delay
in compliance of Company SOP. The same was paid in the month of Dec-23.

2.25. In the Opinion of the Directors:

The Current Assets and Loans & Advances are approximately of the value stated in the
financial statement, if realized in the ordinary course of business.

The provision for depreciation and for all known liabilities is adequate and not in excess
of the amount reasonably necessary.

2.26. Segment Reporting:

As the company operates in only one business and operates only in one geographical
segment i.e., domestic, the disclosure requirements under Ind - AS 108 - “Operating
Segment” is not required.

2.31. Reporting under Schedule V of SEBI (LODR), 2015, with respect to loan given to subsidiary
or Associates is not applicable to the company, as the Company does not have subsidiary
or Associates Company as defined under section 186 of the Companies Act, 2013 and no
loans and advances are given which is outstanding for a period of more than seven years.

2.32. Foreign Currency Exposure:

Earnings and expenditure in foreign currency during the current and previous financial
year - NIL

2.33. Disclosure as per IND AS-101 First time adoption of Indian Accounting Standards: The
Company has prepared the opening Balance Sheet as per Ind-AS as of 1^st April 2016 (the
transaction date) by recognizing all assets and liabilities whose recognition is required by
Ind AS and prepared the financial statements accordingly.

2.34. There was no amount due as on 31^st March 2024 as reported to us from/to Micro, small &
Medium Enterprises as per MSMED Act, 2006.

2.35. There is no amount due and outstanding to be credited to Investors Education &
Protection Fund.

2.36. Previous year''s figures have been regrouped / reclassified wherever necessary to
correspond with the current year''s classification / disclosure.

2.37. Other Statutory Information:

1. The Company does not have any Benami property, where any proceeding has been
initiated or pending against the Company for holding any Benami property.

2. The Company does not have any immovable properties whose title deeds are not held in
the name of the Company.

3. The Company does not have any transactions with companies which are struck off.

4. The Company does not have any charge or satisfaction which is yet to be registered with
ROC beyond the statutory period.

5. The Company has not traded or invested in crypto currencies or Virtual Currency during
the financial year.

6. The Company has not advanced or loaned or invested funds to any other person(s) or
entity(ies), including foreign entity(ies), (intermediary) with the understanding that the
intermediary shall:

a. 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

b. provide any Guarantee, Security, or the like to or on behalf of the Ultimate
beneficiaries.

7. The Company has not received fund from any person(s) or entity(ies), including Foreign
Entity(ies), (Funding Party) with the understanding (whether recorded in writing or
otherwise) that the Company shall:

a. 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

b. provide any Guarantee, Security, or the like to or on behalf of the Ultimate
beneficiaries.

8. The Company does not have any such transaction which is not recorded in the books of
accounts that has been surrendered or disclosed as income during the period in the tax
assessments under the Income Tax Act, 1961 (such as search or survey or any other
relevant provisions of the Income Tax Act, 1961.

9. The Company has complied with the number of layers prescribed under clause (87) of
section 2 of the act read with the Companies (Restriction on Number of Layers) Rules,
2017.

10. The Company is not declared a willful defaulter by any bank or financial institution or
lender during the year.

11. Disclosure on Rule 11(e) of the Companies (Audit and Auditors) Rules 2014:

“The Company, as mentioned in its Memorandum of Association and Articles of
Association is engaged in nature of business(s) as described in Note 1 of Financial
Statements. As part of the nature of business above:

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 entity(ies),
(“intermediaries”) with the understanding, whether recorded in writing or
otherwise, that the intermediary shall lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Company (Ultimate
Beneficiaries) or provide any guarantee, security, or the like to or on behalf of the
Ultimate Beneficiaries.

b. The Company has not received fund from any person(s) or entity(ies), including
Foreign Entity(ies), (Funding Party) with the understanding (whether recorded
in writing or otherwise) that the Company shall 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 to or on behalf of the Ultimate Beneficiaries.

For M/s. SINGHVI & SANCHETI For and on behalf of Board of Directors

Chartered Accountants

Sd/- ^{Sd/- Sd/}-

(H M Sancheti) Munnalal Jain Pramod Bhelose

Partner Managing Director WTD & CFO

Membership No.: 043331 DIN: 10478345 DIN: 02773034

Firm Reg. No. 110286W

Place: Mumbai

Date: 30/05/2024

UDIN: 240433 31BKCTXR9640

---

Mar 31, 2015

1. Other Accounting Policies:

These are consistent with the generally accepted accounting practices. The Schedule III has become effective from 1st April, 2014 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. Quantitative details - N.A.

---

Mar 31, 2014

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. Micro, small & Medium Enterprises

There was no amount due as on 31st March, 2014 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Cash & Cash Equivalent:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties Disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

6. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous year''s figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year''s presentation.

9. Quantitative details - N.A.

10. (i) Terms and Rights attached to equity shares:

* The company has only one class of equity shares having a par value of Rs. 2 each. Each holder of equity shares is entitled to one vote per share.

* In the event of liquidation, the euity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amount, in proportion to the shareholding. However, no such preferential amount exist currently

(ii) There are no Share Warrant pending for conversion as on 31.03.2014

(In the P.Y. 4,105,000 warrants were converted into 4,105,000 shares of Rs.2/- each at premium of Rs. 0.40/- each.)

---

Mar 31, 2013

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. There was no amount due as on 31st March, 2013 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

4. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

5. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

6. Previous year''s figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year''s presentation.

7. Quantitative details - N.A.

---

Mar 31, 2012

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. There was no amount due as on March 31, 2012 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Leases:

4. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties Disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

6. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous year's figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year's presentation.

9. Quantitative details - N.A.

---

Mar 31, 2011

1. Previous years figures have been re-grouped and re-arranged wherever considered necessary.

2. There was no amount due as on March 31, 2011 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006

3. Deferred Tax :

Components of deferred tax liabilities is provided by applying the applicable rate of tax to the taxable income of the year. As per Accounting Standard 22 on Taxes on Income-the company has a deferred tax liability of Rs. NIL (Previous year Rs. 19,843.00)

4. Segment Reporting

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Nature of Relationship Name

i) Key Management Person Mr. Pratik Jain

Mr. Sanjay Minda

6. As per managements view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There is no outstanding dues of micro and small enterprises suppliers as defined under The Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous years figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current years presentation.

9. Quantitative details - N.A.

---

Mar 31, 2010

1. Previous years figures have been re-grouped and re-arranged wherever considered necessary.

2. There was no amount due as on March 31, 2010 ,as reported to us from/ to Micro, Small & Medium Enterprises as per MSMED Act, 2006.

3. Components of Deferred Tax

Income Tax liability is provided by applying the applicable rate of tax to the taxable income of the year. As per Accounting Standard 22 on Taxes on Income - the company has a deferred tax Liability of Rs. 19,843/-(previous year Rs. 31,394/-of Deferred Tax Assets).

4 Segment Reporting

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17 - "Segment Reporting" is v not required. .

5 Related parties disclosures

There are no transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Related Party Details:

Nature of Relationship Name

i) Key Management Person Mrs. Bhavna Hariprasad Lahoti

Mr. Narendra Harlalka

Mrs. Geeta Chotalal Kabra

ii) Associates Ambitious Holdings Pvt. Ltd.

Triveni Exports (P) Ltd.

6 In view of the companys business, generally there is no specific physical measure or standard classification for its products / services. Consequently, Additional information pursuant to part II of Schedule VI of the companies Act, 1956 are either Nil or not applicable.