2.8 Provisions and Contingent liabilities

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount
of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the Balance Sheet
date.

Contingent liabilities are disclosed when there is 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 wholly within the control of the company or a present obligation
that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable
estimate of the amount cannot be made.

2.9 Income Taxes & Deferred Taxes

Tax expense recognized in Standalone Statement of Profit and Loss comprises the sum of deferred tax and current tax.

Current tax is determined as the tax payable in respect of taxable income for the year and is computed in accordance with relevant tax regulations.
Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income
or in equity).

Deferred tax is recognize on temporary differences between the carrying amount of asset and liabilities in the financial statement and the
corresponding tax bases used in computation of taxable profit under Income Tax Act, 1961.

2.10 Cash and Cash Equivalents

Cash and cash equivalents are short-term (three months or less from the date of acquisition), highly liquid investments that are readily convertible
into cash and which are subject to an insignificant risk of changes in value.

2.11 Functional & Presentation Currency

These Financial Statements are presented in Indian Rupees (INR), which is also Company’s Functional Currency

2.12 Earnings per share

The Company presents basic and diluted earnings per share (“EPS”) data for its equity shares.

Basic EPS is calculated by dividing the net profit for the period attributable to equity shareholders of the Company by the weighted average
number of equity shares outstanding during the period.

Diluted EPS is calculated by dividing the net profit for the period attributable to equity shareholders and the weighted average number of equity
shares outstanding for the effects of all dilutive potential equity shares.

2.13 Operating lease

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially remain with the lesser, are recognized as
operating lease. Operating lease payments are recognized on a straight line basis over the lease term in the statement of profit and loss, unless
the lease agreement explicitly states that increase is on account of inflation.

2.14 Cash Flow Statement

Cash flows are reported using indirect method as set out in Ind AS -7 “Statement of Cash Flows”, whereby profit / (loss) before 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.

The net cash flow from operating activities is determined by adjusting net profit or loss for the effects of:

(i) Changes during the year in inventories and operating receivables and payables,

(ii) Non-cash items such as depreciation, provisions, deferred taxes, and unrealized foreign exchange
gains and losses, and

(iii) All other items for which the cash effects are on investing or financing cash flows

2.15 Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a Financial Liability or equity instrument of another
entity.

(i) Financial assets:

Initial recognition and measurement

All financial assets are recognized initially at fair value plus, in the case of financial assets not recorded at fair value through statement of profit
and loss, transaction costs that are attributable to the acquisition of the financial asset.

Financial assets are classified, at initial recognition, as financial assets measured at fair value or as financial assets measured at amortized cost.

Subsequent Measurement

For purpose of subsequent measurement financial assets are classified in two broad categories: -

(i) Financial Assets at fair value

(ii) Financial assets at amortized cost

Where assets are measured at fair value, gains and losses are either recognized entirely in the statement of profit and loss, or recognized in
other comprehensive income.

A financial asset that meets the following two conditions is measured at amortized cost:

• Business Model Test: The objective of the company’s business model is to hold the financial asset to collect the contractual cash

flows.

• Contractual Cash flow test: The contractual terms of the financial asset give rise on specified dates to cash flows that are solely

payment of principal and interest on the principal amount outstanding.

A financial asset that meets the following two conditions is measured at fair value through OCI: -

• Business Model Test: The financial asset is held within a business model whose objective is achieved by both collecting contractual

cash flows and selling financial assets.

• Contractual Cash flow test: The contractual terms of the financial asset give rise on specified dates to cash flows that are solely

payment of principal and interest on the principal amount outstanding.

All other financial assets are measured at fair value through profit and loss.

(ii) Financial Liabilities

All financial liabilities are initially recognized at fair value and, in the case of loans and borrowings and payables, net of directly attributable
transaction costs. Financial liabilities are classified as measured at amortized cost or fair value through profit and loss (FVTPL).

A financial liability is classified as FVTPL if it is classified as held for trading, or it is a derivative or is designated as such on initial
recognition. Financial Liabilities at FVTPL are measured at fair value and net

gain or losses, including any interest expense, are recognized in statement of profit and loss.

Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign
exchange gains and losses are recognized in statement of profit and loss. Any gain or loss on de-recognition is also recognized in statement
of profit and loss.

2.16 Fair Value Measurement

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 the presumption that the transaction to sell the asset or transfer the liability
takes place either:

(i) In the principal market for the asset or liability, or

(ii) 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 by the Company. The fair value of an asset or a liability is measured using
the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic
best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the
asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are

categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For the purpose of fair value disclosures, the Company determines classes of assets and liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the fair value hierarchy as explained above.

There is no inventory held by company during the year.

Note 21: Loans& Advances

In the opinion of the Board of directors the value on realization of loans, advances and current assets in the ordinary course of business
is not less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made.

Company has given loan amounting to Rs. 20,00,000/- to Prayag Polytech Private Limited on 21.12.2016 for a loan tenure of maximum
6 months. As per the signed agreement between company and the party, interest @15% per annum shall be charged by the company
till the loan tenure. The loan was extended for twelve months via new agreement dated 07.06.2017. Further, as per the new agreement,
interest @12% per annum shall be payable within 5 days from end of each quarter on pro-rata basis. If not paid within the timelines,
then penalty of twice the amount of interest shall be charged and paid within 15 days from the due date. At the end of F.Y. 2018-19,
interest accrued is standing at Rs.1,68,000 from Prayag Polytech Private Limited but the company has not received the same from
Prayag Polytech Private Limited till date. Accordingly, company has to charge penalty of twice the amount of interest unpaid for the
delayed period, which is not recognized in the books of accounts. The company has filed suit for the recovery of the above amount.

Also company has given loan to Worldlink Finance Ltd. and Principal & Interest are due for more than 3 years, and the balance
outstanding as on 31.03.2024 amounting Rs.92,14,118.00. The company has filed suit for the recovery of the above amount.

Apart from above, company has given loans to various third parties during the current year and previous years. As per the signed
agreement between company and the party, interest is to be paid on quarterly basis, if not paid within the timelines as agreed in the
agreement, then interest on interest @12% shall carry for the period of delay. Following are the details of amount o/s on 31.03.2024
for various parties: -

Balance of sundry debtors, creditors and loans & advances are subject to direct confirmation and reconciliations of the adjustments,
which are made available.

Note 24: Discounting of security deposits for leases

Security deposits for leases have been recognized at discounted value and the difference between undiscounted and discounted value
has been recognized as ‘Prepaid expense for Rent’ which has been amortized over respective lease term as rent expense under ‘Finance
Cost’. The discounted value of the security deposits is increased over the period of lease term by recognizing the notional interest
income under ‘other income’ which has ended in F.Y. 2019-20.

Note 30: Segment Reporting

Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly
by the chief operating decision maker, in deciding how to allocate resources and assessing performance. The Company’s chief operating
decision maker is the Directors. The Company has functioned under a single line of operations and has not diversified business operations, so
there is no separate business/geographical segment as per Ind AS 108, ‘Operating Segments’.

Reasons for Deviation in Ratios for more than 25% as compared to the preceding year:

Current Ratio

During the current year, company has received the principal repayments and interest due on loans & Advances. As a result of this,
there is an increase in Current Assets (Cash & Cash Equivalents) which has led to rise in Current Ratio

Net Profit Ratio

During the current year, increase in total expenses is more than increase in total income which has led to decrease in Net Profit.

As a result, Net Profit Ratio has also fallen.

Return on Capital Employed

During the current year, Net profit has fallen as compared to net profit of previous year. This has led to fall in Return in Capital
Employed.

As per our Report of even date attached

For G. K. Kedia & Co. For Swagtam Trading and Services Limited

Chartered Accountants

Firm's Registration No. 013016N

Kanishka Aggarwal Vinod Bala Sumit Gupta

Partner Whole Time Director Director

Membership No. 544129 DIN: 09790881 DIN: 06911742

Place: New Delhi Pooja Mathur (ACS-45124)

Date: 24.05.2024 Company Secretary Cum Compliance Officer