X. Provisions. Contingent Assets/ Contingent Liabilities

Provisions are recognized when the company lias a present obligation (legal or constructive) as a result of a past
event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable
estimate can be made of the amount of the obligation. Show cause notices issued by Government Authorities where
the probability of outflow of economic resources is remote are not considered as obligations. When die demands are
raised against show-cause notices and are disputed by the company, these are treated as disputed obligations along
with other contingent liabilities. Such contingent liabilities are not recognized but are disclosed in the notes.
Contingent Assets are not recognized but disclosed in the notes to the financial statements; if any.

XI. Leases

The company is a lessee, and the Operating lease payments are recognized as expense on a straight-line basis over
the lease term.

XII. Income Tax

Income tax expense represents the sum of current tax payable and deferred tax.

Current Tax: The tax currently payable is based on the current year taxable profit for the year. The current tax is
calculated using the tax rates that have been enacted or substantively enacted at the end of the reporting period.

Deferred tax: Deferred tax is provided using the Balance Sheet method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable
that the taxable profits will be available against which those deductible temporary differences can be utilized.
Deferred tax is calculated using the tax rates that have been enacted or substantively enacted at the end of the
reporting period. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred
tax asset to be utilized.

XIII. 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, adjusted for own shares held. Diluted earnings per
share is determined by adjusting the profit or loss attribute 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.

XIV. Employee benefits

The company provides for Gratuity, a Defined Benefit retirement plan covering eligible employees. The gratuity plan
provides a lump sum payment to vested employees at retirement, death or termination of employment of an amount
based on the respective employee's salary and the tenure of employment with the company. Liabilities with regard
to Gratuity plan are determined by the actuarial valuation at each balance sheet date. Actuarial gain/loss is
recognized in the statement of profit and loss. Retirement benefit in the form of provident fund is a Defined
Contribution scheme. Contribution made to statutory provident fund is accounted on accrued basis.

XV. 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.

Non-derivative financial instruments

Non-derivative financial instruments consist of:

1. Financial assets, which include cash and cash equivalents, trade receivables, other advances and eligible current
and non-current assets;

2. Financial liabilities, which include long and short-term loans and borrowings, trade payables, eligible current
and non-current liabilities.

Non derivative financial instruments are recognized initially at fair value including any directly attributable
transaction costs. Financial assets are derecognized when substantial risks and rewards of ownership of the financial
asset have been transferred. In cases where substantial risks and rewards of ownership of the financial assets are
neither transferred nor retained, financial assets are derecognized only when the Company lias not retained control
over the financial asset.

Subsequent to initial recognition, non-derivative financial instruments are measured as described below:

1. Cash and cash equivalents

For the purposes of the cash flow statement, cash and cash equivalents include cash in hand, at banks and demand
deposits with banks, net of outstanding bank overdrafts, if any, that are repayable on demand and are considered
part of the Company's cash management system.

2. Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted
in an active market. They are presented as current assets, except for those maturing later than 12 months after
the reporting date which are presented as non-current assets. Loans and receivables are initially recognized at
fair value plus directly attributable transaction costs and subsequently measured at amortized cost, less any
impairment losses. Loans and receivables comprise trade receivables and other assets.

The company estimates the un-collectability of accounts receivable by analysing historical payment patterns,
customer concentrations, customer credit-worthiness and current economic trends. If the financial condition of a
customer deteriorates, additional allowances may be required.

3. Trade and payable

Liabilities are recognized for amounts to be paid in future for goods or services received, whether billed by the
supplier or not.

4. Financial assets at fair value through other comprehensive income (FVTOCI1

A 'Financial assets' is classified as at the FVTOCI if both of the following criteria are met:

a) The objective of the business model is achieved both by collecting contractual cash flows and selling the
financial assets, and

b) The asset's contractual cash flows that are solely payments of principal and interest (SPPI) on the principal
amount outstanding.

Financial assets included within the FVTOCI category are measured initially as well as at each reporting date at
fair value. Fair value movements are recognized in the other comprehensive income (OCI). However, the
Company recognizes interest income, impairment losses and reversals in the statement of Profit and Loss. On
derecognition of the asset, cumulative gain or loss previously recognized in OCI is reclassified from the equity
to Statement of Profit and Loss.

Interest earned whilst holding FVTOCI Financial assets is reported as interest income using the effective interest
rate (EIR) method.

5. Financial assets at fair value through profit and loss (FVTPL!

FVTPL is a residual category for Financial assets. Any Financial assets, which does not meet the criteria for
categorization as at amortized cost or as FVTOCI, is classified as FVTPL.

In addition, the Company may elect to designate Financial assets, which otherwise meets amortized cost or
FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as 'accounting mismatch').

Financial assets included within FVTPL category are measured at fair value with all changes recognized in the
statement of profit and loss.

XVI. Segment Information

The Company has been identified one of Director as the Chief Operating Decision Maker (CODM) as defined by Ind
AS-108, "Operating Segments." The CMD of the Company evaluates the segments based on their revenue growth and
operating income. The Company has identified its Operating Segments as SAAS services to the holding company and
consulting services performed in India. The Assets and liabilities used in the Company's business that are not
identified to any of the operating segments are shown as unallocable assets/liabilities. Management believes that it
is currently not practicable to provide segment disclosures relating to total assets and liabilities since the assets are
used interchangeably and hence a meaningful segregation of the available data is onerous.

XVII. Events after the reporting period

Adjusting events are events that provide further evidence of condition that existed at the end of the reporting period.
The financial statements are adjusted for such events before authorization for issue.

XVIII. Prior Period Errors

Errors of material amoimt relating to prior period(s) are disclosed by a note with nature of prior period errors, amoimt
of correction of each such prior period presented retrospectively, to the extent practicable along with change in basic
and diluted earnings per share. However, where retrospective restatement is not practicable for a particular period
then the circumstances that lead to the existence of that condition and the description of how and from where the
error is corrected are disclosed in Notes to Accounts.