j) Provisions and Contingent Liabilities:

Provisions are recognised when there is a present obligation 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 there is a reliable estimate 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 and are not discounted to its present value.

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 or a reliable estimate of the amount cannot be made.

When there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure as specified in Accounting Standard 29 - "Provisions, Contingent Liabilities and Contingent Assets" is made.

Contingent Assets are neither recognized nor disclosed.

k) Employee Benefits:

Short term employee benefits are recognized as an expense on accrual basis. The company has no obligation in terms of retirement benefits towards its employees except

Gratuity. There are no defined benefits for leave encashment etc. Provision for Gratuity is done. There are no obligations in respect of defined benefits plans such as Provident Fund, ESIC etc.,

l) Foreign Currency Transactions:

There are no transactions in foreign currency to be reported at the end of the year.

m) Taxation

Income tax expenses comprise current tax and deferred tax charged or credited. Provisions for income tax are made on the basis of section 115 BAA of the Income Tax Act.

n) Inventories

Inventories comprising of Stock in trade are valued at Lower of cost and net realizable value. Cost includes the purchase price and other associated cost directly incurred in

brings the inventory to its present location excluding Vat. Cost is computed on weighted average basis. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completions and estimated cost necessary to make the sale.

25 Notes to Financial Statements

25.1 The Company is engaged mainly in the business of dealing in computers and its components by way of resale trading or giving on rental basis which is cconsidered to constitute one single primary segment. Further, there is no reportable secondary segment i.e. geographical segment

26.9 Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been entered by the company hence this clause requiring approval from the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, and accounting the effects of such Scheme of Arrangements in the books of account of the Company ‘in accordance with the Scheme’ and ‘in accordance with accounting standards’ is not applicable

27 Utilisation of Borrowed funds and share premium:

a) During the year, no funds have been advanced or loaned or invested from borrowed funds any other sources or kind of funds by the Company to or in any other persons or entities, 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 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 on behalf of the Ultimate Beneficiaries, except the money raised by way of intital public offer (including security premium) in the preceeding year have been applied for the purpose for which those were raised.

b) During the year, no funds have been received by the Company from any persons or entities, 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 of the Ultimate Beneficiaries.

27.1 The figures of previous year have been regrouped / rearranged wherever necessary to confirm to the current period’s classification.

Signatures to notes 1 to 27

For and on behalf of the Board of Directors of Slone Infosystems Limited

SD/- SD/- SD/-

Rajesh Srichand Khanna Mohit Rajesh Khanna Riya Jain

Managing Director & Chairman Whole Time Director & CFO Company Secretary

DIN: 09843089 DIN: 10037002 M.No: 71355

Mumbai 27th May 2024