Note (a): During the year, the Company has alloted 13,000 eqity shares of Rs. 10 each and a premium of Rs. 1440 each to the promoters and promoters group, on 15 July 2023, against conversion of unsecured loan pursuant to the provision of section 42 and section 62 and other applicable provisions, if any of the Companies Act, 2013. Further, the Company has also alloted as prefential allotment of 5,60,000 eqity shares of Rs. 10 each and a premium of Rs. 46.25 each to the non-promoters group, on 25 September 2023, to the provision of section 42 and section 62 and other applicable provisions, if any of the Companies Act, 2013.

Note (b): During the year, the Company has issued 71,55,000 bonus share to the fully paid shareholders of the company in the proportion of 135:1 i.e. one hundred thirty five new fully paid equity share for every one existing equity shares held on the record date from amount standing to the credit free reserve and / or die security premium account as at 25 July 2023.

(b) Rights, preferences and restrictions attached to equity shares

Equity Shares

The Company has one class of equity shares having par value of ? 10 per share. Each holder of equity shares is entitled to one vote per share. All shareholders are equally entitled to dividend. In the event of liquidation, the equity shareholders are entitled to receive remaining assets of the Company (after distribution of all preferential amounts, if any) in the proportion of equity shares held by the shareholders.

A. Defined contribution plans:

The Company makes Provident fund and Employee State Insurance Scheme contribution which are defined contribution plans, for qualifying

employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to the fund. The contribution payable to these plans by the Company are at rates specified in the rules of the schemes. Employer’s contribution to Provident Fund and Employee's State

Insurance Scheme recognised as expenses in the Statement of Profit and Loss for the year are as under:

iii) Economic assumptions:

The principal assumptions are the discount rate and salary growth rate. The discount rate is generally based upon the market yield available on the Government bonds at the accounting date with a term that matches that of the liabilities and the salary growth rate takes account of inflation, seniority, promotion and other relevant factors on long term basis.

These assumptions were developed by management with the assistance of independent actuarial appraisers^ Discount faetors «e

each year-end by reference to government bonds and that have terms to maturity apprommaung to the terms of the related obligation.

assumptions are based on management’s historical experience.

The above sensitivity analysis ate based on a change in an assumption while holding all other assumptions constant In practice, this is unlikely to occu and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obhgatlon to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the pro,ected unit credit method at the enc reporting period) has been applied which was applied while calculating the defined benefit obligation recognised in the balance sheet.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to prior period.

# The details oj amounts outstanding to micro and small enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 are as per available information with the

Company.

28 The Code on Social Security, 2020 (‘Code') relating to employee benefits during employment and postemployment received Presidential assent on 28th September

2020 and has been published in the Gazette of India. However, the date on which the provisions of the Code will come into effect has not been notified. Further,

related Schemes and Rules arc also awaited. The Company will evaluate the impact of the code after it has been notified.

29 In opinion of the Board, the loans & advances and other current assets have a value, which if realized in the ordinary course of business, will not be less than the

value stated in the Balance Sheet.

30 Balance appearing under loans & advances, trade receivables, trade payables, current assets and current liabilities are subject to confirmations in certain cases.

31 Additional regulatory information

(i) There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year 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). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the books of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31, 2023. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current year.

(vii) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies beyond the specified layers.

(viii) The Company does not have any charges or satisfaction of charges which are yet to be registered with the Registrar of Companies beyond the statutory period.

(ix) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether direedy or indirectly lend or invest in other persons/enddes identified in any other 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.

(x) The Company has not received any fund from any pcrsun(s) or cntity(ics), including foreign entities ("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 on behalf of the ultimate beneficiaries.

32 Tile Company lias a single reportable segment for die purpose of Accounting Standard 17.

33 Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary.

This is the summary of significant accounting policies and other explanatory information referred to in our report of even date.