xii) Provisions:

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. The expense
relating to a provision is presented in the statement of profit or loss net of any reimbursement. Provisions
are not recognized for future operating losses If the effect of the time value of money is material, provisions
are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability.
When discounting is used, the increase in the provision due to the passage of time is recognized as a finance
cost.

Contingent liabilities are possible obligations that arise from past events and whose existence will only be
confirmed by the occurrence or non-occurrence of one or more future events not wholly within the control
of the Company. Where it is not probable that an outflow of economic benefits will be required, or the
amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the
probability of outflow of economic benefits is remote. As mentioned in the notes to account no. 38, the
management has stated an amount of Rs. 42.11 lakhs as contingent liability.

Contingent asset is not recognized but disclosed, when possible, asset that arises from past events and
whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the entity. Provisions, contingent liabilities and contingent
assets are reviewed at each balance sheet date.

xiii) Cash flows are stated using the indirect method, whereby profit/loss before tax is adjusted for the
effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts
or payments and items of incomes and expenses associated with investing or financing flows. The cash
flows from operating, investing and financing activities of the Company are segregated.

In terms of our attached report of even date, For Nikki Global Finance Limited

For Srivastava S & Co.

CA Swadesh Chandra Srivastava Rajesh Kumar Pandey Gyan Singh,

Partner, (Managing Director) (Director)

(DIN: 09745776) (DIN: 07385171),

Membership No.: 073915

Place: New Delhi, Sharad Pal Meghna Bansal

Date: 26.05.2024 (C.F.O.) (Company Secretary)

UDIN: 24073915BKDGYB2683