9. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event, it is probable that the Company will be required to settle the obligation, and a
reliable estimate can be made of the amount of the obligation.

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 recognised as a finance cost.

10. Cash Flow Statements

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items
and 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.

11. Contingent Liabilities

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.

Contingent assets are not recognised or disclosed in the financial statements.

12. Recent Accounting Pronouncements:

Standards issued but not yet effective:

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as issued from time to time.

Ind AS 117 - Insurance Contracts

The Ministry of Corporate Affairs has issued a notification dated 12 August 2024 introducing Ind AS
117, Insurance Contracts for accounting of insurance contracts which replaces the current standard
Ind AS 104, Insurance Contracts. The amendments are applicable with effect from 12 August 2024.

Additionally, amendments have been made to Ind AS 101, First-time Adoption of Indian Accounting
Standards, Ind AS 103, Business Combinations, Ind AS 105, Noncurrent Assets Held for Sale and
Discontinued Operations, Ind AS 107, Financial Instruments: Disclosures, Ind AS 109, Financial
Instruments and Ind AS 115, Revenue from Contracts with Customers to align them with Ind AS 117.
The amendments also introduce enhanced disclosure requirements, particularly in Ind AS 107, to
provide clarity regarding financial instruments associated with insurance contracts.

The above amendments are not relevant or do not have any impact on the Financial Statements of
the company.

Ind AS 116-Leases

On 9 September 2024, the Ministry of Corporate Affairs issued amendments to Ind AS 116 concerning
sale and leaseback transactions. The amendment impact how a seller-lessee accounts for variable
lease payments that arise in a sale -and leaseback transaction. The amendments introduce a new
accounting model for variable payments and will require seller-lessees to reassess and potentially
restate sale and- leaseback transactions. The key considerations from the amendments are:

(a) On initial recognition, the seller-lessee includes variable lease payments when it measures a lease
liability arising from a sale-and-leaseback transaction.

(b) After initial recognition, the seller-lessee applies the general requirements for subsequent
accounting of the lease liability such that it recognises no gain or loss relating to the right of use it
retains.

A seller-lessee may adopt different approaches that satisfy the new requirements on subsequent
measurement. The amendments are applicable with effect from 1 April 2024. Under Ind AS 8,
Accounting Policies, Changes in Accounting Estimates and Errors, a seller-lessee will need to apply the
amendments retrospectively to sale and-leaseback transactions entered into or after the date of initial
application of Ind AS 116.

The fair value of a financial instrument on initial recognition is normally the transaction price (fair value of the consideration given or received). Subsequent to initial
recognition, the Company determines the fair value of financial instruments that are quoted in active markets using the quoted bid prices (financial assets held) or quoted ask
prices (financial liabilities held) and using valuation techniques for other instruments. Valuation techniques include discounted cash flow method, market comparable method,
recent transactions happened in the company and other valuation models.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the
measurement date under current market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a valuation technique. In
order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques, as explained below :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, units of mutual funds (open ended) and
traded bonds that have quoted price. The fair value of till equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at
the reporting period.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market
data and rely as little as possible on entity specific estimates. If all material inputs required to fair value an instrument are observable, the instrument is included in level 2.

Note 32: Financial risk management

In the course of its business, the Company is exposed primarily to fluctuations in foreign currency exchange rates risk, interest rates risk, liquidity risk and credit risk. The
group has a risk management policy which covers the foreign exchange risks associated with the financial assets and liabilities. The risk management policy broadly aims to
identify risks, evaluate and measure the risk and sensitivity to operations, decide the process of management of these risks establish a process for monitoring and control of
risks, create an efficient process for reporting to top management, take the regulatory approvals if required.

i) Market risk

Market risk is the risk of any loss in future earnings, in realizable fair values or in future cash flows that may result from a change in the price of a financial instrument. The
value of a financial instrument may change as a result of changes in the interest rates, liquidity and other market changes. Future specific market movements cannot be
normally predicted with reasonable accuracy.

li) Foreign currency exchange rate risk

The Company has financial assets and liabilities denominated in foreign currencies. Consequently, the Company is exposed to the risk that the exchange rate of the Indian
Rupee relative to foreign currencies may change in a manner which has a material effect on the reported values of the Company’s assets and liabilities which are denominated
in foreign currencies. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks.

(ill) Interest rate risk

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the reference rates could have an impact on the

Company's cash flows as well as costs. The Company is not subject to variable interest rates. Accordingly, there would be no

impact due to interest rate movements. The Company invests temporary cash surplus in fixed interest deposits with banks and in liquid funds of

mutual funds. The interest rate sensitivity is calculated by aggregation of all the fixed deposits, intercorporate deposits and 3taff loans and a simultaneous parallel Interest
rates shift by 1%.

1% increase/ decrease of the average interest rate of the Company would result in increase/decrease in the Company’s net income before tax /
equity by approximately Rs. 18.34 (in ’000) (for 31st March 2024 Rs.76.36 (in ’000)).

Description of segments and Principal activities

The Company is in the business of Providing asset management services to Quantum Mutual Fund & advisory services. This primary
segment is identified as asset management services. As such, the Company's financial statements are largely reflective of asset
management business and there are no separate reportable segments as per Ind AS 108, operating segment

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision
maker(CODM).The CODM function is to allocate the resources of the entity and assess the performance of the operating segment of the
Company.

Rs. 15,183/- (in '000) (March 2024 - Rs. 15,183/- (in ’000)) pertains to the following demands raised by the Assessing Officer: These demands
are raised mainly on account of disallowance in respect of matters relating to Section 14 A of Rs. 639/- (in '000). The Assessment order is
being contested and appeal has been filed before commissioner of Income Tax (Appeals) on 15th January 2020 which is, as yet, pending
adjudication. Further a rectification application dated 16th January 2020 in terms of which the Company is entitled a refund of Rs.234/-(in
'000). However the same has as yet not been acted upon. The Company is hopeful of a successful outcome.

(i) The Company is in the business of providing Asset Management Services, financial ratios such as Capital to risk-weighted assets ratio
(‘CRAR) and Liquidity Coverage Ratio are not applicable.

(ii) The Company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding
any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(iii) The Company does not have any transactions with companies struck off under section 248 of the Companies Act,2013 or section 560 of
Companies Act, 1956.

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

(v) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities (Intermediaries)
with the understanding ( whether recorded in writing or otherwise) that the intermediary shall:

- (a) directly or indirectly lend or invest in other persons or entities identified in any matter whatsoever by or on behalf of the company
(Ultimate Beneficiaries) or

-(b) provide any guarantee, security or the right to or on behalf of the ultimate beneficiaries

(vii) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding Parties ) with the
understanding (whether recorded in writing or otherwise) that the company shall:

- (a) directly or indirectly lend or invest in other persons or entities identified in any matter whatsoever by or on behalf of the Funding party
(Ultimate Beneficiaries) or

-(b) provide any guarantee, security or the right to or on behalf of the ultimate beneficiaries

(viii) The Company does not have any such transaction which is 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)

(ix) The Company has not taken any borrowing from Banks or Financial Institutions on the basis of Security of Current Asset

(x) The Company is not declared as wilful defaulter by any bank or financial institution or other lender.

(xi) The Company has not revalued its plant, property & equipment and intangible assets in current year and previous year.

(xii) There is no immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in
favour of the lessee) whose title deeds arc not held in the name of the Company.

Note 40: The Company uses Tally Prime 4.1 (Edit Log) as its accounting software w.e.f April 11, 2023, for recording all the accounting transactions
viz., fixed assets, other expenses, cash and bank transactions, journal entries and all other general ledger accounting transactions for the
year ended March 31, 2025. Tally Prime has a feature of recording audit trail (edit log) facility for which log was enabled throughout the
year.

The Company has used a payroll processing software which is operated by third party software service provider, for maintaining its books
of account and as per the service organization controls report which covers the requirements of audit trail for the period from April 1, 2024
to December 31, 2024, the Company has used an accounting software where the feature of recording audit trail (edit log) facility was not
enabled for majority of the period at the application level.

The management is evaluating the best possible way to comply with the requirements of Proviso to Rule 3(1) of Companies (Accounts)
Rules, 2014.

Note 41: Previous Year figures have been regrouped / reclassified wherever necessary to correspond with the current years classification /
disclosure.