n 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation
at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a
provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present
value of those cash flows (when the effect of the time value of money is material).

An onerous contract is a contract under which the unavoidable costs (i.e., the costs that the Company cannot avoid
because it has the contract) of meeting the obligations under the contract exceed the economic benefits expected to be
received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is
the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling
a contract comprises the costs that relate directly to the contract (i.e., both incremental costs and an allocation of costs
directly related to contract activities).

o Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with original maturities of three
months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of
changes in value.

p Earnings per share

Basic earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares
outstanding during the year.

Diluted earnings per share is computed by dividing the profit after tax as adjusted for dividend, interest and other
charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity
shares considered for deriving basic earnings per share and the weighted average number of equity shares which could
have been issued on the conversion of all dilutive potential equity shares.

For & on Behalf of For and on behalf of Board of Directors,

S D Mehta & Co. CLIO INFOTECH LIMITED

Chartered Accountants
FRN: 137193W

Shaishav D. Mehta Mr. Nirav Rohitkumar Shah Alka Rajendra Mehta

Partner 032891 Managing Director 07246610 Non-Executive Director 03306793

UDIN:24032891BKAFZR2567

UdayShah

CFO

Place: Ahmedabad Place: Mumbai

Date: 27-05-2024 Date: 27-05-2024

Nature of Reserve & Surplus
Securities premium

Securities premium is used to record the premium on issue of shares. This reserve will be utilized in accordance with the provisions of the Companies Act.
General Reserve

General Reserve is a free reserve and is available for distribution as dividend, issue of bonus shares, buyback of the company's securities. It was created by
transfer of amounts out of distributable profits, from time to time.

Special Fund Reserve

Special reserve fund was created when company was into NBFC Business and same can be used in accordance with provisions of Companies Act.

Equity instruments through other comprehensive income

The Company has opted to recognize changes in the fair value of certain investments In equity instruments through other comprehensive income, under an
irrevocable option. These changes are accumulated within the FVOCI equity investments reserve within equity. The amount under this reserve will be
transferred to retained earnings when such instruments are disposed off.

26 Defined Contribution Plan

Since Company does not have minimum no. of employees required to mandatorily attract Employee Benefit regulations, Company has not provided for
the same.

The Entity operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each
completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of
continuous service. In case of some employees, the Entity's scheme is more favourable as compared to the obligation under Payment of Gratuity Act,
1972.

| 27 Contingent Liabilities

As per the opinion of the board, there are no contingent liabilities as at the balance sheet date.

The company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed as
contingent liabilities where applicable, in its financial statements. The Board does not expect the outcome of these proceedings to have a materially
adverse effect on its financial statements.

Capital commitment for value of contracts yet to be executed Rs. Nil (P.Y. Nil)

28 Segment Reporting
Business Segment

In accordance with IND AS 108 "Operating segment" - The Company used to present the segment information identified on the basis of internal report
used by the Company to allocate resources to the segment and assess their performance. The Board of Directors of the Company is collectively the Chief
Operating Decision Maker (CODM) of the Company.

The chief operating decision maker monitors the operating results of its segment separately for the purpose of making decisions about resources
allocation and performance assessment. Segment performance is evaluated on the basis on profit and loss

The related party relationship have been determined on the basis of the requirement of the Indian Accounting Standard (Ind AS) - 24 ’ Related Party
Discloures and the same have been relied upon by the auditors.

The relationships as mentioned above pertain to tose related parties with whom transactions have taken place during the current year/previous year,
except where control exists, in which case the relationships have been mentioned irrespective of transactions with the related party.

All Related Party Transactions entered during the year were in ordinary course of the business and on arm's length basis.

Outstanding balances at the year-end are unsecured and settlement occurs in cash.

There have been no guarantees provided or received for any related party receivables or payables. For the current year, the Company has not recorded
any impairment of receivables relating to amounts owed by related parties (Previous Year: Rs. Nil). This assessment is undertaken each financial year
through examining the financial position of the related party and the market in which the related party operates.

30 Financial Instrument

Financial Risk Management - Objectives and Policies

The key objective of the Company's financial risk management is to ensure that it maintains a stable capital structure with the focus on total equity to
uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company is focused on maintaining a strong
equity base to ensure independence, security, as well as financial flexibility for potential future borrowings, if required without impacting the risk profile
of the Company.

Company's principal financial liabilities, comprise Borrowings, trade payables and other payables. The main purpose of these financial liabilities is to
finance Company’s operations. Company's principal financial assets include trade and other receivables and cash & cash equivalents. Company is
exposed to interest rate risk, credit risk and liquidity risk.

The Company's Board oversees the management of these risks. The Company's Board is supported by senior management team that advises on financial
risks and the appropriate financial risk governance framework for the Company. The senior management provides assurance to the Company's Board
that the Company's financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and
managed in accordance with the Company's policies and risk objectives.

The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

(a) Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of
fixed interest bearing finacial instruments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows
of floating interest bearing financial instruments will fluctuate because of fluctuations in the interest rates.

Company has interest rate risk exposure mainly from changes in rate of interest on borrowing & on deposit with bank. The interest rate are disclosed in
the respective notes to the financial statements of the Company.

(b) Foreign Currency Risk

The Company is not exposed to any currency risk on account of its borrowings, other payables and receivables in foreign currency. All dealings are done
in domestic markets by the company. The functional currency of the Company is Indian Rupee.

C. Credit Risk

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge their obligations in full or in a
timely manner consist principally of cash balances with banks, cash equivalents and receivables, and other financial assets. The maximum exposure to
credit risk is: the total of the fair value of the financial instruments and the full amount of any loan payable commitment at the end of the reporting
year. Credit risk on cash balances with banks is limited because the counterparties are entities with acceptable credit ratings. Credit risk on other
financial assets is limited because the other parties are entities with acceptable credit ratings.

Financial asset for which loss allowance is measured using expected credit loss model

D Expected Credit Losses:

With the applicability of Ind AS 109, the recognition and measurement of impairment of financial assets is based on credit loss assessment by expected
credit loss (ECL) model. The ECL assessment involve significant management judgement. The Company's impairment allowance is derived from
estimates including the historical default and loss ratios. Management exercises judgement in determining the quantum of loss based on a range of
factors, like staging criteria, calculation of probability of default / loss and consideration of probability weighted scenarios and forward looking
macroeconomic factors.

The board acknowledges and understands that these factors, since there is a large increase in the data inputs required by the ECL model, which
increases the risk of completeness and accuracy of the data that has been used to create assumptions in the model. Based on the internal management
analysis, as per Board Opinion, there is no requirement of provision for expected credit loss in several financial assets including the trade receivables
and other receivables of the Company and all are on fair value, based on the assessment and judgement made by the board of the company.

In the opinion of management, trade receivable, Financial assets, Cash and cash equivalent, Balance with Bank, Loans and other financial assets havea
value on realisation in the ordinary course of business atleast equal to the amount at which they are stated in the balance sheet.

E Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable
losses. The Company's objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely
monitors its liquidity position and deploys a robust cash management system. It maintains adequate sources of financing including debt and overdraft
from banks at an optimised cost.

E. Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity reserves. The primary objective of the
Company's capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial
covenants. Company monitors capital using a gearing ratio, which is net debts divided by total equity plus net debts. Net debt are non-current and
current borrowings as reduced by cash and cash equivalents, other bank balances and current investments. Equity comprises all components including
other comprehensive income.

31 Details of Benami Property held

The Company do not have any benami property, where any proceeding has been initiated or pending against the company for holding any Benami
property.

32 Wilful Defaulter

The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

33 Relationship with Struck off Companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of
Companies Act, 1956 during the financial year.

34 Balance of Receivables and Payables, including loans , deposits & trade advances given, Inter Corporate Deposits taken, payable to vendors, etc, are
subject to confirmation and consequent reconciliation and adjustments, if any. Further the impairment provision for loans and trade advances given are
subject to documentation of the informal updation in terms of advances. Hence, the effect thereof, on Profit/ Loss, Assets and Liabilities, if any, is not
ascertainable, which may be considerable. As per the opinion of the Board, there will be no substantial impact on their reconciliation with their balance
confirmations as on the reporting date.

35 The company was earlier registered with Reserve Bank of India as "Non Banking Financing Company" (Non Deposit taking Non-Systemically Important)
under Section 45-IA of the Reserve Bank of India Act 1934. The company has discontinued the non-banking financing activities and has also applied to
RBI for the cancellation of registration as NBFC long back. However the approval of RBI for cancellation of NBFC registration is yet to be obtained by the
company.