h) Provisions, contingent liabilities, contingent assets and commitments

Provisions are recognised when the company has a present obligations (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 obligations and a reliable estimate can be made of the
amount of the obligations. If the effect of the time value of money is material, provisions are
discounted using equivalent period government securities interest rate. Unwinding of the
discount is recognised in the statement of Profit and loss as a finance cost. Provisions are
reviewed at each balance sheet date and are adjusted to reflect the current best estimate.

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.
Information on contingent liability is disclosed in the Notes to be Financial Statements.

Contingent assets are not recognised. However when the realisation of income is virtually
certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

i) Current and Non-current Classification

The company presents assets and liabilities in statement of financial position based on current
/ non-current classification.

The company has presented non-current assets and current assets before equity, non-current
liabilities and current liabilities in accordance with Schedule III, Division II of Companies Act,
2013 notified by Ministry of Corporate Affairs.

An assets is classified as current when it is:

a) Expected to be realised or intended to be sold or consumed in normal operating cycle.

b) Held primarily for the purpose of trading.

c) Expected to be realised within twelve months after the reporting period or

d) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period.

All other assets are classified as non-current
A liability is classified as current when it is :

a) Expected to be settled in normal operating cycle

b) Held primarily for the purpose of trading

c) Due to be settled within twelve months after the reporting period or

d) There is no unconditional right to defer the settlement of the liability for at least twelve
months after the reporting period

All other liabilities are classified as non-current

The operating cycle is the time between the acquisition of assets for processing and their
realisation in cash or cash equivalents. Deferred tax assets and liabilities are classified as non¬
current assets and liabilities. The company has identified twelve months as its normal
operating cycle.

j) Fair Value Measurement :

The company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The fair value
measurement is based on the presumption that the transaction to sell the asset or transfer the
liability takes place either.

a) In the principal market for the asset or liability or

b) In the absence of a principal market, in the most advantageous market for the asset or
liability.

The principal or the most advantageous market must be accessible by the company. The fair
value of an asset or a liability is measured using the assumptions that market participants
would use when pricing the asset or liability, assuming that market participants act in their
economic best interest.

A fair value measurement of non-financial asset takes into account a market participants
ability to generate economic benefits by using the asset in its highest and best use or by selling
it to another market participant that would use the asset in its highest and best use.

The company uses valuation techniques that are appropriate in the circumstances and for
which sufficient data are available to measure fair value, maximising the use of relevant
observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial
statements are categorised within the fair value hierarchy, described as follows, based on the
lowest level input that is significant to the fair value measurement as a whole.

a) Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or
liabilities.

b) Level 2 - Valuation techniques for which the lowest level input that is significant to the fair
value measurement is directly or indirectly observable.

c) Level 3 - Valuation techniques for which the lowest level input that is significant to the fair
value measurement is unobservable

For assets and liabilities that are recognised in the financial statements on a recurring basis,
the company determines whether transfers have occurred between levels in the hierarchy by
re-assessing categorisation (based on the lowest level input that is significant to the fair value
measurement as a whole) at the end of each reporting period.

k) Offsetting Financial Instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet
where there is a legally enforceable rights to offset the recognised amounts and there is an
intention to settle on a net basis or realise the asset and settle the liability simultaneously. The
legally enforceable rights must not be contingent on future events and must be enforceable in
the normal course of business and in the event of default, insolvency or bankruptcy of the
company or counterparty.

Significant Accounting Judgement, Estimates and Assumptions

The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets, and liabilities and

the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in future period. The key assumptions concerning
the future and other key sources of estimation uncertainty at the reporting date, that have a
significnat risk of causing a material adjustment to the carrying amounts of assets and liabilities
within the next financial year, are described below. The company based its assumptions and
estimates on parameters available when the financial statements were prepared. Existing
circumstances and assumptions about future developments, however, may change due to market
changes or circumstances arising that are beyond the control of the company. Such changes are
reflected in the assumptions when they occur.

Property, Plant and Equipment

Internal technical team or user team assess the remaining useful lives and residual value of
property, plant and equipment. Management believes that the assigned useful lives and residual
value are reasonable.

Contingencies

Management has estimated the possible outflow of resources at the end of each annual reporting
period, if any, in respect of contingencies / claim / litigations against the company as it is not
possible to predict the outcome of pending matters with accuracy.

Impairment of Financial Assets

The impairment provisions for financial assets are based on assumptions about risk of default and
expected loss rates. The Company uses judgement in making these assumptions and selecting the
inputs to the impairment calculation, based on Company's past history, existing market conditions
as well as forward looking estimates at the end of each reporting period.

Impairment of Non-Financial Assets

The Company assesses at each reporting date whether there is an indication that an asset may be
impaired. If any indication exists, or when annual impairment testing for an asset is required, the
Company estimates the asset's recoverable amount. An asset's recoverable amount is the higher of
an asset's or Cash Generating Units (CGU) fair value less costs of disposal and its value in use. It is
determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent to those from other assets or groups of assets. Where the carrying amount of an asset
or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its
recoverable amount. In assessing value in use, the estimated future cash flows are discounted to
their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and the risks specific to the asset. In determining fair value less cost of
disposal recent market transactions are taken into account. If no such transactions can be identified,
an appropriate valuation model is used. These calculations are corroborated by valuation multiples
or other available fair value indicators.

Fair Value Measurement of Financial Instruments

When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot
be measured based on quoted prices in active markets, their fair value is measured using valuation
techniques including the Discounted Cash flow (DCF) model. The inputs to these models are taken
from observable markets where possible, but where this is not feasible, a degree of judgement is
required in establishing fair values. Judgements include considerations of inputs such as liquidity
risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported
fair value of financial instruments.

The management of the company has considered Loan given to "6" parties amounting to Rs
64.34 Lacs as Doubtful Assets as the interest and principal is not received for more than 3
* years and a provision of 100% has been made as per RBI guidelines.

In the previous year FY 2022-2023 , management of the company has considered Loan given
to "3" party amounting to ' 10.35 Lacs as Non-Performing Assets as the interest and
principal is not received and a provision of 10% has been made as per RBI guidelines. This
year amount is Rs. Nil.

This amounts includes Rs 0.68 Lacs (P.Y Rs 0.45 Lacs)as provision on Standard Asset @
0.25% as per RBI Guidelines

30 CAPITAL MANAGEMENT

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders
of the Company. 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. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or
issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.

31 FINANCIAL INSTRUMENTS
i Valuation

All financial instruments are initially recognized and subsequently re-measured at fair value as described below:

a) The fair value of investment in quoted Equity Shares is measured at quoted price or NAV or cost as available with the management.

b ) The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

Note:

Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, mutual funds, bonds that
have quoted price. The fair value of all equity instruments 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 book value calculated on the basis of latest
audited financial statements as available with the management or are valued at cost as no information is available with the management.

ii Foreign Currency Risk : N.A.

iii Interest Rate Risk:

The following table shows exposure of the Company's borrowings to interest rate changes at the end of the reporting period:

iv Credit Risk:

Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due, causing financial loss to the
company. Credit risk arises from company's activities in investments and outstanding receivables from customers.

The Company has a prudent and conservative process for managing its credit risk arising in the course of its business activities. Dues from customers to
whom sales are made on credit are generally receovered within credit days allowed to the customer.

Following provides exposure to credit risk for trade receivables:

v Liquidity Risk:

Liquidity risk arises from the Company's inability to meet its cash flow commitments on time. Prudent liquidity risk management implies maintaining
sufficient stock of cash and marketable securities (' 22.27 Lacs as on 31st March 2024; ' 85.74 Lacs as on 31st March 2023). Company accesses financial
markets to meet its liquidity requirements.

The Company's liquidity is managed centrally with operating units forecasting their cash and liquidity requirements. Treasury pools the cash surpluses from
across the different operating units and then arranges to either fund the net deficit or invest the net surplus in the market.

33 Other Regulatory Information

i) Company has no immovable property as on the balance sheet date.

ii) The company has not revalued its Property, Plant and Equipment during the year.

iii) The company has not granted Loans or Advances in the nature of Loans to Promoters, directors, KMPs and the
related parties.

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

v) The Company do not have any borrowings from banks or financial institutions and has not been declared a
wilful defaulter.

vi) The Company do not have any transactions with struck off companies.

vii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory

viii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

ix) The Company do not have any subsidiary company as defined under clause (87) of section 2 of the Companies
Act 2013.

x) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a. 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

b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

xi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) 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 manner
whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries), or

b. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xii) The Company have not 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.

xiii) Disclosures under Section 186(4) of the Companies Act 2013 - NIL

34 The Company has complied with the prudential norms as per NBFC's (Reserve Bank)
Directions 1998 with regard to Income Recognition, Assets Classification, Accounting Standard
and Provision for Bad & Doubtful Debts as applicable to it. Schedule in terms of Paragraph 13
of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms
(Reserve Bank) Directions, 2007 is annexed hereto separately.

35 Related Party Disclosure :

Related party disclosures as required by Ind AS-18 - 'Related Party Disclosure' are given
below:

Key Management Personnel (KMP) : Mr. Arihant Patni (Whole Time Director), Miss Sweety
Dassani (Resigned on 03.07.2023 ) Mrs. Sweety Nahata (Company Secretary) (Appointed on
13.09.2023) & Mr. Shyam Arora (CFO)

36 Management has determined that there were no balances outstanding as at the beginning of the
year and no transactions entered with Micro, Small and Medium Enterprises as defined under
Micro, Small and Medium Enterprises Development Act, 2006, during the current year, based
on the information available with the Company as at March 31, 2024.

37 Analytical Ratios

As per the Schedule III of Companies Act, 2013 requirements, following ratios are to be
disclosed along with explanation for those ratios having variance of more than 25% as
compared to preceding year.

39 Previous Year figures have been regrouped and/or rearranged wherever considered necessary.

As per our report of even date.

For Vasudeo & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No. 319299E

CA. Saurabh Modi D.K.Patni A.Patni

Partner Director Whole Time Director

Membership No. 303815 DIN:01069986 DIN:07210950

UDIN-24303815BKBIBW5257

Place: Kolkata S. Nahata S.Arora

Dated: The 29th Day of May, 2024 Company Secretary CFO