H Provisions and Contingent liabilities

A provision is recognized when there is a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the
obligation and in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate
required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent Liability is disclosed in case of:

a. A present obligation arising from a past event, when it is not probable that an outflow of resources will be required to settle the obligation.

b. A possible obligation, unless the probability of outflow of resources is remote.

Contingent liabilities not provided for

Contingent Assets are neither recognized nor disclosed.

I Contingencies and Events Occurring after the Balance Sheet date

Adjustment to assets and liabilities are made for events occurring between balance sheet date and the date on which the financial statements are approved that
provide additional information materially affecting the determination of the amounts relating to the conditions existing at the balance sheet date.

J Prior period items

Prior period items are income and expenses that arises in the current period as a result of errors and omissions in the preparation of the financial statements of
the one and more prior periods. Prior period does not include other adjustments necessitated by circumstances, which though related to prior periods, are
determined in the current period.

K Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured and there
exists reasonable certainty of its recovery. Revenue is measured at the fair value of the consideration received or receivable as reduced for estimated customer
credits and other similar allowances.Interest income is recognised in the Statement ofProfit and Loss and for all financial instruments except for those classified
as held for trading or those measured or designated as at fair value through profit or loss (FVTPL) is measured using the effective interest method (EIR). The
calculation of the EIR includes all fees and points paid or received between parties to the contract that are incremental and directly attributable to the specific
lending arrangement, transaction costs, and all other premiums or discounts. For financial assets at FVTPL transaction costs are recognised in profit or loss at
initial recognition. The interest income is calculated by applying the EIR to the gross carrying amount of non-credit impaired financial assets (i.e. at the amortised
cost of the financial asset before adjusting for any expected credit loss allowance). For credit-impaired financial assets the interest income is calculated by
applying the EIR to the amortised cost of the credit-impaired financial assets (i.e. the gross carrying amount less the allowance for expected credit losses (ECLs)).
For financial assets originated or purchased credit-impaired (POCI) the EIR reflects the ECLs in determining the future cash flows expected to be received from
the financial asset. Dividend income is recognised when the Company's right to receive dividend is established by the reporting date and no significant
uncertainty as to collectability exists.Any differences between the fair values of the financial assets classified as fair value through the profit or loss, held by the
Company on the balance sheet date is recognised as an unrealised gain/loss in the statement of profit and loss. In cases there is a net gain in aggregate, the same
is recognised in “Net gains or fair value changes” under revenue from operations and if there is a net loss the same is disclosed “Expenses”, in the statement of
profit and loss.Other operational revenue represents income earned from the activities incidental to the business and is recognised when the right to receive the
income is established as per the terms of the contract.

L Employee benefits

a) Short term employee benefits are recognized as expense at the undiscounted amount in the Statement of Profit and Loss of the year in which the related
service is rendered.

b) Post employment and other long term employee benefits are recognized as an expense in the Statement of Profit and Loss of the year in which the employee
has rendered services. The expense is recognized at the present value of the amounts payable determined using actuarial valuation techniques. Actuarial gains
and losses in respect of post employment and other long term benefits are charged to the Statement of Profit and Loss.

Retirement benefits

a) Contributions to the provident fund, a defined contribution scheme, are charged to the Statement of Profit and Loss.

b) Gratuity has been accounted on actuarial valuation. Any curtailment in the liability during the year is recognized as Income and credited to Statement ofProfit
& Loss.

c) Presently, the Company does not have any other defined benefit for staff payable on retirement/ cessation of service.

M Taxation

Income tax comprises of Current Tax and Deferred Tax. Current Tax is the amount of tax payable as determined in accordance with the provisions of Income Tax
Act, 1961. Deferred Tax charge or credit is recognized using the tax rates and tax laws that have been substantially enacted at the Balance Sheet date.There is no
Deferred Tax Liablitiy and Asset for the year under review.

Note 18 Financial Assets : Investments: IND AS 40 , IND AS 12 & IND AS 113

Financial assets at fair value through profit or loss (FVTPL) Financial assets are measured at fair value through profit or loss unless it is
measured at amortised cost or at fair value through other comprehensive income on initial recognition. The transaction costs directly
attributable to the acquisition of financial assets and liabilities at fair value through profit or loss are recognised in profit or loss on Quaterly
basis.

All fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to
Statement of Profit and Loss, even on sale of investment. However, on sale/disposal the Company may transferthe cumulative gain or loss
within equity.

Note 19 Loans & Advances:

Loans and Advances are stated at the values which in the opinion of the Board of Directors are realisable during the ordinary course of
business.

^{Note 20} Cash Flow Statement IND AS 7

Statement of cash flows is prepared segregating the cash flows into operating, investing and financing activities.cash flow from operating
activities is reported using indirect method adjusting the net profit for the effects of: (i) changes during the period in operating receivables
and payables transactions of a non-cash nature; (ii) non-cash items such as depreciation, provisions, deferred taxes, unrealised gains and
losses; and (iii) all other items for which the cash effects are investing or financing cash flows. Cash and cash equivalents (including bank
balances) shown in the Statement of Cash Flows exclude items which are not available for general use as on the date of Balance Sheet.

Note 21 Employees Retirement Benefits: IND AS 19

(i) The Provisions of Provident Fund and Employee State Insurance Scheme is not applicable to the company.

(ii) The Provisions of the Payment of Gratuity Act 1972 is is not applicable to the company.

(iii) Presently, the Company does not have any other defined benefit for staff payable on retirement/ cessation of service.

_{Note 22} SEGMENT REPORTING - IND AS 108

The Company is having only one main business segment namely "Finance and Investment and Allied Activities" and as such disclosure of
segment results as per IND AS 108 does not arise.

Notes :- 01 The fair value of the financial assets and liabilities are included at the amount at which the instrument can be

exchanged in the current transaction between willing parties, other than in a forced or liquidation sales.

02 Financial intruments carried at amortised cost such as cost, trade and other receivable, borrowing and other current
financial instrument apporoximate at their fair values largely due to short-term maturities of these instruments.

03 The fair value of the quoted instruments are based on market price at the reporting periods.

^{Note 26} Additional regulatory disclosures as per Schedule III of Companies Act. 2013

i) The Company does not own any immovable properties

ii) The Company has not availed any finance against security of current assets.

iii) The Company does not have borrowings from bank and financial institutions.

iv) The Company has not been declared a wilfull defautler.

v) No proceedings have been initiated or pending against the Company for holding any Benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

vi) The Company does not have Property, Plant and Equipment and Intangible Assets.

vii) There are no transactions with the Companies whose name are struck off under Section 248 of The Companies Act, 2013 or Section 560 of
the Companies Act, 1956 during the year.

viii) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have been filed. No
registration or satisfaction is pending at the year end.

ix) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Companies Act, 2013 read with
Companies (Restriction on number of Layers) Rules, 2017.

x) During the year the Company has not disclosed or surrendered, any income other than the income recoginsed in the books of accounts in
the tax assessments under Income Tax Act, 1961

xi) The Company has 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 beneficiary.

xii) 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.

xiii) The Company has not operated in any crypto currency or Virtual Currency transactions during the year.

xiv) The Corporate Social Responsibility (CSR) provisions are not applicable to the company.

xv) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act.

^{Note 27} Sundry Debit and Credit Balances are subject to confirmation.

Previous Year's figures have been restated and regrouped wherever necessary to meet current year's classifications and rounded off to

Note 28

nearest Rs. In Lakhs
Signature to Notes 1 to 28

As per our report of even date.

For M/S JMT & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Regn No. 104167W

Sd/- Sd/- Sd/-

SANJAY PICHHOLIA AKASH R. VARDHAN RAMESH B. VARDHAN

PARTNER (DIN : 03043186) (DIN : 00207488)

M. No. 122651 Managing Director Director

Sd/- Sd/-

PLACE | MUMBAI SONAM D. VARDHAN PINESH POKARNE

Date: 17/05/2024 Chief Financial Officer Company Secretary