J. Provisions and contingent liabilities

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events, it is probable that an
outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for
future operating losses.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation
at the end of the reporting period. The discount rate used to determine the present value is a pre tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is
recognised as interest expense.

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence will be confirmed by
the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the company or where any
present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be
made.

A contingent asset is disclosed, where an inflow of economic benefits is probable. An entity shall not recognise a contingent asset unless
the recovery is virtually certain.

K. Deferred tax Asset

The Company has not created any Deferred tax assets as there is no foreseeable profit in future years and hence deferred tax is
not recognized.

Capital Management

For the purpose of the company's capital management, capital includes issued capital and all other equity reserves attributable to the equity
shareholders of the group. The primary objective of the group when managing capital is to safeguard its ability to continue as a going concern
and to maintain an optimal capital structure so as to maximize shareholder value.

As at 31st March, 2024 and 31st March, 2023, the Company has only one class of equity shares. Consequent to such capital structure, there are
no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the company allocates its capital for
distribution as dividend or re-investment into business based on its long term financial plans.

Liquidity Risk

Liquidity risk is defined as the risk that the group will not be able to settle or meet its obligations on time, or at a reasonable price. The group's
treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related such
risk are overseen by senior management. Management monitors the group's net liquidity position through rolling forecasts on the basis of
expected cash flows.

Credit Risk

(i) Cash and cash equivalents:

The company maintains its cash and cash equivalents, bank deposits and investment in mutual funds with reputed banks and financial
institutions. The credit risk on these instruments is limited because the counterparties are banks with high credit ratings assigned by
international credit rating agencies. The group monitors the credit rating of the counterparties on regular basis. These instruments carry very
minimal credit risk based on the financial position of company's historical experience of dealing with the parties.

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values:

1. Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term loans from banks and other financial institutions approximate their
carrying amounts largely due to short term maturities of these instruments.

2. Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rates and individual credit worthiness of the counterparty. Based on this
evaluation, allowances are taken to account for expected losses of these receivables. Accordingly, fair value of such instruments is not materially different from their carrying amounts.

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.

Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

Nil

Note 22 - Commitments

Nil

Previous year's figures have been regrouped/rearranged wherever necessary.

FOR AND ON BEHALF OF THE BOARD

AS PER OUR REPORT OF EVEN DATE ATTACHED
For Khandhar Mehta and Shah
Chartered Accountants
Firm Registration No. 125512W

^CA- ^{Gautam Mehta} _^Surya^{kant Khare} S.L. POKHARNA JITENDER AGARWAL

^{Partner Chief Financial Officer} DIRECTOR DIRECTOR

^Membership M°. ^{112626 and Com}p^any ^Secretary Din : 0¹²89850 Din : 06373239

Place: Mumbai

Place : Ahmedabad. Date: May 16, 2024

Date : 16-05-2024.