3.14 Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that probably requires an
outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent
liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow
of resources. The Company also discloses present obligations for which a reliable estimate cannot be made. When there is
a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision
or disclosure is made.

(e) Capital Management

The Company’s objective is to maintain appropriate levels of capital to support its business strategy taking into account the
regulatory, economic and commercial environment. The Company aims to maintain a strong capital base to support the risks
inherent to its business and growth strategies. The Company endeavours to maintain a higher capital base than the mandated
regulatory capital at all times.

The Company’s assessment of capital requirement is aligned to its planned growth which forms part of an annual operating plan
which is approved by the Board and also a long range strategy. Accordingly, increase in capital is planned well in advance to
ensure adequate funding for its growth. The Company does not owe any debt.

Dividend

The Company follows the policy of Dividend for every financial year as may be decided by Board considering financial performance
of the company and other internal and external factors enumerated in the Company dividend policy. The Company has not
proposed/declared dividend for current financial year as well as in the previous financial year.

Nature and purpose of Reserves

a) Statutory Reserve

Reserve fund is created as per the terms of section 45-IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve.

b) Securities Premium

Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of
Section 52 of the Companies Act. 2013.

c) General Reserve

This Reserve is created by an appropriation from one component of equity (generally Retained Earnings) to another, not being an
item of Other Comprehensive Income. The same can be utilized in accordance with the provisions of the Companies Act, 2013.

d) Retained Earnings

This Reserve represents the cumulative profits of the Company. This Reserve can be utilized in accordance with the provisions of
the Companies Act, 2013.

Note No. 35 - Segment information

The Managing Director of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108,
"Operating Segments". The CODM evaluates the Company’s performance and allocates resources based on an analysis of various
performance indicators, however the Company is primarily engaged in only one segment viz., Financing and that all of the operations are
in India. Flence the Company does not have any reportable Segments as per Ind AS 108 “Operating Segments".

Note No. 39 - Schedule to the Balance Sheet as required in terms of Master Direction - Reserve Bank of India (Non-Banking Financial
Company - Scale Based Regulation) Directions, 2023 is annexed.

Note No. 40 - Fair values and fair value hierarchy

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

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.

Note No. 44 - Additional disclosures under Companies Act, 2013

(a) The Company does not have any Benami properly, where any proceeding has been initiated or pending against the Group for holding
any Benami property.

(b) The Company does not have any transactions with companies struck off.

(c) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

(e) 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.)

(f) The Company does not fall under the criteria of section 135 of Companies Act, 2013 for corporate social responsibility.

(g) The Company has not borrowed any funds from banks or financial institutions for any purpose.

Note No. 45 - The figures of previous year have been regrouped/ reclassified wherever considered necessary to make them comparable
with those of current year.

Note No. 46 - Approval of financial statements

The financial statements were approved for issue by the Board of Directors on May 30, 2024.

For and on behalf of the Board of Directors

For J Gupta & Co LLP

Chartered Accountants Dilip Kumar Gupta Rajesh Shah

FRN - 314010E/E300029 Managing Director Independent Director

(DIN: 01168576) (DIN: 06746791)

N.C.Konar

Partner

Mem No. - 052892 Suraj Bhowmick Priyanka Mundhara

Chief Financial Officer Company Secretary

Date: May 30, 2024
Place: Kolkata

UDIN:24052892BKEKVH1922