p) Provisions, Contingent Assets and Contingent Liabilities

A provision is recognized when there is a present obligation as a result of past event, that probably requires an
outflow of resources and a reliable estmate can be made to settle the amount of obligation.These are reviewed
at each year end and adjusted to reflect the best current estmates. Provisions are discounted to their present
values, where the time value of money is material.

Contingent liabilities are not recognised but disclosed in the financial statements.

Contingent assets are neither recognised nor disclosed. However, when realisation of income is virtually certain,
related asset is recognised.

q) Earnings Per Share

Basic and Diluted Earnings per shares are calculated by dividing the net profit for the period attributable to the
equity shareholders by the weighted average number of equity shares outstanding during the year.

r) Cash Flow Statement

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and item of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated based on the available information.

s) Operating Segment

Operating Segments are reported in a manner consistent with the accounting policies adopted for preparing and
presenting the financial statements of the company as a whole. The analysis of geographical segments is based
on the areas in which customers of the company are located.

t) Borrowing Cost

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which
are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added
to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.All
other borrowing costs are recognised in the statement of profi t or loss in the period in which they are incurred.

u) Non-current assets held for sale

Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying
value and fair value less costs to sell.

Assets and disposal groups are classified as held for sale if their carrying value will be recovered through a sale
transaction rather than through continuing use. This condition is only met when the sale is highly probable and
the asset, or disposal group, is available for immediate sale in its present condition and is marketed for sale at a
price that is reasonable in relation to its current fair value. The Company must also be committed to the sale,
which should be expected to qualify for recognition as a completed sale within one year from the date of
classification.

As per information available with the Company, there are no suppliers covered under Micro, Small &
Medium Enterprises Development Act,2006. As a result, no interest provision/payment have been made
by the Company to such creditors, if any, and no disclosure thereof is made in this account.

NOTE - 22

SEGMENT REPORTING

The Company has only one segment of business i.e. Investment & Finance and the Company operates in a
single geographical segment viz. India, accordingly no separate segment reporting is applicable to the
company.

NOTE - 23

RELATED PARTY DISCLOSURE

There is no transaction or balance outstanding at the end of the period with the related parties in terms of
the provisions as per Indian Accounting Standard - 24, hence no disclosures of transactions with the
related parties are given.

NOTE -24

EMPLOYEE BENEFITS

The Company has not disclosed or surrendered any income during the year in the tax assessment under
the Income Tax Act, 1961, such as, search or survey or any other relevant provisions of the Income Tax Act,
1961 and therefore details is required for any transaction not recorded in the books of accounts.

No proceeding has been initiated or pending against the company for holding any benami property under
the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

NOTE - 26

CODE ON SOCIAL SECURITY 2020

The Code on Social Security, 2020 ('the Code') received presidential assent on 28th September, 2020. The
Ministry of Labour and Employment, released the draft rules of the Code on 13th November, 2020,
however, the date on which the Code will come into effect has not yet been notified. The Group will assess
and record the financial impact of the Code in the period(s) when it becomes effective.

NOTE - 27

The company do not have any transactions with companies struck off under section 248 of the Companies
Act, 20l3 or section 560 of Companies Act, 1956.

NOTE - 28

NOTES ON CSR EXPENDITURES

The provisions of section 135 of Companies Act, 2013 read with Schedule VII to the Act and related
regulations.and Companies (CSR Policies) Rules, 2014 is not applicable to the Company during the year
and corresponding previous year.

NOTE - 29

Balances of some of the advances given and taken and Sundry Debtors & Creditors are subject to the
confirmations from the respective parties.

Note-30 (Contd)

Explanation for change in variance in ratio for more than 25% as compared to the preceeding year
Note - 1

The company's current ratio has increased in the current year as compared to previous year due to
increase in fair value gain on current investments in the current year and payments made for the Current
Tax Liabilities.

Note - 2

The decrease in ratio is due to decrease in income during the year due to less increase in fair value of
current investment.

NOTE - 31

EMPLOYEE BENEFITS

A.The defined benefit plans expose the company to a number of actuarial risks such as : Investment Risk,
Interest Risk, Longevity Risk and Salary Risk

Longevity Risk : The present value of the defined benefit liability is calculated by reference to the best
estimate of the mortality of participants both during and after their employment. An increase in the life
expectancy of the participants will increase the liability.

Salary Risk : The present value of the defined benefit liability is calculated by reference to future salaries
of participants. As such, an increase in the salary of the participants will increase the liability.

NOTE - 33

FINANCIAL INSTRUMENTS AND RELATED DISCLOSURES

(a) Capital Management

The Company's objective when managing capital (defied as net debt and equity) is to safeguard the Company's
ability to continue as a going concern in order to provide returns to shareholders and benefi for other
stakeholders, while protecting and strengthening the Balance Sheet through the appropriate balance of debt
and equity funding. The Company manages its capital structure and makes adjustments to it, in light of changes
to economic conditions and strategic objectives of the Company.

© Fair Value Measurement and Fair Value Hierarchy

Fair Value of the financial instruments is classified in various fair value hierarchies based on the following
three levels:

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

Level 2: Inputs other than quoted price included within level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e. derived from prices).

The fair value of financial instruments that are not traded in an active market is determined using market
approach and valuation techniques which maximize the use of observable market data and rely as little as
possible on entity-specific estimates. If significant inputs required to fair value an instrument are
observable, the instrument is included in Level 2.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable
inputs).

If one or more of the significant inputs is not based on observable market data, the fair value is
determined using generally accepted pricing models based on a discounted cash flow analysis, with the
most significant inputs being the discount rate that reflects the credit risk of counterparty.

The fair value of other current financial assets and liabilities is considered to be equal to the carrying
amounts of these items due to their short-term nature. Where such items are non-current in nature, the
same has been classified as Level 3 and fair value determined using discounted cash flow basis. Similarly,
unquoted equity instruments where most recent information to measure fair value is insufficient, or if

"The management assessed that loans, cash and cash equivalents, trade receivables, borrowings, trade payables and
other current liabilities approximate their carrying amounts largely due to the short-term maturities of these
instruments."

(d) Financial Risk Management

The Company's fiancial liabilities comprise trade and other liabilities. The main purpose of these fiancial liabilities is
to fiance the Company's operations. The Company's fiancial assets include trade and other receivables, cash and cash
equivalents.

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a fiancial instrument will fluctuate because of changes
in market prices. Market risk comprises two types of risk: currency risk and other price risk, such as commodity price
risk and equity price risk. Financial instruments affected by market risk include trade payables, trade receivables, etc.

(b) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. Financial instruments that are subject to concentrations of credit risk principally
consist of trade receivables, loans, cash and cash equivalents, bank deposits and other financial assets.

The carrying amount of financial assets represents the maximum credit exposure.

(c) Liquidity Risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk
management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The
Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities,
by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets
and liabilities.

As per our report of even date For and on behalf of the Board

For A. K. Meharia & Associates Arun Kumar Agarwalla Sudha Agarwalla Gaurang Agarwalla

Firm Registration Number-324666E Managing Director Director Director

Chartered Accountants DIN : 00607272 DIN : 00938365 DIN:06533183

Anil Kumar Meharia

Partner Uttam Banerjee Shruti Tebriwal

Membership Number 053918 CFO Company Secretary

Place: Kolkata
Date: 27th May, 2024