x) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the Company has a present obligation (legal or constructive)
as a result of past events and it is probable that an outflow of resources embodying economic

benefits will be required to settle the obligation, in respect of which a reliable estimate can be
made of the amount of obligation. Provisions (excluding gratuity and compensated absences)
are determined based on management’s estimate required to settle the obligation at the
Balance Sheet date. In case the time value of money is material, provisions are discounted
using a current pre-tax rate that reflects the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage of time is recognised as a finance cost.
These are reviewed at each Balance Sheet date and adjusted to reflect the current
management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise from past
events, whose existence would be confirmed by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Company. A contingent liability
also arises, in rare cases, where a liability cannot be recognised because it cannot be
measured reliably.

xi) Cash Flows

Cash flows are reported using the indirect method, where by 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 are
segregated.

xii) Investments

Investment property is a property held to earn rentals and capital appreciation. Investment
property is measured initially at cost, including transaction costs. Subsequent to initial
recognition, investment property is measured in accordance with Ind AS 16's requirements for
cost model.

Investment properties are derecognised either when they have been disposed of or when they
are permanently withdrawn from use and no future economic benefit is expected from their
disposal. The difference between the net disposal proceeds and the carrying amount of the
asset is recognised in profit or loss in the period of derecognition.

xiii) Expenditures

Finance Costs: Borrowing costs on financial liabilities are recognised using the EIR.

Other Expenses: Expenses are recognised on accrual basis net of the goods and services
tax, except where credit for the input tax is not statutorily permitted.

xiv) Foreign currency transactions

Transactions in foreign currencies are translated into the Company’s functional currency at
the exchange rates at the dates of the transactions. Monetary assets and liabilities
denominated in foreign currencies are translated into the functional currency at the exchange
rate at the reporting date. Non-monetary assets and liabilities that are measured at fair value
in a foreign currency are translated into the functional currency at the exchange rate when the
fair value was determined. Non-monetary items that are measured based on historical cost in
a foreign currency are translated at the exchange rate at the date of the transaction. Foreign
currency differences are generally recognised in profit or loss.

The gain or loss arising on translation of nonmonetary items measured at fair value is treated
in line with the recognition of the gain or loss on the change in fair value of the item (i.e.,
translation differences on items whose fair value gain or loss is recognised in OCI or profit or
loss are also recognised in OCI or profit or loss, respectively).

xv) Benami Property held under Prohibition of Benami Property Transactions Act,

1988 and rules made thereunder

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

xvi) Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the
current financial year and any of the previous financial years.

Note 33: Disclosures as required under Section 22 of MSMED Act, 2006

The information regarding Micro Small Enterprises has been determined on the basis of
information available with the Company which is as follows:

Note 36: Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided
to the Chief Operating Decision Maker (“CODM”) of the Company. The CODM, who is
responsible for allocating resources and assessing performance of the operating segments,
has been identified as the Managing Director of the Company The Company operates only in
one Business Segment i.e. “Financial Activities”, hence does not have any reportable
Segments as per Ind AS 108 “Operating Segments”.

Note 37: Financial instruments - Fair values and risk management

The fair value of the financial assets are included at amounts at which the instruments
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 value

a) Fair value of cash and short-term deposits, trade and other short-term receivables, trade
payables, other current liabilities, approximate their carrying amounts largely due to the short¬
term maturities of these instruments

b) Finandal 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 the expected
losses of these receivables.”

B. Fair Value Hierarchy

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.

Financial Risk Management

Risk management framework

A wide range of risks may affect the Company’s business and operational / financial
performance. The risks that could have significant influence on the Company are market risk,
credit risk and liquidity risk. The Company’s Board of Directors reviews and sets out policies
for managing these risks and monitors suitable actions taken by management to minimise
potential adverse effects of such risks on the company’s operational and financial
performance.

Market risk

Market Risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market prices. Market risk comprises three types of risk:
currency risk, interest rate risk and other price risk.

Currency risk

The Company is not much exposed to currency risk.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a
financial instrument fails to meet its contractual obligations, and arises principally from the
Company’s trade and other receivables, cash and cash equivalents and other bank balances.
To manage this, the Company periodically assesses financial reliability of customers, taking
into account the financial condition, current economic trends and analysis of historical bad
debts and ageing of accounts receivable. The maximum exposure to credit risk in case of all
the financial instruments covered below is restricted to their respective carrying amount.

Note 38: Capital management

For the purpose of the Company’s capita! management, capital includes issued equity capital
and all other equity reserves attributable to the equity holders of the Company. The Company
strives to safeguard its ability to continue as a going concern so that they can maximise returns
for the shareholders and benefits for other stake holders. The aim to maintain an optimal
capita! structure and minimise cost of capital.

Note : For the purpose of computing total debt to total equity ratio, total equity includes equity
share capital and other equity and total debt includes long term borrowings, short term
borrowings, long term lease liabilities and short term lease liabilities.

Note 39: Corporate Social Responsibility

The Provision for CSR are not applicable as per Section 135 of Companies act 2013.

Note 40: ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III TO
THE COMPANIES ACT, 2013

1. The Company does not have any benami property held in its name. No proceedings have
been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

2. The Company has complied with the requirement with respect to number of layers as
prescribed under section 2(87) of the Companies Act, 2013 read with the Companies
(Restriction on number of layers) Rules, 2017.

3. Utilisation of borrowed funds and share premium

(i) 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
beneficiaries.

(ii) The Company has 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.

4. There is no income surrendered or disclosed as income during the year in tax assessments
under the Income Tax Act, 1961 {such as search or survey), that has not been recorded in the
books of account.

5. The Company has not traded or invested in crypto currency or virtual currency during the
year.

6. The Company does not have any charges or satisfaction of charges which is yet to be
registered with Registrar of Companies beyond the statutory.

7. During the year, the company has not announced any dividend during the year.

8. The Company has not been declared wilful defaulter by any banks.

Note 41 : Prior year comparatives

Previous year’s figures have been regrouped or reclassified, to conform to the current year’s
presentation wherever considered necessary.

For, S K Bhavsar & Co. For & on behalf of the Board of Directors of

Chartered Accountants Leading Leasing Finance and Investment Company Limited

Firm Registration No. 145880W

Shlvam Bhavsar Kurjibhai Rupareliya Parshottambhai Rupareliya

Proprietor {Managing Director) {Director)

Membership No. 180566 {DIN: 05109049) (DIN: 02944037)

UDIN: 25180566BMHTTH1737

Jinesh M Shah

CFO

Place: Ahmedabad Place: Mumbai

Date: May 30, 2025 Date: May 30, 2025