B. Fair value of Investment Property

- Fair Value of Leasehold Land is ' 1,155.50 lacs and such fair value is based on the valuation by registered valuer as on March 31,2023.

- Sub-leasing of building taken on lease is the building taken on long-term lease by the company and which have been further rented out for period of less than 12 months- Fair value was not measured as these are actually the effective portion of present value of lease rent of building taken on lease.

C. Measurement of fair values

i. Fair value hierarchy

The fair value of the above leasehold land has been determined by an external independent valuer registered under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017. The fair value measurement for the property to be valued is residential plot which is the highest and best use, been categorised as a level 2 fair value based on the inputs to the valuation technique. These inputs include comparable sale instances for Market Approach.

ii. Valuation technique

For the purpose of valuation, the primary valuation methodology used is Market Approach, as the best evidence of fair value is current prices in an active market for similar properties. The market rate for sale/purchase of similar assets is representative of fair values. The property to be valued is at a location where active market is available for similar kind of properties.

b. Rate of Interest

- For borrowings against fixed deposits - ROI is FD rate Spread varies (0.75% to 1.00%) [Previous year: FD rate Spread varies (0.50% to 0.75%)] payable on monthly basis.

- For borrowings against property - @ ROI of 9.5% p.a. [Previous year: ROI is 1 year MCLR & 6 months MCLR Spread of 200 to 210 basis point] payable on monthly basis.

- For unsecured loans (repayable on demand) - ROI @ Range of 12% to 14% p.a [Previous year : ROI is fixed @ 8%p.a] payable on quarterly basis.

c. The Company has not defaulted in repayment of any borrowings and interest thereon for the year ended March 31,2024 and March 31,2023.

a.) Terms/Rights attached to Equity Shares

The Company has only one class of equity shares, each having a par value of ' 10 per share. All these shares have same rights & preferences with respect to payment of dividend, repayment of capital and voting.

I n the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders.

f.) Issue of Shares under Rights cum Warrant Issue:

During the financial year 2022-23, the Company came up with a Rights Issue of 638,131 equity shares (1 right share for every 50 shares held) of face value of ' 10/- each on right basis (Rights Equity Shares) with 10,848,227 detachable warrants (17 warrants for every 1 right equity shares allotted). In accordance with the terms of issue, ' 4,466.92 Lacs i.e 100% of the Issue Price of '700/- (including premium of '690/-) per Rights equity share along with '18,984.40 Lacs (i.e. 25% of the Issue Price per Share warrant), was received and allotment was made to eligible allottees. The warrant holders can exercise their option to convert detachable warrants into equity shares till September 23, 2024, upon payment of ' 525/- per warrant i.e., the remaining 75% of the issue price.

h.) No shares were bought back and also, no shares were allotted as fully paid up by way of bonus issue during the period of 5 years immediately preceding the reporting date.

However, during the financial year 2019-20, 74,82,000 equity shares were issued pursuant to, and as part of, the merger of Total Securities Limited with the Company. Accordingly, the consideration for these shares was not received in cash.

Nature & Purpose of Reserves:

Capital Reserve: Capital reserve represents reserves created pursuant to the business combination. It is the difference between value of net assets transferred to the Company in the course of business combinations and the consideration paid for such combinations.

Securities Premium: It represents the surplus of proceeds received over the face value of shares, at the time of issue of shares. It can be utilised only for limited purposes such as issuance of bonus shares, writing off the preliminary expenses in accordance with the provisions of the Companies Act, 2013.

General Reserve: Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

Retained Earnings: These are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to Shareholders.

Equity-settled Share Options Outstanding Reserve: This reserve is created by debiting the statement of profit and loss account with value of share options granted to the employees. Once shares are issued by the Company, the amount in this reserve will be transferred to share capital, securities premium or retained earnings.

Other Comprehensive Income: This represents the cumulative gains and losses arising on the fair valuation of investments measured at fair value through other comprehensive income and present value of Defined benefit obligation.

Money received against Share Warrants: It represents the funds received by the Company towards the issue of shares warrants against which the holders will be issued equity shares at the specified date upon the payment of full and final consideration.

(a) Guarantees given:-

1) The Company has given Corporate Guarantee of ' 19,800 Lacs as on March 31,2024 (Previous Year ' 3,000 Lacs) to its wholly owned subsidiary, Share India Algoplus Private Limited [formerly known as Total Commodities (India) Private Limited], as security in respect of financial assistance / facility taken by the said company from the Bank.

2) The Company has provided bank guarantees aggregating to ' 1,52,775.00 Lacs as on March 31,2024 (Previous Year ' 1,22,504.05 Lacs) for the following purposes to:

(i) NSE Clearing Limited - ' 1,20,086.25 lacs (previous year ' 1,02,286.25 lacs) for meeting Margin requirements

(ii) NSE Clearing Limited - ' 100.00 lacs (previous year ' 125.00 lacs) as Security Deposit (BMC)

(iii) Bombay Stock Exchange - ' 48.75 lacs (previous year ' 48.75 lacs) as Security Deposit (BMC)

(iv) Indian Clearing Corporation Limited - ' 80.00 lacs (previous year ' 380.00 lacs) for meeting Margin requirements

(v) National Stock Exchange - Nil for right issue (previous year : ' 504.05 Lacs)

(vi) MCX Clearing Corporation Limited - ' 62.50 lacs (previous year ' 62.50 lacs) as Security Deposit (BMC)

(vii) MCX Clearing Corporation Limited-' 31,967.00 lacs (previous year ' 17,703.00 lacs) for meeting Margin requirement

(viii) National Commodity & Derivatives Exchange - ' 62.50 lacs (previous year ' 62.50 lacs) as Security Deposits (BMC)

(ix) National Commodity Clearing Limited-' 368.00 lacs (previous year ' 1,332.00 lacs) for meeting Margin requirement

The Company has pledged fixed deposits with banks aggregating of ' 74,138.55 lacs (previous year: ' 59,108.80 lacs) for obtaining above bank guarantee.

The property pledged with banks aggregating to ' 2,413.45 lacs (previous year: ' 2,395.24 lacs) for obtaining above bank guarantee.*

* [The above propery pledged for obtaining bank guarantee are the property owned by company and its promoters, directors, and it represents the market value of property],

(b) Demand in respect of income tax matters # :-

(i) The Company has outstanding demand of ' 9.14 lacs related to Assessment Year 2008-09 and ' 2.68 lacs is related to Assessment Year 2015-16 in respect of Income Tax matters.

(ii) Demand of' 78.41 lacs in respect of income tax matters related to Assessment Year 2013-14 in respect of income tax matters against which appeal is filed before CIT(Appeals), and the case is still pending.

#The Company is contesting these demands and the management believe that its position will likely to be upheld in the appellate process/rectifications etc. and accordingly no provision has been accrued in the financial statements for these tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company’s financial position and results of operations.

Based on favourable decisions in similar cases, the Company does not expect any liability against these matters in accordance with principles of Ind AS -12 ‘income taxes’ read with Ind AS -37; Provisions, Contingent Liabilities and Contingent Assets' and hence no provision has been considered in the books of accounts for such instances.

The above amounts contain interest and penalty where included in the order issued by the department to the Company.

Note 42 Segment reporting

As per Ind AS-108 para 4, Segment reporting has been disclosed in Consolidated financial statement. Hence, no separate disclosure has been given in standalone financial statements of the Company.

Note 44 Leases

(1) Company as a Lessee:

The Company has taken various office premises on lease for a period ranging from 11 months to 120 months with an option to renew the lease on mutually agreeable terms. Leases for which the lease term is less than 12 months have been accounted as short term leases. Please refer Note 2.4 regarding accounting policy on leases.

The information about the lease for which Company is a lessee is presented below:-

A). Carrying value of Right-of-use assets and depreciation thereon has been disclosed in Note 15(c)

(B) Defined benefit plans

The Company offers its employees defined-benefit plans in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans are typically based on years of service and the employee's compensation (last drawn basic salary immediately before retirement). The gratuity scheme covers substantially all regular employees. Such plan exposes the Company to actuarial risks such as: Interest rate risk, Liquidity Risk, Salary Escalation Risk, demographic risk and Regulatory Risk, defined as follows:

Interest Rate Risk:

The plan exposes the Company to the risk of falling interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability.

Liquidity Risk:

This is the risk that the Company may not be able to meet the short-term gratuity payouts. This may arise due to non availabilty of enough cash/cash equivalents to meet the liabilities or holding of liquid assets not being sold in time.

Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have bearing on the plan's liabilty.

Demographic Risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of '20,00,000 etc.).

- The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields/ rates available on applicable bonds as on the current valuation date.

- The salary growth rate indicated above is the Company's best estimate of an increase in salary of the employees in future years, determined considering the general trend in inflation, seniority, promotions, past experience and other relevant factors such as demand and supply in employment market, etc.

- Attrition rate indicated above represents the Company's best estimate of employee turnover in future (other than on account of retirement, death or disablement) determined considering various factors such as nature of business, retention policy, industry factors, past experience, etc.

- Mortality rate is a measure of the number of deaths (in general or due to specific cause) in a population, scaled to the size of that population, per unit of time.

Note 46 Employees Stock Option Plan

The Company has in place following employee stock option plans, as approved by shareholders of the Company in compliance

with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021:

a) Share India Employees Stock Option Scheme, 2022: In accordance with this scheme, 600,000 Share options were

approved for issue to the eligible employees, at an exercise price of ' 10 per share. As per the scheme, the company is

obliged to settle them by issue of equal number of equity shares. Out of the above approved options, 262,060 options have been granted to the eligible employees with vesting period of 1 year and exercise period of maximum 6 months.

b) Share India Employees Stock Option Scheme - II: In accordance with this scheme, 100,000 Share options were

approved for issue to the eligible employees, at an exercise price as may be determined by Nomination & Remuneration

committee. As per the scheme, the company is obliged to settle them by issue of equal number of equity shares. Out of the above approved options, 75,400 options have been granted to the eligible employees with vesting period of 3 years and exercise period of maximum 1 year.

C. Fair Value methodology and Assumptions

Fair value: The Company has adopted ‘fair value method' using the Black-Scholes options pricing model for accounting of employee share based compensation cost. Under the fair value method, fair value of options are expensed on straight-line basis over the vesting period as employee share based compensation cost.

Stock Market Price: As the Company is listed on a Stock Exchange thus, the historical share price for the relevant period is readily available. The fair value of the underlying stock based on the latest available closing Market Price on NSE has been considered for valuing the grant.

Expected Volatility: Volatility is a measure of the amount by which a price has fluctuated or is expected to fluctuate during the period. The measure of volatility is used in the Black Scholes option-pricing model is the annualized standard deviation of the continuously compounded rates of return on the stock over a period of time.

The period to be considered for volatility has to be adequate to represent a consistent trend in the price movements. It is also important that movement due to abnormal events get evened out. The expected volatility for the options issued by the company has been determined after observing the Company's historical volatility.

Risk-free rate of return: This is based on the yields on government bonds of term equivalent to the expected life of the option as on the date of grant.

Exercise Price: It is the price at which a specific derivative contract can be exercised. The exercise price has been taken based on a sample ESOP Contract signed with an employee. The exercise price for each grant has been provided and confirmed by the Company.

Weighted average remaining contractual life: Time to Maturity / Expected Life of Options is the period for which the Company expects the Options to be alive. The minimum life of a stock option is the minimum period before which the Options cannot be exercised and the maximum life is the period after which the Options cannot be exercised. The expected life of the option has been taken based on the inputs on expected exercise year provided by the Company.

Expected dividend yield: The Company has historically paid dividends and have a dividend payment policy in place. It should be noted that the dividend yield has been derived by dividing the dividend per share by the market price per share as on the date of grant.

Note 48 Fund Utilisation of the amounts raised through Public

Rights Issue Proceeds and Detachable Warrants:

During the financial year 2022-23, the Company came up with a rights issue of 638,131 equity shares (1 right share for every 50 equity shares held) of face value of ' 10/- each (“Rights Equity Shares”) along with 10,848,227 detachable warrants (17 warrants for every 1 Right Equity Shares). The Rights Equity Shares as well as the detachable warrants were issued at a price of ' 700/-each (including premium of ' 690/- each). The total issue size was ' 80,404.51 lacs which consists of Right shares of ' 4,466.92 lacs and Detachable warrant of ' 75,937.59 lacs.

Out of above issue size, ' 23,451.31 lakhs were raised/collected by the Company consisting of 100% of right proceeds and 25% of warrant issue proceeds and the allotment was made to eligible allottees. And as on March 31,2023, remaining ' 56,953.19 lacs [representing 75% of warrant issue proceeds] was due to be raised/collected from the concerned allotees as and when they exercise their right to convert the warrants into equity shares.

For amount yet to be raised, the warrant holders can exercise their option to convert detachable warrants into equity shares till September 23, 2024 (i.e. 18 months from the date of allotment of warrants), upon payment of ' 525/- per warrant i.e., the remaining 75% of the issue price of the warrants.

Out of the above remaining amount, the company raised a sum of '29,521.77 lacs in the current year 2023-24 from the warrant holders for conversion of warrants into equity shares and as on March 31, 2024, '27,431.42 lacs is yet to be raised. Also, refer Note a below.

Note 53 Related Party Disclosures

The names of the related parties and nature of the relationship where control exists are disclosed irrespective of whether or not there have been transactions between the related parties during the year. For Others, the names and the nature of relationship is disclosed only when the transactions are entered into by the Company with the related parties during the existence of the related party relationship.

• The Company has measured its equity investments in subsidiary companies, at Cost as per Ind AS-27 ‘Separate Financial Statements’. Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. These instruments are included in level 1.

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

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(ii) . Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include :

• Quoted equity investments - Quoted closing price on stock exchange

• Mutual fund - Net asset value of the scheme

• Unquoted equity investments - Net assets value based on latest audited financials

(iii) . Financial instruments not measured at fair value

Financial assets not measured at fair value includes cash and cash equivalents, trade receivables, loans, deposits and other receivables. These are financial assets whose carrying amounts approximate fair value largely due to their short term nature.

Additionally, financial liabilities such as trade payables, borrowings and Lease liabilities are not measured at fair value, whose carrying amounts approximate fair value largely due to the nature of these liabilities.

Note 55 Financial risk management

Company has operations in India. Whilst risk is inherent in the Company's activities, it is managed through an integrated risk management framework, including ongoing identification, measurement and monitoring, subject to risk limits and other controls. This process of risk management is critical to the Company's continuing profitability and each individual within the Company is accountable for the risk exposures relating to his or her responsibilities. The Company is exposed to credit risk, liquidity risk and market risk. It is also subject to various operating and business risks.

A. 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. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

(i) Foreign Currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The company exposure to currency risk arises primarily on account of its proprietary positions and Loan to/ Investment in Subsidiaries operating Overseas or in IFSC. However, company at all times hedges the risk arising out of foreign currency exposure. Company's exposure to foreign currency risk at the end of reporting period is shown in Note 51.

(ii) Interest rate risk

The Company is exposed to Interest risk if the fair value or future cash flows of its financial instruments will fluctuate as a result of changes in market interest rates. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates.

The Company's interest rate risk arises from interest bearing deposits with bank. Such instruments exposes the Company to fair value interest rate risk. Management believes that the interest rate risk attached to this financial assets are not significant due to the nature of this financial assets.

(iii) Market price risks

The Company is exposed to market price risk, which arises from FVPL and FVOCI investments and Securities held for trade. The management monitors the proportion of these investments in its investment and holding portfolio based on market indices. Material investments and securities within the portfolio are managed on an individual basis and all buy & sell decisions are approved by the appropriate authority.

B. Liquidity Risk:

Liquidity risk is the risk that the entity will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The entity's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the entity's reputation.

Prudent liquidity risk management requires sufficient cash and marketable securities and availability of funds through adequate committed credit facilities to meet obligations when due and to close out market positions.

The Company has a view of maintaining liquidity with minimal risks while making investments. The Company invests its surplus funds in short term liquid assets in bank deposits and liquid mutual funds. The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its financial liabilities.

C. Credit Risk:

Credit risk is the risk that the Company will incurr a loss because its customers or counterparties fail to discharge their contractual obligation. The Company manages and controls credit risk by setting limits on the amount of risk it is willing to accept for individual counterparties, and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of financial instruments presented in the financial statements. The Company's major classes of financial assets are cash and cash equivalents, loans, investments, term deposits, trade receivables and security deposits.

Deposits with banks are considered to have negligible risk or nil risk, as they are maintained with high rated banks / financial institutions as approved by the Board of directors.

Note 56 Capital Management

The company’s objectives when managing capital are to:

- safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

- maintain an optimal capital structure to reduce the cost of capital.

The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment plans. The funding requirements are met through equity, operating cash flows generated and short term debt. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. In addition to above the Company is required to maintain a minimum networth as prescribed from time to time by the Securities and Exchange Board of India (Stock brokers and sub-brokers) Regulations, 1992. The management ensures that this is complied at all times.

Note 59 Other Regulatory requirements

a. Ratios

Additional regulatory information requires disclosure of ratios under (WB) (xiv) of Division III of amended Schedule III of the Companies Act, 2013.The disclosure of ratios is not applicable to the Company as it is in broking business and the Company has not conducted any Non-Banking Financial activities or any Housing Finance activities and is not required to obtain Certificate of Registration (CoR) from the Reserve Bank of India (RBI) as per section 45-IA of Reserve Bank of India Act, 1934.

b. Title deeds of immovable property not held in the name of the company

The Company holds title deeds of all the immovable property (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) in the name of the company.

c. Fair Valuation of Investment Property, and Revaluation of Property, Plant & Equipments, and Intangible Assets

The Fair value of investment property disclosed in Note 15(a) is based on the valuation by a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.

Further, the company has not revalued its Property, Plant & Equipments, and Intangibles Assets during the year.

d. Capital Work-in progress

There are no capital work in progress, thus, such disclosure is not required.

e. Intangible assets under development

The company does not have any Intangible assets under development.

f. Relationship with struck off companies

The company did not have any transaction with companies struck off under section 248 of the Companies Act, 2013, as such no declaration is required to be furnished.

g. Registration of Charge/Satisfaction

There are no charges or satisfaction, which is yet to be registered as on March 31,2024, with the Registrar of Companies beyond the Statutory period.

h. Details of benami Property

No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules there under.

i. Wilful defaulter

The company has not made any default in the repayment of any borrowing, as such the declaration as wilful defaulter is not applicable.

j. Compliance with number of layer of Companies

The company has not made any non compliance in respect of the number of layers prescribed under clause (87) section 2 of the Act read with Companies (Restriction on number of layers) Rules, 2017.

k. Cryptocurrency or Virtual Currency

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

l. Compliance with approved scheme (s) of arrangements

During the financial year ended March 31, 2024, the Board of Directors of the Company approved the scheme of amalgamation of Silverleaf Capital Services Private Limited with Share India Securities Limited (Company) under Section 230 to 232 of the Companies Act, 2013. The Scheme of Amalgamation shall be subject to necessary statutory and regulatory approvals including the approval of the Stock Exchanges, Securities and Exchange Board of India, the National Company Law Tribunal, the Registrar, the Official Liquidator (as may be applicable) and/or such other competent authorities, as may be required under applicable laws.

As on the balance sheet date, such approval of scheme from regulator/s is still under process.

m. Undisclosed Income

There were no previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

n. Utilisation of borrowed fund & 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 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, provided 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 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, provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

o. In respect of Borrowings secured against current assets:

Quarterly returns or statements of current assets filed by the company with banks or financial institutions are in agreement with the books of accounts.

p. Loans/Advance granted to Directors, Promoters, or Key Managerial Personnel

The company has not granted any loans or advances in the nature of loans to the Directors, Promotors, Key Managerial Personnel and their relatives.

However, the company granted loans to its related parties; and reported such amount in Note 9 of the Financial Statements.

q. Disclosures under Section 186 of the Companies Act, 2013

The Company has complied with the provisions of Sections 186 of the Companies Act, 2013, in respect of loans granted, investments made and guarantees given in the current year or previous year. Refer Note 9 and 10 for details.

Note 61 Events after the reporting date

There were no significant events after the end of the reporting period which require any adjustment or disclosure in the financial statements. In terms of Ind AS-10 “Events occuring after reporting period”, the company has not recognised Final dividend (recommended by the board) as a liability at the end of the reporting period.

Note 62 Note on Code on Social Security’ 2020

The Code on Social Security 2020 (‘the Code') relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020.. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued.

The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the year in which, the Code becomes effective and the related rules to determine the financial impact are published.

NOTE 63 Previous year figures have been regrouped/ reclassified and rearranged whenever necessary to correspond with the current year's classification/ disclosure.