(r) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised if, as a result of a past event, the group has a present legal or constructive obligation that can be
estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.

Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are
lower than the unavoidable costs of meeting the future obligations under the contract.

A disclosure for contingent liabilities is made where there is a possible obligation or a present obligation that may probably not
require an outflow of resources or an obligation for which the future outcome cannot be ascertained with reasonable certainty.
When there is a possible or a present obligation where the likelihood of outflow of resources is remote, no provision or disclosure
is made.

Contingent assets are neither recognized nor disclosed in financial statements.

(s) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker
(CODM).

(t) Leases

The Company's lease asset classes primarily consist of leases for Land and Buildings. The Company assesses whether a contract
is or contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the
use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to
control the use of an identified asset, the Company assesses whether:

(a) the contract involves the use of an identified asset

(b) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and

(c) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognises a right-of-use asset (“ROU”) and a corresponding lease
liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short term leases)
and leases of low value assets. For these short term and leases of low value assets, the Company recognises the lease payments
as an operating expense on a straight-line basis over the term of the lease.

The right-of-use assets are initially recognised at cost, which comprises the initial amount of the lease liability adjusted for any
lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives.
They are subsequently measured at cost less accumulated depreciation and impairment losses, if any. Right-of-use assets are
depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the
underlying asset.

The lease liability is initially measured at the present value of the future lease payments. The lease payments are discounted using
the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates. The lease liability is
subsequently remeasured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount
to reflect the lease payments made. A lease liability is remeasured upon the occurrence of certain events such as a change in the
lease term or a change in an index or rate used to determine lease payments. The remeasurement normally also adjusts the
leased assets.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as
financing cash flows.

Details of Tax Losses and Unabsorbed Depreciation

The Company has unused tax losses of Rs.2,75,871.17 thousands (as at 31st March, 2024 - Rs.2,13,285.09 thousands).
The losses of Rs.2,75,871.17 thousands can be carried forward for 8 assessment years. The Company has not recognised
any tax credit on the same in view of uncertanity as to recoverability of those losses.

Note No. 18

Disclosure Pursuant to IND AS - 19 "Employee Benefits"

The Company has made provision for leave entitlement and gratuity as per its Accounting Policies as stated in Note No.1
above which is in variance with Ind AS 10 - Employee Benefits. However, the same does not have material impact on the
financial statements of the Company.

Note No. 19

Micro, Small and Medium Enterprises (MSME)

The details of amounts outstanding to Micro, Small and Medium Enterprises under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act), based on the available information with the Company are as under:

Note No. 22
Segment Reporting

The Company's Board of Directors consisting of Managing Director has been identified as the Chief Operating Decision
Maker (CODM) as defined under Ind AS 108 "Operating Segments". The CODM evaluates the Company's performance and
allocates the resources based on an analysis of various performance indicators. The Company is primarily engaged in
business of Investments and dealing in shares, securities and derivative instruments for the purpose of reporting under Ind
AS 108 - on "Segment Reporting". Since all these segments meet the aggregation criteria as per the requirements of Ind AS
108 on 'Operating segments', the management considers these as a single reportable segment. Accordingly, disclosure of
segment information has not been furnished.

Note No. 24
Financial Instruments

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.

Fair Value Estimation

For financial instruments measured at fair value in the Balance Sheet, a three level fair value hierarchy is used that
reflects the significance of inputs used in the measurements. The hierarchy gives the highest priority to unadjusted
quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to
unobservable inputs (Level 3 measurements).

The Company uses the following hierarchy for determining and disclosing the Fair Value of Financial

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.

Note No. 25
Capital Management

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and
maintain an optimal capital structure to reduce the cost of capital. The capital structure of the Company is based on
management's judgement of the appropriate balance of key elements in order to meet its strategic and day-to-day
needs. Management considers the amount of capital in proportion to risk and manage the capital structure in light of
changes in economic conditions and the risk characteristics of the underlying assets.

The Company's policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain
investor, creditors and market confidence and to sustain future development and growth of its business. The Company
will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

Note No. 26

Financial Risk Management

The Company's principal financial liabilities comprise loans and borrowings, advances and trade and other payables.
The purpose of these financial liabilities is to finance the Company's operations and to provide to support its operations.
The Company's principal financial assets include loans, Investments, trade and other receivables, and cash and cash
equivalents that derive directly from its operations.

The Company's activities exposes it to Liquidity Risk, Market Risk and Credit risk. The Board of Directors reviews and
agrees policies for managing each of these risks, which are summarised as below.

Liquidity Risk

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by
delivering cash or another financial asset. Liquidity risk management implies maintenance of sufficient cash including
availability of funding through an adequate amount of committed credit facilities to meet the obligations as and when
due.

The Company does not have any undrawn borrowing facilities as on March 31, 2025 and March 31, 2024. The
borrowings availed by the Company is from the Promotors and as per contractual terms they are short term in nature

Credit Risk

Credit risk is the risk of financial loss to the Company if a broker of Recognised Stock Exchange or counter-party to a
financial instrument fails to meet its contractual obligations, and arises principally from the Company's receivables from
customers and loans and advances.

There is no amount receivable from customers during the year.

(ii) Other financial assets

The Company has exposure in cash and cash equivalent, deposits and employee loans carried at amortised cost. The
investments are carried at fair value. The Company's maximum exposure to credit risk as at 31st March, 2025 is the
carrying value of each class of financial assets as on that date.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Company has borrowings bearing fixed rate of interest.

Price Risk

The Company is exposed to equity price risk arising from investments held by the Company and classified in the
balance sheet at fair value through profit or loss.

Sensitivity analysis - Equity price risk

The table below summaries the impact of increases / decreases of the index on the Company's equity and profit for the
year. The analysis is based on the assumption that the equity / index had increased by 2% or decreased by 2% with all
other variables held constant, and that all the Company's investments in equity instruments moved in line with the index.

Note No. 27
Going Concern:

The financial statements of the Company have been prepared on the principles of a going concern basis, which
contemplated the realization of assets and the satisfaction of liabilities in the normal course of business. The Company
has been incurring losses for the past few years and its net worth has been fully eroded. Also, the Company's financial
liabilities exceeded its financial assets as on 31st March, 2025. These conditions indicate the existence of a material
uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. However, in view
of comfort received from the Promoters and their Associates to the effect that they will be continuing to provide financial
support to the Company, these financial statements have been prepared on a going concern basis.

Note No. 28

Recent Accounting Pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. For the year ended 31st March, 2025, MCA has not
notified any new standards or amendments to the existing standards applicable to the Company.

Note No. 29

Convertible Equity Warrants

During the previuos year, the Company had issued 6,85,000 Convertible Equity Warrants at a price of Rs.100 each
entitling them for subscription of equivalent number of equity shares of Rs.10 each (including premium of Rs.90 each
share) to Promoter and Promoter Group on private placement basis on 16th March, 2024 against receipt of subscription
of Rs.17,125.00 thousands (25% of the warrants value) in accordance with Chapter V of SEBI (Issue of Capital &
Disclosure Requirements) Regulations, 2018.The holder of the warrants would need to exercise the option to subscribe
to equity shares before the expiry of 18 months from the date of allotment made on 16th March, 2024 by paying the
balance 75% of the consideration of warrants. In case of non payment of the balance amount before the expiry period,
the application money will be forfeited.

Out of the above isssue,on exercise of the option by holders of warrants, the Company has issued and allotted 4,00,000
equity share of Rs.10 each (including premium of Rs.90 each share) on 20th June, 2024 on receipt of balance 75% of
warrant amount i.e. Rs 30,000.00 thousands. In the previous year, the Company had issued and allotted of 2,85,000
equity share of Rs.10 each (including premium of Rs.90 each share) on 28th March, 2024 on receipt of balance 75% of
warrant amount i.e. Rs 21,375.00 thousands.

The funds have been utilised for the purposes for which it were raised.

Note No. 31 - Other statutory information:

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

(ii) The Company does not have any immovable properties (other than properties where the Company is the
lessee and the lease agreements are duly executed in favor of the lessee) whose title deeds are not held in
the name of the Company.

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

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

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

(vi) 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.

(vii) 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.

(viii) The Company does not have any such transaction which is not recorded in the books of accounts that has
been surrendered or disclosed as income during the period 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.

(ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with the Companies (Restriction on number of Layers) Rules, 2017.

(x) The Company is not declared wilful defaulter by and bank or financials institution or lender during the year.

Note No. 32 - The financial statements were approved for issue by the Board of Directors on 29th April, 2025.

Note No. 33 - The figures of the previous years have been regrouped or reclassified wherever necessary to make

them comparable.

(iii) Sectoral Disclosure

The Company has no sectoral disclosure in current and previous year.

(iv) Intra Group Exposure

The Company has no intra group exposure in current and previous year.

(v) Unhedged foreign currency exposure

The Company has no unhedged foreign currency exposure in current and previous year.

(vi) Related Party Disclosure

Details of all material transactions with related parties are disclosed in Note 23.

(vii) Disclosure of complaints

The Company has nil compliants received from customers in current and previous year.

Signatures to Notes 1 to 35

For and on behalf of the Board of Directors

Sd/- Sd/- Sd/- Sd/-

A. D. JAIPURIA A. A. JAIPURIA SANJAY NAWAL AASHI PANCHAL

Place: Mumbai Managing Director Director Chief Financial Company Secretary

Date: 29th April, 2025 DIN:00025537 DIN:00025586 Officer