* The Board of Company had provided financial commitment to its subsidiary Emagine People Technologies Private Limited ^100,00 ('000) and a step down subsidiary RecCloud Technologies Private Limited ^300,00 ('000) to fund their eventual losses up to committed amount through additional lending over and above the amount lent at balance sheet date, in the event they do not reverse their losses which have presently eroded their net worth in previous year and has been continued for the current year.

28. The Company is a Small and Medium Sized Company ("SMC") as defined in the General Instructions in respect of Accounting Standards notified under the Companies Act, 2013. Accordingly, the Company has complied with the Accounting Standards as applicable to a SMC. he Company is covered under definition of SMC. Hence, segment information as required as per AS 17 is not disclosed.

29. Employee Benefits:

Defined Contribution Plan:

Provident Fund:

The Company makes Provident Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs i e 12% to fund the benefits, maximum to the extent of ?1,800 per month per qualified employee.

Defined Benefit Plans

The Company offers to its employee's defined benefits plan in the form of Gratuity.

This represents benefits to employees on the basis of number of year of service rendered by respective employee. The employee is entitled to receive the same on retirement or resignation in accordance with the Payment of Gratuity Act.

30.TDisclosures with regard to the new amendments under "Division I of Schedule III" under "Part I - Balance Sheet - General Instructions for preparation of Balance Sheet" in relation to the following clauses Y (i), (ii),

(iii), (iv), (v), (vi), (vii) (viii), (ix), (x), (xi), (xiii), and (xiv) are as under:

(i) The Company does not have any immovable property whose title deeds are not in the name of the Company.

(ii) The Company has not revalued any of its property during the year.

(iii) The Company has not granted loans to promoters, Directors, KMPs, either severally or jointly with any other person. Details of Loan granted to the related parties are given in Note 34.

(iv) Capital-Work-in Progress (CWIP):

(v) The Company does not have any Intangible assets under development

(vi) There are no proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made thereunder

(vii) The Company does not have any borrowings from banks or financial institutions on the basis of security of current assets.

(viii) The Company has not been declared a Wilful Defaulter by any bank or financial institution or consortium thereof in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

(ix) The Company has not entered into any transaction with companies struck off under section 248 of the Companies Act 2013.

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

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

(xiii) The Company has not entered into any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013.

(xiv) a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies),

EMA PARTNERS INDIA PRIVATE LIMITED Notes forming part of Financial Statement for the year ended 31 March 2024

including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

b) No funds have been received by the company from any person(s) or entity(ies), including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

c) The Company has not declared or paid any dividend during the year.

Disclosure with regard to the new amendments under "Division I of Schedule III" under "Part II - Statement of Profit and Loss - General Instructions for preparation of Statement of Profit and Loss" in relation to the following clauses are as under:

(i) The Company does not have transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income during financial year in the tax assessments under the Income Tax Act, 1961.

(ii) The Company is not requiring to spend for Corporate Social Responsibility (CSR).

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

Disclosures in respect of Office Premises: a. Significant leasing arrangements

i. The Company has given refundable interest free security deposits under all agreements of premises taken on operating lease.

ii. Certain agreements contain provision for renewal.

iii. Certain agreements contain provision for early termination by either party by giving prior notice in writing.

iv. None of the agreements permits the Company to enter into sub-lease arrangements in respect of leased assets.

34. Impairment

• The entire net worth of a subsidiary Emagine People Technologies Private Limited has been eroded as at March 31, 2024. Further, during the year, major revenue has been from the group companies and employees are also transferred to other group companies. The Management has assessed the present position and has plans to revive the Company through restructuring of operations in coming financial year including looking for merger as a going concern with any group entity. Considering the same, the management has made 100% provision towards impairment of this investment even though the Company has financial and operational support of the holding Company based on which accounts of the said subsidiary has been prepared on going concern basis.

• In case of subsidiary EMA Decision Dynamics Private Limited, its management has decided to drop the business plan to provide services as stated in the Memorandum of Association and there is no other business plan underway. The financial statements have also not been prepared on going concern assumption. Hence the management has made provision towards impairment of this investment based on the expected realizable value of its investment in the said subsidiary.

• There is no impairment of any other asset identified by the Management and accordingly, no other provision towards impairment is made in the books of account.

35. The Company has asked for information from its suppliers to compile information from them about their coverage under the Micro Small and Medium Enterprises Development Act 2006. Based on the information available with the Company and to the extent so identified by Company there are no dues pending at the end of the year to any suppliers registered as Micro, Medium or Small enterprises under the said Act.

37. Previous year figures have been regrouped or rearranged wherever necessary to conform to current year's presentation.