21. 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.

Terms / rights attached to Equity
9.2 Shares:

The Company has only one class of equity shares having a par value of Rs. 10/-. Each holder of
equity shares is entitled to one vote per share. The Company declares and pays dividends if any,
in Indian rupees. The dividend proposed, if any, by the Board of Directors is subject to the
approval of the Shareholders at the ensuing Annual General Meeting, except in case of interim
dividend.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive
any of the remaining assets of the Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by the Shareholders.

21 Segment Reporting

The Company's Board of Directors 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 allocated the
resources based on an analysis of various performance indicators . The Company is primarily engaged in the
business of financial services . The same has been considered as business segment and the management
considers these as a single reportable segment. Accordingly, disclosure of segment information has not been
furnished.

22 Related party disclosures

There were no related party transaction.

23 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.

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 fa ir 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.

There were no significant changes in classification and no significant movements between the fair value hierarchy
classifications of financial assets and financial liabilities during the period.

24. Financial Risk factors

The Company's 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, trade and other receivables, and cash and
cash equivalents that derive directly from its operations.

Considering the size and the operations of the Company, it is not exposed to Liquidity Risk, Market Risk and
Credit Risk.

25. Capital Risk Management

The Company's objectives when managing capital are to:

(i) Safeguard their ability to continue as a going concern, so that thy can continue to provide returns for
shareholders and benefits for other stakeholders, and

(ii) Maintain an optional capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Company may issue new shares, adjust the amount of
dividends paid to shareholders etc. 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.

Exemptions and exceptions availed

A. Ind As optional exemptions

(i) Deemed Cost

The Company on first time adoption of Ind A, has elected to continue with the carrying value for all property,
plant & equipment and other intangible assets as recognized in the financial statements as at the date of
transition to Ind AS, measured as per the previous GAAP and use as its deemed costs as at the date of
transition.

(ii) Designed of previously recognized financial instruments

Paragraph D19B of of Ind AS 101 gives an opportunity to an entity to designate investments in equity
instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS. The
Company has opted to apply this exemption for its investment in equity investments.

B. Ind AS mandatory exemptions

(i) Estimates

An entity's estimates in accordance with Ind AS as at the date of transition to Ind AS shall be consistent with
estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any
difference in accounting policies).

Ind AS estimates as at April 01, 2016 are consistent with the estimates at the same date made in conformity
with previous GAAP. The Company made estimates for the following item in accordance with Ind AS at the
date of transition as these were not required under previous GAAP.

-Impairment of financial assets based on expected credit loss model.

(ii) Classification and measurement of financial assets

Ind AS 101 requires as entity to assess classification and measurement of financial assets (investment in
debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.

(iii) De-recognition of financial assets and financial liabilities

The Company has elected to apply derecognition requirements for financial assets and financial liabilities in
Ind As 109 prospectively for transactions occurring on or after the date of transition to Ind AS.

Transition to Ind AS-Reconciliations

There were no adjustments required to be carried out pursuant to the adoption of the Ind AS by the
Company. Hence, there are no reconciliation line items have been presented.

26. The Financial statements were approved for issue by the Board of Directors on 30.05.2024

27. The previous year's figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and
other disclosures for the preceding year are included as an integral part of the current annual financial statements
and are to be read in relation to the amounts and other disclosures relating to the current financial year.

28. There is no Intangible assets under development for the current year of the company.

29. Credit and Debit balances of unsecured loans, Trade Payables, sundry Debtors, loans and Advances are subject
to confirmation and therefore the effect of the same on profit could not be ascertained.

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

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

No proceeding has been initiated or pending against the Company for holding any Benami property under the
Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.

32. The company has not been declared as willful defaulter by any bank or financial institution or government or
government authority.

33. The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a) directly or indirectly lend to 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

34. The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

a) directly or indirectly lend to 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.

35. The company does not have transaction with the Companies struck off under section 248 of companies act, 2013
or section 560 of Companies act 1956.

36. The company is in compliance with the number of layers prescribed under clause (87) of section 2 of company's
act read with companies (restriction on number of layers) Rules, 2017.

37. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value
stated, if realized in the ordinary course of business.

38. Wherever external evidence in the form of cash memos / bills / supporting are not available, the internal
vouchers have been prepared, authorized and approved.

Statement of Management

(i) The current assets, loans and advances are good and recoverable and are approximately of
the values, if realized in the ordinary courses of business unless and to the extent stated
otherwise in the Accounts. Provision for all known liabilities is adequate and not in excess of
amount reasonably necessary.

(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read together with
Notes to the accounts thereon, are drawn up so as to disclose the information required under
the Companies Act, 2013 as well as give a true and fair view of the statement of affairs of the
Company as at the end of the year and results of the Company for the year under review.

40. The company has initiated the process of obtaining the confirmation from suppliers who have registered
themselves under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) but has
not received the same in totality. The above information is compiled based on the extent of responses received by
the company from its suppliers.

41. Compliance with approved scheme of Arrangements.

Company does not have made any arrangements in terms of section 230 to 237 of companies act 2013, and
hence there is no deviation to be disclosed.

42. Loans or Advances in the nature of loans

No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties
(as defined under Companies Act, 2013,) either severally or jointly with any other person.

For B B Gusani & Associates For and on behalf of the Board of Directors

Chartered Accountant

Firm Registration No.140785W

CA B B Gusani (K Ramakrishnan) (A. Govindaraj)

(Whole Time

Proprietor Director) (Director)

Membership No.120710 DIN: 00218129 DIN: 03496870

Place : Jamnagar

Date : 30.05.2024

UDIN 24120710BJZWDE4408

(Bhawana Lohiya)

Company Secretary