W Provisions, Contingent liabilities and Contingent assets

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event
exists and it is probable that an outflow of resources embodying economic benefits will be required to settle such
obligation and the amount of such obligation can be reliably estimated.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but
probably will not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be
measured reliably. When there is a possible obligation or a present obligation in respect of which likelihood of outflow of
resources embodying economic benefits is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements; however they are disclosed where the inflow of economic
benefits is probable. When the realization of income is virtually certain, then the related asset is no longer a contingent asset
and is recognised as an asset.

33(iii) Details of non performing financial assets purchased/sold

The Company has not purchased and sold any non performing financial asset during the current and previous year
33(iv) Details of Single Borrower Limit (SGL)/Group Borrower Limit (GBL) exceeded

The Company has not exceeded the prudential exposure limits during the current and previous year
NP Unsecured advances

Total loans and advances includes Rs. 12.57 Crorecrore which are unsecured advances where as in previous year Rs. 16.49 Crore
33(vi) Registration obtained from other financial sector regulators

The Company does not have registered in other financial sector regulators except Reserve Bank of India (RBI)

33(vii) Details of penalties imposed by RBI and other regulators

Rs. Nil penalties has been levied by the Reserve Bank of India or any other Regulators for the year ended 31 March 2024. (Previous Year NIL Lakhs)

Note 34 The disclosures as required by the Master Direction -Monitoring of frauds in NBFCs issued by RBI dated 29 September 2016

The company has fraude monitoring team who on quarterly basis review the overall procedure and policies there are no cases of Frauds during the year as well as no cases in the previous
year.

Note 35 The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the financial years ended March 31,2023 and March 31,2022

Note 36 Relationship with Struck off Companies

There are no transactions with companies whose names have been struck off under section 248 of Companies Act, 2013 or section S60 of Companies Act, 1956 in the financial years
ended March 31,2024 and March 31,2023.

Note 37 «

Registration of charges or satisfaction with Registrar of Companies (ROC)

Where any charges or satisfaction yet to be registered with ROC beyond the statutory period, details and reasons thereof shall be disclosed. The Company shall provide the details in
relation to each charge or satisfaction that are not registered by the statutory date. Such details may include a brief description of the charges or satisfaction, the location of the
Registrar, the period (indaysor months) by which such charge had to be registered and the reason for delay in registration.

Compliance with number of layers of companies

Where the company has not 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,
the name and CIN of thecompanies beyond the specified layers and the relationship /extent of holding of thecompany in such downstream companies shall bedisclosed.

Note 39

Utilisation of Borrowed fund and Share Premium

TheCompany, as part of its normal business, grants loans and advances, makes investment, provides guarantees to and accept deposits and borrowings from its customers, other
entities and persons. These transactionsare part of Company's normal non-banking finance business, which is conducted ensuring adherence to all regulatory requirements.

Other than the transactions described above, 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 persons or entities, including foreign entities ("Intermediaries*) with the understanding, whether recorded in writing or otherwise, that the
Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). TheCompany hasalso not received any fund from any parties (Funding Party)
with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Funding Party ("Ultimate
Beneficiaries") or provide any guarantee, security or the likeon behalf of the Ultimate Beneficiaries.

Note 40 Figures for the previous period have been regrouped and rearranged, wherever necessary, to make them comperable with the current Period.

For and on behalf of Board of Directors of
GSB Finance Limited

Kamakant Biyani
Managing Director
DIN Number : 00523178