Notes to Accounts of SG Finserve Ltd.

Mar 31, 2023

Provision and contingencies

The Company makes a provision when there is a present
obligation as a result of a past event, where the outflow of
economic resources is probable and a reliable estimate of
the amount of the obligation can be made.

A disclosure is made for a contingent liability when there is a:

- possible obligation, the existence of which will be
confirmed by the occurrence/non-occurrence of one or
more uncertain events, not fully within the control of
the Company;

- present obligation, where it is not probable that an outflow
of resources embodying economic benefits will be required
to settle the obligation; and

- present obligation, where a reliable estimate
cannot be made.

When there is a present obligation in respect of which the
likelihood of outflow of resources is remote, no provision or
disclosure is made.

m) Cash and cash equivalent

Cash and cash equivalents comprise cash at bank and in
hand and short-term bank deposits with an original maturity
of three months or less.

n) Earnings per share

Basic earnings per share are calculated by dividing the net
profit or loss for the year attributable to equity shareholders
by the weighted average number of equity shares
outstanding during the year.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects of
all potential dilutive equity shares.

o) Recent accounting prouncements

Standards issued but not yet effective:

In March 2023, the Ministry of Corporate Affairs
issued the Companies (Indian Accounting Standards)
Amendment Rules, 2023 which amended certain Ind AS as
explained below:

1) Ind AS 1 - Presentation of Financial Statements - the

amendment prescribes disclosure of material accounting
policies instead of significant accounting policies. The impact
of the amendment on the Financial Statements is expected
to be insignificant basis the preliminary evaluation.

2) Ind AS 8 - Accounting Policies, Changes in Accounting
Estimates and Errors - the amendment added definition of
accounting estimate and clarifies what is accounting estimate
and treatment of change in the accounting estimate and
accounting policy. There is no impact of the amendment on
the Financial Statements basis the preliminary evaluation.

3) Ind AS 12 - Income taxes - the definition of deferred tax
asset and deferred tax liability is amended to apply initial
recognition exception on assets and liabilities that does
not give rise to equal taxable and deductible temporary
differences. There is no impact of the amendment
on the Financial Statements basis the preliminary
evaluation.

The above amendments are effective from annual periods
beginning on or after 1^st April, 2023.

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Mar 31, 2015

Corporate information

The company is carrying on the business of trading in equity shares and mutual funds. The principal place of business of the company is the same as registered office of the company.

1. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

2. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

3. Auditor's Remuneration

4. Managerial Remuneration Rs.5,75,900 (Previous Year Rs. 5,20,000)

5. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2008 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

6. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1* April, 2014 to 31* March, 2015. (Previous year Rs. Nil).

7. Value of Imports Calculated on ClF Basis Rs. Nil (Previous Year Rs. Nil)

8. Related Party Transactions

1. Following are the related parties

a. Key Management Personnel (KMP)

- Mr. Sanjay Jain (Whole Time Director)

b. Enterprises Significantly Influenced, toy KMP & their Relatives

- Moongipa Capital Finance Limited

9. PUBIC DEPOSITS *

As informed to us company has 'riot accepted any deposits from public during the year ended on 31 st March, 201S & previous year ended on 31st March, 2014.

10. EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2015 & previous year ended on 31st March, 2014.

11. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amendment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31* March, 2015 & Previous year ended on 31" March, 2014 have been prepared/ redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.

12. Notes no. 1 to 35 form an integral part of the Financial Statements for the year ended on 31* March, 2015.

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Mar 31, 2014

1 Contingent Liabilities

(a) As per the management of the Company there are no contingent liabilities in the name of Company as at 31" March, 2014 which are pending and not provided for in the books of accounts

2 Claims against the Company not acknowledged as Debts - Rs Nil (Previous Year Rs. Nil).

3 Pending Capital Commitments remaining to be executed - Rs Nil (Previous Year Rs. Nil).

4 Auditor s Remuneration

S. No. Particulars For the Year For the Year 2013-2014 2012-2013

1 Audit Fees 25,000.00 25,000.00

Service Tax 3,090.00 3,090.00

Total 28,090.00 28,090.00

5 Managerial Remuneration Rs5.20.000 (Previous Year Rs. 4,45.000)

6 Based on the Information received from all the vendor regarding their statues under Micro. Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs Nil

7 The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2013 to 31st March, 2014. (Previous year Rs. Nil).

8 Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs Nil)

9 Related Party Transactions

1. Following are the related parties

a. Key Management Personnel (KMP) * Mr. Sanjay Jain (Whole Time Director)

b. Enterprises Significantly Influenced by KMP & their Relatives * Moongipa Capital Finance Limited

10 PUBIC DEPOSITS

As informed to us company has not accepted any deposits from public during the year ended on 31" March, 2014 & previous year ended on 31st March, 2013.

11 EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2014 & previous year ended on 31st March 2013

12 As per the Notification No. S O 447 (E) dated 28 02 2011 read with amendment Notification S.O.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31st March. 2014 & Previous year ended on 31" March 2013 have been prepared/redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956

13. Notes no. 1 to 15 form an integral part of the Financial Statements for the year ended on 31" March. 2014

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Mar 31, 2013

1. Contingent Liabilities

(a) As per the management of the Company there are no contingent liabilities in the name of company as at 31st March, 2013 which are pending and not provided for in the books of accounts..

2. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

3. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

4. Managerial Remuneration Rs. 4,45,000 (Previous Year Rs. 3,85,000)

5. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

6. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2012 to 31st March, 2013. (Previous year Rs. Nil).

7. Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs. Nil)

8. Related Party Transactions

Following are the related parties

(a) Key Management Personnel (KMP) * Mr. Sanjay Jain (Whole Time Director)

(b) Enterprises Significantly Influenced by KMP & their Relatives * Moongipa Capital Finance Limited

9. PUBIC DEPOSITS

As informed to us company has not accepted any deposits from public during the year ended on 31st March, 2013 & previous year ended on 31st March, 2012.

10. EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2013 & previous year ended on 31st March, 2012.

11. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amendment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31st March, 2013 & Previous year ended on 31st March, 2012 have been prepared/redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.

12. Notes no. 1 to 15 form an integral part of the Financial Statements for the year ended on 31st March, 2013.