Notes to Accounts of Systematix Corporate Services Ltd.

Mar 31, 2023

Employee Benefit Obligation Defined contribution plans

During the year the Company has not made any defined contribution plans and is not required to do so by any applicable laws.

Gratuity

The company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. Every employee is entitled to a benefit equivalent to fifteen days salary last drawn for each completed year of service in line with the Payment of Gratuity Act, 1972 or Company scheme whichever is beneficial. The same is payable at the time of separation from the Company or retirement, whichever is earlier. The benefits vest after five years of continuous service. The Company''s gratuity liability is funded.

d) Objectives, policies and processes for managing capital.

The primary objective of the Company''s Capital Management is to maximise shareholders value. The Company manages its capital to ensure that it will be able to continue as going concerns while maximizing the return to stakeholders through the optimisation of the debt and equity balance. The Company''s policy is to maintain a strong capital base so as to maintain investors, creditors and market confidence to sustain future development of the business. For the purpose of the Company''s capital management, capital includes issued capital and other equity reserves.

34 Segment revenue Description

The company''s chief operating decision maker is the Managing Director (MD) who examines the company''s performance both from a services and geographic perspective and has identified single reportable segment of its business. The company is engaged in Merchant Banking services which falls within a single business segment. The segment revenue is measured in the same way as in the statement of profit or loss.

The Company has a single operating segment that is “Merchant Banking”. Accordingly, the segment revenue, segment results, segment assets and segment liabilities is reflected in the financial statements as of and for the financial year ended 31 March 2023

Information about primary business segment:

The Company''s business segment is “Merchant Banking” and it has no other primary reportable segments. Accordingly, the segment revenue, segment results, total carrying amount of segment assets and segment liability, total cost incurred to acquire segment assets and total amount of charge for depreciation during the period, is as reflected in the Financial Statements as of and for the financial year ended 31 March 2023

Information about geographical areas:

The Company caters to the needs of the domestic market and hence there are no reportable geographical segments for the financial year ended 31 March 2023

(ii) Fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level is given below:

The fair value of financial instruments are classified into three categories i.e. Level 1, 2 or 3 depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active market for identical assets or liabilities (level 1 measurements) and lowest priority to unobservable inputs (level 3 measurements).

There were no transfers between any levels during the year

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, preference shares and debentures which are included in level 3.

During the year there were no transfers between level 1 and level 2. Similarly there were no transfer from or transfer to level 3.

38 Financial risk management

The Company''s business activities expose it to a variety of financial risks, namely credit risk and liquidity risk.

(i) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers and investment securities. Credit risk arises from cash held with banks and financial institutions, as well as credit exposure to clients, including outstanding accounts receivable. The maximum exposure to credit risk is equal to the carrying value of the financial assets. The objective of managing counterparty credit risk is to prevent losses in financial assets.

The Company has exposure to credit risk from a limited customer group on account of specialised nature of business, i.e., port services provided by the Company. The Company ensures concentration of credit does not significantly impair the financial assets. The Company, based on the credit information available with its, has provided expected credit loss. Rest of the exposure is to the Customers which are well established and from reputed industries.

(ii) Management of liquidity risk:

Liquidity risk is the risk that the Company will fail in meeting its obligations associated with its financial liabilities. The Company''s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A material and sustained shortfall in our cash flow could undermine the Company''s credit rating and impair investor confidence.

39 Capital management

Risk management

Equity share capital, other equity and secured borrowings from the banks are considered for the purpose of Company''s capital management. The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to its shareholders. 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. The Company considers the amount of capital in proportion to risk and manages the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may borrow from external parties such as banks or financial institutions. The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain shareholder, creditor and stakeholder confidence 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.

40 Disclosure related to funds borrowed from banks and financial institutions

The Company has no borrowings from banks or financial institutions on the basis of security of current assets

41 Wilful Defaulter

The company is not declared wilful defaulter by any bank or financial Institution or other lender as on 31st March,2023

42 Relationship with Struck off Companies

The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 as on 31st March,2023.

43 Registration of charges or satisfaction

There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period i.e. 31st March, 2023

44 Compliance with number of layers of companies

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

46 Corporate Social Responsibility (CSR)

The company is covered under section 135 of the companies act, 2013 so 6.41 as on 31st March,2023.

47 Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year as on 31st March, 2023.

49 Utilisation of Borrowed funds and share premium

The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding regarding utilisation of borrowed funds and share premium

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Mar 31, 2018

(1) Redeemable at the end of the 20th year at par out of the profits available for distribution as dividends or out of proceeds of a fresh issue of shares made for the Purpose of redemption.

2) 2 70 00 000 Preference Shares of face value of Rs 10/- each were allotted on 30.03.2015 for consideration other than cash being conversion of unsecured loan from M/S Superstar Exports Private Limited

3) Related Party Transactions :

I) Names of Transacting Related Parties

A) Wholly Owned Subsidiaries

- Systematix Fincorp India Limited

- Systematix Finvest Private Limited

- Systematix Shares and Stocks (India) Limited

- Systematix Commodities Services Private Limited

- Systematix Ventures Private Limited

B) Presumption of Significance Influence (I) Companies

- Systematix Capital Services Private Limited -Ceepeek Real Estate Private Limited -Rangsharda Properties Private Limited -Shubham Mangalam Real Estate Pvt Limited -Snehavardhini Properties Pvt Limited

-Tek Point Properties Private Limited

-Funsign Real Estate Pvt Limited -Superstar Exports Private Limited.

-Topcity Trading Company Private Limited -Riteplaza Trading Company Private Limited -Magicline Trading Company Private Limited -Goldflag Exports Private Limited -Goldlife Trading Company Private Limited -Thirdwave Mercantile Company Private Limited -Shiv Shakti Real Estate Pvt Limited -Nikunj Mercantile Private Limited -Systematix Assets Management Company Pvt Ltd -Wonder dream Realtors Private Limited

- Systematix Distributions Services Pvt Limited -Perspire Builders & Developers Private Limited

Partnership Firms/LLP’s

Sterling Dreamworks Partners LLP Divisha Real Estate Advisors LLP Divisha Realty LLP Divisha Developers LLP Mahesh solanki & Co

Key Managerial Personnel

Mr. C.P. Khandelwal, Mr. Shree Prakash Mundra (Resigned w.e.f 12.02.2018), Vrunda Dhanesha

II) A description of the relationship between related parties: Presumption of Significant Influence.

III) Transaction detail

4) Employee Benefits:

The Company has adopted AS 15-Employee Benefits during the current year, corresponding previous year information does not arise

5. Figures for the previous year have been re-grouped wherever necessary, to conform to Current year classification.

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Mar 31, 2014

NOTE : 1

CONTINGENET LIABILITIES

Contingent Liabilities on account of 1075000000 1085000000 Guarantees given to

banks on behalf of Group Companies

Total 1075000000 1085000000

NOTE : 2 Figures for the previous year have been re-grouped wherever necessary, to conform to Current year classification.

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Mar 31, 2013

1). Related Party Transactions:

I) Names of Transacting Related Parties

A) Wholly Owned Subsidiaries

- gystematix Fincorp India Limited

- Systematic Fin vest Private Limited

B) Subsidiary Company

- Systematic Shares & Stocks (I) Limited

C) Step Subsidiary

- Systematise Commodities Services Private Limited

- Systematix Distributions Services Pvt Limited

D) Associate and Group Companies

- Systematix Capital Services Private Limited

- Ceepenk Real E&Ute Limited

- Rangsharda Properties Private Limited

- Shubham Mangalam Real Estate Pvt Limited

- Snehavardhini Properties Pvt Limited

- Tek Point Properties Private Limited

- Fuiisign Real Estate Pvt Limited

- Superstar Exports Private Limited.

- Topcity Trading Company Private Limited

- Riteplaza Trading Company Private Limited

- Magicline Trading Company Private Limited

- Goldflag Exports Private Limited

- Goldlife Trading C om pany Private Lira

- Thirdwave Mercantile Company Private Limite

- SQL Star International Limited

- Shiv Shakti Real Estate Pvt Limited

- Management Company Pvt. Limited

- Nikunj Mercantile Private Limited

- Siena Infotainment Pvt limited

- Southern Wind farm Limited

- Unicorn infra projects and Estates Pvt limited

- DDPL Giobal Infrastructure Pvt Limited

- Skittish Realtors Pvt Umiled

- Perspire Buiiders & Developers Pvt limited

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Mar 31, 2012

1) Contingent Liabilities:

Contingent Liabilities on account of Guarantees given to banks o behalf Group Companies 885000000 875000000 37950

2) Related Party Transactions:

I) Names of Transacting Related Parties

A) Wholly Owned Subsidiaries

- Systematix Fincorp India Limited

- Systematix Finvest Private Limited

B) Subsidiary Company

- Systematix Shares & Stocks (I) I imitate

- Systematix Commodities Services Private Limited

C) Associate and Group Companies

- Systematix Capital Services Private Limited

- CEEPEEK Real Estate Limited

- Rangsharda Properties Private Limited

- Shubhamangalam Real Estate Limited

- Snehavardhini Real Estate Limited

- Tek Point Properties Private Limited

- Funsign Real Estate Limited

- Superstar Exports Private Limited.

- Topcity Trading Company Private Limited

- Riteplaza Trading Company Private Limited

- Magicline Trading Company Private Limited

- Goldflag Exports Private Limited

- Goldline Trading Company Private Limited

- Third wave Merchantville Company Private Limited

- SQL Star International Limited

- Shivsakthi Real-estate Limited

- Southern Wind Farm Limited

- Nikunj Mercantile Private Limited

Entities where Control Exists

- Mahesh C Solanki & Co

Key Manageriul Personnel Mr.C.P.Khandelwal

Mr.Kamesh Kaizada

3. The Financial Statements for the year ended March 31, 2011 were prepared as per the then applicable, pre revised schedule VI to the Companies Act, 1956. The Financial statements for the year ended March 31, 2012 have been prepared as per Schedule VI. Accordingly the previous year figures have been reclassified to confirm to current years classifications.

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Mar 31, 2011

1) SHARE CAPITAL AND OPTIONAL CONVERTIBLE DEBENTURE

i) During the year the company has allotted 4 43 758 nos of equity shares of the face value of Rs 10/-eacli at Rs 250/- pei sliaie and 3 03 667 nos of Optionally Fully convertible Debenture (OFCD''S) face value of Rs 250/- (Rs: Two hundred and Fifty only) to the shareholders of Systematix Shares & Stocks (1) Limited (SSSIL) as a Consideration against acquisition of 29 89 700 nos shares of SSSIL.

ii) OFCD,s are allotted on 24/03/2011 and carry a conpon rate of 6%.

iii) OFCD, s will be convertible in to one equity share of the company at the option of the OFCD, s holder within period of 18 Months from the date of allotment of the OFCD,5 failing which ihe OFCD,s will be eligible for redemption at the par value of Rs 250/- per OFCD.s at the end of the said 18 Months.

Rs in lakhs

31.3.2011 31.03.3010

2) Contingent Liabilities:

Contingent Liabilities on account of Guarantees given to banks o behalf Group Companies 8750 6800

Amount in Rs.

31.3.2011 31.03.2010

3) Auditors Remuneration:

Statutory Audit 40000 37950

4) The management has initiated the proccss of identifying enterprises which have provided goods and services to the company under the definition of micro and small enterprises, as defined under Macro, Small and Medium enterprises Development Act,2006. Accordingly the disclosure in respect of amounts payable to such enterprises as at March 31,2011 has been made in the financial statements based on the information rcccivcd and available with the company. The Company has nol received any claim for interest from any supplier under the said Act

The Company is making efforts to get the confirmation from the suppliers as regards their status under the Act.

5) Loans and advances include

i) Amount due form Private Companies in which one or more directors of the Company are interested.

Excess remuneration paid during the year Reversed and Since Recovered from director.

6) (a) Managerial remuneration under section 198 of the Companies Act, 1956

Remuneration to Managerial personal, paid in accordance with Schedule XIII to Companies Act, 1956

7) Related Party Transactions:

I) Names of Transacting Related Parties

A) Wholly Owned Subsidiaries

- Systematix Fincorp India Limited

- Systematix Finvest Private Limited

B) Subsidiary Company

- Systematix Shares & Stocks (I) I imitetl

- Systematix Commodities Services Private Limited

C) Associate and Group Companies

- Systematix Capital Services Private Limited

- CEEPEEK. Real Estate Limited

- Rangsharda Properties Private Limited

- Shubhamangalam Real Estate Limited

- Snehavardhini Real Estate Limited

- Tek Point Properties Private Limited

- Funsign Real Estate Limited

- Superstar Exports Private Limited.

- Topcity Trading Company Private Limited

- Riteplaza Trading Company Private Limited

- Magicline Trading Company Private Limited

- Goldflag Exports Private Limited

- Goldline Trading Company Private Limited

- Third wave Merehantile Company Private Limited

- SQL Star International Limited

- Shivsakthi Realestate Limited

- Southern Wind Farm Limited

- Nikunj Mercantile Private Limited

Entities where Control Exists

- Mahesh C Solanki & Co

Key Manageriul Personnel Mr.C.P.Khandelwal

Mr.Kamesh Kaizada

8) The Company has nol obtained Confirmation of balance from Sundry Debtors, Loans and advances, Sundry creditors.

9) Previous year figures have been regrouped wherever necessary.

10) Paise have been rounded off to the nearest rupee.

11) Other items required to be disclosed to per Para 4A,4C & 4D of Part II of Schedule VI of the Companies Act, 1956 Nil.

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Mar 31, 2010

Rs in lakhs

31.03.2010 31.03.2009

1) Contingent Liabilities:

Contingent Liabilities on account of Guarantee given to banks group Companies 6800 9480

2) The management has initiated the process of identifying enterprises which have provided goods and services to the company under the definition of micro and small enterprises, as defined under Macro,Small and Medium enterprises Development Act,2006.Accordingly the disclosure in respect of amounts payable to such enterprises as at march 31,2010 has been made in the financial statements based on the information received and available with the company. The Company has not received any claim for interest from any supplier under the said Act.

3) Related Party Transactions:

I) Names of Transacting Related Parties

A) Wholly Owned Subsidiaries

-Systematix Fincorp India Limited

B) Associate and Group Companies

- Systematix Shares & stocks (I) Limited

- Systematix Capital Services Private Limited -Systematix Commodities Services Private Limited -CEEPEEK Real Estate Limited -Rangsharda properties Private Limited -Shubhamangalam real Estate Limited -Snehavardhini Real Estate Limited

-Tek Point Properties Private Limited -Funsign Real estate Limited

- Superstar exports Private Limited. -Topcity trading Company private Limited -Riteplaza trading Company Private Limited -Magicline Trading Company private Limited -Goldflag export:, Private Limited -Goldline Trading Company Private Limited -Thirdwave merchantile Company Private Limited -SQL Star International Limited

-Shivsakthi Realestate Limited -Southern wind farm Limited -Nikunj Mercantile Private Limited Entities where Control Exists

- Mahesh C Solanki & Co Key Managerial Personnel

Mr.C.P.Khandelwal Mr.Ramesh

II) A description of the relationship between related parties: Presumption of Significant Influence.

4) The Company has not obtained confirmation of balance from Sundry Debtors, Loans and advances, sundry creditors.

5) Previous year figures have been regrouped wherever necessary,

6) Paise have been rounded off to the nearest rupee.

7) Other items required to be disclosed as per Para 4A, 4C & 4D of Part II of Schedule VI of the Companies Act, 1956 Nil.