Notes to Accounts of Baid Finserv Ltd.

Mar 31, 2025

8.8) Provisions and Contingent Liabilities

The Company creates a provision when there is present obligation as a result of a past event that
probably requires an outflow of resources and are liable estimate can be made of the amount of
the obligation.

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. The Company also
discloses present obligations for which a reliable estimate cannot be made. When there is a
possible obligation or a present obligation in respect of which the likelihood of outflow of
resources is remote, no provision or disclosure is made.

8.9) Foreign Currency Transaction

No Foreign currency transaction during the relevant financial year.

8.10) Segment Reporting

The Company operates in a single reporting segment i.e. financing. Since, it does not meet the
quantitative thresholds laid down under the Ind AS 108 - Operating Segments for reportable
segments, it has not been considered for segment reporting.

8.11) Title deeds of Immovable Properties not held in name of the Company

The Company does not possess any immovable property (other than properties where the
Company is the lessee and the lease agreements are duly executed in favor of the lessee)
whose title deeds are not held in the name of the Company during the financial year ended
March 31, 2025 and March 31, 2024.

8.12) Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual currency during the
financial years ended March 31, 2025 and March 31, 2024.

8.13) Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made
thereunder in the financial years ended March 31, 2025 and March 31, 2024.

8.14) Willful Defaulter

The Company has not been declared as a willful defaulter by any bank or financial institution or
other lender in the financial years ended March 31, 2025 and March 31, 2024.

8.15) Relationship with Struck off Companies

The Company does not have any transactions with the companies struck off under section 248
of Companies Act, 2013 or section 560 of Companies Act, 1956.

8.16) Registration of Charges or Satisfaction with Registrar of Companies (ROC)

All charges or satisfaction are registered with ROC within the statutory period for the financial
years ended March 31, 2025 and March 31, 2024. No charges or satisfactions are yet to be
registered with ROC beyond the statutory period.

8.17) 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 for the financial
years ended March 31, 2025 and March 31, 2024.

8.18) Compliance with approved Scheme(s) of Arrangements

No scheme of Arrangements has been approved by the Competent Authority in terms of
sections 230 to 237 of the Companies Act, 2013.

8.19) Utilization of Borrowed funds and share premium

The Company, as part of its normal business, grants loans and advances, makes investments,
provides guarantees to and accepts deposits and borrowings from its customers, other entities
and persons. These transactions are 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).

The Company has also 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 like on behalf of the Ultimate Beneficiaries.

8.20) Investment Property

The company does not hold any investment property.

8.21) Undisclosed income

There are no transactions not recorded in the books of accounts.

Note: Excess amount spent for the Year ended March 31, 2025 was Rs. 4.43 lakhs.

Excess amount spent for the Year ended March 31, 2024 was Rs. 2.39 lakhs.

There is no shortfall in the CSR amount required to be spent by the Company as per section 135(5) of
the Act for the financial years ended March 31, 2025 and March 31, 2024.

CSR activities include Education, Preventive Healthcare, restoration of buildings and sites of
historical importance , environmental sustainability, ecological balance, protection of flora and
fauna, animal welfare, Training and Skill Development, eradicating hunger, poverty and malnutrition,
promoting health care including preventive health care, promoting gender equality, empowering
women Making available safe drinking water and Higher Education and other activities which are
specified under Schedule VII of Companies Act, 2013.

The Company has neither made any CSR Contributions towards its related parties nor recorded any
provision for CSR expenditure during the financial years ended March 31, 2025 and March 31, 2024.

b) The company has not acquired any stressed assets through assignment during year ended on
March 31, 2025 and March 31, 2024.

c) The company has not transferred and acquired any loans (not in default) through assignment
during year ended on March 31, 2025 and March 31, 2024.

11) The Reserve Bank of India has issued Scale Based Regulations (SBR): A Revised Regulatory
Framework for NBFCs ("the framework") vide circular No. RBI/2021-22/112DOR.CRE.REC.
No.60/03.10.001/2021-22 on October 22, 2021. The Framework categories NBFCs in Base Layer
(NBFC- BL), Middle Layer (NBFC- ML), Upper Layer (NBFC- UL) and Top Layer (NBFC- TL).

The company is classified under "Base Layer" pursuant to the framework.

12) The Company does not fall under the ambit of Large Corporate (LC) category as per the criteria
given under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

vii) Institutional set-up for liquidity Risk Management: - The Company has an Assets
Liability Management Committee (ALCO), a Board level sub-Committee to oversee
liquidity risk management. ALCO consists of 3 (Three) members out of which 2
members as Executive Director and 1 (one) member as Non-Executive Director. The

ALCO Meetings are held once in 3 months. The Company has a Risk Management
Committee (RMC) a sub-committee of the Board, which oversee overall risks to which
the company''s exposed including risk management. The ALCO and RMC also updates
the Board at regular intervals.

Subject to our Audit report of even date

For Khilnani & Associates For and on behalf of the Board

Sd/- Sd/- Sd/-

K.K. Khilnani Panna Lal Baid Aman Baid

Partner Chairman & Managing Whole Time Director

Director DIN: 03100575

M. No. 072736 DIN:00009897

FRN. 005776C

UDIN: 25072736BMLFVT1084

Sd/- Sd/-

Aditya Baid Surbhi Rawat

Chief Financial Officer Company Secretary

Date: May 16, 2025 (M. No. A49694)

Place: Jaipur

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Mar 31, 2024

# During the Financial Year 2022-23, equity share of the Company have been sub-divided from existing face value of Rs. 10 per equity share to Rs 2 Per share on 16.04.2022 as approved by the shareholders at shareholders'' meeting held on 25th March 2022.

## During the Financial Year 2022-23, the company has issued bonus shares to its existing shareholders at 1:1 ratio on 22 June 2022. Bonus shares are issued by the company out of security premium available with it.

b) Terms/rights attached to equity shares

The company has only one class of equity shares having face value of Rs. 2/- per share. Each equity shareholder is entitled for one vote per share.

c) Shares held by the holding/ultimate holding company and/or their subsidaries/associates: -Nil

d) Details of Shareholders holding more than 5% shares in the company

(i) Reserve fund in terms of Section 45-IC(1) of the Reserve Bank of India Act, 1934

Reserve fund is created as per the terms of Section 45-IC (1) of the Reserve Bank of India Act, 1934 as a statutory reserve .

(ii) Securities Premium

Securities Premium is used to record the premium on issue of shares. It can be utilised only for limited purposes in accordance with the provisions of the Companies Act, 2013.

(iii) Amalgamation Reserves

Amalgamation Reserve is a reserve which is created at the time of amalgamation by the Transferee Company. It comprises of difference between book value of assets and liabilities in the books of transferor company and the purchase/take over price of those assets and liabilities by the transferee company.

(iv) General Reserves

General Reserve is the amount kept from the profit earned by the company during its normal course of operations to meet the future needs i.e. , like contingencies, strengthening the company''s financial position, increasing working capital, paying dividends to shareholders, offsetting future losses,etc.

(v) Other comprehensive income

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated in the FVOCI equity investments reserve. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are de recognised.

(vi) Retained Earnings

Retained earnings represents the surplus in profit and loss account and appropriations. The Company recognises change on account of remeasurement of the net defined benefit liability/(asset) as part of retained earnings with separate disclosure, which comprises of:

A) actuarial gains and losses;

B) return on plan assets, excluding amounts included in net interest on the net defined benefit liability/(asset); and

C) any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability/(asset).

c) The company has not transferred and acquired any loans (not in default) through assignment during year ended on March 31, 2024 and March 31, 2023.

11) The Reserve Bank of India has issued Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs ("the framework") vide circular No. RBI/2021-22/112DOR.CRE.REC. No.60/03.10.001/2021-22 on October 22, 2021. The Framework categories NBFCs in Base Layer (NBFC- BL), Middle Layer (NBFC- ML), Upper Layer (NBFC- UL) and Top Layer (NBFC- TL). The company is classified under "Base Layer" pursuant to the framework.

12) The Company does not fall under the ambit of Large Corporate (LC) category as per the criteria given under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

(vi) Institutional set-up for liquidity Risk Management: - The Company has an Assets Liability Management Committee (ALCO), a Board level sub-Committee to oversee liquidity risk management. ALCO consists of 3 (Three) members out of which 2 members as Executive Director and 1 (one) member as Non-Executive Director. The ALCO Meetings are held once in 3 months. The Company has a Risk Management Committee (RMC) a sub-committee of the Board, which oversee overall risks to which the company s exposed including risk management. The ALCO and RMC also updates the Board at regular intervals.

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Mar 31, 2018

A) NOTES ON ACCOUNTS

1. In the opinion ofthe Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at I east to the amount atwhichthey are stated.

2. Balance standing to the debit or credit of Sundry Debtors, Sundry¹ Creditors, Unsecured LoansandLoans & Advances are subject to their confirmation.

3. Details of Auditors remuneration:

4. Previous year figures have been re-grouped and re-arranged wherever considered necessary.

5. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

6. Segment Reporting in compliance to AS 17 of ICAI

The Company’s main business is financing by way of hire purchase of used vehicles and providing loans for vehicle and loans for business against security of immovable property. All other activities of the Company revolve around its main business. As such, there are no separate reportable segments, as per the Accounting Standard on ‘Segment Reporting¹ (AS 17), specified under Section 133 of CompaniesAct,2013.

7. Related Party Disclosure in compliance to AS18 of I.C.A.I

Transactions are executed in normal course of businessat arm’s length price.

8. The disclosures in the financial statements regarding holdings as well as dealings in specified bank notes during the period from 8th November 2016 to 30th December 2016 have not been made since they do not pertain to the financial year ended 31 March 2018.

9. During the year, the Company has incurred an expenditure of Rs. 1 Crores towards Corporate Social Responsibility activities which includes contribution / donations made to the trusts which are engaged in activities prescribed underSection 135 ofthe Companies Act, 2013 read with Schedule VII to the saidAct.

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Mar 31, 2016

NOTES ON ACCOUNTS

1. There is a contingent liability upon the company due to Income-tax department''s appeal before Rajasthan High Court seeking disallowance of company''s claim for deduction u/s 80 HHC totaling Rs, 117.83 lac in respect of A.Y. 95-96 and 96-97.

2. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at least to the amount at which they are stated.

3. Balance standing to the debit or credit of Sundry Debtors. Sundry Creditors, Unsecured Loans and Loans & Advances are subject to their confirmation.

4. Details of Auditors remuneration:

Current Year Previous Year

a. Statutory Audit Fees 31,000/- 21,000/-

b. income-tax and allied works 29,000/- 19,000/

5. Previous year figures have been re-grouped and re-arranged wherever considered necessary.

6. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

7. Managerial remuneration paid/payable by the Company to its managerial persons is within permissible limits under Section 197 of the Companies Act, 2013.

The Company''s main business is financing by way of hire purchase of used vehicles anc providing loans. All other activities of the Company revolve around its main business. A: such, there are no separate reportable segments, as per the Accounting Standard or Segment Reporting'' {AS 17), specified under Section 133 of Companies Act, 2013.

9. Related Party Disclosure in compliance to AS18 of I.C.A.I.

KEY MANAGEMENT PERSONNELS: (1| Pannalal Baid (Chairman and MD)

(10) Aman Baid (Director)

(11) Manoj Kumar Jain (CFO)

(12) Namrata Sajnani (C.S)

RELATIVES OF KEY MANAGEMENT PERSONNEL (1) Sobhag Devi Baid

(13) Mahendra Kumar Baid (Son of C & MD)

(14) Alpana Baid (Daughter in-law)

(15) Adityo Baid

ASSOCIATES

(16) BFL Developers Limited

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Mar 31, 2015

1. There is a contingent liability upon the company due to Income tax department''s appeal before Rajasthan High Court seeking disallowance of company''s claim for deduction u/s 80 HHC totaling Rs. 117.83 lac in respect of a. yr. 9596 and 9697.

2. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at least to the amount at which they are stated.

3. Balance standing to the debit or credit of Sundry debtors, Sundry creditors, Unsecured loans and Loans & advances are subject to their confirmation.

4. Details of Auditors remuneration: Current Year Previous Year

a. Statutory Audit Fees 21,000 21,000

b. Income tax and allied works 19,000 19,000

5. Previous year figures have been regrouped and rearranged wherever considered necessary.

6. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

7. Related Party Disclosure in compliance to AS18 of I.C.A.I.

KEY MANAGEMENT PERSONNELS: (1) Panna Lai Baid (Chairman and MD)

(2) Rakesh Kumar Baid [Director(retired)]

(3) Aman Baid (Director)

(4) Manoj Kumar Jain (CFO)

(5) Namrata Sajnani (CS) /

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Mar 31, 2014

1. Company has provided a corporate guarantee to ICICI Bank Ltd. against Rs. 4.75 Crore financed by said bank to Baid Finance, the proprietorship concern of Mahendra Kumar Baid(HUF).

2. Current maturities of long term debts include Rs. 12.46 lac. repayable to ICICI Bank by way of installments against two car loans maturing within 12 months from the date of the balance sheet.

3. There is a contingent liability upon the company due to Income-tax department''s appeal before Rajasthan High Court seeking disallowance of company''s claim for deduction u/s 80 HHC totaling Rs. 117.83 lacin respect of a. yr. 95-96 and 96-97.

4. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at least to the amount at which they are stated.

5. Balance standing to the debit or credit of Sundry debtors, Sundry creditors, Unsecured loans and Loans & advances are subject to their confirmation.

6. Details of Auditors remuneration: Current Year Previous Year

a. Statutory Audit Fees 21,000 21,000

b. Income-tax and allied works 19,000 19,000

7. Previous year figures have been re-grouped and re-arranged wherever considered necessary.

8. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

9. Segment Reporting In Compliance To As 17

10. Related Party Disclosure In Compliance To AS18 Of I.C.A.I.

Key Management Personnels: (1) Panna Lal Baid (Managing Director)

(2) Rakesh Kumar Baid (Director)

Relatives of Key (1) Sobhag Devi Baid

Management Personnel (2) Mahendra Kumar Baid

(3) Meena Baid

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Mar 31, 2013

1. Company has provided a corporate guarantee to ICICI Bank Ltd. against Rs. 4.75 Crore financed by said bank to Baid Finance, the proprietorship concern of a related party, Mahendra Kumar Baid (HUF).

2. Other Advances include Rs. 92.0 lac. (previous year 157.0 lac) advanced to Pragati Land Developers Pvt. Ltd. against land at Kishan Garh. Said advance is refundable as said deal has been cancelled.

3. There is a contingent liability upon the company due to Income-tax department''s appeal before Rajasthan High Court seeking disallowance of company''s claim for depreciation allowance amounting to Rs. 167.77 lac on leased assets in respect of a. yr. 97-98 and deduction u/s 80 HHC totaling Rs. 117.83 lac in respect of a. yr. 95-96 and 96-97.

4. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at least to the amount at which they are stated.

5. Balance standing to the debit or credit of Sundry debtors, Sundry creditors, Unsecured loans and Loans & advances are subject to their confirmation.

6. Previous yearfigures have been re-grouped and re-arranged wherever considered necessary.

7. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

8. RELATED PARTY DISCLOSURE IN COMPLIANCE TO AS 18 OF ICAI

Key Management Personnels:

1. Panna Lai Baid (Managing Director)

2. Rakesh Kumar Baid (Director)

Relatives of Key Management Personnels:

1. Sobhag Devi Baid

2. Mahendra Kumar Baid

3. Meena Baid

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Mar 31, 2012

1. Term Loan from ICICI Bank is repayable in 36 monthly installments of Rs. 1,03,680/- each. It is secured against company's Car. There is no default in its repayment.

2. The CC limit of Rs. 5.0 Crore provided by the UC Bank, Mid Corporate Branch, Ban park, Jaipur, is against the charge over all stocks of vehicles financed by the company, book debts and other current assets and the corporate guarantee provided by Care well Builders Pvt. Ltd. along with equitable mortgage over said company's house property as Jaipur.

3. Company has provided a corporate guarantee to Bank of Baroda against term loan and CC facility of Rs 1 Cr. and Rs 5 Cr. respectively, provided by said bank to Baid Motors Pvt. Ltd.

4. Other advances includes Rs. 157.0 lac. advanced to Pragmatic Land Developers Pvt. Ltd. for land at Kishangarh against which Rs. 125.0 lac have been received as advance from 6 parties. Such advances received have been reflected among other current liabilities.

5. There is a contingent liability upon the company due to Income-tax department's appeal before Rajasthan High Court seeking disallowance of company's claim for depreciation allowance amounting to Rs. 167.77 lac on leased assets in respect of a. yr. 97-98 and deduction u/s 80 HHC totaling Rs. 117.83 lac in respect of a. yr. 95-96 and 96-97.

6. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at least to the amount at which they are stated.

7. Balance standing to the debit or credit of Sundry debtors, Sundry creditors, Unsecured loans and Loans & advances are subject to their confirmation

8. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.

9. Trade Receivables includes Rs. 46.58 lac that is outstanding for more than 6 months period.

10. Schedules 1 to 13 form an integral part of the Balance Sheet and Profit & Loss Account.

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Mar 31, 2010

1 The Company is of the opinion that the computation of Net Profit under section 349 of the Companies Act, 1956 need not be made since no commission is payable to the Directors for the period ended on 31-03-2010.

2 All the moveable and immovable properties of the Company are charged to The Bank of Rajasthan Limited, Bani Park Branch, Jaipur by way of security against the working capital loans granted by it.

3 In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realisation in ordinary course of business at least to the amount at which they are stated.

4 There is a contingent liability upon the company due to Income-tax departments appeal before Rajasthan High Court seeking disallowance of companys claim for depreciation allowance amounting to Rs. 167.77 lac on leased assets in respect of a. yr 97-98 and deduction u/s 80 HHC totaling Rs. 117.83 lac in respect of a. yr. 95-96 and 96-97.

5. Balance standing to the debit or credit of Sundry debtors, Sundry creditors, Unsecured loans and Loans & advances are subject to their confirmation.

6. Previous year figures have been re-grouped and re-arranged wherever considered necessary.

7. RELATED PARTY DISCLOSURE IN COMPLIANCE TO AS18 OF I.C.A.I. RELATED PARTIES:

(A) KEY MANAGEMENT PERSONNELS: (1) Panna Lal Baid (Managing Director)

(2) Rakesh Kumar Baid (Whole-Time Director)

(B) ASSOCIATE CONCERNS (Relative of Key Management Personnel Director)

(1) Sobhag Devi Baid

(2) Mahendra Kumar Baid

(3) Meena Baid

8. Earning pershare in terms of AS 20 of I.C.A.I.:

Basic EPS calculated on the basis of net profit after tax, is Rs. 0.96. During the year there is no change in companys equity capital.

9. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I, unit and payment to whom is outstanding for a period exceeding 6 months.

10. Schedule 1 to 15 form an integral part of the Balance Sheet and Profit & Loss Account.