Notes to Accounts of Benchmark Computer Solutions Ltd.

Mar 31, 2025

17 Provisions and Contingent Liabilities & Contingent Assets
(i) Provisions

A provision is recognised when the Company has a present obligation as a result of past event, it is probable that an outflow of resources
embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting
date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

(11) Contingent liabilities & Contingent Assets

A contingent liability is a possible obligation that anses from past events whose existence will be confirmed by the occurrence or non-occurrence
of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognised because it is not probable
that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a
liability that cannot be recognised because it cannot be measured reliably. The Company does not recognise a contingent liability but discloses its
existence in the financial statements.

Contingent assets are not recognised in the financial statements. If the inflow of economic benefits is probable, then it is disclosed in the financial
statements.

18 Cash Flow Statement

The Cash Flow Statement is prepared by die indirect method set out m Accounting Standard 3 on Cash Flow Statements and presents the cash
flows by operating, investing and financing activities of the Company. Cash and cash equivalents presented in die Cash Flow Statement consist of
cash on hand and demand deposits with banks.

As per our report of even date attached For and on behalf of the Board of Directors

Benchmark Computer Solutions Limited

For Vaiawat 8c Associates
Chartered Accountants
Firm Reg. No, 003623C

Priyansh Vaiawat Hemant Sanil Sangeeta Wakode

Partner Managing Director Whole-time Director

Membership No. 434660 DIN: 01245532 DIN: 10460812

Note 2.1: Terms & Conditions :

The company lias only one class of equity shares having a par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share.

In the event of liquidation of the company, die holder of equity shares will be entided to receive remaining assets of die Company, after distribudon of all
preferential amounts.

The distribudon will be in proportion to the number of equity shares held by the shareholders.

The. authorised share capital of die Company was increased fromRs. 5 lakhs (comprising 50,000 equity shares of Rs. 10 each) to Rs. 750 lakhs (comprising
75,00,000 equity shares of Rs. 10 each), pursuant to the resoludons passed at die Board Meeting held on 30di May, 2023 and the Extra-Ordinary General
Meeting held on 12th June, 2023.

As per the management''s representation, Ihe intangible assets under development have been fully completed and now meet the recognition criteria specified in Paragraph 19 of Accounting Standard (AS) 26- Intangible
Assets. Consequently, they have been reclassified from ‘Intangible Assets under Development⁵ to Intangible Assets⁵ during the year.

Note 11.3 ~

During the year, the company reclassified a material as set from PPE to Inventory in acccidance with the applicable provisions of AS* 10. The asset, which was initially held for use in the supply of goods or services, is
now intended to be sold in the ordinary course of business. Consequently, it has been reclassified as inventory and transferred at its carrying amount on the date of reclassification. This carrying amount is considered its
cost in inventory, in accordance with AS 10. The asset in question is a server, originally purchased on December 30,2023, at a cost of Rs. 28,"00,000. As per tie valuation conducted by a registered valuer on 1 st
October,2024, its fair market value on tie date of reclassification was Rs. 20,743,710.

A) Leases as lessee

The Company has taken premises on Operating cancellable Lease and License Agreements from
Ramesli Hingorani. Period of lease being 12 months commencing from 01/04/2024 to 31/03/2025.
Lease payments under an operating lease should be recognised as an expense on a straight line basis
over the lease term. Lease payment of Rs. 14.40 Lakhs (P.Y. Rs. 12.90 Lakhs) has been recognised as an
expense in the Statement of Profit and Loss.___

B) Leases as lessor

The Company has given server on operating cancellable Lease and License Agreements to M/s
Vardhan SK Healthcare Private Limited. Period of lease being 12 months commencing from
28/02/2024 to 28/02/2025 . Income from Operating Leases is recognised as revenue on a straight-Line
basis over the Lease term. Lease Income of Rs. Nil Lakhs (P.Y. Rs. 107.50 Lakhs) has been recognised in
revenue from operation in the statement of profit and loss.___

Note : During FY 2023—24, the company acquired two servers for ?574 lakhs (5287 lakhs each), plus GST. Both
of the servers were capitalized and installed at Yotta Infrastructure. A lease agreement was entered into on 5th
February 2024 with M/s. Vardhan SK Healthcare Pvt. Ltd. for a 12-month term starting 13th February 2024.
However, the lessee defaulted on rental payments for February and March 2024 and also failed to pay Yotta Data
Services Pvt. Ltd. for related data center services.

Due to these defaults, the company bore the unpaid costs and added diem to die outstanding receivables from
M/s. Vardhan SK Healdicare Pvt. Ltd. The server was repossessed on 30th September 2024 and relocated to the
company’s premises, after clearing dues to die data center. Given die non-receipt of lease payments, the
company did not recognize die rental income in line with AS-9 (Revenue Recognition).

Note 36

Certain Trade receivables, Advances and Trade payables as at March 31, 2025 are subject to confirmation of balances and reconciliation with the
respective parties, the impact of which is not ascertained. The financial statements do not include the impact of adjustments, if any, which may arise
out of the confirmation and reconciliation process. Management is of the opinion that there will be no significant impact on the financial statements.

Note 37__

hr the opinion of the Board the Current Assets, Loans & Advances are realisable in the ordinary course of business atleast equal to the amount at which
they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

Note 38 : Other Statutory Information

i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami
property.

ii) The company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period

iii) The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

iv) During the audited period, the Company has not revalued its Property, Plant and Equipments.

v) Hie Company have not traded or invested in Crypto currency or Virtual Currency during the audited period.

Vi) The Company have not advanced or loaned or invested funds to any other peison(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

(a) directly or indirectly lend 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.

vii) The Company have not received any fund from any person(s) or entity (ies), including foreign entities (Funding Party) with the understanding
(whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend 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,

viii) The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income
during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of tire Income Tax
Act, 1961.

ix) Based on the information available with the Company, the Company do not have any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956.

Note 39

Hie Balance sheet, Statement of profit and loss, Statement of significant accounting policies and die odier explanatory Notes form an integral part of
die financial statements of die Company for period ended 31st March, 2025 & 31st March 2024.

Note 40

Previous year figures have been reclassified/ regrouped/ rearranged wherever necessary toconform to dris year''s classification.

In terms of our report of even date_

For Valawat & Associates For and on behalf of the Board of Directors

Chartered Accountants of Benchmark Computer Solutions Limited

Firm Reg. No. 003623C

Priyansh Valawat Heniant Sanil Sangeeta Wakode

Partner Managing Director Whole-time Director

Membership No. 434660__DIN: 01245532 DIN: 10460812

Ritika Paneri Rasika Katkar

(Company Secretary) ( CFO )

Place : Mumbai Place : Mumbai

Date : May 23, 2025 Date : May 23, 2025

UDIN: 25434660BM GXTL1816__| _

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Mar 31, 2024

Note 2.1 : Terms & Conditions :

The company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share In the event of liquidation of the company, the holder of equity shares will be entitled to receive 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.

Authorised share capital of the Company was increased from Rs. 5 Lakhs consisting of 50,000 equity shares of face value of Rs. 10 each to Rs. 750 Lakhs consisting of 75,00,000 equity shares of face value of Rs. 10 each.

Note 2.4 - Bonus Shares/Buy Back/Shares for consideration other than cash issues during the past years

The Company has allotted 50,00,000 equity shares of face value of Rs. 10 each as bonus shares in the proportion of 1:500 (Five Hundred) bonus equity share of face value of Rs. 10 for every one equity share of face value of Rs. 10 held as on the record date, by capitalising an amount of Rs. 500 Lakhs from Reserve & Surplus.

Note : 4.1 - Additional Information to Secured Long Term Borrowings

The Non-Current portion of term loans are shown under long term borrowings and the current maturities of the long term borrowings are shown under short term borrowings as per disclosure requirements of the Schedule III of the Companies Act, 2013.

Note 8.1:Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

The Management has identified enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of amounts payable to such enterprises as at March 31, 2024 has been made based on the information available with the Company. Further, in the view of the Management, the impact of interest, if any, that may be payable in accordance with the Act is not expected to be material. The Company has not received any claim for interest from any supplier under this Act. The information has been determined to the extent such parties have been identified on the basis of information available with the Company. Auditors have placed reliance on such information provided by the Management.

Note 28 : Contingent Liabilities
Particulars	Status	Financial Year	As at March 31, 2024	As at March 31, 2023
Income Tax	Appeal to Commissioner of Income tax(Appeals)	2015-16	0.73	0.73
Capital Committed as per Contribution Agreement to JM Financial India Growth Fund III	Undrawn Capital Commitment of Rs.1,00,000/- per Unit	-	86.03	67.00
Bank Guarantee	-	-	75.25	48.23
Total			162.01	115.96

A) Leases as lessee

The Company has taken premises on Operating cancellable Lease and License Agreements from Ramesh Hingorani. Period of lease being 12 months commencing from 01/04/2024 to 31/03/2025. Lease payments under an operating lease should be recognised as an expense on a straight line basis over the lease term. Lease payment of Rs. 12.90 Lakhs (P.Y. Rs. 15.32 Lakhs) has been recognised as an expense in the Statement of Profit and Loss.

B) Leases as lessor

The Company has given server on operating cancellable Lease and License Agreements to M/s Vardhan SK Healthcare Private Limited. Period of lease being 12 months commencing from date of Delivery of leased asset i.e. 13th February 2024 . Income from Operating Leases is recognised as revenue on a straight-Line basis over the Lease term. Lease Income of Rs. 107.50 Lakhs (P.Y. Rs. NIL) has been recognised in revenue from operation in the statement of profit and loss.

Note : The Previous year Figure of lease rental receivable has not been disclosed, bacause the agreement has been made During the year.

Note 34 : Employee Benefits Note 34.1: Provident Fund

In accordance with the Employee’s Provident Fund and Miscellaneous Provisions Act, 1952, eligible employees of the Company are entitled to receive benefits in respect of provident fund, a defined contribution plan, in which both employees and the Company make monthly contributions at a specified percentage of the covered employees’ salary. The contributions, as specified under the law, are made to the employee provident fund organization (EPFO).

Note 34.2: Gratuity

The benefits payable under this plan are governed by "Gratuity Act 1972”. Under the Act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member‘s length of service and salary at retirement age.

The following tables summarise the components of net benefit expense recognised in the summary statement of profit or loss and the funded status and amounts recognised in the statement of assets and liabilities for the respective plans:

Note 35 : Segment Information

The Company has oragnised its business into four segments , Description of each segment is as follows:

i) IT infrastructure solutions

ii) Software and web based Application development services

iii) Application management service (AMS)

iv) Leasing of services

Note 36

Certain Trade receivables, Advances and Trade payables as at March 31, 2024 are subject to confirmation of balances and reconciliation with the respective parties, the impact of which is not ascertained. The financial statements do not include the impact of adjustments, if any, which may arise out of the confirmation and reconciliation process. Management is of the opinion that there will be no significant impact on the financial statements.

Note 37

In the opinion of the Board the Current Assets, Loans & Advances are realisable in the ordinary course of business atleast equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

Note 38 : Other Statutory Information

i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

ii) The company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period

iii) The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

iv) During the audited period, the Company has not revalued its Property, Plant and Equipments.

v) The Company have not traded or invested in Crypto currency or Virtual Currency during the audited period.

vi) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend 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.

vii) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend 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,

viii) The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

ix) Based on the information available with the Company, the Company do not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

Note 39

The Balance sheet, Statement of profit and loss, Statement of significant accounting policies and the other explanatory Notes form an integral part of the financial statements of the Company for period ended 31st March, 2024 & 31st March 2023.