Notes to Accounts of Galactico Corporate Services Ltd.

Mar 31, 2025

¦ Provisions & contingencies: A provision is recognised when the company has a present
obligation as a result of past events and it is probable that an outflow of resources will be
required to settle the obligation, in respect of which a reliable estimate can be made. Provisions
are not discounted to their present value and are determined based on best estimates required
to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the current best estimates.

A contingent liability is a possible obligation that arises 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 recognized 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 recognized because it cannot be measured reliably.
The company does not recognize a contingent liability but discloses its existence in the
financial statements. Contingent liabilities are disclosed by way of notes to the accounts.
Contingent assets are not recognized.

¦ Deferred tax: The Company reviews the carrying amount of deferred tax assets at the end of
each reporting period. The details of the deferred tax have been mentioned in below notes to
the standalone financial statements.

¦ Fair value measurements of financial instruments: When the fair value of financial assets and
financial liabilities recorded in the balance sheet cannot be measured based on quoted prices
in active markets, their fair value is measured using valuation techniques including Discounted
Cash Flow Model. The inputs to these models are taken from observable markets where
possible, but where this is not feasible, a degree of judgement is required in establishing fair
value. Judgements include considerations of inputs such as liquidity risks, credit risks and
volatility. Changes in assumptions about these factors could affect the reported fair value of
financial instruments.

2.4 PRIOR PERIOD ITEMS

Expenses relating to earlier period are debited to profit and loss account, if any. As per information
and explanation and records kept by the Company, the amount of such expenses and incomes are not
fully quantifiable.

2.5 CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items

and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from operating, investing and financing
activities of the Company are segregated based on the available information.

2.6 PROPERTY, PLANT & EQUIPMENT

All the items of property, plant & equipment are stated at historical cost net of recoverable taxes, less
accumulated depreciation, and impairment loss, if any. The cost of a Property, Plant & Equipment
comprises its purchase price or construction cost, any costs directly attributable to bringing the asset
into its present location and the condition necessary for it to be capable of operating in the manner
intended by the management, and also taking into account the initial estimate of any decommissioning
obligation, if any, and Borrowing Costs for the assets that necessarily take a substantial period of time
to get ready for their intended use.

Subsequent costs are included in the asset''s carrying amount or recognized as a separate asset, as
appropriate, only when it is probable that future economic benefits associated with the item will flow
to the Company and the cost of the item can be measured reliably.

The estimated useful lives of assets are in accordance with the Schedule II of the Companies Act, 2013
except for office equipment.

Gains or losses arising from de-recognition / disposal of a Property, Plant and Equipment are measured
as the difference between the net disposal proceeds and the carrying amount of the asset and are
recognized in the Statement of Profit and Loss when the asset is derecognized / disposed of.

2.7. DEPRECIATION /AMORTISATION
PROPERTY, PLANT & EQUIPMENT

The company has charged depreciation on Property, Plant & Equipments on Straight Line Method
(SLM) method on the basis of useful life / remaining useful life and in the manner as prescribed in, Part
C, Schedule II of the Companies Act, 2013. Depreciation on additions/ disposals during the year has
been provided on pro-rata basis with reference to the nos. of days utilized. Depreciation on additions/
disposals during the year has been provided on pro-rata basis. *Details of useful life of an asset and its
residual value estimated by the management are same as Schedule II of the Companies act, 2013
except for Office equipment and are as follows:

2.8 IMPAIRMENT

At each balance sheet date, the company reviews the carrying amounts of its assets to determine
whether there is any indication that those assets suffered any impairment loss. If any such indication
exists or when annual impairment testing for an asset is required, the recoverable amount of the asset
is estimated in order to determine the extent of impairment loss. An impairment loss, if any, is
recognised in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its
recoverable amount. The recoverable amount is higher of an asset''s fair value less cost of disposal and
value in use.

2.9 FINANCIAL INSTRUMENTS

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.

Financial Assets

Initial Recognition and Measurement

A financial asset is recognized in the balance sheet when the Company becomes party to the
contractual provisions of the instrument. At initial recognition, the company measures a financial asset
taking into account transactions cost that are directly attributable to the acquisition or issue of the
financial asset.

Subsequent Measurement

a. Financial Assets measured at Amortised Cost (AC)

A Financial Asset is measured at Amortised Cost if it is held within a business model whose
objective is to hold the asset in order to collect contractual cash flows and the contractual terms
of the Financial Asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

b. Financial Assets measured at Fair Value through Other Comprehensive Income (FVTOCI)

A Financial Asset is measured at FVTOCI if it is held within a business model whose objective is
achieved by both collecting contractual cash flows and selling Financial Assets and the contractual
terms of the Financial Asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

c. Financial Assets measured at Fair Value Through Profit or Loss (FVTPL)

Financial Assets which are not classified in any of the above categories are measured at FVTPL.

2.10 INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES (IF ANY)

Investments in subsidiaries are carried at cost/deemed cost applied on transition to Ind AS, less
accumulated impairment losses, if any. Where an indication of impairment exists, the carrying amount
of investment is assessed and an impairment provision is recognised, if required immediately to its
recoverable amount. On disposal of such investments, difference between the net disposal proceeds
and carrying amount is recognised in the statement of profit and loss.

2.11 CASH AND CASH EQUIVALENTS

Cash and cash equivalents in the cash flow statement comprise cash at bank and in hand, and fixed
deposits, that are readily convertible to know amounts of cash, and which are subject to an
insignificant risk of change in value.

2.12 INCOME TAXES

Tax expenses comprise Current Tax and deferred tax charge or credit.

Current Tax:

Provision for current tax is made based on tax liability computed after considering tax allowances and
exemptions, in accordance with the provisions of The Income Tax Act, 1961.

Deferred Tax:

Deferred tax assets and liability is recognized, on timing differences, being the differences between
taxable income and accounting income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets arising mainly on account of brought forward losses,
unabsorbed depreciation and minimum alternate tax under tax laws, are recognized, only if

there is a virtual certainty of its realization, supported by convincing evidence. At each Balance Sheet
date, the carrying amount of deferred tax assets are reviewed to reassure realization. The deferred tax
asset and deferred tax liability is calculated by applying tax rate and tax laws that have been enacted
or substantively enacted by the Balance Sheet date.

Current and deferred tax are recognized as an expense or income in the statement of profit and loss,
except when they relate to items credited or debited either in other comprehensive income or directly
in equity, in which case the tax is also recognized in other comprehensive income or directly in equity.

2.13 REVENUE RECOGNITION

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured and it is reasonable to expect ultimate collection.
The following specific recognition criteria must also be met before revenue is recognized:

Sale of services:

Revenue is measured at the fair value of the consideration received or receivable with respect to the
degree of completion of each Service.

Interest:

Interest Income is recognized on a time proportion basis taking into account the amount outstanding
and the rate applicable. Interest income is included under the head "other income" in the statement
of profit and loss.

Dividend:

Dividend income is accounted as and when right to receive dividend is established.

2.14 Approval of Financial Statement

The Board of Directors approved the financial statement of the Company as on April 27, 2025.

2.15 BORROWING COST

Borrowing costs directly attributable to acquisition, construction or production of qualifying assets
till the month in which the asset is ready to use, are capitalized.

Other borrowing costs are recognized as expenses in the period in which these are incurred.

2.16 EARNINGS PER SHARE

Earnings per share is calculated by dividing the net profit or loss after tax and prior period adjustments
attributable to equity shareholders by the weighted average number of equities shares outstanding
during the year.

2.17 SEGMENT REPORTING

The Company is doing business in one segment only and therefore Segment Reporting is not applicable
to the Company. The Company caters mainly the needs of the Indian Market hence separate
geographical segmental information has not been given.

2.18 LEASES

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest

with the lessor are recognized as operating leases. Lease rentals under operating leases are recognized
in the statement of Profit and Loss on a straight-line basis.

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Mar 31, 2024

4.1 The Company has Investments in Equity and Debt Instruments of Subsidiaries and these investments are measured at cost.

4.2 The Company also has Investments in Quoted instruments other than Equity and Debt Instruments of Subsidiaries and these investments are measured at Fair value through FVTOCI.

7.1 Current loans to related parties represents loans and advances given to subsidiaries Rs. 586.97 Lakhs. These are inter corporate deposits that have been provided for meeting working capital requirements and for other business purposes.

7.2 Current loans to Others are inter corporate deposits and other advances given.

7.3 There are no credit impairment with respect to current loans and therefore, allowance in respect of the same has not been made and disclosed in the respective schedule.

7.4 There are no outstanding debts due from directors or other officers of the Company as on March 31, 2024.

These loans and advances are repayable on demand and no schedule for repayment of Principle and Interest amount has been

7.5 stipulated.

Disclosure as per Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)

7.6 Regulations, 2015:

111 (^a) Th^{e com}P^any has only one class of shares referred to as equity shares having a par value of Rs. 1/- each. Each holder of equity shares is entitled to one vote per share and dividend in Indian rupees, if proposed by the Board of Directors, which is subject to the approval of the shareholders in the

(b) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held at the time of commencement of

(c) The Suareholders have all other rights as available to equity shareholders as per the provisions of The Companies Act, 2013, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

(d) The Company in General Meeting may declare dividends to be paid to members, but no dividends shall exceed the amount recommended by the board, but the company in General meeting may declare a smaller dividend.

11.2 The Company does not have any holding or ultimate holding Company. Hence, requirement regarding shareholding by holding Company is not

Nature and purpose of reserves

(a) Securities Premium -

Securities Premium is created to record the premium on issue of Shares. Moreover, It will be utilized only for the purposes as provided under section-52 of The Companies Act,2013.

(b) Retained earnings-

Retained earnings are the undistributed accumulated earnings of the Company as on the balance sheet date.

(c) Other Comprehensive Income-

Other Comprehensive Income (OCI) is a section of the comprehensive income statement that includes items of income and expense that are not recognized in the profit or loss statement. These items are typically non-cash in nature and can significantly impact the financial position of a company, but their recognition in profit or loss would distort the picture of its operating performance.

13.1 Secured Loan from bank consists of the following -

a. Vehicle loan from Bank amounting to Rs. 69,16,229. The loan carries an interest rate of 8.4% per annum and repayable in 88 equal installment. The vehicle loan is secured by the vehicle purchased.

a. Vehicle loan from Bank amounting to Rs. 18,01,000. The loan is repayable in 88 equal installment. The vehicle loan is secured by the vehicle purchased.

16.1 Company has availed credit facility from Bank of Rs. 3,96,28,334/-. The facility interest rate ranged from 8.70% to 9.0% per annum. The facility is secured by Immovable property located at Mumbai.

17.2 There are no unbilled and not due trade payables, hence the same has not been disclosed in ageing schedule.

17.3 (a) Trade payables include Rs. Nil (As at March 31, 2024: Rs. Nil) due to micro, small and medium enterprises registered under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED).

(b) The Company is in the process of compiling relevant information from its suppliers about their coverage under the Micro, Small and Medium Enterprises Development Act, 2006. As the Company has not received any intimation from its suppliers as on date regarding their status under the above said Act and hence disclosures if any relating to amounts unpaid as at year end together with the interest paid /payable as required under the said Act have not been given.

Note 27 : Capital Management

The Company manages its capital in order to ensure that the Company will continue as a going concern and create value for its shareholders by maximizing return through an optimized capital structure.

(b) Short-term financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

(c) Investment consist of invetsments only in subsidiaries. Hence, measured at cost/ carrying value.

(d) Borrowings are loan from commercial banks at market interest rates prevailing in the market. Hence, considered at carrying value.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments,traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using closing NAV._

Level 2: The fair value of financial instruments that are not traded in an active market(for example, traded bonds,over the counter derivatives) 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 are 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,contingent consideration and indemnification asset included in Level 3.

The Company''s policy is to recognise transfers into and transfer out in fair value hierarchy levels at the end of the reporting period.

Note 29 : Financial Risk Management Financial Risk Factors

The Company''s principal financial liabilities comprise borrowings and trade payables. The main purpose of these financial liabilities is to manage finances for the Company''s operations. The Company has loan, trade and other receivables, cash and short-term deposits that arise directly from its operations. The Company''s activities expose it to a variety of financial risks:

i) Credit Risk

Credit risk arises from cash and cash equivalents and deposits with bank(s) / other company, as well as credit exposure to counter party that will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.

ii) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

(a) Foreign Exchange Risk

The Company generally transacts business in Indian National Rupee (INR) and the amount of foreign currency transaction are immaterial. The Company does not have any foreign currency financial instruments and therefore is not exposed to foreign exchange risk.

(b ) Price Risk

During the financial year, the company engaged in providing Professional services in finance industry. The price volatility ofthese services in domestic and international markets does not generally affect the operating activity of the Company.

iii) Liquidity Risk

The Company considers factors such as track record, size of the institution, market reputation and service standards to select the banks with which balances and deposits are maintained. Generally, the balances are maintained with the institutions with which the Company has also availed borrowings. The Company does not maintain significant cash and deposit balances other than those required for its day to day operations subject to the compliance with loan facilities. Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses.

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availibility of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions.

The Company''s objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium term expansion needs. Management monitors the Company''s liquidity position through rolling forecasts on the basis of expected cash flows.

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on contractual undiscounted payments.

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Mar 31, 2023

¦ Provisions & contingencies: A provision is recognised when the company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to their present value and are determined based on best estimates required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

A contingent liability is a possible obligation that arises 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 recognized 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 recognized because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements. Contingent liabilities are disclosed by way of notes to the accounts. Contingent assets are not recognized.

¦ Deferred tax: The Company reviews the carrying amount of deferred tax assets at the end of each reporting period. The details of the deferred tax have been mentioned in below notes to the standalone financial statements.

¦ Fair value measurements of financial instruments: When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including Discounted Cash Flow Model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair value. Judgements include considerations of inputs such as liquidity risks, credit risks and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

2.4 PRIOR PERIOD ITEMS

Expenses relating to earlier period are debited to profit and loss account, if any. As per information and explanation and records kept by the Company, the amount of such expenses and incomes are not fully quantifiable.

2.5 CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

2.6 PROPERTY, PLANT & EQUIPMENT

All the items of property, plant & equipment are stated at historical cost net of recoverable taxes, less accumulated depreciation, and impairment loss, if any. The cost of an Property, Plant & Equipment comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into its present location and the condition necessary for it to be capable of operating in the manner intended by the management, and also taking into account the initial estimate of any decommissioning obligation, if any, and Borrowing Costs for the assets that necessarily take a substantial period of time to get ready for their intended use.

Subsequent costs are included in the asset''s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably.

The estimated useful lives of assets are in accordance with the Schedule II of the Companies Act, 2013 except for office equipment.

Gains or losses arising from de-recognition / disposal of a Property, Plant and Equipment are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is derecognized / disposed of.

2.7. DEPRECIATION /AMORTISATION PROPERTY, PLANT & EQUIPMENT

The company has charged depreciation on Property, Plant & Equipments on Straight Line Method (SLM) method on the basis of useful life / remaining useful life and in the manner as prescribed in, Part C, Schedule II of the Companies Act, 2013. Depreciation on additions/ disposals during the year has been provided on pro-rata basis with reference to the nos. of days utilized. Depreciation on additions/ disposals during the year has been provided on pro-rata basis. *Details of useful life of an asset and its residual value estimated by the management are same as Schedule II of the Companies act, 2013 except for Office equipment and are as follows:

In none of the case, residual value of an asset is more than five per cent of original cost of the asset.

2.8. IMPAIRMENT

At each balance sheet date, the company reviews the carrying amounts of its assets to determine whether there is any indication that those assets suffered any impairment loss. If any such indication exists or when annual impairment testing for an asset is required, the recoverable amount of the asset is estimated in order to determine the extent of impairment loss. An impairment loss, if any, is recognised in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset''s fair value less cost of disposal and value in use.

2.9. FINANCIAL INSTRUMENTS

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial Assets

Initial Recognition and Measurement

A financial asset is recognized in the balance sheet when the Company becomes party to the contractual provisions of the instrument. At initial recognition, the company measures a financial asset taking into account transactions cost that are directly attributable to the acquisition or issue of the financial asset.

Subsequent Measurement

a. Financial Assets measured at Amortised Cost (AC)

A Financial Asset is measured at Amortised Cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the Financial Asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

b. Financial Assets measured at Fair Value through Other Comprehensive Income (FVTOCI)

A Financial Asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling Financial Assets and the contractual terms of the Financial Asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

c. Financial Assets measured at Fair Value Through Profit or Loss (FVTPL)

Financial Assets which are not classified in any of the above categories are measured at FVTPL.

2.10: INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES (IF ANY)

Investments in subsidiaries are carried at cost/deemed cost applied on transition to Ind AS, less accumulated impairment losses, if any. Where an indication of impairment exists, the carrying amount of investment is assessed and an impairment provision is recognised, if required immediately to its recoverable amount. On disposal of such investments, difference between the net disposal proceeds and carrying amount is recognised in the statement of profit and loss.

2.11: CASH AND CASH EQUIVALENTS

Cash and cash equivalents in the cash flow statement comprise cash at bank and in hand, and fixed deposits, that are readily convertible to know amounts of cash, and which are subject to an insignificant risk of change in value.

2.12: INCOME TAXES

Tax expenses comprise Current Tax and deferred tax charge or credit.

Current Tax:

Provision for current tax is made based on tax liability computed after considering tax allowances and exemptions, in accordance with the provisions of The Income Tax Act, 1961.

Deferred Tax:

Deferred tax assets and liability is recognized, on timing differences, being the differences between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising mainly on account of brought forward losses, unabsorbed depreciation and minimum alternate tax under tax laws, are recognised, only if there is a virtual certainty of its realisation, supported by convincing evidence. At each Balance Sheet date, the carrying amount of deferred tax assets are reviewed to reassure realisation. The deferred tax

asset and deferred tax liability is calculated by applying tax rate and tax laws that have been enacted or substantively enacted by the Balance Sheet date.

Current and deferred tax are recognised as an expense or income in the statement of profit and loss, except when they relate to items credited or debited either in other comprehensive income or directly in equity, in which case the tax is also recognised in other comprehensive income or directly in equity.

2.13: REVENUE RECOGNITION

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured and it is reasonable to expect ultimate collection. The following specific recognition criteria must also be met before revenue is recognized:

Sale of services:

Revenue is measured at the fair value of the consideration received or receivable with respect to the degree of completion of each Service.

Interest:

Interest Income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. Interest income is included under the head "other income" in the statement of profit and loss.

Dividend:

Dividend income is accounted as and when right to receive dividend is established.

2.14. Approval of Financial Statement

The Board of Directors approved the financial statement of the Company as on April 14, 2023.

2.15. BORROWING COST

Borrowing costs directly attributable to acquisition, construction or production of qualifying assets till the month in which the asset is ready to use, are capitalized.

Other borrowing costs are recognized as expenses in the period in which these are incurred.

2.16. EARNINGS PER SHARE

Earnings per share is calculated by dividing the net profit or loss after tax and prior period adjustments attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

2.17: SEGMENT REPORTING

The Company is doing business in one segment only and therefore Segment Reporting is not applicable to the Company. The Company caters mainly the needs of the Indian Market hence separate geographical segmental information has not been given.

2.18: LEASES

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor are recognized as operating leases. Lease rentals under operating leases are recognized in the statement of Profit and Loss on a straight-line basis.

Note 29 : Financial Risk Management Financial Risk Factors

The Company''s principal financial liabilities comprise borrowings and trade payables. The main purpose of these financial liabilities is to manage finances for the Company''s operations. The Company has loan, trade and other receivables, cash and short-term deposits that arise directly from its operations. The Company''s activities expose it to a variety of financial risks:

i) Credit Risk

Credit risk arises from cash and cash equivalents and deposits with bank(s) / other company, as well as credit exposure to counter party that will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.

ii) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

(a) Foreign Exchange Risk

The Company generally transacts business in Indian National Rupee (INR) and the amount of foreign currency transaction are immaterial. The Company does not have any foreign currency financial instruments and therefore is not exposed to foreign exchange risk.

(b ) Price Risk

During the financial year, the company engaged in providing Professional services in finance industry. The price volatility of these services in domestic and international markets does not generally affect the operating activity of the Company.

iii) Liquidity Risk

The Company considers factors such as track record, size of the institution, market reputation and service standards to select the banks with which balances and deposits are maintained. Generally, the balances are maintained with the institutions with which the Company has also availed borrowings. The Company does not maintain significant cash and deposit balances other than those required for its day to day operations subject to the compliance with loan facilities. Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses.

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availibility of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions.

The Company''s objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium term expansion needs. Management monitors the Company''s liquidity position through rolling forecasts on the basis of expected cash flows.

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on contractual undiscounted payments.

4. Disclosure required under the Micro, Small and Medium Enterprises Development Act, 2006:

The Company has not maintained the records and details of its suppliers regarding their status as Micro, Small and Medium Enterprises as defined under "Micro, Small and Medium Enterprises Development Act, 2006 Since the details are not available in this regards it is not possible for us to give necessary disclosures required.

5. The figures of previous year are regrouped, reworked, reclassified and rearranged wherever necessary to make them comparable with those of current year.

6. The Company has not declared any dividend during the current & previous financial year. And the Company has only one class of equity shares and no preference shares. Therefore, separate disclosure with respect to the amount of dividends proposed to be distributed to equity and

preference shareholders for the period and title related amount per share is not applicable to the Company. Also, there are no irredeemable preference shares issued by the Company.

7. As on March 31, 2023, no amount (whole/ in part) received in respect of an issue of securities made for a specific purpose has been used for any other purpose.

8. As on March 31, 2023, no amount (whole/ in part) of borrowings from banks and financial institutions taken for the specific purpose has been used for any other purpose.

9. The Company has not granted any loans & advances in the nature of loan to promoters, Directors & KMPs as defined under the Companies Act, 2013. However, loans and advances in the nature of loan has been given to related parties whose details are mentioned below:

10. The title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in the standalone financial statements are held in the name of the Company.

11. The Company does not hold any Investment property and Intangible assets. Hence, disclosure in respect of whether the fair value of investment property & Intangible assets (as measured for disclosure purposes in the financial statements) is based on the valuation by a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017, is not applicable to the Company.

12. The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets). Hence, disclosure in respect of whether the fair value of Property, Plant and Equipment (including Right-of-Use Assets) (as measured for disclosure purposes in the financial statements) is based on the valuation by a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017, is not applicable to the Company.

13. The Company does not hold any Capital WIP or any Intangible assets under development. Hence, requirement of ageing schedule in respect of the same is not applicable to the Company.

14. The Company does not have any relationship with struck off companies.

15. Details of pending charge creation/satisfaction registration with ROC: There is no charge pending with ROC.

16. 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 the Companies (Restriction on number of Layers) Rules, 2017.

17. Compliance with approved Scheme of Arrangement is not applicable to the Company.

18. As on March 31, 2023, the Company does not have any application money pending allotment.

19. The Company has not issued any Preference Shares and Compound Financial Instruments. Hence, split into equity and liability components as per Indian Accounting Standards is not applicable to the Company.

20. Clause with respect to Regulatory Deferral Account Balances is not applicable to the Company.

21. The Company has not sold any Investments, not made any contribution to Provident & other funds and not made any share-based payments to employees during the financial year.

22. The Company does not have any items of exceptional nature and no undisclosed Income for the financial year.

23. The Company has not traded or invested in Crypto Currency or Virtual Currency during the year.

As per our report attached of even date

For M/s. GRANDMARK & Associates. For and on Behalf of Board of Directors of

Chartered Accountants Galactico Corporate Services Limited

FRN:011317N

CA Vinit P. Picha Vipul Lathi Rahul Dungarwal

Partner Chairman and Director Non-Executive Director

M.No. 159938 DIN: 05173313 DlN: 03578448

Place : Nashik

Date : April 14, 2023 Vishal Sancheti Riddhi Bheda

UDIN : 23159938BGWYXV1205 Chief Financial Officer Company Secretary