Notes to Accounts of IIRM Holdings India Ltd.

Mar 31, 2025

k) Provisions, contingent liabilities and
contingent assets

Provisions are recognized only when there is a present
obligation, as a result of past events, and when a

reliable estimate of the amount of obligation can
be made at the reporting date. These estimates
are reviewed at each reporting date and adjusted
to reflect the current best estimates. Provisions are
discounted to their present values, where the time
value of money is material.

Contingent liability is disclosed for:

• Possible obligations which will be confirmed only
by future events not wholly within the control of
the Company; or

• Present obligations arising from past events where
it is not probable that an outflow of resources will
be required to settle the obligation or a reliable
estimate of the amount of the obligation cannot
be made.

Contingent assets are neither recognized nor disclosed.
However, when realization of income is virtually certain,
related asset is recognized.

l) Cash and cash equivalents

Cash and cash equivalents include cash on hand,
deposits held at call with financial institutions, other
short-term, highly liquid investments with original
maturities of three months or less, that are readily
convertible to known amounts of cash and which are
subject to an insignificant risk of changes in value and
bank overdrafts. Bank overdrafts are shown within
borrowings in current liabilities in the balance sheet.

m) Cash flow statement

Cash flows are reported using the indirect method,
whereby net profit/(loss) before tax is adjusted for the
effects of transactions of a 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.

n) Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss for the period attributable to equity
shareholders (after deducting attributable taxes)
by the weighted average number of equity shares
outstanding during the period. The weighted average
number of equity shares outstanding during the period
is adjusted for events including a bonus issue.

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

Note 27: Balance Confirmations

Confirmations of receivables and payable balances have not been received by the Company; hence, reliance is
placed on the balances as per books. In the opinion of the management, the amounts are realizable/payable in
the ordinary course of business.

Note 28: Due to Micro and Small Enterprises

The Company has no dues to Micro and Small Enterprises as of March 31, 2025, and March 31, 2024 in the financial
statements based on information received and available with the company.

Note 29: Fair Value Measurements

i. Fair value hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped
into three levels of a fair value hierarchy. The three levels are defined based on the observability of significant
inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable.

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

The Company''s principal financial liabilities comprise
trade and other payables. The Company''s principal
financial assets include trade and other receivables,
and cash & cash equivalents that derive directly from
its operations. The Company also holds investment in
its subsidiaries.

The Company is exposed to market risk, credit risk and
liquidity risk. The Company''s Board of Directors oversees
the management of these risks. The Company''s Board
of Directors is supported by the senior management
that advises on financial risks and the appropriate
financial risk governance framework for the Company.
The senior management provides assurance to the
Company''s board of directors that the Company''s
financial risk activities are governed by appropriate
policies and procedures and that financial risks are
identified, measured and managed in accordance with
the Company''s policies and risk objectives.

The carrying amounts reported in the statement of
financial position for cash and cash equivalents, trade
and other receivables, trade and other payables and
other liabilities approximate their respective fair values
due to their short maturity.

Note 30: Financial Instruments Risk Management
i. Market Risk

Market risk is the risk that changes in market prices,
such as foreign exchange rates, interest rates and
equity prices, which will affect the company''s income
or the value of its holdings of financial instruments. The
objective of market risk management is to manage
and control market risk exposures within acceptable
parameters, while optimizing the return.

a. Interest rate risk

Interest rate risk is the risk that the fair value or future
cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The
company has exposure only to financial instruments at
fixed interest rates. Hence, the company is not exposed
to significant interest rate risk.

b. Price Risk

The company''s exposure to equity securities price risk
arises from investments held by the company and
classified in the balance sheet either at fair value
through OCI or at fair value through profit and loss.
The majority of the company''s equity instruments are
publicly traded.

ii. Credit Risk

Credit risk is the risk that a counter party fails to discharge an obligation to the Company, leading to a financial
loss. The Company is mainly exposed to the risk of its balances with the bankers and trade and other receivables.
Ageing of receivables is as follows:

iii. Liquidity Risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the
availability of funding through an adequate amount of committed credit facilities to meet obligations when
due. Due to the nature of the business, the Company maintains flexibility in funding by maintaining availability
under committed facilities.

Management monitors rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the
basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity
operates. The Company''s principal sources of liquidity are the cash flows generated from operations. The Company
has no long-term borrowings and believes that the working capital is sufficient for its current requirements.
Accordingly, no liquidity risk is perceived.

The tables below analyses the Company''s financial liabilities into relevant maturity groupings based on their
contractual maturities for all non-derivative financial liabilities. The amounts disclosed in the table are the
contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact
of discounting is insignificant.

Note 33: Other Statutory Compliances

a) The company does not have any benami property,
where any proceeding has been initiated, or
pending against the company for holding any
benami property.

b) The company does not have any transactions with
companies struck off.

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

d) The company has not traded or invested in crypto
currency or virtual currency during the financial
year.

e) The company has not advanced or loaned or
invested funds to any other persons or entities,
including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

i. 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

ii. Provide any guarantee, security or the like to
or on behalf of the Ultimate Beneficiaries.

f) The company has not received any fund from
any persons or entities, including foreign entities
(Funding Party) with the understanding (whether
recorded in writing or otherwise) that the company
shall:

i. 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

ii. Provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.

g) The company does not have any such transaction
which is not recorded in the books of account
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).

Note 34:

Previous year''s figures have been regrouped/reclassified/recasted wherever necessary to confirm to the current
year''s presentation.

As per our report on even date

For Seshachalam & Co. For and on behalf of the Board of Directors of

Chartered Accountants IIRM Holdings India Limited

Firm Registration Number.: 003714S [Formerly known as Sudev Industries Limited]

Vurakaranam Rama Krishna Rama Mohan Rao Bandlamudi

T. Bharadwaj Chairman-cum-Managing Director

Partner Director DIN: 00285798

Membership No.: 201042 DIN: 00700881

Naveen Kumar

Place: Hyderabad, Apparao Ryali Company Secretary

Date: April 23, 2025 Chief Financial Officer Membership No.: A51220

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Mar 31, 2024

(b) Rights, preferences and restrictions attached to equity shares:

The Company has one class of equity shares having a par value of '' 10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting. However, interim dividend can be declared by the Board of Directors subject to the provisions of the Companies Act 2013, relevant rules and regulations thereunder.

NOTE 21: SEGMENT INFORMATION

The Company operates in a single reportable operating segment "Professional and Consultancy Services” in India. Thus, there are no reportable segments as defined in Ind AS 108 “Operating Segments”. The Company earns its entire revenue from customers in India, being Company''s country of domicile. All non-current assets other than financial instruments and deferred tax assets are located in India.

NOTE 25: BALANCE CONFIRMATIONS

Confirmations of receivables and payable balances have not been received by the Company; hence, reliance is placed on the balances as per books. In the opinion of the management, the amounts are realizable/payable in the ordinary course of business.

NOTE 26: DUE TO MICRO AND SMALL ENTERPRISES

The Company has no dues to Micro and Small Enterprises as at March 31, 2024 and March 31, 2023 in the financial statements based on information received and available with the Company.

NOTE 27: FAIR VALUE MEASUREMENTS

i. Fair value hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

The Company''s principal financial liabilities comprise trade and other payables. The Company''s principal financial assets include trade and other receivables, and cash & cash equivalents that derive directly from its operations. The Company also holds investment in its subsidiaries.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s Board of Directors oversees the management of these risks. The Company''s Board of Directors is supported by the senior management that advises on financial risks and the appropriate financial risk governance framework for the Company. The senior management provides assurance to the Company''s board of directors that the Company''s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

The carrying amounts reported in the statement of financial position for cash and cash equivalents, trade and other receivables, trade and other payables and other liabilities approximate their respective fair values due to their short maturity.

NOTE 28: FINANCIAL INSTRUMENTS RISK MANAGEMENT

i. Market Risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, which will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

a. Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company has exposure only to financial instruments at fixed interest rates. Hence, the Company is not exposed to significant interest rate risk.

b. Price Risk

The Company''s exposure to equity securities price risk arises from investments held by the Company and classified in the balance sheet either at fair value through OCI or at fair value through profit and loss. The majority of the Company''s equity instruments are publicly traded.

ii. Credit Risk

Credit risk is the risk that a counter party fails to discharge an obligation to the Company, leading to a financial loss. The Company is mainly exposed to the risk of its balances with the bankers and trade and other receivables. Ageing of receivables is as follows:

iii. Liquidity Risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the nature of the business, the Company maintains flexibility in funding by maintaining availability under committed facilities.

Management monitors rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity operates. The Company''s principal sources of liquidity are the cash flows generated from operations. The Company has no long-term borrowings and believes that the working capital is sufficient for its current requirements. Accordingly, no liquidity risk is perceived.

The tables below analyses the Company''s financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is insignificant.

NOTE 29: CAPITAL RISK MANAGEMENT

The Company''s objective when managing capital is to safeguard the Company''s ability to continue as a going concern in order to provide returns for shareholders and benefits for stakeholders. The Company also proposes to maintain an optimal capital structure to reduce the cost of capital. Hence, the Company may adjust any dividend payments, return capital to shareholders or issue new shares. Total capital is the equity as shown in the statement of financial position. Currently, the Company primarily monitors its capital structure on the basis of gearing ratio. Management is continuously evolving strategies to optimize the returns and reduce the risks. It includes plans to optimize the financial leverage of the Company.

NOTE 30: EXCEPTIONAL ITEM

During the year, Company in it''s board meeting held on January 18, 2024 allotted 5,97,17,650 equity shares, with a face value of '' 5.00 each as fully paid up, aggregating to an amount of '' 29,85,88,250, in lieu of 3,64,13,221 equity shares of Face Value of '' 5.00 each carrying a premium of '' 3.20 per share as fully paid up held by the shareholders in Sampada Business Solutions Limited on preferential basis, for consideration other than cash by Share swap, to the persons who have accepted the offer.

NOTE 31: EVENT OCCURRED AFTER THE BALANCE SHEET DATE

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approval of financial statements to determine the necessity for recognition and/or reporting of subsequent events and transactions in the financial statements. As of May 16, 2024, there were no subsequent events and transactions to be recognized or reported that are not already disclosed.

NOTE 33: OTHER STATUTORY COMPLIANCES

a) The Company does not have any benami property, where any proceeding has been initiated, or pending against the Company for holding any benami property.

b) The Company does not have any transactions with companies struck off.

c) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

d) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

e) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

i. 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

ii. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

f) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

i. 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

ii. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

g) The Company does not have any such transaction which is not recorded in the books of account 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).

NOTE 34:

Previous year''s figures have been regrouped/reclassified/recasted wherever necessary to confirm to the current year''s presentation.

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Mar 31, 2013

1.1 Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

1.2 The Current Assets. Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.3 Notes are integral part of the Balance Sheet and Profit & Loss Account.

1.4 The company does not have any suppliers under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the yearend together with interest paid/payable as required under the said Act have not been provided.

1.5 All known liabilities have been provided for on the basis of available information/ estimates.

1.6 Foreign exchange: There is no foreign exchange expenditures of the company.

1.7 Estimated amount of contracts remaining to be executed capital accounts is NIL.

1.8 Earning in Foreign Currency is NIL.

1.9 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

* In the opinion of the Board the Current Assts, Loans & Advances have been valued on realization in the ordinary course of Business.

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Mar 31, 2012

1.1 The UPFC loan has been settled & all the assets have been released by the UPFC.

1.2 Company has entered one time settlement scheme under UPSC has paid off the settlement amount against by selling Fixed assets, Land, Building and Plant & machinery.

1.3 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.4 Notes are integral part of the Balance Sheet and Profit & Loss Account.

1.5 The company does not have any suppliers under the Micro, Small & Medium Enterprises development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the yearend together with interest paid/payable as required under the said Act have not been provided.

1.6 All known liabilities have been provided for on the basis of available Information/ estimates.

1.7 Foreign exchange: There is no foreign exchange expenditures of the company.

1.8 Estimated amount of contracts remaining to be executed capital accounts is NIL.

1.9 Earning in Foreign Currency is NIL.

1.10 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.11 A company does not have any information regarding status of supplier under Micro, Small or Medium.

* All known liabilities have been provided.

* Contingent liabilities NIL.

* In the opinion of the board the Current Assts, Loans & Advances have been valued on realization in the ordinary course of Business.

* Company has paid Rs 661408/- Income tax for the year 2004-05 under the protest and matter is under appeal at CIT.

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Mar 31, 2010

1 The possession of the plant of company at sikandarabad (U.P.) has been taken over by the U.P.F.C.

2 The company has not provided for interest on term loan from UPFC from F.Y. 2003-2004 onwards.

3 Estimated amount of contracts remaining to be executed on capital accounts and not provided (net of advances) is Rs. NIL and previous year also Rs. NIL.

4 Earning in Foreign Currency-NIL

5 The Companies does not own any amount to small scale Industrial Undertaking as on 31st March, 2010.

6 Contingent Liability:

(a) The company has not provided for interest on term loan from UPFC. The company is in negotiation for one time settlement with UPFC.

(b) There was one Income Tax demand against the company which the company has won in ITAT, New Delhi now the case is being contested through appeal in High Court of delhi by the IT department against the company.

7 In the opinion of the Board, the current asstes, Loans & Aadvances have been valued on realization in the ordinary course of business equal to the aggregate amount stated in the balance sheet and all known liabilities have been provided for.

8 Balances of sundry debtors, sundry creditors, loans and advances recoverable are subject to reconciliation and confirmation.

9 The comparative figures have been regrouped and / or rearranged wherever necessary and possible.

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Mar 31, 2009

Not Available

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Mar 31, 2008

1. The possession of the plant of company at Sikandrabad (U.P.) has been taken over by the UP financial corporation.

2. The company has not provided for interest on term loan form UP Financial corporation from financial year 2003-2004 onwards.

3. Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances) Rs. NIL (Previous year Rs. NIL)

4. CONTINGENT LILABILITY

(a) The Company has not provided interest on term loan from UP financial Corporation. The Company is in negotiation for one time settlement with the UP financial corporation.

(b) There are various Income Tax & Sales Tax demand which are being constructed by the company.

5. In the opinion of the Board, the current Assets, Loans & Advances have value on Realization in the ordinary course of business at least equal to the aggregate amount states in the Balance Sheet and all known liabilities have been provided for.

6. Balances of sundry Debtors, sundry Creditors, Loans & Advances Recoverable are subject to re-conciliation and confirmation.

7. Remuneration paid to the Directors is as follow :

CURRENT PERIOD PREVIOUS PERIOD Salary and Allowances NIL NIL

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Sep 30, 1995

Contingent Liability not provided for- (Nil).

In the opinion of the Board, the Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least equal to the aggregate amount stated in the Balance Sheet and all known liabilities have been provided for.

The Company has extended its financial year from ending 31-03-95 to ending 30-09-95 and accordingly the financial year is a period of 18 months.

During the year under review, the Company's project to manufacture Plastic Roto Moulded products is under implementation. The Company, however, commenced its trading operations with effect from 1st October, 1994 and therefore, the Profit and Loss Account has been prepared for the period from 1st October, 1994 to 30th September, 1995.

All expenditure for the period from 1st April, 1994 to 30th September, 1994 and thereafter expenses attributable to the project under implementation has been transferred to Project and Pre-operative Expenditure (pending allocation) to fixed assets/other appropriate heads.

No provision has been made in respect to Technical Know-how Fees payable to Foreign Collaborators amounting to Rs. 5.20 lace. The same will be capitalised as and when paid.

In the absence of confirmation from various parties, the debit and credit balances of various parties included under "Sundry Debtors" and "Sundry Creditors" in the Balance Sheet are as per Ledger.

The Company has closed its financial year on 30th September for the purpose of compliance with the provisions of the Companies Act, 1956 as against 31st March being the previous year for Tax purposes as per provisions of Section 3 of Income Tax Act, 1961. Accordingly, in the absence of profit for the year ended on 31st March, 1995 no provision has been made for the assessment year 1995-96.

The Company's profit for the period 1st April, 1995 to 30th September, 1995 together with those for the subsequent period to 31st March, 1996 will be assessable as one composite income for the Assessment Year 1996-97 and in view of this, no provision for taxation has been made as the tax liability in respect of said period of six months cannot, be quantified at present.

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Mar 31, 1994

Information not Reported