Notes to Accounts of Mantra Capital Ltd.

Mar 31, 2025

2.15 Provisions, Contingent Liabilities, Contingent Assets

Provisions are recognised when the Company has a present or constructive obligation as a result of past events, when it is probable (i.e. more likely
than not) that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of the
amount can be made. Provisions are reviewed at the end of each financial reporting period and adjusted to reflect the current best estimate. When the
Company expects some or all of the provision to be reimbursed, the reimbursement is recognised as a standalone asset only when the reimbursement
is virtually certain.

Where effect of the time value of money is material, the provision is the present value of the estimated expenditure required to settle the obligation.

A contingent Lability is a possible obligation that arises from past events and whose existence will only be confirmed by the occurrence of one or
more uncertain future events not wholly within the control of the Company. It can also be a present obligation arising from past events that is not
recognised because it is not probable that outflow of economic resources will be required or the amount of obligation cannot be measured reliably.

A contingent Lability is not recognised but is disclosed in the notes to the financial information. When a change in the probability of an outflow
occurs so that the outflow is probable, it will then be recognised as a provision.

A contingent asset is a probable asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of
one or more uncertain events not wholly within the control of the Company. The Company does not recognise contingent assets but discloses then
existence where inflows of economic benefits are probable, but not virtually certain.

Provisions for onerous contracts are recognised when the expected benefits to be derived by the Company from a contract are lower than the
unavoidable costs of meeting the future obLgations under the contract. Provisions for onerous contracts are measured at the present value of lower of
the expected net cost of fulfilling the contract and the expected cost of terminating the contract.

2.16 Statement of Cash Flows

Cash flows are reported using the indirect method as per Ind AS 7 - Statement of Cash Flows. The cash flows are segregated into operating, investing
and financing activities.

2.17 Segment Reporting

The Company identifies primary segments based on the dominant source, nature of risks and returns and the internal organisation and management
structure. The operating segments are the segments for which separate financial information is available and for which operating profit / loss
amounts are evaluated regularly by the Chief Operating Decision Making Body (CODM) in deciding how to allocate resources and in assessing
performance.

Disclosure under Indian Accounting Standard 108 - ''Operating Segments'' is not given as, in the opinion of the management, the entire business
activity falls under one segment viz. Investment and financing activities . The Company conducts its business only in one Geographical Segment viz.
India.

2.18 Rounding Of Amounts

All amounts disclosed in the Ind AS Financial Statements and notes have been rounded off to the nearest Lakhs as per the requirement of Schedule III
to the Act, unless otherwise stated.

2.19 Recent Accounting Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards. There are no such notifications which would
have been applicable from April 1,2025.

Terms/Rights attached to the Share Capital:

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. In the event of
liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.

Disclosure of the information related with the objectives, policies and processes of the managing capitals.

1. To augment our capital base;

2. Repay the Unsecured loan along with interest of ^ 1.98 lakhs to the Director post the completion of the Rights issue, sum estimated at as
of ^ 91.98 Lakhs.

3. General Corporate Purposes

(#) ''The Right Issue Oversight Committee of the Board in its meeting held on 22/10/2024 allotted and converted 2,76,00,920 Partly Paid-Up equity shares
having Face Value of ^ 10 each shares for receipt of First and Final Call Money of ^ 3.50 per partly paid-up shares (where ^ 2/~ will be paid towards Face
Value and ^ 1.50/- towards premium) aggregating to ^ 9,66,03,220/- of the Rights Issue Process.

(#) ''The Right Issue Oversight Committee of the Board in its meeting held on 28/03/2025 had allotted and converted 15,041 Partly Paid-Up equity shares
having Face Value of ^ 8 each shares for receipt of First and Final Call Money of ^ 3.50 per partly paid-up shares (where ^2/~ will be paid towards Face
Value and ^ 1.50/- towards premium) aggregating to ^ 55,018/- of the Rights Issue Process.

Notes: Nature and Purpose of Other Equity

1) Securities Premium Reserve -

Securities Premium Reserve is used to record the premium (amount received in excess of par value) on issue of shares. It can be utilised for limited
purposes in accordance with the provisions of Companies Act, 2013

(#) ''The Right Issue Oversight Committee of the Board in its meeting held on 22/10/2024 allotted and converted 2,76,00,920 Partly Paid-Up equity shares
having Face Value of ^ 10 each shares for receipt of First and Final Call Money of ^ 3.50 per partly paid-up shares (where ^ 2/~ will be paid towards Face
Value and ^ 1.50/- towards premium) aggregating to ^ 9,66,03,220/- of the Rights Issue Process.

2) Special Reserve (Under 45-IC of the Reserve Bank of India Act, 1934) -

Special reserve fund is the fund created as per the terms of Section 45-IC of the Reserve Bank of India, 1934 as a Statutory Reserve. A Non-Banking
Finance Reserve Fund is permitted only for the purposes specified by RBI. Company is required to transfer an amount of not less than twenty percent of
its net profit to a Reserve Fund before declaring any dividend. Appropriation from this Reserve Fund is permitted only for the purposes specified by RBI.

3) Retained Earnings-

Retained earnings represents accumulated Profits & Losses.

Note No. 39
Fair values-

The management assessed that Fair Values of Financial Assets and Liabilities are approximately their carrying values.

Note No. 40

Financial instruments - Fair values and risk management
A. Accounting classification and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair
value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

Principles for Estimating Fair Value

The following summarizes the major methods and assumptions used in estimating the fair values of financial instruments reflected in the table.

Fair Value Hierarchy-

Financial instruments carried at fair value, by valuation method at 31st March, 2025 at the different levels have been defined as follows:

Level 1:

Category includes financial assets and liabilities that are measured in whole or in significant part by reference to published quotes in an active market.

Level 2:

Category includes financial assets and liabilities measured using a valuation technique based on assumptions that are supported by prices from observable current market
transactions. These include assets and liabilities for which pricing is obtained via pricing services, but where prices have not been determined in an active market, financial assets
with fair values based on broker quotes and assets that are valued using the Company''s own valuation models whereby'' the material assumptions are market observable. The
majority'' of Company''''s over-the-counter derivatives and several other instruments not traded in active markets fall within this category''.

Level 3:

Category includes financial assets and liabilities measured using valuation techniques based on non-market observable inputs. This means that fair values are determined in whole
or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they
based on available market data. However, the fair value measurement objective remains the same, that is, to estimate an exit price from the perspective of the Company. The main
asset classes in this category are unlisted equity investments as well as unlisted funds.

The carrying amount of debt securities, other financial liabilities, loans, other financial assets, cash and cash equivalents as at 31st March, 2025 and 31st March, 2024 are considered
to the same as fair values, due to their short- term nature. These are classified as Level 3 fair value hierarchy due to inclusion of unobservable inputs including counter party credit
risk.

Note No. 41

Risk management objectives and policies
A. Financial risk management

The Company''s activities are exposed to a variety of market risk (including interest risk), credit risk and liquidity risk. The Company''s overall financial risk management policy
focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company''s financial performance.

i. Market Risk

Market rate is the risk that arises from changes in market prices, such as prices, interest rates etc. and 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 exposure within acceptable parameters, while optimising returns.

ii. 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. In order to optimise and
manage the Company''s interest rate risk,

Interest rate sensitivity - fixed rate instruments

The company''s Loans have been given on Fixed rates. Similarly, fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk as defined in
Ind AS 107, since neither the carrying amount nor the future cash flow will fluctuate because of a change in market interest rates.

Interest rate sensitivity - variable rate instruments

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased / decreased equity and profit or loss by amounts,

iii. Liquidity Risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company''s principal source of liquidity are cash and cash equivalents and the cash
flow i.e. generated from operations. The Company consistently generated strong cash flows from operations which together with the available cash and cash equivalents and
current investment provides adequate liquidity in short terms as well in the long term.

iv. Capital Risk Management

The Company manages its capital to ensure that the Company'' will be able to maintain an optimal capital structure so as to support its businesses and maximise shareholder value.

v. Foreign Currency Risk

The Company'' does not have any'' foreign currency'' exposures.

vi. Equity Price Risk

The Company''s quoted equity'' investments carry'' a risk of change in prices. To manage its price risk arising from investments in equity'' securities, the Company'' periodically''
monitors the sectors it has invested in, performance of the investee companies, measures mark-to-market gains/losses. The fair value of some of the Company''s investments
exposes the Company'' to equity'' price risk.

vii. Credit Risk

Credit risk is the risk that the Company'' will incur a loss because its Loans and receivable fail to discharge their contractual obligations. The Company'' has a framework for
monitoring credit quality'' of its Loans and receivables based on day''s past due monitoring at period end. Repay''ment by'' individual Loans and receivables are tracked regularly'' and
required steps for recovery'' are taken through follow ups and legal recourse. Credit risk arises from loans and advances, receivables, cash and cash equivalents and deposits with
banks.

Credit risk is the risk of financial loss to the Company'' if a customer or counterparty'' to a financial instrument fails to meet its contractual obligations, and arises principally'' from
the Company''s Loans and advances, receivables, cash and cash equivalents, deposits with banks and investments .

The Company'' measures the expected credit loss of Loans and receivables based on historical trend, industry'' practices and the business environment in which the entity'' operates.
Expected Credit Loss is based on actual credit loss experienced and past trends based on the historical data.

(a) Credit Risk Management

Company'' considers probability'' of default upon initial recognition of asset and whether there has been any'' significant increase in credit risk on an ongoing basis throughout each
reporting period. To assess whether there is a significant increase in credit risk Company'' compares the risk of default occurring on the asset as at the reporting date with the risk of
default as at the date of initial recognition. It considers available reasonable and supportive forward-looking information.

Definition of Default

A default on a financial asset is when the counterparty'' fails to make contractual pay''ments within 90 day''s of when they'' fall due. This definition of default is determined by''
considering the business environment in which NBFC operates and other macro-economic factors.

For Trade receivables (Loans), definition of default has been considered at 360 day''s past due after looking at the historical trend of receiving the pay''ments.

Expected Credit Loss (ECL)

The Company'' prepares its financial statements in accordance with the IND AS framework. As per the RBI notification, on acceptance of IND AS for regulatory'' reporting, the
Company'' computes provision as per IND AS 109 as well as per extant prudential norms on Income Recognition, Asset Classification and Provisioning (IRACP). Where
impairment allowance in aggregate for the Company'' under Ind AS 109 is lower than the provisioning required under IRACP (including standard asset provisioning) for the
Company'', the difference is appropriated from net profit or loss after tax, to a separate ''Impairment Reserve''. Any'' withdrawals from this reserve shall be made only'' with prior
permission from the RBI.

ECL allowances recognized in the financial statements also reflect the effect of a range of possible economic outcomes, calculated on a probability'' weighted basis, based on certain
economic scenarios. The recognition and measurement of ECL involves the use of significant judgment and estimation. Forward looking economic forecasts are used in developing
the ECL estimates. The multi-variable regression framework is used to establish a linkage between company''s default rates and various macroeconomic variables like
unemploy''ment rate, Government total expenditure, Government consumer expense, domestic credit investment, and farm reservoir levels amongst others on case to case basis.
Three scenarios sufficient to calculate unbiased ECL are used - representing the "most likely'' outcome" (the "Central" scenario) and two "less likely'' outcome" scenarios (the
"Upside" and "Downside" scenarios). Probability'' weights have been assigned to each scenario based on past patterns observed in the multi variable regression process.

Management oversees the estimation of ECL including:

(i) setting requirements in policy'', including key'' assumptions and the application of key'' judgements

(ii) the design and execution of models; and

(iii) review of ECL results.

As required by'' Ind AS 109, a ''three-stage'' model for impairment based on changes in credit quality'' since initial recognition was built as summarized below:

• A loan asset that is not credit-impaired, on initial recognition, is classified in ''Stage 1'' and has its credit risk continuously'' monitored by'' Management.

The company'' categorises loan assets as ''Stage 1'' primarily'' based on 0-30 Day''s Past Dues status.

• If a significant increase in credit risk (''SICR'') since initial recognition is identified, the loan asset is moved to ''Stage 2'' but is not y''et deemed to be
credit impaired. The company'' categorises loan assets as ''Stage 2'' primarily'' based on 31-90 Day''s Past Dues status.

• If the financial instrument is credit-impaired, the financial instrument is then moved to ''Stage 3''. (See note 1.7 for a description of how the Company''
defines credit-imp aired and default). The company'' categorises loan assets as ''Stage 3'' primarily'' based on more than 90 Day''s Past Dues status.

(Refer Note No. 35 for Stage wise gross carrying amount of loans and loss allowance provisioning).

(B) Defined Benefit Plan

In accordance with the provisions of the Payment of Gratuity Act, 1972, the Company has a defined benefit plan which provides for
gratuity payments. The plan provides a lump sum gratuity payment to eligible employees at retirement or termination of their
employment. The amounts are based on the respective employee''s last drawn salary and the years of employment with the Company.

Liabilities in respect of the gratuity plan are determined by an actuarial valuation, based upon which the Company makes annual
contributions to the Group Gratuity cum Life Assurance Schemes administered by the LIC of India, a funded defined benefit plan for
qualifying employees. Trustees administer the contributions made by the Company to the gratuity scheme.

The most recent actuarial valuation of the defined benefit obligation along with the fair valuation of the plan assets in relation to the
gratuity scheme was carried out as at 31st March, 2025. The present value of the defined benefit obligations and the related current service
cost and past service cost, were measured using the Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the details of the employee benefit obligation and the
plan assets as at balance sheet date:

(viii) Other long-term employee benefits:

Compensated absences are payable to employees at the rate of daily basic salary for each day of accumulated leave partially at the year end
and partially on death or on resignation or upon retirement. The charge towards compensated absences for the year ended 31st March,

2025 based on actuarial valuation using the projected accrued benefit method is INR 11.85 lakhs (31st March 2024 : INR 0.62 Lakh).

Note No. 47

Contingent Liabilities and Commitments

The Company does not have any Contingent Liability or Commitments as at 31st March, 2025.

Note No. 50
Segment Reporting

The company is engaged only in the business of providing financial services and accordingly there are no separate reportable segments as
per Ind AS-108 on ''Operating Segment¹.

Note No. 51

Company does not have any CSR obligation as per Section 135 of the Companies Act 2013 as the provisions governing CSR are not
applicable to the company for the current year.

Note No. 52

As required under the Companies (Audit and Auditors) Amendment Rules, 2021, read with sub-section 3 of Section 143 of the Companies
Act, 2013 which was effective from 1st April 2023, the Company has used a licensed accounting software (Tally) for maintaining its books
of account for the financial year ended March 31, 2025 which has a feature of recording audit trail (edit log) facility and the same has
operated throughout the year for all relevant transactions recorded in the software except that audit trail feature was not enabled at the
database level to log any direct data changes, wherein adequate controls have been deployed to monitor the direct data changes effected at
the data base level. Further, as required under proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, the audit trail has been
preserved by the company as per the statutory requirements for record retention.

Note No. 53

Relationship with struck off companies:-

During the year, the Company has not entered into any transaction with struck off companies.

Note No. 54

The disclosure on the following matters required under Schedule III as amended (as applicable) :

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

b) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared wilfullful defaulter by any bank or financial institution or government or any government
authority.

d) The Company has not entered into any scheme of arrangement.

e) No satisfaction of charges is pending to be filed with Registrar of companies.

f) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during
the year in the tax assessments under the Income Tax Act, 1961.

g) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or other
kind of funds) to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in
writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries;

The Company has not received any funds (which are material either individually or in the aggregate) from any person or entity, including
foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

h) Compliance relating to layers of the company is not applicable, since the Company does not have any subsidiary.

i) Company does not own any immovable property during the year.

Note No. 55

The company has not declared or paid any dividend during the year and has not proposed final dividend for the year.

N ote N o. 56

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s
classification/ disclosure.

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Mar 31, 2024

Terms/ Rights attached to the Share Capital;

The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Notes: Nature and Purpose of Other Equity

1) Securities Premium Reserve -

Securities Premium Reserve is used to record the premium (amount received in excess of par value) on issue of shares. It can be utilised for limited purposes in accordance with the provisions of Companies Act, 2013

2) Special Reserve (Under 45-IC of the Reserve Bank of India Act, 1934) -

Special reserve fund is the fund created as per the terms of Section 45-IC of the Reserve Bank of India, 1934 as a Statutory Reserve. A Non-Banking Finance Reserve Fund is permitted only for the purposes specified by RBI. Company is required to transfer an amount of not less than twenty percent of its net profit to a Reserve Fund before declaring any dividend. Appropriation from this Reserve Fund is permitted only for the purposes specified by RBI.

3) Retained Earnings-

Retained earnings represents accumulated profits / losses.

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities used in the computation of taxable profit and their carrying amounts in the financial statements for financial reporting purposes.

Note No. 26 Fair values-

The management assessed that Fair Values of Financial Assets and Liabilities are approximately their carrying values.

Note No. 27

Financial instruments - Fair values and risk management A. Accounting classification and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

Principles for Estimating Fair Value

The following summarizes the major methods and assumptions used in estimating the fair values of financial instruments reflected in the table. Fair Value Hierarchy-

Financial instruments carried at fair value, by valuation method at 31st March, 2024 at the different levels have been defined as follows:

Level 1:

Category includes financial assets and liabilities that are measured in whole or in significant part by reference to published quotes in an active market.

Level 2:

Category includes financial assets and liabilities measured using a valuation technique based on assumptions that are supported by prices from observable current market transactions. These include assets and liabilities for which pricing is obtained via pricing services, but where prices have not been determined in an active market, financial assets with fair values based on broker quotes and assets that are valued using the Company''s own valuation models whereby the material assumptions are market observable. The majority of Company''s over-the-counter derivatives and several other instruments not traded in active markets fall within this category.

Level 3:

Category includes financial assets and liabilities measured using valuation techniques based on non-market observable inputs. This means that fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. However, the fair value measurement objective remains the same, that is, to estimate an exit price from the perspective of the Company. The main asset classes in this category are unlisted equity investments as well as unlisted funds.

The carrying amount of debt securities, other financial liabilities, loans, other financial assets, cash and cash equivalents as at 31st March, 2024 and 31st March, 2023 are considered to the same as fair values, due to their short- term nature. These are classified as Level 3 fair value hierarchy due to inclusion of unobservable inputs including counter party credit risk.

Note No. 28

Risk management objectives and policies A. Financial risk management

The Company''s activities are exposed to a variety of market risk (including interest risk), credit risk and liquidity risk. The Company''s overall financial risk management policy focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company''s financial performance.

i. Market Risk

Market rate is the risk that arises from changes in market prices, such as prices, interest rates etc. and 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 exposure within acceptable parameters, while optimising returns.

ii. 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. In order to optimise and manage the Company''s interest rate risk,

Interest rate sensitivity - fixed rate instruments

The company''s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk as defined in IND AS 107, since neither the carrying amount nor the future cash flow will fluctuate because of a change in market interest rates.

Interest rate sensitivity - variable rate instruments

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased / decreased equity and profit or loss by amounts.

iii. Liquidity Risk

Liquidity risk arises from the Company''s management of working capital. It is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due.

Company''s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. The principal liabilities of the Company arise in respect of the trade and other payables. Trade and other payables are all payable within 12 months. The Company manages liquidity risk by maintaining adequate surplus, by continuously monitoring forecasts and actual cash flows.

The Company has a system of regularly forecasting cash inflows and outflows and all liquidity requirements are planned. Forecast for trade and other payables is regularly monitored to ensure timely funding. All payments are made within due dates.

The Loan taken from Director is Repayable on Demand.

The Board receives cash flow projections on a regular basis as well as information on cash balances.

iv. Capital Risk Management

The Company manages its capital to ensure that the Company will be able to maintain an optimal capital structure so as to support its businesses and maximise shareholder value.

v. The Company does not have any foreign currency exposures.

Note No. 29 Capital Management

The Company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.

The Company monitors capital using a ratio of ''net debt'' to ''equity''. For this purpose, net debt is defined as total debt, comprising loans and borrowings less cash and cash equivalents and current investments.

The Company''s net debt to equity ratio was as follows.

Note No. 32

Details of dues to Micro, Small and Medium Enterprises as per MSMED Act, 2006

Under the Micro, Small and Medium Enterprises Development Act, 2006, which came into force from 2nd October, 2006, certain disclosures are required to be made relating to such enterprises. The same has been determined to the extent such parties have been identified on the basis of information available with the company and disclosed under Note 11 : Financial Liabilities- Payables''.

Other information/disclosures relating to payments made beyond the appointed date, interest accrued and paid and cumulative interest are not applicable being Nil (Previous Year - Rs. NIL).

The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

Note No. 33

Employee Benefit obligations (A) Defined Contribution Plan

As the Company does not have 20 or more employees during the Year, The Employee''s Provident Funds and Miscellaneous Provisions Act, 1952 is not Applicable to Company. Accordingly there is no Defined Contribution Obligation during the Year.

(B) Defined Benefit Plan

In accordance with the provisions of the Payment of Gratuity Act, 1972, the Company has a defined benefit plan which provides for gratuity payments. The plan provides a lump sum gratuity payment to eligible employees at retirement or termination of their employment. The amounts are based on the respective employee''s last drawn salary and the years of employment with the Company.

Liabilities in respect of the gratuity plan are determined by an actuarial valuation, based upon which the Company makes annual contributions to the Group Gratuity cum Life Assurance Schemes administered by the LIC of India, a funded defined benefit plan for qualifying employees. Trustees adminster the contributions made by the Company to the gratuity scheme.

The most recent actuarial valuation of the defined benefit obligation along with the fair valuation of the plan assets in relation to the gratuity scheme was carried out as at 31st March, 2024. The present value of the defined benefit 85Annual Report 2022-2023 86 obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the details of the employee benefit obligation and the plan assets as at balance sheet date:

The above sensitivity analyses have been calculated to show the movement in defined benefit obligation in isolation and assuming there are no other changes in market conditions at the reporting date. In practice, generally it does not occur. When we change one variable, it affects to others. In calculating the sensitivity, project unit credit method at the end of the reporting period has been applied.

(viii) Other long-term employee benefits:

Compensated absences are payable to employees at the rate of daily basic salary for each day of accumulated leave partially at the year end and partially on death or on resignation or upon retirement. The charge towards compensated absences for the year ended 31st March, 2024 based on actuarial valuation using the projected accrued benefit method is INR 0.62 lakhs (31st March 2023 : Nil).

Note No. 37 Segment Reporting

The company is engaged only in the business of providing financial services and accordingly there are no separate reportable segments as per IND AS- 108 on ''Operating Segment''.

Note No. 38

Relationship with struck off companies:-

During the year, the Company has not entered into any transaction with struck off companies.

Note No. 39

The disclosure on the following matters required under Schedule III as amended (as applicable) :

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

b) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

d) The Company has not entered into any scheme of arrangement.

e) No satisfaction of charges is pending to be filed with Registrar of companies.

f) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

g) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or other kind of funds) to or in any other person or entity, including foreign entity (“Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

The Company has not received any funds (which are material either individually or in the aggregate) from any person or entity, including foreign entity (“Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalfofthe Funding Party (“Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Signatures to the Notes to the Financial Statements form an integral part of these Financial Statements.

Note No. 40

The company has not declared or paid any dividend during the year and has not proposed final dividend for the year.

Note No. 41

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.

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Mar 31, 2023

2.8 Provisions, contingent liabilities, contingent assets:

Provisions are recognised when the Company has a present or constructive obligation as a result of past events, when it is probable (i.e. more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of the amount can be made. Provisions are reviewed at the end of each financial reporting period and adjusted to reflect the current best estimate. When the Company expects some or all of the provision to be reimbursed, the reimbursement is recognised as a standalone asset only when the reimbursement is virtually certain.

Where effect of the time value of money is material, the provision is the present value of the estimated expenditure required to settle the obligation.

A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by the occurrence of one or more uncertain future events not wholly within the control of the Company. It can also be a present obligation arising from past events that is not recognised because it is not probable that outflow of economic resources will be required or the amount of obligation cannot be measured reliably.

A contingent liability is not recognised but is disclosed in the notes to the financial information. When a change in the probability of an outflow occurs so that the outflow is probable, it will then be recognised as a provision.

A contingent asset is a probable asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain events not wholly within the control of the Company. The Company does not recognise contingent assets but discloses their existence where inflows of economic benefits are probable, but not virtually certain.

Provisions for onerous contracts are recognised when the expected benefits to be derived by the Company from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. Provisions for onerous contracts are measured at the present value of lower of the expected net cost of fulfilling the contract and the expected cost of terminating the contract.

18. Deferred tax assets/ liabilities -

The Company has unabsorbed depreciation and carried forward losses under tax laws. The Company has not recognized deferred tax assets on brought forward business losses and unabsorbed depreciation since there is no certainty that future taxable profits against which such losses can be utilized would be available.

19. Related Party Disclosures-

Names of the related parties -

Key Management Personnel -

Mrs. Deepa Tracy - Managing Director

Mr. Manish Chaudhari - Director

Mr. Praful Seth - Company Secretary (wef 10.01.2023)

The Company does not have any transactions with related parties as per IND AS -24 ''Related Party Disclosures''.

20. Fair Values-

The management assessed that Fair Values of Financial Assets and Liabilities are approximately their carrying values.

21. Financial Instruments - Accounting Classifications and Fair Value Measurements

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

Principles for Estimating Fair Value

The following summarizes the major methods and assumptions used in estimating the fair values of financial instruments reflected in the table.

Fair Value Hierarchy-

Financial instruments carried at fair value, by valuation method at 31st March, 2022 at the different levels have been defined as follows:

Level 1:

Category includes financial assets and liabilities that are measured in whole or in significant part by reference to published quotes in an active market.

Level 2:

Category includes financial assets and liabilities measured using a valuation technique based on assumptions that are supported by prices from observable current market transactions. These include assets and liabilities for which pricing is obtained via pricing services, but where prices have not been determined in an active market, financial assets with fair values based on broker quotes and assets that are valued using the Company''s own valuation models whereby the material assumptions are market observable. The majority of Company''s over-the-counter derivatives and several other instruments not traded in active markets fall within this category.

Level 3:

Category includes financial assets and liabilities measured using valuation techniques based on non-market observable inputs. This means that fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. However, the fair value measurement objective remains the same, that is, to estimate an exit price from the perspective of the Company. The main asset classes in this category are unlisted equity investments as well as unlisted funds.

The carrying amount of debt securities, other financial liabilities, loans, other financial assets, cash and cash equivalents as at 31st March, 2022 and 31st March, 2021 are considered to the same as fair values, due to their short- term nature. These are classified as Level 3 fair value hierarchy due to inclusion of unobservable inputs including counter party credit risk.

22. Risk management objectives and policies

A. Financial risk management

The Company''s activities are exposed to a variety of market risk (including interest risk), credit risk and liquidity risk. The Company''s overall financial risk management policy focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company''s financial performance.

i. Market Risk

Market rate is the risk that arises from changes in market prices, such as prices, interest rates etc. and 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 exposure within acceptable parameters, while optimising returns.

ii. 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. In order to optimise and manage the Company''s interest rate risk,

iii. Liquidity Risk

Liquidity risk arises from the Company''s management of working capital. It is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due.

Company''s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. The principal liabilities of the Company arise in respect of the trade and other payables. Trade and other payables are all payable within 12 months. The Company manages liquidity risk by maintaining adequate surplus, by continuously monitoring forecasts and actual cash flows.

The Company has a system of regularly forecasting cash inflows and outflows and all liquidity requirements are planned. Forecast for trade and other payables is regularly monitored to ensure timely funding. All payments are made within due dates.

The Board receives cash flow projections on a regular basis as well as information on cash balances.

iv. Capital Risk Management

The Company manages its capital to ensure that the Company will be able to maintain an optimal capital structure so as to support its businesses and maximise shareholder value.

v. The Company does not have any foreign currency exposures.

been identified on the basis of information available with the company and disclosed under Note 9 :Financial Liabilities- Payables''.

Other information/disclosures relating to payments made beyond the appointed date, interest accrued and paid and cumulative interest are not applicable being Nil (Previous Year - Rs. NA).

26. Segment reporting-

The company is engaged only in the business of providing financial services and accordingly there are no separate reportable segments as per IND AS- 108 on ''Operating Segment''.

27. Relationship with struck off companies: -

During the year, the Company has not entered into any transaction with struck off companies.

28. The disclosure on the following matters required under Schedule III as amended not being relevant or applicable in case of the Company, same are not covered:

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

b) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

d) The Company has not entered into any scheme of arrangement.

e) No satisfaction of charges is pending to be filed with Registrar of companies.

f) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

g) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or other kind of funds) to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

The Company has not received any funds (which are material either individually or in the aggregate) from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Signatures to the Notes to the Financial Statements form an integral part of these Financial Statements. As per our report of even date attached

For SCA and Associates For and on behalf of the Board of Directors

Chartered Accountants (Firm Regn. No. 101174W)

Deepa Tracy Manish Chaudhari

Managing Director Director

DIN 00516615 DIN 00516641

(SHIVRATAN AGARWAL) Praful Sheth Sejal Bisra

Partner Co. Secretary Chief Financial Officer

Mem No. 104180 M. No. A6521

Mumbai, Dated : 10th May, 2023 Mumbai, Dated : 10th May, 2023

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Mar 31, 2013

A The Company has unabsorbed depreciation and carried forward losses under tax laws. In absence of virtual certainty of sufficient future taxable income, net deferred tax asset has not been recognized by way of prudence in accordance with Accounting Standard (AS - 22) "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

B The Company does not have foreign currency exposures

C In the opinion of the management the company is engaged only in the business of providing financials services and accordingly there are no separate reportable segments as per Accounting Standard-17 dealing with segment reporting.

D Related Party Disclosure:

a) Relationships:

1 Associate Concerns

Savani Transport Private Limited (till 11th May, 2012)

E Previous year figures have been regrouped/reclassified wherever necessary to conform to the current years'' presentation

Signatures to the Notes to the Financial Statements which form an integral part of the Financial Statements.

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Mar 31, 2012

A. In the opinion of the management the company is engaged only in the business of providing financials services and accordingly there are no separate reportable segments as per Accounting Standard-17 dealing with segment reporting.

B. Related Party Disclosure:

a) Relationships:

1. Associate Concerns

Savani Transport Private Limited Savani Holdings Private Limited

No amount has been provided as doubtful debts or advances/written off or written back in the year in respect of debts due from/to above related party

C. The Central Government vide notification NO. 447 (E) dated February 28, 2011, has revised the Schedule VI under the Companies Act, 1956 and the same has become applicable for the Financial Statements to be prepared for the financial year commencing on or after April 1, 2011. Accordingly, the Company has reclassified the previous year figures to conform to this year's classification. The adoption of the revised Schedule VI does not impact the recognition and measurement principles followed for the presentation of the Financial Statements.

Signatures to the Notes to the Financial Statements which form an integral part of the Financial Statements.

Notes:

1. As defined in Paragraph 2(1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column (5) above.

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Mar 31, 2011

1. Contingent Liabilities not provided for :

Current Year Previous Year

(a) Uncalled liability on partly paid shares Rs. Nil Rs. 2,625

2. The Company has unabsorbed depreciation and carried forward losses under tax laws. In absence of virtual certainty of sufficient future taxable income, net deferred tax asset has not been recognised by way of prudence in accordance with Accounting Standard (AS - 22) "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

3. In the opinion of the management, the Current Assets, Loans and Advances have been considered as good and fully recoverable.

4. In the opinion of the management the company is engaged only in the business of providing financials services and accordingly there are no separate reportable segments as per Accounting Standard-17 dealing with segment reporting.

5. Disclosures in respect of related parties as defined in Accounting Standard 18 with whom transactions have taken place during the year are given below:

A) Related parties with whom transactions have taken place during the year:

i) Associate concerns:

Savani Transport Pvt. Ltd.

Savani Holdings Pvt. Ltd.

6. Additional information pursuant to Previous to the Current Year Previous Year provisions of paragraphs 3 and 4 of Part II of Schedule Nil Nil VI to the Companies Act, 1956 to the extent applicable.

7. Previous years' figures have been regrouped / reclassified, wherever necessary.

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Mar 31, 2010

1. Contingent Liabilities not provided for :

Current Year Previous Year

(a) Uncalled liability on partly paid shares Rs. 2,625 Rs. 2,625

2. The Company has unabsorbed depreciation and carried forward losses under tax laws. In absence of virtual certainty of sufficient future taxable income, net deferred tax asset has not been recognised by way of prudence in accordance with Accounting Standard (AS - 22) "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

3. In the opinion of the management, the Current Assets, Loans and Advances have been considered as good and fully recoverable. A provision of Rs.Nil (previous year Rs.1,00,000) is made in the Accounts in accordance with the guidelines issued by the Reserve Bank of India.

4. In the opinion of the management, the company is engaged only in the business of providing financials services and accordingly there are no separate reportable segments as per Accounting Standard-17 dealing with segment reporting.

5. Disclosures in respect of related parties as defined in Accounting Standard 18 with whom transactions have taken place during the year are given below:

A) Related parties with whom transactions have taken place during the year: i) Particulars of Associate concerns: Savani Transport Pvt. Ltd.

Note : No amount has been provided on doubtful debts or advances written off other than book in the year in respect of debts due from/to above parties.

6. Additional information pursuant to Previous to the Current Year PreviousYear provisions of paragraphs 3 and 4 of Part II of Schedule Nil Nil VI to the Companies Act, 1956 to the extent applicable.

7. Previous years figures have been regrouped / reclassified, wherever necessary.