Notes to Accounts of Oneclick Logistics Ltd.

Mar 31, 2025

o Provisions, Contingent liabilities and Contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and itis probable that
an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made.
Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are
determined based on best estimate 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. Contingent liabilities are not recognised in
the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.

(ii) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares. 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, except in case of interim dividend. 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.

General Description of the Plan

The Entity operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days
salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever
is earlier. The benefit vests after five years of continuous service. In case of some employees, the Entity''s scheme is more
favourable as compared to the obligation under Payment of Gratuity Act, 1972.

37 Title deeds of Immovable Property not held in the name of the Company

The company holds all the immovable property in its name.

38 Details of Benami Property held

The company does not have any Benami property, where any proceedings have been initiated or pending against the
company for holding any benami property under The Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the
rules made thereunder.

39 Wilful Defaulter

The company is not declared as wilful defaulter by any bank or financial Institution or other lender.

40 Relationship with Struck off Companies

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

41 Registration of Charge

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

42 Compliance with number of layers of comapanies

The Company has complied with the number of layer prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on Number of Layers) Rules, 2017.

44 Undisclosed Income

The company has no such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income tax Act, 1961 (such as, search or survery or
any other relevant provision of the Income Tax Act, 1961) unless there is immunity for disclosure under any scheme.

45 Details of Crypto Currency

The company has not traded or invested in Crypto currency or Virtual Currency durning the reporting periods.

46 Capital Work-in-Progress Ageing Schedule

As there is no capital-work-in progress as on balance sheet dates, disclosure/reporting with respect to ageing of the same
is not applicable during the periods under consideration.

47 Intangible Assets under Development Ageing Schedule

As there are no Intangible assets under development as on balance sheet dates, disclosure/reporting with respect to
ageing of the same is not applicable during the period under consideration

48 Scheme of arrangements

There is no Scheme of arrangements approved by the Competent Authority in terms of section 230 to 237 of the
Companies Act, 2013.

49 Utilisation of Borrowed funds and share premium

The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) 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.

The company has not Received any fund from any person(s) or entity(ies),including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the company shall: 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 (Ulitimate
Beneficiaries) or ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

50 Revaluation of PPE and Intangible assets

The Company has not revalued its Property, Plant and Equipment and Intangible Asstes during the reporting period. The
disclose as to whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the
Companies ( Registered Valuers and Valuation) Rules, 2017 is not applicable.

51 Audit Trails and Backup of Books and Papers

The company has used accounting software for maintaining its books of accounts for the financial period ending March
31, 2025 which has a feature of recording audit trail (Edit log) Facility. The Company has operated the said facility.

52 Regrouping/ Reclassification

Previous year''s figures have been regrouped/rearranged wherever necessary to make them compareable with current
year figures.

53 Trade Receivable, Trade Payable, borrowings, Loan & Advance and Deposits

Balance of Trade Receivable, Trade Payable, Borrowings, Loan & Advance and Deposits are subject to confirmation.

54 Security of Current Assets Against Borrowings

The Company has not filed quarterly returns/statements of current assets with banks during the year. Accordingly, the
question of reconciliation of such statements with books of account does not arise.

As per our report of even date

For RATAN CHANDAK & CO LLP For and on behalf of the Board of

Chartered Accountants OneClick Logistics India Limited

Firm''s Registration No. 108696W/W101028

Sd/- Sd/- Sd/- Sd/-

CA Jagadish Sate Rajan Shivram Mahesh Ashish Nayak

Partner Whole Time Managing Company

Membership No. 182935 07946637 07946644 AMIPN0609C

UDIN: 25182935BMIIAO4788

Place: Navi Mumbai Place: Mumbai

Date: 29/05/2025 Date:29/05/2025

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Mar 31, 2024

2.9 PROVISIONS AND 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 are liable estimates can be made.
Provision are not discounted to their present value and are determined based on
the best estimates at the Balance Sheet date.

2.10 IMPAIRMENT OF ASSETS

The carrying value of assets / cash generating unit at each Balance Sheet date
are reviewed for impairment If any indication of Impairment exists, the
recoverable amount of such assets is estimated and impairment is recognised. If
the carrying amount of these assets exceeds their recoverable amount. The
recoverable amount is the greater of the net selling price and their value in use.
Value in use is arrived at by discounting the future cash flows to their present
value based on an appropriate discount factor. When there is indication that an
impairment loss recognised for an asset in earlier accounting periods no longer
exists or may have decreased, such reversal of impairment loss is recognised in
the Statement of Profit and Loss, except in case of revalued assets.

2.11 TAXES ON INCOME

Current tax is the amount of tax payable on the taxable income for the
year as determined in accordance with the provisions of Income Tax Act,
1961. Deferred tax is recognised, on timing differences, being the difference
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 in respect of depreciation is recognised if there is virtual
certainty that there will be sufficient future taxable income available.

* The Company has trade receivables of Rs.30.61 lakhs from Export Debtors which is receivable in US$ 0.34
lakhs, GBP£ 0.00Lakhs# & SG$ 0.03 lakhs, and considered doubtful as the same is outstanding for more than
12 Months. As per the Foreign Exchange Management Act, 1999, the Company need to apply for extension to
Reserve Bank of India ("RBI") for receipt of foreign exchange from Export Debtors if same is not received
within 9 months from the date of invoice. As the debt is receivable in US$, the writing off of the debt also needs
approval from RBI. The Company has not applied to RBI for the approval for writing off the debt. This might
attract penalty under Foreign Exchange Management Act, 1999.

# Represents value less than 0.01 lakhs.

9 Acquisition of Business

During the previous year Company has acquired One Click logistics LLP as per Business Transfer Agreement
vide dated 10 February 2023.

36 Benami Transactions

The Company does not hold any Benami Property as defined under Benami Transactions (Prohibition) Act (45) of 1988 and rules made thereunder.

37 Transactions with struck off Companies

The Company does not have any transactions with companies struck off under section 248 of Companies Act 2013 or Section 560 of Companies Act
1956, during the financial year ending 31 st March 2024.

38 Restriction on number of layers

The Company has complied with the number of layer prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on Number of
Layers) Rules, 2017.

39 Undisclosed Income

The Company does not have any undisclosed income during the financial year ended 31 March 2024.

40 Crypto/Virtual
Currency

The Company does not traded or invested in Crypto Currency or Virtual Currency during the financial year ended 31 March 2024 and 31 March 2023.

41 Code on Social Security, 2020

The Indian Parliament has approved the Code on Social Security, 2020 which subsumes the Provident Fund and the Gratuity Act and the Rules
thereunder. The Ministry of Labour and Employment has also released draft rules thereunder on 13 November 2020, and has invited suggestions from the
stakeholders which are under active consideration by the Ministry. The Companywill evaluate the rules, assess the impact, if any, and account the same
once the rules are notified and become effective.

42 Utilization of borrowed funds and share premium

(a) No funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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.

(b) No funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity
(“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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.

43 Previous year figures

The figures of previous years have been re-grouped and re-arranged wherever necessary.

SIGNATURE FOR NOTES 1 TO 43

For JMR & Associates LLP For and on Behalf of the Board

Chartered Accountants Oneclick Logistics India Limited

Firm Registration No. 106912W / W100300

Rajan Shivram Mahesh Liladhar Bhawna

CA. Mayur Chheda

Mote Bhanushali Hundlani

(Whole Time Company

Director and CFO) ^{(Managing Director)} Secreta^

Partner

Membership No : 127384 DIN No 07946637 DIN No 07946644 M No.72641

Place : Mumbai Place : Mumbai

Date: 29 May, 2024 Date: 29 May, 2024