Notes to Accounts of Osel Devices Ltd.

Mar 31, 2025

1.15 Provisions and Contingencies

A provision is recognised when the Company has a present obligation as a result of past events, for which it is
probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made of
the amount of the obligation. Provisions require to settle are reviewed at each Balance Sheet date and are adjusted
to reflect the current best estimate of the obligation. A disclosure of contingent liability is made when there is a
possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable
estimate of obligation cannot be made.

1.16 IPO Expenses

The costs of an equity transaction are accounted for as a deduction from equity (Reserve & Surplus, The IPO Expenses
has been adjusted with Securities premium)". Raising additional equity through the offering and issuance of new
shares is an equity transaction for this purpose. The cost attributable to the offer of new shares are deducted from
equity.

2. Notes to the Account

2.1 Financial Statement has been prepared for the period starting from 1st April 2024 to 31st March 2025 and previous
period''s figures have been regrouped and rearranged as and when deemed necessary.

2.2 Fixed Assets has been verified by the management at regular interval. Fixed assets has been valued at Historical cost
less depreciation and Impairment of Assets.

2.3 In the opinion of the Management, Current Assets, Loans and Advances have a value on realization in the ordinary
course of business at least equal to the amount at which they are stated.

2.4 Value of Services & Expenses imported: 3196.5460963

2.5 F. O. B. value of services exported: 0.17763

2.6 Earnings, Expenditures and remittance on account of dividend in foreign currency: Nil.

2.7 Provision for Deferred tax Assets/Liability has been made, the major components of deferred tax and liabilities are as
follows:-

2.11 Contingent Liability

The Company does not have any contingent liabilities so far to the knowledge of the board. Other than;

GST - Kerala has filed an Appeal against the order of Hight Court in favour of the company. -
DVAT - Appeal has been filed and the proceedings is yet to be finalised.

GST - Uttar Pradesh, The company has deposited a sum of Rs. 2,99,78,317.00 against DRC - 03, Proceeding is in
progress, decision is pending as on date. And The Company has issued the Demand Draft a sum of Rs 1,00,00,500
against Custom duty and Proceeding is pending as on date.

The Company has not made any provision for liabilities against the sum deposited, as mentioned above.

2.12 Disclosures as per Micro, Small and Medium Enterprises Development Act, 2006 (MSMED).

Based on Information available, with the company, there are dues of 154.97006 to micro and small enterprises as
defined in Micro, Small and Medium Enterprises Development Act, 2006 as at 31st March 2025.

2.14 There is no pending litigation against the Company.

2.15 Investor Complaints

The Company has received 6 Complaint from the investor during the IPO allotment and the same has been resolved.

2.16 Employee Benefit

The company has made contribution to Employee Provident Fund and Employee State Insurance Corporation at
regular intervals and Provision for Gratuity has been recognised in the books of accounts for the year 2024-2025. No
Provision for leave encashement made during the year.

For Kumar Samantaray & Associates For and on behalf of the Board of Directors of

(Chartered Accountants) OSEL Devices Limited

Firm Registration Number:-020310N

Sd/- Sd/- Sd/-

Rajesh Kumar Rajendra Ravi S. Mishra Jyotsna Jawahar

Partner Managing Director Whole-time Director & CFO

Membership Number:-504344 DIN:- 01628136 DIN: 08278091

UDIN :25504344BMIPPW2266 Sd/-

Peer Review Certificate No. 016337 Diksha

Date : 26.05.2025 Company Secretary

Place : New Delhi M. No. A72889