Notes to Accounts of Panabyte Technologies Ltd.

Mar 31, 2024

19 Provisions, Contingent Liabilities and Contingent Assets.

Provisions are recognised only when:

a) The Company has a present obligation (legal or Constructive) as a result of a past event;

b) It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and

c) A reliable estimate can be made of the amount of the obligation.

Provision is measured using the cash flows estimated to settle the present obligation and when the effect of time value of
money is material, the carrying amount of the provision is discounted to the present value of those cash flows. Reimbursement
expected in respect of expenditure required to settle a provision is recognised only when it is virtually certain that the
reimbursement will be received.

Contingent liability is disclosed in case of:

a) A present obligation arising from past events, when it is not probable that an outflow of resources will be required to
settle the obligation; and

b) A present obligation arising from past events, when no reliable estimate is possible.

Contingent assets are disclosed where an inflow of economic benefits is probable.

Provisions, contingent liabilities and contingent assets are reviewed at each Reporting date. Where the unavoidable costs of
meeting the obligations under the contract exceed the economic benefits expected to be received under such contract, the
present obligation under the contract is recognised and measured as a provision.

20 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow
from operating activities is reported using indirect method, adjusting the net profit for the effects of:

a) Changes during the period in inventories and operating receivables and payables transactions of a non-cash nature;

b) Non-cash items such as depreciation, provisions, and deferred taxes, and;

c) All other items for which the cash effects are investing or financing cash flows.

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are no1
available for general use as on the date of Balance Sheet.

21 Earnings Per Share

Basic and Diluted earnings per share is calculated by dividing net profit or loss for the period attributable to equity shareholders
and weighted average number of shares outstanding during the period.

There are no potential equity shares in the books, and therefore diluted earnings per share are same as basic earnings per

B Accounting Transactions

1 None of the employees were in receipt of or are entitled to receive remuneration aggregating to not less than Rs.1,02,00,000/-
for the year or not less than Rs.8,50,000/- per month, if employed for part of the year.

2 Outstanding balances as at 31st March, 2024 of Current & Non-Current Assets and Liabilities including Trade Receivables and
Trade Payables are subject to confirmation.

3 In the opinion of the Board of Directors, the Company is dealing in different varieties of Consumer Electronic & Electrical Goods
& IT Hardware & its peripherals. Day to day Quantitative Stock Records have been maintained properly.

4 All the Directors have drawn remuneration for the Accounting Year 2023-24 aggregating to Rs. 24,00,000/-
C Recent Accounting & Reporting Framework Pronouncements

a) Amendments to Existing Standards

Ministry of Corporate Affairs has carried out amendments of the following accounting standards:

1) Ind AS 103 - Business Combination

2) Ind AS 16 - Property, Plant & Equipment

3) Ind AS 37 - Provisions, Contingent Liabilities & Contingent Assets

4) Ind AS 107 & Ind AS 109 - Financial Instruments

The Company is in the process of evaluating the impact of the new amendments issued but n ot yet effective.

D Previous Year''s Figures have been regrouped / reclassified wherever necessary

f. Capital Management

The Company adheres to a disciplined Capital Management Framework in order to safeguard it''s ability to continue as a going concern,
so that it can continue to provide returns for shareholders and benefits to other stakeholders.

The Company strategically manages its funds by :-

(i) Maintaining Diversity of Sources of Financing and spreading the maturity across periods in order to minimise liquidity risk.

(ii) Analysing and managing its financial market risks like foreign exchange, interest rates and commodity prices, and minimise the impact
or market volatility on earnings.

(iii) Analysing the changes in macro economic factors affecting business environment and re-organising its capital structure accordingly to
adapt to the ever changing dynamics of business environment.

(iv) Leveraging Optimally in order to maximise shareholder returns.

Notes:

1 Guranteed Emergency Credit Line (GECL) of Rs 35,00,000 (Sanction Amount) was sanctioned on 24.06.2020 and is secured by
way of hypothecation of Stocks and Book Debts. The Balance as on 31st March, 2024 is repayable in 3 monthly installments with
interest. Interest to be serviced as and when debited.

2 Guaranteed Emergency Credit Line (GECL) of Rs 23,00,000 (Sanction Amount) was sanctioned on 11th November, 2021 and is
secured by way of hypothecation of Stocks and Book Debts. The Balance as on 31st March, 2024 is repayable in 32 monthly
installments with interest. Interest to be serviced as and when debited.

(a) Recognition of Revenue

The company derives revenue primarily from sale of Consumer Electronic & Electrical Goods and IT Hardware & its
peripherals. Revenue from services includes Installations as well as Maintenance of Surveillance and Biometric systems.

Revenue is recognised upon transfer of control of promised products or services to the customers in an amount that reflects
the consideration the company expects to be entitled to, in exchange for those products or services.

Revenue from fixed-price, fixed-time frame contracts, where the performance obligations are satisfied over time and where
there is no uncertainty as to measurement or collectability of consideration, is recognised as per the percentage of completion
method. When there is uncertainty as to the measurement of ultimate collectability, revenue recognition is postponed until such
uncertainty is resolved. Maintenance revenue is recognized over the term of underlying maintenance agreement whereas
revenue from Installation services are recognised immediately as there is no uncertainty as to collectibility of the consideration.

The Company accounts for volume discounts and pricing incentives to customers as a reduction of revenue based on
allocation of discounts/ incentives to each of the underlying performance obligations that corresponds to the progress by the
customer towards earning the discount/ incentive. The company presents revenue net of Indirect Taxes.

The company''s Board of Directors has overall responsibility for establishment and oversight of the Company''s risk management
fram ework.

The Company, through three layers of defense viz: policies & procedures, review mechanism and assurance, aims to maintain a
disciplined and constructive control environment in which all employees understand their roles and obligations. The audit committee
oversees the formulation and implementation of Risk Management Policies. The risk and mitigation plan are identified, deliberated
and reviewed at appropriate Forums.

A. Market Risk Management

Market Risk is the risk that changes in market prices-such as foreign exchange rates-will affect the company''s income or the value
of Financial Instruments. The objective of Market Risk Management is to manage and control market risk exposure within acceptable
parameters, while optimizing the return.

i. Foreign Exchange Risk

Foreign Currency Risk is the risk that the Fair Value or Future Cash Flows of an exposure will fluctuate because of changes in
foreign currency rates. Exposures can arise on account of the various assets and liabilities which are denominated in currencies
other than the functional currency of the Company.

In General, the company has not entered in any foreign currency transaction.

Sensitivity Analysis

Since, The Company does not have any balanced payable or receivable in foreign currency Hence, The Company remain
unaffected by movements in foreign exchange rates.

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.

The Company''s exposure to changes in interest rates relates primarily to the Company''s Overdraft CC Account. The company''s
total outstanding debt in local currency presented in the Financial Statements are floating rate Debts. For the portion of local
currency debt on fixed rate basis, there is no interest rate risk. Floating Rate Debts are linked to domestic interest rate benchmarks
issued by Reserve Bank of India like MCLR (Marginal Cost of funds based Lending Rate) and RLLR (Repo Linked Lending Rate).

i. Credit Risk

Credit Risk is the Risk of Financial Loss to the company if a customer or counter party to a financial instrument fails to meet its
contractual obligations and arises principally from the Company''s receivables from customers and other receivables.

Trade Receivable and other financial assets

The company has established a credit policy under which each new customer is analysed individually for creditworthiness before
entering into the contract, delivery terms and conditions of payments. The company''s review includes external ratings (if they are
available), financial statements, industry information and business intelligence.

In monitoring customer credit risk, customers are grouped according to their credit characteristics, including whether they are an
individual or a legal entity, their geographic location, industry, trade history with the Company and existence of previous financial
diffic ulties .

Expected Credit loss for Trade Receivables:

The Company, based on internal assessment which is driven by the historical experience/current facts available in relation to
defaults and delays in collection thereof, the company is making provision on trade receivables based on Expected Credit
Loss(ECL) model. The reconciliation of ECL is as follows :-

ii. Liquidity Risk

Liquidity Risk is the risk that the company will encounter difficulty in meeting the obligations associated with its financial liabilities that
are settled by cash or another financial asset. The Company manages liquidity risk by maintaining sufficient cash and marketable
securities and by having access to funding through an adequate amount of committed credit lines. Management regularly monitors
the position of cash and cash equivalents vis-a-vis projections. Assessment of maturity profiles of financial assets and financial
liabilities including debt financing plans and maintenance of Balance Sheet liquidity ratios are considered while reviewing the liquidity
position.

The Company''s Finance Department is responsible for managing the short term and long term liquidity requirements. Short term
liquidity finance is reviewed daily by finance department. Long Term Liquidity position is reviewed on a regular basis by the board of
directors and appropriate decisions are taken according to the situation.

LEASES

A. Classification & Measurement

Leases under which the Company assumes substantially all the risks and rewards of ownership are classified as Finance Leases.
When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of lease,
whichever is lower. Lease payments under operating leases are recognized as expense on a straight line basis in net profit in the
Statement of Profit and Loss over the lease term.

Where the Company is a Lessee

This note explains the impact of the Application of ind AS 116 Leases on the company''s financial statements.

The company has determined the lease term as the non-cancellable period of a lease adjusted with any option to extend or
terminate the lease, if the use of such option is reasonably certain after making an assessment on the expected lease term on a
lease-by-lease basis and thereby assessing whether it is reasonably certain that any options to extend or terminate the contract will
be exercised. In evaluating the lease term, the Company considers factors such as any significant leasehold improvements
undertaken over the lease term, costs relating to the termination of the lease and the importance of the underlying asset to
company''s operations taking into account the location of the underlying asset and the availability of suitable alternatives. The lease
term in future periods is reassessed to ensure that the lease term reflects the current economic circumstances.

Practical Expedients Applied

In applying Ind AS 116, the company has used the following practical expedients permitted by the standard:

1) accounting for operating leases with a remaining lease term of less than 12 months, as short-term leases

2) excluding initial direct costs for the measurement of the right-of-use asset at the date of initial application, and

3) using hindsight in determining the lease term where the contract contains options to extend or terminate the lease.

4) applying a single discount rate to a portfolio of leases with reasonably similar characteristics.

NOTE NO. 47

Details of Benami Property held

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

NOTE NO. 48

Disclosure relating to company being declared as Wilful defaulter

The company has not been declared as wilful defaulter by any Banks or Financial Institution or other lender.

NOTE NO. 49

Transactions with Struck-off Companies

There were no transactions with any struck-off companies during the year.

NOTE NO. 50

Disclosure relating to Registration of charge or Satisfaction with ROC beyond Statutory period

All the Charges (be it Fixed or Floating Charge created on the assets of the Company by way of Cash credit and Term
loans) have been registered with ROC within statutory period.

NOTE NO. 51

Disclosure relating to complaince with number of layers of companies

The company has complied with the number of layers prescribed under clause (87) of section 2 of Companies Act, 2013.

Reasons for huge variance :

1 The profitability ratios like Return on Equity, Net Profit Ratio and Return on Capital Employed have been adverse during the
year due to operating losses incurred by the Company on account of low margins of goods sold by the company. Further
losses due to short claim receipt from Insurance claim being exeptional item in profit & Loss has adversly affected ratios.

NOTE NO. 53

Note on Undisclosed Income If any

The Company does not have any transaction 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 survey or any other
relevant provisions of the Income Tax Act, 1961). Also none of the previously unrecorded income and related assets have
been recorded in the books of account during the year.

NOTE NO. 54

Disclosure relating to Complaince with approved scheme of Arrangements

The Company has not applied for any arrangements to any Competent Authority in terms of section 230 to 237 of the
Companies Act, 2013.

1 No funds 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 any other person or entities, including foreign entities (“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.

2 No funds have been received by the Company from any person or entity, including foreign entities (“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.

AS PER OUR REPORT OF EVEN DATE FOR AND ON BEHALF OF BOARD OF DIRECTORS

FOR KPB & ASSOCIATES PANABYTE TECHNOLOGIES LIMITED

CHARTERED ACCOUNTANTS
[ICAI FRNo. 114841W]

MR. PRAKASH M. VICHHIVORA MR.HETAL M. VICHHIVORA

CA KETAN N. GADA CHAIRMAN & MANAGING DIRECTOR WHOLE TIME DIRECTOR

PARTNER DIN NO:- 03123043 DIN NO:- 03123060

(MEM NO. 106451)

MS. HARSHADA MOHITE MR. SUBHASH N. KANOJIA

COMPANY SECRETARY & COMPLIANCE OFFICER CFO

PLACE: MUMBAI

DATED: 21/05/2024 PLACE: MUMBAI

UDIN: 24106451BKBPBF5872 DATED: 21/05/2024

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Mar 31, 2014

1. None of the Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

5. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

6. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

7. Contingent Liabilities

Contingent Liabilities not provided for - Nil

8. Particulars of Director''s Remuneration (In Rupees) Rs.75,000 has been paid to Managing Director as Remuneration for the Year apart from Directors sitting fees. (P.Y. Rs. Nil)

9. Related Party Transactions

Key Management Personnel - Mr. Ramrati Chowdhury - Managing Director Subsidiary & Group Companies or Companies under same management - Not Any.

Details of transactions with related parties - Rs. 75,000 (P.Y.Rs.Nil) has been paid to Managing Director as Managerial Remuneration

10. Sundry Debtors and creditors are subject to confirmation and reconciliation.

11. There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2014. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

12. Previous years'' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.

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Mar 31, 2013

1. None of the Raw Materials, Stores Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances arc approximately of the value seated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary,

5. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

6. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realised in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

7. Contingent Liabilities

Contingent Liabilities not provided for Nil

8. Particulars of Director's Remuneration (In Rupees)

Rs. Nil has been paid to Directors as Remuneration for the Year apart from Directors sitting fees. (P.Y. Rs. Nil)

9. Related Party Transactions

Key Management Personnel — Mr. Rajnish Parolia - Director - Not Any

Subsidiary & Group Companies or Companies under same management — Not Any

Details of transactions related parties - Rs. NIL (P.Y, Rs. NIL)

10. Deffered Tax on Depreciation;

Deffered Tax Liability (Net) for the year ended 31st March 2013 amounts to Rs. NIL (P.Y. Rs. 51.47)

11. Sundry Debtors and creditors arc subject to confirmation and reconciliation,

12. There arc no Micro and Small Scale business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

13. Information pursuant to provisions of paragraph 3,4(C) and 4(D) of Part 11 of Schedule VI of the Companies Act, 1956 to the extern applicable is as under

14. Previous years' figures have been regrouped, rearranged wherever necessary to make them comparable wiih those of current year.

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Mar 31, 2012

1 None of the Raw Materials, Stores, Spares anti Components consumed or purchased during the year have been imported.

2 None of the Earnings / Expenditures is in foreign Currency.

3 Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation,

4. In die opinion of the Board, the Current Assets, Loans & Advances ate approximately of tire value stated if realised in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary, investments of the Company have been considered by the management to of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

b. in die opinion of die Board, Current Assets, Loans and Advances are approximately of the value stale, if Realized m the ordinary course of business. Pro for all known liabilities are adequate and not in excess of the a considered necessary for die same.

5. Contingent Liabilities

Contingent. liabilities not provided for - Nil

6. Particulars of Director''s Remuneration (I n Rupees) Rs Nil has been paid to Directors as Remuneration for the Year apart from Directors siuing fees, (PY,Rs Nil)

7 Related party Trasactions

Key Management Personnel - Mr. Rajnish Parolia - Director Not Any

Subsidiaiy & Group Companies or Companies under same management — Not Any. Details of transacnons with related parties - Rs. Nil (P.Y. Rs. Nil,)

8, Deffered Tax on Depreciation

Deffered Tax Liability (Net) for the year ended 31* March 2012 amounts to Rs, Nil, (P,Y. Rs, 51.47)

9. Sundry Debtors and creditors me subject to confirmation and reconciliation.

10. I here are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information as required to be disclosed under Micro, Small and Medium Entepreises Development Act, 2006 has been detemmned to the extern such parties have been identified on the basis of information available with the Company

11. Information purs wine to provisions of paragraph 3.4(C) anti 4(D) of Part II of Schedule VI of the Companies Act, 1956 to the extent applicable is as under:

12. Previous years'' figures have been regrouped, rearranged wherever necessary to malic them comparable with those of current year.