Notes to Accounts of Pearl Green Clubs and Resorts Ltd.

Mar 31, 2025

(a) Contingent liabilities

- Outstanding Bank Guarantees - -

- Claim received but not acknowledged by the Company - -

(b) Estimated amount of contracts remaining to be executed on capital account and not provided for - -

(net of advances)

(c) The Company has commitments for services, purchase of goods and employee benefits, in normal course of business. - -

The Company does not have any long-term commitments/contracts including derivative contracts for which there will be

any material foreseeable losses.

28 Balances appearing under loans & advances, trade receivables, trade payables, current assets and current liabilities are subject to confirmation in certain cases.

29 The Company had opted for taxation as per section 115BAA of the Income Tax Act, 1961 and has calculated the tax @22% plus surcharge @10% and cess of 4%. The
effective tax rate being 25.168% for the financial year.

30 Consequent to the Accounting Standard (AS) 22 - “Accounting for Taxes on Income” issued by The Institute of Chartered Accountants of India being mandatory, the
Company has recorded the effects for deferred taxes.

- Principal amount due to suppliers registered under the MSMED Act and remaining unpaid as at year end. - -

- Interest due to suppliers registered under the MSMED Act and remaining unpaid as at year end. - -

- Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed day during the year. - -

- Interest paid by the Company in terms of Section 16 of MSMED Act, 2006, along with the amount of the payment made to
the suppliers and service providers beyond the appointed day during the year.

- Interest paid, under Section 16 of MSMED Act, to suppliers registered under the MSMED Act, beyond the appointed day
during the year.

- Interest paid, other than under Section 16 of MSMED Act, to suppliers registered under the MSMED Act, beyond the
appointed day during the year.

- Amount of interest due and payable for the year of delay in making payment (which have been paid but beyond the
appointed day during the year) but without adding the interest specified under the MSMED Act.

- Interest accrued and remaining unpaid as at the end of year. - -

- Amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues

above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of - -

the MSMED Act.

# The above disclosure 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.

33 During the year, the Company has conducted physical verification of its property, plant and equipment in order to ensure their location, existence and assess their working
condition. No discrepancies have been reported during such verification.

34 The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and postemployment received Presidential assent on 28th September 2020 and
has been published in the Gazette of India. However, the date on which the provisions of the Code will come into effect has not been notified. Further, related Schemes and
Rules are also awaited. The Company will evaluate the impact of the code after it has been notified.

35 In opinion of the Board, the loans & advances and other current assets have a value, which if realized in the ordinary course of business, will not be less than the value stated
in the Balance Sheet.

36 Additional regulatory information

(i) There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time
to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) 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). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the
books of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31, 2025. Further, the Company has also not received any deposits or advances from any
person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) 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 or entity, 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/entities identified in any other
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.

(vii The Company has not been sanctioned working capital limits from banks or financial institutions during any point of time of the year on the basis of security of current assets.

(viii The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies
beyond the specified layers.

(ix) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current
year.

(x) There are no transactions / relationship with struck off companies.

37 Previous year amounts have been regrouped and/or reclassified wherever necessary to confirm to those of the current year grouping and/or classification.
This is the summary of significant accounting policies and other explanatory information referred to in our report of even date.

For KPSJ & ASSOCIATES LLP

Chartered Accountants For and on behalf of the Board of Directors of

Firm Registration No.: 124845W / W100209 Pearl Green Clubs and Resorts Limited

SD/- SD/- SD/-

Prakash Parakh Sanju Vishal Sharma

Partner Whole-time director Director

Membership No.: 039946 DIN:10648601 DIN:10727395

UDIN: 25039946BMIFBD1823 Place: Ahemdabad Place: Ahemdabad

Place: Ahemdabad Date: May 28, 2025 Date: May 28, 2025

Date: May 28, 2025

SD/-

Bhumikaben Variya

Company Secretary
Membership No.: A64912
Place: Surat
Date: May 28, 2025

---

Mar 31, 2024

11. The company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The Company has created an Employees'' Group Gratuity Fund which has taken a Group Gratuity Assurance Scheme with the Life Insurance Corporation of India. Company''s contributions are based on actuarial valuation arrived at the end of each year and charged to Profit and Loss Statement. An amount of Rs. Nil paid on this account during the year is charged to the Profit & Loss Statement. Defined benefit plans as per actuarial valuation is

13. Previous year''s figures have been regrouped or reclassified wherever necessary to conform to the current period.

14. The Company''s operation predominantly relate to providing a single segment of software related technical services to enable clients to enhance business performance. Geographic segmentation is based on business sourced from India only and hence segment reporting in this case is not applicable.

15. DISCLOSURE UNDER MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

On the basis of the information and records available with the Company, the Company had not paid any interest during the year to any parties who are classified as Micro, Small and Medium Enterprises on account of default in payment of their dues. Also there are no amounts outstanding as on 31.03.2024 in excess of Rs.l,00,000/- to any party classified as Micro, Small and Medium Enterprises.

16. ADDITIONAL REGULATORY DISCLOSURES AS PER SCHEDULE III OF COMPANIES ACT, 2013

(i) The Company does not own any Immovable properly.

(II) The Company does not have any Investment property.

(III) As per the Company''s accounting policy, Property, Plant and Equipment (Including Right of Use Assets) and Intangible assets are carried at historical cost (less accumulated depreciation & Impairment, If any), hence the revaluation-related disclosures as per Additional Regulatory Information of Schedule III (revised) to the Companies Act, is not applicable.

(iv) The Company has not granted any Loans or Advances in the nature of loans to promoters, Directors, KMPs, and the related parties (As per Companies Act, 2013), which are repayable on demand or without specifying any terms or period of repayments.

(v) No 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.

(vi) The Company does not have any sanctioned facilities from banks based on the security of current assets.

(vii) The Company has adhered to debt repayment and interest service obligations on time. Wilful defaulter-related disclosures required as per Additional Regulatory Information of Schedule III (revised) to the Companies Act, is not applicable.

(viii) There are no transactions with the Companies whose names are struck off under Section 248 of The Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year ended March 31, 2024.

(ix) The Company does not have any requirement for filing registration or satisfaction of charges with the Registrar of Companies. No registration or satisfaction is pending at the year ended 31st March 2024.

(x) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

(xi) The National Company Law Tribunal, Special Bench- I, Chennai Bench vide its order dated 31.05.2023 approved the Scheme of Reduction of Capital by which 68% of the paid-up equity share capital by reducing the nominal value of the equity shares from Rs.10/- each to Rs.3.20 each by canceling the equity share capital of Rs.6.80 per Equity share and that such reduced Subscribed, Issued and Paid-up share capital of Rs.3,02,33,710/- divided into 94,48,035 equity shares of Rs.3.20 shall be consolidated Into 30,23,371 equity shares of Rs/10/- each in such manner that every 100 equity shares of Rs.3.20 each shall constitute 32 equity shares of Rs.10/-each fully paid-up.

As per the Scheme of Reduction of Capital sanctioned by the NCLT, Rs. 6,42,46,640/- out of the Equity Share Capital is transferred to the Profit and Loss Account and set off the accumulated Losses to this extent during the year.

(xii) The Company has not advanced or loaned or Invested funds to any other person(s) or entity(les), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a. 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

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

(xiil) 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:

a. directly or indirectly lend or Invest In other persons or entitles identified In any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

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

(xiv) The Company has not operated In any cryptocurrency or Virtual Currency transactions.

(xv) During the year the Company has not disclosed or surrendered, any income other than the Income recognized In the books of accounts In the tax assessments under the Income Tax Act,

1961.

1. The Income from operations during 2023-24 has come down by 20% as compared to the previous year. This has affected all the operating ratios during 2023-24 as compared to the previous year.

2. Figures in brackets indicate negative figures.