Notes to Accounts of Softrak Venture Investment Ltd.

Mar 31, 2025

(b) Terms/rights attached to equity shares:

The Company has only one class of equity shares having par value of '' 10 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Carrying amounts ofcash and cash equivalents,trade receivables, investments, unbilled revenues, loans, trade payables and other payables as at March 31,2022 and March 31,2021 approximate the fair value because of their short-term nature. Difference between carrying amounts and fair values of bank deposits, other financial assets, other financial liabilities and borrowings subsequently measured at amortised cost is not significant in each of the years presented.

31.2 Financial Instrument measured at amortised cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

31.4 Capital management

For the purposes of the company''s capital management, capital includes issued capital and all other equity reserves. The primary objective of the company''s capital management is to maximize shareholder value. The company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

35 Segment information

The Company is primarily engaged in one business segment, namely developing Electronic Manufacturing Cluster as determined by chief operational decision maker, in accordance with Ind AS -108 "Segment Reporting".

Considering the inter relationship of various activities of the business, the chief operational decision maker monitors the operating results of its business segment on overall basis. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the financial statements.

36 Disclosures as required by Ind AS - 19 Employee Benefits

i. Short-term employee benefits : Employee benefits payable wholly within twelve months of receiving employee services are classified as short-term employee benefits. These benefits include salaries and wages, performance incentives and compensated absences which are expected to occur in next twelve months. The undiscounted amount of short-term employee benefits to be paid in exchange for employee services is recognized as an expense as the related service is rendered by employees.

ii. Post-employment benefits : Defined benefit plans - Provident fund Provisions of EPF are not applicable to the company as it does not fall under the implication requirements of the act i.e. number of employees does not exceed the ceiling limit. Thus, there is no contribution by the company towards post employment benefits.

All the key managerial person, other than Independent Directors of the Company are in the employment with other group companies and are paid remuneration by the respective group companies.

3 5 The Company is engaged in the business of development of SEZ and has been approved as a co-developer from the Ministry of Commerce and Industry, Department of Commerce, Government of

36 As at March 31, 2020, the Company has incurred net loss of '' 12,719.70 lacs (Previous year '' 11,728.89 lacs) and has accumulated losses of '' 40,069.31 lacs (Previous year '' 27,349.61 lacs) which has

37 Impact of COVID-19

In the last week of March 2020, an outbreak situation arose in India on account of COVID-2019. The Company has considered such outbreak situation as subsequent event to the Balance Sheet date 40 Event occurred after the Balance Sheet Date

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approval of financial statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. As of May 28, 2022, there were no subsequent events to be recognised or reported that are not already disclosed.

1 Due to No Revenue from operation the Trade receiveble turnover ration is Nil

2 Due to blockage of Funds

3 Due to No Revenue from operation the Ne capital Turnover ratio is Nil

4 Due to writtten off of deferred expenses Net Profit Ratio is Negative

5 Due to writtten off of deferred expenses Return on capital employed is negative

6 Due to writtten off of deferred expenses Return on Investment is negative 42 Previous year figures are regrouped wherever necessary.

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Mar 31, 2024

2.14 Contingencies and Provisions:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

Contingent liabilities are recognized only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of obligation cannot be made. Contingent assets are not recognized in the financial statements.

2.15 Statement of Cash Flow:

Cash flows are reported using the indirect method, whereby profit/(loss) before exceptional items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on available information.

2.16 Financial Instruments:

Financial Assets and Financial Liabilities are recognized when the Company becomes party to the contractual provisions of the financial instrument. Financial Assets are derecognized when the rights to receive benefits have expired or been transferred, and the Company has transferred substantially all risks and rewards of ownership of such financial asset. Financial liabilities are derecognized when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expired. Purchase or sale of financial assets that require delivery of assets within a time frame established by regulation or convention in t he market place are recognized on trade date i.e. the date when the Company commits to purchase or sale the asset.

3. NOTES TO ACCOUNTS:

3.1 Some of the Balances of sundry creditors, sundry debtors, loans & advances and other liabilities are subject to confirmation and reconciliation.

3.2 In the opinion of the Board of Directors, Current Assets, Loans & Advances are approximately of the value at which they are stated in the Balance Sheet, if realized in the ordinary course of business.

3.3 The Company operates in one segment i.e. Professional, technical and business services and within one geographical segment i.e India.

3.4 The Company manages its capital to ensure that it will be able to continue as a going concern. The structure is managed to provide ongoing returns to shareholders and service debt obligations, whilst maintaining maximum operational flexibility.

3.5 The carrying amounts of trade payables, other financial liabilities, cash and cash equivalents, other bank balances, trade receivables and other financial assets are considered to be the same as their fair values due to their short term nature.

3.6 The Company opines that no provision for expected credit loss is required.

3.7 There is no significant market risk or liquidity risk to which the Company is exposed.

3.8 The disclosure of transactions with the related parties is given below:

(i) Parties where control exists: NIL

(ii) Subsidiary Companies: NIL

(iii) Fellow Subsidiary Companies: NIL

(iv) Key Management Personnel:

Raghvendra Kulkarni - Managing Director Sarjeevan Singh - Director Bhoomiben Patel - Director

Sunny Darji - Director Vipul Jana - CFO

Arpita Mittal - Company Secetary

3.14 No amount remained due to Micro and Small Enterprises as defined in the "The Micro, Small and Medium Enterprise Development Act, 2006" as identified on the basis of information collected by the management.

3.15 The Company has re grouped and re-classified the previous year''s figures in accordance with the requirements applicable in the current year. In view of this, certain figures of the current year are not strictly comparable with those of the previous year.

3.16 Fair Value Of Investment Property

There is no Investment in Property so it is not applicable

3.17 Details Of Benami Property Held

The company does not held any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder. Where any proceeding has not 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.

3.18 Relationship With Struck Off Companies

The Company does not have any transactions with companies struck off.

3.19 Borrowings Obtained On The Basis Of Security Of Current Assets

There is no borrowings obtained on the basis of security of Current assets and so, it is not applicable

3.20 Revaluation Of Property, Plant And Equipment And Intangible Assets

The Company doesn not have PPE / Intangible assets and so, it is not applicable

3.21 Utilization Of Borrowed Funds And Share Premium

There is no unutilised amounts in respect of any issue of securities and long term borrowings from banks and financial institutions and so, it is not applicable

3.22 Undisclosed Income

The Company does not have any 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 survey or any other relevant provisions of the Income Tax Act, 1961.

3.23 Details Of Crypto Currency Or Virtual Currency

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

3.24 Registration Of Charges Or Satisfaction With Registrar Of Companies

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

3.25 Compliance With Number Of Layers Of Companies

The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read with the Companies ( Restriction on number of Layers) Rules, 2017.

3.26 Notes 1 to 22 form integral part of accounts.

As per our report of even date for and on behalf of the Board of Directors

Softrak Venture Investment Limited

For M/s Meet Shah & Associates.

Chartered Accountants

sd/- sd/- sd/-

CA Meet Shah Raghvendra Kulkarni Sarjivan SIngh

(Proprietor) Managing Director Director

Membership No. 169259 DIN: 06970323 DIN: 08258683

UDIN : 24169259BKABSW7548

sd/- sd/-

Arpita Mittal Vipul Jana

Company Secretary CFO

Date: 27/05/2024 Date: 27/05/2024

Place: Ahmedabad Place: Ahmedabad

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Mar 31, 2012

Note As at 31st As at 31st No March, 2012 March, 2011 Amount (Rs.) Amount (Rs.)

1 Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0

(Pending before Sales tax Tribulnal for the Financial year 1993-1994)

Income tax Demand 0 0 (Pending before Income tax Tribunal for the Financial year 2007-2008) 0

Total 0 0

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Mar 31, 2011

(1) CONTINGENT LIABILITIES:

Claims against the Company not acknowledged as debts for income tax for as at 31st March, 2011 is NIL.

(2) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(3) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tax assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence.

(4) Due to continuing losses, the net worth of the Company has been eroded by more than fifty percent thereof; However, it is informed that the Company has been in dialogue with the various parties and shall propose the restructuring of capital structure for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(5) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation as in the case of banks. In respect of the old debtors, the Auditor has relied on the judgment of the management of the company as to the recoverable in absence of direct confirmation.

(6) As certified by the management of the Company, there is bad debts from the parties who failed to repay to the Company and accordingly bad debts amounting to Rs.4,29,00,000/- has been written off.

(7) As informed by the management, the Company has not required to maintain cost records under section 209(1)(d) of the Companies Act, 1956 and rules made there under by the Central Government in this regard.

(8) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31st March 2011 have not been given in view of information in this regard not made available to us.

(9) In the opinion of the management of the Company, the Company has only one segment viz. Computer and Software, hence no separate discloser of segment wise information has been made.

(10) There are no foreign currency transactions during the period.

(11) No further information pursuant to para II of the Schedule VI to the Companies Act, 1956 are given as the same are not applicable.

(12) Schedule 1 to 6 form an integral part of the balance sheet and profit and loss account.

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Mar 31, 2010

(1) CONTINGENT LIABILITIES:

Claims against the Company not acknowledged as debts for income tax for as at 31st March, 2010 is NIL.

(2) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(3) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tax assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence.

(4) Due to continuing losses, the net worth of the Company has been eroded by more than fifty percent thereof; However, it is informed that the Company has been in dialogue with the various parties and shall propose the restructuring of capital structure for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(5) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation as in the case of banks. In respect of the old debtors, the Auditor has relied on the judgment of the management of the company as to the recoverable in absence of direct confirmation.

(6) As certified by the management of the Company, there is bad debts from the parties who failed to repay to the Company and accordingly bad debts amounting to Rs.4,29,00,000/- has been written off.

(7) As informed by the management, the Company has not required to maintain cost records under section 209(1)(d) of the Companies Act, 1956 and rules made there under by the Central Government in this regard.

(8) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31st March 2010 have not been given in view of information in this regard not made available to us.

(9) The names of related parties with relationship and transactions with them are disclosed as under:

Sitting Fees Paid to Mr. Bakan Shah Rs. 3,000/-

Sitting Fees Paid to Mr. Dilip Shah Rs. 3,000/-

Sitting Fees Paid to Mrs. Dipti Shah Rs. 4,000/-

(10) In the opinion of the management of the Company, the Company has only one segment viz. Computer and Software, hence no separate discloser of segment wise information has been made.

(11) There are no foreign currency transactions during the period.

(12) No further information pursuant to para II of the Schedule VI to the Companies Act, 1956 are given as the same are not applicable.

(13) Schedule 1 to 6 form an integral part of the balance sheet and profit and loss account.

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Mar 31, 2009

(1) CONTINGENT LIABILITIES:

Claims against the Company not acknowledged as debts for income tax for as at 31st March, 2009 is NIL.

(2) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(3) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tax assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence.

(4) Due to continuing losses, the net worth of the Company has been eroded by more than fifty percent thereof; However, it is informed that the Company has been in dialogue with the various parties and shall propose the restructuring of capital structure for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(5) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation as in the case of banks. In respect of the old debtors, the Auditor has relied on the judgment of the management of the company as to the recoverable in absence of direct confirmation.

(6) As certified by the management of the Company, there is bad debts from the parties who failed to repay to the Company and accordingly bad debts amounting to Rs.4,29,00,000/- has been written off.

(7) As informed by the management, the Company has not required to maintain cost records under section 209(1)(d) of the Companies Act, 1956 and rules made there under by the Central Government in this regard.

(8) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31st March 2009 have not been given in view of information in this regard not made available to us.

(9) The names of related parties with relationship and transactions with them are disclosed as under:

Sitting Fees Paid to Mr. Bakan Shah Rs. 7,000/-

Sitting Fees Paid to Mr. Dilip Shah Rs. 6,000/-

Sitting Fees Paid to Mrs. Dipti Shah Rs. 7,000/-

(10) In the opinion of the management of the Company, the Company has only one segment viz. Computer and Software, hence no separate discloser of segment wise information has been made.

(11) There are no foreign currency transactions during the period.

(12) No further information pursuant to para II of the Schedule VI to the Companies Act, 1956 are given as the same are not applicable.

(13) Schedule 1 to 7 form an integral part of the balance sheet and profit and loss account.