Notes to Accounts of Toyam Sports Ltd.

Mar 31, 2025

Note No 14.2: Terms / rights attached to equity shares

The Company has only one class of equity shares having a face value of Rs. lakhsl/- per share. Each holder of equity share is entitled to one vote per equity share.In the event of winding-up, the holders of equity shares shall be entitled to receive remaining assets, if any in proportion to the number of shares held at the time of commencement of winding-up. The share holders have all other rights as available to the Equity shareholders as per the provisions of the Companies Act, 2013 read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

Note No 14.3: Aggregate number of bonus shares issued and sub-division of shares during the period of five years immediately preceding the reporting date :

No Bonus shares issued and Sub-Division of shares done during the period of past five yeaRs. lakhs

Note No 14.4: The details of shareholders holding more than 5% shares in the company :

No shareholders are holding more than 5% shares in the Company.

Note No 14.5: The details of Promoter''s Shareholding : NIL

(i) Retained earnings represents net profit after disturbation and transfer to other reserves.

(ii) The amount received in excess of face value of the equity shares is recognised in Securities Premium. Incase of equity-settled share based payment transactions, the difference between fair value on grant date and nominal value of share is accounted as securities premium. It is utilised in accordance with the provisions of section 52 of the Companies Act,2013.

(iii) The fair value of the equity-settled share based payment transactions with employees is recognised in Statement of Profit and Loss with corresponding credit to Employee Stock Grants Outstanding Account.The expenses in respect of the Company''s ESOP scheme will be charged against the Reserve for employee compensation expense as per court Scheme.

(iv) Amount received against warrants.

26 Financial Instruments - Accounting classification and fair value measurements

a) The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in forced or liquidation sale.

b) The following methods and assumptions were used to estimate the fair value:

1) Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term loans from banks and other financial instruments approximate their carrying amounts largely due to the short term maturities of these instruments.

2) Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rate and individual credit worthiness of the counter party. Based on this evaluation, allowances are taken to account for the expected losses of these receivables.

c) The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation techniques:

Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2 : Valuation techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly. Level 3 : Valuation techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

The following table shows the carrying amounts and fair values of financial assets and financials liabilities, including their levels in the fair value hierarchy :

27 Financial risk management Objectives and policies Risk management framework

The Company''s management has overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company conducts yearly risk assessment activities to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has a system in place to ensure risk identification and ongoing periodic risk assessment is carried out. The Board of directors periodically monitors the risk assessment.

The Company has exposure to the following risks arising from financial instruments :

- Credit risk

- Liquidity risk

- Market risk

a) Credit risk

Credit risk is the risk that counterparty will not meet its obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. The company generally doesn''t have collateral.

Trade receivables

Customer credit risk is managed as per Company''s established policy, procedures and control relating to customer credit risk management. Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

An impairment analysis is performed for all major customers at each reporting date on an individual basis. In addition, a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively. The calculation is based on historical data. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several industries and operate in largely independent markets.

Bank balances and deposits with banks

Credit risk from balances with banks is managed by the company''s finance department as per Company''s policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty credit limits are reviewed by the Company''s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Company''s Board of directoRs. lakhs The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

b) 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 delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

c) Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial instrument. These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowing.

The company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk factors with the object of governing / mitigation them accordingly to company''s objectives and declared policies in specific context of impact thereof on various segments of financial instruments.

Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in which sales, purchase are denominated and the respective functional currencies of Company. The Company has transcations primarily denominated in US dollaRs. lakhs

Exposure to currency risk

The Company is not exposure to currency risk as reported to the management.

d) Interest 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 entity''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates. Exposure to interest risk

The Company is not exposure to interest risk as reported to the management.

28 Capital Management

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividend or re-investment into business based on its long term financial plans.

31 Disclosure requirement as notified by MCA pursuant to amended schedule III:

1) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

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

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

4) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

5) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), 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 Beneficiaries;

6) 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 entities 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,

7) 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).

8) The Company does not have any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee).

9) The company has not been declared as a wilful defaulter.

Contingent liabilities above represent estimates made mainly for probable claims arising out of litigation and disputes pending with tax authorities. The probability and timing of outflow with regard to these matters depend on the final outcome of litigations / disputes. Hence the Company is not able to reasonably ascertain the timing of the outflow.

33 The previous year figures have been regrouped/ reclassified, wherever necessary to conform to the current presentation as per the schedule III of Companies Act, 2013.

34 An impairment provision of Rs. 2659.19 (in lakhs) has been recognised under exceptional items towards goodwill related to the investment.

35 An impairment provision of Rs.972.19 (in lakhs) has been recognised under exceptional items towards the investment in Astlaxmi Re Rolls Jalna Pvt Ltd and Bhakti World Radio Broadcasting Pvt Ltd. The decline is considered other than temporary.

36 The Company is primarily engaged only in the business of Sports Promotion. There is no separate reportable segment as per Ind As 108 - Operating Segments.

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Mar 31, 2024

Note No 14.2: Terms / rights attached to equity shares

The Company has only one class of equity shares having a face value of Rs. lakhsl/- per share. Each holder of equity share is entitled to one vote per equity share.In the event of winding-up, the holders of equity shares shall be entitled to receive remaining assets, if any in proportion to the number of shares held at the time of commencement of winding-up. The share holders have all other rights as available to the Equity shareholders as per the provisions of the Companies Act, 2013 read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

Note No 14.3: Aggregate number of bonus shares issued and sub-division of shares during the period of five years immediately preceding the reporting date :

No Bonus shares issued and Sub-Division of shares done during the period of past five yeaRs. lakhs

Note No 14.4: The details of shareholders holding more than 5% shares in the company :

No shareholders are holding more than 5% shares in the Company.

Foot Notes:

(i) Retained earnings represents net profit after disturbation and transfer to other reserves.

(ii) The amount received in excess of face value of the equity shares is recognised in Securities Premium. Incase of equity-settled share based payment transactions, the difference between fair value on grant date and nominal value of share is accounted as securities premium. It is utilised in accordance with the provisions of section 52 of the Companies Act,2013.

(iii) The fair value of the equity-settled share based payment transactions with employees is recognised in Statement of ProfiOand Loss with corresponding credit to Employee Stock Grants Outstanding Account.

The expenses in respect of the Company''s ESOP scheme will be charged against the Reserve for employee compensation expense as per court Scheme.

(iv) Amount received against warrants.

26 Financial Instruments - Accounting classification and fair value measurements

a) The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing

b) The following methods and assumptions were used to estimate the fair value:

1) Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term loans from banks and

2) Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rate and individual credit

c) The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation techniques:

Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2 : Valuation techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly. Level 3 : Valuation techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

The following table shows the carrying amounts and fair values of financial assets and financials liabilities, including their levels in the fair value hierarchy :

27 Financial risk management Objectives and policies Risk management framework

The Company''s management has overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company conducts yearly risk assessment activities to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has a system in place to ensure risk identification and ongoing periodic risk assessment is carried out. The Board of directors periodically monitors the risk assessment.

The Company has exposure to the following risks arising from financial instruments :

- Credit risk

- Liquidity risk

- Market risk

a) Credit risk

Credit risk is the risk that counterparty will not meet its obligation under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. The company generally doesn''t have collateral.

The carrying amounts of financial assets represent the maximum credit risk exposure. The maximum exposure to credit risk at the reporting date is as follows :-

Trade receivables

Customer credit risk is managed as per Company''s established policy, procedures and control relating to customer credit risk management. Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

An impairment analysis is performed for all major customers at each reporting date on an individual basis. In addition, a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively. The calculation is based on historical data. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several industries and operate in largely independent markets.

Bank balances and deposits with banks

Credit risk from balances with banks is managed by the company''s finance department as per Company''s policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty credit limits are reviewed by the Company''s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Company''s Board of directoRs. lakhs The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

b) 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 delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial instrument. These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowing.

The company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk factors with the object of governing / mitigation them accordingly to company''s objectives and declared policies in specific context of impact thereof on various segments of financial instruments.

Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in which sales, purchase are denominated and the respective functional currencies of Company. The Company has transcations primarily denominated in US dollaRs. lakhs

Exposure to currency risk

The Company is not exposure to currency risk as reported to the management.

Interest 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 entity''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

Exposure to interest risk

The Company is not exposure to interest risk as reported to the management.

Capital Management

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividend or re-investment into business based on its long term financial plans.

29 Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision - maker. the managing Director and Chief executive officer of the Company who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the chief operating decision - maker.

Notes:

1. Segment revenue, results, assets and liabilities include amounts that are directly attributable to the respective segments. Amounts not directly attributable have been allocated to the segments on the best judgment of the management. Expenses not directly allocable to the segments are treated as "Unallocated Expenses".

2. Segment revenues, expenses and results include transfers between business segments. Such transfers are undertaken either at competitive market prices charged to unaffiliated customers for similar goods or at contracted rates. These transfers are eliminated on consolidation.

31 Disclosure requirement as notified by MCA pursuant to amended schedule III:

1) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

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

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

4) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

5) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), 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 Beneficiaries;

6) 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 entities 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,

7) 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).

8) The Company does not have any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee).

9) The company has not been declared as a wilful defaulter.

Contingent liabilities above represent estimates made mainly for probable claims arising out of litigation and disputes pending with tax authorities. The probability and timing of outflow with regard to these matters depend on the final outcome of litigations / disputes. Hence the Company is not able to reasonably ascertain the timing of the outflow.

36 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation as per the schedule III of Companies Act, 2013.

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Mar 31, 2023

v) Provisions and contingent liabilities

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can
be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market
assumptions of the time value of money and the risks specific to the liability. The unwinding of discount is recognized as
finance cost.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at
reporting date, taking into account the risks and uncertainties surrounding the obligation.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the
receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the
receivable can be measured reliably.

Contingent liabilities are possible obligations that arise from past events and whose existence will only be confirmed by the
occurrence or non-occurrence of one or more future events not wholly within the control of the Company. Where it is not
probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is
disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote.

vi) Leases

As a lessee

The Company''s leases primarily consist of leases of office premises and guest houses. The Company assesses whether a
contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to
control the use of an identified asset for a period of time in exchange for consideration.

At the date of commencement of the lease, the Company recognizes a ROU and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value
leases. For these short-term and/or low value leases, the Company recognises the lease payments as an operating expense
on a straight-line basis over the term of the lease. Certain lease arrangements includes the options to extend or terminate
the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably
certain that they will be exercised.

The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives.
They are subsequently measured at cost less accumulated depreciation and impairment losses. Currently, ROU assets are
being amortised over a period of 3-5 years based on lease term being lower of lease term and estimated useful life of
underlying assets.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified
as financing activities in statement of cash flows.

As a lessor

Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the
lease term unless the receipts are structured to increase in line with expected general inflation to compensate for the
expected inflationary cost increases.

vii) Borrowing costs

Borrowing costs directly attributable to the acquisition or construction of those property, plant and equipment which
necessarily takes a substantial period of time to get ready for their intended use are capitalised. All other borrowing costs are
expensed in the period in which they incur in the statement of profit and loss.

viii) Revenue Recognition

Revenue comprises revenue from contracts with customers for sale of goods. Revenue from sale of goods is inclusive of
excise duties and is net of returns, trade allowances, rebates, value added taxes, Goods and Services Tax (GST) and such
amounts collected on behalf of third parties.

Revenue is recognised as and when performance obligations are satisfied by transferring goods or services to the customer.

Interest

Interest income is recognized using the effective interest rate method. The effective interest rate is the rate that discounts
estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of the financial
asset. Interest income is included under the head "Other income" in the statement of profit and loss.

Dividend

Dividend income is recognized when the Company''s right to receive the payment is established, which is generally when the
shareholders approve the dividend.

ix) Income tax

Income tax comprises current and deferred tax. It is recognised in profit or loss except to the extent that it relates to a
business combination or to an item recognised directly in equity or in other comprehensive income.

a) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment
to the tax payable or receivable in respect of previous yeaRs. lakhs The amount of current tax reflects the best estimate of
the tax amount expected to be paid or received after considering the uncertainty, if any related to income taxes. It is
measured using tax rates (and tax laws) enacted or substantively enacted by the reporting date.

b) Deferred tax

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and the corresponding amounts used for taxation purposes. Deferred tax is also recognised in
respect of carried forward tax losses and tax credits.Deferred tax assets are recognised to the extent that it is probable that
future taxable profits will be available against which they can be used.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which
they can be used.

Deferred tax assets recognised or unrecognised are reviewed at each reporting date and are recognised / reduced to the
extent that it is probable / no longer probable respectively that the related tax benefit will be realised.

Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is
settled, based on the laws that have been enacted or substantively enacted by the reporting date.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company
expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.

The Company offsets the current tax assets and liabilities (on a year on year basis) and deferred tax assets and liabilities,
where it has a legally enforceable right and where it intends to settle such assets and liabilities on a net basis.

x) Earnings per share

The Company presents basic and diluted earnings per share (EPS) data for its ordinary shares. Basic EPS is calculated by
dividing the profit or loss after tax attributable to ordinary shareholders of the Company by the weighted average number of
ordinary shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss after tax attributable
to ordinary shareholders and the weighted average number of ordinary shares outstanding after adjusting for the effects of all
potential dilutive ordinary shares.

xi) Statement of Cash flow

Cash flows are reported using the indirect method, whereby profit / (loss ) for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item
of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated. Cash and cash equivalents are cash, balances with bank and short-term
(three months or less from the date of placement), highly liquid investments that are readily convertible into cash and which
are subject to an insignificant risk of changes in value

xii) Financial instruments

a) Recognition and initial measurement

The Company initially recognises financial assets and financial liabilities when it becomes a party to the contractual provisions
of the instrument. All financial assets and liabilities are measured at fair value on initial recognition. Transaction costs that are
directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through
profit or loss are added to the fair value on initial recognition. Regular way purchase and sale of financial assets are
accounted for at trade date.

b) Classification and subsequent measurement

Financial assets

Financial assets carried at amortised cost

A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective is to hold
the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified
dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business
model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on
the principal amount outstanding.

Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss.
Financial liabilities

Financial liabilities are subsequently carried at amortised cost using the effective interest method. For trade and other
payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short
maturity of these instruments.

In case, the fair value of a financial asset or financial liability, at initial recognition, differs from the transaction price, the
difference between the fair value at initial recognition and the transaction price -

(i) is recognised as a gain or loss if that fair value is evidenced by a quoted price in an active market for an identical asset or
liability (i.e. a Level 1 input) or based on a valuation.

(ii) is deferred and is recognised as a gain or loss only to the extent that it arises from a change in a factor (including time)
that market participants would take into account when pricing the asset or liability. The unamortised portion of the deferred
fair value gain/loss difference as on reporting date, is disclosed under other current / non-current assets / liabilities as the
case may be.

c) Derecognition
Financial assets

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or
it transfers the right to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards
of ownership of the financial assets are transferred or in which the Company neither transfers nor retains substantially all of
the risks and rewards of ownership and does not retain control of the financial asset.

If the Company enters into transactions whereby it transfers assets recognised on its balance sheet but retains either all or
substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognised.

The Company assesses impairment based on expected credit losses (ECL) model at an amount equal to:-

• 12 months expected credit losses, or

• Lifetime expected credit losses

depending upon whether there has been a significant increase in credit risk since initial recognition. However, for trade
receivables, the company does not track the changes in credit risk. Rather, it recognizes impairment loss allowance based on
lifetime ECLs at each reporting date, right from its initial recognition.

Financial liabilities

The Company derecognises a financial liability when its contractual obligations are discharged or cancelled or expired.

The Company also derecognises a financial liability when its terms are modified and the cash flows under the modified terms
are substantially different. In this case, a new financial liability based on the modified terms is recognised at fair value. The
difference between the carrying amount of the financial liability extinguished and a new financial liability with modified terms is
recognised in the statement of profit and loss.

d) Offsetting

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only when,
the Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net
basis or realise the asset and settle the liability simultaneously.

xiii) Recent amendments to Indian Accounting Standards:

On March 31, 2023, Ministry of Corporate Affairs (''MCA'') issued the Companies (Indian Accounting Standards) Amendment
Rules, 2023 (''the Rules''), applicable for annual reporting periods beginning on or after April 01, 2023, which are as below:

a) Ind AS 1 - Presentation of Financial Statements:

Entities are required to disclose its ''material accounting policy information'' instead of its ''significant accounting policies''.
Guidance has been added to explain how an entity can identify material accounting policy information and to give examples of
when accounting policy information is likely to be material. The amendments also clarify that -

a. accounting policy information may be material because of its nature, even if the related amounts are immaterial;

b. accounting policy information is material if users of an entity''s financial statements would need it to understand other
material information in the financial statements; and

c. if an entity discloses immaterial accounting policy information, such information shall not obscure material accounting
policy information.

These amendments are not expected to have a material impact on the financial statements of the Company and the
management will evaluate the disclosures requirements for the subsequent annual financial reporting.

b) Ind AS 8 - Accounting policies, Changes in Accounting estimates and Error:

The definition of ''change in accounting estimates'' is replaced with a definition of ''accounting estimates''. As per the new
definition accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty".
The amendments have also added explanation for treatment and recognition of changes in accounting estimates.

These amendments are not expected to have a material impact on the financial statements of the Company.

c) Ind AS 12 - Income taxes:

Transactions which give rise to equal taxable and deductible temporary differences (at time of the transaction) have been
added to exceptions to the initial recognition exemption provided in the Ind AS 12. The amendments also apply to taxable and
deductible temporary differences associated with right-of-use assets and lease liabilities, and decommissioning obligations and
corresponding amounts recognised as assets at the beginning of the earliest comparative period presented and requires
recognition of the cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained
earnings (or other component of equity, as appropriate) at that date.

The Company is in the process of evaluating the impact of these amendments, however, these amendments are not expected
to have a material impact on the financial statements of the Company as the Company already recognised the deferred taxes
associated with right-of-use assets and lease liabilities that are already aligned with the proposed amendments.

d) Amendments pertaining to other Ind AS [i.e. Ind AS 101 - First Time Adoption of Indian Accounting Standards, Ind AS 102 -
Share-based Payments, Ind AS 103 - Business Combinations, Ind AS 107 - Financial Instruments Disclosures, Ind AS 109 -
Financial Instruments and Ind AS 115 - Revenue from Contracts with Customers] contained the said Rules are in the nature of
either certain corrections of errors or consequential cross reference in respect of the above mentioned amendments and do
not have impact on accounting principles.

26 Financial Instruments - Accounting classification and fair value measurements

a) The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged in a
current transaction between willing parties, other than in forced or liquidation sale.

b) The following methods and assumptions were used to estimate the fair value:

1) Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current
liabilities, short term loans from banks and other financial instruments approximate their carrying amounts largely due to the
short term maturities of these instruments.

2) Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as
interest rate and individual credit worthiness of the counter party. Based on this evaluation, allowances are taken to account
for the expected losses of these receivables.

c) The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by
valuation techniques:

Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2 : Valuation techniques for which all inputs which have a significant effect on the recorded fair value are observable,
either directly or indirectly.

Level 3 : Valuation techniques which use inputs that have a significant effect on the recorded fair value that are not based
on observable market data.

27 Financial risk management
Objectives and policies
Risk management framework

The Company''s management has overall responsibility for the establishment and oversight of the Company''s risk management
framework.

The Company conducts yearly risk assessment activities to identify and analyse the risks faced by the Company, to set appropriate
risk limits and controls and to monitor risks and adherence to limits. Risk management systems are reviewed regularly to reflect
changes in market conditions and the Company''s activities. The Company, through its training and management standards and
procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and
obligations.

The Company has a system in place to ensure risk identification and ongoing periodic risk assessment is carried out. The Board of
directors periodically monitors the risk assessment.

The Company has exposure to the following risks arising from financial instruments :

- Credit risk

- Liquidity risk

- Market risk

a) Credit risk

Credit risk is the risk that counterparty will not meet its obligation under a financial instrument or customer contract, leading to a
financial loss. The Company is exposed to credit risk from its operating activities and from its financing activities, including deposits
with banks and financial institutions, foreign exchange transactions and other financial instruments. The company generally doesn''t
have collateral.

Customer credit risk is managed as per Company''s established policy, procedures and control relating to customer credit risk
management. Credit risk has always been managed by the Company through credit approvals, establishing credit limits and
continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of
business.

An impairment analysis is performed for all major customers at each reporting date on an individual basis. In addition, a large number
of minor receivables are grouped into homogenous group and assessed for impairment collectively. The calculation is based on
historical data. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The
company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several
industries and operate in largely independent markets.

Bank balances and deposits with banks

Credit risk from balances with banks is managed by the company''s finance department as per Company''s policy. Investment of
surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty
credit limits are reviewed by the Company''s Board of Directors on an annual basis, and may be updated throughout the year subject
to approval of the Company''s Board of directoRs. lakhs The limits are set to minimise the concentration of risks and therefore
mitigate financial loss through counterparty''s potential failure to make payments.

b) 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 delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the Company''s reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and
undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

c) Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial
instrument. These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and
other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial
instruments including investments and deposits, foreign currency receivables, payables and loans and borrowing.

The company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk
factors with the object of governing / mitigation them accordingly to company''s objectives and declared policies in specific context
of impact thereof on various segments of financial instruments.

Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in which sales, purchase are
denominated and the respective functional currencies of Company. The Company has transcations primarily denominated in US
dollaRs. lakhs

Exposure to currency risk

The Company is not exposure to currency risk as reported to the management.

d) Interest 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 entity''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long¬
term debt obligations with floating interest rates.

Exposure to interest risk

The Company is not exposure to interest risk as reported to the management.

28 Capital Management

For the purpose of the Company''s capital management, capital includes issued capital and all other equity reserves attributable to
the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to
continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an
optimal capital structure, the Company allocates its capital for distribution as dividend or re-investment into business based on its
long term financial plans.

Notes:

1. Segment revenue, results, assets and liabilities include amounts that are directly
attributable to the respective segments. Amounts not directly attributable have been
allocated to the segments on the best judgment of the management. Expenses not directly
allocable to the segments are treated as "Unallocated Expenses".

2. Segment revenues, expenses and results include transfers between business segments.
Such transfers are undertaken either at competitive market prices charged to unaffiliated
customers for similar goods or at contracted rates. These transfers are eliminated on
consolidation.

31 Disclosure requirement as notified by MCA pursuant to amended schedule III:

1) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for
holding any Benami property.

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

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

4) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

5) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), 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 Beneficiaries;

6) 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 entities 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,

7) 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).

8) The Company does not have any immovable property (other than properties where the Company is the lessee and the lease
agreements are duly executed in favour of the lessee).

9) The company has not been declared as a wilful defaulter.

Contingent liabilities above represent estimates made mainly for probable claims arising out of litigation and disputes
pending with tax authorities. The probability and timing of outflow with regard to these matters depend on the final
outcome of litigations / disputes. Hence the Company is not able to reasonably ascertain the timing of the outflow.

36 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation
as per the schedule III of Companies Act, 2013.

As per our report of even date attached. For Toyam Industries Limited

For Manoj Vatsal & Co.

Chartered Accountants

Firm Registration Number: 010155C SD/- SD/-

Mazhar Shaikh Kailash Yadav

Executive Director Executive Director

DIN : 09084757 DIN : 00628363

Partner

Membership No. 181081 SD/- SD/-

Shamima Shaikh Abhishek Pokharna

Place: Mumbai Chief Financial Officer Company Secretary

Date: May 30, 2023

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Mar 31, 2018

NOTE 1 Company Overview

The Company ("Toyam Industries Limited", "TOYAM") is an existing public limited company incorporated on 25/01/1985 under the provisions of the Indian Companies Act, 1956 and deemed to exist within the purview of the Companies Act, 2013, having its registered office at -503, shri Krishna Complex, Opp. Laxmi Industrial Estate, New Link Road Mumbai Mumbai City MH 400053. The Company offers a diverse range of products and services including Trading in Agro Commodity, COmmodity, Restaurent and Financing Activity. The equity shares of the Company are listed on BSE Limited (“BSE”) and Metropolitan Stock Exchange of India Limited (“MSEI”). The financial statements are presented in Indian Rupee (Rs.).

A. Measurement of fair values

Valuation techniques and significant unobservable inputs

The Fair Value of the Financial Assets & Liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

B. Financial Risk Management

B. i. Risk management framework

A wide range of risks may affect the Company’s business and operational or financial performance. The risks that could have significant influence on the Company are market risk, credit risk and liquidity risk. The Company’s Board of Directors reviews and sets out policies for managing these risks and monitors suitable actions taken by management to minimise potential adverse effects of such risks on the company’s operational and financial performance.

B. ii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade and other receivables, cash and cash equivalents and other bank balances. To manage this, the Company periodically assesses financial reliability of customers, taking into account the financial condition, current economic trends and analysis of historical bad debts and ageing of accounts receivable. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

(a) Trade and other receivables from customers

Credit risk in respect of trade and other receivables is managed through credit approvals, establishing credit limits and monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in the credit risk on an on-going basis through each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of default occurring on assets as at the reporting date with the risk of default as at the date of initial recognition. It considers reasonable and supportive forwarding-looking information such as:

i. Actual or expected significant adverse changes in business

ii. Actual or expected significant changes in the operating results of the counterparty

iii. Financial or economic conditions that are expected to cause a significant change to the counterparties ability to meet its obligation

iv. Significant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or credit enhancements

Financial assets are written off when there is a no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company. When loans or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due, When recoverable are made, these are recognised as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends. Based on the historical data, loss on collection of receivable is not material hence no additional provision considered.

(b) Cash and cash equivalents and Other Bank Balances

The Company held cash and cash equivalents and other bank balances as stated in Note No. 05. The cash and cash equivalents are held with bank with good credit ratings and financial institution counterparties with good market standing.

C.iii. 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 delivering cash or another financial asset.

Liquidity risk is managed by Company through effective fund management of the Company’s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and other borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

C. iv. Market risk

Market Risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and other price risk.

C. iv.a Currency risk

The Company is not exposed to any currency risk on account of its operating and financing activities. The functional currency of the Company is Indian Rupee. Our exposure are mainly denominated in INR''s Only. The Company’s business model incorporates assumptions on currency risks and ensures any exposure is covered through the normal business operations. This intent has been achieved in all years presented. The Company has put in place a Financial Risk Management Policy to Identify the most effective and efficient ways of managing the currency risks.

C.iv.b 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 is exposed to interest rate risk through the impact of rate changes on interest-bearing liabilities and assets. The Company manages its interest rate risk by monitoring the movements in the market interest rates closely.

NOTE 2 FIRST TIME ADOPTION OF IND AS

The Company has adopted Ind AS with effect from 1^st April 2017 with comparatives being restated. Accordingly the impact of transition has been provided in the Opening Reserves as at 1st April 2016. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

Explanation 1 - Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

(I) Ind AS Optional exemptions Deemed Cost - Property, Plant and Equipment and Intangible Assets

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets. Accordingly, the Company has elected to measure all of its property, plant and equipment and intangible assets at their previous GAAP carrying values.

(II) Ind AS mandatory exemptions

(i) Estimates

An entity''s estimates in accordance with Ind AS'' at the date of transition to Ind AS shall be consistant with the estimates made for the same date in accordance with the previous GAAP (after adjustments to reflect any difference in accounting policies) unless there is an objective evidence that those estimates were in error.

(ii) Classification and measurement of financial assets (other than equity instruments)

Ind AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and circumstances that exists at the date of transition to Ind AS.

(iii) De-recognition of financial assets and financial liabilities

Ind AS 101 requires a first time adopter to apply the de-recognition provisions for Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows first time adopter to apply the derecognition requirements provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities derecognised as a result of past Ind AS 101 retrospectively from the date of entity''s choosing, transactions was obtained at the time of initially accounting for the transactions.

NOTE 3

The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation as per the schedule III of Companies Act, 2013.

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Mar 31, 2016

NOTES TO ACCOUNTS:

1. Balances of Loans and Advances, Secured Loans, Trade Payables & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

3. Provision for retirement benefits to employees was provided on accrual basis, which is in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement of Profit & Loss.

4. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

5. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

6. Related Party Transaction :

Related Parties and Nature of Relationship:

Related Party Nature of Relation ship

Tejas Hingu Whole Time Director

Shashikumar Jatwal Independent Director

Pravin Kamble Independent Director

Manan Shah Independent Director

Priya Khagram Independent Director

Dimple Rathod Independent Director

Related Parties as disclosed by the management and relied upon by auditors.

8. The company being listed company required to follow section 203 & 134(1), However, the company secretary has been appointed on 28/03/2016, as informed by Management, CS has not signed the financial statement as on 31/03/2016. The said Key Managerial Personnel as per section 203 and to the extent 134(1) Signing of financial statement have been considered only by director.

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Mar 31, 2015

1. SHARE CAPITAL

a. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company decleres and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. In event of liquidation of the Company the holders of equity shares would 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.

2. Balances of Loans and Advances, Secured Loans, Trade Payables & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

3. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

4. Provision for retirement benefits to employees was provided on accrual basis, which is in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement of Profit & Loss.

5. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

6. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

7. Related Party Transaction :

Related Parties and Nature of Relationship:

Related Party Nature of Relation ship

Mr. Tejas Vinodrai Hingu Director

Mr. Shashi Kumar Ramdas Jatwal Director

Mr. Pravin Bhanudas Kamble Director

Mrs. Priya Manshukh Khagram Director

Mrs. Beena Agrawal Promoter

Mr. Vijay Agrawal Promoter

Note: Related Parties as disclosed by the management and relied upon by auditors.

Related Party Amount Nature of Transactions

Mr. Tejas Vinodrai Hingu 72,077 Remuneration to Director

8. Segment Information (AS-17)

Company has two segments of activities namely "Trading and Financial Activities & Fabric Business". Since there is No export turnover, there are no reportable geographical segments.

9. The company being listed company required to follow section 203 & 134 (1), However, the view of absence of appropriate candidate for filing vacancy of CFO and CS have not appointed. The said Key Managerial Personnel as per section 203 and to the extent 134(1) Signing of financial statement have been considered only by director. However, the management has considered the matter in the process of appointing relevant Key Managerial Personnel.

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Mar 31, 2014

1. Consequent to the notification under the Companies Act. 1956, the financial statements for the year encied 31 st March 2014 are prepared under revised Schedule VI Accordingly, the previous year figures have also boon reclassified to confirm to this year's classification

2. Provision for Taxation has boon made In the accounts as per current tax rates in force according to Indian Tax Statutes.

3. Investments

(a)The instruments are held in the name of Company except to the extent exempt under section 49 of the Companies Act. 1956.

(b) investments held are fully paid-up unless otherwise stated.

Market value of un-quoted investments Is not available

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Mar 31, 2013

1. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st M$rch 2013 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to confirm to this yea's classification.

2. Provision for Taxation has been made in the accounts as per current tax rates in force according to Indian Tax Statutes.

3. Investments

(a) The instruments are held in the name of Company except to the extent exempt under section 49 of the Companies Act. 1956.

(b) Investments held are fully paid-up unless otherwise stated.

(c) Aggregate-Book value of unquoted Investments as at the year-end is 37.50 Lakhs {Previous Year 751.31 Lakhs). Market value of un-quoted investments is not available.

4. Contingent Liabilities not provided for in respect of:

There is no contingent liability against the Company.

Current assets. loans and advances have a value on realization which In the Ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonable required.

Disclosure under Micro, Small and Medium Enterprises Development Act, 2006 There are no Micro and Small Scale Business Enterprises, to whom the company owes dues for more that 45 days as on 31.03.2013.This information is required to be given under the Micro. Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been Identified on he basis of information available with the company.

Additional Information pursuant to provision of Paragraph 4D of Part II Schedule VI to the Companies Act

1956:

GIF Value of import -NIL Expenditure in Foreign Currency-NIL Earnings in Foreign Currency-NIL

Estimated amount of contracts remaining to be executed on capital accounts and not provided for Rs. NiL(Previous year NIL)

None of the employee was in receipt of remuneration exceeding Rs. 24,00,000/- p.a, if employed throughout the year and Rs. 2,00,000/- p.m. or more if employed for a pert of the year.

Disclosure Under AS 16 {Related Parties Disclosures!

(i) Details of relateq parties:

Description of relationship Nature of Names of related Relationship parties

Key Management Pumonnel (KMP) Director Achwani Dewan

Director Raja Gupta

Director Himanshu Kukreja

Relative of KMP Relative of

Director Sunita Dewan

Relative of Shushma Bajaj Director

Entitles In which KMP have Common Director Shfvji Finance significant influence And Investments Pvt Ltd

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Mar 31, 2012

Not Available

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Mar 31, 2011

NOTES CONCERNING AMALGAMATION

1.0 Scheme of Arrangement (Scheme) - The Scheme sanctioned by Honble High Court of Delhi is for the amalgamation of the ADINATH TRADING PVT LTD. (ATPL-Transferor Company No. 1) and Chitralekh Trading Pvt Ltd. (CTPL-Transferor Company No. 2) with the OJAS ASSET RECONSTRUCTION CO LTD. OARCL-Transferee Company)

The proposed scheme will result in reduction in overheads and other expenses, reduction in administrative and procedural works, eliminate duplication or work, better and more prodctive utilisation of various resources and will enable the undertakings concerned to effect internal economies and optimise productivity. The said scheme will enable the undretakings and business of the said companies to obtain greater facilities possessed and enjoyed by one large company compared to a small comanay for raising capital, securing and conducting trade and business on favorable terms and other related benefits. Thus there is synergy of business interest between the three Companies. Accordingly, their businesses are combined conveniently/ advantageously and would ensure for the benefit of the Shareholders, the employees and all the stakeholders of all the three Companies.

2.0 Salient feathres of the Scheme are:

2.1 The Scheme would be operative from the Appointed Date, i.e. 01.04.09 and would be effective from the on which copies of the order of Honble Court of Delhi sanctioning the Scheme has been tiled with the registrar of Companies, NCT of Delhi and Haryana.

2.2 Authorised Share Capital of the Transferee Company would be sum total of the Authorised Share Capital of all the three Companies.

2.3 Based on the business valuation of OARCL, ATPL and CTPL, Equity Shareholders of ATPL would get 21 Equity Shares for every 2 Equity Share held in ACTPL and Equity Shareholders of CTPL would get 21 Equity Shares for every 2 Equity Shares held in CTPL of the Transferee Company after canceling the crossholdings.

Accordingly, Equity Share Capital of the Transferee Company would become Rs. 21,24,90,000.00 comprising of 2,12,49,000 Equity Shares.

Accordingly, Equity Shares would be allotted to the Shareholders of all the two Companies as on the Record Date as under:- 21 New Equity Shares of Rs 10/- each fully paid -up of Transferee Company for every 2 Equity Shares of Rs 10/- each fully paid-up held in Transferor Company No.1, i.e. ATPL, 21 New Equity Shares of Rs 10/- each fully paid -up of Transferee Company for every 2 Equity shares of Rs 10/-each fully paid-up held in Transferor Company No. 2, i.e CTPL.

2.4 The incidence of adopting uniform Accounting Policies, if any, has been quantified and adjusted in the Revenue Reserves.

2.5 All Assets, Liabilities, Rights and Obligations of Transferor Companies No. 1 and 2 would vest with the Transferee Company at Book Value as on the Appointed Date, i.e. 1.4.2009.

3.0 The Scheme of amalgamation has been sanctioned by Honable High Court of Delhi vide its order dated 19.08.2011. The company has filed the requisite papers with RQC-Delhi & Haryana for its approval of scheme on 02.09.2011 and the same is awaited for its approval/ the Appointed Date of the Scheme being 1st April 2009.

3.1 The accounts of the Company have been prepared following the principles and procedures of the Pooling of Interest Method of Accounting for Amalgamation as per Accounting Standard-14.

3.2 The difference of Rs. 10901800.00 between the Equity Share Capital allotted to the Shareholders of both the Transferor Companies and their Equity Share Capital prior to Amalgamation has been adjusted in Profit & Loss A/c.

OTHER NOTES

4.0 This consolidated balance sheet has been prepared on the basis of scheme of arrangement consequent upon its approval by the Honble High court of Delhi vide its order dated 19.08.2011 by applying the principles laid down in AS-14 issued by the ICAI.

The compnay has during the period covered under audit allotted new equity shares as per the sanctioned scheme as has been approved by the ROC-New Delhi & Haryana on the date of this report. All the necessary proceedings pertaining to increase in authorised share capital and its subsequent allotment has already been completed.

5.0 Provision for Income Tax

The amalgamated Company OJAS ASSET RECONSTRUCTION CO LTD. Formerly known as CHETRAM BALKRISHAN LTD) intends to file its Income Tax Return based on amalgamated accounts. Accordingly the provision for taxation in the consolidated accounts has been made as per the current tax rates prescribe the Income Tax Act, 1961.

6. Contingent Liabilities not provided for in respect of:

There is no contingent liability against the Compnay.

a. Current assets, loans and advances have a value on realization on which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonable required.

7. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006

These are no Micro and Small Scale Business Enterprises, to whom the company owes ques for more than 45 days as on 31.03.2011, This information is required to be given under the Micro, Small and Medium Enterprises Development Act, 1006 has been determined to the extent such parties have been identified on the basis of information available with the company.