Notes to Accounts of Travels & Rentals Ltd.

Mar 31, 2025

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that
may, but probably will not, require an outflow of resources, or a present obligation whose amount cannot be
estimated reliably. Contingent liabilities do not warrant provisions, but are disclosed unless the possibility of
outflow of resources is remote. Contingent assets are neither recognized nor disclosed in the financial
statements. However, contingent assets are assessed continually and if it is virtually certain that an inflow of
economic benefits will arise, the asset and related income are recognized in the period in which the change
occurs.

Cash & Cash Equivalents as indicated in the Cash Flow Statement comprise Cash on Hand, Cash at Bank and
Forex in Hand.

Borrowing Costs:

Borrowing cost includes interest, and other ancillary costs incurred in connection with the arrangement of
borrowings and are charged to revenue. Borrowing costs that are attributable to the acquisition or construction
of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily
takes a substantial period of

time to get ready for its intended use. All other borrowing costs are charged to the Statement of Profit and Loss
in the period in which they are incurred.

Accounting for Government Grants:

The Company has not received any subsidy during the year.

Accounting for Amalgamation:

The company has not entered into any amalgamation contract in the financial year.

Leases:

There are no leases operating within the company.

Financial Reporting of Interests in Joint Ventures:

This Standard is not applicable in case of the Company as the Company has not entered into any Joint Venture.

Disclosure of contingencies if any as required by the accounting standard is furnished in the Notes on accounts.
Related Party Disclosures:

Details of related parties and transaction are disclosed in Note-27 of the Financial Statements.

Discontinuing Operations:

This Standard is not applicable to our Company since the Company has not discontinued any operations during
the year.

Previous Year Figures have been regrouped or rearranged wherever considered necessary.

Balances of Sundry Debtors, Loan & Advances and Sundry Creditors are subject to confirmation and
reconciliation (if any).

The Company has utilized the borrowings received from banks and financial instutions for the purpose for
which it was taken during the year.

In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value
stated if realized in the ordinary course of business. The provision for depreciation and for all known liabilities
are adequate and not in excess of the amount reasonably necessary.

Place: Kolkata
Date: 27.06.2025

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Mar 31, 2024

c. Terms & Conditions 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.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 and any other as the Memorandum or Articles may prescribe for the same.

(*) Amount payable during next 12 months is included under the head "Short Term Borrowing" Note No. 6

Existing Loan Facilities with Kotak Mahindra Bank has been repaid and closed and fresh working capital limit of Rs.875.00 Lacs has been taken from Red Fort Capital Finance Company Pvt. Ltd. vide Sanction Letter dated March 08, 2024).

The Terms of the loan taken from Red Fort Capital Finance Company Pvt. Ltd are as under:-Facilitv-I

Date of Sanction: 08.03.2024, Limit Sanctioned: 775.00 Lacs, Purpose of Loan: Working Capital, Tenure: 36 Monthly EMI of ?29,59,760/-

ROI: 22% p.a. Compounded Annually, Security: All Rights pertaining to the Commercial Property located at 161, Lenin Sarani, Kolkata-700014, owned by Mr. Devendra B Parekh, First and exclusive charges over all the receivable and assets of the Company.

Personal Guarantee of Mr. Devendra Bharat Parekh, Mrs. Anupama Singhi, Mr. Tushar Singhi, Mr. Bharat Jagmohan Parekh and Mrs. Karuna Parekh

Facilitv-II

Date of Sanction: 08.03.2024, Limit Sanctioned: 100.00 Lacs, Purpose of Loan: Working Capital, Tenure: 36 Monthly EMI of ?3,81,905/-

ROI: 22% p.a. Compounded Annually, Security: All Rights pertaining to the Commercial Property located at 161, Lenin Sarani, Kolkata-700014, owned by Mr. Devendra B Parekh, First and exclusive charges over all the receivable and assets of the Company.

Personal Guarantee of Mr. Devendra Bharat Parekh, Mrs. Anupama Singhi, Mr. Tushar Singhi, Mr. Bharat Jagmohan Parekh and Mrs. Karuna Parekh

Car Loan of Rs. 07.58 Lacs taken on 17.02.2021 from ICICI Bank for purchase of Car for office use and the same is repayable in 48 monthly instalment of Rs.18,508/- starting from 01.04.2021. Rate of Interest 7.80% Per Annum.

Unsecured Loan taken from Related Parties are also for working capital purpose.

a. Capitalized Borrowing Costs

No Borrowing Cost capitalized during the year ended 31st, March 2024

b. The Company has not revalued any of its Property, Plant and Equipment

c. There are no proceedings initiated or pending against the Company for holding Benami property under the Benami Transactions (Prohibition) Act, 1988.

31 Contingent Liabilities
Claims against the Company not acknowledged as Debts:- Outstanding Bank Guarantee (Issued to IATA)	- 50.00

32 Other Additional Regulatry Information:-

a There is no Capital Work-in-progress in the Company. b There are no intangible assets under development.

c No proceeding have been initiated or pending against the company for holding any benami property under the Benami Transaction (Prohibition), Act 1988 (45of 1988) and the rules made thereunder. d The company is not declared a wilful defaulter by any bank or Financial Institution or other lender. e There is no relationship with Struck off Companies.

f There are no registration of charges or satisfaction of charges to be registered with Register of Companies. g The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restricition on number of layers) Rule, 2017.

h No Scheme of Arrangements has been approved by the Competent Authority in terms of section 230 to 237 of the Companies Act, 2013.

i. A. The company has not advanced or loaned or invested fund (either borrowed fund or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary shall:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

i. B. 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:

(i) 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

(ii) provide any guarantee security or the like on behalf of the Ultimate Beneficiaries j There are no undisclosed income.

k The company is not covered under section 135 of the Companies Act.

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