Notes to Accounts of Varanium Cloud Ltd.

Mar 31, 2023

During the year under consideration the company had successfully completed the capitalisation of its Data Centre to the tune of ?39,06,63,973/-, as the entire work for the same was completed hence the said asset was capitalised under the head Plant & Machinary

Similarly the compant had also capitalised the WIP of Technology to the tune of ?4,22,29,000/-, as the one phase of the technology was developed and the same was also capitalised into the head Plant & Machinary

Rights of Equity Share Holder

The Company has issued one class of equity shares having a face value of C10 per share. Each shareholder has right to vote in respect of such share, on every resolution placed before the Company and his voting right on a poll shall be in proportion to his share of the paid -up equity capital of the Company. In the event of liquidation, the equity shareholders are entitled to receive the remaining assets of the Company after payments to secured and unsecured creditors, in proportion to their shareholding.

In the opinion of the Board of Directors adequate provision has been made in the accounts for all known liabilities and the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the value stated in the Balance Sheet.

Note No. 28

Other additional information pursuant to para 3, 4, 4A, 4C & 4D of Part II, Schedule III of the Companies Act, 2013, have not been furnished as the same are either NIL or not applicable.

Note No. 29

As per the provision of "The Micro, Small and Medium Enterprise Development Act, 2006" there were no amounts payable including interest to micro, small and medium enterprise as on 31^st March 2023.

The Company Is A Small And Medium Sized Company ("Smc") As Defined In The General Instructions In Respect of Accounting Standards Notified Under The Companies Act, 1956. Accordingly, The Company Has Complied With The Accounting Standards As Applicable To A Small And Medium Sized Company.

Note No. 33 Earning Per Share

The Basic / Dilluted earnings per share is computed by dividing net profit attributable to equity shareholders for the financial year by weighted average number of equity shares outstanding during the financial year.

Note No. 34 DEFERRED TAX

In compliance with the Accounting Standard - AS 22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has created the Deferred Tax Asset (Liability) (net) arising out of timing difference accruing during the year aggregating C7,73,877/- (Previous Year C97,831/-) in the Profit & Loss Account.

During the year under consideration the company had provided Payment Facility Services to companies under same management M/s. Varanium Earth Private Limited & Varanium Lifestyle Private Limited and from the said services the company had earned commission income. However the company has to yet pay an amount of C25,82,51,996/- to the said companies, the given below table summarises the amount payable to each company