1 Land and development includes certain leasehold lands the value of which is not separately ascertainable. Refer note 43.

2 The title deeds of all the immovable properties held by the Company disclosed in the financial statements are held in the name of the Company, except the following

(a) Title deeds of the immovable properties set out in the above table are in the name of Malayalam Plantations Limited (MPL) / Harrisons and Crossfield Limited (HCL). The immovable properties of MPL got transferred to and vested in Malayalam Plantations (India) Limited (MPIL) vide a Scheme of Arrangement and Amalgamation in 1978. Further, the immovable properties of HCL got transferred and vested in MPIL vide a Scheme of Arrangement and Amalgamation in 1984. The name of MPIL, Company incorporated in 1978, got changed to Harrisons Malayalam Limited in 1984.

3 Property, plant and equipment pledged as security

Details of properties pledged are as per note 38.

4 Capital work in progress (CWIP)

Capital work in progress mainly represents the immature bearer plants awaiting capitalisation.The capitalised portion of the same is disclosed seperately in the above table.

ii) Terms/right attached to Equity Shares

The Company has issued only one class of equity shares having a face value of ' 10 per share. Each holder of equity shares is entitled to one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, in proportion to their shareholding.

Description of nature and purpose of each reserve:a. General reserve

General reserve was created from time to time by way of transfer of profits from retained earnings for appropriation purposes.

b. Securities premium account

The amount received in excess of face value of the Equity shares was recognised in securities premium. The reserve is utilised in accordance with the provisions of the Act.

c. Reserve arising from amalgamation

Pertains to reserve created on account of amalgation effected between erstwhile companies during 1978-79'4.43 and 2009-10'286.90

d. Retained earnings

Retained earnings are the profits / (loss) that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholders.

* Based on the sanction letter from banks, value of four months standing crops has been considered in the returns filed with banks. The value of 14 days' crop for tea and 4 days' crop for rubber has been considered for the purpose of valuation in the finacial statements, on a prudent basis.

** The difference is on account of adjustments to valuation of inventory on change in net realisable value.

~ The difference is on account of reversal of revenue from contracts where performance obligation was met after the cut off date.

The above adjustments in respect of inventory and receivables are made after the date of initial filing of quarterly returns, but before the finalisation of books of accounts for the respective quarters. Revised statements have been filed with the bank, which are in agreement with the books of accounts.

The above disclosure has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

*Unpaid gratuity represents ' 1,452.37 (31 March 2022: ' 1,437.36) gratuity payable to certain employees who have not handed over the possession of the allotted official accommodation/quarters, even after 30 days of their superannuation / resignation from the Company. Based on the judicial pronouncements and legal opinion obtained, the Company is bound to discharge this liability only upon vacation of accommodation/ quarters by the employees. The management has initiated necessary measures to obtain possession of the property to discharge the liability. In the opinion of management, there is no impact in the financial statements as necessary provision is carried in the books of accounts to meet this liability.

The management assessed that the fair value of cash and cash equivalents, trade receivables, loans, other financial assets, trade payables, other financial liabilities and working capital loans approximate the carrying amount largely due to short-term maturity of this instruments.

The fair value of the financial assets and liabilities is 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.

(ii) Fair value of financial assets and liabilities measured at amortised cost

The management assessed that for amortised cost instruments, fair value approximate largely to the carrying amount.

(iii) Fair value hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three Levels of a fair value hierarchy. The three Levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data rely as little as possible on entity specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(iv) Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

- the fair value of foreign exchange forward contracts is determined using market observable inputs, including prevalent forward rates for the maturities of the respective contracts and interest rate curves as indicated by banks and third parties.

(a) (ii) Certain expenditure have been disallowed and Income has been added by the Income tax authorities during assessment proceedings for earlier years and tax demands were raised against the company. The Company is contesting/filed appeal against these demands and the same are pending before various appellate authorities.

(iii) The sales tax department has denied certain claims made by the company in earlier years and raised demand against the company. The Company's appeal against the said demands are pending before appellate authorities. In the opinion of management the outcome of the above litigations will be favourable to the group, hence no provision is considered necessary in the financial statements.

Terms of related party transactions

The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through

payment. There have been no guarantees provided or received for any related party receivables or payables. For the year ended 31 March 2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (31 March 2022: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

37 Deferred/Current tax

(i) The Company has not recognised any deferred tax asset in respect of unabsorbed depreciation/ brought forward losses and other temporary differences in accordance with Ind AS 12 “Income Taxes” in the absence of reasonable certainty that probable taxable profit will be available against which the deductible temporary difference can be utilised.

(ii) The Company elected to exercise the option permitted under section 115BAA of the Income Tax Act, 1961, as introduced by the Taxation Laws (Amendment) ordinance 2019. hence the Company has not accounted for MAT liability.

Unused tax losses for which no deferred tax asset has been recognised:

The Company has unabsorbed business loss of ' 1,674.50 under the provisions of Income-tax Act, 1961 and '13,637.10 under the provisions of Kerala Agricultural Income Tax Act, 1991 which expires on the 8th year from the end of the relevant assessment year.

The Company has unabsorbed depreciation loss under the provisions of Income-tax Act, 1961 amounting to ' 2,707.82, which has no limit for expiry.

38 Details of security, repayment terms, applicable interest rates

Term loan from banks - Non Current

a Loan availed of ' 1,223.48 during 2017-18 and ' 1776.52 during 2018 - 19 is repayable in 24 equal quarterly instalments commencing from June 2019, is secured by equitable mortgage created on immovable properties of the Company situated in Kollam, Fort Kochi and Coimbatore.The loan carries an interest rate of MCLR plus applicable spread payable on a monthly basis from disbursement of the loan.Year end balance of the loan is ' 1218.64 net of processing fees (As at 31 March 2022 : ' 1566.58)

b. Loan availed of ' 3,000.00 during 2018 - 19 is repayable in 20 quarterly instalments repayable as 8 quarterly instalments of ' 25.00 commencing from September 2019 upto December 2021, 8 quarterly instalments of ' 225.00 from March 2022 upto December 2023 and 4 quarterly final installments of ' 250.00 from March 2024 upto December 2024, is secured by a charge created on immovable property of the Company situated at Kumbazha rubber estate, Kerala. The loan carries an interest of MCLR plus applicable spread payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 1,663.80 net of processing fee (As at 31 March 2022 : ' 2,557.85 )

c Loan availed of ' 3000 during 2021-22 is repayable in 20 quarterly instalments reapayable as 8 quarterly instalments of ' 75.00 commencing from June 2023 up to March 2025, 12 quarterly instalments of ' 200 from June 2025 up to March 2028, is secured by a charge created on immovable property of the company situated at Kumbazha rubber estate, Kerala. The loan carries an interest of MCLR plus applicable spread payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 2,962.50 net of processing fee (As at 31 March 2022 : ' 1,455.00)

d Agri Infra Loan availed of ' 175.50 during 2021-22 is repayable in 57 monthly instalments reapayable as 56 monthly instalments of ' 3.09 commencing from April 2022 up to November 2026 and one monthly instalment of ' 2.46 in December 2026, is secured by first and exclusive charge on assets created out of bank finance. The loan carries an interest of MCLR plus applicable spread with an interest subvention payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 138.42 (As at 31 March 2022 : ' 175.50)

e The Company has availed the moratorium on term loan facilities offered by banks as part of COVID-19 regulatory package announced by RBI vide Circular DOR.No.BPBC.47/21.04.048/2019-20 dated March 27, 2020 and Circular DOR.No.BPBC.63/21.04.048/2019-20 dated April 17, 2020. The interest accrued during the moratorium period was converted in to a deferred interest term loan and is repayable over the balance tenure of the term loans. The amount outstanding as on 31st March 2023 is ' 94.24(As on 31 March 2022: ' 144.88).

f Loan availed of ' 249.97 during 2022-23 is repayable in 60 equal monthly instalments commencing from the date of availment, is secured by a charge creatd on assets created out of bank finance. The loan carries an interest of MCLR

plus applicable spread payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 234.28 net of processing fees (As at 31 March 2022 : ' Nil).

g Loan availed of ' 178.21 during 2022-23 is repayable in 60 equal monthly instalments commencing from the date of availment. The loan carries an interest of MCLR plus applicable spread payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 169.83 net of processing fees (As at 31 March 2022 : ' Nil).

h Loan availed of ' 23.60 during 2022-23 is repayable in 60 equal monthly instalments commencing from the date of availment, is secured by a charge creatd on assets created out of bank finance. The loan carries an interest of MCLR plus applicable spread payable on a monthly from the disbursement of the loan. Year end balance of the loan is ' 22.96 net of processing fees (As at 31 March 2022 : ' Nil).

i. Interest rate on term loan range between 11.60% to 8.25% (less 3% interest subvention) (As at 31 March 2022: 11.00% to 8.25% (less 3% interest subvention).

Term loan from others

Term loan from others are secured by hypothecation of assets acquired out of these loans which are repayable in equated monthly instalments (ranging between 3 to 5 years) along with the applicable interest rates (ranging between 8.5% to 13%).

40 Financial risk management

The Company's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Company's focus is to foresee the unpredictability of financial markets and seek to minimise potential adverse effects on it's financial performance. The Company's exposure to credit risk is influenced mainly by the individual characteristic of each customer.

The risk management activity focuses on actively securing the Company's short to medium-term cash flows by minimising the exposure to volatile financial markets.

A1 Trade receivables

Trade receivables are typically unsecured and are derived from revenue earned from customers located in India and outside India. 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. On account of adoption of Ind AS 109, ‘Financial Instruments', the Company uses expected credit loss model to assess the impairment loss or gain. The provision for expected credit loss takes into account available external and internal credit risk factors including the credit ratings of the various customers and Company's historical experience for customers.

Cash and cash equivalents and bank balances other than cash and cash equivalents

The credit risk for cash and cash equivalents and bank balances is considered negligible, since the counterparties are reputable banks with high quality external credit ratings.

Financial assets that are neither past due nor impaired

Loans and advances to employees, security deposits and other financial assets are neither past due nor impaired.

Financial assets that are past due but not impaired

There are no other classes of financial assets that is past due but not impaired.

(B) Liquidity risk

Liquidity risk is that the Company might be unable to meet its obligations. The Company manages its liquidity needs by monitoring scheduled debt servicing payments for long-term financial liabilities as well as forecast cash inflows and outflows on a day-to-day business. The data used for analyzing these cash flows is consistent with that used in the contractual maturity analysis below. Liquidity needs are monitored in various time bands, on a day-to-day and week-to-week basis, as well as on a monthly, quarterly, and yearly basis depending on the business needs. Net cash requirements are compared to available borrowing facilities in order to determine headroom or any shortfalls. This analysis shows that available borrowing facilities are expected to be sufficient over the lookout period.

(C) Market risk

The Company is exposed to market risk through its use of financial instruments and specifically to currency risk, interest rate risk and certain other price risk, which result from both its operating and investing activities.

(i) Foreign currency sensitivity

The Company operates internationally and has transactions in USD, Euro and GBP currency and consequently the Company is exposed to foreign exchange risk through its sales to overseas customers. The exchange rate between the rupee and foreign currencies may fluctuate substantially in the future. Consequently, the results of the Company's operations are adversely affected as the rupee appreciates/depreciates against these currencies.

Foreign currency denominated financial assets which expose the Company to currency risk are fully hedged by derivative cover.

Sensitivity

The following table details the Company's sensitivity to a 1% increase and decrease in the ' against the relevant foreign currencies. 1% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the year-end for a 1% change in foreign currency rates, with all other variables held constant. A positive number below indicates an increase in profit or equity where ' strengthens 1% against the relevant currency. For a 1% weakening of ' against the relevant currency, there would be a comparable impact on profit or equity, and the balances below would be negative.

Derivative financial instruments

The forward contracts in the financials year 2022-23 or 2021-2022 are nil.

(ii) Interest rate risk

The Company's fixed rate borrowings are carried at amortized cost. They are therefore not subject to interest rate risk as defined in Ind AS 107, ‘Financial Instruments' - Disclosures. As neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

41 Employee benefit obligations

The Company has provided for the gratuity liability and leave encashment liability (defined benefit plan), as per actuarial valuation carried out by an independent actuary on the Balance Sheet date.

a) Defined contribution Plan

The company makes contribution to statutory provident fund as per Employees Provident Fund and Miscellaneous Provision Act, 1952 for its employees. Also the company makes contribution to superannuation fund for its employees. This is a defined contribution plan as per Ind AS 19, Employee benefits. Total contribution made during the year ' 1,553.22 (31 March 2022: ' 1,483.03).

b) Defined benefit plans

The company has provided for gratuity and leave encashment liability, for its employees as per actuarial valuation carried out by an independent actuary on the Balance Sheet date. The valuation has been carried out using the Project Unit Credit Method as per Ind AS 19 to determine the present value of Defined Benefit Obligations and the related current service cost. This is a defined benefit plan as per Ind AS 19.

The gratuity plan is governed by the provisions of the Payment of Gratuity Act, 1972 (as amended from time to time). Employees are entitled to all the benefits enlisted under this Act.

c) Sensitivity analysis

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may vary overtime. Thus, the company is exposed to various risks in providing the above benefit which are as follows:

i) Interest rate risk

The plan exposes the company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability as shown in financial statements.

ii) Liquidity risk

This is the risk when the Company is not able to meet the short-term gratuity payouts. This may arise due to non availability of enough cash/cash equivalents to meet the liabilities or holding of illiquid assets not being sold in time.

iii) Salary escalation risk

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of employees in future. Deviation in the rate of interest in future for employees from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

iv) Demographic risk

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

v) Regulatory risk

Gratuity benefits are paid in accordance with the requirements of the Payment of Gratuity Act,1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts.

The estimates of rate of escalation in salary considered in actuarial valuation takes into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary. The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the estimated term of the obligations.

The significant actuarial assumptions for the determination of the defined benefit obligation are the attrition rate, discount rate and the long-term rate of compensation increase. The calculation of the net defined benefit liability is sensitive to these assumptions. The following table summarises the effects of changes in these actuarial assumptions on the defined benefit liability at 31 March 2023.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet.

The method and type of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

42 No adjustment is required to be made in the accounts in respect of :42 (A)

a. An area of 807 hectares (approximately) [31 March 2022: 807 hectares (approximate)], which is on a leasehold tenure falls under the provisions of the Gudalur Jenmam Estate (Abolition and Conversion into Ryotwari) Act, 1969. Company's appeal challenging the Order of the Settlement Officer rejecting its application for “Patta” was allowed by the District Court, Ooty and the matter is now remanded for denovo enquiry. The Settlement Officer by its order dated 22.10.2019 once again rejected the application for “Patta”. An appeal has been filed before the District Court, Ooty challenging the said order and the same is pending. Meanwhile, Madras High Court held that out of this area, the notification of 335 Hectares (31 March 2022: 335 Hectares) as forest by the Settlement Officer is valid and has directed that in the event of “patta” being granted in respect of the notified areas the same will stand modified to that extent.

b. An area of 2588 hectares (approximately) [31 March 2022: 2588 hectares (approximate)] liable to be surrendered to the Government of Kerala under the Kerala Private Forests (Vesting and Assignment) Act, 1971, as the appeals relating to this area are pending in the High Court of Kerala.

c. An area of 535 hectares (approximate) [31 March 2022: 535 hectares (approximate)] in respect of which cases filed by “Janmies” (original owners) of Lahai Estate challenging the validity of the lease is pending before the Sub-Court, Pathanamthitta and High Court of Kerala.

d. An area of 1982.45 hectares (31 March 2022: 1982.45 hectares) of Mooply Valley estates notified by the Government of Kerala for resumption alleging violation of lease conditions as proceedings has been stayed by the Sub Court, Irinjalakuda.

e. An area of 3123 hectares (31 March 2022: 3123 hectares) in respect of which a civil suit filed by Government of Kerala seeking declaration of title and recovery of possession of Kumbazha,Koney and Lahai rubber estates in Pathanamathitta district is currently pending consideration before the Subordiante Judges Court, Pathanamthitta.

f. An area of 2554 hectares (31 March 2022: 2554 hectares) in respect of which a civil suit filed by Government of Kerala seeking declaration of title and recovery of possession in respect of Isfield, Venture and Nagamallay rubber estates in Kollam district is currently pending consideration before Subordinate Judges Court, Punalur.

g. An area of 572 hectares (31 March 2022: 572 hectares) in respect of which a civil suit filed by Government of Kerala seeking declaration of title and recovery of possession of Mundakyam rubber estate in Kottayam district is currently pending consideration before Subordinate Judges Court, Pala.

h. An area of 992 Hectares in respect of which a civil suit filed by Government of Kerala seeking declaration of title and recovery of possession of Upper Surianalle Tea Estate in Idukki District is currently pending consideration before the Subordinate Judges Court Devikulam.

The above litigations are considered as Key audit matter.

42 (B)

a. An area of 178 hectares (approximately) [31 March 2022: 178 hectares (approximate)] deemed to have been vested with the Government of Kerala pursuant to Kerala Private Forests (Vesting and Assignment) Act, 1971, as the Company's claim for the exclusion of the area from the purview of the Act is pending decision of the Forest Tribunal,Palghat and restoration by the Forest Department.

b. The Vythiri Taluk Land Board's order directing the Company to surrender 707 hectares (approximately) [31 March 2022: 707 hectares (approximate)] as excess land under the Kerala Land Reforms Act, 1963 has been set aside by the High Court of Kerala on a revision petition filed by the Company and the matter has been remanded to the Vythri Taluk Land Board for fresh consideration and disposal.

c. An area of 415 hectares (approximately) [31 March 2022: 415 hectares (approximate)] held to be surplus under the Tamil Nadu Land Reforms (Fixation of Ceiling on Land) Act, 1961 as the Special Land Tribunal, Madras has remanded the matter for fresh consideration by the Authorised Officer, Coimbatore.

d. An area of 1074.18 hectares (approximate) [31 March 2022: 1074.18 hectares (approximate)] in respect of which cases filed by “Janmies” (original owners) of Koney, Kaliyar and Arrapetta Estates challenging the validity of the lease is pending before the Sub-Court, Pathanamthitta, Sulthan Bathery, Thodupuzha and High Court of Kerala.

e. The Government of Kerala vide G.O dated 27 June 2018 waived the levy of Seigniorage on rubber trees cut and removed from the rubber plantations. A writ petition has been filed before the Hon'ble High Court of Kerala challenging the said Government Order and the Hon'ble Court by interim order dated 18 February 2019 has permitted felling of trees on condition that a bond, undertaking to pay Seigniorage is furnished to the Government of Kerala, if ultimately the writ petition is allowed. The matter is pending consideration.

f. The Government by order dated 04 January 2008 directed the Company to remit an amount ' 96.84 lakhs alleging violation of lease condition in Mooply Valley Estates. The said order has been challenged before the Sub Court, Irinjalakuda and by order dated 08.04.2008 granted temporary prohibitory injunction restraining Government from taking any further action. On appeal filed by the Government, the Hon'ble High Court by judgment dated 04 August 2008 sustained the order of injunction and directed the Company to furnish security for ' 96.84 lakhs and accordingly the Company has furnished bank guarantee for the said amount and the suit is still pending.

g. An extent of approximately 142 Hectares of rubber planted area in Kumbazha Estate has been encroached by the members of Sadhu Jana Vimochana Samyuktha Vedi in 2007 and the Company filed a writ petition seeking eviction of the encroachers and Police protection to its property. By judgment dated 24 August 2007, the Hon'ble High Court directed the Government to evict the encroachers. However, the said direction was not complied with and a contempt case in this connection is still pending consideration before the Hon'ble High Court.

h. The Special Officer appointed by the Government had issued a notice under the Kerala Land Conservancy Act, for inspecting the properties of the company in Wayanad District. The company challenged the notice before the Hon'ble High Court of Kerala and by judgment dated 11 April 2018 the said notice was set aside by the Hon'ble Court. The

Government filed a review petition in the matter and by order dated 06 August 2018 the Hon'ble Court directed the Company to file its objections to the inspection notice. Accordingly the Company has filed its detailed objection with relevant documents with the Special Officer,who has intimated that since Government is filing a civil suit no further action is being initiated against the Company under Land Conservancy Act.

i. An area of 2.36 Hectares in respect of which a civil suit filed by Government of Kerala seeking declaration of title and recovery of possession of property in Mundakkal in Kollam District is currently pending consideration before the Subordinate Judges Court Kollam.

In the opinion of the management the outcome of above litigations will be in favour of the Company and there is no financial impact.

43 Lease

a. The Company has adopted Ind AS 116 on “Leases” with effect from 01 April, 2019 by applying it to all applicable contracts of leases existing on 01 April, 2019 by using modified retrospective approach.

b. The Company has recognised and measured the Right-of-Use (ROU, refer Note 3) asset and the lease liability over the remaining lease period and payments discounted using the incremental borrowing rate as at the date of initial application. For financial year ended 31 March, 2023, the depreciation for the ROU asset is ' 11.01 (31 March 2022: ' 11.01) and finance costs for interest accrued on lease liability is ' 39.86 (31 March 2022: ' 39.42).Lease payments made with respect to the applicable lease contracts during the year amounts to ' 36.56 (31 March 2022 : ' 36.76).

c. Lease payments amounting to ' 44.25 not recognised as a liability being short term or low value in nature and ' 31.88 not recognised as a liability being the same pertains to perpetual lease agreement.

d. Maturity analysis of the discounted cash flow of the lease liabilities

Income/expenses of a financial nature, and the assets/liabilities they are attributable to, have not been allocated to any segment as they are managed on a Company basis. Current taxes, deferred taxes and items of income and expense have not been allocated to any segment since these items are also managed on a Company basis.

47 Other regulatory disclosures

a) As per the information available with the Company, the Company has no transactions with the companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

b) There has been no charges or satisfaction yet to be registered with ROC beyond the statutory period.

c) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other

sources or kind of funds to any other persons or entities, 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 funding party (ultimate beneficiaries).

ii) provide any guarante, security or the like on behalf of the ultimate beneficiaries.

d) The Company has not received any fund from any persons or entities, 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) provided any guarantee, security or the like on behalf of the ultimate beneficiaries.

e) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year ended 31

March 2023.

f) The borrowings obtained by the Company from banks and financial institutions have been applied for the purposes for which such loans were taken.

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

h) No loans or advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013) either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.

i) No proceeding has 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.

j) The Company has not been declared as a wilful defaulter by any bank or financial Institution or other lender during the period.

k) The Company does not have any surrendered or undisclosed income during the year in the tax assessments under the Income Tax Act, 1961.

l) There are no approved scheme of arrangements as on the balance sheet date.

48. Prior year comparitives

Prior year comparatives have been regrouped / reclassified where necessary to conform with the current period / year classification.The impact of such restatements/ regroupings are not material to Standalone financial statements.