1. Testing for impairment of goodwill:

As at 31 March 2023, the Company has INR 2,777.73 million (31 March 2022: INR 2,777.73 million) of goodwill allocated to the Company's Integrated facility management (IFM) CGU. The recoverable value was determined based on value in use.

The cash flows related to revenue and operating margins have been estimated based on historical trends and future market expectations specific to the CGU.

The growth in revenue estimations used in the impairment testing for the year ended 31 March 2023 was in the range of 15.00% to 20.00% (31 March 2022: 18.00% to 22.00%). The operating margin estimations used in the impairment testing for the year ended 31 March 2023 are in the range of 6.26% to 8.70% (31 March 2022: 6.96% to 8.06%).

Sensitivity to changes in assumptions:

An increase in pre-tax discount rate by 7.20 (31 March 2022: 4.72) percentage as compared to the table above of pre-tax discount rates used in value in use analysis of IFM CGU will result in recoverable amount being equal to the carrying value.

4.2 Reversal of impairment loss relating to customer relationships related to IFM business:

During the previous year, the Company had recognised reversal of impairment on these customer relationships grouped under intangible asset aggregating to INR 477.61 million which was impaired on 31 March 2020 after considering assessed impact of COVID-19. This reversal stems from the management's demonstrable assessment of sustainable improved business performance of the Integrated Facility Management (IFM) business at the operating profit level, which is in excess of the projections prepared for the purpose of previously recognising the impairment. The presentation and classification of the reversal is consistent with that of the previously recognised impairment.

* During the year ended 31 March 2022, the Company converted Compulsorily Convertible Debentures ("CCDs") of Monster.com (India) Private Limited into 3,104 equity shares amounting to INR 107.24 million. The Company also invested a further amount of INR 574.22 million in 7,216 equity shares through right issue at INR 79,576 per share.

** The Company was holding 70% equity stake in the non-controlling shareholder of Conneqt Business Solutions Limited ("CBSL"), a subsidiary of the Company. During the year ended 31 March 2022, dated 16 April 2021, the Administration and Investment committee of the Company had approved the acquisition of the remaining 30.00% equity stake for a consideration of INR 2,080 million. Consequently, the Company completed the acquisition of equity stake in CBSL on the same date, and CBSL became wholly owned subsidiary of the Company.

*** Other adjustments pertains to repayment of corporate guarantee commission invoiced to subsidiaries and other adjustment.

**** During the year ended 31 March 2022, the Company adjusted loans which was outstanding to be received from Heptagon Technologies Private Limited ("HTPL") into 1,902 equity shares amounting to INR 30.00 million. The Company had also invested a further amount of INR 100.00 million in 6,342 equity shares at INR 15,768 per share, which resulted in a holding of 60.67% at 31 March 2022. Consequently, HTPL had become subsidiary of the Company.

***** During the year ended 31 March 2022, the Company had made an additional investment in Stellarslog Technovation Private Limited for INR 80 million which resulted in increase in holding from 16% to 49%.

17.2 Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company's residual assets. The equity shareholders are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company. On winding up of the Company, the holders of the equity shares will be entitled to receive the residual assets of the Company, after distribution of all preferential amounts (if any) in proportion to the number of equity shares held.

20.1 The Company has taken cash credit and overdraft facilities having interest rate linked to 3M MCLR and Repo rate plus 0.45% (31 March 2022: MCLR and Repo rate plus 2.5%). These facilities are repayable on demand and are secured primarily by way of pari passu first charge on the entire current assets of the Company on both present and future and collateral by way of pari passu first charge on the entire movable assets of the Company (excluding charge on vehicles/equipments purchased /to be purchased under lease agreements/ hire purchase agreements) both present and future of the Company.

20.2 The Company has taken working capital loan from banks having interest rate ranging from 4.5% p.a. to 8.65% p.a.(31 March 2022: 4.5% p.a.-7.00% p.a.). These facilities are repayable on demand and are secured primarily by way of pari passu first charge on the entire current assets of the Company on both present and future and collateral by way of pari passu first charge on the entire movable assets of the Company (excluding charge on vehicles/equipments purchased /to be purchased under lease agreements/ hire purchase agreements) both present and future.

The Company's exposure to liquidity risk related to other current financial liabilities is disclosed in note 33.

23.2 The demands pertains to Aravon Services Private Limited ("ASPL") which was merged with Quess Corp Limited w.e.f 1 April 2019. The amounts provided represents the best estimate of likely outflow of resources relating to this matter.

23.3 The demands pertain to Avon Facility Management Services Limited ("Avon") which was merged with Quess Corp Limited w.e.f 1 January 2014. The demand pertains to non-payment of services tax on training services provided under Government of India initiative, the Company has not created any provision considering that Avon is a registered vocational training provider associated with the National Council for Vocational Training and service tax is not applicable on rendering of vocational education and training course.

23.4 The demands pertains to Hofincons Infotech & Industrial Services Private Limited which was merged with Quess Corp Limited w.e.f 1 July 2014. The Company deposited the total demand under dispute.

(i) Disaggregation of revenue

The above break up presents disaggregated revenues from contracts with customers by each of the business segments. The Company believes that this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors.

(iii) Performance obligations and remaining performance obligations

The remaining performance obligation disclosure provides the amount of the transaction price yet to be recognised as at the end of the reporting period and an explanation as to when the Company expects to recognise these amounts in revenue. Applying the practical expedient as given in Ind AS 115, the Company has not disclosed the value of remaining performance obligations for:

(i) contracts with an original expected duration of one year or less and

(ii) contracts for which the Company recognises revenue at the amount to which it has the right to invoice for services performed. The aggregate value of performance obligations that are completely or partially unsatisfied as of 31 March 2023, other than those meeting the exclusion criteria mentioned above, is INR 1,036.66 million (31 March 2022: INR 1,012.52 million). Out of this, the Company expects to recognise revenue of around 38.76% (31 March 2022: 78.03%) within the next one year and the remaining thereafter.

32.2 During the year ended 31 March 2023, the Company sold its 53% stake in Simptiance Technologies Private Limited (Simpliance) with a carrying value of INR 45 million to Aparajitha Corporate Services Limited (Aparajitha) and Dasa Consulting Private Limited, acting as a Trustee company of Poornatha Wellness Private Trust. Consequently, a gain on sale aggregating to INR 602.22 million is recorded as exceptional item during the year ended 31 March 2023.

32.3 During the year ended 31 March 2022, the Company recognised an expense of INR 479.81 million related to Goods and Service Tax (GST), based on a comprehensive internal review across its businesses, geographic locations and assessment years, including reconciliations with suppliers and vendors. Due to the pandemic related disruptions, this review was finally concluded during the current year. Based on such review the Company has, on a prudent basis, identified certain ineligible credits arising from vendor reconciliations, clarifications and opinions related to input credits, delays by vendors in filing GST returns, etc. and fully reconciled the related expense which the Company believes that this is an exceptional item in the extraneous circumstances involved and in the context of paragraph 9.6 of the guidance note on Schedule III to the Companies Act, 2013 issued by the Institute of Chartered Accountants of India ("ICAI").

Fair value hierarchy

Level 1: This hierarchy includes financial instruments measured using quoted prices. This comprises of investment in mutual funds and non-convertible debentures that have quoted price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

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

Fair valuation method

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. The following methods and assumptions were used to estimate the fair values.

A Financial assets:

1) Loans, trade receivables, cash and cash equivalents, bank balances other than cash and cash equivalents and other financial assets are short term and their carrying amounts are reasonable approximation of their fair value.

B Financial liabilities:

1) Borrowings: The current borrowings which includes cash credit and overdraft facilities and working capital loan, are classified and subsequently measured in the financial statements at amortised cost. Considering that the interest rate on the loan is reset on a monthly/quarterly basis, the carrying amount of the loan would be a reasonable approximation of its fair value.

2) Trade payables and other financial liabilities: Fair values of trade payables and other financial liabilities are measured at carrying value, as most of them are settled within a short period and so their fair values are assumed to be almost equal to the carrying values.

34 Financial risk management

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

• Credit risk;

• Liquidity risk; and

• Market risk

Risk management framework

The Board of Directors of the Company has overall responsibility for the establishment and oversight of the Company's risk management framework. The Company's risk management policies are established 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 policies and 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's audit committee oversees how management monitors compliance with the Company's risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and adhoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

i) 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 receivables (both billed and unbilled) from customers, loans and other financial assets. The objective of managing counterparty credit risk is to prevent losses in financial assets. The Company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors. The carrying amount of financial asset represent the maximum credit exposure.

Credit risk on cash and cash equivalents and other bank balances and bank deposits is limited as the Company generally invests in deposits with banks with high credit ratings assigned by domestic credit rating agencies. Other financial assets represent security deposits given to suppliers, lessors and others. Credit risk associated with such deposits is relatively low. Loans are given to subsidiaries and associates and are tested for impairment where there is an indicator.

Trade receivables (including unbilled)

Trade receivables (including unbilled) are typically unsecured and are derived from revenue from customers primarily located in India.

The Company has established a credit policy under which each customer is analysed individually for creditworthiness before the Company's standard payment and delivery terms and conditions are offered.

Expected credit loss assessment for customers are as follows:

The Company uses an allowance matrix to measure the expected credit loss of trade receivable (billed and unbilled). The Company's customers are bifurcated into two groups - Government and Non-Government customers. For Non-Government customers, the Company derives the loss rates based on historical credit loss experience, which is adjusted for forward looking information over the expected collection period. Exposure to customers is diversified and there is no single customer contributing more than 10% of trade receivable billed and unbilled. For government customers, given the insignificant credit risk, provision is recorded to reflect allowances for time value based on historical pattern of collections. Further, specific provision is recorded for customer specific disputes.

ii) Liquidity risk

Liquidity risk is the risk that the Company wilt 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.

Management monitors rolling forecast of the Company's liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company's objective is to maintain a balance between cash outflow and inflow. Usually, the excess of funds is invested in fixed deposits and other financial instruments. This is generally carried out in accordance with practice and limits set by the Company. The limits vary to take into account the liquidity of the market in which the Company operates.

Financing arrangement

The table below provides details regarding the contractual maturities of significant financial liabilities as at 31 March 2023 and 31 March 2022. The amounts are gross and undiscounted contractual cash flows and includes contractual interest payments and exclude netting arrangements. The Company has an undrawn limit of INR 7,980 million as at 31 March 2023 (31 March 2022: 7,309.92 million).

The Company has a strong focus on liquidity and maintains a robust cash position to ensure adequate cover for responding to potential short-term market dislocation. Cash generated through operating activities remains the primary source for liquidity along with undrawn borrowing facilities and levels of cash and cash equivalents.

iii) Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company's income or the value of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign currency receivables and payables and long term debt. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

a) Currency risk

The Company is not significantly exposed to currency risk as the Company's functional currency in INR and revenues and costs are primarily denominated in INR and therefore disclosures required under "Ind AS 107 - Financial Instruments: Disclosures" have not been given.

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's borrowing comprises of working capital loan which carries fixed rate of interest and which do not expose it to interest rate risk. The borrowings also includes cash credit facilities which carries variable rate of interest.

The sensitivity analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year. A 100 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management's assessment of the reasonably possible change in interest rates.

35 Capital management

The Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Company monitors the return on capital as well as the level of dividends on its equity shares. The Company's objective when managing capital is to maintain an optimal structure so as to maximise shareholder value.

The Company monitors capital using a ratio of 'adjusted net debt' to 'equity'. For this purpose, adjusted net debt is defined as aggregate of borrowings and lease liabilities less cash and cash equivalents.

37.1 Pending resolution of the respective proceedings, it is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above as it is determinable only on receipt of judgements/decisions pending with various forums/authorities. The Company is contesting the demand and the Management believes that its position will likely be upheld. The Management believes that the outcome of this proceedings will not have material adverse effect on the Company's financial position and results of operations.

37.2 Contingent liability of INR 325.88 million pertains to retrospective application effective 1 April 2014 for amendments in the Payment of Bonus Act (Amendment Act, 2015) enacted on 31 December 2015. As per the amendment, the eligibility criteria of salary or wages has been increased from INR 10,000 per month to INR 21,000 per month [Section 2(13)] and the ceiling for computation of such salary or wages has been increased from INR 3,500 per month to INR 7,000 per month or the minimum wage for the scheduled employment, as fixed by the appropriate government, whichever is higher.

During fiscal 2015, the Company obtained a legal opinion from an external lawyer and was advised to take a position that the stay granted by the two High Courts of India on the retrospective application of the amendment would have a persuasive effect even outside the boundaries of the relevant states and accordingly no provision is required. There have been no updates during fiscal 2022 and 2023.

37.3 During fiscal 2020, the Regional PF Commissioner ("RPFC") passed an under Section 7-A of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 ("Act") demanding INR 716.56 million on the grounds that the Company failed to remit Provident Fund ("PF") on wages for its employees for the period from April 2018 to March 2019 for certain components of salary. The Company filed an appeal before the Central Government Industrial Tribunal ("CGIT") under section 7-I of the Act challenging the Employees' Provident Fund Organisation's ("EPFO") order along with the application under Section 7-O of the Act seeking a waiver from pre-deposit of the alleged Provident Fund Contributions till the final disposal of the Appeal. The CGIT after hearing the submissions made by the parties passed an Order allowing complete waiver from any pre-deposit and also staying the operation of the EPFO order. The matter has been adjourned to 23 May 2023. The Company has taken external independent legal advice as per which the EPFO's order is prima facie erroneous and unsustainable in law and the liability has been incorrectly determined by the RPFC and therefore, the Company considers the claim to be remote.

37.4 Income Tax Matters:

During the year ended 31 March 2023, the Company received assessment order ('Order') under section 143(3) read with section 144C(13) of the Income Tax Act after completion of Dispute Resolution Panel ('DRP') proceedings for fiscal 2017-2018 resulting in disallowances primarily relating to deduction under section 80JJAA of the Income Tax Act and depreciation on goodwill. The Company has filed appeal with the Income Tax Appellate Tribunal relating to these disallowances. Further, during the year ended 31 March 2023, the Company also received a draft assessment order for fiscal 2018-2019 under section 144C(1) of the Income Tax Act in which primarily deduction under section 80JJAA of the Income Tax Act and depreciation on goodwill has been disallowed. The Company has filed objections before the DRP against the draft assessment order.

The Company intends to vigorously contest its position and interpretative stance of these sections on merits, including judicial precedents, and believes it can strongly defend its position through the legal process as defined under the Income Tax Act. Based on its internal evaluation, the Company has disclosed a contingent liability of INR 740 million for fiscal 2017-2018 and fiscal 20182019, excluding interest and penalties if any. The contingent liability will be updated as developments unfold in future.

The Company continues to maintain its stand on the manner of claiming the 80JJAA deduction and accordingly 80JJAA deduction of INR 1,824.01 million is claimed for the year ended 31 March 2023, respectively The Company believes that such deduction, including its quantum, has been validly and consistently claimed, in conformity with its interpretation of the statute.

A Funding

The Company's gratuity scheme for core and associates employees is administered through a third party manager, the Life Insurance Corporation of India, SBI Life and ICICI Prudential. The funding requirements are based on the gratuity funds actuarial measurement framework set out in the funding policies of the plan. The funding is based on a separate actuarial valuation for funding purpose for which assumptions are same as set out below. Employees do not contribute to the plan. The Company has determined that, in accordance with the terms and conditions of gratuity plan, and in accordance with statutory requirements (including minimum funding requirements) of the plan, the present value of refund or reduction in future contributions is not lower than the balance of the total fair value of the plan assets less the total present value of obligations.

The Company expects to pay INR 549.66 million contributions to its defined benefit plans in FY 2023-24.

B Reconciliation of net defined benefit liability/assets

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit liability/ assets and its components:

41 Share-based payments

A Description of share based payment arrangement

At 31 March 2023, the Company has the following share-based payment arrangements:

Share option plans (equity settled)

Quess Corp Limited Employee Stock Option Scheme 2015 (“Scheme 2015")

The Board of Directors in its meeting held on 22 December 2015 approved the 'Quess Corp Limited Employee Stock Option Scheme 2015' ('Scheme 2015'), under which stock options are granted to specified employees of the Company. The Scheme 2015 provides for the issue of not more than 475,000 options (1,900,000 bonus adjusted options) with an exercise price of INR

10.00 each that would eventually convert into equity shares of INR 10.00 each. The options vest over a period of three years and are exercisable over a period of three years from the vesting date of each tranche. As at 31 March 2023, the Company has 27,841 (31 March 2022: 41,263) exercisable options outstanding.

Quess Stock Option Plan 2020 (“Scheme 2020")

The Board of Directors in its meeting held on 31 March 2020 approved the Quess Stock Ownership Plan - 2020 ("QSOP 2020"), under which stock options are granted to specific employees of the Company and its subsidiaries. The maximum number of shares under QSOP 2020 shall not exceed 3,650,000 equity shares. The stock options granted under QSOP 2020 shall vest based on the achievement of defined annual performance parameters as determined by the administrator (Nomination and Remuneration Committee). These instruments will be equity settled and will generally vest between a minimum of 1 to maximum of 6 years from the grant date. As at 31 March 2023, the Company has 88,130 (31 March 2022: 43,676) exercisable options outstanding.

B Measurement of fair values Scheme 2015

The fair value of Employee Stock Options has been measured using Black Scholes Model of pricing.

The fair value of the options and the inputs used in the measurement of the grant-date fair values of the equity-settled share based payment plans are not disclosed since no ESOP's under this scheme was granted during the year.

No options have expired during the current year and previous year.

Scheme 2020

The fair value of Employee Stock Options has been measured using Black Scholes Model of pricing.

EFDS= Net Profit After taxes Non cash operating expenses tike depreciation and Other amortizations Interest other adjustment tike profit/(toss) on sate of property, plant and equipment and intangible assets

^APrincipat repayments and tease payments for the current year

^AA Net worth Borrowings Lease liabilities - Goodwill - Intangible assets under development - Other intangible assets -Deferred tax assets

43.1 In the current year, there has been a decrease in Profit after tax and increase in repayment of borrowings during the year, resulting in decrease in Debt service coverage ratio.

43.2 Inventory turnover ratio has increased due to increase in cost of materials consumed as a result of increase in operations.

43.3 During the current year, the turnover has increased and the net working capital has decreased due to tower bank balances, and increased tiabitities, resutting into an increase in the Net Capitat Turnover ratio.

43.4 In the current year, there has been decrease in profits due to tesser dividend received from subsidiaries resutting in decrease in Net profit ratio.

45 The Board of Directors of the Company at its meeting hetd on 7 Juty 2021 considered and approved the revised Scheme of Amatgamation ("Scheme AAA") among Quess Corp Limited ("Transferee Company") with three of its whotty owned subsidiaries viz. MFX Infotech Private Limited ("MFXI") and Greenpiece Landscape India Private Limited ("GLPL") and Conneqt Business Sotutions Limited ("CBSL") together known as ("Transferor Companies") and their respective sharehotders and creditors under the provisions of Section 230-232 of the Companies Act, 2013 subject to the necessary approvats by the nationat Company Law Tribunat (NCLT), Bengaturu branch. The Scheme AAA witt be effected in the standatone financiat resutts once it is approved by Nationat Company Law Tribunat ("NCLT"), Bengaturu Bench. The appticant companies had fited the apptication before Hon'bte NCLT, Bengaturu bench on 21 January 2022 and received order dated 30 November 2022 for dispensation of the meetings of Equity Sharehotders, Secured Creditors and Unsecured Creditors of Appticant Companies and direction to issue notices to the creditors and the statutory authorities specified in the order. Further, the appticant companies after the due comptiance fited the Company petition on 9th January, 2023 for sanctioning of the Scheme. The Hon'bte NCLT has admitted the petition and the next date of hearing is 13 June 2023.

46 The Code on Sociat Security, 2020 ("Code") retating to emptoyee benefits during emptoyment and post-emptoyment benefits received Presidentiat assent in September 2020. The Code has been pubtished in the Gazette of India. However, the date on which the Code witt come into effect has not been notified. The Company witt assess the impact of the Code when it comes into effect and witt record any retated impact in the period the Code becomes effective.

47 "The Board of Directors at their meeting hetd on 31 May 2022 dectared interim dividend of INR 4.00 per equity share (face vatue of INR 10.00 each) for the previous financiat year aggregating to INR 591.97 mittion which was paid on 21 June 2022.

The Board of Directors at their meeting hetd on 9 November 2022 dectared interim dividend of INR 8.00 per equity share (face vatue of INR 10.00 each) for the financiat year 2022-23 aggregating to INR 1,185.18 mittion which was paid on 29 November 2022.

The Company is in comptiance with Section 123 of the Act.

48.1 No funds have been advanced or toaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, inctuding foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shatt tend or invest in party identified by or on behatf of the Company (Uttimate Beneficiaries). The Company has not received any fund from any party (Funding Party) with the understanding that the Company shatt whether, directty or indirectty tend or invest in other persons or entities identified by or on behatf of the Company ("Uttimate Beneficiaries") or provide any guarantee, security or the tike on behatf of the Uttimate Beneficiaries.

48.2 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:

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

48.3 As per the MCA notification dated August 05, 2022, the Central Government has notified the Companies (Accounts) Fourth Amendment Rules, 2022. As per the amended rules, Companies are required to maintain back-up of the 'books of account and other relevant books and papers' ('books of account') in electronic mode that should be accessible in India at all the time. Also, the Companies are required to create backup of accounts on servers physically located in India on a daily basis.

The books of account of the Company is maintained in electronic mode on servers physically located in India and are readily accessible in India at all times. The Company is maintaining backup of books of account on a daily basis, except for one application where the Company has maintained the backup on quarterly basis.

49 Other Disclosure

49.1 The Company has not been declared wilful defaulter by any bank or financial institution or Other lender.

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

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

50 The Company evaluated subsequent events through 17 May 2023, which is the date on which the standalone financial statements are approved by the Board of Directors. Based on this evaluation, the Company is not aware of any other event or transaction that would require recognition or disclosure in the standalone financial statements.

51 Previous year's figures have been regrouped / rearranged wherever necessary.