^A Debenture Redemption Reserve: Previously the Company had issued redeemable non-convertible debentures and created DRR out of the profits of the Company in terms of the Companies (Share capital and Debenture) Rules, 2014 (as amended). The Company was required to maintain a DRR of 25% of the value of debentures issued, either by a public issue or on a private placement basis. The amounts credited to the DRR is not to be utilised by the

Company except to redeem debentures. During the previous year ended 31 March 2024 The Company had redeemed the total debentures and reversed the debenture redemption reserve by transferring the balance to retained earnings.

**Money received against convertible share warrant:- During the previous year, the Company had issued 1,62,29,862 convertible share warrants at the price of H 328.05 per share warrant as determined by the Board in accordance with the pricing guidelines prescribed under Regulation 164(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations") by way of private placement to four investors for a total consideration of H 53,242.06 lakhs.

The terms of the allotment as are follows:

1. The warrant holders shall, subject to the ICDR regulations and other applicable rules, regulations and laws, be entitled to exercise the warrants in one or more tranches within a period of 18 (Eighteen) months from the date of allotment of the warrants by issuing a written notice to the company specifying the number of warrants proposed to be exercised. The company shall accordingly issue and allot the corresponding number of equity shares of face value of H 10/- each to the warrant holders.

2. An amount equivalent to 25% of the warrant Issue price shall be payable at the time of subscription and the balance 75% shall be payable by the warrant holder(s) on the exercise of the conversion of warrant(s) into equity shares. The warrant holders have paid H 13,311.73 lakhs, equivalent to 25.0023% of the warrant issue price as on March 31,2025

3. In the event that, warrant holder(s) does not exercise the warrants within a period of 18 (Eighteen) months from the date of allotment of such warrants, the unexercised warrants shall lapse and the amount paid by the warrant holders on such warrants shall stand forfeited by company.

4. The price determined above and the number of equity shares to be allotted on exercise of the warrants shall be subject to appropriate adjustments as permitted under the rules, regulations and laws, as applicable from time to time.

5. Apart from the said right of adjustment mentioned above, the warrants by themselves, until exercise of the conversion option and allotment of equity shares, do not give the warrant holder thereof any rights akin to that of shareholder(s) of the company.

6. The company shall procure the listing and trading approvals for the equity shares to be issued and allotted to the warrant holders upon exercise of the warrants from the stock exchanges in accordance with the listing regulations and all other applicable laws, rules and regulations.

7. The equity shares so allotted on exercise of the warrants shall be in dematerialized form and shall be subject to the provisions of the memorandum and articles of association of the company and shall rank pari-passu in all respects including dividend, with the then existing equity shares of the company.

8. The warrants and equity shares issued pursuant to the exercise of the warrants shall be locked- in as prescribed under the ICDR regulations from time to time.

12.1 There is no debt securities measured at FVTPL or designated at FVTPL

12.2 Details of terms of repayment and securities provided in respect of secured loans are as under:

1) Non-Current borrowings a) Term Loan from Banks

- The securities provided for the term loan from banks amounting to J 8,973.06 lakhs (P.Y. J 3,812.31 lakhs) are as follows:

i. Personal guarantee of Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company.

ii. The loans are secured by way of hypothecation of the respective vehicles/construction equipments/aircraft/other financed assets.

- The above loans carry interest rates ranging from 7.50% to 12.00%. The loans are repayable in monthly installments along with interest.

b) Loan from financial institutions

- The securities provided for the term loan from financial institutions amounting to J 7,955.67 lakhs (P.Y. J 11,997.20 lakhs) are as follows:

i. Personal guarantee of Mr. Dilip Suryavanshi, the Chairman and Managing Director of the Company.

ii. The loans are secured by way of hypothecation of the respective vehicles/construction equipments/other financed assets.

- The securities provided for the Term loan from financial institutions amounting to J NIL lakhs (P.Y. J 1,138.51 lakhs ) is as follows:

i. Pledge of 16,00,000 equity shares of the company in previous year which was held by Mr. Dilip Suryavanshi, the Chairman and Managing Director of the Company and Mr. Devendra Jain, the Managing Director CEO of the company.

ii. Personal guarantee of Mr. Dilip Suryavanshi, the Chairman and Managing Director of the Company and Mr. Devendra Jain, the Managing Director and CEO of the Company as given in the previous year.

- The above loans carry interest rates ranging from 8.00% to 12.50%. The loans are repayable in monthly installments along with interest.

2) Current borrowings

a) Loans payable on demand from Banks

i. Hypothecation of unencumbered plant and machinery and equipments

ii. Pledge of fixed deposit receipts standing in the name of the Company. (other than FDR kept as margin money for availing non fund based facilities)

iii. Pledge of 1,25,00,000 equity shares (P.Y. 1,25,00,000 equity shares) of Dilip Buildcon Limited held by Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company and Mr. Devendra Jain, the CEO & Managing Director of the Company.

iv. Pari Passu charge of all lender banks by of hypothecation of stock of Material, Stock-in-process i.e. Cement, Steel, Steel Pipes, Gitty, Murram, Boulders, Diesel, Bituminous, Oil Grease etc. used in construction works at various sites of the company, work in progress, completed projects along with book-debts and the government receivables there against.

v. Personal guarantee of Mr. Dilip Suryavanshi, the Chairman & Managing Director of the company, Mrs. Seema Suryavanshi, relative of the Chairman & Managing Director of the Company, Mr. Devendra Jain, the CEO & Managing Director of the Company and Mrs. Preeti Jain, relative of the CEO & Managing Director of the Company.

vi. Guarantee of the firm M/s B. S. Associates

vii. The collateral securities provided for the above loans are as follows:

Pari passi charge of all lender banks by way of extension of equitable mortgage of the following Immovable properties:

1) Vacant plot khasra No. 9/1/2/1/4 situated at vill. Banjari, Kolar Road, Bhopal standing in the name of, Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company.

2) Vacant plot at Khasra No. 83/2/1, P.H.No.35; R.N.M. - 4, vill. Chhapri, Ratibad Bhopal, standing in the name of, Mrs. Seema Suryavanshi, the relative of the Chairman & Managing Director of the Company.

3) Plot at khasra No. 235 (Old 85,86/1,87/23) ; Patwari Halka No. 35, Vill. Chhapri, Ratibad Tehsil- Huzur; Dist. Bhopal, standing in the name of, Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company and Mrs. Seema Suryavanshi, the relative of the Chairman & Managing Director of the company.

4) Diverted land at khasra No 56ja (Old khasra No. 56) at Village Sevania Gond PH No. 40, Vikas Khand - Phanda, Tehsil Huzur, Dist. Bhopal, standing in the name of, Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company.

5) Diverted land at khasra No 56jha (Old khasra No. 56) at Village Sevania Gond PH No. 40, Vikas Khand - Phanda, Tehsil Huzur, Dist. Bhopal, standing in the name of, Mrs. Seema Suryavanshi, the relative of the Chairman and Managing Director of the Company.

6) Diverted land at survey No. 9/1/2/1/5, Gram Banjari, Near Ganpati Enclave, Ph no. 39, Kolar Road, Tehsil Huzur, Bhopal standing in the name of relative of, Mr.Dilip Suryavanshi, the Chairman & Managing Director of the Company.

7) Land at part khasra No. 315/2, Patwari Halka No. 35 R N M - 4, Gram Chhapri (Ratlam) Vikas KhandFanda, Tehsil Huzur, Bhopal. Standing in the name of, Mr. Dilip Suryavanshi, the Chairman & Managing Director of the Company and Mrs. Seema Suryavanshi, the relative of the Chairman & Managing Director of the Company.

8) Immovable property at khasra no. 51/1/2/1, 51/1/2/2, 51/1/2/3, 51/1/2/4, behind Halalpura Bus Stand, Bhopal standing in the name of B. S. Associates (partnership firm).

9) House on plot No C/2, C/3A, C/14, C/15, Falaudi Colony, New Ward No 15, near Swami Vivekanand Public School, Rajgarh standing in the name of, Mrs. Preeti Jain, relative of the CEO & Managing Director of the Company .

The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data available. In addition, the company internally reviews valuations, including independent price validation for certain instruments. Further, in other instances, Company retains independent pricing vendors to assist in corroborating the valuations of certain instruments.

The fair value of the financial assets and liabilities are included at the amount at which the instrument that would be received to sell an asset or paid to transfer liability in an orderly transaction between market participants at the measurement date.

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

* The Company has not disclosed the fair values of trade payables, trade receivables, other bank balances and cash and cash equivalents because their carrying amounts are reasonable approximations of fair value.

Fair value of security deposits have been estimated using a discounted cash flow model. The valuation requires management to make certain assumptions about interest rates, maturity period, credit risk, forecasted cash flows.

Long-term fixed-rate and variable-rate receivables/borrowings are evaluated by the Company based on parameters such as interest rates, individual creditworthiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are taken into account for the expected credit losses of these receivables. As of reporting date the carrying amounts of such receivables, net of allowances are not materially different from their calculated fair values.

Carrying value of loans from banks, other non current borrowings and other financial liabilities is estimated by discounting future cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities. The own non- performance risk as at reporting date was assessed to be insignificant.

Fair value hierarchy

The following table provides the fair value measurement hierarchy of the Company's assets and liabilities grouped into Level 1 to Level 3 as described in significant accounting policies - Note 1. Further table describes the valuation techniques used, key inputs to valuations and quantitative information about significant unobservable inputs for fair value measurements.

Note 32: Employee Benefits :

i Defined Contribution Plans:

a) Amount of H 3,433.40 lakhs (P.Y. H 3,953.08 lakhs) is recognised as an expense and included in "Employees benefits expense" (Note 22) in the Profit and Loss Statement.

b) The expenses for leave entitlement recognised in the Profit and Loss Statement is H 441.40 lakhs (P.Y. H 518.96 lakhs) and is included under 'Employee's welfare and Other amenities' in "Employee benefits expenses" (Note 22) in the Profit and Loss Statement.

Basis used to determine the overall expected return:

The net interest approach effectively assumes an expected rate of return on plan assets equal to the beginning of the year Discount Rate. Expected return of 6.60% (P.Y. 7.20%) has been used for the valuation purpose.

h) Principal actuarial assumptions at the balance sheet date (expressed as weighted averages)

i) Discount rate as at 31-03-2025 - 6.60%

ii) Expected return on plan assets as at 31-03-2025: 6.60%

iii) Salary growth rate : For Gratuity Scheme - 8.00%

iv) The estimates of future salary increase considered in actuarial valuation take into account inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

j) General descriptions of defined plans:

1 Gratuity Plan:

The Company operates a gratuity plan wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement whichever is earlier. The benefit vests after five years of continuous service.

k) The Company's expected contribution towards its gratuity plan in the year 2025-26 will be of H 875.00 lakhs.

Note 33: Financial risk management policy and objectives

The key objective of the Company's capital management is to ensure that it maintains a stable capital structure with the focus on total equity to uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company is focused on maintaining a strong equity base to ensure independence, security, as well as financial flexibility for potential future borrowings, if required without impacting the risk profile of the Company.

The Company's principal financial liabilities, comprise borrowings from banks, trade payables and security deposits ( in the form of amount withheld from contractors) . The main purpose of these financial liabilities is to finance Company's operations (short term). Company's principal financial assets include investments, security deposit, trade and other receivables, deposits with banks and cash and cash equivalents, that derive directly from its operations.

The Company is exposed to market risk, credit risk and liquidity risk.

i) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk interest rate risk, currency risk and other price risk such as equity price risk and commodity risk. Financial instruments affected by market risk include borrowings, trade and other payables, security deposit, trade and other receivables, deposits with banks.

The sensitivity analysis in the following sections relate to the position as at 31 March 2025 and 31 March 2024. The sensitivity of the relevant income statement item is the effect of the assumed changes in respective market risks. The sensitivity analysis have been prepared on the basis that the amount of net debt and the ratio of fixed to floating interest rates of the debt are constant at 31 March 2025.

a) Foreign Currency Risk

Foreign currency risk is the risk that the Fair Value or Future Cash Flows of an exposure will fluctuate because of changes in foreign currency rates. Exposures can arise on account of the various assets and liabilities which are denominated in currencies other than Indian Rupee.

ii) Credit risk

a) Credit risk on trade receivables and unbilled work-in-progress is limited as the customers of the Company mainly consists of the government promoted entities having a strong credit worthiness. For other customers, the Company uses a provision matrix to compute the expected credit loss allowance for trade receivables and unbilled work-in-progress. The provision matrix takes into account available external and internal credit risk factors such as credit ratings from credit rating agencies, financial condition, ageing of accounts receivable and the Company's historical experience for customers.

b) Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company in accordance with the Company's policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. The Company monitors rating, credit spreads and financial strength of its counter parties. The Company monitors ratings, credit spread and financial strength of its counter parties. Based on ongoing assessment company adjust it's exposure to various counterparties. The Company's maximum exposure to credit risk for the components of balance sheet is the carrying amount as disclosed in Note 8.

iii) Liquidity risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash flow and collateral obligations without incurring unacceptable losses. The Company's objective is to, at all time maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity position and deploys a robust cash management system. It maintains adequate sources of financing at optimised cost.

Note 34: Capital management

For the purpose of the Company's capital management, capital includes issued equity capital, share premium and all other equity reserves. The primary objective of the Company's capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

e. The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due.

f. Rental expense recorded for short-term leases was H 2,648.12 lakhs (P.Y. H 3,176.13 lakhs) for the year ended 31 March, 2025 as shown in Note 20.

Note 37: There are no amounts due and outstanding to be credited to Investor Education and Protection Fund as at 31 March 2025.

Note 38: Segments have been identified in accordance with Indian Accounting Standards (Ind AS) 108 on Operating Segments considering the risk or return profiles of the business. As required under Ind AS 108, the Chief Operating Decision Maker (CODM) evaluates the performance and allocates resources based on analysis of various performance indicators. Accordingly, information has been presented for the Group's operating segments and the Company has identified business segment as primary segment. The reportable segment is Construction and Engineering Contracts and the business of Construction and Development of Real Estate is at a nascent stage and no actual operations have commenced.

Note 39: Royalty on use of construction material is determined by the concerned authorities and the amount of Royalty payable as at year end has not been ascertained in absence of necessary confirmation from the said authorities and the management does not consider the same to be substantial and material.

Note 40: The Company along with its wholly owned subsidiary company "DBL Infra Assets Private Limited" ("DIAPL") had executed a non-binding term sheet, with "Shrem lnvlT" (an infrastructure investment trust, registered under Indian Trust Act 1882 with Securities and Exchange Board of India) on 21 January 2022, for transferring their investment in equity share capital and promoter's unsecured loan in respect of 10 subsidiary companies (Hybrid Annuity Model ("HAM") projects) at expected consideration of H 2,34,900.00 lakhs. Equity transfer to Shrem lnvlT shall be completed in a progressive manner after the completion of the projects, subject to receipt of approvals from the respective project lenders and National Highways Authority of India. The consideration will be received in form of units of the InvIT/cash in form of bank transfer.

During the year ended 31 March 2024 in the books of Dilip Buildcon Limited, remaining 51% stake of investment in DBL Chandrakhole Bhadrak Highways Limited, DBL Bangalore-Nidagatta highway private limited, DBL Nidagatta-Mysore Highway Private limited and

30% stake of investment in DBL Rewa Siddhi Highways Private Limited was transferred to Shrem InvIT. against its aggregate value of H 20,983.06 lakhs were received as a consideration towards sale of equity shares.

During the year ended 31 March 2025, the company divested its 51% equity stake in the HAM project, DBL Pathrapalli-Katghora Highways Limited, for an aggregate consideration of H 3,752.00 lakhs. with this the divestment of 100% equity in 10 HAM Asset to Shrem InvIT is completed.

The Company has earned profit of H 1,931.80 lakhs ( P.Y. loss of H 6,502.25 Lakhs) during the financial year ended 31 March 2025. which is disclosed as a part of an 'exceptional item' in the Statement of Profit and Loss.

Note 41 : As per Rule 18(7) of the Companies (Share Capital and Debentures ) Rules, 2014, the Company had to create a Debenture Redemption Reserve for the purpose of redemption of debentures at the rate of 25% of the value of the outstanding debentures.

During the year ended 31 March 2024, the Company has redeemed 8.75% 500 Non Convertible Debentures of H 10 Lakhs each and 8.67% 500 Non Convertible Debentures of H 10 Lakhs each, aggregating to H 10,000 lakhs.

During the year ended 31 March 2024, Debenture having value of H 10,000 Lakhs has been redeemed and Debenture Redemption Reserve amount of H15,000 Lakhs has been transferred from ''Debenture Redemption Reserve” to "Retained Earnings".

Note 42 : The Company along with its wholly owned subsidiaries company had executed a non-binding term sheet, with "Alpha Alternatives Holdings Private Limited and its associates" on 01 Nov-2023, for transferring their investment (Equity share capital/ unsecured loan/Non convertible Debenture) in respect of 18 wholly owned subsidiary companies (Hybrid Annuity Model ("HAM") projects) at expected consideration of H 1,55,000 lakhs. Investments transfer to Alpha group shall be completed in a progressive manner after the completion of the projects, subject to receipt of approvals from the respective project lenders and National Highways Authority of India. The consideration will be received in form of bank transfer

During the year ended 31 March 2024 in the books of Dilip Buildcon Limited, 26% stake of Dodaballapur-Hoskote Highway Private Limited ("DHHPL"), Repellewada Highway Private Limited ("RHPL") and Dhrol-Bhadra Highways Limited was transferred to Alpha alternative group and H 13,016.68 lakhs were received as a consideration towards sale of investments.

During the year ended 31 March 2025, the Company divested its 26% equity stake in four HAM projects-Viluppuram Highways Ltd, Bangalore Malur Highways Limited, Malur Bangarpet Highways Limited and Narenpur Purnea Highways Ltd & divested 24.99% equity stake in Poondiyankuppam Highways Ltd to the Alpha Group, for a cash consideration of H 22,691.84 lakhs.

The Company has earned profit of H 14,741.66 lakhs (P.Y. H 7,339.06 lakhs) on all these transactions and disclosed as a part of 'exceptional item' in the statement of Profit and Loss.

Note 43 : During the year ended 31 March 2024, the Company sold 63,32,000 units of Shrem InvIT for a cash consideration of H 7,099.06 lakhs, resulting in a profit of H 43.46 lakhs. This profit is disclosed as a part of an 'exceptional item' in the Statement of Profit and Loss.

During the year ended 31 March 2025, the company sold 1,27,15,000 units of investment in Shrem InvIT for a cash consideration of H 13,649.50 lakhs. The Company earned a profit of H 2,091.77 lakhs, which is disclosed as a part of an 'exceptional item' in the Statement of Profit and Loss.

Note 44 : During the year ended 31 March 2024, the Company received approval from the relevant authority for the claim made under 'change in law' regarding Goods and Service Tax in relation to three HAM projects, amounting to H 20,847.00 lakhs. This amount will be received along with the annuity by the respective SPVs. However, these three HAM projects were sold to Shrem InvIT in an earlier year, and this claim was accounted for as 'deferred consideration,' to be received by the Company once the claim is approved.

As per the valuation matrix agreed with Shrem InvIT , DBL to receive the net present value of the claim upfront. The net present value against deferred consideration, H 6,424.00 lakhs received during the financial year ended 31 March 2024 & H 891.62 lakhs during the financial year ended 31 March 2025 which was disclosed as an 'exceptional item' in the Statement of Profit and Loss.

Note 45: During the financial year ended 31 March 2025 the Company has invested H 14,920.00 Lakhs in unit of Alpha Alternatives Infrastructure fund and 1,49,19,254 unit alloted on 31 March 2025 and these are at fair value.

Note 46: The Board of Directors has recommended a dividend of H 1 per fully paid up equity share of H 10 each for the financial year ended 31 March 2025. This payment of dividend is subject to approval of shareholders of the Company at ensuing Annual General Meeting of the Company.

The Board of Directors had recommended a dividend of H 1 per fully paid-up equity share of H 10 each for the financial year ended 31 March 2024. The dividend was subsequently approved by the shareholders at the Annual General Meeting & paid during the financial year ending 31 March 2025.

Note 49 : Disclosure as per Ind AS 115 - Revenue from Contract with Customers

(a) Contract with Customers

The Company has recognised H 8,76,522.47 lakhs (P.Y. H 10,34,847.41 lakhs) as revenue from Contracts with customers during the year.

(b) Disaggregation of Revenue

Segments have been identified in accordance with Indian Accounting Standards (Ind AS) 108 on Operating Segments considering the risk or return profiles of the business. As required under Ind AS 108, the Chief Operating Decision Maker (CODM) evaluates the performance and allocates resources based on analysis of various performance indicators. Accordingly, information has been presented for the Group's operating segments and the Company has identified the business segment as the primary segment. The reportable segment is Construction and Engineering Contracts and the business of Construction and Development of Real Estate is at a nascent stage and no actual operations have commenced.

Therefore the Company has identified the reportable segment as 'Construction and Engineering Contracts' and it believes that this identification best depicts show the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors.

Revenue for construction contracts is recognised in profit or loss in proportion to the stage of completion of the contract. The stage of completion is assessed by reference to surveys of work performed. Otherwise, contract revenue is recognised only to the extent of contract costs incurred that are likely to be recoverable. Revenue in excess of billings is recognised as Unbilled revenue and is classified as Financial Asset for these cases as right to consideration is unconditional upon passage of time.

During the year ended March 31, 2025, H 1,25,395.54 lakhs (P.Y. H 1,26,509.45 lakhs) of opening unbilled revenue has been either reclassified to Trade Receivables upon billing to customers on completion of milestone or has been part of closing unbilled revenue.

Changes in Contract Assets and Contract Liabilities are on account of transactions undertaken in the normal course of business. (d) Performance Obligations

The Company has applied the practical expedient as provided in Ind AS 115 and excluded the disclosure relating to remaining performance obligation for:

(i) Contracts where the original expected duration is one year or less

(ii) Contracts where the revenue recognized corresponds directly with the value to the customer of the entity's performance completed to date. Typically this involves those contracts where invoicing is on time and material basis.

Remaining performance obligation estimates are subject to change and are affected by several factors such as terminations, changes in the scope of contracts, periodic revalidations of estimates and other macro economic factors.

The aggregate amount of transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as at March 31, 2025, after considering the practical expedient mentioned above is H 14,92,270.00 lakhs (P.Y. H 17,43,161.20 lakhs) out of which 60% is expected to be recognised as revenue within the next one year and the balance thereafter.

Note 50 : Additional disclosures as per Schedule III of the Companies Act 2013

(i) During the financial years ended 31 March 2025, the Company has granted loans to the related parties (wholly owned subsidiaries as defined under the Companies Act, 2013), which is repayable on demand.

(ii) There is no benami property held by the Company and no proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(iii) The Company has not entered in to any transactions during the year with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.

(iv) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

(v) Utilisation of Borrowed funds and share premium:

A) 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 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;

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.

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

(vii) There are no transactions which have not been recorded in the books of accounts and have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961. Also, there are no previously unrecorded income and related assets.

Note 52 : Figures relating to previous years have been regrouped / rearranged, wherever necessary, to conform to current period presentation.