(h) Provisions

The Company recognizes a provision when: it has a present legal or constructive obligation as a result of past events; it is likely that an outflow of
resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognized for future operating
losses.

(i) Retirement and Other Benefits
Provident Fund

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than the contribution
payable to the provident fund. The Company recognizes contribution payable to the provident fund scheme as an expense, when an employee
renders the related service.

Gratuity

Gratuity, a defined benefit obligation for the confirmed employees, is provided on the basis of an actuarial valuation made at the end of each year on
projected unit credit method. The company used to have a Group Gratuity Scheme managed by Life Insurance Corporation of India (LIC) which was
dormant, now getting revived. The company shall make the necessary contribution at the end of each year as calculated by LIC. There were no
employees qualifying for Gratuity as on 31st March 2025 hence no provision has been made. In case of any employee giving up his/her retirement
and other employee benefits in writing, no provision being made for the same.

Compensated Absences

The Company has a policy on compensated absences which are both accumulating and non-accumulating in nature for the confirmed employees.
The expected cost of accumulating compensated absences is determined as per the method well accepted method.

Expense on non-accumulating compensated absences is recognized in the period in which the absences occur.

(j) Financial Instruments

(i) Financial Assets & Financial Liabilities
Initial Recognition and Measurement

All financial assets and liabilities are recognised initially at fair value.

In the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the
financial asset is treated as cost of acquisition. Purchases or sales of financial assets that require delivery of assets within a time frame established
by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to
purchase or sell the asset.

Impairment of Financial Assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost. The impairment
methodology applied depends on whether there has been a significant increase in credit risk.

(ii) Investments in Subsidiaries/ Associates/ Joint ventures

Investments in subsidiaries are carried at cost.

Derecognition

Financial asset or a liability (or, where applicable, a part of financial asset or a liability) is derecognised (i.e. removed from the Company's Balance
Sheet) when:

(a) The Contractual rights to cash flows from the financial asset or liability expires.

(b) The Company transfers its contractual rights to receive or incurr cash flows of the financial asset and liability respectively and has substanially
transferred all the risk & rewards of ownership of the financial asset or liability.

(k) Revenue Recognition

(i) Revenue from sale of goods is recognised net of returns, and trade discount, on transfer of significant risk and rewards in respect of ownership to
the buyer which is generally on dispatch of goods. Sales exclude sales tax and value added tax or GST.

(ii) Revenue from services is recognised when all relevant activities are completed and the right to receive income is established.

(iii) Revenue in respect of insurance/ other claims, commission, etc. are recognised only when it is reasonably certain that the ultimate collection
will be made.

(iv) Interest income is recorded using the effective interest rate (EIR) on accrual basis.

(l) Leases

Disclosure in accordance with Ind AS - 17 “Leases”, of the Companies (Indian Accounting Standards) Rules, 2015. The Company has taken the
office premises under leave and license agreements. The period is for 3 years under leave and license basis from February 2024. These
arrangements are renewable by mutual consent on mutually agreed terms. Under some of these arrangements the Company has given refundable
security deposits.

(m) Segment Reporting

Disclosure as required by Ind AS 108 “Operating Segment”, of the Companies (Indian Accounting Standards) Rules, 2015. In accordance with Ind
AS “Operating Segment”, the Company has only one reportable operating segment i.e. Internet & Retail Catalogue.

(n) Earning Per Share

Disclosure as required by Accounting Standard - Ind AS 33 “Earning Per Share” of the Companies (Indian Accounting Standards) Rules 2015. The
earning per share is calculated by dividing the profit after tax by weighted average number of shares outstanding for basic & diluted EPS.

(o) Taxes

Tax expenses comprise Current Tax and Deferred Tax.:

(i) Current Tax:

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate
for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The
current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period.

(ii) Deferred Tax:

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the
corresponding tax bases used in the computation of taxable profit. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be
utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a
business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting assets relate to the same
taxable entity and same taxation authority.

Deferred Tax Assets are recognized only to the extent there is virtual certainty supported by convincing evidence that they can be realized against

(iii) MAT Credit

Minimum Alternate Tax (MAT) paid in a year is charged to the Statement of Profit and Loss as current tax. The Company recognises MAT credit
available as an asset only to the extent that there is reasonable certainty that the Company will pay normal income tax during the specified period,
i.e., the period for which MAT credit is allowed to be carried forward. The MAT credit to the extent there is reasonable certainty that the Company
will utilise the credit is recognised in the Statement of Profit and Loss and corresponding debit is done to the Deferred Tax Asset as unused tax
credit.

(p) GST Credit

GST credit utilised during the year is accounted in GST liability and unutilised GST Tax credit at the year end is considered as duties and taxes
refundable.

(q) Market and Technology Development Expenses

Revenue expenditure on market and technology development is charged to Statement of Profit and Loss in the year in which it is incurred. Capital
expenditure in nature of acquiring licenses etc on marketing and technology development is considered as an addition to tangible assets.

(r) Applicability of New and Revised IND AS:

All the Indian Accounting Standards issued and notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standards)
Rules, 2015 (as amended) till the financial statements are authorized have been considered in preparing these financial statements.

(ii) Fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are measured at
amortised cost and for which fair values are disclosed in the financial statements.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes instruments like listed equity instruments,
traded bonds and mutual funds 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-thecounter 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.

(iii) Valuation Process

The finance department of the Company performs the valuations of financial assets and liabilities required for financial reporting purposes,
including level 3 fair values.

The carrying amounts of security deposit, cash and cash equivalents, current trade payables, book overdraft and short term borrowings are
considered to be the same as their fair values, due to their short-term nature.

22 Financial Risk Management

The Company has paused its Internet Retail business for the time being for further evaluation in the proces, technology and and overall business
activities. In the meanwhile, the company is exploring new lines of activities and may come up with its full launch in the coming months. Based on
its status, the company is exposed it to a variety of risks as stated below:

(a) . High Technology Obsolescence

Back bone of our past and new businesses is technology. A continuous investment (huge) is required to sustain the growth. If the financial
resources are not mobilized on timely basis and investment in technology stops, the business of the company would suffer adversely.

(b) . Competition:

We, like every business, face competition and therefore there is always a risk of competition in our existing and new businesses.

(c) . Financial Resources:

The company needs to invest in its new projects in Artifical Intelligence services and IT distribution. The company is making efforts for raising
resources. Delays in raising resources may impact operations and the growth plan of the company to a great extent. These delays are sometimes
beyond the control of the company.

(d) . Free Tradability on Exchange:

The company’s shares are traded on the BSE Limited (BSE). To maintain the exchange integrity and protect investors’ interest, BSE may impose
restrictionson trading of sharesin the company on exchange from time to time which may impact free tradability and consequently impact fresh
fund raising capability of the company.The company requires continuous fresh capital infusion till it reaches a threshold level.

23 Maturity Analysis

The table below summarises the contractual maturities & the maturity profile of the undiscounted cash flows of the Company’s financial assets
and liabilities.

25 Going Concern

The Company had been classified into the Graded Surveillance Measure (GSM - Stage 4 of GSM List) list by BSE. The criteria for classifying the
Company into GSM was not very clear to the Company. Consequent to its classifying into GSM and its restriction of free tradability of its shares,

the Company was unable to raise fresh capital for the business and hence suspended its operation with effect from 1st April 2017.

The impact of classifying the Company in GSM by BSE has led to trade restrictions and a complete roadblock in terms of raising additional capital
from new investors. The Company has been incurring constant losses and also the net worth of the Company has been fully eroded. If the
management is not able to infuse adequate money on appropriate time than the going concern assumption might get impacted. However, the
Audited financial results for the year ended 31st March 2025 of the Company are prepared on going concern basis since the Company commenced
revival of its business operations in software development and distribution during the year.

31 Unhedged Foreign Currency Exposure

The company does not have any foreign currency outstanding balance by any derivative instruments as at the Balance Sheet date.

32 The Company has not Traded in Crypto Currency or Virtual Currency During the Year

33 The Company is Not Required to Spend Any Amount in Terms of Provisions of Section 135 of the Act on Corporate Social Responsibility

34 In the opinion of the Board, Current Non-current Assets and Loans and Advances have a value on realization in the ordinary course of business, at
least equal to the amounts at which they are stated and adequate provision has been made for all known liabilities.

35 Balances appearing under certain heads of Other Financial Asstes (Current & Non Current), Borrowings, Trade Payables and Other Current
Liabilities are as per books of accounts and as such are subject to consequential adjustments, which may arise on receipt of confirmations and/or
completion of reconciliations.

43 Significant accounting judgments, estimates and assumptions:

The financial statements require management to make judgments, estimates and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the accompanying disclosures, and the disclosures of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in
future periods.

44 The Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, Statement of changes in equity, Statement of significant accounting
policies and the other explanatory notes forms an integral part of the financial statements of the Company for the year ended March 31, 2025

45 There were no transaction in the Company which is not recorded in the books of accounts that has been surrendered or disclosed as income
during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income
Tax Act, 1961

46 The Company is not declared a willful defaulter by any bank or financial institution or other lenders

47 The Company has no transactions with the struck off Companies under Section 248 or 560 of the Act.

48 No proceedings were initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988

49 There are no ultimate beneficiaries to whom the Company has lent/invested nor received any fund during the year within the meaning of Foreign
Exchange Management Act 1999 and Prevention of money Laundering Act 2002

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

51 The Company does not have any charges or satisfaction, which is yet to be registered with Registrar of Companies beyond the statutory period.

52 The Company has not borrowed any money from any issue of securities and long term borrowings from banks and financial institutions and hence
utlization for the specific purpose for which the funds were raised is not applicable

53 The company has not borrowed any money from banks or financial institutions on the basis of security of current assets and hence disclosure
pertaining to it are not applicable to the Company

54 Previous year’s figures have been regrouped /rearranged wherever considered necessary.

⁵⁵ Absolute amounts less than INR 50,000 are appearing in the financial statements as "0" due to presentation in Lacs.

As per our report of even date

For S M M P & Company For iStreet Network Limited

Chartered Accountants
FRN - 120438 W

Jugal Joshi Ravindra Kala Meenu Malu Surabhi Pal

Partner Independent Director Managing Director Company Secretary

(M.N. 149761) DIN No. 05117814 DIN No. 00444932

Mumbai, Date : 29th May 2025