H) Provision

Provisions are recognised in the balance sheet when the Company has a present obligation (legal or constructive) as a
result of a past event, which is expected to result in an outflow of resources embodying economic benefits which can
be reliably estimated. Each provision is based on the best estimate of the expenditure required to settle the present
obligation at the balance sheet date. Where the time value of money is Significant, provisions are measured on a
discounted basis.

Constructive obligation is an obligation that derives from an entity’s actions where:

(a) by an established pattern of past practice, published policies or a sufficiently specific current statement, the entity
has indicated to other parties that it will accept certain responsibilities and;

(b) as a result, the entity has created a valid expectation on the part of those other parties that it will discharge those
responsibilities.

I) Onerous contracts

A provision for onerous contracts is recognised when the expected benefits to be derived by the Company from a
contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured
at the present value of the lower of the expected cost of terminating the contract and the expected net cost of
continuing with the contract. Before a provision is established, the Company recognises any impairment loss on the
assets associated with that contract.

J) Income taxes

Tax expense for the year comprises current and deferred tax. The tax currently payable is based on taxable profit for
the year. Taxable profit differs from net profit as reported in the statement of profit and loss because it excludes items
of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable
or deductible. The Company’s liability for current tax is calculated using tax rates and tax laws that have been enacted
or substantively enacted by the end of the reporting period.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying values of assets and
liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit and is
accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable
temporary differences. In contrast, deferred tax assets are only recognised to the extent that it is probable that future
taxable profits will be available against which the temporary differences can be utilised.

The carrying value of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that
it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the
asset is realised based on the tax rates and tax laws that have been enacted or substantially enacted by the end of the
reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would
follow from the manner in which the Company expects, at the end of the reporting period, to cover or settle the
carrying value of its assets and liabilities.

Deferred tax assets and liabilities are offset to the extent that they relate to taxes levied by the same tax authority and
there are legally enforceable rights to set off current tax assets and current tax liabilities within that jurisdiction.

Current and deferred tax are recognised as an expense or income in the statement of profit and loss, except when they
relate to items credited or debited either in other comprehensive income or directly in equity, in which case the tax is
also recognised in other comprehensive income or directly in equity.

Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws in India, which is likely
to give future economic benefits in the form of availability of set off against future income tax liability. MAT is
recognised as deferred tax assets in the Balance Sheet when the asset can be measured reliably and it is probable
that the future economic benefit associated with the asset will be realised.

K) Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the

revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair
value of the consideration received or receivable net of discounts, taking into account contractually defined terms and
excluding taxes or duties collected on behalf of the government.

Interest Income

Interest income from financial assets is recognised by applying the Effective Interest Rate (‘EIR’) to the gross carrying
amount of financial assets, other than credit-impaired assets and those classified as measured at Fair Value through
Profit or Loss (FVTPL) or Fair Value through Other Comprehensive Income (FVOCI). Interest Income on credit impaired
financial assets is recognised by applying the effective interest rate to the net amortised cost (net of provision) of the
financial asset.

Dividend Income

Income from dividend is recognised when the Company’s right to receive such dividend is established, it is probable
that the economic benefits associated with the dividend will flow to the entity, the dividend does not represent a
recovery of part of cost of the investment and the amount of dividend can be measured reliably.

L) Borrowing Costs

Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds
including interest expense calculated using the effective interest method, finance charges in respect of assets
acquired on finance lease. Borrowing cost also includes exchange differences to the extent regarded as an
adjustment to the borrowing costs.

Borrowings costs directly attributable to the acquisition, construction or production of qualifying assets, which are
assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the
cost of those assets, until such time as the assets are substantially ready for the intended use or sale.

M) Cash and Cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand,
deposits held at call with financial institutions, other short-term highly liquid investments with original maturities of
three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the
balance sheet.

N) Trade Receivables

Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the
effective interest method, less provision for impairment, if any.

O) Segment Reporting
Identification of Segments

The management is of the view that the business of the company predominantly falls within a single primary segment
viz "Financial & Related Services" and hence there are no separate reportable segments as per Ind-AS dealing with
the segment reporting.

P) Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of
calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential
equity shares.

Q) Contingent Liabilities and Assets

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the
occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present
obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the
obligation. The company does not recognize a contingent liability but discloses its existence in the financial
statements.

Contingent assets are not recognised in the financial statements, but are disclosed where an inflow of economic
benefits is probable.

(b) Rights, preferences and restrictions in respect of each class of shares including restrictions on the distribution
of dividends and the repayment of capital :

The Company’s authorised capital consist of one class of shares, referred to as equity shares, having par value of ' 5/-
each. Each holder of equity shares is entitled to one vote per share.

The Company declares and pays dividend in Indian rupees. The dividend, if any, proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining asset
of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of
equity shares held by the shareholders.

31. Employee Benefits

(a) Defined Benefit Plan - Gratuity

The Gratuity scheme is a final salary defined benefit plan, that provides for lumpsum payment at the time of separation; based
on scheme rules the benefits are calculated on the basis of last drawn salary and the period of service at the time of separation
and paid as lumpsum. There is a vesting period of 5 years.

Description of Risk Exposures :

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 gratuity benefit which are as follows :

i) Actuarial Risk: It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons :
Adverse salary growth experience: Salary hikes that are higher than the assumed salary excalation will result into an
increase in obligation at a rate is higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity
benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of
cashflow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount
rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the
Gratuity Benefits will be pid earlier than expected. The impact of this will depend on wheather the benefits are vested as at the
resignation date.

ii) Investment Risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair
value of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount
rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount
rate during the inter-valuation period.

iii) Liquidity Risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some
of such employees resign/retire from the company there can be strain on the cashflows.

iv) Market Risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One actuarial
assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An increase in
discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa. This assumption depends on
the yields on the corporate/government bonds and hence the valuation of liability is exposed to fluctuations in the yields as at
the valuation date.

v) Legislative Risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the
legislation/regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher
benefits to the employees. This will directly affect the present value of the Defined Benefit Obligation and the same will have to
be recognized immediately in the year when any such amendment is effective.

33. Capital Management

The primary objectives of the Company’s capital management policy are to ensure that the Company complies with externally
imposed capital requirements and maintains strong credit ratings and healthy capital ratios in order to support its business
and to maximise shareholder value.

The Company manages its capital structure and makes adjustments to it according to changes in economic conditions and
the risk characteristics of its activities. In order to maintain or adjust the capital structure, the Company may adjust the
amount of dividend payment to shareholders, return capital to shareholders or issue capital securities. No changes have been
made to the objectives, policies and processes from the previous years. However, they are under constant review by the
Board.

Regulatory capital consists of Tier I capital, which comprises share capital, share premium, retained earnings including
current year profit, statutory reserves and other free reserves less deferred revenue expenditure and intangible assets. The
other component of regulatory capital is Tier II Capital Instruments, which includes subordinate bonds, deposits and loans.

34. Financial Risk Management and Policy

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The
Company continues to focus on a system-based approach to business risk management. The Company’s financial risk
management process seeks to enable the early identification, evaluation and effective management of key risks facing the
business. Backed by strong internal control systems, the current Risk Management System rests on policies and procedures
issued by appropriate authorities, process of regular reviews / audits to set appropriate risk limits and controls, monitoring of
such risks and compliance confirmation for the same.

a) Market risk

The Company's business primarily 'Financial and Related Services' in nature, exposes it to the risk that the fair value or future
cash flows of a financial instrument will fluctuate because of changes in market variables such as interest rates. The company
regularly reviews its average borrowing / lending cost including proportion of fixed and floating rate borrowings / loan so as to
manage the impact of changes in interest rates.

b) 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 loans and advances to customers and investment debt
securities.

i) Management of Credit risk

The Company has put in place well defined product programs with credit policy parameters defining the credit appetite for
each product.

ii) Write off policy

Financial assets are written off either partially or in their entirety only when the Company has stopped pursuing the recovery.
Any subsequent recoveries are credited to impairment on financial instrument in statement of profit and loss.

iii) Credit quality analysis

The company’s policies for computation of expected credit loss are set out below :

Expected Credit Loss (ECL) is computed for loans and investments portfolio of the company. The loans and advances
portfolio comprises of the following :

i) Corporate Lending

ii) Vechicle Lending

Investments measured at amortised cost is subjected to ECL.

c) Liquidity risk

Liquidity risk is defined as the risk that the Company will encounter difficulty in meeting obligations associated with financial
liabilities that are settled by delivering cash or another financial asset. Liquidity risk arises because of the possibility that the
Company might be unable to meet its payment obligations when they fall due as a result of mismatches in the timing of the
cash flows under both normal and stress circumstances.

d) Operational and business risk

Operational risk is the risk of loss arising from systems failure, human error, fraud or external events. When controls fail to
operate effectively, operational risks can cause damage to reputation, have legal or regulatory implications, or lead to
financial loss. The Company cannot expect to eliminate all operational risks, but it endeavours to manage these risks through
a control framework and by monitoring and responding to potential risks. Controls include maker-checker controls, effective
segregation of duties, access, authorisation and reconciliation procedures, staff education and assessment processes, such
as the use of internal audit.

35. Financial Instruments

The significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which
income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument are
disclosed in note 2 (J) to the financial statements

Fair value hierarchy:

Ind AS 107, ‘Financial Instrument - Disclosure’ requires classification of the valuation method of financial instruments measured at
fair value in the Balance Sheet, using a three level fair-value-hierarchy (which reflects the significance of inputs used in the
measurements). The hierarchy gives the highest priority to un-adjusted quoted prices in active markets for identical assets or
liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair-
value-hierarchy under Ind AS 107 are described below:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

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 and place limited reliance 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. This is the
case for unlisted equity securities included in level 3.

The investments included in Level 2 of fair value hierarchy have been valued using quotes available for similar assets and liabilities in
the active market. The investments included in Level 3 of fair value hierarchy have been valued using the cost approach to arrive at
their fair value. The cost of unquoted investments approximate the fair value because there is a range of possible fair value
measurements and the cost represents estimate of fair value within that range.

36. Expenditure in Foreign Currency :

During the year there were no foreign exchange earnings and outgo.

37. Details of Loans and Guarantees given covered under section 186 of the Companies Act, 2013:

Company is exempted from the applicability of the provisions of Section 186 of the Companies Act, 2013 (“the Act”) read
with Rule 11 of the Companies (Meetings of Board and its Powers) Rules, 2014 and Companies (Meetings of Board and
its Powers) Amendment Rules, 2015 as the Company is RBI registered Non-Banking Financial Company whose
principal business inter-alia includes financing of companies.

38. Segment Information

The management is of the view that the business of the company predominantly falls within a single primary segment viz.
“Financial and Related Services” and hence there are no separate reportable segments as per Ind-AS 108 dealing with
segment reporting.

39. The Company does not have any trade payables as at March 31, 2025, hence disclosure requirement as revised
schedule III has not been given.

40. The Company does not have any Trade receivables as at March 31, 2025, hence disclosure requirement as revised
schedule III has not been given.

41. Additional information as required by Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential
Norms (Reserve Bank) Directions, 2007 is furnished vide Annexure - II is attached herewith.

42. The Company is having one associate namely M/s Purple Advertising Services Private Limited with 33.33%
shareholding, financial of which is not available and hence the same has not been considered for the consolidation
purpose. The Associate company is under the process of liquidation. Considering the same the Company has made an
impairment Rs. 900 Lacs on account of such investment in the previous financial year 2023-24.

43. During the year under review, the Board of Directors at its meeting held on 3rd May, 2024 inter alia considered and
approved the proposal of opening of the Company's new branch office at Lucknow for the purpose of expansion of its
business operation in the area of Lucknow under the brand name "GrowU".

The Equity Shares of the Company was listed and admitted to dealings on the main Board of National Stock Exchange of
India with effect from 3rd October, 2024.

45. The Company does not have any benami property. Further there are no proceedings initiated or are pending against the
Company for holding any benami property under the Prohibition of Benami Property Transaction Act, 1988 and rules
made there under.

46. The Company does not have transactions with any struck off company’s during the year.

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

48. The Company has not advanced or loaned or invested funds to any other person(s) or entity(s) including foreign entities
(intermediaries) with the understanding that the intermediaries shall: (a) directly or indirectly lend or invest in other
persons or entities in any manner what so ever by or on behalf of the Company (ultimate beneficiaries); or (b) provide
any guarantee, security or the l ike to or on behalf of the ultimate beneficiaries.

49. The Company has not received any fund from any person(s) or entity(s), including foreign entities (funding party) with
the understanding (whether recorded in writing or otherwise) that the Company will: (a) directly or indirectly lend or
invest in other persons or entities identified in any manner what so ever by or on behalf of the funding party (ultimate
beneficiaries); or (b) provide any guarantee, security or the l ike on behalf of the ultimate beneficiaries.

50. The Company has not done any such transaction 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.

51. The Company has not been declared as a willful defaulter by any Bank or Financial Institution or Government or any
Government Authority.

52. The Company has not filed any scheme of arrangements in terms of section 230 to 237 of the Company’s Act, 2013 with
any Competent Authority.

53. Previous year‘s figures have been re-grouped and/or re-arranged wherever necessary, to confirm the current year
classification.

4) Intra-group exposures

There are no Intra-group exposures as on March 31,2025 and March 31,2024.

5) Unhedged foreign currency exposure

There are no unhedged foreign current exposures as on March 31,2025 and March 31,2024.

B. Related Party Disclosure

Related party disclosed made in Note No. 44

C. Disclosure of complaints

No complaints received by the company from any customers as on March 31,2025 and March 31,2024.

For B. Nath & Co. For and on behalf of the Board of Directors

Chartered Accountants
(Firm's Registration No. 307057E)

Sd/- Sd/- Sd/-

Gaurav More Udai Kothari Dinesh Burman

(Partner) (Chairman & Managing Director) (Executive Director)

(Membership No. 306466) (DIN:- 00284256) (DIN:-00612904)

Sd/- Sd/-

Place: Kolkata Priya Udaya Kanoji Amrita Mohta Kothari

Date: 22 May, 2025 (Chief Financial Officer) (Company Secretary)