(a) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares having a par value of Rs. 10 per share. Each shareholders is eligible for one vote per share held. In the event of liquidation the equity shareholders are eligible to receive the remaining assets of the Company.

20 CONTINGENT LIABILITIES

There are no contingent liabilities as on 31st March 2024

21 SEGMENT REPORTING

There are no reportable segments other than investment activity as per Ind AS 108, “Operating Segment”

22 EMPLOYEE BENEFITS

No provision has been made in respect of gratuity payable as no employee has yet put in qualifying period of service for entitlement of the benefits.

23 There was no balance due to Micro and Small Enterprises as defined under the MSMED act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

24 There are no derivative Instruments either for hedging or for speculation outstanding as at 31st March 2024.

There are no long term contracts as on 31st March, 2023 for which there are material forseeable

25 losses.

26 Balances in parties' accounts are subject to confirmation/ reconciliation. Appropriate adjustments, if any, will be made as and when the balances are reconciled.

27 Any of the assets other than fixed assets and non current investments have the on realisation in the ordinary course of business equal to the amount at which they are stated , subject to amounts not realise on full and final settlement / disposal.

28 There are no amounts due and outstanding to be credited to Investor Education and Protection fund.

29 Capital / other Commitments:

There are no contacts remaining to be executed on capital / other account and not provided for as at 31st March 31, 2024

30 Other additional information pursuant to the provisions of paragraph 5 of Schedule III to the Companies Act, 2013 is either nil or not applicable.

31 Events occuring after the reporting date

No adjusting or significant non-adjusting events have occurred between 31 March 2024 and the date of authorisation of these financial statements.

32 Taxation Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provisions of the Income Tax Act, 1961 and further there is no "book profit" as envisaged in section 115JB of the Income Tax Act.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses avaiable for set off under the Income Tax Axt, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit/ debit for the year have not been recognised in the finacials on prudent basis.

The company withdrew from the partnership business in Big Shop on Nove mber 30, 2023. Share of profit from the partnership business up to such date was Rs. 13.31 lacs. The amount outstanding from Big Shop of Rs. 4.85 crore as on such date has been converted into an unsecured loan bearing interest @10% per annum.

(ii) Fair value

The fair values of financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent in all the years. The following methods and assumptions were used to estimate the fair values.

The management assessed that fair values of trade receivables, cash and cash equivalents, security deposits, current borrowings, trade payables and other financial liabilities approximate to their carrying amounts largely due to the short-term maturities of these instruments. Further, management also assessed the carrying amount of certain noncurrent borrowings at floating interest rates which are a reasonable approximation of their fair values and the difference between the carrying amounts and fair values is not expected to be significant.

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

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amount would be significantly different from the values that would eventually be received or settled.

NOTE -38 FINANCIAL RISK MANAGEMENT

The Company's principal financial liabilities comprise of borrowings, trade and other payables, lease liabilities and other financial liabilities. The main purpose of these financial liabilities is to finance and support the operations of the Company. The Company's principal financial assets include trade and other receivables and cash and cash equivalents that derive directly from its operations.

The Company's business activities are exposed to a variety of risks including liquidity risk, credit risk and market risk. The Company seeks to minimize potential adverse effects of these risks by managing them through a structured process of identification, assessment and prioritization of risks followed by coordinated efforts to monitor, minimize and mitigate the impact of such risks on its financial performance and capital. For this purpose, the Company has laid comprehensive risk assessment and minimization/mitigation procedures and are reviewed by the management from time to time. These procedures are reviewed to ensure that executive management controls risks by way of properly defined framework. The Company does not enter into derivative financial instruments for speculative purposes.

(A) Credit risk

Credit risk refers to risk of financial loss to the Company if customers or counterparties fail to meet their contractual obligations. The Company is exposed to credit risk from its operating activities (mainly trade receivables).

Credit risk management Trade receivables

Trade receivables consist of large number of customers. In order to mitigate the risk of financial loss from defaulters, the Company has an ongoing credit evaluation process in respect of customers who are allowed credit period. In respect of walk-in customers the Company does not allow any credit period and therefore, is not exposed to any credit risk.

In general, it is presumed that credit risk has significantly increased since initial recognition if the payments are more than 90 days past due. The Company has a policy to provide for specific receivables which are overdue for a period over 180 days. On account of adoption of Ind AS 109, the Company also uses expected credit loss model to assess the impairment loss or reversal thereof.

(B) Liquidity risk

Liquidity risk implies that the Company may not be able to meet its obligations associated with its financial liabilities. The Company manages its liquidity risk on the basis of the business plan that ensures that the funds required for financing the business operations and meeting financial liabilities are available in a timely manner and in the currency required at optimal costs. The management regularly monitors rolling forecasts of the Company's liquidity position to ensure it has sufficient cash on an ongoing basis to meet operational fund requirements.

Additionally, the Company has committed fund and non-fund based credit lines from banks which may be drawn anytime based on Company's fund requirements. The Company maintains a cautious liquidity strategy with positive cash balance and undrawn bank lines throughout the period.

Note - 39

No proceedings have been initiated or is pending against the Company for holding any benami property under the Benami Transaction (Prohibition) Act, 1988 (45 of 1988) and Rules made there under.

Note - 40

The Company has not identified any transaction with Companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

Note - 41

All transactions have been recorded in the books of account and there are no unrecorded income that have been disclosed during the year in the tax assessments under the Income-Tax Act, 1961. Moreover there are no unrecorded income and related assets pertaining to previous years.

Note - 42

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

Note 43

The Company have accounting software for maintaining its books of account for the financial year ended March 31, 2024. However, the accounting software doesn't have a feature of recording audit trail (edit log) facility and the same wasn't operating throughout the year for all relevant transactions recorded in the software.

Note-44

Figures relating to previous periods have been rearranged/recompanied wherever considered necessary to make them comparable with the current period's figures.