c) The Company has only one class of Equity Shares having a par value of Rs. 10/- each. Each shareholder is entitled to one vote per share.

d) In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential Amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

e) The shareholders have the right to declare and approve dividend, as proposed by the Board of Directors for any financial year, to be paid to the members according to their rights and interest in the profits. However, no larger dividend shall be declared than that recommended by the Board of Directors.

Nature and Purpose of Reserves1. Capital Reserve

Capital reserve created through business combinations shall be utilised as per the provisions of Companies Act,2013.

2. Securities Premium

Securities Premium represents the excess of the amount received over the face value of the shares. This reserve will be utilized in accordance with the provisions of the Companies Act, 2013.

3. Retained Earnings

Retained Earnings represents accumulated Profit and losses of the company as on reporting date. Such Profits and losses are arrived after adjustment of payment of dividend, transfer to any reserves as Statutorily required and adjustment for realised gain/Loss on derecognition of Equity Instruments Measured at FVTOCI. Remeasurement of Defined Benefit is also adjusted. This includes Other Comprehensive Income of Rs. 19.9 lakhs (31st March 2024: (Rs. 22.98 lakhs)) relating to remeasurement of defined benefit plans (net of tax) which cannot be reclassified to Statement of Profit and Loss.

4 Revaluation Reserve

Cumulative gains and losses arising from fair value changes on upward revaluation of Property, Plant and Equipment measured at fair value through other comprehensive income are recognised in investment revaluation reserve. The Company has elected to transfer such surplus directly to retained earnings when the asset is derecognised.

Security Clause and Terms of Repayment a. "Loan from Axis Finance Limited (AFL)

The loan is secured by way of mortgage over Land and Building of the Hotel property situated at No.365, Anna Salai, Teynampet, Chennai along with all development rights, title, interest of the borrower on the property, claims, benefits, the amenities and car parkings thereon, by way of hypothecation of entire movable fixed assets of the Company (excluding vehicles) and pari passu charge on all the present and future current assets of the Company. Charge has been modified w.e.f. 13.08.2024 for ceding first pari-passu charge dated 13th August, 2024 in favour of Aditya Birla Finance Limited to partially transfer/assign the Facility up to an amount of INR 50,00,00,000/- (Rupees Fifty Crore) (Facility) by way of assignment to Aditya Birla Finance Limited by Axis Finance Limited. The charge ID was further modified to include second pari passu charge dated 04-03-2025 in favor of Axis bank limited for the overdraft facility of Rs.5 crores. The loan amount of Rs. 16,000 Lakhs is repayable in 180 monthly instalments from the date of the tranche along with interest are payable at monthly intervals benchmarked with Axis Finance Reference Rate(current interest rate 10.45%). Out of the said loan of Rs. 16,000 lakhs, Rs. 5,000 Lakhs has been assigned to Aditya Birla Finance Limited(ABFL).Vide deed of assignment dated March 22, 2024, said arrangement, AFL agrees to hold in trust the secured assets to secure the repayment of the facility and the ABFL will have the sole authority to receive and collect the receivables and or any amounts payable under the underlying documents in relation to the assigned assets."

1 The discount rate is based on the prevailing market yields of Indian Government Securities as at the Balance Sheet date for the estimates term of obligations.

2 The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market.

3 The gratuity plan and earned leave is unfunded.

36 In the opinion of the Management, the value of realization of Current and Non Current Assets in the ordinary course of business would not be less than the amount at which these are stated in the Balance Sheet.

42 Fair value hierarchy

This Section explains the estimates and judgements made in determining the fair values of Financial Instruments that are measured at fair value and amortised cost and for which fair values are disclosed in the financial statements. To Provide an indication about reliability of the inputs used in determining the fair values, the company has classified its financial instruments into the three levels prescribed under accounting standards. An explanation of each level follows underneath the table:

Level 1 : Includes Financial Instruments measured using quoted prices (unadjusted) in active markets for identical assets and liabilities that the entity can access at the measurement date.

Level 2 : Includes Financial Instruments which are not traded in active market but for which all significant inputs required to fair value the instruments are observable. The fair value is calculated using the valuation technique which maximises the use of observable market data.

Level 3: Includes those instruments for which one or more significant input are not based on observable market data.

43 Financial Risk Management Financial risk factors

The Company's activities expose it to liquidity risk and credit risk.

Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting its obligations associated with its financial liabilities.

The Company maintains sufficient cash and cash equivalents to manage day to day operation.

The table below provides details regarding the contractual maturities of financial liabilities as of 31st March, 2025:

Credit Risk

Credit risk is the risk that counter party will not meet its obligation under a financial instrument leading to a financial loss. The Company is exposed to credit risk from investments, trade receivables, cash and cash equivalents loans and other financial assets.

The Company's credit risk is minimised as the Company's financial assets are carefully allocated to counter parties reflecting the credit worthiness.

44 Capital Management

For the purpose of managing capital, Capital includes issued equity share capital and reserves attributable to the equity holders.

The objectives of the company's capital management are to:

- Safeguard its ability to continue as going concern so that it can continue to provide benefits to its shareholders.

- Achieve maximisation of the shareholder's wealth.

- Maintain optimum capital structure to reduce the cost of the capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and requirement of financial covenants. In order to maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares . The company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, loans and borrowings.

In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants attached to the loans and borrowings that define capital structure requirements. There have been no breaches in the financial covenants of any loans and borrowing in the current period.There is improvement in capital gearing compared to the previous financial year, mainly on account of Increase in networth and Reduction in Debt which indicates an improvement in financial stability.

47 Investment in Asian Hotels (West) Limited

As per Ind AS 109-Financial Instruments, the company is required to assess the recoverability of its financial assets, including the investment in AHWL, at the end of each reporting period. The company>s management has assessed that the investment in AHWL are not impaired, as the investee successfully revived from the CIRP. The company's management is of the opinion that the company will be able to recover more than the amount it has invested and advanced to AHWL. Further considering the fair value of AHWL's assets and its financial position post-IRP, as well as the company's rights and claims as a creditor no impairment is required to be provided for.

48 Short Term advance to Novak Hotels Private Limited (NHPL)

A Special PurposeVehicle known as Novak Hotels Private Limited (NHPL) (wholly owned subsidiary of Asian Hotels (East) Limited, a group company) was incorporated on November 1, 2023, to revive the hotel - Hyatt Regency, Mumbai presently owned by Asian Hotels (West) Limited. The Company has entered into loan agreement with NHPL for providing short term advance with the objective to acquire and to revive the operations of Hotel-Hyatt Regency, Mumbai (owned by AHWL). Till the end of the current financial year, the Company provided a short-term loan amounting to Rs. 143.60 crores to NHPL with the following terms and conditions:

a) The Borrower shall repay to the Company the principal amount along with the interest, in one or more instalments as may be mutually agreed.

b) The Company has the option to convert the outstanding amount of short term advance/loan along with interest, if any, wholly or partially, into equity shares or any other securities at any time by giving advance notice to the Borrower, at a price as may be decided by and between the Parties.

49 Foreign currency exposures

a. Foreign currency exposure outstanding as at the Balance Sheet date is Rs. 1,304.05 Lakhs (Previous year Rs.

1.081.45 Lakhs)

b. Un-hedged foreign currency exposures as at the Balance Sheet date is Rs. 1,304.05 Lakhs (Previous year-

1.081.45 Lakhs)

50 Outstanding balances of Trade receivables and Trade payables are subject to confirmation from the respective parties and consequential adjustments arising from reconciliation if any. The Management, however, is of the view that there will be no material discrepancies in this regard.

51 The Company has entered into operating lease agreements for letting out space. The lease agreements are made for specific period. Lease payments received/recognized in the Statement of Profit & Loss for the year ended 31st March 2025 amounted to Rs.172.40 Lakhs (Previous Year- Rs. 202.23 Lakhs). Future receivables for operating lease are as follow:

Since the lease is an operating lease, the Company is accounting for the rental income in the books as per the requirement of Ind AS 116 over the period of the lease term.

The Company has entered into leave & license agreement for office premises in New Delhi. The lease agreements are made for specific period as per agreement. Lease payments Made are recognized in the Statement of Profit & Loss amounting to Rs 180 lakhs for the period 01-04-2024 to 31-03-2025.The said leave & license agreement is valid till 1st May, 2025.

52 The Company has borrowings from banks and financial institutions. The quarterly returns or statements of current assets filed by the Company with bank are in agreement with the books of accounts.

53 The Company has not undertaken any transactions with companies struck off under section 248 of the Act, 2013 or Section 560 of the Companies Act, 1956 during the current year.

54 The Company does not have any Subsidiary Companies and accordingly the disclosure as to whether the company has complied with the number of layers of companies prescribed under clause(87) of the section 2 of the Act read with Companies (Restriction on number of layers) Rules, 2017 is not applicable.

55 Utilization of Borrowing Funds

a) The Company has not advanced or loaned to or invested funds in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding, that the intermediary shall lend to or invest in party identified by or on behalf of the company (Ultimate Beneficiaries) . Accordingly, no further disclosures, in this regard, are required.

b) The Company has not received any fund from any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding that the Company shall whether, directly or indirectly lend to or invest in other persons or entities identified by or on behalf of the Intermediaries ("Ultimate Beneficiaries") or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

56 No proceeding has been initiated or is pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988(45 of 1988) and Rules made thereunder.

57 As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. In accordance with the provisions of the Companies Act, 2013 read with Rules made thereunder, the Company was not required to make any CSR contribution for the Financial Year 2024-25.

58 None of the Banks, Financial Institutions or other lenders from whom the company has borrowed funds has declared the company as a wilful defaulter at any time during the current year or in the previous year.

59 All the charges or satisfaction thereof which is required to be registered with the Registrar of Companies(ROC) have been duly registered within the statutory time limit provided under the provisions of Companies Act,2013 and Rules made thereunder.

The Company does not have any charges or satisfaction thereof which is yet to be registered with ROC beyond the statutory period, for the year ending 31st March, 2025 and also for the year ending 31st March, 2024.

60 The Company has not traded or invested in Crypto currency or Virtual Currency during the year ending 31st March, 2025 and also for the year ending 31st March, 2024.

61 Previous year figures have been regrouped / rearranged as under:

a) Rs. 1645.75 Lakhs has been regrouped from Other Current Financial Liabilities to Trade Payables.

b) Rs. 43.43 Lakhs has been regrouped from Trade Receivables to Other Current Assets.

c) Rs. 94.64 Lakhs has been regrouped from Other Current Financial Liabilities to Other Current Liabilities.