2.2.9 Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions: Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount
of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the
reporting period, considering the risks and uncertainties surrounding the obligation. Provisions are reviewed at each balance sheet date
adjusted to reflect the current best estimates.

(b) Contingent Liabilities: Contingent liabilities are recognized when economic outflow is probable and disclosed when economic outflow is
possible.

(c) Contingent Assets: Contingent assets are not disclosed but recognized when economic inflow is certain.

2.2.10 Revenue

The Company applies Ind AS 115, Revenue from Contracts with Customers, which establishes a comprehensive framework for determining
whether, how much, and when revenue is to be recognised.

The Company derives revenue primarily from Transaction charges, Listing related income (consisting of listing fee, book building fees and listing
processing fees), Data Dissemination, Data Dissemination, Colocation and connectivity charges. The Company recognises revenue when the
significant terms of the arrangement are enforceable, services have been delivered and the collectability is reasonably assured. The method for
recognizing revenues and costs depends on the nature of the services rendered:

a) Revenue

• Transaction charges - revenue in respect of transactions on the exchange platform is recognised at a point in time as an when the
transaction occurs. The revenue is measured as per the specified rate.

• Listing fees & membership fees - revenue for listing and membership fees is recognised on a straight-line basis over the period to
which they relate.

• Book building fees - revenue is recognised at a point in time upon completion of the book building process.

• Colocation and connectivity charges - revenue is recognised over the period of the contract with the customer. The revenue is
calculated based on the specified charges for data centre racks and is recognised in the period in which the performance obligation
is satisfied.

b) Other

Other services - all other revenue is recognised in the period in which the performance obligation is satisfied over a period of time or point
in time.

The Company accounts for volume discounts and pricing incentives to customers by reducing the amount of revenue recognised at the time
of sale / services rendered. Revenues are shown net of goods and service tax-and applicable discounts and allowances.

2.2.11 Leases:As a Lessee:

The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys
the right to control the use of an identified asset for a period of time in exchange for consideration.

To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:

1. the contract involves the use of an identified asset;

2. the Company has substantially all of the economic benefits from use of the asset through the period of the lease; and

3. the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset (''ROU”) and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value leases. For these
short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of
the lease.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments
made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured
at cost less accumulated depreciation and impairment losses.

Certain lease arrangements include the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities
include these options when it is reasonably certain that they will be exercised.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life
of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate that their
carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value, less
cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely
independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the
asset belongs.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted
using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of these
leases. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment
whether it will exercise an extension or a termination option.

For short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the lease
term.

As a Lessor:

Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the lease term unless the
receipts are structured to increase in line with expected general inflation to compensate for the expected inflationary cost increases. The respective
leased assets are included in the balance sheet based on their nature.

2.2.12 Core Settlement Guarantee Fund (Core SGF)

The Company is required to contribute to Core Settlement Guarantee Fund in accordance with Securities Exchange Board of India (‘SEBI’) (Stock
Exchanges and Clearing Corporations) Regulation 2018. The Company atleast contributes amounts pertaining to Minimum Required Contribution
to the Core Settlement Guarantee Fund maintained by clearing corporation, which is determined as per SEBI guidelines. As per SEBI guidelines,
contribution once made to SGF is non-refundable even if it exceeds minimum required corpus (MRC) subsequently.

The contribution to Core Settlement Guarantee Fund by the Company is recorded as an expense in the Standalone Statement of Profit and Loss
in the period in which they are contributed and not reversed subsequently even when overall contribution exceeds the Minimum Required Corpus
(MRC).

2.2.13 Taxes

Tax expenses comprise current and deferred tax. Income tax expense is recognised in the statement of profit and loss except to the extent it relates
to items directly recognised in equity or in other comprehensive income.

a) Current income tax: Current income tax for the current and prior periods is measured at the amount expected to be recovered from or
paid to the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current tax
amount are those that are enacted at the reporting date and applicable for the period. The Company offsets current tax assets and current
tax liabilities, where it has a legally enforceable right to set off the recognised amounts and where it intends either to settle on a net basis
or to realize the asset and liability simultaneously.

b) Deferred income tax: Deferred income tax is recognised using the balance sheet approach. Deferred income tax assets and liabilities are
recognised for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount
in standalone financial statements.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
that sufficient taxable profit will be available to utilize the deferred tax asset. Deferred income tax assets and liabilities are measured at the
tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that
have been enacted or substantively enacted at the reporting date.

c) Goods and Services Tax (GST) paid on acquisition of assets or on incurring expenses: Expenses and assets are recognised net
of the amount of GST/ value added taxes paid, except:

• When the tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the tax paid
is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable;

• When receivables and payables are stated with the amount of tax included

The net amount of tax recoverable from, or payable to, the taxation authority is included as part of other current/non-current assets/
liabilities in the balance sheet.

2.2.14 Current / Non-current classification

The Company present bifurcation of assets and liabilities in the balance sheet between current and non-current
Assets: An asset is classified as current when it satisfies any of the following criteria:

(a) it is expected to be realised in, or is intended for sale or consumption in, the entity’s normal operating cycle;

(b) it is held primarily for the purpose of being traded;

(c) it is expected to be realised within twelve months after the balance sheet date; or

(d) it is cash or a cash equivalent unless it is restricted from being exchanged or used to settle a liability for atleast twelve months after the

balance sheet date;

(e) All other assets are classified as non-current.

Liabilities: A liability is classified as current when it satisfies any of the following criteria:

(a) it is expected to be settled in, the entity’s normal operating cycle;

(b) it is held primarily for the purpose of being traded;

(c) it is due to be settled within twelve months after the balance sheet date; or

(d) the Company does not have an unconditional right to defer settlement of the liability for at least twelve months after the balance sheet date;

(e) All other liabilities are classified as non-current.

Operating Cycle

Based on the nature of products / activities of the Company and the normal time between acquisition of assets and their realisation in cash or cash
equivalents, the Company has determined its operating cycle as 12 months for the purpose of classification of its assets and liabilities as current
and non-current.

2.2.15 Cash & Cash Equivalents

Cash and cash equivalent in the balance sheet comprise balances at banks, in hand, and short-term deposits with an original maturity of three
months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.

For the purpose of the standalone statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above
as they are considered an integral part of the Company’s cash management.

Notes:

Property cards of two properties having a carrying amount of ' 20 (? 228 as at March 31,2025) included in Land and Building are not updated in records
of Land and Revenue Department. Further, the process for transfer of the same in the name of BSE is currently under process. Refer note 44.

In accordance with the requirements of Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, and Ind AS 16 - Property, Plant and
Equipment, the Company has undertaken a comprehensive review of the estimated useful lives of its building assets during the previous financial year.
Pursuant to this review, and based on the advice of external valuation professionals, the Company has revised the estimated useful life of its building to
25 years, effective April 01, 2024 impact of same was Rs. 13. The change in useful life has been accounted for prospectively, as required by Ind AS 8.
The revised depreciation has been computed based on the carrying amount of the buildings as at April 01,2024, depreciated over the revised remaining
useful life.

(a) The Exchange has only one class of shares referred to as equity shares having a par value of ' 2/-. Each holder of equity shares is entitled to
one vote per share.

(b) Pursuant to the BSE (Corporatisation & Demutualisation) Scheme, 2005, (the Scheme) the Exchange had allotted 5,000 equity shares of
' 2/- each to each of those card based Members of the erstwhile Bombay Stock Exchange Limited whose names appeared on the Register
of Members under Rule 64 in accordance with Rules, Bye-laws and Regulations, on the Record Date fixed for the purpose.

(c) Out of the total 4,77,75,000 equity shares of ' 2/- (including 4,41,00,000 bonus shares of ' 2/- each) issuable to the card based Members,
the Exchange has allotted 4,73,20,000 equity shares (4,71,25,000 equity shares as on March 31, 2025) upon implementation of the BSE
(Corporatisation and Demutualisation) Scheme, 2005 ("The Scheme”). The allotment of 4,55,000 equity shares (6,50,000 equity shares as
on March 31, 2025) of ' 2/- each have been kept in abeyance for specific reasons pursuant to the provisions of the Scheme. However, all
corporate benefits as declared from time to time, including dividend and bonus are accrued to all the 4,77,75,000 equity shares, as per the
provisions of the Scheme.

14. EQUITY SHARE CAPITAL (Contd.)..

(d) i) The holders of equity shares are entitled to dividends, if any, proposed by the board of directors and approved by the shareholder at the
Annual General Meeting.

ii) I n the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the

Company, after distribution of preferential amounts. However, no such preferential amounts exists currently. The distribution will be in
proportion to the number of equity shares held by the shareholders.

15.1 General reserve

The general reserve created from time to time transfer profits from retained earnings for appropriation purposes. As the general reserve created
by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in general reserve will
not be reclassified to the Statement of Profit and Loss. The general reserve of ' 81 (? 38 as at March 31,2025) is earmarked towards issue of
bonus shares held in abeyance.

15.2 Capital reserve

Pursuant to the BSE (Corporatisation & Demutualisation) Scheme, 2005, (the Scheme) the balance in Contribution by Members, Forfeiture of
Members Application Money, Technology Reserve, Stock Exchange building, Seth Chunnilal Motilal Library, Charity, Income and Expenditure
Account as at 19th August, 2005 as appearing in the Exchange are transferred to Capital Reserve being reserves which shall not be used for
purposes other than the operations of the Exchange.

15.3 Retained earnings

The same reflects surplus / deficit after taxes in the Statement of Profit and Loss. The amount that can be distributed by the Company as dividends
to its equity shareholders is determined based on the balance in this reserve and also considering the requirements of the Companies Act, 2013.

32. FINANCIAL INSTRUMENTS (Contd.)..

The management assessed that fair value of cash and short-term deposits, trade receivables, trade payables and other current financial assets and

liabilities approximate their carrying amounts due to the short-term maturities of these instruments.

The fair value of the financial assets and financial liabilities is included at the amount at which the instrument could be exchanged in a current

transaction between willing parties, other than in a forced or liquidation sale.

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

(a) The fair value of the quoted bonds, debentures and equity shares are based on price quotations at reporting date.

(b) The fair value of unquoted instruments and other financial liabilities, as well as other non-current financial liabilities is estimated by discounting
future cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities, except for unquoted instruments
where observable inputs are available.

(c) The fair values of the unquoted equity shares have been estimated using a discounted cash flow model. The valuation requires management
to make certain assumptions about the model inputs, including forecast cash flows, discount rate, credit risk and volatility. The probabilities of
the various estimates within the range can be reasonably assessed and are used in management’s estimate of fair value for these unquoted
equity investments.

(d) In determining fair value measurement, the impact of potential climate-related matters, including legislation, which may affect the fair value
measurement of assets and liabilities in the financial statements has been considered.

Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly
(i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table presents fair value hierarchy of the financial assets (other than subsidiaries) and liabilities:

33. FINANCIAL RISK MANAGEMENT

The Company’s activities expose it to a variety of financial risks, including credit risk, liquidity risk and market risk. The Company has overall
responsibility for establishing and overseeing the risk management framework. To support this, the Company has constituted Risk Management
Committee, which is inter-alia primarily responsible for:

• Developing and implementing risk management policies

• Monitoring adherence to risk management practices

• Overseeing the risk reporting framework

The risk management policies and systems are reviewed periodically to ensure they remain appropriate considering changes in market conditions
and the respective business activities.

It is the Company’s policy that no trading in derivative for speculative purposes may be undertaken. The Board of Directors reviews and agrees with
policies for managing each of these risks, which are summarised below:

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty fails to meet contractual obligations when due. For the Company,
credit risk primarily arises from trade receivables, investments and other financial assets. Impairment provisions are made against the Company’s
trade receivables and investments based on the accounting policy set out in note no. 2.2.3. The Company’s maximum exposure to credit risk as at
March 31,2026, and March 31,2025, is the carrying value of each class of financial assets as disclosed in note no 32.

• Trade and other receivables

Given the regulated nature of operations, exposure to credit risk from trade receivables is generally limited. The Company’s exposure to credit
risk is influenced mainly by the individual characteristics of each customer.

The Company provides stock exchange services to its registered members and listed corporates. The Company manages its credit risk by
collecting deposits and advance collection for trading and listing services.

The company’s exposure to customer includes only one customer contributing more than 10% of outstanding accounts receivable as on March
31,2026, and March 31,2025. The concentration of credit risk is limited due to the fact that the customer base is large.

• Investments

The Company’s exposure to credit risk with respect to investments and other financial assets include cash and cash equivalents, term deposits
with banks, investments in debt instruments and mutual funds.

The Company limits its exposure to credit risk on other financial assets by:

• Placing funds only with highly rated banks and financial institutions;

• Investing in instruments with strong credit ratings and low default risk;

• Periodically reviewing the creditworthiness of counterparties and investment instruments;

• Adhering to Investment Policy as approved by the Investment Committee and the Board.

Liquidity risk

Liquidity risk is the risk that the Company may not be able to meet its obligations associated with financial liabilities as they become due. Such
obligations arise from the need to settle financial liabilities through the delivery of any financial asset.

The Company’s objective is to ensure liquidity that will be sufficient to meet all its liabilities when it is due. Liquidity risk is managed through prudent
cash flow management, ongoing monitoring of forecast and actual cash flows, and maintaining adequate cash and cash equivalents to meet
operational and contractual requirements.

Market risk

Market risk is the risk that the fair value or future cash flows of financial instruments will fluctuate due to changes in market variables such as interest
rates and other price-related factors. The Company is primarily exposed to price-risks arising from investments and interest rate risk arising from
interest-bearing financial assets.

The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising returns.

• Price risk:

Price risk refers to the risk that the fair value of financial instruments will fluctuate due to changes in market prices, primarily arising from
investments in mutual funds and exchange traded funds.

The Company is exposed to changes in market price of its mutual funds and exchange traded funds classified as FVTPL. The Company
manages price risk by diversifying its portfolio in accordance with the asset class and limits set in the investment policy as approved by the
Investment Committee and the Board.

At March 31, 2026, the exposure to price risk due to investment in own mutual funds and exchange traded funds amounted to ' 2,14,341
lakhs (March 31, 2025: ' 1,07,660 lakhs). As an estimation of the approximate impact of price risk, with respect to mutual funds and
exchange traded funds, the Company has calculated the impact of a 0.25% increase in prices. A 0.25% increase in prices would have led to
approximately an additional ' 536 lakhs gain in the Statement of Profit and Loss (2024-25: ' 269 lakhs gain). A 0.25% decrease in prices
would have led to an equal but opposite effect.

• Interest rate risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate due to changes in market interest rates.

The Company is mainly exposed to the interest rate risk due to its investment in government securities, bonds and debentures and state
development loans. The interest rate risk arises due to uncertainties about the future market interest rate of these investments.

33. FINANCIAL RISK MANAGEMENT (Contd.)..

The Company invests in term deposits for a period up to three years which are primarily fixed rate bearing investments. Hence, the Company
is not significantly exposed to interest rate risk.

The Company manages its interest rate risk by maintaining a balanced portfolio of small, medium and long-term instruments in accordance
with the Asset class and limits set in the Investment Policy as approved by the Investment Committee and the Board.

As at March 31,2026, the exposure to interest rate risk due to investment in government securities, bonds and debentures amounted to ' 72,492
lakhs (March 31,2025: ' 73,241 lakhs). As an estimation of the approximate impact of interest rate risk, with respect to financial instruments,
the Company has calculated the impact of a 0.25% change in interest rates. A 0.25% increase in interest rates would have led to approximately
an additional ' 181 lakhs gain in the Statement of Profit and Loss (2024-25: ' 183 lakhs gain). A 0.25% decrease in prices would have led
to an equal but opposite effect.

34. CAPITAL MANAGEMENT

The Company’s capital management strategy is designed to maintain a strong balance sheet capital base so as to maintain investor, creditors and
market confidence for orderly settlement of all trades and to sustain future development of the business. Aim of capital management is not to meet
only regulatory minimum capital, but also maintenance of financial cushion that ensures operational continuity, systemic stability, and the ability to
invest in market leading infrastructure. The company monitors its capital to ensure that it

• Provides a high degree of confidence to trading members and other market participants regarding company’s solvency

• Retains sufficient free capital to fund capital investment needed for future growth without increasing the company’s risk profile

• Supports a stable dividend policy while retaining earnings to bolster the networth in line with increasing market volumes.

The Company monitors the return on capital as well as the level of dividends on its equity shares.

The Company is zero debt company and predominantly financed its operations through equity.

Compliance with regulatory capital requirements:

In accordance with regulation 14 of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, the Company
is required to always maintain minimum networth of ' 100 Crore.

Notes:

1. The Company’s pending litigations comprise claims against the Company primarily by the customers/ vendors and proceedings pending with Tax and
other regulatory authorities. The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions
are required and disclosed the contingent liabilities where applicable, in its standalone financial statements. The Company does not expect the
outcome of these proceedings to have a material adverse effect on its standalone financial statements at March 31,2026.

2. It is not practicable for the Company to estimate the timing of cash outflow, if any, in respect of the above pending resolution of the respective
proceedings as it is determinable only on the receipt of judgements/decisions pending with various forums/authorities.

37. CAPITAL COMMITMENTS

Estimated value of contracts remaining to be executed on capital account and not provided for are ' 9,257 lakhs as at March 31,2026 (? 16,022
lakhs as at March 31,2025)

38. SEGMENT REPORTING

38.1 The "Company” operates only in one Operating Segment i.e. "Facilitating Trading in Securities and other related ancillary Services”, hence have
only one reportable Segment as per Indian Accounting Standard 108 "Operating Segments”. The reportable business segments are in line with the
segment-wise information, which is being presented to the CODM, who is Managing Director and CEO of the Company.

40. EMPLOYEE BENEFITS40.1 Defined Benefit Plan - Gratuity:

The Company offers its employees defined benefit plans in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans
are typically based on years of service and the employee’s compensation (generally immediately before retirement/exit). The gratuity scheme covers
substantially all regular employees.

The plan assets in respect of gratuity represent funds managed by the BSE employee Gratuity Fund. The Employer’s best estimate of the contributions
expected to be paid to the plan during the next year is ' 393 lakhs.

The weighted average duration to the payment of these cash flows is 4.0 years.

• Discount Rate: The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the
estimated term of the obligations.

• Salary Escalation Rate: The estimates of future salary increase, considered in actuarial valuation, takes into account the inflation, seniority,
promotion and other relevant factors.

40.2 Defined Contribution Plan - Provident fund, Pension Fund and New pension Scheme:

The Company offers its employees defined contribution plan in the form of provident fund and family pension fund. Provident fund and family pension
fund cover substantially all regular employees. While both the employees and the Company pay predetermined contributions into the provident fund
and New National Pension Scheme, contributions into the family pension fund are made by only the Company. The contributions are based on a
certain proportion of the employee’s salary.

47. MAINTENANCE OF BOOKS OF ACCOUNTS AND SERVERS

The Company has complied with Rule 3 of Companies (Accounts) Rules, 2014 amended on August 5, 2022 relating to maintenance of electronic
books of account and other relevant books and papers. The Company’s books of accounts and relevant books and papers are accessible in India at
all times and backup of accounts and other relevant books and papers are maintained in electronic mode within India and kept in servers physically
located in India on daily basis.

48. AUDIT TRAIL

The Company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and
the same has operated throughout the year for all relevant transactions recorded in the software. Further, there are no instance of audit trail feature
being tampered with.

49. OTHER STATUTORY INFORMATION

i) There are no promoters identified for the Company.

ii) The Company, for the current year as well as previous year, does not have any Benami property, where any proceedings have been initiated or
pending against the company for holding any Benami property.

iii) The Company, for the current year as well as previous year, does not have any charges or satisfaction to be registered with ROC.

iv) The Company, during the current year as well as previous year, has not carried out or traded or invested in crypto currency or virtual currency.

v) The Company, for the current year as well as previous year, has not carried out 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 assessment under Income Tax Act, 1961 (Such as

search, survey any other relevant provisions of the Income Tax Act, 1961).

vi) The Company, for the current year as well as previous year, has not advanced any loan or invested funds to any other person(s) or entity(ies),
including foreign entities (intermediaries) with the understanding that the intermediaries shall:

a) directly or indirectly lend or invest in other persons or entities identified in any manner, whatsoever by or on behalf of the Company
(Ultimate Beneficiary) or

b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiary.

vii) The Company, for the current year as well as previous year, 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:

a) 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 Beneficiary) or

b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiary.

viii) The Company has not been declared as willful defaulter by any bank or financial institution or other lender.

ix) The Company, during the current year and previous year, has not made any investment in downstream companies which are not in compliance
with clause (87) of section 2 of the Act read with the Companies (Restriction on number of layers) Rules, 2017.

x) The Company has not entered into any scheme of arrangement in terms of sections 230 to 237 of the Companies Act, 2013 during the current
year and previous year.

xi) The Company has not revalued its property plant and equipment or intangible assets or both during current year and previous year.

49. OTHER STATUTORY INFORMATION (Contd.)..

xii) The Company has not granted/given any loans or advances during the current year and previous year to the directors, KMP and the related
party (as defined under companies Act, 2013), either severally or jointly with any other person that is repayable on demand or without specifying
any terms or period of repayment.