2. MATERIAL ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES AND JUDGEMENTS
MATERIAL ACCOUNTING POLICIES:

2.1 STATEMENT OF COMPLIANCE

Standalone Financial Statements have been prepared in accordance with the accounting principles generally
accepted in India including Indian Accounting Standards (Ind AS) prescribed under the Section 133 of the Companies
Act, 2013 read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended and relevant
provisions of the Companies Act, 2013.

Accordingly, the Company has prepared these Standalone Financial Statements which comprise the Balance Sheet
as at 31^st March, 2025, the Statement of Profit and Loss for the year ended 31^st March 2025, the Statement of Cash
Flows for the year ended 31st March 2025 and the Statement of Changes in Equity for the year ended as on that date,
and accounting policies and other explanatory information (together hereinafter referred to as 'Standalone Financial
Statements' or 'financial statements').

2.2 BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified
under section 133 of the Companies Act, 2013 ('the Act') read together with the Companies (Indian Accounting
Standards) Rules, 2015, as amended from time to time, and other relevant provisions of the Act on an accrual basis.
The financial statements have been prepared on a going concern basis. The financial statements have been prepared
as per the guidelines issued by the RBI as applicable to a NBFCs and other accounting principles generally accepted
in India.

Historical Cost Convention

The financial statements have been prepared on a historical cost basis, except for certain financial assets and
financial liabilities that are recognised at fair value at initial and subsequent measurement, as explained in the
accounting policies below.

Historical cost is the consideration paid in exchange of goods and services or it is the amount paid for acquiring
asset. Fair value is the price 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, regardless of whether that price is directly
observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the
Company takes into account the characteristics of the asset or liability if, the market participants would take those
characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement
and/ or disclosure purposes in these financial statements is determined on such a basis.

The financial statements are presented in Indian Rupees (INR), which is the Company's functional currency and
all values are rounded off to the nearest lakhs (INR 00,000), except where otherwise indicated.

Critical accounting estimates and judgments

The preparation of the Company's financial statements requires Management to make use of estimates and
judgments. In view of the inherent uncertainties and a level of subjectivity involved in measurement of items,
it is possible that the outcomes in the subsequent financial years could differ from those on which the
Management's estimates are based. Accounting estimates and judgments are used in various line items in the
financial statements for e.g.:

• Business model assessment (Refer Note No 2.5)

• Fair value of financial instruments (Refer Note No 2.5)

• Effective Interest Rate (EIR) (Refer Note No 2.5)

• Impairment on financial assets (Refer Note No 2.5)

• Provisions, contingent liabilities and Contingent assets (Refer Note No 2.14)

• Provision for tax expenses (Refer Note No 2.12)

Presentation of financial statements

The financial statements of the Company are presented in accordance with Schedule III (division III) of the
Companies Act, 2013 applicable to non-banking Finance Companies (NBFCs), as notified by the MCA. The Statement
of Cash Flows is presented in compliance with the requirements of Ind AS 7, Statement of Cash Flows. The Company
classifies its assets and liabilities as financial and non-financial and presents them in the order of liquidity.
An analysis of expected recovery or settlement within 12 months after the reporting date and more than 12 months
after the reporting date is presented in Note no. 31 of the financial statements.

The Company generally reports financial assets and financial liabilities on a gross basis in the Balance Sheet. They are
offset and reported net only when Ind AS specifically permits the same or it has an unconditional legally enforceable
right to offset the recognised amounts without being contingent on a future event. Similarly, the Company offsets
incomes and expenses and reports the same on a net basis when permitted by Ind AS specifically unless they are
material in nature.

2.3 PROPERTY, PLANT & EQUIPMENT (PPE) :

Recognition and initial measurement

Property, plant and equipment are stated at cost less accumulated depreciation/amortization and impairment
losses, if any.

Cost comprises the purchase price and any attributable / allocable cost of bringing the asset to its working condition
for its intended use. The cost also includes direct cost and other related incidental expenses. Revenue earned, if any,
during trial run of assets is adjusted against cost of the assets. Cost also includes the cost of replacing part of the
plant and equipment.

Borrowing costs relating to acquisition / construction / development of tangible assets, if any, which takes substan¬
tial period of time to get ready for its intended use are also included to the extent they relate to the period till such
assets are ready to be put to use.

Subsequent measurement (depreciation and useful lives)

When significant components of property and equipment are required to be replaced at intervals, recognition is
made for such replacement of components as individual assets with specific useful life and depreciation, if these
components are initially recognised as separate asset. All other repairs and maintenance costs are recognised in the
statement of profit and loss as and when incurred.

Depreciation / amortization are recosnised on a written-down basis as under:

Assets costing less than Rs. 5,000 are fully depreciated in the year of purchase.

Depreciation method, useful life and residual value are reviewed periodically.

The carrying amount of PPE is reviewed periodically for impairment based on internal / external factors.
An impairment loss is recognised wherever the carrying amount of assets exceeds its recoverable amount.
The recoverable amount is the higher of the asset's net selling price and value in use.

When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit)
is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not
exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
(or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the statement
of profit and loss.

De-recognition

PPE are de-recognised either when they have been disposed of or when they are permanently withdrawn from use
and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds
and the carrying amount of the asset is recognised in the statement of profit and loss in the period of de-recognition.

2.4 INVESTMENT IN SUBSIDIARIES :

Subsidiaries:

A subsidiary is an entity over which the Company has a control. Control is achieved when only if the Company:

• Has power over investee

• Is exposed or has right to variable return from its involvement with the investee, and

• Has ability to use its power over investee to affect its return.

Investments in subsidiaries are recognised at cost and are not adjusted to fair value at the end of each reporting
period as permitted by Ind AS 27 'Separate financial statement'. Cost of investments represents the amount paid for
acquisition of the said investments. The same has been classified under Level 3 Investments.

2.5 FINANCIAL INSTRUMENTS :

Recognition of Financial Instruments

Financial instruments comprise of financial assets and financial liabilities. Financial assets and liabilities are
recognised when the company becomes a party to the contractual provisions of the instruments.

Financial assets primarily comprise of Trade receivables, loan receivables, investment in securities etc.

Financial liabilities primarily comprise of borrowings, trade payables and other financial liabilities etc.

Initial Measurement of Financial Instruments

Recognised financial assets and financial liabilities are initially measured at fair value. Transaction costs and
revenues that are directly attributable to the acquisition or issue of financial assets and financial liabilities
(other than financial assets and financial liabilities at Fair value through profit or loss (FVTPL)) are added to or
deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.
Transaction costs and revenues directly attributable to the acquisition of financial assets or financial liabilities at
FVTPL are recognised immediately in profit or loss.

If the transaction price differs from fair value at Initial recognition, the Company will account for such difference as
follows:

a. if fair value is evidenced by a quoted price in an active market for an identical asset or liability or based
on a valuation technique that uses only data from observable markets, then the difference is recognised in
profit or loss on initial recognition (i.e. day 1 profit or loss);

b. in all other cases, the fair value will be adjusted to bring it in line with the transaction price (i.e. the
recognition of profit or loss on day one will be deferred by including it in the initial carrying amount of the
asset or liability).

After initial recognition, any deferred gain or loss will be released to the Statement of profit and loss on a rational
basis, only to the extent that it arises from a change in a factor (including time) that market participants would take
into account when pricing the asset or liability.

Subsequent Measurement of Financial Assets

All recognised financial assets that are within the scope of Ind AS 109 are required to be subsequently measured
at amortised cost or fair value on the basis of the entity's business model for managing the financial assets and the
contractual cash flow characteristics of the financial assets.

Company recognizes all the financial assets, other than measured at fair value or amortised cost, which are realised
within 12 months, from reporting date, are recorded at cost & not at fair value or amortised cost but are tested for
impairment.

Business model assessment

The Company determines its business model at the level that best reflects how it manages groups of financial assets
to achieve its business objectives. The Company's business model is assessed on an instrument by instrument basis.

• Classification of Financial Assets

For the purpose of subsequent measurement, financial assets are classified into four categories:

> Debt instruments at amortised cost

> Debt instruments at Fair value through Other Comprehensive Income (FVTOCI)

> Debt and equity instruments at FVTPL

> Equity instruments designated at FVTOCI

> Debt instruments at amortised cost :

The Company measures its financial assets at amortised cost if both the following conditions are met:

Ý The asset is held within a business model of collecting contractual cash flows; and

Ý Contractual terms of the asset give rise to cash flows on specified dates that are Sole Payments of
Principal and Interest (SPPI) on the principal amount outstanding.

To make the SPPI assessment, the Company applies judgment and considers relevant factors such as the
nature of portfolio and the period for which the interest rate is set.

The business model of the Company for assets subsequently measured at amortised cost category is to hold
and collect contractual cash flows. However, considering the economic viability of carrying the delinquent
portfolios in the books of the Company, it may sell these portfolios to the other entities.

After initial measurement, such financial assets are subsequently measured at amortised cost on effective
interest rate (EIR).

> Debt instruments at FVTOCI :

The Company subsequently classifies its financial assets as FVTOCI, only if both of the following criteria are
met:

Ý The objective of the business model is achieved both by collecting contractual cash flows and selling the
financial assets; and

Ý Contractual terms of the asset give rise to cash flows on specified dates that are Solely Payments of
Principal and Interest (SPPI) on the principal amount outstanding.

Debt instruments included within the FVTOCI category are measured at each reporting date at fair value with
such changes being recognised in other comprehensive income (OCI) under the head items reclassify to profit
or loss. The interest income on these assets is recognised in profit or loss.

On derecognition of the asset, cumulative gain or loss previously recognised in OCI is reclassified to profit or
loss.

> Debt / equity instruments at FVTPL:

The Company classifies financial assets which are held for trading and has selected to classify some other
instruments under FVTPL category. These instruments are recorded and measured in the standalone balance
sheet at fair value. Interest income is recognised in profit & loss as per the terms of the contract. Dividend
income is recognised in profit & loss when the right to receive payment is established. Gains or losses on
changes in fair value of these debt and equity instruments are recognised on net basis through profit or loss.

The Company's majority of investments in mutual funds, venture capital fund/alternative investment fund,
preference shares, and equity shares have been classified under this category.

> Equity instruments designated at FVTOCI:

The Company's management has elected to classify irrevocably some of its equity investments as equity
instruments at FVTOCI, when such instruments meet the definition of Equity under Ind AS 32 'Financial
Instruments: Presentation' and are not held for trading & instruments classified under FVTPL category.
Such classification is determined on an instrument-by-instrument basis.

Gains and losses on equity instruments measured through FVTOCI are never recycled to profit & loss, even
on sale of investments. Dividend income is recognised in profit & loss when the right to receive payment is
established.

De-recognition of Financial Assets

A financial asset is de-recognised only when:

• The Company has transferred the right to receive cash flows from the financial assets; or

• The right to receive cash flows from the asset have expired; or

• Retains the contractual rights to receive the cash flows of the financial assets but assumes contractual
obligations to pay those cash flows to one or more recipients.

Where the entity has transferred an asset, the Company evaluates whether it has transferred substantially all risks
and rewards of ownership of the financial asset. In such cases, the financial asset is de-recognised. Where the entity
has not transferred substantially all risks and rewards of ownership of the financial asset, the financial asset is not
de-recognised.

On de-recognition of a financial asset in its entirety, the difference between the asset's carrying amount and the
sum of the consideration received or receivable is recognised in profit & loss in case financial assets classified under
FVTPL category.

In case of financial assets classified under FVTOCI category, the cumulative gain or loss that had been recognised in
other comprehensive income and accumulated in other equity is transferred to retained earnings as if such gain or
loss would have otherwise been recognised in profit or loss on disposal of that financial asset.

Write-off

Loans and debt securities are written off when the Company has no reasonable expectations of recovering the
contractual cash flow, either in its entirety or a portion thereof. This is the case when the Company determines
that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay
the amounts subject to the write-off. A write-off constitutes a de-recognition event. The Company may apply
enforcement activities to financial assets written off. Recoveries resulting from the Company's enforcement
activities will result in impairment gains.

Reclassifications

If the business model under which the Company holds financial assets changes, the financial assets affected are
reclassified. The classification and measurement requirements related to the new category apply prospectively from
the first day of the first reporting period following the change in business model that result in reclassifying the
Company's financial assets. Such reclassification needs to be approved by the Board of Directors of the Company.

Impairment of Financial Assets

The Company recognises loss allowances using the Expected Credit Loss (ECL) model for all financial assets
measured at amortised cost or FVTOCI (excluding FVTPL instruments). Expected credit losses are measured at an
amount equal to the 12-month ECL, unless there has been a significant increase in credit risk or the assets have
become credit impaired from initial recognition in which case, those are measured at lifetime ECL. The amount of
expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date is recognised
as an impairment gain or loss in the Statement of Profit and Loss. Loss allowances for financial assets measured at
amortised cost are deducted from the gross carrying amount of the assets.

Measurement of expected credit loss

Expected credit losses are measured as a probability weighted estimate of credit losses. Credit losses are measured
as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the Company in
accordance with the contract and the cash flows which the Company expects to receive).

Ind As 109 requires all financial instruments other than those recognised as FVTPL and equity instruments to be clas¬
sified into one of the three stages (Stage 1, Stage 2 or Stage 3) based on the assessed credit risk of the instrument/
facility.

There are three stages:

• Stage 1 would include all facilities which have not undergone a significant increase credit risk

• Stage 2 would include facilities meeting the criteria for Significant Increase in Credit Risk and facilities with Days
Past Dues (DPD) 30 or more. The Company may rebut this presumption based on behavioural pattern of financial
instruments.

• The stage 3 will have facilities classified as NPA and facilities with DPD 90 or more
Asset Classification and Provisioning

loan asset classification and requisite provision made under RRI prudential norms are given below_:

The Company continuously monitors all financial assets subject to ECLs. In order to determine whether an
instrument is subject to 12 month ECL (12m ECL) or life time ECL (LTECL), the Company assesses whether there
has been a significant increase in credit risk or the asset has become credit impaired since initial recognition.
The Company applies following quantitative and qualitative criteria to assess whether there is significant increase in
credit risk or the asset has been credit impaired:

(a) Historical trend of collection from counterparty;

(b) Company's contractual rights with respect to recovery of dues from counterparty;

(c) Credit rating of counterparty and any relevant information available in public domain;

After applying the above criteria, Management has decided to make minimum ECL provision at the provisioning
rates (as given in above table) as per RRI prudential norms unless higher provisioning is required as per above
criteria.

Financial liabilities

A financial liability is a contractual obligation to deliver cash or another financial asset or to exchange financial assets
or financial liabilities with another entity under conditions that are potentially unfavorable to the Company or, a
contract that will or may be settled in its own equity instruments and is a non-derivative contract for which the
Company is or may be obliged to deliver a variable number of its own equity instruments, or a derivative
contract over own equity that will or may be settled other than by the exchange of a fixed amount of cash
(or another financial asset) for a fixed number of its own equity instruments.

All financial liabilities are subsequently measured at amortised cost using the effective interest method.

(a) Subsequent measurement

Financial liabilities are subsequently carried at amortised cost using the EIR method. For trade and other
payables maturing within operating cycle, the carrying amounts approximate the fair value due to the short
maturity of these instruments.

Interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective
Interest Method (EIR) method. Gains or losses are recognised in Statement of Profit and Loss when the
liabilities are derecognised.

Company recognizes all the financial liabilities, other than those measured at fair value or amortised cost,
which are settled within 12 months from the reporting date, at cost & not at fair value or amortised cost.

Amortised cost is calculated by taking into account any discount or premium on acquisition and transaction
cost. The EIR amortization is included as finance costs in the statement of Profit and Loss.

(b) De-recognition

A financial liability (or a part of a financial liability) is de-recognised from the Company's balance sheet
when the obligation specified in the contract is discharged or cancelled or expires. When an existing financial
liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as the De-recognition
of the original liability and the recognition of a new liability. The difference between the carrying amount of
the financial liability derecognised and the consideration paid is recognised in the Statement of Profit and
Loss as a gain or loss.

Fair value measurement

The Company measures financial instruments at fair value on initial recognition and uses valuation techniques that
are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising
the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:

Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices in an active market.
This includes listed equity instruments, traded debentures and mutual funds that have quoted price. The fair value
of all equity instruments (including debentures) which are traded on the stock exchanges is valued using the closing
price as at the reporting period. The mutual funds are valued using the closing NAV as published on Association of
Mutual Funds of India (AMFI).

Level 2 - Level 2 hierarchy includes financial instruments that are not traded in an active market (for example,
traded bonds/debentures, over the counter derivatives). The fair value in this hierarchy is determined using
valuation techniques which maximize the use of observable market data. If all significant inputs required to measure
fair value of 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. Fair values are determined in whole or in part using a valuation model, based on assumptions that are
neither supported by prices from observable current market transactions in the same instrument, nor are they
based on the available market data. Financial instruments such as unlisted equity shares, loans are included in this
hierarchy.

For unlisted group companies and other unlisted companies (other than classified as Level 2), for which latest
standalone / consolidated audited balance sheet are available are classified under level 3. Accordingly, their fair
value can be derived from the latest audited balance sheet by applying below formula:

"(Share capital other equity - prepaid expenses) / no of equity shares = value per share."

For assets and liabilities that are recognised in the financial statements at fair value on a recurring basis, the
Company determines whether transfers have occurred between levels in the hierarchy by re-assessing
categorization at the end of each reporting period and discloses the same.

Derivative financial instruments

The Company uses derivative financial instruments for trading purposes. Such derivative financial instruments are
initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently
re-measured at fair value.

Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value
is negative.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to statement of profit and
loss as "Gain / (Loss) from trading in securities (future and option segments)" under the head "Net gain on fair value
changes."

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet only if there
is an enforceable legal right to offset the recognised amounts with an intention to settle on a net basis, or to realise
the assets and settle the liabilities simultaneously.

2.6 LEASE

Short term lease:

The company has elected not to recognised right-of-use assets and lease liabilities for short term leases that have a
lease term period of less than 12 months. The company recognises the lease payments associated with these leases
as an expense on a straight-line basis over the lease term.

2.7 REVENUE RECOGNITION

A. Interest Income

Interest income on financial instruments at amortised cost is recognised on a time proportion basis taking
into account the amount outstanding and the effective interest rate (EIR) applicable. The EIR is the rate that
exactly discounts estimated future cash flows of the financial instrument through the expected life of the
financial instrument or, where appropriate, a shorter period, to the net carrying amount. The future cash flows
are estimated taking into account all the contractual terms of the instrument.

B. Dividend Income

Dividend income is recognised when the Company's right to receive payment is established.

C. Net gain on fair value changes

The Company recognises gains / (losses) on fair value changes of financial assets measured at FVTPL in the
statement of profit & loss, which are further bifurcated between realised & unrealised gain / (loss). Net gain of
fair value changes includes gain / (loss) on trading of shares & securities held as Stock in trade, gain / (loss) from
shares trading in derivatives segment and realised / unrealised gain or (loss) on other financial instruments fair
value through profit & loss account (FVTPL).

D. Other Income

Other incomes are accounted on accrual basis.

2.8 EXPENDITURES
A. Finance costs

Borrowing costs on financial liabilities are recognised using the EIR.

B. Others

Other expenses are accounted on accrual basis.

2.9 FOREIGN CURRENCY TRANSACTIONS

In preparing the financial statements of the Company, transactions in currencies other than the entity's functional
currency (i.e. foreign currencies) are recognised at the rate of exchange prevailing on the date of the transactions.

At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates
prevailing on that date. Non-monetary items carried at fair value that are denominated in foreign currencies are
retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are
measured in terms of historical cost in a foreign currency are not retranslated.

All exchange differences are recognised in the Statement Profit and Loss in the period in which they arise.

2.10 CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash on hand & bank balance in current account and deposit in fixed account with
original maturities of three months or less.

2.11 BORROWING COSTS

Borrowing costs that are attributable to the acquisition, construction or production of qualifying assets as defined in
Ind AS 23 are capitalised as a part of costs of such assets. A qualifying asset is one that necessarily takes a substantial
period of time to get ready for its intended use.

Interest expenses are calculated using the EIR and all other borrowing costs are recognised in the Statement of Profit
and Loss in the period in which they are incurred.

2.12 INCOME TAXES

A) Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from, or paid
to the taxation authorities using the tax rates and tax laws that are in force at the reporting date.

Current income tax relating to items recognised outside the statement of profit and loss is recognised outside
the statement of profit and loss (either in other comprehensive income or in equity). Such current income
tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity.
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 assets
and settle the liability simultaneously.

B) Deferred tax

Deferred income tax is recognised using the balance sheet approach.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

a) When the deferred tax liability arises from the initial recognition of goodwill or an asset or a liability in
a transaction that is not a business combination and, at the time of the transaction affects neither the
accounting profit nor taxable profit or loss.

b) In respect of taxable temporary differences associated with investments in subsidiaries and associates,
when the timing of the reversal of the temporary differences can be controlled and it is probable that
the temporary differences will not reverse in the foreseeable future.

Deferred tax assets are recognised to the extent, it is probable that future taxable profit will be available
against which, the deductible temporary differences , the carry forward of unused tax credits and unused tax
losses can be utilised.

The carrying amount of deferred 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 allow all or part of the deferred tax
asset to be utilised.

Deferred taxes are not provided on the undistributed earnings of subsidiaries where it is expected that the
earnings of the subsidiary will not be distributed in the foreseeable future. Deferred tax assets and liabilities
are offset when they relate to income taxes levied by the same taxation authority and the relevant entity
intends to settle its current tax assets and liabilities on a net basis.

Deferred tax relating to items recognised outside the statement of profit and loss is recognised outside
the statement of profit and loss. Such deferred tax items are recognised in correlation to the underlying
transaction either in other comprehensive income or directly in equity.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to
taxable income in the years in which the temporary differences are expected to be received or settled.

Presentation of current and deferred tax:

Current and deferred tax are recognised as income or an expense in the Statement of Profit and Loss, except
when they relate to items that are recognised in Other Comprehensive Income, in which case, the current
and deferred tax income/expense are recognised in Other Comprehensive Income.

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 settle the liability simultaneously. Deferred tax assets and deferred tax liabilities are offset if a tax legally
enforceable right exists to set off current assets against current tax liabilities and the deferred taxes relate to
the same taxable entity and the same taxation authority.

2.13 IMPAIRMENT OF NON-FINANCIAL ASSETS

An assessment is done at each Balance Sheet date to ascertain whether there is any indication that an asset may be
impaired. If any such indication exists, an estimate of the recoverable amount of asset is determined. If the carrying
value of relevant asset is higher than the recoverable amount, the asset is considered impaired, and the carrying
amount is reduced to its recoverable amount. The resulting impairment loss is recognised in the Statement of Profit
and Loss.