(xiv) Provisions, contingent liabilities and contingent
assets

Provisions:Provisions are recognized in respect of
liabilities, which can be measured only by using a
substantial degree of estimates when:

(i) the Company has a present obligation as a result
of a past event;

(ii) a probable outflow of resources embodying
economic benefits will be required to settle the
obligation; and

(iii) the amount of the obligation can be reliably
estimated.

Reimbursement expected in respect of expenditure
required to settle a provision is recognized only when
it is virtually certain that the reimbursement will be
received.

Contingent Liability:Contingent liability is disclosed in
the case of:

(i) a present obligation arising from a past event,
when it is not probable that an outflow of
resources embodying economic benefits will be
required to settle the obligation; and

(ii) a possible obligation, that arises out of past events
and the existence of which will be confirmed only
by one or more uncertain future events unless the
probability of outflow of resources is remote.

Contingent Assets:Contingent assets are neither
recognized nor disclosed. However, when realization of
income is virtually certain, related asset is recognized.

(xv) Cash & cash equivalents

Cash and cash equivalents for the purposes of cash
flow statement comprise cash at bank and in hand and
short-term investments with an original maturity of
twelve months or less. Cash flow statement is prepared
using the indirect method.

(xvi) 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. The weighted
average numbers of equity shares outstanding during

the period are adjusted for events of bonus issue, a
share split and share warrants conversion.

Diluted earnings per share is calculated by adjusting
net profit or loss for the period attributable to equity
shareholders and the weighted number of shares
outstanding during the period for the effect of all
dilutive potential equity shares.

Further, where the statement of profit and loss includes
extraordinary items, the Company discloses basic and
diluted earnings per share computed on the basis of
earnings excluding extraordinary items (net of tax
expenses).

(xvii) Fair value measurement

The Company is required to measure the financial
instruments at fair value at each Balance Sheet date.
Fair value is the price that would be received to sell
an asset or paid to transfer a liability in an ordinary
transaction between market participants at the
measurement date. The fair value measurement is
based on the presumption that the transaction to sell
the asset or transfer the liability takes place either:

(i) In the principal market for the asset or liability, or

(ii) In the absence of a principal market, in the most
advantageous market for the asset or liability.

A fair value measurement of a non-financial asset
takes into account a market participant's ability to
generate economic benefits by using the asset in its
highest and best use or by selling it to another market
participant that would use the asset in its highest and
best use. The Company uses valuation techniques that
are appropriate in the circumstances and for which
sufficient data are available to measure fair value,
maximizing the use of relevant observable inputs and
minimizing the use of unobservable inputs. All assets
and liabilities, for which fair value is measured or
disclosed in the financial statements, are categorized
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: Quoted (unadjusted) market prices in active
markets for identical assets or liabilities.

Level 2: Valuation techniques for which the lowest level
input that is significant to the fair value measurement is
directly or indirectly observable.

Level 3: Valuation techniques for which the lowest level
input that is significant to the fair value measurement is
unobservable.

For the purpose of fair value disclosures, the Company
has determined classes of assets & liabilities on the
basis of the nature, characteristics and the risks of the
asset or liability and the level of the fair value hierarchy
as explained above.

(xviii) Financial instrument

A financial instrument is any contract that gives rise to
a financial asset of one entity and a financial liability
or equity instrument of another entity. Financial assets
includes trade receivable, loan to body corporate, loan
to employees, security deposits and other eligible
current and non-current assets. Financial liabilities
include Loans, trade payables and eligible current and
non-current liabilities.

(1) Classification

The Company classifies financial assets as
subsequently measured at amortized cost, fair
value through other comprehensive income or
fair value through profit or loss on the basis of
both:

(i) the entity's business model for managing
the financial assets; and

(ii) the contractual cash flow characteristics of
the financial asset.

A financial asset is measured at amortized cost if
both of the following conditions are met:

(i) the financial asset is held within a business
model whose objective is to hold financial
assets in order to collect contractual cash
flows; and

(ii) the contractual terms of the financial asset
give rise on specified dates to cash flows that
are solely payments of principal and interest
on the principal amount outstanding.

A financial asset is measured at fair value through
other comprehensive income if both of the
following conditions are met:

(i) the financial asset is held within a business
model whose objective is achieved by both
collecting contractual cash flows and selling
financial assets; and

(ii) the contractual terms of the financial asset
give rise on specified dates to cash flows that
are solely payments of principal and interest
on the principal amount outstanding.

A financial asset is measured at fair value through
profit or loss unless it is measured at amortized
cost or at fair value through other comprehensive
income.

All financial liabilities are subsequently measured
at amortized cost using the effective interest
method or fair value through profit or loss.

(2) Initial recognition and measurement

The Company recognizes financial assets and
financial liabilities when it becomes a party to
the contractual provisions of the instrument. All
financial assets and liabilities are recognized at
fair value at initial recognition, plus or minus,
any transaction costs that are directly attributable
to the acquisition or issue of financial assets
and financial liabilities that are not at fair value
through profit or loss.

(3) Financial assets subsequent measurement

Financial assets are subsequently measured
at amortized cost, fair value through other
comprehensive income (FVOCI) or fair value
through profit or loss (FVTPL), as the case
may be, except for the investments where no
information is available with the Company. Such
investments are subsequently measured at cost.
Financial liabilities are subsequently measured at
amortized cost or fair value through profit or loss.

(4) Effective interest method

The effective interest method is a method of
calculating the amortized cost of a debt instrument
and allocating interest income over the relevant
period. The effective interest rate is the rate that
exactly discounts estimated future cash receipts
through the expected life of the debt instrument,
or, where appropriate, a shorter period, to the net
carrying amount on initial recognition. Income
is recognized on an effective interest basis for
debt instruments other than those financial
assets classified as at FVTPL. Interest income is
recognized in profit or loss and is included in the
"Other income" line item.

(5) Trade receivables

Trade receivables are the contractual right
to receive cash or other financial assets and
recognized initially at fair value. These are
subsequently measured at amortized cost (Initial
fair value less expected credit loss). Expected
credit loss is the difference between all contractual
cash flows that are due to the Company and all
that the Company expects to receive (i.e. all cash
shortfall), discounted at the effective interest rate.

(6) Equity investments

All equity investments in the scope of IND AS 109
are measured at fair value other than investments
in subsidiary, associate & Joint Venture which are
stated at cost as per IND AS 27 'separate financial
statement'. For all other equity instruments, the

Company may make an irrevocable election
to present in other comprehensive income
subsequent changes in the fair value. The
Company makes such election on an instrument -
by - instrument basis. For other equity instrument
due to non-availability of sufficient and recent
information, cost is taken as appropriate estimate
of fair value with reference to IND AS 109 'financial
instrument'.

(7) Cash and cash equivalents

Cash and cash equivalent in the balance sheet
comprise cash at banks and on hand and short¬
term deposits with an original maturity of
twelve months or less, which are subject to an
insignificant risk of changes in value.

(8) Financial liabilities

Financial liabilities are recognized initially at fair
value less any directly attributable transaction
costs. These are subsequently carried at
amortized cost using the effective interest method
or fair value through profit or loss. For trade and
other payables maturing within one year from
the balance sheet date, the carrying amounts
approximate fair value due to the short maturity
of these instruments.

(9) Trade payables

Trade payables represent liabilities for goods
and services provided to the Company prior to
the end of financial year and which are unpaid.
Trade payables are presented as current liabilities
unless payment is not due within 12 months after
the reporting period or not paid/ payable within
operating cycle. They are recognized initially
at their fair value and subsequently measured
at amortized cost using the effective interest
method.

(10) Borrowings

Borrowings are initially recognized at fair value,
net of transaction costs incurred. Borrowings
are subsequently measured at amortized cost.
Any difference between the proceeds (net of
transaction costs) and the redemption amount is
recognized in profit or loss over the period of the
borrowings using the effective interest method.
Fees paid on the establishment of loan facilities
are recognized as transaction costs of the loan.

Borrowings are classified as current liabilities
unless the Company has an unconditional right
to defer settlement of the liability for at least 12

months after the reporting period. Where there
is a breach of a material provision of a long-term
loan arrangement on or before the end of the
reporting period with the effect that the liability
becomes payable on demand on the reporting
date, the Company does not classify the liability
as current, if the lender agreed, after the reporting
period and before the approval of the financial
statements for issue, not to demand payment as
a consequence of the breach.

(11) Equity Instruments

An equity instrument is any contract that evidences
a residual interest in the assets of Company after
deducting all of its liabilities. Equity instruments
are recognized at the proceeds received, net of
direct issue costs.

(12) Derecognition of financial instrument

The Company de-recognizes a financial asset
when the contractual rights to the cash flows
from the financial asset expire or it transfers the
financial asset and the transfer qualifies for de¬
recognition under IND AS 109. A financial liability
(or a part of a financial liability) is de-recognized
from the Company's balance sheet when the
obligation specified in the contract is discharged
or cancelled or expires.

(13) Offsetting of financial instruments

Financial assets and financial liabilities are offset
and the net amount is reported in the balance
sheet if there is a currently enforceable legal right
to offset the recognized amounts and there is an
intention to settle on a net basis, to realize the
assets and settle the liabilities simultaneously.

(14) Financial guarantee

Financial guarantee contracts issued by the
entities are those contracts that require a
payment to be made to reimburse the holder
for a loss it incurs because the specified debtor
fails to make a payment when due in accordance
with the terms of a debt instrument. Financial
guarantee contracts are recognized initially as a
liability at fair value, adjusted for transaction costs
that are directly attributable to the issuance of the
guarantee. Subsequently, the liability is measured
at the higher of the amount of loss allowance
determined as per impairment requirements
of IND AS 109 and the amount recognized less
cumulative amortization.

(xix) Non-current assets held for sale/ distribution to
owners and discontinued operations

The Company classifies non-current assets (or disposal
groups) as held for sale if their carrying amounts will
be recovered principally through a sale rather than
through continuing use. Held for sale is classified only if
the asset (or disposal group) is available for immediate
sale in its present condition subject only to the terms
that are usual and customary for sale for such assets
(or disposal group) and its sale is highly probable i.e.
management is committed to sale, which is expected
to be completed within the period of contract, as
may have been extended by the term of the contract
or otherwise. Sale transactions include exchanges of
non-current assets for other non-current assets when
the exchange has commercial substance. Non-current
assets (or disposal group) that is to be abandoned are
not classified as held for sale. Non-current assets held
for sale and disposal groups are measured at cost as
the fair value is not available with the Company the
lower of their carrying amount and the fair value less
costs to sell. Assets and liabilities classified as held for
sale are presented separately in the balance sheet.

Interest and other expenses attributable to the liabilities
of a disposal group classified as 'held for sale' will
continue to be recognized.

Non-current asset (or disposal group) is reclassified
from 'held to sale' if the criteria are no longer met and
measured at lower of:

(i) carrying amount before the asset (or Disposal
group) was classified as held for sale, adjusted
for any depreciation, amortization or revaluations
that would have been recognized had the asset
(or disposal group) not been classified as held for
sale; and

(ii) Its recoverable amount at the date of the
subsequent decision not to sell.

Any adjustment to the carrying amount of a non-current
asset that ceases to be classified as held for sale is
charged to profit or loss from continuing operations in
the period in which criteria are no longer met.

A disposal group qualifies as discontinued operation
if it is a component of an entity that either has been
disposed-off, or is classified as held for sale, and:

(i) represents a separate major line of business or
geographical area of operations;

(ii) is part of a single coordinated plan to dispose of
a separate major line of business or geographical
area of operations; or

(iii) is a subsidiary acquired exclusively with a view to
re-sell.

37. GOING CONCERN

The Company has incurred losses in the current and previous years. The Company has huge challenges in meeting its operational obligations,
current liabilities including outstanding dues to the statutory authorities, Bank Loans and Public Deposits. The Board of Directors of the
Company, as appointed by the Union of India with the approval of Hon'ble Supreme Court, is in the process of estimating the contractual
liabilities and the final outcome of contingent liabilities from the realizable value of available assets at the contracted value in the current
form, which is an on-going activity.

In compliance of the directions of the Hon'ble Supreme Court, as contained in its order dated 20th January 2020, the newly appointed Board
of Directors has already stated its position in the Resolution Framework submitted in the Hon'ble Supreme Court on 15.07.2020, followed
by updated versions submitted before the Hon'ble Supreme Court on 05.02.2021 and 08.08.2022, vide which the Hon'ble Supreme Court
has been requested to grant certain reliefs and concessions so that the Company is able to fulfill its obligations towards the construction
and completion of stalled and in-complete projects and meet other liabilities. Apart from the mandate of completion of various projects and
handing over the completed units to the Homebuyers, the Government appointed Board of Directors has taken a comprehensive view of
all pending and other projects and made proposals qua other issues which have a bearing on the Company operating as a going concern.
These include various other liabilities and suggested a road map for addressing the same. Though the Hon'ble Supreme Court has yet to
take decisions in principle on these issues, clear messages have been given on issues like treatment of refunds to Homebuyers and resultant
units becoming a part of the unsold inventory of Unitech, the FD holders being released only the principal amounts of their FDs, and so on
and so forth.

As regards the dues of secured creditors, it is important to keep in view that they are having rights over land assets mortgaged to them,
the monetization of which in due course should help in meeting a considerable part of their dues. The Hon'ble Supreme Court vide its
order dated 16.01.2025 asked the applicant-banks/ financial institutions to engage in dialogue with the Management of Unitech Limited
and explore the possibility of One Time Settlement ('OTS') in furtherance of the interest of the parties. The Hon'ble Supreme Court again
directed, vide its subsequent order dated 22.01.2026, that "... we want the Board and the banks to have a dialogue at the earliest...".

Thereafter, the Hon'ble Supreme Court vide its orders dated 25.02.2026 directed the Government appointed Board of Directors and the
Banks/ ARCs/ FIs to engage in dialogue with the secured creditors to explore the possibility of One Time Settlement (OTS) and that the first
meeting in this behalf be held on 6th March 2026, followed by subsequent meetings as may be required, outcome of which is to be placed
before the Hon'ble Court before the next date of hearing scheduled for 15th April 2026. In the said order, the Hon'ble Supreme Court has
also directed the Board to hold another meeting on the subject of disbursement of earlier sanctioned loans as well as sanction of fresh loans
to the Homebuyers of Unitech projects. The Hon'ble Court has, in the meantime, also stayed the sale of unsold inventories vide its orders
dated 25.02.2026.

Pursuant thereto, the Board of Directors held its meeting with the Secured Creditors on 06.03.2026, followed by individual meetings at the
level of the Management from 13.03.2026 to 27.03.2026, and lastly on 07.04.2026 at the level of Board of Directors to consider and deliberate
on the OTS proposals. The recommendations of the Board have been placed before the Hon'ble Supreme Court on 15th April, 2026 for
consideration and directions as deemed appropriate.

Vide orders dated 15.04.2026, the Hon'ble Supreme Court has asked the counsels of ARCs/ Banks/ FIs to respond to the reliefs which have
been prayed for by the Unitech Board of Directors. In subsequence thereto, the Hon'ble Supreme Court vide orders dated 29.04.2026
has asked all the learned counsels to provide their suggestions keeping in mind the best economic model possible to resolve this entire
controversy. The Hon'ble Supreme Court has further stated that once they get a fair idea as regards the suggestions, the Court shall proceed
to pass some orders. The next date of hearing is scheduled for 28th May, 2026 as per the computer-generated list.

As regards the issues pending between Noida and Greater Noida Authorities and Unitech Group, the Hon'ble Supreme Court, vide its order
dated 18.12.2024, requested Hon'ble Justice (Retd.) Abhay Manohar Sapre, a former Judge of the Supreme Court, to make an attempt
to amicably resolve the issues of outstanding dues and possession of allotted land between Noida/ Greater Noida Authorities and the
Unitech. Pursuant thereto, Justice A.M. Sapre held a series of meetings with the NOIDA/ Greater NOIDA Authorities and Unitech, wherein
no consensus could emerge on the issues in dispute. Justice A.M. Sapre thereafter filed his report before the Hon'ble Supreme Court. The
Hon'ble Court thereafter directed NOIDA to approve the revised layout plans of Sectors 96-97-98, Sector-113 and Sector-117 within a period
of 02 weeks. NOIDA has approved the revised layout plans/ building plans of three main Projects (Sector 96-97-98, Sector 113 and Sector
117) vide their letters dated 08.09.2025. As per directions of the Hon'ble Supreme Court vide orders dated 22.01.2026, NOIDA has also
granted ancillary approvals relating to laying of services on 24.01.2026.

The reasons for opting against the winding up of the Company or its reference under IBC have also been explained in the application filed
with the Resolution Framework. Pending a final decision of the Hon'ble Supreme Court, the Financial Statements have, accordingly, been
drawn on an on-going basis.

(b) Valuation techniques used to determine Fair value

"The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data
available. The fair values of the 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.

Note 38 (ii) Financial Risk Management

The Company's financial risk management is an integral part of how to plan and execute its business strategies. The Company is exposed
to market risk, credit risk and liquidity risk. The company's focus is to foresee the unpredictability of financial markets and seek to minimize
potential adverse effects on its financial performance.

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

The Company's activities are exposed to market risk, credit risk and liquidity risk.

(I) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market prices comprise three types of risk: currency rate risk, interest rate risk and other price risks, such as equity price risk
and commodity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, investments, and
derivative financial instruments.

The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks.

(a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market interest rates. In order to optimize the Company's position with regard to interest income and interest expenses and to
manage the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by balancing the
proportion of the fixed rate and floating rate financial instruments in its total portfolio.

(i) The exposure of group borrowings to interest rate changes at the end of reporting period are as follows:

(b) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates. The Company has no foreign currency loans in current year end and previous year. Therefore no
sensitivity is provided.

(c) Price Risk

The company exposure to equity securities price risk arises from the investments held by company and classified in the
balance sheet at fair value through profit and loss.

II. Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company.
The company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appro¬
priate, as a means of mitigating the risk of financial loss from defaults. The company's credit risk exposure towards its counterparties
are continuously monitored . Credit exposure of any party is controlled , reviewed and approved by the appointed company official
in this regard.

The average credit period is 30 days.

No interest is charged on trade receivables for the first 30 days from the date of the invoice. Thereafter, interest is charged on case
to case basis.

III. Liquidity Risk

Liquidity risk is defined as the risk that company will not be able to settle or meet its obligation on time or at a reasonable price.
The Company's objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The
Company's management is responsible for liquidity, funding as well as settlement management. In addition, processes and policies
related to such risk are overseen by senior management. Management monitors the company's net liquidity position through rolling,
forecast on the basis of expected cash flows.

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on
contractual undiscounted payments:

Note 38 (iii) Capital Management
(A) Risk Management

The Company manages its capital to ensure that the company will be able to continue as going concerns while maximizing the return to
stakeholders through the optimization of the debt and equity balance.

The Company's risk management committee reviews the capital structure of the Company on a semi-annual basis. As part of this review,
the committee considers the cost of capital and the risks associated with each class of capital. The Company monitors capital on the basis
of following gearing ratio, which is net debt divided by total capital plus debt

42. SEGMENT REPORTING:

The Company is primarily in the business of Real Estate Development and related activities, including construction, consultancy and
rentals, among others. Further, most of the business conducted is within the geographical boundaries of India.

In view of the above, in the opinion of the Management and based on the organizational and internal reporting structure, the Company's
business activities as described above are subject to risks and returns. Further, since the business activities undertaken by the Company
are subsisting within India, in the opinion of the Management, the business environment in India is considered to have similar risks and
returns. Consequently, the Company's business activities primarily represent a single business segment and the Company's operations
in India represent a single geographical segment.

45. LEASED ASSETS:

i) Company as a Lessee:

Lease obligations: The Company has taken buildings and office equipment on lease basis. The lease rentals are payable by the
Company on a monthly/ quarterly basis as per terms of the Lease Agreements. Future minimum lease rentals payable as at 31^st
March, 2026 as per the lease agreements are tabulated as under:

47. Contingent liabilities and commitments (to the extent not provided for)

The Management has already submitted the Resolution Framework before the Hon'ble Supreme Court wherein the Company has
sought various reliefs on account of penalties, interest liabilities etc. due to be paid to Statutory Authorities, Banks, Financial Institutions,
Fixed Deposit Holders etc. Since a view on various reliefs claimed in the Resolution Framework is yet to be taken by the Hon'ble
Supreme Court, it is not feasible at this stage to assess the overall impact of its contingent liabilities.

(i) Interest on delayed payment by customers and expenditure on account of compensation/ penalty for project delays accounted for
at the time of acceptance/ settlement with the customers due to uncertainties with regard to determination of amount receivable/
payable have not been considered. The amount of contract revenue may decrease as a result of penalties arising from delays
caused by the contractor in the completion of the contract, where such penalties are reasonably certain.

Legal challenges have been filed against the Company at various judicial forums including various Consumer Forums and Courts
(besides those pending in the Hon'ble Supreme Court) by homebuyers, Fixed Deposit Holders and others. Ascertaining the liability
on this account that may devolve on the Company is presently indeterminate.

The Hon'ble Supreme Court had vide its Order dated 08.09.2017 appointed an Amicus Curiae with directions to create a web
portal where the homebuyers could indicate their option of (i) refund of money they have paid to the Company/ Companies in the
Group for purchasing Residential Units, or (ii) Possession of House. The Hon'ble Supreme Court also started the process of giving
Refunds out of the amounts deposited by the Company with the Court's Registry and has ordered to issue partial refunds to those
customers who have obtained a decree for refund from any judicial forum.

Faced with a large number of lAs filed in the Supreme Court by different stakeholders and upon going through the report of Forensic
Auditors, the Hon'ble Supreme Court directed the Union of India vide its order dated 18.12.2019 to propose appointment of an
independent Board of Directors for Unitech Limited. The proposal submitted by the Ministry of Corporate Affairs was approved by
the Hon'ble Supreme Court vide its order dated 20th January 2020, with simultaneous supersession of the erstwhile management.
The Ministry of Corporate Affairs, accordingly, issued appointment orders of the CMD on 21.01.2020, six other Directors on
22.01.2020 and one Director on 03.02.2020, thereby constituting a new Board of Directors of the Company. Complying with the
directions contained in the said order of the Hon'ble Supreme Court, the newly appointed Board of Directors has submitted the
Resolution Framework, addressing the matters of homebuyers, Fixed Deposit Holders and other stakeholders. The homebuyers,
Fixed Deposit Holders and others, as directed by the Hon'ble Supreme Court, have made their comments/ suggestions on the
Resolution Framework submitted by the Company on the web portal maintained by the learned Amicus Curiae, appointed by the
Hon'ble Supreme Court in this regard. At present, the Resolution Framework is under the consideration of the Hon'ble Supreme
Court. The final quantum of liabilities of these cases can be ascertained only upon the final decision by the Hon'ble Supreme Court.
The amount involved for delayed penalties for the properties for which customers have already been offered possession is already
accounted for in the books of account. Legal challenges have been filed by homebuyers and others against the Company at various
judicial forums and it is estimated that the total value of such claims would be Rs. 42,859.79 Lakh, which the Company does not
acknowledge as debts.

The Company has many residential and commercial projects in the state of Haryana. The Company has already accounted for the
principal outstanding amount of EDC, IDC and License Fee. However, claims of delayed interest and penal interest amounting to
Rs. 80,114.51 Lakh, as claimed by the respective authorities, have not been considered in the Standalone Financial Statements. The
Company has also filed an IA before the Supreme Court qua the demands of Government of Haryana. The Company is hopeful that
the demands for interest and penal interest may be waived off at the time of decision on the said IA and the Resolution Framework.

The Company has many residential and commercial projects in the state of Uttar Pradesh in Noida and Greater Noida region. The
demands on account of time extension fees, farmers' compensation, interest and penal interest have not been considered in the
Standalone Financial Statement. The Company believes that these are exorbitant demands and has accordingly filed an IA in the
Supreme Court challenging the demands (amounting to Rs. 14,301.75 Crore) raised by Noida and is hopeful that such exorbitant
demands are not likely to stand the scrutiny of law and may be substantially waived of in the course of decision on the said IA and
the Resolution Framework.

(ix) Commitments

(a) Estimated value of contracts in capital account remaining to be executed amounting to Rs. 9,626.79 Crore. - It includes the
cost of tenders already awarded, processed & to be processed for Lot -1 (15 tenders), Lot -2 (34 tenders), Lot -3 (38 tenders),
Lot -4 (45 tenders) and Retrofitting (25 &7 tenders).

(b) Investment in 1,000,000 equity shares of Rs. 10/- each at a premium of Rs. 9,990/- per share aggregating Rs. 1,00,000.00 Lakh
has been made in Joint Venture Company, Shivalik Ventures Pvt. Ltd. An amount of Rs. 49,162.00 Lakh has been paid against
the allotment of fully paid-up shares. The balance securities premium of Rs. 50,838.00 Lakh will be accounted for as and when
payment will be made.

(c) Investment in shares of subsidiaries amounting to Rs. 1,559.75 Lakh (Previous year Rs. 1,559.75 Lakh) is pledged as securities
against loans taken by the Company and subsidiary. Investment in shares of Joint Ventures (including unreleased pledged
shares) amounting to Rs. 51.75 Lakh (Previous year Rs. 51.75 Lakh) are pledged as securities against loan taken by the
Company and its Joint Venture. Investment of subsidiaries in the shares of its associates amounting to Rs. 2.45 Lakh (Previous
year Rs. 2.45 Lakh) is pledged as securities against loan taken by the Company.

48. Accounting of projects with co-developer

The Company is developing certain projects jointly with Pioneer Urban Land & Infrastructure Limited and its other Group companies.
All the development expenses and sale proceeds booked during the year under audit are transferred to the co-developer at the year-
end as per the agreement with the co-developers.

49. Trade payables (due to Micro, Small and Medium scale Enterprises)

The Company is in the process of seeking balance confirmations along with MSME registration confirmations from Vendors, for which,
the Company has sent 2,264 letters through couriers to Vendors for confirmation of the details till March 2026.

Further, remaining vendors from whom no response was received was sent another letter giving final opportunity to confirm their
MSME status. Company have received response from 159 Vendors which have been taken on record.

50. 50. There have been delays in the payment of dues of non-convertible debentures, term loans & working capital loans (including
principal, interest and/or other charges as the case may be) to the lenders of the Company who have taken/ initiated action against the
Company, and the total of such outstanding amounts runs into Rs. 10,95,453.02 Lakh as on 31.03.2026 (Previous Year Rs. 10,08,838.71
Lakh). Some of the lenders have initiated action under the SARFAESI Act to take over the respective properties provided as security
to the lenders. The Company has challenged the action of the lenders before the Debt Recovery Tribunals (DRTs). The matter has also
been captured in the Resolution Framework, as submitted to the Hon'ble Supreme Court.

51. The Hon'ble Supreme Court, vide its order dated 20th January 2020, has, inter alia, issued directions that the Board of Directors of
Unitech Limited, as existing on that date, be superseded with immediate effect in order to facilitate the taking over of management
by the new Board of Directors constituted in terms of the proposal submitted by Government of India. In these Financial Statements,
references have been made hereunder to the Resolution Framework (RF) for Unitech Group, which has been prepared and approved
by the Board of Directors in their meeting held on 17.06.2020, followed by updations of the RF approved by the Board of Directors in
their subsequent meetings held on 10.09.2020 and 28.10.2020 and 27.04.2022.

The updated Resolution Framework has been placed before the Hon'ble Supreme Court on 05.02.2021 and 08.08.2022 respectively.
The RF contains various proposals like determining admitted liabilities & claims, proposing non-payment of penalty, interest, default
interest or damages to creditors, stakeholders, homebuyers, landowners, leaseholders or any Authority, detailing the Resolution
Framework for Company's projects, detailing the Resolution Framework for non-project assets etc. The RF seeks various reliefs and
concessions, like, (a) Homebuyers' Credit Lines, (b) Immunity for the Board, their appointed Key Management Personnel, employees,
advisors and consultants for any action taken by them in good faith, (c) Grant of benefits to the Company, its subsidiaries and joint
ventures and Project Entities of protections similar to section 32A of the Insolvency and Bankruptcy Code, 2016, (d) Priority Finance
and other borrowings for implementation of the Framework, and (e) Tax related reliefs and concessions. Besides, the RF also seeks
some specific directions like imposition of moratorium, consolidation of Unitech Group, temporary exemption from compliances under
RERA, amongst others. As the RF is still pending consideration of the Hon'ble Supreme Court, the impact of the proposed reliefs,
concessions etc. has not been considered in the Books of Accounts.

52. A Forensic Audit of the Company was conducted as per directions of the Hon'ble Supreme Court, and the report on the Forensic Audit
was submitted in a sealed cover to the Hon'ble Supreme Court. The report on the Forensic Audit is not available with the Company or
its Board of Directors. However, the said report was made available to the Enforcement Directorate, which is seized of investigations
into the related matters. Hence, the impact of observations of the Forensic Audit Report can be ascertained only after these processes
reach some finality.

53. Pursuant to section 74 (2) of the Companies Act, 2013, the Company had filed an application before the National Company Law
Tribunal (NCLT) for seeking, inter-alia, re-scheduling of repayment of the outstanding Public Deposits, including interest thereon as is
considered reasonable, in March 2015. The Hon'ble NCLT dismissed the said application. The appeal against the said order was also
dismissed by the Hon'ble NCLAT vide its order dated 31st January, 2017.

Subsequent to the new Board of Directors taking over the management, a Resolution Framework has been submitted to the Hon'ble
Supreme Court by the Company for addressing the issues of homebuyers, Fixed Deposit Holders and others. This issue has duly been
recognized in Chapter 8 of the Resolution Framework and the Company shall take action as per the directions of the Hon'ble Court in
this behalf.

Some Depositors filed intervention applications (lAs) before the Hon'ble Supreme Court. Considering their applications, the Hon'ble
Supreme Court directed the Amicus Curiae to create a web-portal where the Depositors could provide their requisite information.
Accordingly, in compliance of the ibid directions, the Ld. Amicus Curiae created a web-portal for the purpose.

Hon'ble Supreme Court vide its order dated 12th December, 2019, allowed part refunds to FD Holders who were senior citizens,
aged 60 years and above. Ten per cent of the amount deposited with the Registry at that time i.e. Rs. 17.4 crore was allocated for
the purpose. Having regard to the huge number of FD Holders, who had registered themselves on the web-portal, the Hon'ble Court
allocated a further sum of Rs. 30 Crore for distribution amongst them. The additional amount of Rs. 30 Crore was also to be disbursed
to FD Holders of the age group of 60 years and above, in terms of the earlier direction/s. Out of the allocated sum of Rs. 47.40 Crore,
an amount of Rs. 31.23 Crore has been disbursed till 31.03.2023 as per the report of Ld. Amicus Curiae. Further, we have received
Rs. 19.02 Crores from Supreme Court Registry on ground of medical exigency, out of which Rs. 18.68 Crores has been disbursed till
31.03.2026. The new Management neither processes any case nor is it authorized to do so till the Hon'ble Supreme Court takes a final
decision in this matter.

The matter being sub-judice, the Company has, therefore, not provided for the interest payable on Public Deposits since 1st April, 2017,
which works out to Rs. 61,234.92 Lakh upto year ended 31st March, 2026. The issue of payment of Public Deposits to the FD Holders,
limited to the principal amount, is a part of the Resolution Framework, which is pending consideration of the Hon'ble Supreme Court.
It may, however, also be noted that the Hon'ble Supreme Court has been approving the payment of Principal amount only in various
cases considered on grounds of medical exigencies. The latest directions wrt FD holders for payment of principal amount only have
been passed by the Hon'ble Supreme Court vide orders dated 29.04.2026 and issue of interest component has been kept pending.

54. The Company was awarded a project for development of amusement-cum-theme Park in Chandigarh by the UT Administration of
Chandigarh. The Chandigarh Administration unilaterally and illegally terminated the said Development Agreement. The Company filed
a Writ Petition before the Hon'ble High Court of Punjab & Haryana challenging the termination of Development Agreement. The matter
was finally referred for Arbitration and the Company received an Arbitral Award dated 29th June 2021 passed by the Arbitral Tribunal.
The Company has also filed the objection petition before the Sessions Court in Chandigarh in respect of the Arbitral Award qua non¬
payment of interest. Further, the Company has a good case and, accordingly, no provision has been considered necessary.

55. The Company has non-current investments (long term investments/ loans/ advances) in some subsidiaries (including advance for
purchase of shares for proposed subsidiaries) which have accumulated losses. Some of these subsidiaries have incurred loss during
the current and previous year(s) and the current liabilities of these subsidiaries also exceed their current assets as at the respective
Balance Sheet dates. Management has evaluated this matter and keeping the overall financial position of the Company in view, where it
is expected to have substantial erosion in the value of assets held by the subsidiaries, the provision for diminution of such investment,
and loans and advances to the subsidiaries has been made by the Company in the Standalone Financial Statements.

56. Advances amounting to Rs. 31,290.99 Lakh (net of provision for doubtful advances) (previous year ended 31st March, 2025 - Rs.
31,290.99 Lakh (net of provision for doubtful advances) are outstanding in respect of advances for purchase of land, projects pending
commencement, joint ventures and collaborators which, as represented by the management, have been given in the normal course
of business to land-owning companies, collaborators, projects and for purchase of land. An amount of Rs. 30,000.00 Lakh has been
provided for doubtful advances during the preceding years. The new Management has already initiated the recovery proceedings qua
the outstanding amounts.

57. Greater Noida Industrial Development Authority ("GNIDA") had allotted a Plot No GH-01 (Land admeasuring 100 Acres) on leasehold
basis to M/s Unitech Limited vide letter dated 15.09.2006. The said land was allotted at a cost of Rs 55,573.69 Lakhs on installment
basis. Since there were defaults in payment of installments, the Holding Company received an order for 'cancellation of lease deed'
from GNIDA vide letter dated 18th November 2015. In subsequence thereto, GNIDA forfeited an amount of Rs 13893.42 Lakh vide letter
dated 18th March, 2020.

The above said land was also mortgaged and the Company registered such mortgage to a third party on behalf of lender for the Non¬
Convertible Debenture (NCD) facility extended to the Company and, due to default in repayment of these NCDs, the debenture holders
served a notice to the Company under section 13(4) of the SARFAESI Act and have also taken notional possession of this land.

In the meantime, the Company had contractually entered into agreements with 352 homebuyers and had also received advances from
such buyers amounting to Rs. 6,682.10 Lakh (net of repayment). No contract revenue has been recognized on this project.

GNIDA, in the meanwhile, deposited an amount of Rs. 7,436.35 Lakh (Rs. 6,682.10 Lakh and interest @ 6% on the principal amount
of Rs. 6,682.10 Lakh), with the Registry of the Supreme Court on behalf of the Holding Company, out of the monies paid by the
Holding Company, in terms of the Order dated 18.09.2018 of the Hon'ble Supreme Court. This amount stands refunded to about 352
homebuyers pursuant to the directions of the Hon'ble Supreme Court.

The cancellation of lease deed has been challenged by the Company and the same is still pending before the Hon'ble High Court of
Allahabad for final disposal. The Company has, subsequently, shown the amount of Rs. 18,339.80 Lakh as recoverable from GNIDA in
its Books of Account.

Further, the Management is also in the process of filing a comprehensive IA before the Hon'ble Supreme Court qua GNIDA demands
from Unitech, including seeking appropriate directions on the subject.

j8. The Company was accounting for its investment in one of its subsidiaries, namely, M/s Unitech Power Transmission Limited, as non¬
current assets held for sale. The Board of Directors of the Company, in its meeting held on 17th January, 2025, approved the proposal
for 100% equity disinvestment of M/s Unitech Power Transmission Limited (UPTL), a wholly-owned subsidiary of M/s Unitech Limited,
at a price of Rs. 5,089.00 lakh on "as-is-where-is-whatever-is" basis, in favour of M/s Auro Infra Private Limited, pursuant to the approval
of the Hon'ble Supreme Court vide its order dated 11.12.2024. In furtherance thereto, Share Purchase Agreement was executed on
11th March,2025 amongst M/s Unitech Ltd, six subsidiary companies (holding 10 shares each jointly with M/s Unitech Ltd.), M/s
Unitech Power Transmission Limited and M/s Auro Infra Private Limited. The due consideration for the transaction has been received
by M/s Unitech Ltd and the entire shareholding has been transferred in favour of M/s Auro Infra Private Limited. As such, M/s Unitech
Power Transmission Limited ceases to be the subsidiary company of M/s Unitech Ltd.

The Company has a property of Property situated at Plot no 14, Echelon Institutional Area, Sector-32, Gurgaon, Haryana, which has
been rented to independent parties on operating lease. Carrying value of Land is Rs. 271.61 Lakh and Building is Rs. 1,236.43 Lakh and
total for the property is '1,508.03 Lakh as at 31 March 2026. Fair value of the property is '11,871.72 Lakh. The valuation is performed
by Mr. Varun Sharma, an independent Chartered Engineer & Govt. Regd. valuer on the basis of market value approach.

60. A new Section 115BAA was inserted in Income Tax, Act, 1961, by Government of India on 20th September, 2019 vide Taxation Laws
(Amendment) Ordinance, 2019, which provides an option to the Companies for paying income tax at reduced rates in accordance with
the provisions/ conditions defined in the said section. The Company has decided to continue with the existing tax structure for the year
ended March 31,2026.

On 30th March, 2019, MCA has issued amendment regarding the income tax uncertainty over Income Tax treatment. As per the
Company's assessment, there are no material income tax uncertainties over income tax during the current financial year.

The Company has not created any kind of deferred tax assets on account of lack of reasonable certainty of having taxable profits and
in foreseeable future against which such tax assets can be adjusted.

61. As regards trade payables (including MSME vendors), which primarily relate to the unpaid bills of Contractors and Vendors, and which
prima facie may not be payable to the extent shown in the Books, the Management is in the process of ascertaining the genuineness
of all the operational liabilities, which are being carried forward as a legacy from the erstwhile management in the accounts. A total of
47 Contractors have filed IAs in the Supreme Court claiming their outstanding payments for the works executed by them during the
period of erstwhile management. The Hon'ble Supreme Court has referred these IAs to Justice (Retd.) A.M. Sapre for consideration,
who has started hearings in the matters.

As regards all other opening balances which are outstanding for a long period of time and which are also being carried forward as
a legacy balance, the Unitech Group is in the process of collecting the supporting documents to take an appropriate decision in the
matter. Though some progress has been made in this behalf, the process of compiling banks statements/ bank balance confirmations
from all the concerned banks of the Group is likely to take some time as some of the banks are taking time to supply the requisite
information. The Group has various outstanding statutory liabilities since long and the same are unpaid due to the pendency of matters
before various Adjudicating Authorities and liquidity constraints with the Group.

62. The erstwhile management had invested in Telangana State through a Collaboration Agreement with M/s Dandamundi Estate and Mr.
D.A. Kumar and deposited an amount of Rs. 48,131.00 Lakh (out of which an amount of Rs. 600.00 Lakh got adjusted on account of
some dues of M/s Dandamundi Estate). The Company had also obtained bank loans to the tune of Rs. 33,500.00 Lakh against security
of these lands, legal titles of which were never transferred in the name of the Company. However, the Company had already settled
the said loan account and nothing remains outstanding against the same. The new Management has filed an Intervention Application
before Hon'ble Supreme Court for the recovery of the amounts deposited with M/s Dandamundi Estate and Mr. D.A. Kumar along with
interest @ 18% p.a. and the Company has not created any provision against the said deposit in the Books of Accounts on account of
the matter being sub-judice.

Notwithstanding the IA pending before the Hon'ble Supreme Court, the management has held meetings at the level of Board's Directors
and Justice A.M. Sapre with Mr. D.A. Kumar and visited the land sites twice on 24.06.2022 and 02.01.2023.

It was agreed in the last meeting held at the level of Justice Sapre and the Chief Secretary to Government, Telangana that the District
Administration would complete the site survey and identify the areas, which have been encroached. It was also inter-alia directed by
the Chief Secretary that no further sale deeds may be allowed to be executed on the land parcels owned by Unitech Limited and its
collaborator. Notwithstanding the above, however, efforts to find an amicable resolution of the issues have not succeeded so far.

63. The Company had a branch office in Libya, whose Financial Statements/ information reflect total assets of Rs. 1,328.47 Lakh (Previous
year - Rs. 1,328.47 Lakh) as on 31st March, 2026 and total revenues of Rs. NIL (Previous year - NIL) for the year ended on that date, as
considered in the Standalone Financial Statements as described above. The Company has also made provision against all assets of Rs.
1,328.47 Lakh (Previous year - Rs. 1,328.47 Lakh). The Financial Statements/ information of this Branch have not been audited by the
Branch Auditor due to the adverse political situation prevailing in Libya.

64. The company received a detailed statement of accounts from the Supreme Court's Registry in the month of November, 2022. Based
on available details and other updates/ orders of the Hon'ble Supreme Court from time to time, an amount of Rs. 186,84.56 Lakhs is to
be received from the Registry of Hon'ble Supreme Court as on 31st March, 2026. However, the amount receivable from the Registry is
subject to reconciliation.

65. The Company has income from maintenance charges amounting to Rs. 3,481.21 Lakh during the year ended 31st March, 2026 (Previous
Year Rs. 3,540.45 Lakh).

As far as the mapping of monies received from the residents (with customer codes) towards maintenance charges are concerned,
it is clarified that a mixed bag of arrangements, which has been continuing since long. This observation relates to a total of ten
projects comprising 06 Residential and 04 JV Commercial projects. This comprises of (i) where the RWAs are collecting the money
and spending from out of a joint account, (ii) where the RWA are collecting and spending on their own, and (iii) Where Unitech and
its JV are collecting the Maintenance Charges and spending the same. The main problem is that the RWAs have not maintained the
customer-wise accounts with their customer codes. This has been taken up with the concerned RWAs for reconciliation thereof.

66. The Company had received an Arbitral Award dated 6th July, 2012 passed by the London Court of International Arbitration (LCIA)
wherein the Arbitration Tribunal has directed the Company to purchase the investment of Cruz City 1 (a Company owned by Lehman
Bros.) in Kerrush Investment Ltd. (Mauritius) at the overall value of USD 298,382,949.34 (Previous year USD 298,382,949.34) in Kerrush
Investments Ltd (Mauritius). The High Court of Justice, Queen's Bench Division, Commercial Court London had confirmed the said
Award.

Further, consequent to the order passed by the Hon'ble Delhi High Court in the instant case, the Company is required to make the
aforesaid investment into Kerrush Investments Ltd. (Mauritius). The decree of the aforesaid amount against the Company is pending
for execution. However, the Management is exploring the possibilities of filing an Intervention Application in the Hon'ble Supreme
Court on this subject.

67. Except in the cases of the following two subsidiary companies, the Immovable properties and Investment properties held by all other
subsidiary companies are included in their respective Books of Accounts whereas, the following properties/ investment properties
owned by (i) Sankoo Builders Private Limited, and (ii) Broomfield Developers Private Limited have been accounted for in the Books of
Accounts of Holding Company i.e. Unitech Limited:

70. In compliance of its earlier judgment dated 02.12.2021, the Hon'ble Supreme Court vide its subsequent Order dated 05.03.2022 further
directed M/s Priadarshini Foundations Private Limited to reconvey the land admeasuring 30.71 acres to Unitech Limited within three
weeks. The refund of Rs 25 crores has been made by the Registry of Hon'ble Supreme Court on 12.09.2025 to M/s Priadarshini
Foundations Private Limited as per orders of Hon'ble Supreme Court dated 26.04.2024.

The said reconveyance has been duly executed on 03.08.2023 and the complete land holding of 30.71 acres has duly been transferred
in favour of M/s Dhaulagiri Builders Private Limited and M/s Amaro Developers Private Limited.

71. The Company has not created any kind of Deferred Tax Assets on account of lack of reasonable certainty of having taxable profits and
in foreseeable future against which such tax assets can be adjusted.

72. The Company has created provision for onerous contracts amounting to Rs. 39,501.60 Lakhs after making assessment of estimated
project costs vis-a-vis estimated project revenues.

73. As per approval of Board of M/s Unitech Limited in its meeting held on 28th May, 2024, the Company has invested Rs 1,500 Lakh in the
Rights Issue of Equity Shares of M/s Unitech Holding Limited, a wholly owned subsidiary of M/s Unitech Limited. The Company has
subscribed to 9,37,500 Equity Shares of M/s Unitech Holding Limited, having face value of Rs 10/- each at a premium of Rs 150/- per
share.

74. The Company is providing unpaid interest in its books of accounts in order to remain compliant with the requirements of the Accounting
Standards, as prescribed by Companies Act and not deducting TDS on the provision of interest because interest on NPA accounts is
not falling in the definition of income and income tax is not payable on such amounts.

The Management has taken an independent opinion on Tax Deduction at Source (TDS) on estimated liability created by the Company
based on memorandum statement of accounts received from lenders other than banks. The opinion given by the Expert is on the
following lines:

Query

Whether TDS under section 194 A of Income Tax Act, 1961 (TDS deduction on Interest payments to residents), should be deducted or
not on interest on Inter Corporate Deposits/ Additional Term Loan facilities availed by Unitech Limited from Financial Institutions/ ARCs
which are Non-Performing Assets as declared by Financial Institutions/ ARCs as per the RBI Guidelines.

Reply

It is opined that the interest on NPA accounts are not falling in the definition of income and income tax is not payable on such amounts
and no constructive credit can be said to be payable to NBFCs and ARCs as the realization of the interest and principal component will
depend upon the restructuring or settlement of loan accounts. The company is providing unpaid interest in its books of account to
satisfy the requirements of accounting standards as prescribed by the Companies Act, 2013. Thus, TDS under section 194 A of Income
Tax Act, 1961, in respect of aforesaid amounts, should not be deducted.

As such the Company is providing unpaid interest in its books of accounts in order to remain compliant with the requirements of the
Accounting Standards, as prescribed by Companies Act.

75. The Enforcement Directorate, New Delhi vide F. No.: ECIR/04/DLZO-II/2018 dated 06.06.2018 is currently investigating the affairs of
promoters of Unitech Limited. Vide the ongoing investigations, the ED has provisionally attached various assets of the erstwhile
Management including 40% equity holding of M/s Unitech Hotels Private Limited wherein Unitech Limited holds the balance 60%
equity.

M/s Unitech Hotels Private Limited is involved in developing a 13,005 sq.mt. hotel at Plot No. A-2, Sector -38 A, Noida. The value of the
provisional attachment of 40% equity held by M/s Ranchero Services Limited is valued at USD 8 Million.

76. Additional Regulatory Information:

(i) The Company under the control of new Management does not have any benami property where any proceedings have been
initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and rules made thereunder but, however, litigation under Benami Transactions (Prohibition) Act, 1988 has been
initiated against the erstwhile promoters/ Management.

(ii) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year under audit.

(iii) The Company does not have any charge or satisfaction, which is yet to be registered with the Registrar of Companies beyond the
statutory period.

(iv) Following banks has categorized the Company in the list of Wilful Defaulters till the period ending 31.03.2026:

(v) During the year ending 31st March 2026, no funds have been advanced or loaned or invested (either from borrowed funds or
share premium or any other source or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign
entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. Also, no funds have
been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the
Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall, whether directly or indirectly, lend or invest in other persons or
entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.

(vii) The Company has complied with the number of layers prescribed under Clause (87) of Section 2 of the Companies Act, 2013,
read with the Companies (Restriction on number of Layers) Rules, 2017, from the date of their implementation in terms of Indian
subsidiaries, however, the Management is still in the process of evaluation of the compliance in respect of foreign subsidiaries.

77. Vide PAO no 16/2022 dated 16th June 2022, the Directorate of Enforcement has attached Unitech Group's share in 777 units and
211.41 acres of land. The Management has requested the ED to grant its no objection to the entrustment of above stated properties
to the current Management subject to the approval of Hon'ble Supreme Court of India. Monetization of these assets would go a long
way in mobilizing funds for completion of its various pending projects.

78. Unitech Limited has 185 Indian Subsidiary Companies, out of which 02 wholly owned Subsidiary Companies (namely M/s Alor Golf
Course Private Limited and M/s Uni Homes Private Limited) have been struck-off by the Registrar of Companies during the year.
Consequently, the investment in Subsidiary Companies has reduced by an amount of Rs 10 Lakhs and the liabilities towards loans
of these Subsidiary Companies have been extinguished by an amount of Rs 2.64 Lakhs. The net impact on account of striking-off of
companies has resulted into loss of Rs 7.36 Lakhs in the books of M/s Unitech Limited.

79. On November 21,2025, the Government of India notified four Labour Codes, the Code on Wages,2019; Industrial Relations Code,
2020; Code on Social Security, 2020; and Occupational Safety, Health and Working Conditions Code,2020, consolidating 29 labour
laws. The Ministry of Labour & Employment also issued draft Central Rules and FAQs to facilitate impact assessment. Based on the
best available information and guidance from the Institute of Chartered Accountants of India, the Company has recognized the impact
in the quarter & year ended March 31, 2026 in standalone & consolidated financial results, due to the revised wage definition, which
have been presented under "Employee benefits Expenses" in the financial results.

80. During the period under review, the Profit & Loss Statement includes certain material exceptional items which are of non-recurring in
nature and not related to current period's business activities of the Company. These are basically the corrections of inconsistencies in
financials which were inherited from the erstwhile management.

(i) Based on the financial information/ records available with the Company, correction has been made with regard to one transaction
of Rs 190 Crore, related to the project sold by the Erstwhile Management which was erroneously recorded under 'Project-in-Progress
Pending POCM recognition' (PIP). This item has been expensed off in current period under Exceptional Items in Profit & Loss Account.

(ii) Similar treatment has been made for another item amounting to Rs 127.95 Crore which related to the tax provision on Ind AS
transactions carried out by the erstwhile Management in 2017, which was not corrected in subsequent years. This transaction was
recorded by the erstwhile Management under 'Project-in-Progress Pending POCM recognition' (PIP). This item has been written-off
in current period under Exceptional Items in Profit & Loss Account.

81. With regard to litigations of Unitech Group, it is stated that there is total no. of 4237 court cases which were pending against and for
the Company and Its' subsidiaries, out of which 1806 cases have been disposed-off. As such, there are total no. of 2431 cases which
are pending before various courts, except those cases, which have been filed by the Company, all the cases have been adjourned
sine-die by virtue of moratorium order granted by Hon'ble Supreme Court, vide its order daled 20.01.2020. The financial implications
of litigations cannot be quantified.

82. The Audited Financial Statements were approved for issue by the Board of Directors in their meeting held on 28th May, 2026.