4.21 Provisions

Provisions are recognised when the
Company has a present obligation (legal
or constructive) as a result of a past event,
it is probable that an outflow of resources
embodying economic benefits will be
required to settle the obligation and a reliable
estimate can be made of the amount of the
obligation. When the Company expects some
or all of a provision to be reimbursed, the
reimbursement is recognised as a separate
asset, but only when the reimbursement is
virtually certain. The expense relating to a
provision is presented in the statement of
profit or loss net of any reimbursement.

If the effect of the time value of money is
material, provisions are discounted using
a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability.
When discounting is used, the increase in
the provision due to the passage of time is
recognised as a finance cost.

Contingencies

Provision in respect of contingencies relating
to claims, litigation, assessment, fines,
penalties etc. are recognised when it is
probable that a liability has been incurred and
the amount can be estimated reliably.

Contingent liabilities and contingent
assets:

A contingent liability exists when there is
a possible but not probable obligation, or a
present obligation that may, but probably
will not, require an outflow of resources, or
a present obligation whose amount cannot
be estimated reliably. Contingent liabilities
do not warrant provisions, but are disclosed
unless the possibility of outflow of resources
is remote. Contingent assets are neither
recognised nor disclosed in the financial
statements. However, contingent assets
are assessed continually and if it is virtually
certain that an inflow of economic benefits
will arise, the asset and related income are

recognised in the period in which the change
occurs.

4.22 Share issue Expense

The company adopts Ind AS 32 for accounting
of share issue expenses. Expenses associated
with an equity transaction is accounted
for as a deduction from equity, net of any
related income tax benefit. An expense is
treated as expense associated with an equity
transaction if expenses is directly attributable
to the equity transaction that otherwise
would have been avoided. The costs of an
equity transaction that is abandoned are
recognised as an expense immediately upon
its abandonment.

4.23 Recent pronouncements

Ministry of Corporate Affairs ("MCA") notifies
new standards or amendments to the
existing standards under Companies (Indian
Accounting Standards) Rules as issued from
time to time.

In May 2025, MCA notified amendments
to Ind AS 21 - The Effects of Changes in
Foreign Exchange Rates, applicable w.e.f.
April 1, 2025. The Company has reviewed
the amendment and based on its evaluation
has determined that it does not have any
significant impact in its financial statements.

In August 2025, MCA notified the following
amendments to:

1. Ind AS 1, Presentation of Financial
Statements, applicable w.e.f. April
1, 2025 - The amendment relates to
classification of liabilities as current or
non-current and non-current liabilities
with covenants. In the context of
classifying a liability as current, it
removes the requirement of existence
of a right to defer settlement for at
least 12 months after the reporting date
and instead requires that the said right
should exist on the reporting date and
have substance. The amendment also
introduces guidance on classification of
liabilities with covenants. The Company
has no impact of these amendments in
its classification criteria of current and
non-current liabilities.

2. Ind AS 7, Statement of Cash Flows
and Ind AS 107, Financial Instruments:

Disclosures, applicable w.e.f. April 1,
2025 - The amendment in Ind AS 7
requires to inform users of financial
statements of the existence of supplier
finance arrangements and explain
the nature of the arrangements, the
carrying amount of liabilities and the
range of payment due dates. Ind AS
107 has been amended to add supplier
finance arrangements as a factor that
may cause concentration of liquidity
risk. The Company has reviewed the
amendment and based on its evaluation
has determined that it has no impact in
its financial statements.

3. The Company has evaluated the
amendments to Ind AS 109 relating
to classification and measurement of
financial instruments and concluded that
the amendments do not have a material
impact on the financial statements,
except for enhanced assessment
and disclosure requirements where
applicable.

4. MCA has notified Ind AS 118, Presentation
and Disclosure in Financial Statements,
effective for annual reporting periods
beginning on or after 1 April 2027. The
standard introduces new presentation
requirements for the Statement of Profit

10.2. Terms/Rights attached to the equity shares

The Company has equity shares having a par value of Re. 1 per share. All equity shares rank equally with regard to
dividend and share in the Company's residual assets in proportion of amount paid up. The equity shares are entitled
to receive dividend as declared from time to time. Each holder of the equity shares is entitled to one vote per share.
On winding up of Company, the holder of equity shares will be entitled to receive the residual assets of Company,
remaining after distribution of all preferential amounts in proportion to number of equity shares held. Terms attached
to stock options granted to employees are described in note 28 regarding employee share based payments.

10.8. Issue of Shares Under Rights Issue:

During the year, the Company issued 69,99,85,723 Equity Shares of face value of ?1 each for cash at an issue price
of ?10 per Equity Share, including a share premium of ?9 per Equity Share, aggregating to ?6,999.86 million, to the
Eligible Shareholders on a rights basis in the ratio of 67 Rights Equity Shares for every 267 fully paid-up Equity
Shares held as on the Record Date, i.e. June 26, 2025.The amount payable on application was ?5 per Rights Equity
Share, representing 50% of the issue price, and the balance ?5 per Rights Equity Share was payable towards the final
call(s), as determined by the Board of Directors / Rights Issue Committee from time to time.

General reserve

General Reserve is created out of the profits earned by the Company by way of transfer from surplus in the Statement
of Profit and Loss as also on account of lapse of employee stock options. The Company can use this reserve for
payment of dividend and issue of fully paid-up bonus shares.

Securities premium

Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate
amount of the premium received on those shares shall be transferred to "Securities Premium". The Company may
issue fully paid-up bonus shares to its members out of the Securities Premium and the Company can use this
reserve for buy-back of shares

Employees Stock Options Outstanding

The share based option outstanding account is used to recognise the grant date fair value of options issued to
employees under group's employee stock option schemes

Retained earnings

Retained Earnings are profits that the Company has earned till date less dividend or other distribution or transaction
with shareholders.

The Company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax
assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied
by the same tax authority.

In assessing the realizability of deferred income tax assets, management considers whether some portion or all
of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is
dependent upon the generation of future taxable income during the periods in which the temporary differences
become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected
future taxable income, and tax planning strategies in making this assessment. Based on the level of historical taxable
income and projections for future taxable income over the periods in which the deferred income tax assets are
deductible, management believes that the Company will realize the benefits of those deductible differences. The
amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if
estimates of future taxable income during the carry forward period are reduced.

Note 25 : Disclosure pursuant to Employee benefits

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of
qualifying employees towards provident fund and employee state insurance, which is a defined contribution plan.
The Company has no obligations other than to make the specified contributions. The contribution is charged to
the Statement of profit and loss as they accrue. The amount recognised as an expense towards contribution to
provident fund and other funds for the year are as follows:

(a) Gratuity

The Company operates gratuity plan wherein every employee is entitled to the benefit as per scheme of the
Company, for each completed year of service. The same is payable on retirement or termination whichever is earlier.
The benefit vests only after five years of continuous service.

Risk Exposure :i. Investment risk

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer
may not be the fair value of instruments backing the liability. In such cases, the present value of the assets is
independent of the future discount rate. This can result in wide fluctuations in the net liability or the funded
status if there are significant changes in the discount rate during the inter-valuation period.

ii. Market Risk (Interest Rate)

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial
markets. The discount rate reflects the time value of money. An increase in discount rate leads to decrease
in Defined Benefit Obligation of the plan benefits & vice versa. This assumption depends on the yields on the
corporate/government bonds and hence the valuation of liability is exposed to fluctuations in the yields as at
the valuation date.

iii. Liquidity Risk

Employees with high salaries and long durations or those higher in hierarchy,accumulate significant level of
benefits.If some of such employees resign/retire from the company there can be strain on the cashflows.

iv. Actuarial Riska. Salary Increase Assumption

Actual Salary increases that are higher than the assumed salary escalation, will result in increase to the
Obligation at a rate that is higher than expected.

b. Attrition/Withdrawal Assumption

If actual withdrawal rates are higher than assumed withdrawal rates, the benefits will be paid earlier than
expected. Similarly if the actual withdrawal rates are lower than assumed, the benefits will be paid later
than expected. The impact of this will depend on the demography of the company and the financials
assumptions.

v. Regulatory Risk

Any Changes to the current Regulations by the Government, will increase (in most cases) or Decrease the
obligation which is not anticipated. Sometimes, the increase is many fold which will impact the financials quite
significantly.

Note 26 : Related Party disclosures.

As per the Indian Accounting Standard on "Related Party Disclosures" (IND AS 24), the related parties of the
Company are as follows :

Employee stock option (ESOP) scheme (2013-14):

The scheme has been adopted by the Board of Directors pursuant to resolution passed at its meeting held on
February 17, 2013, read with Special Resolution passed by shareholder of the company at the extra ordinary general
meeting held on March 30, 2013. The plan entitles senior employees to purchase shares in the Company at the
stipulated exercise price, subject to compliance with vesting conditions. All exercised options shall be settled in
demat mode. As per the plan, holders of vested options are entitled to purchase one equity share for every option
at an exercise price of Re 1 which is 93% to 98% below the market price at the date of grant.

Employee stock option (ESOP) scheme (2014-15)

The scheme has been adopted by the Board of Directors pursuant to resolution passed at its meeting held on
February 27, 2014, read with Special Resolution passed by shareholder of the company at the extra ordinary general
meeting held on March 31, 2014. The plan entitles senior employees to purchase shares in the Company at the
stipulated exercise price, subject to compliance with vesting conditions. All exercised options shall be settled in
demat mode. As per the plan, holders of vested options are entitled to purchase one equity share for every option
at an exercise price of Re 1 which is 93% to 98% below the market price at the date of grant.

Employee stock option (ESOP) scheme (2019-20)

The scheme has been adopted by the Board of Directors pursuant to resolution passed at its meeting held on June
29, 2019, read with Special Resolution passed by shareholder of the company at the extra ordinary general meeting
held on July 30, 2019. The plan entitles senior employees to purchase shares in the Company at the stipulated
exercise price, subject to compliance with vesting conditions. All exercised options shall be settled in demat mode.

Employee Stock Appreciation Rights (SAR)

Pursuant to the resolution passed by the Board of Directors of the Company, at its meeting held on July 13, 2017 and
the special resolution passed by the Members of the Company on August 11, 2017, the Infibeam Stock Appreciation
Rights Scheme 2017 ("SAR Scheme 2017") was approved in accordance with the provisions of SEBI (SBEB)
Regulations, having face value of ? 1.00 each. The Company has created "Infibeam Employees Welfare Fund" ("IEW
Trust") by way of a trust on September 5, 2017 which will be involved in the execution of Infibeam Stock Appreciation
Rights Scheme 2017 (SAR). Barclays Wealth Trustees (India) Private Limited (Barclays) are appointed as trustees
of the same. Each SAR shall confer the right to the eligible employee to receive appreciation (cash settled / equity
settled) with respect to the underlying Equity Share on the entitled shares after it has been exercised in accordance
with terms of the Scheme.

The company has formed 'Infibeam Employee Welfare Trust' (IEW trust) for implementation of the schemes that are
notified or may be notified from time to time by the Company under the plan, providing share based payment to its
employees. IEW trust purchases Company's shares out of funds provided by the Company. The Company treats
IEW as its extension and accordingly shares held by IEW are treated as treasury shares.

The Consolidation of the IEW trust financials statements with that of the Company does not in any manner affect the
independence of the trustees where the rights and obligations are regulated by the trust deed.

Other items adjusted owing to the Trust consolidation include :

(a) Treasury shares

Upon consolidation, the investment in the Parent Company's equity shares made by IEW Trust is debited to
the Group's equity as treasury shares amounting to Rs. 444.41 Millions as at March 31, 2026 (previous year:
Rs. 413.51 millions).

(b) Dividend Income

The dividend income of the Trust is debited to the Group's retained earning amounting to Nil as at March 31,
2026 (previous year: Rs 0.62 millions) (shown as deduction from dividend paid).

(c) Other Non Current Financial Assets and other income

Loan advanced to the Trust is eliminated on consolidation amounting to Rs. 452.85 millions as at March 31,
2026 (previous year: Rs. Rs. 420.75 millions) forming a part of current loans.

(d) Interest Expenses

Due to significant difference in the purchase price of the shares acquired and prevailing market price of
the share, the Group foresees inability of the IEW Trust to service its loan obligations and interest payment
temporarily. Accordingly the Group has reduced the interest on loan to zero.

Note 30: Segment reporting

During the year, the Company had transferred its Platform Business Undertaking on a going concern basis through
a slump sale to Rediff.com India Limited ("Rediff"), subsidiary of the Company (Refer note 42). Accordingly, the
Company now operates in a single business segment i.e. Payment Business which includes Payment Gateway
business with CC Avenue business brand and payment infrastructure including CPGS towards banks, and Credit &
Lending related business and therefore, no separate disclosure on primary segment information is given in these
standalone financials.

Geographical information:

Geographical segments for the Company are secondary segments. Segment revenue is analysed based on the
location of customers regardless of where the services are provided from. The following provides an analysis of
the Company's sales by Geographical Markets. For management purpose, the Company operates in three principal
geographical areas of the world, in India, in UAE and other countries.

Note 31: Lease
Company as Lessee

The Company's lease asset primarily consist of leases of office buildings and vehicles having the various lease
terms. Accordingly, the Company has adopted IND AS 116 "Leases" to all lease contracts.

Following is carrying value of right of use assets recognised and the movements thereof during the year ended
March 31, 2026 and March 31, 2025:

For leasehold builing , the Company had total cash out flows for leases of Rs.68.18 million in the current year (year
ended March 31, 2025 Rs 65.04 million). The entire amount is in the nature of fixed lease payments. The Company
had non-cash addition to right of use assets of Rs.116.70 million (year ended March 31,2025 Rs 119.19 million ) and
lease liabilities of Rs. 110.65 million in the current year (year ended March 31, 2025 Rs. 116.41 million) on account of
acquisition of right of use assets.

For Vehicles , the Company had total cash out flows for leases of Rs. 3.87 million in the current year (year ended
March 31, 2025 Rs 4.20 million). The entire amount is in the nature of fixed lease payments. The Company had non¬
cash addition to right of use assets of Rs 5.86 million (year ended March 31,2025 Nil ) and lease liabilities of Rs 5.82
million in the current year (year ended March 31, 2025 Nil) on account of acquisition of right of use assets.

The weighted average incremental borrowing rate applied to lease liabilities is 10.65%

The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are
sufficient to meet the obligations related to lease liabilities as and when they fall due.

Note 32 : Corporate Social Responsibility (CSR) Activities:

a. The Company is required to spend Rs. 36.25 millions (Previous Year Rs. 27.65 millions) on CSR activities.

b. Amount spent during the year on:

The management assessed that current investments,cash and cash equivalents, other bank balances, loans, trade
receivables, trade payables, other current financial assets and other current financial liabilities approximate their
carrying amounts largely due to the short-term maturities of these instruments.

* The management assessed that carrying value approximates to the fair value

Fair value hierarchy

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

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

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).
Level 1 - Valuation technique and significant observable inputs for assets and liabilities

Investments represents investment in quoted equity instruments. The fair value of investment is derived based on
the closing market rate as per stock exchange.

Reconciliation of Level 1 fair values

The following table shows a reconciliation from the opening balances to the closing balances for Level 1 fair values.

Level 2 - Valuation technique and significant observable inputs for assets and liabilities

The fair values of the unquoted non-current investment have been estimated using a DCF model. The valuation
requires management to make certain assumptions about the model inputs, including forecast cash flows and
discount rate. The probabilities of the various estimates within the range can be reasonably assessed and are used
in management's estimate of fair value for these unquoted investments.

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

The cost of unquoted investments included in Level 3 of fair value hierarchy approximate their fair value because
there is a wide range of possible fair value measurements and the cost represents estimate of fair value within that
range. For other assets and liabilities categorised under level 3, a one percentage point change in the unobservable
inputs used in fair valuation does not have a significant impact in its value.

B. Financial risk management

The Company has exposure to the following risks arising from financial instruments:

Ý Credit risk;

Ý Liquidity risk; and

Ý Market risk

i. Risk management framework

The Company's board of directors has overall responsibility for the establishment and oversight of
the Company's risk management framework. The Company manages market risk through a treasury
operations, which evaluates and exercises independent control over the entire process of market risk
management. The Finance team recommends risk management objectives and policies. The activities of
this operations include management of cash resources, borrowing strategies, and ensuring compliance
with market risk limits and policies.

The Company's risk management policies are established to identify and analyse the risks faced by the
Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk
management policies and systems are reviewed regularly to reflect changes in market conditions and
the Company's activities. The Company, through its training and management standards and procedures,
aims to maintain a disciplined and constructive control environment in which all employees understand
their roles and obligations.

The audit committee oversees how management monitors compliance with the company's risk
management policies and procedures, and reviews the adequacy of the risk management framework in
relation to the risks faced by the Company.

ii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial
instrument fails to meet its contractual obligations, and arises principally from the Company's receivables
from customers and investments in debt securities. The carrying amount of following financial assets
represents the maximum credit exposure.

Financial Instruments and Cash Deposits

The credit risk from balances/deposits with Banks, current investments and other financial assets are managed
in accordance with company's policy. Investment of surplus funds are primarily made in Liquid/Short Term
Plan of Mutual Funds and in Bank Deposits which carry a high external rating.

Trade receivables

Trade receivables of the company are typically unsecured. Credit risk is managed through credit approvals and
periodic monitoring of the creditworthiness of customers to which company grants credit terms in the normal
course of business. The allowance for impairment of Trade receivables is created to the extent and as and
when required, based upon the expected collectability of accounts receivables.

The maximum exposure to credit risk for trade receivables by geographic region was as follows:

The above receivables which are past due but not impaired are assessed on individual case to case basis and
relate to a number of independent third party customers from whom there is no recent history of default. These
financial assets were not impaired as there had not been a significant change in credit quality and the amounts
were still considered recoverable based on the nature of the activity of the customer portfolio to which they
belong and the type of customers. There are no other classes of financial assets that are past due but not
impaired except for Trade receivables as at March 31, 2026 and March 31, 2025.

iii. Liquidity risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral
obligations without incurring unacceptable losses. The Company's objective is to, at all times maintain optimum
levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity
position and deploys a robust cash management system.

The table below summarises the maturity profile of the Company's financial liabilities based on contractual
undiscounted payments:

(a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Financial instruments affected by market risk include loans and borrowings,
deposits.

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 transacts business in local currency and in foreign currency,
primarily in USD, AED, SAR, OMR. The Company has foreign currency trade payables and receivables and is,
therefore, exposed to foreign exchange risk. The Company does not use any derivative instruments to hedge
its risks associated with foreign currency fluctuations.

Foreign currency sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD, AED, SAR and
OMR rates to the functional currency of the Company, with all other variables held constant. The Company's
exposure to foreign currency changes for all other currencies is not material. The impact on the Company's
profit before tax is due to changes in the fair value of monetary assets and liabilities.

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. The Company's exposure to the risk of changes in market interest
rates relates primarily to the Company's long-term debt obligations with floating interest rates.

The Company manages its interest rate risk by having a balanced portfolio of fixed plus variable rate borrowings.

Equity price risk management

The Company's exposure to equity price risk arises from investment held by the Company and classified
as FVTPL & FVTOCI. In general, these investments are strategic investments and are not held for trading
purposes. Reports on the equity portfolio are submitted to the Company's senior management on a regular
basis.

Equity price sensitivity analysis

If prices of quoted equity securities had been 5% higher / (lower), the effect on Profit before tax for the
year ended March 31, 2026 and 2025 would increase / (decrease) by Rs 8.96 million and Rs 18.59 million
respectively.

Note 34 : Capital management

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity
reserves attributable to the equity holders of the Company. The primary objective of the Company's capital
management is to ensure that it maintains an efficient capital structure in order to support its business and maximise
shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions
or its business requirements. To maintain or adjust the capital structure, the Company may adjust the dividend
payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a
gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest
bearing loans and borrowings less cash and short-term deposits (including other bank balance).

Note 35 : Dues to micro, small and medium suppliers

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26, 2008
which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers
the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the 'Micro,
Small and Medium Enterprises Development Act, 2006' ('the MSMED Act') accordingly, the disclosure in respect of
the amounts payable to such enterprises as at March 31, 2026 and March 31, 2025 has been made in the financial
statements based on information received and available with the Company. Further in view of the Management,
the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to
be material. The Company has not received any claim for interest from any supplier as at the balance-sheet date.

On basis of information and records available with the Company, the above disclosures are made in respect of
amount due to the micro, small and medium enterprises, which have been registered with the relevant competent
authorities. The above information takes into account only those suppliers who have submitted their registration
details or has responded to the inquiries made by the Company for this purpose.

Note 36 : Additional Regulatory Information

A There are no proceedings that have been initiated or pending against the Company for holding any benami
property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time)
(earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

B The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

C The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act

read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies beyond the
specified layers.

D Utilisation of Borrowed funds and share premium;

The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities ("Intermediaries")
with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding
Party") with the understanding (whether recorded in writing or otherwise) that the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or
on behalf of the Funding Party (Ultimate Beneficiaries); or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

E Undisclosed Income : The Company do not have any transaction not recorded in the books of accounts that
has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax
Act, 1961 (such as, search or survey or any other relevant provisions of the Income-tax Act, 1961). Further,
there was no previously unrecorded income and no additional assets were required to be recorded in the
books of account during the year.

F Details of Crypto Currency or Virtual Currency : The Company has neither traded nor invested in Crypto
currency or Virtual Currency during the financial year ended March 31, 2026 & year ended March 31, 2025.
Further, the Company has also not received any deposits or advances from any person for the purpose of
trading or investing in Crypto Currency or Virtual Currency.

G Details of Relationship with Struck off Companies

J Disclosures pursuant to regulation 34 (3) of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) regulations, 2015 and section 186 of the Companies Act, 2013

i) Investment in Non convertible Debentures - Unquoted (note 7(C))

The Company has invested its surplus funds in Non-Convertible Debentures ("NCDs") issued by unrelated
corporates. The NCDs are redeemable within one year or on such other date as may be specified in the
respective terms of issue and carry coupon rates ranging from 8.00 % to 9.50% per annum. Maximum
balance outstanding during the year is Rs 2,750 Million (Previous year : Nil)

ii) Loan to related parties (note 7)

The Company has provided loans to subsidiary companies and KMP's which are repayable on demand
on mutually agreed terms. The amount outstanding as at March 31, 2026 is Rs 473.06 million (March
31, 2025 : Rs 2394.36 million). The maximum balance outstanding during the year is Rs 6,423.29 million
(Previous year : Rs 3,404.01 million)

Note 37 : Escrow balance

The Company maintains escrow account with ICICI Bank and HDFC Bank. The escrow accounts are operated as
per RBI guidelines pertaining to settlement of payment for electronic payment transactions for payment gateway
business. The balance in the escrow accounts represents money collected from customers on transaction undertaken
and is used for settling of dues to various merchants as per RBI guidelines.

Receivable for settlement of transactions:

The balance in receivable for settlement of transaction represents the amount pending to be received from pooling
bank account and payment gateway for successful online transaction completed by the customer of the merchant
into the escrow accounts. These amounts once collected in escrow account will be utilized for payment to the
merchants.

Payable for settlement of transactions:

The balance in payable for settlement of transaction represents the amount pending to be paid to merchant for
successful online transaction completed by the customer of the merchant. The amount for the escrow accounts
are transferred to the merchant designated bank account as per RBI guidelines, after deducting applicable charges.

38. The Company's transactions with associated enterprises are at arm's length. Management believes that
company's domestic transactions with associated enterprises post March 31, 2026 continue to be at arm's
length and that the transfer pricing legislation will not have any impact on the financial statements particularly
on the amount of the tax expense for the year and the amount of the provision for the taxation at the period
end.

AI enabled Digital Payments and Checkout Web Services

It comprises revenue from providing complete, simple and secure AI enabled online payment gateway and
checkout web services, with a real-time Credit Card, Debit Card, Net Banking, Digital and Mobile Wallet
including UPI Payments, Recharge, Cash Card and Mobile Payment transaction validation process, payment
infrastructure and platforms including CPGS towards banks, and Credit & Lending related business. This
enables eCommerce websites to sell products and services online, and accept payments in real time.

ii) Refer note 30 for disaggregation of revenue by geographical segments

iii) The Company believes that this disaggregation best depicts how the nature, amount, timing of its
revenues and cash flows are affected by industry, market and other economic factors.

b) Transaction price allocated to remaining performance obligation

The aggregate value of performance obligations that are completely or partially unsatisfied as of March
31, 2026 is Rs. 0.31 million (March 31, 2025 is Rs. 12.69 million) which is expected to be recognize as
revenue within the next one or more than one year. Remaining performance obligation estimates are
subject to change and are affected by several factors, including changes in the scope of contracts,
periodic revalidations, and adjustments for currency.

*Note : The change in certain ratios compared with the previous year is primarily attributable to the sale/transfer of
the Platform business undertaking to the subsidiary company with effect from September 30,2025. The ratios for
the current year and previous year are therefore not directly comparable in respect of the impact arising from the
sale of platform business undertaking.

42. Transfer of Platform Business Under a Business Transfer Agreement [Discontinued Business]

During the year, the Company had transferred its Platform Business Undertaking on a going concern basis
through a slump sale to Rediff.com India Limited ("Rediff"), subsidiary of the Company by entering into a
Business Transfer Agreement (BTA) with Rediff for the transfer of its enterprise e-commerce software platform
buildaBazaar (E2E Platform) business which constitutes a common control business combination as defined
under Appendix C to Ind AS 103. The transfer was undertaken to unlock value, streamline business operations
and enable sharper focus and enhance operational control. The transfer became effective from September 30,
2025(Closing date).

In accordance with the Business Transfer Agreement ("BTA") entered into by the Company, the Platform
business undertaking was transferred by way of slump sale on September 30, 2025. The transaction has
been accounted for in accordance with the applicable requirements of Ind AS 103, "Business Combinations",
considering the Platform business undertaking as a business.

Accordingly, the accounting treatment in respect of the transfer of the Platform business undertaking is as
follows:

* All the assets and liabilities pertaining to the Platform business undertaking as at September 30, 2025 were
transferred from the books of account of the Company in accordance with the terms of the BTA and the
applicable accounting requirements.

* The results of the Platform business undertaking have been presented separately as discontinued operations
in accordance with Ind AS 105, "Non-current Assets Held for Sale and Discontinued Operations".

* The comparative figures for the year ended March 31, 2025 have been restated to present the results of the
Platform business undertaking separately from the Company's continuing operations, as required under Ind AS
105.