In accordance with the Memorandum of Understanding dated 9th January, 2008 entered into between the Company and
Banks, 1,79,520 equity shares of Competent Automobiles Ltd of ' 10/- each, belonging to the Banks will be sold /
transferred by the Company as per the advice of the banks. Until such time, the Company will hold the shares on behalf of
the Banks in its DEMAT Account. Therefore, the amount of dividend received on such shares on behalf of the Banks has
been classified and disclosed under “Other Financial Liabilities (Current).

Note 31 : Capital Management

The Company’s objectives when managing capital is to safeguard their ability to continue as a going concern, so that they
can continue to provide returns for shareholders and benefits for other stakeholders. The capital of the Company consists
of equity capital, and borrowings.

Fair value hierarchy

The following section explains the judgments and estimates made in determining the fair values of the financial instruments
that are recognized and measured at fair value through profit or loss. To provide an indication about the reliability of the
inputs used in determining fair value, the Company has classified its financial investments into the three levels prescribed
under the accounting standard. An explanation of each level follows underneath the table.

Notes:

Level 1 hierarchy includes financial instruments measured using quoted prices (unadjusted) in active market for
identical assets that the entity can access at the measurement date.

Level 2 hierarchy includes the fair value of financial instruments measured using quoted prices for identical or
similar assets in markets that are not active.

Level 3 if one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3. This is the case for unlisted compound instruments.

There are no transfers between any of these levels during the year. The Company’s policy is to recognize transfers
into and transfers out of fair value hierarchy levels as at the end of the reporting period.

C. Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include:

(i) The use of quoted market prices or mutual fund houses quotes (NAV) for such instruments. This is included in
Level 1

D. Fair value of financial assets and liabilities measured at amortized cost

The carrying amounts of loans, trade receivables, cash and cash equivalents, other bank balances, other financial
assets and trade payables are considered to be the same as their fair values, due to their short-term nature.

Note 33 : Financial risk management

The Company’s risk management policies are established to identify and analyses 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.
The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc
reviews of risk management controls and procedures, the results of which are reported to the audit committee.

(a) Credit risk

Cash and Cash Equivalents

Credit risk on cash and cash equivalents and other deposits with banks is limited as the Company generally invests in
deposits with banks with high credit ratings assigned by external credit rating agencies; accordingly, the Company
considers that the related credit risk is low. Impairment on these items is measured on the 12-month expected credit
loss basis.

(b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its
financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to
managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are
due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the
Company’s reputation.

The Company’s treasury maintains flexibility in funding by maintaining liquidity through investments in liquid funds
and other committed credit lines. Management monitors rolling forecasts of the group’s liquidity position (comprising
the undrawn borrowing facilities below) and cash and cash equivalents on the basis of expected cash flows

Liquidity Table

The Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment
periods is given below. The tables have been drawn up based on the undiscounted cash flows of financial liabilities
based on the earliest date on which the Company can be required to pay. The tables include both interest and
principal cash flows. The contractual maturity is based on the earliest date on which the Company may be required to
pay.

Note 34 : Relationship with struck off companies

The company does not have transactions with companies struck off under section 248 of the companies act, 2013 or
section 560 of the companies act, 1956 other than disclosed in note 7 “Investment” of the financial statements

Note 1: During the current financial year, the maturity profile of the fixed deposits with banks has undergone change and
significant portion is now classified under "Other Non-Current Financial Assets " in comparison to fixed deposits
classified under the head "Current Assets" in the previous year resulting into variation in current ratio.

Note 2: The company has negative shareholder's equity, therefore determiation of these ratios do not render meaningful
results and accordingly not disclosed.

Note 3: In view of footnote disclosed at Note 16 "Borrowings (Non- Current)", the Company does not have any obligation
to repay the debt and accordingly ratio is not applicable.

Note 4: The company does not have any operational activity generating any revenue from operations and hence these
ratios are not applicable.

Notes to the Financial Statements

Note 5: Significant decrease in other income (miscellenous income) during the current financial year resulting into
significant variation in the ratio.

Note 6: As the company do not have any significant income generated from the investments, the ratio is not disclosed.

(*) Ratios have been reworked or recomputed wherever necessary and accordingly disclosed.

Note 36 : Details of Benami Property held

The company does not hold any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of
1988) and the rules made thereunder. No proceeding has been initiated or pending against the company for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

Note 37 : Compliance with approved scheme of arrangements

Company does not have any scheme of arrangement in terms of sections 230 to 237 of the companies act, 2013.

Note 38 : Revaluation of Property, Plant and Equipment and Intangible Assets
The Company has not done revaluation of PPE / Intangible assets.

Note 39 : Utilisation of Borrowed funds and share premium:

(a) During the year, no funds have been advanced or loaned or invested funds (either borrowed funds or share premium
or any other sources or kind of funds) by the company to any other persons or entities, including foreign entities with
the understanding whether recorded in writing or otherwise that the Intermediary shall 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 to or on behalf of the Ultimate Beneficiaries.

(b) During the year, the company has not received any fund from any persons or entities, including foreign entities
(Funding Parties) with the understanding whether recorded in writing or otherwise that the company shall 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Note 40: Undisclosed Income

The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (Such as,
search or survey or any other relevant provisions of the Income Tax Act, 1961).

Note 41: Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in crypto currency or virtual currency during the financial year.

Note 42 : Registration of Charges or Satisfaction with Registrar of Companies

The company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory
period.

Note 43 : Compliance with number of Layers of companies

The Company does not have any holding or subsidiary company, hence the compliance with number of layers of
companies under clause (87) of section 2 is not applicable to the company.

The company has received confirmation from suppliers who have registered themselves under the Micro, Small and
Medium Enterprises Development Act, 2006 (MSMED Act, 2006). The above mentioned information has been
compiled to the extent of responses received by the company from its suppliers with regard to their registration under
Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006).

Note 45 : Statement of Management

(a) The non-current financial assets, current financial assets and other current assets are good and recoverable and are
approximately of the values, if realized in the ordinary courses of business unless and to the extent stated otherwise
in the Accounts. Provision for all known liabilities is adequate and not in excess of amount reasonably necessary.
There are no contingent liabilities except those stated in the notes.

(b) Balance Sheet, Statement of Profit and Loss, cash flow statement and change in equity read together with Notes to
the accounts thereon, are drawn up so as to disclose the information required under the Companies Act, 2013 as well
as give a true and fair view of the statement of affairs of the Company as at the end of the year and financial
performance of the Company for the year under review.

Note 46:

The figures for the previous year have been regrouped / reclassified, wherever necessary, to make them comparable with

the figures for the current year. Figures are rounded off to nearest lakhs.

As per our report of even date FOR AND ON BEHALF OF THE BOARD

FOR G. K. CHOKSI & CO. ANIMESH MEHTA SAURABH MASHRUWALA

[Firm Registration No. 101895W] Chairperson Director

Chartered Accountants DIN: 09122533 DIN:01786490

ROHIT K. CHOKSI

Partner ANIL JHAVERI JANAK MEHTA MEERA GUDKA

Mem. No. 31103 Chief Executive Officer Chief Financial Officer Company Secretary

Place : Ahmedabad Place : Ahmedabad

Date : 6 May, 2025 Date : 6 May, 2025