3.14 Provisions and contingencies
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. If the effect of the time
value of money is material, provisions are discounted using equivalent period
government securities interest rate. Unwinding of the discount is recognised in the
Statement of Profit and Loss as a finance cost. Provisions are reviewed at each
balance sheet date and are adjusted to reflect the current best estimate.

Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising
from past events, the existence of which will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within the
control of the Company or a present obligation that arises from past events where
it is either not probable that an outflow of resources will be required to settle or a
reliable estimate of the amount cannot be made. Information on contingent liability
is disclosed in the Notes to the Financial Statements. Contingent assets are not
recognised. However, when the realisation of income is virtually certain, then the
related asset is no longer a contingent asset, but it is recognised as an asset.

3.15 Cash Flow Statement

Cash flows are reported using indirect method, whereby net profits before tax is
adjusted for the effects of transactions of a non-cash nature and any deferrals
or accruals of past or future cash receipts or payments and items of income or
expenses associated with investing or financing cash flows. The cash flows from
regular revenue generating (operating activities), investing and financing activities
of the Company are segregated.

3.16 Recent accounting development
Standards issued but not yet effective:

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. For the year ended 31^st March, 2026, MCA has not
notified any new standards or amendments to the existing standards applicable to
the Company.

3.17 Current /non-current classification

The Company presents assets and liabilities in statement of financial position
based on current/non-current classification.

The Company has presented non-current assets and current assets before equity,
non-current liabilities and current liabilities in accordance with Schedule III, Division
II of Companies Act, 2013 notified by MCA.

An asset is classified as current when it is:

a) Expected to be realised or intended to be sold or consumed in normal
operating cycle,

b) Held primarily for the purpose of trading,

c) Expected to be realised within twelve months after the reporting period, or

d) Cash or cash equivalent unless restricted from being exchanged or
used to settle a liability for at least twelve months after the reporting
period.

All other assets are classified as non-current.

A liability is classified as current when:

a) It is expected to be settled in normal operating cycle,

b) It is held primarily for the purpose of trading,

c) It is due to be settled within twelve months after the reporting period, or

d) There is no unconditional right to defer the settlement of the liability for at
least twelve months after the reporting period.

All other liabilities are classified as non-current.

The operating cycle is the time between the acquisition of assets for processing
and their realisation in cash or cash equivalents.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

4. Critical accounting estimates, assumptions and judgements

In the process of applying the Company's accounting policies, management has made
the following estimates,assumptions and judgements, which have significant effect on the
amounts recognised in the financial statement:

(a) Income taxes

Management judgment is required for the calculation of provision for income taxes
and deferred tax assets and liabilities. The Company reviews at each balance sheet
date the carrying amount of deferred tax assets. The factors used in estimates
may differ from actual outcome which could lead to significant adjustment to the
amounts reported in the financial statements.

(b) Contingencies

Management judgement is required for estimating the possible outflow of
resources, if any, in respect of contingencies/claim/litigations against the Company
as it is not possible to predict the outcome of pending matters with accuracy.

(c) Allowance for uncollected accounts receivable and advances

Trade receivables do not carry any interest and are stated at their normal value
as reduced by appropriate allowances for estimated irrecoverable amounts.
Individual trade receivables are written off when management deems them not to
be collectible.

Impairment is made on the expected credit losses, which are the present value of
the cash shortfall over the expected life of the financial assets.

*During the financial year 2024-25 the company on 17th April, 2024 consequent to
the requisite approvals and on receipt of 25% upfront payment issued convertible
warrants on the following terms:

(i) 2000000 Convertible Warrants (“Warrant A”) at an issue price of Rs. 65.25/-

aggregating to Rs. 1305.00 Lakhs were allotted on Preferential basis to the
Promoter Category of the Company giving an option to apply for and be allotted
1 (one) Equity Share of Rs. 10/- of the Company against each warrant, any
time within a period of 12 (twelve months) from the date of allotment of such
warrants.

Thereafter, the option for allotment was exercised by holders of Warrant A and
on payment of the balance 75% amount, 2000000 Equity Shares of face value
of Rs.10/- each were allotted on 27th March 2025.
ii) 1500000 Convertible Warrants (“Warrant B”) at an issue price of Rs. 65.25/-
aggregating to Rs. 978.75 Lakhs were allotted on Preferential basis to the Non¬
Promoter Category giving an option to apply for and be allotted 1 (one) Equity
Share of Rs. 10/- of the Company against each warrant, any time within a period
of 18 (eighteen months) from the date of allotment of such warrants.

During the financial year 2025-26, the option for allottment was exercised by
holders of Warrant B and on payment of the balance i.e. 75% amount, 1500000
Equity Shares of face value of Rs. 10 each were allotted (750000 Equity Shares
allotted on July 15, 2025 and 750000 Equity Shares allotted on October 14,
2025).

19.2 Terms / rights attached to the Equity Shares

Issued Share capital of the Company has only one class of shares referred to as
equity shares having Par value of Rs.10/-. Each holder of Equity Shares is entitled to
One vote per share. In the event of the Liquidation of the company,the holder of equity
shares will be entitled to receive any of the remaining assets of the company,after
distribution of all Preferential amounts.The distribution will be in proportion to the
number of equity shares held by the shareholders. The dividend proposed by the
board of directors is subject to the approval of the sharehlders in the ensuing Annual
General Meeting except in case of interim dividend.

19.5 Dividend

Final dividend distribution to shareholder is recognised as a liability in the period
in which dividend is approved by the shareholders. Any interim dividend paid is
recognised on approval by board of directors. Dividend payable is recognised directly
in equity.

Companies are required to pay/ distribute dividend after deducting applicable
taxes. The remittance of dividend outside India is governed by indian law on foreign
exchange and is also subject to withholding tax at applicable rates.

Capital Redemption Reserve

Capital Redemption reserve represents the statutory reserve created when capital is
redeemed.

Securities Premium

Securities premium represents amount received in excess of face value of the equity
shares. The Securities premium can be applied by the company for limited purposes such
as issuance of bonus shares, buy back of shares etc. in accordance with the provisions of
Section 52 of the Companies Act, 2013.

Business Reorganization Reserve

The reserve was created pursuant to scheme of arrangement.

General Reserve

General Reserve represents the statutory reserve, in accordance with indian Corporate
law wherein a portion of profit is apportioned to general reserve. Under Companies
Act, 1956 it was mandatory to transfer amount before a company can declare dividend.
However, under Companies Act, 2013 transfer of any amount to General Reserve is at the
discretion of the Company.

Statutory Reserve

In the past years Statutory Reserve created by M/s Pisces Portfolio Private Limited
and appearing in its books was transferred to the Company on its amalgamation with
the Company. The said Statutory Reserve being no longer required to be maintained the
amount of Rs. 12.59 Crores lying therein has been transferred to retained earnings in
previous year.

Equity Component of Compound financial instruments

The company has taken interest free inter corporate loan and interest free loan from
director. The same has been presented as compound financial instrument i.e. present
value of principle amount is presesented as financial liablitity in Non Current Borrowing in
note no. 21 and the difference between transaction value and its fair value is recognised
as equity component of compound financial instruments in other equity in previous year.
Retained Earnings

Retained earnings or accumulated surplus represents total of all profits retained since
Company's inception. Retained earnings are credited with current year profits, reduced
by losses, if any, dividend payouts, transfers to General reserve or any such other
appropriations to specific reserves. Debit balance in retained earnings represents balance
of accumulated losses.

Other Comprehensive Income

Remeasurement gain/ (losses) on defined benefit plan

The Company recognises change on account of remeasurement of the net defined benefit
liability/(asset) as part of other comprehensive income.

Term Loan - (1) For Loan amount of Rs 64.80 Crore, the Rate of Interest is
1.45% over and above Bank's one year MCLR (upto 27.02.2024) and 9.25%
p.a. fixed (upto 28.02.2026) and 2.75% over and above Repo Rate and (2)
For loan amount of Rs. 104.33 Crore the Rate of Interest for first five years
was 5.66% (upto 26.12.21), 3.89% (from 27.12.21 to 11.03.25) over and above
Bank's Overnight MIBOR. With effect from 11.03.2025, the rate get fixed at 9%
till 28.02.2026 and thereafter the rate will be 2.75% over and above Bank's
Repo Rate.

As per the sanction, the term loan was repayable in quarterly installments
commencing from May 2020 and ending in August 2033. However,
In terms of RBI notification number - RBI/2019-20/186 (DOR No.BP.
BC.47/21.04.048/2019-20) dated 27th, March 2020 and RBI/2019-20/244
(DOR.No.BP.BC.71/21.04.048/2019-20) dated 23rd May 2020, the Company
had applied to the Bank for a moratorium on repayment of loan, based on which
the tenure of the loan moved ahead by 6 months. Accordingly, the quarterly loan
repayments started from November 2020 and the last installment will be due in
February 2034.

(i) (b) Working Capital Term Loan From Indusind Bank (GECL-2.0)

Secured by way of second charge over all the existing primary & collateral
securities including mortages created in favour of the Indusind bank.

Working Capital Term Loan of Rs. 35.34 Cr. sanctioned under ECLGS of
NCGTC. The Rate of Interest is linked to one of the external benchmark lending
rate prescribed by RBI (for MSMEs)/ marginal cost of lending rate (or non
MSMEs) 1% but subject to a cap of 9.25% per annum.

As per the sanction, the working capital term loan was repayble in 48 equal
instalments starting from January 2022 and the last installment was due in
December 2025 which has been paid off.

(i) (c) Working Capital Term Loan From Indusind Bank (GECL-3.0)

Secured by way of second charge over all the existing primary & collateral
securities including mortages created in favour of the Indusind bank.

As per the sanction, the working capital term loan is repayble in 48 equal
instalments starting from September 2023 and the last installment will be due in
August 2027.

Unsecured

(i) Working Capital Term Loan (GECL-2.0) from State Bank of India

The Rate of Interest is 1% above 6 months MCLR but subject to a cap of 9.25% per
annum. As per the sanction, the working capital term loan is repayble in 48 equal
instalments starting from March '2022 and the last installment was due in January
2026, but it has been squared off by making prepayments in June 2025.

(ii) Working Capital Term Loan (GECL-3.0) from State Bank of India

The Rate of Interest is 1% above EBLR but subject to a cap of 9.25% per annum. As
per the sanction, the working capital term loan is repayble in 48 equal instalments
starting from June 2023 and the last installment was due in April 2027, but it has been
squared off by making prepayment in June 2025.

(iii) Debt Component of compounded financial instruments

The Loans are repayable after 3 years starting from date of agreement i.e. 01.04.2022
and carries interest @ 10% p.a.. During the Year company has repaid the entire
loan.

(iv) Preference Shares carries 9% coupon rate of dividend (Non-Cumulative).The holders
of Preference Shares shall not be entitled to receive notice of or to attend and vote
at General meetings of the Equity Shareholders of the Company .The holders of
Preference Shares shall be entitled to attend meetings and vote (one vote per
share) only on the Resolutions directly affecting their rights. Also the Preference
Shareholders shall not be entitled to any bonus or right issue etc. of Equity Shares
or other Securities of the Company.The Preference Shares shall carry a preferential
right over the Equity Shares of the Company as regards to payment of Dividend and
as regards to repayment of the Capital in the event of winding up of the Company.

37. FINANCIAL RISK MANAGEMENT
FINANCIAL RISK FACTORS

The Company's principal financial liabilities, comprise borrowings, trade and other
payables. The main purpose of these financial liabilities is to manage finances for the
Company's operations. The Company has short term trade receivable and bank deposits
which are under lien with banks for availing credit facilities. The Company's activities
expose it to a variety of financial risks:

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 risk. Financial instruments affected by market risk include
loans and borrowings, deposits and investments. Foreign currency risk is the risk that
the fair value or future cash flows of a financial instrument will fluctuate because of
changes in foreign exchange rates. 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. This is based on the financial assets and financial liabilities held as of
March 31, 2025 and March 31,2026.

ii) Credit risk

Credit risk is the risk that a counter party will not meet its obligations under a financial
instrument or customer contract, leading to a financial loss.

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 overall risk management programme focuses on the unpredictability
of financial markets and seeks to minimise potential adverse effects on the
Company's financial performance.

Market Risk

The sensitivity analysis excludes the impact of movements in market variables on the
carrying value of post-employment benefit obligations provisions and on the non-financial
assets and liabilities. The sensitivity of the relevant Statement of Profit and Loss item is
the effect of the assumed changes in the respective market risks. The Company's activities
expose it to a variety of financial risks, including the effects of changes in foreign currency
exchange rates and interest rates. However, such effect is not material.

(a) Foreign exchange risk and sensitivity

The Company transacts business primarily in Indian Rupee. However, the Company
has transactions in USD, Euro, GBP and others. The Company has negligible foreign
currency trade payables and is therefore, foreign exchange risk, is not material.
There are no other foreign currency monetary items, so the company does not face
any foreign exchange risk.

(b) INTEREST RATE RISK AND SENSITIVITY

The Company's exposure to the risk of changes in market interest rates relates
primarily to long term debt. All borrowings are at floating rate. Borrowing issued at
variable rate expose the company to cash flow interest rate risk. Weighted average
cost of borrowing is 8.97% for the year ended 31st March,2026 (9.80% for the
year ended 31st March,2025). With all other variable held constants the following
table demonstrate the impact of borrowing cost on floating rate portion of loans and
borrowing:

CREDIT RISK

The Company is not significantly exposed to credit risk from its operating activities
(primarily trade receivables) and from its financing activities, including deposits with banks
which are under lien with banks for availing credit facilities.

Trade Receivables

The Company extends credit to corporate customers in normal course of business. The
Company considers factors such as credit track record in the market and past dealings for
extension of credit to customers. The Company monitors the payment track record of the
customers. Outstanding customer receivables are regularly monitored. However, average
credit period to customers is approximately fourteen days. The company does not allow
any credit period in respect of Walk-in Customers and is therefore not exposed to at any
credit risk.

Liquidity risk

The Company's objective is to maintain optimum levels of liquidity to meet its cash and
collateral requirements. In case of temporary short fall in liquidity to repay the bank
borrowing/operational short fall, promoters envisage to infuse capital and loans.

The table below provides undiscounted cash flows towards non-derivative financial
liabilities into relevant maturity based on the remaining period at the balance sheet to the
contractual maturity date.

CAPITAL RISK MANAGEMENT

The Company aim to manage its capital efficiently so as to safeguard its ability to continue
as a going concern and to optimise returns to shareholders.

The capital structure of the Company is based on management's judgement of the appro¬
priate balance of key elements in order to meet its strategic and day-to-day needs. The
Company's primary objective when managing capital is to ensure the amount of capital in
proportion to risk and manage the capital structure in light of changes in economic condi¬
tions and the risk characteristics of the underlying assets. In order to maintain or adjust the
capital structure, the Company may adjust the amount of dividends paid to shareholders,
return capital to shareholders or issue new shares.

The Company's policy is to maintain a stable and strong capital structure with a focus
on total equity so as to maintain investor, creditors and market confidence and to sustain
future development and growth of its business. The Company will take appropriate steps in
order to maintain, or if necessary adjust, its capital structure.

The Company monitors capital using a gearing ratio, which is net debt divided by total
capital. Net debt is calculated as loans and borrowings less cash and cash equivalents.

FAIR VALUE HIERARCHY

The Company measures financial instruments at fair value in accordance with the
accounting policies mentioned above. Fair value is the price that would be received to sell
an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:

Fair values are categorised into different levels in a fair value hierarchy based on the inputs
used in the valuation techniques as follows:

• Level 1: Quoted prices/NAV for identical instruments in an active market;

• Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and

• Level 3: Inputs which are not based on observable market data.

When measuring the fair value of an asset or a liability, the Company uses observable
market data as far as possible. If the inputs used to measure the fair value of an asset or a
liability fall into different levels of the fair value hierarchy, then the fair value measurement
is categorised in its entirety in the same level of the fair value hierarchy as the lowest level
input that is significant to the entire measurement. The Company recognises transfers
between levels of the fair value hierarchy at the end of the reporting period during which
the change has occurred.

Other Comprehensive Income presentation of defined benefit plan

- Gratuity is defined benefit plan, Re-measurement gains/(losses) on defined
benefit plans is shown under Other Comprehensive Incomeas Items that will
not be reclassified to profit or loss and also the income tax effect on the same.

- Leave encashment cost is in the nature of short term employee benefits.
Presentation in Statement of Profit and Loss and Balance Sheet

Expense for service cost, net interest on net defined benefit liability (asset) is charged
to Statement of Profit & Loss.

IND AS 19 do not require segregation of provision in current and non-current,
however net defined liability (Assets) is shown as current and non-current provision
in balance sheet as per IND AS 1.

Actuarial liability for short term benefits (leave encashment cost) is shown as current
and non-current provision in balance sheet.

The Company assesses these assumptions with its projected long-term plans of
growth and prevalent industry standards. The mortality rates used are as published
by one of the leading life insurance companies in India.

The Government of India vide notification dated 21st November, 2025 had notified
the implementation framework in respect of the Code on Wages, 2019, the Industrial
Relations Code, 2020, the Code on Social Security, 2020, and the Occupational
Safety, Health and Working Conditions Code, 2020, which consolidate and replace
29 (twenty-nine) existing labour laws. The Ministry of Labour and Employment had
also published draft Central Rules and FAQs to facilitate the assessment of the
financial impact arising from New Labour Codes. The said central rules have been
made effective w.e.f. 08th May, 2026.

Based on the assessment carried out by the Company and on the basis of information
presently available, in line with the guidance issued by the Institute of Chartered
Accountants of India, the incremental impact of the aforesaid changes on employee
benefits liability has been recognised in the financial results for the quarter and year
ended 31st March, 2026. The company has recognised provision of Rs. 36.24 Lakhs
towards gratuity/leave encashment under Employee Benefit Expenses in the Profit &
loss account.

The Company will continue to monitor further developments relating to the Labour
Codes and evaluate the impact, if any, in future on the measurement of employee
benefits liability.

41. OTHER DISCLOSURES

Details of loans given, investment made and Guarantees given, covered U/S 186(4)
of the Companies Act 2013.

Investment made and loan given is disclosed under the Investment Schedule and loan
schedule of balance sheet (refer note 7 & 15 read with note no. 43). The company has not
given any guarantee. ¹

(*) The company had received a show cause notice dated 17.11.2006 from
Delhi Development Authority (DDA) demanding a sum of Rs. 258.68 Lakhs
(Excluding un determined interest) on account of ground rent in respect of its
property at Plot No. A-2, 3 & 4 in District Centre, Wazirpur, Delhi upto the period
14th July, 2006. Aggrieved by show cause notice issued by DDA, the company
filed a writ petition in the Hon'ble High Court of Delhi Challenging the aforesaid
demand. The Hon'ble High Court, vide its order dated 4th December, 2006 set-
aside the matter to DDA for reconsideration. DDA vide Notice dated 12.01.2010
demanded a sum of Rs. 398.46 lakhs (excluding interest) towards ground rent
upto the period 14.07.2010. Aggrieved by the said demand, the company again
filed a writ petition in the Hon'ble High Court of Delhi which vide its order dated
31.05.2010 stayed the operations of the order of DDA subject to company
depositing a sum of Rs. 100 Lakhs. As per the direction of Hon'ble High court,
the company has deposited the said amount of Rs. 100 lakhs on 10.06.2010.

The matter is pending for final disposal by the Hon'ble Court. The liability will be
determined only after the disposal of matter by the Hon'ble High Court of Delhi ;
and therefore at this stage, in the opinion of management any further provision
is neither considered necessary nor ascertainable. The effect of any arrear/
excess amount will be taken after the decision of the Hon'ble Court.

Growth rates: The growth rates used are in line with the long term average growth rates
of the respective industry and country in which the Company operates and are consistent
with the forecasts included in the industry reports.

Capital expenditures: The cash flow forecasts of capital expenditure are based on past
experience coupled with additional capital expenditure required.

46. Disclosure of Loans/Advances in the nature of loans in terms of provision of
regulation 34 of the SEBI (Listing Obligation and Disclosure requirements)

rpmilatinnc 9D1R-

45. IMPAIRMENT REVIEW

Assets are tested for impairment whenever there are any internal or external indicators of
impairment.

Impairment test is performed at the level of each Cash Generating Unit ('CGU') or groups
of CGUs within the Company at which the goodwill or other assets are monitored for
internal management purposes, within an operating segment.

The impairment assessment is based on higher of value in use and value from sale
calculations.

During the year, the testing did not result in any impairment in the carrying amount of
goodwill and other assets.

The measurement of the cash generating units' value in use is determined based on
financial plans that have been used by management for internal purposes. The planning
horizon reflects the assumptions for short to- midterm market conditions.

Key assumptions used in value-in-use calculations:

- Operating margins (Earnings before interest and taxes)

- Discount rate

- Growth rates

- Capital expenditures

Operating margins: Operating margins have been estimated based on past experience
after considering incremental revenue arising out of adoption of valued added and data
services from the existing and new customers, though these benefits are partially offset by
decline in tariffs in a hyper competitive scenario. Margins will be positively impacted from
the efficiencies and initiatives driven by the Company; at the same time, factors like higher
churn, increased cost of operations may impact the margins negatively.

Discount rate: Discount rate reflects the current market assessment of the risks specific to
a CGU or group of CGUs. The discount rate is estimated based on the weighted average
cost of capital for respective CGU or group of CGUs.

47. Pending Litigations

The Contingent liability in respect of pending litigations is disclosed in note no. 42. In
addition, the company is subject to legal proceedings and claims, which have arisen in
the ordinary course of business. The company's management does not reasonably expect
that the above legal claims and proceedings, when ultimately concluded and decided will
have a material and adverse effect on the company's results of operations or financial
statements.

48. Negative Working Capital

As at the year end, the Company's current liabilities have exceeded its current assets by
Rs. 689.09 Lakh (P.Y. Rs. 2004.90 Lakh) primarily due to liability on account of borrowing
and trade payable. Management is confident of its ability to generate cash inflows from
operations and also raise long term funds to meet its obligations on due date.

49. The Company did not have any long term contracts including derivative contracts for which
there were any material foreseeable losses.

50. The Company holds 58588 equity shares in its name as trustee in its depository account,
These shares are a result of fractional entitlement under its Scheme of Arrangemen

51. Corporate Social Responsibility

The Company was required to spent Rs. 19.58 Lakhs (Previous year Rs. Nil ) on Corporate
Social Responsibility(CSR) activities during the year. Amount spent during the year Rs.
19.91 lakhs (Previous Year Rs. Nil).

52. Lease

Expenses recognised in the statement of profit & loss in respect of lease for current year Rs. Nil (Previous year Rs. Nil /-).

53. Other statutory information

i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property.

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

iii) The company has peformed an assesment to identify transactions with Struck off Companies as at 31/03/2026 and the details of which are as under:-

iv) 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 for the
financial years ended March 31, 2026 and March 31,2025.

v) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

vi ) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary
shall:

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

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

vii) 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 Group shall:

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

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

viii) The Company has not 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.

ix) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

1

The total demand raised by MCD was Rs.83.86 Lakh (Previous Year Rs. 83.86
Lakh). Against this, the company deposited the admitted liability of Rs.5.65
Lakh (Previous Year Rs.5.65 Lakh). For the balance amount of Rs.78.21 Lakh
the company had filed a Writ Petition before the Hon'ble Delhi High Court. The
company had also filed a stay petition before the Hon'ble High Court praying for
stay for the payment of aforesaid amount of Rs.78.21 Lakh. As per direction of
Hon'ble Court the company paid a sum of Rs.10.18 Lakh against the aforesaid
demand and stay has been granted for the balance amount. During the year,
the MCD has launched a One-Time Property Tax Amnesty Scheme for the year
2025-26, titled “SUNIYO”. Under this scheme the company has paid the amount
of Rs. 3.11 Lakh on 30th Septemebr 2025 for full & final settlement and all the
court cases have been withdrawn by the company. Now the amount deposited
of Rs. 10.18 Lakhs with MCD has been charged in profit and loss account.