h) Provisions

The Company recognizes a provision when: it has a present legal or constructive obligation as a result of past
events; it is likely that an outflow of resources will be required to settle the obligation; and the amount has been
reliably estimated. Provisions are not recognized for future operating losses.

i) Retirement and other benefits
Provident Fund

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation,
other than the contribution payable to the provident fund. The Company recognizes contribution payable to the
provident fund scheme as an expense, when an employee renders the related service.

Gratuity

Gratuity, a defined benefit obligation for the confirmed employees, is provided on the basis of an actuarial
valuation made at the end of each year on projected unit credit method. The company used to have a Group
Gratuity Scheme managed by Life Insurance Corporation of India (LIC) which was dormant, now getting revived.
The company shall make the necessary contribution at the end of each year as calculated by LIC. There were no
employees qualifying for Gratuity as on 31st March 2020 hence no provision has been made. In case of any
employee giving up his/her retirement and other employee benefits in writing, no provision being made for the
same.

Compensated Absences

The Company has a policy on compensated absences which are both accumulating and non-accumulating in
nature for the confirmed employees. The expected cost of accumulating compensated absences is determined as
per the method well accepted method.

Expense on non-accumulating compensated absences is recognized in the period in which the absences occur.

j) Financial Instruments

(i) Financial Assets & Financial Liabilities
Initial recognition and measurement

All financial assets and liabilities are recognised initially at fair value.

In the case of financial assets not recorded at fair value through profit or loss, transaction costs that are
attributable to the acquisition of the financial asset is treated as cost of acquisition. Purchases or sales of financial
assets that require delivery of assets within a time frame established by regulation or convention in the market
place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase
or sell the asset.

Impairment of financial assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at
amortised cost. The impairment methodology applied depends on whether there has been a significant increase in
credit risk.

(ii) Investments in Subsidiaries/ Associates/ Joint ventures

Investments in subsidiaries are carried at cost.

Derecognition

Financial asset or a liability (or, where applicable, a part of financial asset or a liability) is derecognised (i.e.
removed from the Company's Balance Sheet) when:

a) The Contractual rights to cash flows from the financial asset or liability expires.

b) The Company transfers its contractual rights to receive or incurr cash flows of the financial asset and liability
respectively and has substanially transferred all the risk & rewards of ownership of the financial asset or liability.

k) Revenue Recognition

i) Revenue from sale of goods is recognised net of returns, and trade discount, on transfer of significant risk and
rewards in respect of ownership to the buyer which is generally on dispatch of goods. Sales exclude sales tax and
value added tax or GST.

ii) Revenue from services is recognised when all relevant activities are completed and the right to receive income
is established.

iii) Revenue in respect of insurance/ other claims, commission, etc. are recognised only when it is reasonably
certain that the ultimate collection will be made.

iv) Interest income is recorded using the effective interest rate (EIR) on accrual basis.

l) Leases

Disclosure in accordance with Ind AS - 17 “Leases”, of the Companies (Indian Accounting Standards) Rules,
2015. The Company has taken the office premises under leave and license agreements. The period is for 2 years
under leave and license basis from February 2018. These arrangements are renewable by mutual consent on
mutually agreed terms. Under some of these arrangements the Company has given refundable security deposits.

m) Segment Reporting

Disclosure as required by Ind AS 108 “Operating Segment”, of the Companies (Indian Accounting Standards)
Rules, 2015. In accordance with Ind AS “Operating Segment”, the Company has only one reportable operating
segment i.e. Internet & Retail Catalogue.

n) Earning Per Share

Disclosure as required by Accounting Standard - Ind AS 33 “Earning Per Share” of the Companies (Indian
Accounting Standards) Rules 2015. The earning per share is calculated by dividing the profit after tax by weighted
average number of shares outstanding for basic & diluted EPS.

o) Taxes

Tax expenses comprise Current Tax and Deferred Tax.:

i) Current Tax:

The income tax expense or credit for the period is the tax payable on the current period's taxable income based on
the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities
attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the
basis of the tax laws enacted or substantively enacted at the end of the reporting period.

ii) Deferred Tax:

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax
assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible temporary differences can be utilised. Such
deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition
(other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit
nor the accounting assets relate to the same taxable entity and same taxation authority.

Deferred Tax Assets are recognized only to the extent there is virtual certainty supported by convincing evidence
that they can be realized against future taxable profits.A deferred tax asset shall be recognized for the carry
forward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be
available against it which the unused tax losses and unused tax credits can be utilized. To the extent that it is not
probable that taxable profit will be available against which the unused tax losses or unused tax credits can be
utilized, the deferred tax asset is not recognized.

iii) MAT Credit

Minimum Alternate Tax (MAT) paid in a year is charged to the Statement of Profit and Loss as current tax. The
Company recognises MAT credit available as an asset only to the extent that there is reasonable certainty that the
Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to
be carried forward. The MAT credit to the extent there is reasonable certainty that the Company will utilise the
credit is recognised in the Statement of Profit and Loss and corresponding debit is done to the Deferred Tax Asset
as unused tax credit.

p) GST Credit

GST credit utilised during the year is accounted in GST liability and unutilised GST Tax credit at the year end is
considered as duties and taxes refundable.

q) Market and Technology Development Expenses

Revenue expenditure on market and technology development is charged to Statement of Profit and Loss in the
year in which it is incurred. Capital expenditure in nature of acquiring licenses etc on marketing and technology
development is considered as an addition to tangible assets.

r) Applicability of new and revised IND AS:

All the Indian Accounting Standards issued and notified by the Ministry of Corporate Affairs under the Companies
(Indian Accounting Standards) Rules, 2015 (as amended) till the financial statements are authorized have been
considered in preparing these financial statements.

(ii) Fair value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are measured at amortised cost and for which fair
values are disclosed in the financial statements.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes instruments like listed equity instruments, traded bonds and mutual funds
that have quoted price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-thecounter derivatives) is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an
instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(iii) Valuation process

The finance department of the Company performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values.

The carrying amounts of security deposit, cash and cash equivalents, current trade payables, book overdraft and short term borrowings are considered to be the same as their
fair values, due to their short-term nature.

21 Financial Risk Management

The Company has paused its Internet Retail business for the time being for further evaluation in the proces, technology and and overall business activities. In the meanwhile,
the company is exploring new lines of activities and may come up with its full launch in the coming months. Based on its status, the company is exposed it to a variety of risks
as stated below:

a.High Technology Obsolescence

Back bone of our past and new businesses is technology. A continuous investment (huge) is required to sustain the growth. If the financial resources are not mobilized on
timely basis and investment in technology stops, the business of the company would suffer adversely.

b. Competition:

We, like every business, face competition and therefore there is always a risk of competition in our existing and new businesses.

c. Financial Resources:

The company needs to spend and invest in the iStreet Bazaar project continuously during its initial few years. The company has been making efforts for raising resources since
quite some time. However there has been a very little success. Delays in raising resources may impact operations and the growth plan of the company to a great extent.
These delays are sometimes beyond the control of the company.

d. Free Tradability on Exchange:

The company’s shares are traded on the BSE Limited (BSE). To maintain the exchange integrity and protect investors’ interest, BSE may impose restrictionson trading of
sharesin the company on exchange from time to time which may impact free tradability and fresh fund raising capability of the company required to mainatain and expand its
business.The business of the company requires continuous fresh capital infusion till it reaches a threshold level.

21.2 Capital Management

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders.
The primary objective of the Company’s capital management is to maximize the shareholder value and to ensure the Company's ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. Total debt comprises of non-current borrowing which
represents external commercial borrowing and term loans from banks less cash and cash equivalents . The Company manages the capital structure and makes adjustments to
it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

40 Significant accounting judgments, estimates ana assumptions:

The financial statements require management to make judgments, estimates ana assumptions that affect the reported amounts cf revenues, expenses, assets ana liabilities, ana the accompanying disclosures,
ana the disclosures ofcortingert liabilities. Uncertainty aboutthese assumptions ana estimates could result in outcomes that require a material adjustment to the carrying amourt of assets orliabilities affected
in future periods.

41 The Balance Sheet, Statement of Profit ana Loss, Cash Flow Statement, Statement of changes in equity, Statement of significant accounting policies ana the other explanatory notes forms an integral part ofthe
financial statements of the Company for the year ended March 31, 2024

42 Previous year's fgures have been regrouped /rearranged wherever considered necessary.

⁴³ Absolute amounts less than INR 50,000 are appearing in the financial statements as "0" due to presentation in Lacs.

44 There were no transaction in the Company which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments underthe Income TaxAct,

1961 (such as, search or suivey or any other relevant provisions of the Income Tax Act, 1961

45 The Company is not declared a willful defaulter by any bank or financial institution or other lenders

46 The Company has no transactions with the struck off Companies under Section 248 or 560 of the Act.

47 No proceedings were initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988

48 There are no ultimate beneficiaries to whom the Company has lert/invested nor received any fund during the year within the meaning of Foreign Exchange Management Act 1999 and Prevention of money
Laundering Act 2002

49 The Company has complied related to number of layers prescribed under clause (87) of section 2 of ihe Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017

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

51 The Company has not borrowed any money from any issue of securities and long term borrowings from banks and f nancial institutions and hence utlization for the specif c purpose for which the funds were

raised is not applicable

52 The company has not borrowed any money from banks or financial institutions on the basis of security of current assets and hence disclosure pertaining to it are not applicable to the Company

53 The Company does not have any Loans and Advances from the related party as on 31st March 2023 and 31st March 2024

As per our report of even date

For S M M P & Company For and on behalf of the Board of Directors

Chartered Accountants
FRN - 120438 W

Pradeep Malu SanjeevChhajed

Chintan Shah (Director) Director

Partner DIN : 00001959 DIN No. 02849462

(MN. 166729)

Mumbai, Date : May 21, 2024

UDIN : 24166729BKCPXE6409 Surabhi Pal

Company Secretary