2.2.8. Provisions, Contingent Liabilities and Contingent Assets

2.2.8.1. Provisions

Provisions involving substantial degree of estimation in measurement are recognized when there is a legal or constructive
obligation as a result of past events, and it is probable that there will be an outflow of resources and a reliable estimate can
be made of the amount of obligation. Provisions are not recognized for future operating losses. The amount recognized as a
provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period,
considering the risks and uncertainties surrounding the obligation.

2.2.8.2. Contingent Liabilities

Contingent liabilities are not recognized and are disclosed by way of notes to the standalone financial statements 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 when there is a present obligation that
arises from past events where it is either not probable that an outflow of resources will be required to settle the same or a reliable
estimate of the amount in this respect cannot be made.

2.2.8.3. Contingent Assets

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within the control of the entity. During the normal course
of business, unresolved claims remain outstanding. The inflow of economic benefits, in respect of such claims cannot be
measured due to uncertainties that surround the related events and circumstances.

2.2.9. Employee Benefits

2.2.9.1. Short term employee benefits: They are accrued in the year in which services are rendered by the employees and are measured
on an undiscounted basis. Short-term employee benefits are recognized as an expense in the statement of profit and loss for the
year in which the related service is rendered.

2.2.9.2. Defined Contribution Plan: 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. Contribution payable the provident fund is
recognized as an expenditure in the statement of profit and loss and/ or carried to Construction work-in-progress when an
employee renders the related service.

2.2.93. Defined Benefit Plan: The Company’s obligation towards gratuity and superannuation, a defined benefit employee retirement
scheme is recognized on the basis of period end actuarial valuation determined under the Projected Unit Credit Method. The
trustees of the Scheme have funded the planned assets with the Life Insurance Corporation of India (LIC). Payments are made
by the Company based on demand raised by LIC.

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net
interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the
net defined benefit liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained
earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent
periods.

2.2.9.4. Other long term employee benefits: Short-term compensated absences are provided for based on estimates. The Company
treats accumulated leave expected to be carried forward beyond twelve months as long-term employee benefit for measurement
purposes. Such long-term compensated absences are provided for based on the actuarial valuation using the unit projected
credit method at the end of each financial year.

2.2.10. Revenue Recognition

2.2.10.1. Revenue from Operations

The Company runs a theme amusement park and generates revenue by way of sale of entry and ride tickets, sale of merchandise,
cooked foods and beverages. The Company also earns revenue from construction and supply of ride components and related
consultancies and incidental income from recreational facilities (venue charges etc.) and license fees, sponsorship & branding.

Revenue is measured at the transaction price based on the considerations specified in a contract with a customer and excludes
amounts collected on behalf of third parties. The revenue from sales is recognized when control over a product or service has
been transferred and/ or products/ services are delivered/provided to the customers. Transaction price of goods sold is net
of variable consideration on account of discounts offered by the Company and excludes amounts collected on behalf of third
parties.

a. Sale of Services

- Income from Entry Fees/ Rides/ Games etc.

Revenues from theme park/ water park ticket sales are recognized when the tickets are issued. Revenue from sale
of passes/ fun tickets-annual membership with all days validity which are non-refundable in nature are recognized
when passes/ tickets are sold. Revenue in respect of sale of tickets through agent for which validity period is beyond
the reporting date is recognized based on the usage of the tickets.

- Recreational Facility Income

Venue charges recovered are categorized as recreational facility income and revenue in this respect is recognized to the
extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

b. Revenue from Sale of Products:

Sale of products comprises of sale of food and beverages, merchandise and supply of components for rides. Revenue
from the sale of products is recognized at the point in time when control of the products is transferred to customers.
Revenue from the sale of products is measured at the fair value of the consideration received or receivables, net of
allowances, trade discounts and volume rebates (if any).

c. Revenue from Construction Contract

Revenue from construction contracts is recognized based on the stage of completion of the contract when the
performance creates an asset with no alternative use and an enforceable right to payment as performance is completed.

d. Barter Transactions

The Company recognizes revenue from Barter transactions involving Advertising at Fair Value of the advertising
services involved in the Barter transaction by taking reference to a non-barter transaction of similar nature and
accordingly recognize it over the period of the rights given to the party. When the fair value of the goods or services
received cannot be measured reliably, the revenue is measured at the fair value of the goods or services given up,
adjusted by the amount of any cash or cash equivalents transferred.

2.2.10.2. Other Income

a. Dividend Income

Dividend income from investments is recognized when the Company’s right to receive the payment of the same is
established.

b. Interest Income

Interest income from financial assets is recognized using an effective interest rate (EIR) method. EIR is the rate that
exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period,
where appropriate, to the gross carrying amount of the financial asset.

2.2.11. Borrowing Costs

Borrowing cost comprises of interest and other costs incurred in connection with the borrowing of the funds. All borrowing
costs are recognized in the statement of profit and loss using the effective interest method except to the extent attributable to
qualifying assets which are capitalized to the cost of the related assets. A qualifying PPE is an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale. Borrowing cost also includes exchange differences to the
extent considered as an adjustment to the borrowing costs.

2.2.12. Government Grants

Government grants are recognized at their fair value where there is a reasonable assurance that the grant will be received, and
the Company will comply with all attached conditions.

Government grants are recognized in the statement ofprofit & loss on a systematic basis over the periods in which the Company
recognizes the related costs for which the grants are intended to compensate.

Capital grant received from sponsors for construction of specific asset are recognized as deferred revenue in the balance sheet
and transferred to profit or loss on a systematic and rational basis over the useful lives of the related asset.

2.2.13. Taxes on Income

Income tax expense representing the sum of current tax expenses and the net charge of the deferred taxes is recognized in the
statement of profit and loss except to the extent that it relates to items recognized directly in equity or other comprehensive
income.

2.2.13.1. Current Tax

Current tax is provided on the taxable income and recognized at the amount expected to be paid to or recovered from the tax
authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized
amounts and where it intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously.

2.2.13.2. Deferred Tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the standalone
financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are
generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized 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 utilized.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the
reporting period.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no
longer probable that sufficient taxable profits will be available to allow all or part of the deferred tax asset to be utilized.

The Company offsets deferred tax assets and deferred tax liabilities, where it has a legally enforceable right to set offthe recognized
amounts and where it intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously.

2.2.14. Earnings Per Share

Basic earnings per share are computed by dividing the net profit attributable to the equity shareholders of the company by the
weighted average number of equity shares outstanding during the period.

Diluted earnings per share is computed by dividing the net profit attributable to the equity holders of the company by the
weighted average number of equity shares considered for deriving basic earnings per share and also the weighted average
number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

2.2.15. Statement of Cash Flows

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

2.2.16. Cash and Cash Equivalents

All highly liquid financial instruments, which are readily convertible into determinable amounts of cash, and which are subject
to an insignificant risk of change in value and are having original maturities of three months or less from the date of purchase,
are considered as cash equivalents. Cash and cash equivalents include balances with banks which are unrestricted for withdrawal
and usage.

2.2.17. Segment Reporting

The identification of operating segment is consistent with performance assessment and resource allocation by the Chief
Operating Decision Maker (CODM). An operating segment is a component of the Company that engages in business activities
from which it may earn revenues and incur expenses including revenues and expenses that relate to transactions with any of
the other components of the Company and for which discrete financial information is available.

2.3. CRITICAL ACCOUNTING JUDGMENTS, ASSUMPTIONS AND KEY SOURCES OF ESTIMATION AND UNCERTAINTY

The preparation of the Standalone Financial Statements in conformity with the measurement principle under Ind AS requires
management to make estimates, judgements and assumptions. These estimates, judgments and assumptions affect the
application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and
liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Accounting
estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates
are made as management becomes aware of changes in circumstances surrounding the estimates. Differences between the
actual results and estimates are recognized in the year in which the results are known/ materialized and, if material, their
effects are disclosed in the notes to the financial statements.

Application of accounting policies that require significant areas of estimation, uncertainty and critical judgments and the use
of assumptions in the financial statements have been disclosed below.

2.3.1. Depreciation/ amortization of and impairment loss on property, plant and equipment / intangible assets

Property, Plant and Equipment, ROU Assets and intangible assets are depreciated/amortized on straight-line basis over the estimated
useful lives (or lease term if shorter) in accordance with internal assessment and independent evaluation carried out by technical
expert/ Schedule II of the Companies Act, 2013, taking into account the estimated residual value, wherever applicable.

The company reviews it is carrying value of its Tangible and Intangible Assets whenever there is objective evidence that the assets
are impaired. The required level of impairment losses to be recognized is estimated by reference to the estimated value in use or
recoverable amount of the respective assets. In such situation Assets’ recoverable amount is estimated which is higher of assets or
cash generating units (CGU) fair value less cost of disposal and its value in use. In assessing value in use, the future cash flows are
estimated based on assumptions involving future projections and profitability which are inherently uncertain and are discounted
using pre-tax discount rate which reflect the current assessment of time value ofmoney. In determining fair value less cost of disposal,
recent market realizations are considered or otherwise in absence of such transactions appropriate valuations are adopted.

The Company reviews the estimated useful lives ofthe assets regularly in order to determine the amount ofdepreciation/ amortization
to be recorded during any reporting period. This reassessment may result in a change in such expenses in future periods.

2.3.2. Impairment loss on trade receivables

The Company evaluates whether there is any objective evidence that trade receivables are impaired and determines the amount of
impairment allowance as a result of the inability of the customers to make required payments. The Company bases the estimates on
the ageing of the trade receivables balance, creditworthiness of the trade receivables and historical write-off experience. If the financial
conditions of the trade receivable were to deteriorate, actual write-offs would be higher than estimated.

2.3.3. Current Tax and Deferred Tax

Significant judgment is required in determination of taxability of certain income and deductibility of certain expenses during
the estimation of the provision for income taxes. Also, there are many transactions and calculations during the ordinary course
of business for which the ultimate tax determination is uncertain.

The extent to which deferred tax assets can be recognised is based on the assessment of the probability of the Company’s future
taxable income against which the deferred tax assets can be utilised. In addition, significant judgement is required in assessing
the impact of any legal or economic benefits.

2.3.4. Defined benefit obligation (DBO)

The present value of the defined benefit obligations and long-term employee benefits depends on a number of factors that are
determined on an actuarial basis using a number of assumptions. The assumptions used in determining the net cost (income)
include the discount rate. Any changes in these assumptions will impact the carrying amount of defined benefit obligations. The
Company determines the appropriate discount rate at the end of each year. This is the interest rate that should be used to determine
the present value of estimated future cash outflows expected to be required to settle the obligations. In determining the appropriate
discount rate, the Company considers the interest rates of Government securities that have terms to maturity approximating the
terms of the related defined benefit obligation. Other key assumptions for obligations are based on current market conditions.

2.3.5. Impairment of Financial Assets

The Company reviews its carrying value of investments carried at cost annually, or more frequently when there is indication of
impairment. If recoverable amount is less than its carrying amount, the impairment loss is accounted for.

2.3.6. Going Concern

The renewal of the lease agreement between the company and the Government of West Bengal is under active consideration and
tenure thereof is expected to be extended. Pending outcome of the steps taken as above, operations and related arrangements have
been considered as ongoing and standalone financial statements has been continued to be made on the Going concern basis.

2.3.7. Provisions and Contingencies

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting
from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification
of the liability requires the application of judgement to existing facts and circumstances, which can be subject to change.

*Ail**lT

Management judgment 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.

The carrying amounts of provisions and liabilities and estimation for contingencies are reviewed regularly and revised to take
account of changing facts and circumstances.

20.1 Refer Statement of Changes in Equity for movement in Balances of Other Equity.

20.2 Nature of Other Equity

Securities Premium: Securities Premium represents the amount received in excess of par value of securities and is available for utilisation
as specified under Section 52 of the Companies Act, 2013.

General Reserve: General Reserve is created from time to time by appropriating profits from Retained Earnings. It is not earmarked for
any specific purpose.

Retained Earnings: Retained Earnings represents undistributed profit/ amount of accumulated earnings of the company. This also
includes Other Comprehensive Income/ (Loss) of ' (265.57 Lakhs) and Previous year ' (257.64 Lakhs) relating to Remeasurement of
Defined Benefit Plans (Net of Tax) which cannot be reclassified to Profit or Loss.

Other Comprehensive Income: This reserve represents the cumulative gains and losses arising on Equity Instruments measured at Fair
Value through Other Comprehensive Income. The company transfers amounts from this reserve directly to Retained Earnings when
the relevant Equity Instruments are disposed.

D) Notes:

* Post Employment Benefit Contribution does not include contribution towards Gratuity and Superannuation Fund for individual
KMPs as individual data for the same is not available and the same is provided for based on Actuarial Valuation.

(i) The above related parties information is as identified by the management and verified upon by the auditor based on the information
and explanations provided to them.

(ii) Terms and Conditions of Transactions with Related Parties:

In respect of above parties, the amount outstanding are unsecured and will be settled in cash. No guarantees have been given or
received. All transactions from related parties are made in ordinary course of business. No provision for bad and doubtful debts has
been recognized in current year and previous year in respect of the amounts owed by related parties. This assessment is undertaken
each financial year through examining the financial position of the related party and the market in which the related party operates.

(iii) As provided in the Articles of the Company, the Sitting fees paid to the Government Nominee Directors are drawn in the name of
Nominating Institutions.

44. Segment reporting

a) The Managing Director and Chief Executive Officer has been identified as the Company’s Chief Operating Decision Maker (CODM) in
terms of Ind AS 108 - “Operating Segments”. The CODM evaluates the Company’s performance and allocates resources based on an
analysis of various performance indicators by business segments. Management has determined the operating segments based on the
information reviewed by the CODM for the purpose of allocating and assessing performance. The Company has identified three business
segments viz, Park Operations, Consultancy, Contracts & Sale of Ride Components and F & B and other Recreational Facilities and
presented the same in the Financial Statements on a consistent basis. Revenue and Expenses have been identified to a segment on the
basis of relationship to operating activities of the segment. Indirect Costs are allocated to park operations only as amount to be attributed to
the other segments are not readily available and ascertainable. There are no inter segment revenues during the year. Revenue and Expenses
which relate to enterprise as a whole and are not allocable to any segment on reasonable basis have been disclosed as “Unallocable”.

Segment Assets and Segment Liabilities represent Assets and Liabilities of respective segment. The Assets and Liabilities which are
not allocable to an operating segment have been disclosed as ‘’Unallocable’’.

The expected contribution for the next Financial Year will be in line with FY 2024-25.

47. In the opinion of the management and to the best of their knowledge and belief, the Value on realization of Trade Receivables, Current
Assets, loans and Advances in the ordinary course of business would not be less than the amount at which they are stated in balance
sheet. The debit/credit Balances of parties are however, subject to confirmation and subsequent adjustments, if any.

48. Capital Management

The Company’s objective while managing capital is to safeguard its ability to continue as a going concern so that it can continue to provide
maximum returns to Shareholders and other Stake Holders. The Company manages its capital structure and makes adjustments in the
light of changes in the financial condition and the requirements of the financial covenants and return of capital to Shareholders. Even
though the company is predominantly equity financed, it also aims to ensure that it meets financial covenants attached to the interest¬
bearing loans and borrowings. The Company has complied with these covenants and there have been no breaches in the financial
covenants of any interest-bearing loans and borrowings. The Company does not have any debt outstanding as on 31st March, 2025 and
31st March, 2024.

No changes were made in the objectives, policies or processes for managing capital during the year ended 31st March, 2025 and 31st
March, 2024.

The gearing ratio has not been disclosed as the Company has no debt.

49-² Fair Value Techniques

The Fair Values of the Financial Assets and Liabilities are included at the amount that would be received to sell an asset or paid to transfer
a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the Fair Values:-

The Fair Value of Cash and Cash Equivalents, Bank Balance other than Cash and Cash Equivalents, Current Loans, Trade Receivables
and Trade Payables, Current Financial Liabilities and Assets approximate their carrying amount largely due to the short-term nature
of these instruments. The management considers that the carrying amounts of Financial Assets and Financial Liabilities recognised at
Cost/ Amortised Cost in the Financial Statements approximate their Fair Values.

Investments in Mutual Funds are valued based on the Net Asset Value (NAV) of those units at each reporting date. Investment in
Unquoted Equity Share of Companies (other than Investments in Associates) is valued based on the fair value report as per the latest
Audited Financial Statements.

49.3 Fair value hierarchy

The following table presents Fair Value hierarchy of Assets and Liabilities measured at Fair Value on a recurring basis as at balance sheet
date:

50. Financial Risk Management Objectives and Policies

The Company’s activities expose it to the following risks:

a) Credit Risk

b) Liquidity Risk

c) Market Risk

The Company’s senior management under the supervision of Board of Directors oversees the management of these risks. The Company’s
financial risks are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in
accordance with the Company’s policies and risk objectives.

50.1 Credit Risk

Credit risk is the risk that counter party will not meet its obligations under a financial instruments or customer contract leading to a
financial loss. The Company is exposed to credit risk from its operating activities (primarily Trade Receivables) and from its financing
activities including Deposits with Banks and Financial Institutions, Investments and other financial instruments. Outstanding customer
receivables are regularly monitored and the maximum exposure to credit risk at reporting date is the carrying value of trade receivables
disclosed in note no. 12.

50.2 Liquidity Risk

Liquidity risk is the risk that the company will encounter difficulty in meeting its obligations associated with its financial liabilities.
The Company determines its liquidity requirement in the short, medium and long term. Its objective is to maintain optimum levels of
liquidity to meet its cash and collateral requirements at all times. The Company relies on a mix of borrowings and excess operating cash
flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium/ long term expansion
needs. The Company monitors rolling forecasts of its liquidity requirements to ensure it has sufficient cash to meet operational needs.

50.3 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. Market risk comprises three types of risk i.e., interest rate risk operational risk, foreign currency risk and other price risk.

Financial instruments affected by market risk include borrowings, Trade Receivables and Trade Payables.

i) 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 engages consultants imports goods and other services, and sells component goods and services,
wherein the payments and /or receipts are made in foreign currency. There is no outstanding asset/ liability in foreign currency as
on the Balance Sheet date.

ii) 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. Currently, the Company does not have either short term or long term borrowings and accordingly, the
Company is not exposed to interest rate risk.

iii) Other price risk is related to the change in market reference price of the investments which are fair valued and exposes the company
to price risks.The carrying amount of financial assets and liabilities subject to price risk is as below:

52. As per the Joint Sector Agreement hereinafter referred to as (“JSA”)dated 23.02.1990 executed between The National Insulated Cable
Company of India Limited (known as Nicco Corporation Limited, hereinafter referred to as NCL) under liquidation, West Bengal Tourism
Development Corporation Limited herein after referred to as (WBTDC) and West Bengal Industrial Development Corporation Limited
hereinafter referred to as (WBIDC), the Company’s land, on which Amusement Park and where is defined F&B & other recreational
operations are being carried out was made available to the Company for a period of 33 years on lease with renewal clause for two more
terms of similar period. Pursuant to liquidation proceedings against NCL, shares of the Company held by them has been transferred
and thereby, the JSA as specified therein has become infructuous and inoperative. Moreover, the first tenure of the lease of 33 years vide
agreement dated 05.07.1991 between the Governor of the State of West Bengal and the Company had expired on 28.02.2023. Necessary
application for the renewal of lease agreement has been made with the Department of Tourism, Government of West Bengal vide
letter dated 11.10.2022, is pending this and finalisation of the terms and condition thereof , The provision for the fees and charges as
estimatyed by the management applying its own judgement for possible enhancement etc. following the prudent principal of accounting
has been made in these Financial Statements. However ,such fees and charges as agreed upon in terms of earlier agreement , have been
continued to be paid and expensed during the relevent period. As stated by the management, the application for renewal is under active
consideration and the tenure of lease is expected to be renewed. Accordingly, operations and related arrangements have been considered
as ongoing as per the terms and conditions provided in the above agreement and required provisions including for depreciation etc. has
been recognised as estimated and the Financial Statement has been continued to be prepared on Going Concern Basis.

53- Nicco Jubilee Park Limited (NJPL) had incurred losses in earlier years and on prudence basis the entire investment was impaired. There
has been a turn around in the performance of Nicco Jubilee Park Limited in recent years (specially post covid) and the Net worth is
positive now. After the review of the performance throughout the current and previous year, management has decided to reverse the
impairment done in earlier years and accordingly, an exceptional item of ' 81 lakhs has been credited to the statement of profit and loss.

54. Other Statutory Information

i. Based on the information available with the Company from the website of Ministry of Corporate affairs, the Company, neither had
any transaction during the years ended 31st March, 2025 and 31st March, 2024 with companies, which have been struck off by the
Registrar of Companies, nor any balance is outstanding from such companies as at the end of reporting years.

ii. There are no proceedings which have been initiated or pending against the Company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 and the Rules made thereunder.

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

iv. The Company has not carried out any such transactions which is not recorded in the books of accounts that have been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

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

vi. There is no charge or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

vii No funds have been advanced or loaned or invested (either from borrowed funds or securities premium or any other sources or kind of
funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company
(Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the
Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Funding Party
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

viii. The company has complied with the number of layers under clause (87) of Section 2 of the Companies Act, 2013, read with
Companies ( Restriction on Number of Layers) Rules, 2017 for the financial years ended 31st march 2025 and 31st March,2024.

55. “Events after the Balance Sheet:

On 27th May, 2025, the Company’s Board of Directors declared the fourth interim dividend of ' 0.40 per equity share for the year ended
31st March, 2025. This is in addition to the three interim dividends already declared and paid by the company during the year 2024-25
aggregating to ' 0.80 per equity shares. The Company has paid the 4th interim dividend @ ' 0.50 pertaining to the year 2023-24 during
the year ended 31st March, 2025. In view of the interim dividends paid by the Company, no final dividend has been proposed by the
Board of Directors for the year ended 31st March, 2025.”

56. The previous year’s figures have been regrouped and rearranged wherever necessary to make them comparable with those of current
year’s figures.

57. The Standalone Financial Statements have been approved by Board of Directors of the Company in their meeting dated 27th May, 2025
for issue to the Shareholders for their approval.

As per our Report of even date attached. For and on behalf of the Board of Directors

S/d S/d

For Lodha & Co LLP Vijay Dewan Rajesh Raisinghani

Chartered Accountants Independent Director Managing Director & CEO

Firm’s Registration No. 301051E/ E300284 (DIN: 00051164) (DIN: 07137479)

S/d S/d S/d

Indranil Chaudhuri Rahul Mitra Subhra Das Mukherjee

Partner Executive President -Company Secretary & Vice President &

Membership No. 058940 Compliance Officer Chief Financial Officer

(Membership No: ACS20714) (Membership No: 058557)

Place: Kolkata
Date: 27th May, 2025