2.3.6 Provisions and contingent liabilities
Provisions are recognised when the Company has a
present obligation (legal or constructive) as a result of
a past event, it is probable that the Company 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 a current pre-tax rate
that reflects current market assessments of the time
value of money and the risks specific to the liability.
When discounting is used, the increase in the provision
due to the passage of time is recognized as a finance cost.
When some or all of economic benefits required to settle a
provision are expected to be recovered from a third party,
a receivable is recognised as on asset if it is virtually certain
that reimbursements will be received and amount of the
receivable can be measured reliably.
A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may,
but probably will not, require an outflow of resources.
When there is a possible obligation or a present obligation
that the likelihood of outflow of resources is remote, no
provision or disclosure is made.
2.3.7 Leases
Leases for which the company is a lessor is classified as a
finance or operating lease. Whenever the terms of the lease
transfer substantially all the risks and rewards of ownership
to the lessee, the contract is classified as a finance lease.
All other leases are classified as operating leases.
For operating leases, rental income is recognized in the
statement of profit and loss on a straight line basis or
another systematic basis over the term of the relevant
lease. The respective leased assets are presented in the
balance sheet based on their nature.
2.3.8 Financial instruments
A financial instrument is any contract that gives rise to
a financial asset of one entity and a financial liability or
equity instrument of another entity.
(i) Initial recognition
Financial assets and financial liabilities are
recognised when the Company becomes a party to
the contractual provisions of the instruments.
Financial assets and financial liabilities are initially
measured at fair value except for trade receivable
which is initially measured at transaction price.
Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial
liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are
added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate,
on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or
financial liabilities at fair value through profit or loss
are recognised immediately in profit or loss.
(ii) Subsequent measurement
A. Financial assets
(a) Financial assets measured at amortized cost
Financial instruments that meet the following
conditions are subsequently measured at amortised
cost (except for debt instruments that are designated
as at fair value through profit or loss on initial
recognition):
a. the asset is held within a business model whose
objective is to hold assets in order to collect
contractual cash flows; and
b. the contractual terms of the instrument give
rise on specified dates to cash flows that are
solely payments of principal and interest on the
principal amount outstanding.
The carrying amounts of financial assets that are
subsequently measured at amortised cost are
determined based on the effective interest method
less any impairment losses.
Interest income for such instruments is recognised
in profit or loss using the effective interest rate (EIR)
method, which is the rate that exactly discounts
estimated future cash receipts through the expected
life of the financial asset to that asset's gross
carrying amount.
(b) Financial assets measured at fair value
through other comprehensive income
Financial instruments that meet the following
conditions are subsequently measured at fair value
through other comprehensive income (except for
debt instruments that are designated as at fair value
through profit or loss on initial recognition):
a. the asset is held within a business model
whose objective is achieved both by collecting
contractual cash flows and selling financial
assets; and
b. the contractual terms of the instrument give
rise on specified dates to cash flows that are
solely payments of principal and interest on the
principal amount outstanding.
Interest income for such instruments is recognised
in profit or loss using the effective interest rate (EIR)
method, which is the rate that exactly discounts
estimated future cash receipts through the expected
life of the financial asset to that asset's gross
carrying amount.
Fair value changes on such assets are recognised
in the other comprehensive income (OCI) until the
financial asset is derecognised. On de-recognition,
cumulative gain or loss previously recognised in OCI
is reclassified to the statement of profit and loss.
(c) Financial assets measured at fair value through
profit or loss (FVTPL)
All other financial assets are subsequently measured
at fair value through profit or loss , unless the
Company irrevocably elects on initial recognition
to present subsequent changes in fair value in other
comprehensive income for investments in equity
instruments which are not held for trading.
Dividend income from such instruments is
recognized in the statement of profit and loss, when
the right to receive the payment is established.
Fair value changes on such assets are recognised
in the statement of profit and loss. Any gain or loss
arising on de-recognition of such assets is recognised
in the statement of profit and loss in the period in
which it arises.
(d) Investments in equity instruments measured
at fair value through other comprehensive
income (FVTOCI)
This includes the investment in equity instruments
not held for trading where the Company, on initial
recognition, has made an irrevocable election to
present the subsequent changes in fair value in
other comprehensive income pertaining to such
investments in equity instruments.
Dividend income from such instruments is
recognized in the statement of profit and loss, when
the right to receive the payment is established.
Fair value changes on such investments are
recognised in the other comprehensive income
(OCI) and are never reclassified to Statement of
Profit and Loss.
(e) Investment in associates
Interest in associates are recognised at cost
and not adjusted to fair value at the end of
each reporting period. Cost represents amount
paid for acquisition of the said investments.
The Company assesses at the end of each reporting
period, if there are any indications that the said
investments may be impaired. If so, the Company
estimates the recoverable value/amount of the
investment and provides for impairment, if any
i.e. the deficit in the recoverable value over cost.
Dividend income from such instruments is
recognized in the statement of profit and loss, when
the right to receive the payment is established."
B. Financial liabilities
All financial liabilities are subsequently measured at
amortised cost using the effective interest method
or at FVTPL.
(a) Financial liabilities at fair value through profit
and loss (FVTPL)
Financial liabilities are classified as at FVTPL when the
financial liability is either contingent consideration
recognised by the Company as an acquirer in a
business combination to which Ind AS 103 applies
or is held for trading or it is designated as at FVTPL.
A financial liability is classified as held for trading if:
a. it has been incurred principally for the purpose
of repurchasing it in the near term; or
b. on initial recognition it is part of a portfolio
of identified financial instruments that the
Company manages together and has a recent
actual pattern of short-term profit-taking; or
c. it is a derivative that is not designated and
effective as a hedging instrument.
A financial liability other than a financial liability held
for trading or contingent consideration recognised
by the Company as an acquirer in a business
combination to which Ind AS 103 applies, may be
designated as at FVTPL upon initial recognition if:
a. such designation eliminates or significantly
reduces a measurement or recognition
inconsistency that would otherwise arise;
b. the financial liability forms part of group of
financial assets or financial liabilities or both,
which is managed and its performance is
evaluated on a fair value basis, in accordance
with the Company's documented risk
management or investment strategy, and
information about the grouping is provided
internally on that basis; or
c. it forms part of a contract containing one or
more embedded derivatives, and Ind AS 109
permits the entire combined contract to be
designated as at FVTPL in accordance with
Ind AS 109.
Financial liabilities at FVTPL are stated at fair value,
with any gains or losses arising on remeasurement
recognised in profit or loss.
(b) Financial liabilities measured at amortised cost
Financial liabilities that are not held-for-trading and
are not designated as at FVTPL are measured at
amortised cost at the end of subsequent accounting
periods. The carrying amounts of financial liabilities
that are subsequently measured at amortised cost are
determined based on the effective interest method.
C. Equity Instruments
An equity instrument is any contract that evidences
a residual interest in the assets of the Company after
deducting all of its liabilities. Equity instruments are
recorded at the proceeds received. Incremental costs
directly attributable to the issuance of equity
instruments and buy back of equity instruments are
recognized as a deduction from equity, net of any
tax effects.
(iii) Impairment of financial assets
Financial assets that are carried at amortised cost
and fair value through other comprehensive income
(FVOCI) are assessed for possible impairments basis
expected credit losses taking into account the past
history of recovery, risk of default of the counterparty,
existing market conditions etc. The impairment
methodology applied depends on whether there has
been a significant increase in credit risk since initial
recognition.
Expected Credit Losses are measured through a loss
allowance at an amount equal to:
• 12-months expected credit losses (expected
credit losses that result from those default events
on the financial instrument that are possible
within 12 months after the reporting date); or
• Lifetime expected credit losses (expected credit
losses that result from all possible default events
over the life of financial instruments).
For trade receivables or any contractual right to
receive cash or another financial asset that result
from transaction that are within the scope of Ind AS
115 and Ind AS 116, the Company always measures
the loss allowance at an amount equal to lifetime
expected credit losses.
For all other financial assets, expected credit losses
are measured at an amount equal to the 12-month
ECL, unless there has been a significant increase
in credit risk from initial recognition in which case
those are measured at lifetime ECL.
(iv) De-recognition of financial instruments
(a) Derecognition of financial assets
The Company derecognises a financial asset (or, a
part of a financial asset) when:
(i) The contractual right to the cash flows from the
financial asset expires, or
(ii) The company transfers its right to receive cash
flow from the financial assets and substantially
all the risks and rewards of ownership of the
asset to another party.
On derecognition of a financial asset, the
difference between the asset's carrying amount
and the sum of the consideration received/
receivable is recognised in the profit or loss.
(b) Derecognition of financial liabilities
The Company derecognises financial liabilities when,
and only when, the Company's obligations are
discharged, cancelled or have expired. An exchange
between with a lender of debt instruments with
substantially different terms is accounted for as an
extinguishment of the original financial liability and
the recognition of a new financial liability. Similarly, a
substantial modification of the terms of an existing
financial liability (whether or not attributable to the
financial difficulty of the debtor) is accounted for as
an extinguishment of the original financial liability
and the recognition of a new financial liability.
On derecognition of a financial liability, the difference
between the carrying amount of the financial liability
derecognised and the consideration paid/payable is
recognised in profit or loss.
(v) Offsetting financial instruments
Financial assets and financial liabilities are offset and
the net amount is reported in the balance sheet, if
there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle them on a net basis or to realise the assets and
settle the liabilities simultaneously.
(vi) Write off
The gross carrying amount of a financial asset is
written off when the Company has no reasonable
expectations of recovering the financial asset in its
entirety or a portion thereof.
2.3.9 Earnings per share
Basic earnings per equity share are computed by dividing
the net profit attributable to the equity holders of the
Company by the weighted average number of equity
shares outstanding during the period.
For the purpose of calculating diluted earnings per share,
the profit for the period attributable to equity shareholders
and the weighted average number of shares outstanding
during the period is adjusted for the effects of all dilutive
potential equity shares.
2.3.10 Cash and cash equivalents
Cash and cash equivalents comprise cash in hand,
unrestricted balances with banks and short-term
investments with the original maturity of three months
or less, which are subject to an insignificant risk of
changes in value.
2.3.11 Dividend
Final dividend on shares is recorded as a liability on the
date of approval by the shareholders and interim dividend
are recorded as a liability on the date of declaration by the
company's Board of Directors.
2.3.12 Statement of Cash flows
The statement of cash flows is prepared in accordance with
the Indian Accounting Standard (Ind AS) - 7 "Statement
of Cash flows" using the indirect method for operating
activities whereby profit or loss 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
items of income or expense associated with investing or
financing cash flows.
2.4 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES
AND ASSUMPTIONS
In the application of the Company accounting policies,
the management of the Company is required to make
judgements, estimates and assumptions that affect the
reported amount of income, expenses, assets and liabilities
and disclosure of contingent liabilities. The estimates and
associated assumptions are based on historical experience
and other factors that are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed
on an ongoing basis. The effect of revisions to accounting
estimates are recognised in the period in which the
estimate is revised if the revision affects only that period
or in the period of the revision and future periods if the
revision affects both current and future periods.
The following are the areas of estimation and critical
judgements that the management has made in the
process of applying the Company's accounting policies
and that have the most significant effect on the amounts
recognised in the standalone financial statements:
(a) Defined benefit plans
The cost of the defined benefit plan and other
post-employment benefits and the present value
of such obligation are determined using actuarial
valuations. An actuarial valuation involves making various
assumptions that may differ from actual developments
in the future. These include the determination of the
discount rate, future, salary increases, mortality rates
and future pension increases. Due to the complexities
involved in the valuation and its long-term nature, a
defined benefit obligation is highly sensitive to changes in
these assumptions. All assumptions are reviewed at each
reporting date.
(b) Useful lives of depreciable tangible assets
The estimated useful lives of property plant and equipment
and intangible assets are based on a number of factors
including the effects of obsolescence, internal assessment
of user experience and other economic factors (such as
the known technological advancements, commercial
obsolescence of the asset etc.). The useful life of property
plant and equipment and intangible assets is reviewed on
an ongoing basis.
(c) Fair Value measurements and valuation processes
When the fair values of financial assets and financial
liabilities recorded in the Balance Sheet cannot be
measured based on quoted prices in active markets, their
fair values are measured using valuation techniques,
including the discounted cash flow model, underlying
asset model, comparable companies multiple method and
comparable transaction method which involve various
judgements and assumptions.
(d) Provisions/ Contingent Liabilities
In ordinary course of business, the Company faces claims
by various parties. The Company annually assesses such
claims and monitors the legal environment on an ongoing
basis, with the assistance of external legal counsel,
wherever necessary. Significant judgement is required
for estimating the possible outflow of resources, if any, in
respect of claims/litigations against the Company which
involves judgements around estimating the ultimate
outcome of such past events and measurement of the
obligation amount etc.
2.5 Applicability of new and revised IND AS
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. MCA has not notified any new standards
or amendment to the existing standards applicable to the
company as at March 31,2026.
Further Ind AS 118, Presentation and Disclosure in Financial
Statements, has been issued by ICAI and is effective
for annual periods beginning on or after April 1, 2027.
The Company is evaluating the impact of the Standard
on its financial statements.
15.1 Rights, preference and restriction attached to equity shares
The Company has one class of equity shares having a par value of H10/- each. Each holder of equity shares is entitled to one
vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing
annual general meeting. In the event of liquidation of the Company, the holders 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
15.2 Rights, preference and restriction attached to preference shares
The rate of dividend on preference shares will be decided by the Board of Directors as and when issued. Preferential shares as
and when issued shall have the cumulative right to receive dividend as and when declared and shall have preferential right
of repayment on amount of capital.
Nature and Purposes of Reserves
a. Capital reserve
Capital reserve represents reserve recognised on amalgamation being the difference between consideration amount
and net assets of the transferee Company.
b. Capital redemption reserve
Capital Redemption reserve is a statutory, non-distributable reserve into which amounts are transferred following the
redemption or purchase of a Company's own shares.
c. Securities premium
Securities premium represents amount of premium recognised on issue of shares to shareholders at a price more than
its face value. The reserve can be utilised only for limited purposes in accordance with section 52 and other provisions
of the Companies Act, 2013.
d. General reserve
General reserve is used from time to time to transfer profits from retained earnings for appropriation purposes.
General reserve is free reserve available for distribution as recommended by Board in accordance with requirements of
the Companies Act, 2013.
e. Statutory Reserve (u/s 45-IC of RBI Act, 1934)
Statutory Reserve is mandatory reserve to be created by NBFC Companies u/s 45-IC of RBI Act, 1934 every year @ 20% of
net profit after tax during the year.
f. Retained earnings
Retained earnings are the profits earned till date after transfers to general/other reserves, dividends or other distributions
paid to the shareholders. The amount is available for distribution to its equity shareholders.
g. Equity instrument through other comprehensive income
Reserve for equity instruments through other comprehensive income represents the cumulative gains and losses arising
on the fair valuation of certain equity instruments which the Company has elected to be measured at fair value through
other comprehensive income. The amount from this reserve is transferred to retained earnings when such equity
instruments are derecognised.
The fair value of financial instruments have been classified into three categories depending on the inputs used in the valuation
technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and lowest priority to unobservable inputs (Level 3 measurements)
Level 1:
Quoted prices in an active market: This level of hierarchy includes financial instruments that are measured by reference to
quoted prices (unadjusted) in active markets for identical instruments.
Level 2:
Valuation techniques with observable inputs: This level of hierarchy includes financial assets and liabilities, measured using
inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as
prices) or indirectly (i.e., derived from prices).
Level 3:
Valuation techniques with unobservable inputs: This level of hierarchy includes instruments measured using inputs that are
not based on observable market data (unobservable inputs). Fair value is determined in whole or in part, using a valuation
model based on assumptions that are neither supported by prices from observable current market transactions in the same
instruments nor based on available market data.
The following methods and assumptions were used to estimate the fair values:
Quoted equity investments: Fair value is derived from quoted market prices in active markets.
Unquoted equity investments: Fair value is derived on the basis of net asset value approach, in this approach the net asset
value is used to capture the fair value of these investments.
Quoted mutual funds: Fair value is determined by reference to quotes from the financial institutions, i.e. net asset value (NAV)
for mutual fund declared by mutual fund house.
Unquoted debentures/other funds: Fair value is determined by reference to quotes from fund houses/portfolio management
services companies.
25.3 Financial Risk Management
This note explains the risk which company is exposed to and policies and framework adopted by the company to manage
these risks.
The Company's activities expose it mainly to the market risk, credit risk and liquidity risk.
The monitoring and management of such risks is undertaken by the senior management of the Company. There are appropriate
policies and procedures in place through which such financial risks are identified, measured and managed by the Company.
The Audit Committee and the Board are regularly apprised of these risks and measures used to mitigate these risks.
a. Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of adverse
changes in market rates and prices such as currency risk, interest rate risk, other price risk etc.
(i) Currency Risk
Currently company does not have transaction in foreign currencies and hence the company is not exposed to
currency risk
(ii) Interest rate risk
Since the Company does not have any significant financial assets or financial liabilities bearing floating interest rates,
any change in interest rates would not have any significant impact on the financial statements of the Company.
(iii) Price Risk
The company is exposed to price risk arising from investments held by the company and classified in the balance
sheet either as at fair value through profit or loss or at fair value through other comprehensive income.
To manage its price risk arising from investments, the company diversifies its portfolio in equity, debt, money market
and other instruments (including through funds). The Company also has strategic asset allocation benchmarks and
risk limits.
Sensitivity analysis
The table below summaries the impact of increase/decrease in the prices of investments held at the end of the year on
the company's profit and other comprehensive income for the year. The analysis is based on the assumption that prices
of investments are increased or decreased by 5% with all other variables held constant:
(i) In respect of investments measured at fair value through profit or loss, profit for the year ended March 31,2026
would have been increased/decreased by H1,469.32 Lakhs (March 31, 2025 by H1,347.42 Lakhs) as a result of the
changes in prices of investments.
(ii) In respect of investments measured at fair value through other comprehensive income, other comprehensive
income for the year ended March 31,2026 would have been increased/decreased by H1,097.62 Lakhs (March 31,
2025: 1,058.09 Lakhs) as a result of the changes in prices of investments.
b. Credit Risk
Credit risk is the risk of financial loss to the company if a customer or counter-party fails to meet its contractual obligations.
Financial instruments that are subject to concentrations of credit risk principally consist of receivables, cash and cash
equivalents, bank deposits, investments in debentures, mutual funds & other funds and other financial assets.
The maximum exposure to credit risk was H28,618.77 Lakhs and H25,896.02 Lakhs, as at March 31,2026 and March 31,
2025 respectively, being the total carrying value of trade receivables, cash and cash equivalents, balances with bank,
investments (excluding equity investments) and other financial assets.
Credit risk with respect to receivables is limited, since the receivables amount is immaterial. To manage the credit risk,
the credit worthiness of the receivables is evaluated on an ongoing basis and investment is made only after considering
counterparty risks based on multiple criteria including Tier I capital, Capital Adequacy Ratio, Credit Rating, Profitability,
NPA levels and deposit base of banks and financial institutions etc. These risks are monitored regularly as per its risk
management program.
As at the end of the reporting period, all the investments have been fair valued and receivables, bank balances and other
financial assets are considered to be good.
c. Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as and when they become due.
The Company has no borrowings. Further, other financial liabilities of the Company are negligible amounting to H7.25
Lakhs and H7.00 Lakhs as at March 31,2026 and March 31,2025 respectively.
The Company's principal sources of liquidity are cash and cash equivalents and cash flows that are generated from
operations. Additionally, the Company has invested its surplus funds in such instruments ensuring availability of liquidity
as and when required.
Hence, the Company carries a negligible liquidity risk.
26 Employee Benefits
26.1 Defined Contribution plans
The Company has not incurred any expense on account of defined contribution plans during the year ended March 31,2026
and March 31, 2025.
The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees in terms of
the provisions of the Code on Social Security, 2020. This defined benefit plan of gratuity is administered by a separate trust
that is legally separate from the entity. The Company makes annual contributions to the trust and trust is responsible for
investments with regard to the assets of the trust. The Company accounts for the liability for gratuity benefits payable in the
future based on actuarial valuation using projected unit credit method. Each year, the Company review the level of funding.
Such a review includes the asset-liability matching strategy and assessment of the investment risk. The Company decides its
contribution based on the results of this annual review.
These plans typically expose the Company to actuarial risks such as investment risk, interest rate risk, longevity risk and
salary risk.
Investment Risk
The actual return on plan assets below the expected return will create plan deficit.
Salary Risk
The present value of defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future.
Deviation in rate of increase in salary in future for plan participants from the rate of increase in salary used to determine the
present value of obligation will have a bearing on the plan's liability.
Interest Risk
The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate
cost of providing the above benefit and will thus result in an increase in value of the liability.
Longevity Risk
The present value of defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan
participants both during and after employment. An increase in the life expectancy of the plan participants will increase the
plans liability.
Plan assets comprises of mutual fund, Government of India securities and bank balances. The average duration of the defined
benefit obligation is 8.49 years (2025: 9.16 years). The Company expects to make a contribution of H1.42 lacs (March 31,2025:
H0.89 lacs) to the defined benefit plans during the next financial year.
Terms and conditions of transactions with related parties
All related party transactions entered during the year were in ordinary course of the business and on arm's length basis.
Outstanding balances at the year-end are unsecured and settlement occurs in cash.
There have been no guarantees provided or received for any related party. For the year ended 31st March, 2026, the Company
has not recorded any impairment in respect of any bad or doubtful debts due from related parties (March 31,2025: Nil).
29 Segment Information
The Company is primarily in the Investment business. The Chairman and Managing Director of the Company, which has been
identified as being the Chief Operating Decision Maker (CODM), evaluates the Company's performance, allocate resources
based on the analysis of the various performance indicator of the Company as a single unit. Therefore, there is only one
reportable segment for the Company.
33 Details of loans given, investments made and guarantee given covered u/s 186(4) of the Companies Act, 2013
The Company, being an NBFC registered with the RBI and engaged in the business of investments in ordinary course of its
business, is exempt from complying with the provisions of section 186 of the Act with respect to investments. Accordingly, the
disclosures required under the said section in respect of investments made are not applicable. Further, the Company has not
given any loan to any person during the year.
34 Capital Management
For the purposes of the Company's capital management, capital includes equity share capital, securities premium and all other
reserves attributable to the equity shareholders.
The primary objective of the Company's Capital Management is to maximize the return to shareholders and also maintain an
optimal capital structure to reduce cost of capital.
The Company's policy is to maintain a strong capital base so as to maintain investors', creditors' and market confidence and
to sustain future development of the business.
In the absence of any debt, the maintenance of debt equity ratio etc. is having no relevance to the Company.
The Company is not subject to any externally imposed capital requirements.
No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2026
and 31 March 2025.
6. Other disclosures
a) Registration obtained from other financial sector regulators
Apart from RBI, Company is also governed by SEBI and MCA.
b) Disclosure of penalties imposed by RBI and other regulators
No penalty has been imposed by RBI or other regulators during the year ended March 31,2026 and March 31,2025.
c) Ratings assigned by credit rating agencies and migration of ratings during the year
Not applicable
Note:
The below disclosures as required in terms of Annex XVI of Non-Banking Financial Company - Systemically Important Non¬
Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 are not applicable to the Company:
1. Derivatives
2. Details of financing of parent company products
3. Details of Single Borrower Limit (SBL) / Group Borrower Limit (GBL) exceeded by the NBFC
4. Unsecured advances
5. Concentration of deposits, advances, exposures and NPAs
6. Overseas assets (for those with joint ventures and subsidiaries abroad)
7. Off-balance sheet SPVs sponsored
8. Disclosure of customer complaints
38 Events after the Reporting Period
The Board of directors have recommended the payment of Final dividend of H5/- per equity share (previous year H5/- per equity
share) which is subject to the approval of Shareholders in the Annual General meeting.
39 Following are the additional disclosures required as per Schedule III to the Companies Act, 2013
a. No proceeding have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988).
b. The company has not been declared as wilful defaulter by any bank or financial Institution or other lender.
c. The company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013
or section 560 of Companies Act, 1956.
d. There are no transactions which are 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).
e. No funds that have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("Intermediaries"),
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 ("Ultimate Beneficiaries") by or on behalf of
the Company; or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
f. No funds have been received by the company from any person(s) or entity(ies), including foreign entities ("funding
party") with the understanding, whether recorded in writing or otherwise, that the company shall directly or indirectly
lend or invest in other persons or entities 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.
g. During the financial year, the Company has not traded or invested in Crypto currency or Virtual Currency.
h. The company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.
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