అకౌంట్స్ గమనికలుMSL Global Ltd.

Mar 31, 2025

1.15. Provisions, contingent liabilities, contingent assets

A provision is recognized when the Company has a present obligation (legal or constructive] as a result
of a past event and it is probable that an outflow of resources will be required to settle the obligation, in
respect of which a reliable estimate can be made. If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risk 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. These are reviewed at each balance sheet date and adjusted to reflect the
current best estimates.

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 in respect of which the likelihood of outflow of resources is remote, no provision or
disclosure is made.

The Company does not recognize a contingent asset but discloses its existence in the financial statements
if the inflow of economic benefits is probable. However, when the realization of income is virtually
certain, then the related asset is no longer a contingent asset, but it is recognized as an asset.

Provisions, contingent liabilities, contingent assets, and commitments are reviewed at each balance sheet
date.

1.16. Earnings per share

Basic & Diluted earnings per share are computed using the net profit for the year attributable to the
shareholders and the weighted average number of shares outstanding during the year.

1.17. 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. Financial assets and financial liabilities are initially
measured at fair value. 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 were directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss and are recognized
immediately in profit or loss.

Financial Investments

Non-Current Investments include Investment in Partnership Firm which is stated as Original Capital
invested, Share of profit earned by the Firm and the interest earned on the Capital.

II. OTHER DISCLOSURES

1. (a] The Company had paid Rs. 12 Crores to Primus Retail (P) Ltd. pursuant to the BTA and
Shares were issued for consideration other than cash prior to the transfer of Brand & Business
assets. However, Primus Retail Pvt. Ltd. could not honor the Agreement due to Court order.
Therefore, the amount of Rs. 12 Crores paid for the contract stands recoverable which is treated
as an Advance to be recovered in cash or kind.

(b) The Primus Retail P. L. has been declared under liquidation, hence, the advance of Rs. 12 Crores
has become doubtful in nature. No provision of doubtful advances is made in the books of
accounts since Management is putting efforts for recovery or settlement with the concerned
persons on account of the liquidation of Primus Retail Pvt. Ltd.

(c) The Company had given business advance to one party in the earlier year for which the
receivable is doubtful in nature. No provision of doubtful advances is made in the books of
accounts since Management is putting efforts into recovery or settlement.

2. The Company holds some old investments in Equity Shares of companies of around Rs. 1.87 Lakhs.

However, the Company has not fair valued the unquoted investments, and the investments are
carried at cost. The Management is in the process of getting a valuation of the companies. Further,
no provision for diminution in the value of investments is made for the same.

3. (a) Contingent liability

Income Tax Dues for AY 2013-14 of Rs. 158 lakhs pending before CIT (A).

(b) Capital Commitments

23921 Partly paid CC Preference Shares in Compliance Kart Private Ltd of Rs.31.35 each, Rs.0.5
each paid-up.

4. The Company has no significant business activities at present. Therefore, the Company has not
provided for any deferred taxes on Business losses made during the year.

5. SEGMENT REPORTING (as per Ind AS 108 issued by I.C.A.I.):

The Company has mainly one reportable business segment and hence no further disclosures is
required under Ind AS - 108 on segment reporting.

6. The outstanding balance of assets considered good and liabilities are actuals as they appear in the
books of accounts and are subject to reconciliation/adjustments if any, and confirmation by
respective parties.

7. RELATED PARTY DISCLOSURE (as per Ind AS - 24 issued by I.C.A.I):

The transaction with the related party is mentioned in the specific Notes, as applicable

8. Previous year''s figures are regrouped and/or rearranged, wherever necessary.

As per our Report of the even date attached

For S. V. BHAT & CO. FOR AND ON BEHALF OF THE BOARD

CHARTERED ACCOUNTANTS

(ICAI Firm Reg. No. 101298W) MR. SALIM P. GOVANI MRS. SAUSAN BUKHARI

PROMOTER DIRECTOR DIRECTOR

SWATI SADANAND BHAT MR. HARSH JAVERI Ms. Kratika Sharma

PARTNER INDEPENDENT DIRECTOR Company Secretary

(Membership No.: 152110)

PLACE: MUMBAI PLACE: MUMBAI

DATED: 29^th May,2025 DATED: 29^th May,2025

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Mar 31, 2024

1.15. Provisions, contingent liabilities, contingent assets

A provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risk 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. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

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 in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

The Company does not recognize a contingent asset but discloses its existence in the financial statements if the inflow of economic benefits is probable. However, when the realization of income is virtually certain, then the related asset is no longer a contingent asset, but it is recognized as an asset.

Provisions, contingent liabilities, contingent assets, and commitments are reviewed at each balance sheet date.

1.16. Earnings per share

Basic & Diluted earnings per share are computed using the net profit for the year attributable to the shareholders and the weighted average number of shares outstanding during the year.

1.17. 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. Financial assets and financial liabilities are initially measured at fair value. 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 were directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss and are recognized immediately in profit or loss.

Financial Investments

Non-Current Investments include Investment in Partnership Firm which is stated as Original Capital invested, Share of profit earned by the Firm and the interest earned on the Capital.

II. OTHER DISCLOSURES

1. (a) The Company had paid Rs. 12 Crores to Primus Retail (P) Ltd. pursuant to the BTA and Shares were issued for consideration other than cash prior to the transfer of Brand & Business assets. However, Primus Retail Pvt. Ltd. could not honour the Agreement due to Court order. Therefore, the amount of Rs. 12 Crores paid for the contract stands recoverable which is treated as an Advance to be recovered in cash or kind.

(b) The Primus Retail P. L. has been declared under liquidation, hence, the advance of Rs. 12 Crores has become doubtful in nature. No provision of doubtful advances is made in the books of accounts since Management is putting efforts for recovery or settlement with the concerned persons on account of the liquidation of Primus Retail Pvt. Ltd.

(c) The Company had given business advance to one party in the earlier year for which the receivable is doubtful in nature. No provision of doubtful advances is made in the books of accounts since Management is putting efforts into recovery or settlement.

2. The Company holds some old investments in Equity Shares of companies of around Rs. 1.87 Lakhs.

However, the Company has not fair valued the unquoted investments, and the investments are carried at cost. The Management is in the process of getting a valuation of the companies. Further, no provision for diminution in the value of investments is made for the same.

3. (a) Contingent liability

Income Tax Dues for AY 2013-14 of Rs. 158 lakhs pending before CIT (A).

(b) Capital Commitments

As per the Management, no capital Commitment or any future contracts are made by the Company.

4. The Company has no significant business activities at present. Therefore, the Company has not provided for any deferred taxes on Business losses made during the year.

5. SEGMENT REPORTING (as per Ind AS 108 issued by I.C.A.I.):

The Company has mainly one reportable business segment and hence no further disclosures is required under Ind AS - 108 on segment reporting.

6. The outstanding balance of assets considered good and liabilities are actuals as they appear in the books of accounts and are subject to reconciliation/adjustments if any, and confirmation by respective parties.

7. RELATED PARTY DISCLOSURE (as per Ind AS - 24 issued by I.C.A.I):

The transaction with the related party is mentioned in the specific Notes, as applicable

8. Previous year’s figures are regrouped and/or rearranged, wherever necessary.

As per our Report of the even date attached

For S. V. BHAT & CO. FOR AND ON BEHALF OF THE BOARD

CHARTERED ACCOUNTANTS

(ICAI Firm Reg. No. 101298W) MR. SALIM P. GOVANI MRS. SAUSAN BUKHARI

PROMOTER DIRECTOR DIRECTOR

SWATI SADANAND BHAT MR. HARSH JAVERI Ms. Kratika Sharma

PARTNER INDEPENDENT DIRECTOR Company Secretary

(Membership No.: 152110)

PLACE: MUMBAI PLACE: MUMBAI

DATED: 27.05.2024 DATED: 27.05.2024

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Mar 31, 2015

1. i. Contingent liability:

The Company has received an order from SEBI dated 17th April, 2015 imposing a penalty of Rs.3,00,000/- for the violation under the SEBI Regulation. ii. Capital Commitments - NIL

2. The Company has paid Rs. 12 Crores to Primus Retail (P) Ltd. pursuant to the BTA Agreement dated 04/02/2011. Due to non-performance by Primus Retail (P) Ltd of their obligation, BTA Agreement stands cancelled. Consequently, the amount of Rs. 12 Crores is recoverable and is treated as Advance to be recovered from the Company which has gone for liquidation. No provision for doubtful debts is made.

3. 61,42,847 equity Shares of Rs. 10/- each were issued without any cash consideration to Primus Retail (P) Ltd. pursuant to BTA for transfer of its Brand & Business. High Court has declined Primus Retail (P) Ltd. to transfer the Brand & Business. Therefore, equity shares issued in lieu of BTA has not materialized, consequently the said shares stands as cancelled & subsequently forfeited by the Company. The securities premium account is adjusted to give effect of cancellation and forfeiture of own shares. The face value of such shares are accounted as Forfeited Shares (to be reissued), pending statutory approval / consideration.

4. The Company has not provided for any deferred taxes on Business losses made during the year.

5. SEGMENT REPORTING (as per AS-17 issued by I.C.A.I.):

The Company has mainly one reportable business segment and hence no further disclosures is required under Accounting Standard (AS) -17 on segment reporting.

6. No employee was in receipt of a remuneration aggregating to Rs. 60,00,000/- or more per annum, if employed for the whole year or Rs. 5,00,000/- or more per month, were employed for a part of the year.

7. The outstanding balance of assets and liabilities are accepted as they appear in the books of accounts and are subject to reconciliation / adjustments, if any, and confirmation by respective parties.

8. Previous year''s figures are regrouped and / or rearranged, wherever necessary.

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Mar 31, 2014

1. OTHER DISCLOSURES

a. There are no contingent liabilities & Capital Commitments to the company as on March 31, 2014.

b. The Company has paid Rs. 12 Crores to Primus Retail (P) Ltd. pursuant to the BTA Agreement dated 04/02/2011. Due to non performance by Primus Retail (P) Ltd of their obligation, BTA Agreement stands cancelled. Consequently, the amount of Rs. 12 Crores is recoverable and is treated as Advance to be recovered.

c. The BTA Agreement with Primus Retail (P) Ltd. stands cancelled for which necessary statutory compliances are under progress. Consequently, the allotment of 61,42,857 Equity Shares allotted of Rs. 10 each at a premium of Rs. 60 each amounting to Rs. 43 Crores on 16/05/2011 stands cancelled in view of the contract being void.

d. The Company has not provided for any deferred taxes on Business losses made during the year.

e. SEGMENT REPORTING (as per AS-17 issued by I.C.A.I.):

The Company has mainly one reportable business segment and hence no further disclosures is required under Accounting Standard (AS) -17 on segment reporting.

f. No employee was in receipt of a remuneration aggregating to Rs. 60,00,000/- or more per annum, if employed for the whole year or Rs. 5,00,000/- or more per month, were employed for a part of the year.

g. The outstanding balance of assets and liabilities are accepted as they appear in the books of accounts and are subject to reconciliation / adjustments, if any, and confirmation by respective parties.

h. Previous year''s figures are regrouped and / or rearranged, wherever necessary.

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Mar 31, 2013

A. There are no contingent liabilities to the company as on March 31, 2013.

b. Capital Commitment:

The Company had taken over the business of Weekender from Primus Retail P. L. vide agreement dated 04/02/2011 for Rs. 100 Crores and part payment of Rs. 12 Crores is made in cash and Equity Shares for 61,42,857 shares of Rs. 10 each at a premium of Rs. 60 each totalling to Rs. 43 Crores are issued for consideration other than cash, balance about Rs. 45 Crores remained outstanding in the previous year.

c. During the year, Primus Retail P. L. has expressed their inability to transfer and sale the "Weekender" Brand as per the Business agreement dated 04/02/2011. Madhusudan Securities Limited has sought for cancellation of the agreement dated 04/02/2011. This shall result into cancellation of the consideration paid for other than cash of 61,42,857 Equity Shares issued of Rs. 10 each at a premium of Rs. 60 each totalling to Rs. 43 Crores, subject to completing statutory formalities and Madhusudan Securities Limited has put a claim of recovery of Rs. 12 Crores paid to Primus Retail P. L. pursuant to BTA.

d. The revenue figures of the business takeover are not included above since requisites permissions are under process, to be received from the statutory Authorities and pending compliance of the Agreement.

e. The Company has not provided for any deferred taxes on Business losses made during the year.

f. SEGMENT REPORTING (as per AS-17 issued by I.C.A.I.):

The Company has mainly one reportable business segment and hence no further disclosures is required under Accounting Standard (AS) –17 on segment reporting.

g. No employee was in receipt of a remuneration aggregating to Rs. 60,00,000/- or more per annum, if employed for the whole year or Rs. 5,00,000/- or more per month, were employed for a part of the year.

h. The outstanding balance of assets and liabilities are accepted as they appear in the books of accounts and are subject to reconciliation / adjustments, if any, and confirmation by respective parties

i. Previous year''s figures are regrouped and/or rearranged, wherever necessary

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Mar 31, 2012

A) Details of Equity Shares allotted during the year

1. 61,42,857 Equity Shares of Rs. 10/- each have been allotted to Primus Retail Pvt Ltd at a premium of Rs. 60, as fully paid up, pursuant to Takeover agreement dated 04/02/2011, for consideration other than cash.

2. 10,52,630 Equity Shares of Rs. 10/- each have been allotted at a premium of Rs. 66, fully paid up, as prefential allotment to 3 parties.

b) Terms / rights attached to the equity shares

The Company has equity shares having a Face value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. The dividend, if any, proposed by the Board of Directors, is subject to the approval of the shareholders in the ensuing Annual General Meeting.

* - The Special Reserve was created as per the RBI Regulation u/s 45 (IC) in the past. The Company has change d its Main Object to Dealing in Textile Garments. Therefore, application of provisions of NBFC will not be applicable and the said reserve shall be part of General Reserve, henceforth.

* - Other payables includes amount of Rs. 14,82,000 (P.Y. 14,82,000) payable to Sree Sanjeeva Raghu Agencies P. L., Concern in which Directors are interested.

Note All the investments held by the Company in Shares and others are long term in nature, are registered in its own name (Physical / Demat form) or are under process of registration by the Company and are free from any encumbrances.

No Provisions is made for diminishing in value of investment being Long Term in nature as considered by the management

1 . Contingent Liability: NIL

2 . Capital Commitment:

The Company has taken over the business of Weekender from Primus Retail Private Limited vide agreement dated 04-02-2011 for Rs. 100 Crores and part payment upto Rs. 55 Crores is made. Therefore, The estimated amount of contracts remaining to be executed on Capital A/c and not provided for is Rs. 45 Crores (P.Y. Rs.93 Crores).

The revenue figures of the business takeover are not included above since requisites permission are under process, to be received from the statutory authorities and pending compliance of the Agreement.

3. No employee was in receipt of a remuneration aggregating to Rs. 60,00,000/- or more per annum, if employed for the whole year or Rs. 5,00,000/- or more per month, were employed for a part of the year.

4 . Segment reporting as per A.S. 17 issued by ICAI:

The Company has mainly one reportable business segment at present. Therefore, no further disclosure is required under AS 17 on segment reporting.

5 . To comply with Revised Schedule VI, previous years' figures have been regrouped / recast wherever necessary and applicable.

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Mar 31, 2010

1. In the opinion of the Directors there were no contingent liabilities as at the Balance Sheet date.

2. No Provision of interest accrued on advances of Rs.l5,50,000/-is made since advance is doubtful in nature and legal proceedings are initiated and pending judgement of the Court

3. No employee was in receipt of a remuneration aggregating to Rs. 24,00,000/- or more per annum, if employed for the whole year or Rs. 2,00,000/- or more per month, were employed for a part of the year.

4. a) Investment made by the company being of long term nature, diminution in the value of quoted investments of Rs. 21, 87, 266/- are not considered, being permanent in nature and thus in the opinion of the management no provision for the same has been made thereon.

b) All the investments held by the Company in Shares and Debentures and others are long term in nature, are registered in its own name (physical / Demat form) and / or are under process of registration by the Company and free from any encumbrances.

5. Other information as required by Schedule VI. Part II of the Companies Act, 1956 relating to employees, Micro, Small & Medium Enterprises Development Act, 2006, exports, imports and earnings in foreign currency, remittance in foreign currency is not given, as the same is NOT APPLICABLE.

6. Sundry Debtors, Sundry Creditors and Loans & Advances are subject to Confirmation and Reconciliation, if any.

7. Segment reporting as per A.S. 17 issued by ICAI;

The Company has mainly one reportable business segment and hence no further disclosure is required under AS 17 on segment reporting.

8. Related party Disclosures as per A.S.-18 issued by ICAI:

In accordance with the Accounting Standard 18, "Related Party Disclosure" issued by the Institute of Chartered Accountants of India, the company has complied and certified the required information as stated below:

a) LIST OF RELATED PARTIES;

S.No. Particulars Name of Related Parties

Shri. K. Madhusudan Reddy

1. Key Management Personnel Smt Piya Reddy Smt Sujatha Reddy

Enterprise owned or significantly influenced by K.S.R. Clearing & Shipping Agents Pvt Ltd

2. Key Management Personnel or their relatives. Nav Bharat Carrriers Pvt Ltd

9. Previous years figures have been regrouped / recast wherever necessary and applicable.