అకౌంట్స్ గమనికలుNiyogin Fintech Ltd.

Mar 31, 2025

3.16 Provisions, contingent liabilities and contingent
assets

A. Provisions

Provisions are recognised when the Company has a present
obligation (legal or constructive) as a result of past events,
and it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation,
and a reliable estimate can be made of the amount of the
obligation. When the effect of the time value of money is
material, the Company determines the level of provision
by discounting the expected cash flows at a pre-tax rate
reflecting the current rates specific to the liability. The expense
relating to any provision is presented in the statement of profit
and loss net of any reimbursement.

B. Contingent liability

A possible obligation that arises from past events and 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; present
obligation that arises from past events where it is not probable
that an outflow of resources embodying economic benefits
will be required to settle the obligation; or the amount of the
obligation cannot be measured with sufficient reliability are
disclosed as contingent liability and not provided for.

C. Contingent asset

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 Company.
Contingent assets are neither recognised not disclosed in the
financial statements.

3.17 Taxes

A. Current tax

Current tax assets and liabilities for the current and prior
years are measured at the amount expected to be recovered
from, or paid to, the taxation authorities. Current tax is the
amount of tax payable on the taxable income for the period

as determined in accordance with the applicable tax rates
and the provisions of the Income Tax Act, 1961.

Current income tax relating to items recognised outside profit
or loss is recognised outside profit or loss (either in other
comprehensive income or in equity). Current tax items are
recognised in correlation to the underlying transaction either
in OCI or equity.

B. Deferred tax

Deferred tax is recognised 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 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 realised, 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 liabilities and assets are reviewed at the end of
each reporting period.

A deferred tax asset is recognised for the carryforward of
unused tax losses and accumulated depreciation to the extent
that it is probable that future taxable profit will be available
against which the unused tax losses and accumulated
depreciation can be utilised.

Deferred tax relating to items recognised outside profit
or loss is recognised outside profit or loss (either in other
comprehensive income or in equity). Deferred tax items are
recognised in correlation to the underlying transaction either
in OCI or equity.

Deferred tax assets and liabilities are offset if such items relate
to taxes on income levied by the same governing tax laws and
the Company has a legally enforceable right for such set off.

C. Goods and services tax paid on acquisition of
assets or on incurring expenses

Expenses and assets are recognised net of the goods and
services tax paid, except when the tax incurred on a purchase
of assets or availing of services is not recoverable from the
taxation authority, in which case, the tax paid is recognised
as part of the cost of acquisition of the asset or as part of the
expense item, as applicable.

3.18 Earnings per share

Basic earnings per share (''EPS'') is computed by dividing
the profit after tax (i.e. profit attributable to ordinary equity
holders) by the weighted average number of equity shares
outstanding during the year.

Diluted EPS is computed by dividing the profit after tax (i.e.
profit attributable to ordinary equity holders) as adjusted
for after-tax amount of dividends and interest recognised in
the period in respect of the dilutive potential ordinary shares
and is adjusted for any other changes in income or expense
that would result from the conversion of the dilutive potential
ordinary shares, by the weighted average number of equity
shares considered for deriving basic earnings per share as
increased by the weighted average number of additional

ordinary shares that would have been outstanding assuming
the conversion of all dilutive potential ordinary shares.

Potential equity shares are deemed to be dilutive only if their
conversion to equity shares would decrease the net profit per
share from continuing ordinary operations. Potential dilutive
equity shares are deemed to be converted as at the beginning
of the period, unless they have been issued at a later date.
Dilutive potential equity shares are determined independently
for each period presented. The number of equity shares
and potentially dilutive equity shares are adjusted for share
splits/reverse share splits, right issue and bonus shares, as
appropriate.

3.19 Dividends on ordinary shares

The Company recognises a liability to make cash or non¬
cash distributions to equity holders of the Company when the
distribution is authorised and the distribution is no longer at
the discretion of the Company. As per the Act, final dividend
is authorised when it is approved by the shareholders and
interim dividend is authorised when the it is approved by the
Board of Directors of the Company. A corresponding amount
is recognised directly in equity.

Non-cash distributions are measured at the fair value of
the assets to be distributed with fair value re-measurement
recognised directly in equity.

Upon distribution of non-cash assets, any difference between
the carrying amount of the liability and the carrying amount of

the assets distributed is recognised in the statement of profit
and loss.

3.20 Cash flow statement

Cash flows are reported using the indirect method as
prescribed under Ind AS 7, whereby profit before tax is
adjusted for the effects of transactions of non-cash nature
and any deferrals or accruals of past or future cash receipts
or payments. The cash flows from operating, investing and
financing activities of the Company are segregated based on
the available information.

3.21 Share Warrants

The Company accounts for share warrants in accordance
with Ind AS 32 - Financial Instruments: Presentation and Ind
AS 109 - Financial Instruments.

Share warrants are classified as equity instruments when they
provide the holder the right to subscribe to a fixed number of
equity shares at a fixed price, with no contractual obligation
for cash settlement. The amount received on issuance is
recognized under equity as "Share Warrants".

Upon exercise, the warrant amount is transferred to share
capital and securities premium, as applicable. If the warrants
expire unexercised, the balance is transferred to general
reserves. Where share warrants do not meet the criteria
for equity classification, they are accounted for as financial
liabilities in accordance with Ind AS 109.

b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par
value of '' 10 per share. Each holder of equity shares is entitled
to one vote per share. The Company declares and pays
dividend, if any in Indian Rupees. The dividend proposed by
the Board of Directors is subject to approval of shareholders in
the ensuing Annual General Meeting.

During the Year ended 31 March 2025, the amount of per share
dividend recognised as distributions to Equity Shareholders
was Nil (31 March 2024 Nil).

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. However, no such preferential amounts exists
currently. The distribution will be in proportion to the number
of equity shares held by the shareholder.

On August 23, 2023, the Board of Directors of the Company
had approved the allotment of 1,75,36,011 (One Crore
Seventy-Five lakhs Thirty-Six Thousand and Eleven only)
warrants, each convertible into, or exchangeable for, 1 (one)
fully paid-up equity share of the Company of face value of
'' 10/- each ("Warrants") at a price of '' 45.62/- (Rupees Forty-
Five and Sixty-Two Paisa only) each (including the warrant
subscription price and the warrant exercise price) including
premium of '' 35.62/- (Rupees Thirty-Five and Sixty-Two
Paisa only) each, payable in cash per warrant aggregating

upto '' 79,99,92,821.82 (Rupees Seventy-Nine Crore Ninety-
Nine lakhs Ninety-Two Thousand Eight Hundred Twenty-
One and Eighty-Two paisa only), against the receipt of 25%
of the issue price (i.e. '' 11.405 per warrant) aggregating to
'' 19,99,98,205.46 (Ninety Crore Ninety-Nine lakhs Ninety-Eight
Thousand Two Hundred Five and Forty-Six Paisa Only). The
Warrants will be convertible in equal number of equity shares
of face value of '' 10/- each, on receipt of balance 75% of
the issue price (i.e. '' 34.215 per warrant) within a period of
18 months from the date allotment of Warrants. During the
year ended on 31 March 2024, the Company has allotted
6,57,600 equity shares upon receipt of a balance amount
of aggregating to '' 2,24,99,784/- (Rupees Two Crores
Twenty-Four lakhs Ninety-Nine Thousand Seven Hundred
and Eighty-Four Only) from one of the allottee pursuant to
the exercise of his rights of conversion into equity shares in
accordance with the provisions of SEBI (ICDR) Regulations,
2018. During the year ended on 31 March 2025, the Company
has allotted 1,57,82,411 equity shares upon receipt of a balance
amount of aggregating to '' 53,99,95,192.37 (Fifty Three
Crore Ninety Nine lakhs Ninety Five Thousand One Hundred
Ninety Two and Thirty Seven Paisa Only) from some of the
allottees pursuant to the exercise of their rights of conversion.
10,96,000 Warrants were cancelled on February 23, 2025,
due to non-exercise of option to convert warrants into equity
shares within the stipulated eighteen-month period from the
date of allotment. Accordingly, '' 1,25,00,000 being 25% of the
issue price was forfeited and the same was transferred to
General Reserve.

Nature and purpose of the reserve

a) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes
such as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013.

b) Retained earnings

Retained earnings represents the deficit in profit and loss account.

The Company recognises change on account of remeasurement of the net defined benefit liability/(asset) as part of retained
earnings with separate disclosure, which comprises of actuarial gains and losses.

c) Employee stock option reserve

The share options outstanding account reserve is used to recognise the grant date fair value of options issued to employees
under the Company''s ESOP 2018 plan. Please refer note 32 for the details of the plan.

d) Special Reserve under Section 45 IC of RBI Act, 1934

Special reserve is created as per the requirement of RBI at the rate of 20% of the profit after tax for the year.

e) General Reserve

Represents appropriation of funds from retained earnings and other free reserves.

35. CORPORATE SOCIAL RESPONSIBILITY (''CSR'') EXPENSES

Provisions of Section 135 of the Act are not applicable to the Company.

36. SEGMENT REPORTING

Operating segment are components of the Company whose operating results are regularly reviewed by the Chief Operating
Decision Maker (''CODM'') to make decisions about resources to be allocated to the segment and assess its performance and for
which discrete financial information is available.

The Company is engaged primarily on the business of "Financing" only, taking into account the risks and returns, the organization
structure and the internal reporting systems. All the operations of the Company are in India. All non-current assets of the Company
are located in India. Accordingly, there are no separate reportable segments as per Ind AS 108 - "Operating segments".

(b) Defined benefit plan
Gratuity

Financial assets not measured at fair value

The Company operates a defined benefit plan (the ''gratuity
plan'') covering eligible employees. The gratuity plan is
governed by the Payment of Gratuity Act, 1972. Under the act,
employee who has completed five years of service is entitled
to specific benefit. The level of benefits provided depends on
the member''s length of service and salary at retirement age/
resignation date.

The defined benefit plans expose the Company to risks such
as actuarial risk, liquidity risk, market risk, legislative risk. These
are discussed as follows:

Actuarial risk: It is the risk that benefits will cost more than
expected. This can arise due to one of the following reasons:

Adverse salary growth experience: Salary hikes that are
higher than the assumed salary escalation will result into an
increase in obligation at a rate that is higher than expected.

Variability in mortality rates: If actual mortality rates are
higher than assumed mortality rate assumption than the
gratuity benefits will be paid earlier than expected. Since
there is no condition of vesting on the death benefit, the
acceleration of cash flow will lead to an actuarial loss or
gain depending on the relative values of the assumed salary
growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates
are higher than assumed withdrawal rate assumption then
the gratuity benefits will be paid earlier than expected. The
impact of this will depend on whether the benefits are vested
as at the resignation date.

Liquidity risk: Employees with high salaries and long durations
or those higher in hierarchy, accumulate significant level of
benefits. If some of such employees resign/retire from the
Company, there can be strain on the cash flows.

Market risk: Market risk is a collective term for risks that
are related to the changes and fluctuations of the financial
markets. One actuarial assumption that has a material effect
is the discount rate. The discount rate reflects the time value
of money. An increase in discount rate leads to decrease in
defined benefit obligation of the plan benefits and vice versa.
This assumption depends on the yields on the government
bonds and hence the valuation of liability is exposed to
fluctuations in the yields as at the valuation date.

Legislative risk: Legislative risk is the risk of increase in the
plan liabilities or reduction in the plan assets due to change
in the legislation/regulation. The government may amend the
Payment of Gratuity Act, 1972, thus requiring the companies to
pay higher benefits to the employees. This will directly affect
the present value of the defined benefit obligation and the
same will have to be recognized immediately in the year
when any such amendment is effective.

Financial instruments valued at carrying value

The respective carrying values of certain on-balance sheet
financial instruments approximated their fair value. These
financial instruments include cash in hand, balances with
Banks, financial institutions and money at call and short notice,

accrued interest receivable, acceptances, deposits payable
on demand, accrued interest payable, and certain other
assets and liabilities that are considered financial instruments.
Carrying values were assumed to be approximate fair values
for these financial instruments as they are short-term in
nature and their recorded amounts approximate fair values
or are receivable or payable on demand.

Financial instruments recorded at fair value

Investments

Securities classified as fair value through profit or loss, are
carried at fair value based on quoted market prices. The
Company records mutual funds at closing NAV.

Fair value of financial instruments carried at
amortised cost.

Loans and advances

The fair values of loans that do not reprice or mature
frequently are estimated using discounted cash flow models.
Loans and advances are fair valued basis the future expected
cash flows discounted at the lending rate.

Security deposits

Security deposits have been accounted at amortised cost
using SBI mClR rates.

Bonds and debentures

The fair value of bonds and debentures are discounted using
cash flow models. Bonds and debentures are fair valued basis
the future expected cash flows discounted at the interest rate.

The Company''s board of directors is the highest decision¬
making body within the organisation. The Board of directors
have overall responsibility for the establishment and oversight
of the Company''s risk management framework. The board of
directors has established the Risk Management Committee,
which is responsible for developing and monitoring the
Company''s risk management policies. The committee reports
regularly to the board of directors on its activities.

The Company''s risk management committee is established
to:

• Recommend changes to the risk Policy for approval by
the Audit Committee.

• Monitors and supervises the ECL process, identifies and
analyses the risks faced by the Company

• Authorize any overrides on the provisioning model of
assets to achieve provisioning objectives in line with the
approval policy

• Reviewing the adequacy of ECL training across the key
departments

• Establishing that the businesses comply with the risk
Policy

• Review and address concerns raised by the internal
Credit Committee, Statutory Auditors or the Internal
Auditors in any ECL exceptions

• Delegate such roles and responsibilities to the Company''s
internal Credit Committee to ensure that this policy is in
line with the board approved policy and the applicable
accounting standards.

The audit committee oversees the recommmendations
of the risk management committe and how management
monitors compliance with the Company''s risk management
policies and procedures, and reviews the adequacy of the
risk management framework in relation to the risks faced
by the Company. The audit committee ensures adequate
provisioning for the financial statements in line with the
approved policies and ensures that the scope of the External
Auditor covers adequate assurance in complying with the
Company''s approved provisioning and risk policy.

A. Credit risk

Credit risk arises from loans and advances, cash and cash
equivalents, investments carried at amortized cost and
deposits held by the Company.

Credit risk is the risk of financial loss to the Company if a
customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from
the Company''s receivables from customers and investments
in debt securities.

i) Credit risk management

The primary organizational groups forming part of the
Company risk governance are Board of Directors, Audit
Committee, Risk committee and Credit committee. In regards
to loans and advances of the Company, the credit risk is
managed in accordance with the ECL policy by monitoring of
credit risk basis the days past dues.

For the investments, the ECL policy provides that the Company
uses the external ratings for estimation of forward looking PDs
to estimate ECL.The Company reviews the creditworthiness
of these counterparties on an on-going basis.

The Company classifies its financial assets in following
category:

Stage 1

As soon as a financial instrument originates or is purchased, it
is categorized as Stage 1. This is applicable across all the loan
facilities, investments and bank balances. Stage 1 would include
all residual facilities, not impaired or, have not experienced a
significant increase in credit risk since initial recognition.

Stage 2 and stage 3

Loans

The following staging criteria based on Days Past Dues (DPDs)
fixed for Loan portfolio as per the Ind AS 109:

Stage 1 to Stage 2: More than 30 Days Past Due as criteria for
Stage 2 classification.

Stage 2 to Stage 3: More than 90 Days Past Due as criteria for
Stage 3 classification.

Investments and Balances with Bank

Following is the staging criteria for investments:

• For facilities with rating grade AAA to B, three notch
downgrades (without modifiers) shall be taken as stage 2.

• Any financial instrument with rating grade CCC or below
classified as Stage 2 at origination.

Investments in NCD, PTC and FD

The Company has invested in NCDs, PTCs and FDs having
Credit rating ranging from AAA to BBB-.

Measurement of Expected Credit Losses

The Company has applied a three-stage approach to
measure expected credit losses (ECL) on debt instruments
accounted for at amortised cost. Assets migrate through
following three stages based on the changes in credit quality
since initial recognition:

(a) Stage 1: 12-months ECL: For exposures where there is no
significant increase in credit risk since initial recognition
and that are not credit-impaired upon origination, the
portion of the lifetime ECL associated with the probability
of default events occurring within the next 12- months is
recognized.

(b) Stage 2: Lifetime ECL, not credit-impaired: For credit
exposures where there has been a significant increase

in credit risk since initial recognition but are not credit-
impaired, a lifetime ECL is recognized. Marginal PDs are
used to compute lifetime ECL.

(c) Stage 3: Lifetime ECL, credit-impaired: Financial assets
are assessed as credit impaired upon occurrence of one
or more events that have a detrimental impact on the
estimated future cash flows of that asset. For financial
assets that have become credit-impaired, a lifetime
ECL is recognized and interest revenue is calculated by
applying the effective interest rate to the amortised cost

At each reporting date, the Company assesses whether there
has been a significant increase in credit risk of its financial
assets since initial recognition by comparing the risk of default
occurring over the expected life of the asset. In determining
whether credit risk has increased significantly since initial
recognition, the Company uses information that is relevant
and available without undue cost or effort. This is based on
the historical default rates or delinquency status of account
across various internal rating grades, products or sectors.

The Company assesses whether the credit risk on a financial
asset has increased significantly on an individual and collective
basis. In determining whether the credit risk on a financial
asset has increased significantly, the Company considers the
change in the risk of a default occurring since initial recognition.
The default definition used for such assessment is consistent
with that used for internal credit risk management purposes.

The Company considers defaulted assets as those which are
contractually past due 90 days, other than those assets where
there is empirical evidence to the contrary. Financial assets
which are contractually past due 30 days are classified under
Stage 2 - life time ECL, not credit impaired, barring those
where there is empirical evidence to the contrary. An asset
can move into and out of the lifetime expected credit losses
category (Stage 2 and 3) based on a predefined pattern
obtained from the historical default rates or delinquency
status of account across various internal rating grades,
products or sectors. Credit exposures transition back from
stage 2 to stage 1 when the credit quality of the credit facility
shows significant improvement. Primarily, when factors that
previously triggered an exposure moving to Stage 2 no longer

meet, such exposures move back to Stage 1 and a 12-month
ECL measured instead of Lifetime ECL. Credit exposures may
transition from stage 3 to stage 2/stage 1, if the exposures
are current, no longer meet the definition of default/credit
impaired and if the factors that previously triggered an
exposure to move to stage 3 are no longer met.

The Company measures the amount of ECL on a financial
instrument in a way that reflects an unbiased and probability-
weighted amount. The Company considers its historical loss
experience and adjusts the same for current observable data.
The key inputs into the measurement of ECL are the probability
of default, loss given default and exposure at default. These
parameters are derived from the Company''s internally
developed statistical models and other historical data. In
addition, the Company has used reasonable and supportable
information on future economic conditions by using GDP as
suitable macroeconomic factors. Since incorporating these
forward looking information increases the judgment as to how
the changes in these macroeconomic factor will affect ECL,
the methodology and assumptions are reviewed regularly.

B. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities
that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as
far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed
conditions, without incurring unacceptable losses or risking damage to the Company''s reputation. Due to the dynamic nature of
the underlying businesses, Company''s treasury maintains flexibility in funding by maintaining availability under committed credit
lines.

6. The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources
or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall:

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

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

7. The Company has not received any funds from any other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding (whether recorded in writing or otherwise) that the Company shall:

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

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

8. The Compliance with number of layers prescribed under clause (87) of Section 2 of the Act read with Companies (Restriction
on number of layers) Rule, 2017 is not applicable as the Company is registered as non banking financial Company with
Reserve Bank India.

(iv) The value of unhedged foreign currency transaction as on March 31, 2025 is 0.86 lakhs which is on account of sitting fees
payable to the directors of the Company.

52. DISCLOSURE OF DETAILS AS REQUIRED BY ANNEX XI - DISCLOSURES IN FINANCIAL
STATEMENTS - NOTES TO ACCOUNTS OF NBFCS OF MASTER DIRECTIONS - RESERVE BANK OF
INDIA (NON-BANKING FINANCIAL COMPANY - SCALE BASED REGULATION) DIRECTIONS, 2023

53. Previous year figures have been regrouped/reclassified to make them comparable with those of current year.

As per our report of even date.

For Pijush Gupta & Co For and on behalf of the Board of Directors of

Chartered Accountants Niyogin Fintech Limited

Firm''s Registration No: 309015E CIN: L65910TN1988PLC131102

Pijush Kumar Gupta Amit Rajpal Tashwinder Singh

Partner Chairman & Non-Executive Director Managing Director & Chief Executive Officer

Membership No: 015139 DIN: 07557866 DIN: 06572282

Kolkata London Mumbai

15 May 2025 15 May 2025 15 May 2025

Abhishek Thakkar Neha Daruka

Chief Financial Officer Company Secretary

Membership No: A41425

Mumbai Mumbai

15 May 2025 15 May 2025

---

Mar 31, 2024

3.16 Provisions, contingent liabilities and contingent assets

A. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of past events, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. When the effect of the time value of money is material, the Company determines the level of provision by discounting the expected cash flows at a pre-tax rate reflecting the current rates specific to the liability. The expense relating to any provision is presented in the statement of profit and loss net of any reimbursement.

B. Contingent liability

A possible obligation that arises from past events and 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; present obligation that arises from past events where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or the amount of the obligation cannot be measured with sufficient reliability are disclosed as contingent liability and not provided for.

C. Contingent asset

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 Company. Contingent assets are neither recognised not disclosed in the financial statements.

3.17 Taxes

A. Current tax

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from, or paid to, the taxation authorities. Current tax is the amount of tax payable on the taxable income for the period as determined in accordance with the applicable tax rates and the provisions of the Income Tax Act, 1961.

Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or equity.

B. Deferred tax

Deferred tax is recognised 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 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 realised, 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 liabilities and assets are reviewed at the end of each reporting period.

A deferred tax asset is recognised for the carryforward of unused tax losses and accumulated depreciation to the extent that it is probable that future taxable profit will be available against which the unused tax losses and accumulated depreciation can be utilised.

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or equity.

Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off.

C. Goods and services tax paid on acquisition of assets or on incurring expenses

Expenses and assets are recognised net of the goods and services tax paid, except when the tax incurred on a purchase of assets or availing of services is not recoverable from the taxation authority, in which case, the tax paid is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable.

3.18 Earnings per share

Basic earnings per share (''EPS'') is computed by dividing the profit after tax (i.e. profit attributable to ordinary equity holders) by the weighted average number of equity shares outstanding during the year.

Diluted EPS is computed by dividing the profit after tax (i.e. profit attributable to ordinary equity holders) as adjusted for after-tax amount of dividends and

interest recognised in the period in respect of the dilutive potential ordinary shares and is adjusted for any other changes in income or expense that would result from the conversion of the dilutive potential ordinary shares, by the weighted average number of equity shares considered for deriving basic earnings per share as increased by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted for share splits/reverse share splits, right issue and bonus shares, as appropriate.

3.19 Dividends on ordinary shares

The Company recognises a liability to make cash or non-cash distributions to equity holders of the Company when the distribution is authorised and the distribution is no longer at the discretion of the Company. As per the Act, final dividend is authorised when it is approved by the shareholders and interim dividend is authorised when the it is approved by the Board of Directors of the Company. A corresponding amount is recognised directly in equity.

Non-cash distributions are measured at the fair value of the assets to be distributed with fair value remeasurement recognised directly in equity.

Upon distribution of non-cash assets, any difference between the carrying amount of the liability and the carrying amount of the assets distributed is recognised in the statement of profit and loss.

3.20 Cash flow statement

Cash flows are reported using the indirect method as prescribed under Ind AS 7, whereby profit before tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par value of '' 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend, if any in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.

During the Year ended 31 March 2024, the amount of per share dividend recognised as distributions to Equity Shareholders was Nil (31 March 2023 Nil).

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. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of equity shares held by the shareholder.

On August 23, 2023, the Board of Directors of the Company had approved the allotment of 1,75,36,011 (One Crore Seventy-Five Lakh Thirty-Six Thousand and Eleven only) warrants, each convertible into, or exchangeable for, 1 (one) fully paid-up equity share of the Company of face value of '' 10/- each ("Warrants”) at a price of '' 45.62/- (Rupees Forty-Five and Sixty-Two Paisa only) each (including the warrant subscription price and the warrant exercise price) including premium of '' 35.62/- (Rupees Thirty-Five and Sixty-Two Paisa only) each, payable in cash per warrant aggregating upto '' 79,99,92,821.82 (Rupees Seventy-Nine Crore Ninety-Nine Lakh Ninety-Two Thousand Eight Hundred Twenty-One and Eighty-Two paisa only), against the receipt of 25% of the issue price (i.e. '' 11.405 per warrant) aggregating to '' 19,99,98,205.46 (Ninety Crore Ninety-Nine Lakh Ninety-Eight Thousand Two Hundred Five and Forty-Six Paisa Only). The Warrants will be convertible in equal number of equity shares of face value of '' 10/- each, on receipt of balance 75% of the issue price (i.e. '' 34.215 per warrant) within a period of 18 months from the date allotment of Warrants. During the year ended on 31 March 2024, the Company has allotted 6,57,600 equity shares upon receipt of a balance amount of aggregating to '' 2,24,99,784/- (Rupees Two Crores Twenty-Four Lakhs Ninety-Nine Thousand Seven Hundred and Eighty-Four Only) from one of the allottee pursuant to the exercise of his rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018

Nature and purpose of the reserve

a) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes such as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013.

b) Retained earnings

Retained earnings represents the deficit in profit and loss account.

The Company recognises change on account of remeasurement of the net defined benefit liability/(asset) as part of retained earnings with separate disclosure, which comprises of actuarial gains and losses.

c) Employee stock option reserve

The share options outstanding account reserve is used to recognise the grant date fair value of options issued to employees under the Company''s ESOP 2018 plan. Please refer note 30 for the details of the plan.

d) Special Reserve under Section 45 IC of RBI Act, 1934

Special reserve is created as per the requirement of RBI at the rate of 20% of the profit after tax for the year.

e) General Reserve

Represents appropriation of funds from retained earnings.

f) Share warrants

This refers to the amount received against issue of share warrants but not converted to equity shares

31. EMPLOYEE SHARE BASED PAYMENTS

a) Employee stock option scheme (equity settled)

The Company approved the grant of equity share options under NFL-Employee Stock Option Plan 2018 in July 2018 (''Plan 2018''), Niyogin Employee Stock Option Plan 2019 in December 2019 (''Plan 2019''), Niyogin Employees Stock Option Plan 2020 in October 2020 (''Plan 2020'').

Under the terms of each of these Plans, the Company may issue to its employees and Directors, Equity Stock Options (''ESOPs'') each of which is convertible into one equity share. Under Plan 2019, the Company may issue to the employees and Directors of the subsidiaries, Equity Stock Options (''ESOPs'') each of which is convertible into one equity share. All the plans were framed in accordance with the SEBI Regulations as applicable at the time of approval as amended from time to time. The accounting for the stock options has been in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 to the extent applicable.

The vesting conditions applicable to the options are at the discretion of the Nomination and Remuneration Committee (''NRC'').These options are exercisable on vesting, for a period as set forth by the NRC at the time of the grant. The period in which the options may be exercised cannot exceed five years from the date of vesting period. During the years ended March 31, 2024, terms for tranch I of Plan 2020 was modified with respect to the excercise price being revised from '' 64.05 to '' 46.04.

The Company uses a fair value method to account for the compensation cost of stock options to employees of the Company.

b) The Company introduced ESOP scheme which covers eligible employees of the Company. The vesting of the options is from expiry of one year till five years as per Plan. Each Option entitles the holder thereof to apply for and be allotted/transferred one equity Share of the Company upon payment of the exercise price during the exercise period.

c) Fair value of options granted

The fair value at grant date is determined using the Black Scholes Model which takes into account the exercise price, the term of the option, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option.

The options are granted for no consideration and will vest upon the completion of service condition as specified in scheme in graded manner. Vested options are exercisable for the period of five years after the vesting.

32. CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

(A) Contingent liabilities

There are no contingent liabilities as at 31 March 2024:Nil (As at 31 March 2023: Nil).

(B) Commitments

I) Estimated amount of contracts remaining to be executed on capital account and not provided for as at 31 March 2024:Nil (As at 31 March 2023: Nil).

33. LEASES

Disclosures as required under Ind AS 116 - Leases

a) On adoption of Ind AS 116, the Company has recognized lease liabilities for all leases which were previously classified as operating leases under earlier GAAP. Ind AS 116 does not provide classification of leases into operating and finance lease for the lessee accounting. The lease liability is measured at present value of the lease payments. Lease liabilities is disclosed under the "Other financial liabilities”.

41. EMPLOYEE BENEFIT PLAN

Disclosure in respect of employee benefits under Ind AS 19 - Employee Benefit are as under:

(a) Defined contribution plan

The Company''s contribution to provident fund and employee state insurance scheme are considered as defined contribution plans. The Company''s contribution to provident fund aggregating '' 57.79 lakhs (31 March 2022: '' 53.29 lakhs) has been recognised in the statement of profit and loss under the head employee benefits expense.

(b) Defined benefit plan:

Gratuity

Financial assets not measured at fair value

The Company operates a defined benefit plan (the ''gratuity plan'') covering eligible employees. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member''s length of service and salary at retirement age/resignation date.

The defined benefit plans expose the Company to risks such as actuarial risk, liquidity risk, market risk, legislative risk. These are discussed as follows:

Actuarial risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse salary growth experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in obligation at a rate that is higher than expected.

Variability in mortality rates:

If actual mortality rates are higher than assumed mortality rate assumption than the gratuity benefits

will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of cash flow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.

Variability in withdrawal rates:

If actual withdrawal rates are higher than assumed withdrawal rate assumption then the gratuity benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at the resignation date.

Liquidity risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some of such employees resign/ retire from the Company, there can be strain on the cash flows.

Market risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An increase in discount rate leads to decrease in defined benefit obligation of the plan benefits and vice versa. This assumption depends on the yields on the government bonds and hence the valuation of liability is exposed to fluctuations in the yields as at the valuation date.

Legislative risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/regulation. The government may amend the Payment of Gratuity Act, 1972, thus requiring the companies to pay higher benefits to the employees. This will directly affect the present value of the defined benefit obligation and the same will have to be recognized immediately in the year when any such amendment is effective.

Level 1: Level 1 hierarchy includes financial instruments measured using unadjusted quoted prices in active markets that the Company has the ability to access for the identical assets or liabilities. A financial instrument is classified as a Level 1 measurement if it is listed on an exchange. This includes mutual funds that have quoted price. The mutual funds are valued at the closing NAV

Level 2: The fair value of financial instruments that are not traded in active markets is determined using valuation techniques which maximize the use of observable market data either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets, for substantially the full term of the financial instrument but do not qualify as Level 1 inputs. Fair value of loans and advances of the Company is measured using the last month''s lending rate. If all significant inputs required to fair value an instrument are observable the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based in observable market data, the instruments is included in level 3. The Company has measured contingent consideration based on Level 3.

Financial instruments valued at carrying value

The respective carrying values of certain on-balance sheet financial instruments approximated their fair value. These financial instruments include cash in hand, balances with Banks, financial institutions and money at call and short notice, accrued interest receivable, acceptances, deposits payable on demand, accrued interest payable, and certain other assets and liabilities that are considered financial instruments. Carrying values were assumed to be approximate fair values for these financial instruments as they are short-term in nature and their recorded amounts approximate fair values or are receivable or payable on demand.

Financial instruments recorded at fair value

Investment in debt securities.

Securities classified as fair value through profit or loss, are carried at fair value based on quoted market prices. The Company records mutual funds at closing NAV.

Fair value of financial instruments carried at amortised cost Loans and advances

The fair values of loans that do not reprice or mature frequently are estimated using discounted cash flow models. Loans and advances are fair valued basis the future expected cash flows discounted at the lending rate.

Security deposits

Security deposits have been accounted at amortised cost using SBI MCLR rates.

Bonds and debentures

The fair value of bonds and debentures are discounted using cash flow models. Bonds and debentures are fair valued basis the future expected cash flows discounted at the interest rate.

44. FINANCIAL RISK MANAGEMENT

The Company has operations in India which expose it to liquidity risk and credit risk. The risks are managed through a management established framework of identification and measurement of risk.

The Company''s Board of Directors is the highest decision- making body within the organisation. The Board of directors have overall responsibility for the establishment and oversight of the Company''s risk management framework. The Board of Directors has established the Risk Management Committee, which is responsible for developing and monitoring the Company''s risk management policies. The committee reports regularly to the Board of Directors on its activities.

The Company''s risk management committee is established to:

• Recommend changes to the risk Policy for approval by the Audit Committee.

• Monitors and supervises the ECL process, identifies and analyses the risks faced by the Company

• Authorize any overrides on the provisioning model of assets to achieve provisioning objectives in line with the approval policy

• Reviewing the adequacy of ECL training across the key departments

• Establishing that the businesses comply with the risk Policy

• Review and address concerns raised by the internal Credit Committee, Statutory Auditors or the Internal Auditors in any ECL exceptions

• Delegate such roles and responsibilities to the Company''s internal Credit Committee to ensure that this policy is in line with the board approved policy and the applicable accounting standards.

The audit committee oversees the recommmendations of the risk management committe and how management monitors compliance with the Company''s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee ensures adequate provisioning for the financial statements in line with the approved policies and ensures that the scope of the External Auditor covers adequate assurance in complying with the Company''s approved provisioning and risk policy.

A. Credit risk

Credit risk arises from loans and advances, cash and cash equivalents, investments carried at amortized cost and deposits held by the Company.

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers and investments in debt securities.

i) Credit risk management

The primary organizational groups forming part of the Company risk governance are Board of Directors, Audit Committee, Risk committee and Credit committee. In regards to loans and advances of the Company, the credit risk is managed in accordance with the ECL policy by monitoring of credit risk basis the days past dues.

For the investments, the ECL policy provides that the Company uses the external ratings for estimation of forward looking PDs to estimate ECL.The Company reviews the creditworthiness of these counterparties on an on-going basis.

The Company classifies its financial assets in following category:

Stage 1

As soon as a financial instrument originates or is purchased, it is categorized as Stage 1. This is applicable across all the loan facilities, investments and bank balances. Stage 1 would include all residual facilities, not impaired or, have not experienced a significant increase in credit risk since initial recognition.”

Stage 2 and stage 3 Loans

The following staging criteria based on Days Past Dues (DPDs) fixed for Loan portfolio as per the Ind AS 109:

Stage 1 to Stage 2: More than 30 Days Past Due as criteria for Stage 2 classification.

Stage 2 to Stage 3: More than 90 Days Past Due as criteria for Stage 3 classification.

Investments and Balances with Bank

Following is the staging criteria for investments:

• For facilities with rating grade AAA to B, three notch downgrades (without modifiers) shall be taken as stage 2.

• Any financial instrument with rating grade CCC or below classified as Stage 2 at origination.

Investments in NCD, PTC and FD

The Company had invested in NCDs, PTCs and FDs having Credit rating ranging from AAA to BBB-. Measurement of Expected Credit Losses

The Company has applied a three-stage approach to measure expected credit losses (ECL) on debt instruments accounted for at amortised cost. Assets migrate through following three stages based on the changes in credit quality since initial recognition:

(a) Stage 1: 12 months ECL: For exposures where there is no significant increase in credit risk since initial recognition and that are not credit-impaired upon origination, the portion of the lifetime ECL associated with the probability of default events occurring within the next 12 months is recognized.

(b) Stage 2: Lifetime ECL, not credit-impaired: For credit exposures where there has been a significant increase in credit risk since initial recognition but are not credit-impaired, a lifetime ECL is recognized. Marginal PDs are used to compute lifetime ECL.

(c) Stage 3: Lifetime ECL, credit-impaired: Financial assets are assessed as credit impaired upon occurrence of one or more events that have a detrimental impact on the estimated future cash flows of that asset. For financial assets that have become credit-impaired, a lifetime ECL is recognized and interest revenue is calculated by applying the effective interest rate to the amortised cost.

At each reporting date, the Company assesses whether there has been a significant increase in credit risk of its financial assets since initial recognition by comparing the risk of default occurring over the expected life of the asset. In determining whether credit risk has increased significantly since initial recognition, the Company uses information that is relevant and available without undue cost or effort. This is based on the historical default rates or delinquency status of account across various internal rating grades, products or sectors.

48. OTHER ADDITIONAL INFORMATION

1. Company has complied with the charge creation or satisfaction registration with ROC within the statutory year.

2. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year 2023-2024.

3. There is no proceeding has been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

4. The details is not applicable to the Company, related to transactions 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), unless there is immunity for disclosure under any scheme and shall also state whether the previously unrecorded income and related assets have been properly recorded in the books of account during the year.

5. The Company is not declared wilful defaulter by any bank or financial Institution or other lender.

6. The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

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

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

7 The Company has not received any funds from any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Company shall:

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

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

8. The Company has not defaulted in repayment of principal and interest during the year end and as at Balance sheet date 31^st March, 2024.

49. BUSINESS COMBINATION

During the previous financial year, Scheme of Amalgamation of Information Interface India Private Limited (“Transferor Company”) with the Company ("Transferee Company”) and their respective shareholders and creditors, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”), the Hon''ble National Company Law Tribunal, Chennai bench, (“NCLT”) had issued the Order on July 20, 2022, corrigendum to which was pronounced on July 27, 2022. The certified copy of the said Order was received on August 12, 2022.

The appointed date of the Scheme was April 1, 2022 and the Scheme has become effective on August 18, 2022 upon filing of the NCLT order by the Transferor and Transferee Companies with the Registrar of Companies, Chennai, Tamil Nadu.

Further, in accordance with the Scheme, upon the Scheme becoming effective and consequent to amalgamation, the Company was required to issue and allot 3,44,35,567 fully paid-up Equity Share of '' 10/- each to the equity shareholders of the Transferor Company in proportion of their holding in the Transferor Company as on Record Date i.e. September 2, 2022 and the issued, subscribed and paid-up share capital of the Transferee Company be cancelled by 3,44,35,567 Equity Shares of face value '' 10/- each, held by the Transferor Company. Accordingly, the Board of Directors through Circular Resolution dated September 8, 2022, had allotted 3,44,35,567 fully paid-up Equity Shares of '' 10/- each to the equity shareholders of the Transferor Company and listed at BSE Limited on October 14, 2022. Consequent to the above allotment and cancellation of Equity Shares, the issued, subscribed and paid-up capital of the Company remained the same.

The NCLT order effect had been considered for the year ended March 31, 2023 by transferring the carryings amount of all the assets and liabilities of the Transferor Company to the Transferee Company with effect from the Appointed Date of April 1, 2022.

52. Previous year figures have been regrouped/reclassified to make them comparable with those of current year.

As per our report of even date

F_or Pijush Gupta & Co For and on behalf of the Board of Directors of

Chartered Accountants N^gm Um^ed

Firm''s Registration No: 309015E ^{CIN: L65910TN1988PLC131102}

Sangeeta Gupta Amit Rajpal Tashwinder Singh

Partner Chairman & Managing Director &

Membership No: 064225 Non-Executive Director Chief Executive Officer

Mumbai DIN: 07557866 DIN: 06572282

14 May 2024 Mumbai Mumbai

Abhishek Thakkar Neha Daruka

Chief Financial Officer Company Secretary

Membership No: A41425 Mumbai Mumbai

14 May 2024

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Mar 31, 2018

1. BACKGROUND

Niyogin Fintech Limited (formerly known as M3 Global Finance limited) (the ‘Company’) is registered as a Non-Banking Financial Company (‘NBFC’) and holds a Certificate of Registration number B-13.02061 dated 30 December 2013 issued by Reserve Bank of India (‘RBI’). During the year, the Company has changed its name from M3 Global Finance Limited to Niyogin Fintech Limited. RBI granted a new Certificate of Registration dated 29 May 2017 pursuant to the change in of name. The Company is a non-deposit taking non-systemically important Non-Banking Financial Company (‘NBFC-ND-NSI’) and is in the business of providing loans to small enterprises.

TERMS/RIGHTS ATTACHED TO EQUITY SHARES

Equity shares : The Company has one class of equity shares having a face value of Rs. 10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

TERMS/RIGHTS ATTACHED TO PREFERENCE SHARES

Compulsorily Convertible Non-Cumulative Preference shares (“CCPS”) are convertible into one equity share of the Company of face value of Rs. 10 each. The CCPS holders have a right to receive dividend, prior to the equity shareholders.The dividends on the CCPS will be paid @ 0.001% on a non cummulative basis. In the event of liquidation, the preference shareholders will carry a preferential right over the holder of equity shares for payment of dividend and for payment of capital, in proportion to their shareholding. The CCPS holders enjoy such voting rights as available to them under the Companies Act, 2013. The CCPS shall be converted into equity shares at the option of the CCPS holders on or before 2 September 2018.

There is no holding company or ultimate holding company of the Company and hence details related to shares held by them,their subsidiaries or associates have not been provided.

2 POST-EMPLOYMENT BENEFIT PLANS

The disclosure required as per Accounting Standard-15 ‘Employee Benefits’ is as follows:

DEFINED CONTRIBUTION PLAN

The Company recognised a charge of Rs. 25.43 Lakh (Previous year Nil) towards provident fund contribution in the Statement of Profit and Loss during the current year.

DEFINED BENEFITS PLAN - GRATUITY

Reconciliation of Benefit Obligations and plan assets

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.The above information is certified by actuary.

Since the Company has not funded its gratuity liability there are no returns on the planned assets and hence the details related to changes in fair value of assets have not been given.

3 SEGMENT REPORTING

The Company is primarily engaged in the business of financing and it operates in a single geographical segment within India, and hence there is no reportable segment required to be given as per Accounting Standard - 17 ‘Segmental Reporting’.

4 OPERATING LEASES

The Company’s leasing arrangements are in respect of operating leases for tablets and leasehold pemises which are renewable on mutual consent at agreed terms.

The aggregate lease rentals payable are charged to the Statement of Profit and Loss.

5 UNHEDGED FOREIGN CURRENCY EXPOSURE

The Company has not entered into any derivative transactions during the financial year. The following foreign currency exposures have not been hedged by derivative instrument or otherwise at the balance sheet date. The un-hedged foreign currency exposure as on 31 March 2018 is given below:

The Company has not recognised net deferred tax assets as at 31 March 2018 in the absence of virtual certainity that sufficient taxable income will be available in future years against which such deferred tax assets can be realised. Deferred tax assets on timing differences which are expected to reverse in one or more subsequent periods have been recognised to the extent there is a deferred tax liabilty as at the balance sheet date.

6 Under the Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED’), the following disclosure is made based on the information and records available with the Company in respect of the Micro, Small and Medium Enterprises who have registered with the competent authorities

7 CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

(i) There are no contingent liabilities as at 31 March 2018 (Previous year: Nil).

(ii) commitments :

Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 11.40 lakh (March 31, 2017: Nil).

- Tangible assets: Nil (Previous year : Nil)

- Intangible assets: 11.40 lakhs (Previous year : Nil)

8 The Company has not accepted deposits within the meaning of ‘Public Deposits’ as defined in the prudential norms issued by the RBI.

9 In accordance with the RBI notification No. DNBS.PD.CC. No. 256 /03.10.042 / 2011-12 dated March 2, 2012, no fraud was detected and reported during the financial year ended 31 March 2018 (Previous year : Nil).

10 In accordance with the RBI notification No. DNBS.CC.PD.No.253/03.10.01/2011-12 dated December 26, 2011, the Company did not enter into any credit default swaps during the year ended 31 March 2018 (Previous year : Nil).

11 In accordance with the RBI notification No. DNBS.CC.PD.No.265/03.10.01/2011-12 dated March 21, 2012, the Company has not lent against gold jewellery during the year ended 31 March 2018 (Previous year : Nil).

12 ADDITIONAL NBFC DISCLOSURES

As per RBI Master Direction DNBR. PD. 007/03.10.119/2016-17 dated September 1, 2016, additional disclosures are required in the Annual Financial Statements as follows:

Notes:

1 As defined in Paragraph 2(1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2 Provisioning norms shall be applicable as prescribed in the as per RBI Master Direction DNBR. PD. 007/03.10.119/2016-17 dated September 1, 2016

3 All Accounting Standards prescribed in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government, are applicable including for valuation of investments and other assets and including assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/NAV in respect of unquoted investments are disclosed irrespective of whether they are classified as long term or current in point (4) above.

4 Excludes loan against financial assets.

13 1. The disclosures in the financial statements regarding holdings as well as dealings in specified bank notes during the period from 8 November 2016 to 30 December 2016 have not been made since they do not pertain to the financial year ended 31 March 2018.

2 During the year ended 31 March 2017, the Company had specified bank notes or other denomination notes as defined in the MCA notification G.S.R. 308(E) dated 31 March 2017 on the details of Specified Bank Notes (SBN) held and transaction during the period from 8 November 2016 to 30 December 2016. The denomination wise SBNs and other notes as per the notification is given below:

14 Previous year’s figures have been regrouped / reclassified wherever necessary to correspond with the current year’s classification / disclosure.

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Mar 31, 2014

1 Capital commitment not provided for amount Rs. Nil

2 Contingent liabilities not provided for : Rs. Nil

3 There are no Micro and Small Enterprises, to whom the company owes dues, which are outstanding for more than 45 days as at 31st March'' 2014.

This information as required to be disclosed under the Micro, small and Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been identified on the basis of Information available with the company.

i) In view of the depreciation deferred tax Liability as at the year end is recognized as under.

4 Segment Reporting :

The company engaged in investment activity and there for ,there is only one reportable segment in accordance with Accounting Standards 17 are given as per Annexure A.

Accounting Standards 17.

5 There are no Related Parties pursuant to Accounting Standard 18 issued by the Institute of Chartered Accountants of India :

6 Figures shown in brackets are of corresponding figures of previous year.

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Mar 31, 2013

Not Available.

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Mar 31, 2011

1. Previous year''s figures are regrouped/recasted wherever necessary so as to make them comparable with current year''s figures.

2. The Company does not have any debtors, Loans and advances which can be considered doubtful and hence, no provision for the same is required.

3. Payments to Auditors: 31.03.2011 31.03.2010

i) Audit fees 7500 7500

4. The company does not have any Deferred Tax Assets and or liability as at the end of the year.

5. In the opinion of Board of Directors, the current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business. All known liabilities including provisions have been provided for in the accounts

6. Information with regards to other matters specified in cIause-3 (Except 3(0,4 4(A), 4(C) and 4(d) of part VI to the Companies Act. 1956 are given hereunder

7. Disclosure as required in terms or Paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.