అకౌంట్స్ గమనికలుSG Finserve Ltd.

Mar 31, 2026

3.12 Provisions, contingent liabilities and contingent

assets:

Provisions are recognised only when:

i. there is a present obligation (legal or constructive)
as a result of a past event; and

ii. it is probable that an outflow of resources
embodying economic benefits will be required to
settle the obligation; and

iii. a reliable estimate can be made of the amount of the
obligation

Provisions are measured at the present value of
management''s best estimate of the expenditure
required to settle the present obligation at the end of the
reporting period.

Contingent liabilities are disclosed when there is a
possible obligation arising from past events, the existence
of which will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not
wholly within the control of the Company or a present
obligation that arises from past events where it is either
not probable that an outflow of resources will be required
to settle or a reliable estimate of the amount cannot
be made.

Contingent assets are not recognised in the financial
statements. Contingent assets are disclosed where an
inflow of economic benefits is probable. Provisions,
contingent liabilities and contingent assets are reviewed
at each balance sheet date.

3.13 Cash flow statement:

Cash flows are reported using the indirect method,
whereby profit/(loss) before tax for the year, 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. Cash flows in foreign
currencies are accounted at the actual rates of exchange
prevailing at the dates of the transactions.

3.14 Earnings per share:

Basic earnings per share is computed by dividing the
profit / (loss) after tax by the weighted average number
of equity shares outstanding during the year. Diluted
earnings per share is computed by dividing the profit /
(loss) after tax as adjusted for dividend, interest and other
charges to expense or income relating to the dilutive
potential equity shares, by the weighted average number
of equity shares considered for deriving basic earnings
per share and the weighted average number of equity
shares which could have been issued on the conversion
of all dilutive potential equity shares.

3.15 Recent accounting pronouncements:

Ministry of Corporate Affairs ("MCA") notifies new
standard or amendment to the existing standard under
Companies (Indian Accounting Standard) Rules as issued
from time to time. As on March 31,2026, there is no new
standard notified or amendment to any of the existing
standard under Companies(Indian Accounting Standard)
Rules, 2015.

1. Non-Convertible Debentures issued under private placement are secured by way of pari passu floating charge over its
current assets, providing a minimum security cover of 1.25x of the outstanding Debenture amount; and an unconditional,
irrevocable corporate guarantee from M/s S Gupta Holding Private Limited. Current assets include all present and future
inventories and receivables that are not NPAs under applicable RBI regulations for NBFCs.

2. The funds raised from issuance of NCDs were fully utilised for the purpose for which funds were obtained.

3. The Company has not defaulted in the repayment of debt securities and interest thereon.

4. The Company has, at all times, for the secured NCDs, maintained sufficient security cover as stated in the respective
information memorandum towards the principal amount, interest accrued thereon, and such other sums as
mentioned therein.

5. The amount disclosed above represent the principal outstanding as at March 31,2026 and as at March 31,2025.

6. The quarterly returns or statements filled by the company with banks or financials institutions or trustees are in agreement
with books of accounts.

1. The funds borrowed from banks, financial institutions or others have been utilised for the purpose for which funds
were taken.

2. The Company has not defaulted in the repayment of principal or interest on its term loans, cash credit facilities, bank
overdraft, or working capital demand loans.

3. The amount disclosed above represent the principal outstanding as at March 31,2026 and as at March 31,2025.

4. The company has not been declared as willful defaulter by any bank or financial institution (as defined under the
Companies Act, 2013) or consortium thereof in accordance with the guidelines on willful defaulters issued by the RBI.

5. All borrowing facilities (other than debt securities), including term loans, overdraft, cash credit, and working capital
demand loans, have been guaranteed by a director [i.e. by way of personal guarantee of Mr. Rohan Gupta (Non-Executive
Director)], except for a overdraft facility from the bank which is secured by fixed deposits only.

6. During the year, rate of interest for term loans facilities ranges from 7.70% to 8.70% p.a. (March 31,2025: at 10.00% p.a.)

7. During the year, rate of interest for cash credit, overdraft and working capital demand loans facilities ranges from 7.30%
to 8.65% p.a.(March 31,2025: from 8.65% to 8.95% p.a.)

8. The quarterly returns or statements filled by the company with banks or financials institutions or trustees are in
agreement with books of accounts.

(ii) Nature and purpose of other equity:-

(a) Securities premium : Securities premium is used to record the premium on issue of shares. It can be utilised only for
limited purpose in accordance with the provisions of the Companies Act, 2013.

(b) Retained earnings : It represents total of all profits retained since Company''s inception. Retained earnings are credited
with current year profits, reduced by losses, if any, dividend payouts, transfers to General reserve or any such other
appropriations to specific reserves. It also includes impact of remeasurement of defined benefit plans.

(c) Statutory reserve (in terms of Section 45-IC of the Reserve Bank of India Act, 1934) : It represents the Reserve Fund
created under section 45-IC of the Reserve Bank of India Act, 1934. The Company is required to transfer a sum not less than
twenty percent of its net profit every year as disclosed in the statement of profit and loss. No appropriation is permitted
except for the purpose as may be specified by the Reserve Bank if India from time to time.

(d) Employee stock options outstanding account : It is created as required by Ind AS 102 “Share Based Payments" on the
Employee Stock Option Scheme operated by the Company.

(e) Impairment Reserve : It represents an appropriation made from the net profit or loss after tax. It is created when the
expected credit loss (ECL) provision recognized under Ind AS 109 is lower than the prudential floor (i.e., the IRACP norms as
prescribed by the Reserve Bank of India).

(f) Money received against share warrants : It represents application money received from subscriber of warrants, against
which shares are yet to be allotted.

18(c) Employee Share Based Payments

The Company has established employees stock options plan, 2022 (ESOP Scheme-Moongipa Securities Limited Employee
Stock Option Scheme-2022) for its employees by passing a resolution through postal ballot e-voting dated November
27, 2022. The employee stock option plan is designed to provide incentives to the employees of the Group to deliver
long-term returns and is an equity settled plan. The ESOP Scheme is administered by the Nomination and Remuneration
committee. Participation in the plan is at the Nomination and Remuneration committee''s discretion and no individual has
a contractual right to participate in the plan or to receive any guaranteed benefits. Options granted under ESOP scheme
would vest in not less than one year and not more than five years from the date of grant of the options. The Nomination
and remuneration committee of the Company has approved multiple grants with related vesting conditions. Vesting
of the options would be subject to continuous employment with the Company and hence the options would vest with
passage of time. In addition to this, the Nomination and remuneration committee may also specify certain performance
parameters subject to which the options would vest. Such options would vest when the performance parameters are met.
Once vested, the options remain exercisable for a period of maximum five year. Options granted under the plan are for no
consideration and carry no dividend or voting rights. On exercise, each option is convertible into one equity share.

During the year, the Company adopted the SG Finserve Employee Stock Option Scheme, 2026 (ESOP 2026),

approved by shareholders, to enable employee participation in its growth and to attract and retain talent. The Scheme
is formulated and amended in line with SEBI guidelines, with employee eligibility and grant size determined by the
Nomination & Remuneration Committee based on factors such as role, performance, grade, tenure, and criticality.
During the year, the Scheme was approved via special resolution through postal ballot in accordance with the Companies
Act, 2013 and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. It allows grant of stock options
to eligible employees and directors of the Company and its group entities, exercisable into equity shares in one or more
tranches, subject to applicable laws.

(ii) Fair Value of the options granted during the year-

During the current year Nomination & remuneration committee has approved one grant. Following are the details of
assumptions under individual grant, related vesting conditions and fair valuation model used based on the nature of vesting.

The Company has granted options under ESOP scheme based on following criteria and related assumptions

C. Provident fund

The Company makes contribution to statutory provident fund in accordance with The Employees'' Provident Funds and
Miscellaneous Provisions Act, 1952. This is a post employment benefit and in the nature of defined contribution plan.
Contribution made by the Company during the year is H58.57 Lakhs (previous year H41.66 Lakhs).

There are issues relating to the application of the Honorable Supreme Court''s (SC) judgement dated 28 February, 2019 on
Provident Fund. The management is examining these issues to identify the potential effects, if any, on the compliance with
the Employees'' Provident Fund and Miscellaneous Provisions Act, 1952.

31 Related party disclosures

Related party disclosures as required by the Indian Accounting Standard 24- Related Party Disclosures, notified under the
Companies Act, 2013 are given below:

33 Segment reporting

There is no separate reportable segment as per the Ind AS 108 “Operating Segments" specified under Section 133 of the
Act. The Company is engaged in the business of financing which as per the Ind AS 108, is considered to constitute a single
reportable primary segment which has similar risks and rewards for the purpose of the aforesaid standard. The Company
operates in a single geographical segment, i.e. domestic (within Indian), hence there are no reportable secondary segments.

34 Financial Risk Management

The company is exposed to various risk in relation to financial instruments. The company is exposed to market risk, credit risk
and liquidity risk. The company risk activities are governed by appropriated policies and procedures and that financial risk
are identified, measured and managed in accordance with the companies policies and risk objectives, which are summarized
below:-

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because of
changes in market prices. Market risk comprises Interest rate risk and foreign currency risk. The company does not
have any foreign currency risk since the company does not have any foreign currency exposure as on reporting date.
The company uses a mix of cash and borrowings to manage the liquidity and fund requirement of its day-to-day operations.
Further, certain interest bearing liabilities carry variable interest rate.

(b) Credit Risk

Credit risk is the risk of financial loss if a customer or counterparty fails to meet an obligation under a contract. Lending
activities account for most of the Company''s credit risk. Other sources of credit risk also exist in loans and transaction
settlements. Credit risk is measured as the amount that could be lost if a customer or counterparty fails to make repayments.
The maximum exposure to credit risk in the case of all the financial instruments is restricted to their respective carrying
amount. Credit Risk is monitored through stringent credit appraisal, counter party limits and internal risk ranges of
the borrowers. Exposure to credit risk is managed through regular analysis of the ability of all the customers and
counterparties to meet interest and capital repayment obligations and by changing lending limits where appropriate.
Company primarily offers loans secured by immovable property. In order to mitigate credit risk, the company also seeks
collateral appropriate to the product segment. Other means of mitigating credit risk that the company uses are guarantees.
The most common types of collateral the company receives, measured by collateral value, are mortgages on financial assets
in the form of real estate.

(ii) Credit Quality Analysis

An impairment analysis is performed at each reporting date based on the facts and circumstances existing on that date
to identify expected losses on account of time value of money and credit risk. The credit quality of Loans and advances
measured at amortized cost is primarily assessed by the Days Past Due (DPD) status.

Inputs, assumptions and techniques used for estimating impairment

In assessing the impairment of financial assets under the expected credit loss model, the Company defines default when a
loan obligation is overdue for more than 90 days.

Assessment of significant increase in credit risk

When determining whether the risk of default has increased significantly since initial recognition, the Company considers
the DPD status of the loans. Credit risk is deemed to have increased significantly when an asset is more than 30 days past due
(DPD).

Calculation of expected credit losses

ECL provisioning has been computed taking guidance from the RBI''s Internal Ratings Based approach.
The Company has followed simplified approach of ECL provisioning on loans and advances.

Applicable provisions for NBFCs covered under Ind AS: RBI vide notification no. RBI/DOR/2025-26/359 DOR.ACC.REC.
No.278/21.04.018/2025-26 dated November 28, 2025, provides that NBFCs which are required to comply with Indian
Accounting Standards (Ind AS) shall, as hitherto, continue to be guided by the guidelines duly approved by their board and
as per the ICAI guidelines for recognition of the impairments.

Policy for Write off

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no reasonable
expectation of recovering the asset in its entirety or a portion thereof. This is generally the case when the Company determines
that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts

subject to the write-off and when there is no reasonable expectation of recovery from the collaterals held. However, financial
assets that are written-off could still be subject to enforcement activities in order to comply with the Company''s procedures
for recovery of amounts due.

(iv) Collateral and other credit enhancements

Company would generally have its creditexposures backed by securities, eitherprimaryorcollateral. Lending PolicyoftheCompany
prescribes Asset cover norms and collateral guidelines for its various product offering.The amount and type of collateral required
depends on an assessment of the credit risk of the counterparty and product offered. Company grants loans against collateral
of immovable property (Land, under construction projects, Ready property) including commercial and residential properties.
As collateral is a source of mitigating credit risk, assessment of the condition of the securities and their value is undertaken on
a regular basis. There were no significant changes in the collateral policy of the company during the Financial Year 2025-2026.

(c) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulties in meeting the obligations associated with its financial
liabilities that are selected by delivering cash or other financial assets. 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. The Company
has in place an Asset-Liability Management Committee (ALCO) which functions as the operational unit for managing the
Balance Sheet within the performance and risk parameters laid down by the Board and Risk Committee of the Board. ALCO
reviews Asset Liability strategy and Balance Sheet management in relation to asset and liability profile. ALCO ensures that the
objectives of liquidity management are met by monitoring the gaps in the various time buckets, deciding on the source and
mix of liabilities, setting the maturity profile of the incremental assets and liabilities etc.

Key principles adopted in the Company''s approach to managing liquidity risk include:

a) Monitoring the Company''s liquidity position on a regular basis, using a combination of contractual and behavioral
modelling of balance sheet and cash flow information.

b) Maintaining a high quality liquid asset portfolio or maintaining undrawn bank lines.

c) Operating a prudent funding strategy which ensures appropriate diversification and limits maturity concentrations.

The Company''s principal sources of liquidity are cash and cash equivalents, undrawn cash credit & overdraft facilities from
Banks, liquid asset portfolio and the cash flow that is generated from operation.

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and
undiscounted, and include interest accrued till the reporting date.

37.03 Derivatives:

(i) Forward Rate Agreement (FRA) / Interest Rate Swap (IRS)

The Company has not entered into any forward rate agreement/interest rate swap transactions during the current and
previous financial year.

(ii) Exchange traded interest rate (IR) derivatives

The Company has not entered into any Exchange traded interest rate derivative transactions during the currect and
previous financial year.

(iii) Disclosures on risk exposure in derivatives

Since, the Company has not entered into any derivative transactions, hence reporting on the same in not applicable.

37.04 Exposures:

(i) Details of financing of parent company products:

The Company does not have any parent company hence, this clause is not applicable.

(ii) Details of Single Borrower Limit (SGL) / Group Borrower Limit (GBL) exceeded by the NBFC:

Pursuant to the Directions - Reserve Bank of India (Non-Banking Financial Companies - Concentration Risk Management)
Directions, 2025

37.05 Corporate Governance (refer Corporate Governance section in the annual report)

37.06 Breach of covenant:

There is no breach of covenant with terms of any borrowing arrangements during the year.

37.07 Divergence in Asset Classification and Provisioning

An NBFC shall disclose details of divergence as per the table given below, if either or both of the following conditions are
satisfied:

(a) The additional provisioning requirements assessed by the RBI exceeds 5 percent of the reported profits before tax and
impairment loss on financial instruments for the reference period.

(b) The additional Gross NPAs identified by the RBI exceeds 5 percent of the reported Gross NPAs for the reference period.

37.17 Movement of NPAs:

The company has zero NPA as at the financial year ended March 31, 2026 as well as in the previous year ended
March 31,2025.

37.18 Overseas Assets (for those with Joint Ventures and Subsidiaries abroad):

The Company does not have any joint ventures and subsidiaries abroad as at March 31, 2026 as well as in the previous year
ended March 31, 2025.

37.19 Off-balance sheet SPVs sponsored (which are required to be consolidated as per accounting norms):

There are no off-balance sheet SPVs sponsored by the Company which are required to be consolidated as per accounting
norms.

37.20 Off-balance sheet exposures and structured products:

There are no off-balance sheet exposures and structured products issued by the Company during the current year as well as
previous year.

Note:

1. The disclosures as above shall be based on the sector-wise and industry-wise bank credit (SIBC) return submitted by
scheduled commercial banks to the Reserve Bank and published by Reserve Bank as ''Sectoral Deployment of Bank Credit''

2. In the disclosures as above, if within a sector, exposure to a specific sub-sector/industry is more than 10 per cent of Tier I
Capital of a NBFC, the same shall be disclosed separately within that sector. Further, within a sector, if exposure to specific
sub-sector/industry is less than 10 per cent of Tier I Capital, such exposures shall be clubbed and disclosed as “Others"
within that sector.

3. The above computation is based on management''s estimates, business activities of the borrowers, assumptions and
adjustments which have been relied upon by the auditors.

(vi) Institutional set-up for liquidity risk management

The company''s Board of Directors has overall responsibility of management of liquidity risk. The Board decides the strategic

policies and procedures of the Company to manage liquidity risk in accordance with approved risk tolerance limits.

Asset Liability Committee (ALCO) of the Company, instituted by Board of Directors, is responsible for ensuring adherence to

the risk tolerance limits as well as implementing the liquidity risk management strategy of the Company.

Note:

1 Total Liabilities has been computed as sum of all liabilities (Balance Sheet figure) less Equity including Reserves/Surplus.

2 Public Funds includes funds raised either directly or indirectly through public deposits, inter-corporate deposits, bank
finance and all funds received from outside sources such as funds raised by issue of Commercial Papers, debentures
etc. but excludes funds raised by issue of instruments compulsorily convertible into equity shares within a period not
exceeding 5 years from the date of issue.

3 Other short-term liabilities includes short-term borrowing upto 12 months excluding commercial paper, trade payables,
short-term financial and non-financial liabilities.

4 Total Borrowings includes outstanding principal balances (i.e. excluding interest accrued thereon) of all types of
borrowings either debt securities or borrowings (other than debt securities) .

b. Disclosure of Policy on dealing with Related Parties Transactions

The Company has made a list of related parties after considering the requirements and based on the annual declaration received from
individuals like directors. The directors are also required to inform the Company of any changes to such declaration during the year.

All related party transactions are reported and referred for approval to the Audit Committee as per section 177 of the Companies Act, 2013.
The Audit committee may grant general approval for repetitive related party transactions. Such general approval will be valid for a period of
one year and a fresh approval shall be taken for every financial year.

As per section 188 of the Act, the consent of the Board/Shareholders'' approval is required, by a special resolution in a general meeting, for
entering into the specified transactions with a related party, if they are not in ordinary course of business of the Company or at arm''s length
and exceeds the threshold limits as specified in the Act."

41 Long-term contracts

The company did not have any long-term contracts including derivative contracts for which any provision is required for the
foreseeable losses.

42 Additional Regulatory Information (to the extent applicable and reportable)

(i) Title deeds of Immovable Properties not held in name of the Company

The company does not hold any Immovable Properties at any time during the financial year ending March 31, 2026 and
March 31,2025. hence the same is not applicable.

(ii) Details of Benami Property held:

No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules made thereunder, as at March 31,2026 and March 31,2025.

(iii) Wilful Defaulter:

The Company is not declared wilful defaulter by any bank or financial institution or other lender, in accordance with the
guidelines on wilful defaulters issued by the Reserve Bank of India during the year ended March 31,2025 and March 31,2024.

(iv) Relationship with Struck off Companies

The Company does not have any transactions with the struck off companies under section 248 of the Companies Act, 2013 or
section 560 of the Companies Act, 1956 during the year ended March 31,2026 and March 31,2025.

(iv) Compliance with number of layers of companies

The Company is in compliance with number of layers of companies, as prescribed under clause (87) of Section 2 of the Act
read with the Companies (Restriction on number of Layers) Rules, 2017

(v) Registration of charges or satisfaction with Registrar of Companies (ROC)

The Company does not have any charges pending for registration with the Registrar of Companies beyond the statutory
period.

(vi) Utilisation of Borrowed funds and share premium:

(a) The Company has not advanced or loaned or invested (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,

- 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

- provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries."

(b) The Company has not received any fund 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;

(a) 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

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

(vi) Analytical Ratios:

(a) Capital to risk-weighted assets ratio (CRAR) Refer Note no. 37.01

(b) Tier I CRAR Refer Note no. 37.01

(c) Tier II CRAR Refer Note no. 37.01

(d) Liquidity Coverage Ratio Not Applicable

43 Disclosure in relation to Undisclosed Income

There have been no transactions which have not been recorded in the books of accounts, that have been surrendered or
disclosed as income during the year ended March 31,2026 and March 31,2025 in tax assessments under the Income tax act,
1961. There have been no previously unrecorded income and related assets which were to be properly recorded in the books
of accounts during the year ended March 31,2026. and March 31,2025.

44 Details of Crypto currency or Virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the year ended March 31,2026 and
March 31, 2025.

45 The Company has not granted any loans or advances in the nature of loans to promoters, Directors, KMPs and the related
parties (as defined under the Companies Act, 2013), either severally or jointly with any other person that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

Disclosure pertaining to stock statement filed with banks or financial institutions- The Company has availed of the
facilities (secured borrowings) from the lenders inter alia on the condition that, the Company shall provide or create or
arrange to provide or have created, security interest by way of a first pari passu charge of the loans. Security interest is created
by charge creation towards security and debenture trustee on behalf of security holders and debenture holders.

46 The Company has used accounting softwares for maintaining its books of account for the financial year ended March 31,
2026, which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all
relevant transactions recorded in the software. Further, the audit trail has been preserved by the Company as per the statutory
requirements for record retention.

47 Amount less than C500 have been shown at actuals against respective line items statutorily required to be disclosed.

48 Previous year figures have been regrouped/ reclassified, wherever considered necessary, to conform to current year
classification/disclosure.

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Mar 31, 2025

l) Provision and contingencies

The Company makes a provision when there is a present
obligation as a result of a past event, where the outflow of
economic resources is probable and a reliable estimate of
the amount of the obligation can be made.

A disclosure is made for a contingent liability when there is a:

- possible obligation, the existence of which will be
confirmed by the occurrence/non-occurrence of one
or more uncertain events, not fully within the control
of the Company;

- present obligation, where it is not probable that an
outflow of resources embodying economic benefits
will be required to settle the obligation; and

- present obligation, where a reliable estimate cannot
be made.

When there is a present obligation in respect of which the
likelihood of outflow of resources is remote, no provision or
disclosure is made.

m) Cash and cash equivalent

Cash and cash equivalents comprise cash at bank and in
hand and short-term bank deposits with an original maturity
of three months or less.

n) Earnings per share

Basic earnings per share are calculated by dividing the net
profit or loss for the year attributable to equity shareholders
by the weighted average number of equity shares
outstanding during the year.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity

shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects of
all potential dilutive equity shares.

o) Recent accounting pronouncements

Ministry of Corporate Affairs("MCA") notifies new
standard or amendment to the existing standard under
Companies(Indian Accounting Standard Rules as issued from
time to time. As on March 31,2025, there is no new standard
notified or amendment to any of the existing standard under
Companies(Indian Accounting Standard) Rules, 2015.

p) Impairment of financial instruments

The Company uses ''Expected Credit Loss'' (ECL) model, for
evaluating impairment of financial assets measured at
amortized cost or FVTOCI, except for investments in equity
instruments. Company follows a ''three-stage'' model for
impairment based on changes in credit quality since initial
recognition.

Stage 1 (Performing Assets) - includes financial assets that
have not had a significant increase in credit risk since initial
recognition or that have low credit risk at the reporting date.
For these assets, 12-month ECL is recognized and interest
income is calculated on the gross carrying amount of the
assets (that is, without deduction for credit allowance).
12-month ECL are the portion of ECL that results from
default events on a financial instrument that are possible
within 12 months after the reporting date, if the credit risk
has not significantly increased since initial recognition.

Stage 2 (Underperforming Assets with significant
increase in credit risk since initial recognition) - includes
financial instruments that have had a significant increase
in credit risk since initial recognition (unless they have
low credit risk at the reporting date) but that do not have
objective evidence of impairment. For these assets, lifetime
ECL are recognized, but interest income is calculated on the
gross carrying amount of the assets. Lifetime ECL are the
expected credit losses that result from all possible default
events over the expected life of the instrument.

Stage 3 (Non-performing or Credit-impaired assets)-

includes financial assets that have objective evidence of
impairment at the reporting date. For these assets, lifetime
ECL is recognized.

Nature and purpose of reserves

(i) Securities premium : Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance
with the provisions of the Indian Companies Act, 2013 ("the Companies Act").

(ii) Share Warrants : i it is a document issued by the company under its common seal, stating that its bearer is entitled to the shares or
stock specified therein. Share warrants are negotiable instruments. They are transferable by mere delivery without registration
of transfer.

(iii) Retained earnings : It represents unallocated/un-distributed profits of the Company. The amount that can be distributed as
dividend by the Company as dividends to its equity shareholders is determined based on the separate financial statements of the
Company and also considering the requirements of the Companies Act, 2013. Thus amount reported above are not distributable
in entirety.

(iv) Reserve fund in terms of section 45-IC(1) of the Reserve Bank of India Act, 1934 : Reserve fund is created as per the terms of
section 45-IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve.

(v) ESOP Reserve : ESOP stands for employee stock ownership plan. An ESOP grants company stock to employees, often based on
the duration of their employment.

19(C) EMPLOYEE SHARE BASED PAYMENTS

The Company has established employees stock options plan, 2022 (ESOP Scheme-Moongipa Securities Limited Employee Stock
Option Scheme-2022) for its employees by passing a resolution through postal ballot e-voting dated November 27, 2022. The
employee stock option plan is designed to provide incentives to the employees of the Group to deliver long-term returns and is
an equity settled plan. The ESOP Scheme is administered by the Nomination and Remuneration committee. Participation in the

plan is at the Nomination and Remuneration committee''s discretion and no individual has a contractual right to participate in the
plan or to receive any guaranteed benefits. Options granted under ESOP scheme would vest in not less than one year and not
more than five years from the date of grant of the options. The Nomination and remuneration committee of the Company has
approved multiple grants with related vesting conditions. Vesting of the options would be subject to continuous employment
with the Company and hence the options would vest with passage of time. In addition to this, the Nomination and remuneration
committee may also specify certain performance parameters subject to which the options would vest. Such options would vest
when the performance parameters are met.

Once vested, the options remain exercisable for a period of maximum five year. Options granted under the plan are for no
consideration and carry no dividend or voting rights. On exercise, each option is convertible into one equity share.

b) Fair Value of the options granted during the year-

During the current year Nomination & remuneration committee approved one grant which was surrendered by the allottees
during the financial year itself.

The Company has granted options under ESOP scheme based on following criteria and related assumptions
Vesting criteria - Continuous employment with the company.

Fair Valuation Method- Black Scholes options Pricing Model

The above information regarding Micro, small and medium enterprises has been determined to the extent such parties have been
identified on the basis of information available with the Company.

Micro, Small and Medium Enterprises Development

The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends
that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum
Number as allocated after filing of the Memorandum. Based on the information available with the management, as at 31 March 2025,
no dues were outstanding to micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development
Act, 2006. Further, the Company has not received any claim for interest from any supplier under the said Act till 31st March 2025.

38 FINANCIAL RISK MANAGEMENT

The company is exposed to various risk in relation to financial instruments. The company is exposed to market risk, credit risk
and liquidity risk. The company risk activities are governed by appropriated policies and procedures and that financial risk
are identified, measured and managed in accordance with the companies policies and risk objectives, which are summarized
below:-

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because of changes in market
prices. Market risk comprises Interest rate risk and foreign currency risk. The company does not have any foreign currency risk
since the company does not have any foreign currency exposure as on reporting date.

The company uses a mix of cash and borrowings to manage the liquidity and fund requirement of its day-to-day operations.
Further, certain interest bearing liabilities carry variable interest rate.

b) Credit Risk

Credit risk is the risk of financial loss if a customer or counterparty fails to meet an obligation under a contract. Lending activities
account for most of the Company''s credit risk. Other sources of credit risk also exist in loans and transaction settlements. Credit
risk is measured as the amount that could be lost if a customer or counterparty fails to make repayments. The maximum exposure
to credit risk in the case of all the financial instruments is restricted to their respective carrying amount. Credit Risk is monitored
through stringent credit appraisal, counter party limits and internal risk ranges of the borrowers. Exposure to credit risk is managed
through regular analysis of the ability of all the customers and counterparties to meet interest and capital repayment obligations
and by changing lending limits where appropriate.

Company primarily offers loans secured by immovable property. In order to mitigate credit risk, the company also seeks collateral
appropriate to the product segment. Other means of mitigating credit risk that the company uses are guarantees. The most
common types of collateral the company receives, measured by collateral value, are mortgages on financial assets in the form of
real estate. The company carries a Standard Assets Provision at 0.40 % on loans and advances.

ii) Credit Quality Analysis

An impairment analysis is performed at each reporting date based on the facts and circumstances existing on that date to
identify expected losses on account of time value of money and credit risk. The credit quality of Loans and advances measured
at amortized cost is primarily assessed by the Days Past Due (DPD) status.

Inputs, assumptions and techniques used for estimating impairment

In assessing the impairment of financial assets under the expected credit loss model, the Company defines default when a loan
obligation is overdue for more than 90 days.

Assessment of significant increase in credit risk

When determining whether the risk of default has increased significantly since initial recognition, the Company considers the DPD
status of the loans. Credit risk is deemed to have increased significantly when an asset is more than 30 days past due (DPD)

Calculation of expected credit losses

ECL provisioning has been computed taking guidance from the RBI''s IRB approach.

The Company has followed simplified approach of ECL provisioning on loans and advances.

Applicable provisions for NBFCs covered under Ind AS:

RBI vide circular no. RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020, provides that NBFCs
which are required to comply with Indian Accounting Standards (Ind AS) shall, as hitherto, continue to be guided by the guidelines
duly approved by their board and as per the ICAI guidelines for recognition of the impairments.

Policy for Write off

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no reasonable
expectation of recovering the asset in its entirety or a portion thereof. This is generally the case when the Company determines
that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts
subject to the write-off and when there is no reasonable expectation of recovery from the collaterals held. However, financial
assets that are written-off could still be subject to enforcement activities in order to comply with the Company''s procedures for
recovery of amounts due.

iv) Collateral and other credit enhancements

Company would generally have its credit exposures backed by securities, either primary or collateral. Lending Policy of the Company
prescribes Asset cover norms and collateral guidelines for its various product offering. The amount and type of collateral required
depends on an assessment of the credit risk of the counterparty and product offered. Company grants loans against collateral
of immovable property (Land, under construction projects, Ready property) including commercial and residential properties.
As collateral is a source of mitigating credit risk, assessment of the condition of the securities and their value is undertaken on a
regular basis. There were no significant changes in the collateral policy of the company during the Financial Year 2024-2025

c) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulties in meeting the obligations associated with its financial
liabilities that are selected by delivering cash or other financial assets. 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. The Company has in place an
Asset-Liability Management Committee (ALCO) which functions as the operational unit for managing the Balance Sheet within
the performance and risk parameters laid down by the Board and Risk Committee of the Board. ALCO reviews Asset Liability
strategy and Balance Sheet management in relation to asset and liability profile. ALCO ensures that the objectives of liquidity
management are met by monitoring the gaps in the various time buckets, deciding on the source and mix of liabilities, setting the
maturity profile of the incremental assets and liabilities etc.

Key principles adopted in the Company''s approach to managing liquidity risk include:

a) Monitoring the Company''s liquidity position on a regular basis, using a combination of contractual and behavioral modelling
of balance sheet and cash flow information

b) Maintaining a high quality liquid asset portfolio or maintaining undrawn bank lines

c) Operating a prudent funding strategy which ensures appropriate diversification and limits maturity concentrations

42 LONG-TERM CONTRACTS

The company did not have any long-term contracts including derivative contracts for which any provision is required for the
forseeable losses.

43 FOREIGN CURRENCY EXPOSURE NOT HEDGED BY DERIVATIVE INSTRUMENTS

NIL (Previous Year- NIL)

44 DISCLOSURE IN RESPECT OF RBI CIRCULAR ON “COVID19 REGULATORY PACKAGE - ASSET CLASSIFICATION AND
PROVISIONING

Not Applicable

45 DISCLOSURE AS PER THE FORMAT PRESCRIBED AS PER THE NOTIFICATION NO. RBI/2020-21/16 DOR.NO.BP.BC/3/
21.04.048/ 2020-21 DATED AUGUST 6, 2020 AND RB1/2021-22/31/DOR.STR.REC.11 /21.04.048/2021-22 DATED MAY 05,
2021 - ON RESOLUTION FRAMEWORK-RESOLUTION OF COVID-19 RELATED STRESS

Not applicable since no resolution plan implemented under this framework

46 DISCLOSURE PERTAINING TO RBI MASTER DIRECTION - RBL/DOR/2021-22/86 DOR STR.REC51/21.04.048/2021-22
RESERVE BANK OF INDIA (TRANSFER OF LOAN EXPOSURES) DIRECTIONS, 2021 DATED SEPTEMBER 24, 2021

(a) The Company has not transferred through assignment in respect of loans not in default during the financial year ended
March 31,2025 and March 31,2024

(b) The Company has not acquired any loans (not in default) through assignment during the financial year ended March 31,
2025 and March 31,2024

(c) The Company has neither acquired nor transferred any stressed loans during the financial year ended March 31, 2025 and
March 31, 2024

47 PURSUANT TO RBI CIRCULAR ON PRUDENTIAL NORMS ON INCOME RECOGNITION, ASSET CLASSIFICATION AND
PROVISIONING PERTAINING TO ADVANCES

Clarification dated November 12, 2021, the Company has taken necessary steps in accordance with the provision of the aforesaid
circular. Further, on February 15, 2022, RBI has allowed a deferment of Para 10 of the aforesaid circular till September 30, 2022,
pertaining to upgrade of non-performing account.

48 MORATORIUM IN ACCORDANCE WITH THE RESERVE BANK OF INDIA (RBI) GUIDELINES

Not Applicable

49 MANAGERIAL REMUNERATION

During the year, Company has not paid the managerial remuneration to the directors which exceeds the limit prescribed under
section 197 and rules thereunder read with Schedule V of the Act.

50 RELATIONSHIP AND TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company does not have any transactions with struck-off companies in the financial year ended March 31, 2025 and
March 31,2024

51 UNDISCLOSED INCOME

The Company does not have any transaction which is not recorded in the books of accounts but has been surrendered or disclosed
as income 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) for the financial year ended March 31,2025 and March 31,2024.

52 REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES

No Satisfaction of charges pending on March 31,2025

53 SCHEME(S) OF ARRANGEMENTS

Not Applicable

54 DISCLOSURE W.R.T CRYPTO CURRENCY OR VIRTUAL CURRENCY

The company has not traded or invested in Crypto currency or virtual currency during the financial year ended March 31,2025 and
March 31,2024.

55 OTHER STATUTORY INFORMATION

i) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder during the financial year ended March 31,2025
and March 31,2024.

ii) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources
or other kind of funds) to or in any other person or entity, including foreign entity ("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 by or on behalf of the Company ("Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

iii) The Company has not received any funds (which are material either individually or in the aggregate) from any person or
entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that
the Company shall, 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 provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

(iv) The company has not been declared as willful defaulter by any bank or financial institutions or other lender during the
financial year ended March 31,2025 and March 31,2024.

As per our report of even date For and on behalf of the Board of Directors of

For AKGVG & Associates SG Finserve Limited

Chartered Accountants

Firm Registration No.018598N

Mohan Nayak Sahil Sikka Rohan Gupta Asha Anil Agarwal Sorabh Dhawan Ritu Nagpal

Partner Chief Financial Officer Director Director Chief Executive Officer Company Secretary

Membership No.029858 DIN- 08598622 DIN-09722160 ICSI Membership

No.A38318

Place: Bengaluru Date: May 8, 2025

Date: May 8, 2025 Place: Ghaziabad

---

Mar 31, 2024

l) Provision and contingencies

The Company makes a provision when there is a present obligation as a result of a past event, where the outflow of economic resources is probable and a reliable estimate of the amount of the obligation can be made.

A disclosure is made for a contingent liability when there is a:

- possible obligation, the existence of which will be confirmed by the occurrence/non-occurrence of one or more uncertain events, not fully within the control of the Company;

- present obligation, where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and

- present obligation, where a reliable estimate cannot be made.

When there is a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

m) Cash and cash equivalent

Cash and cash equivalents comprise cash at bank and in hand and short-term bank deposits with an original maturity of three months or less.

n) Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all potential dilutive equity shares.

o) Recent accounting prouncements Standards issued but not yet effective:

In March 2023, the Ministry of Corporate Affairs issued the Companies (Indian Accounting Standards) Amendment Rules, 2023 which amended certain Ind AS as explained below:

1) Ind AS 1 - Presentation of Financial Statements

- the amendment prescribes disclosure of material accounting policies instead of significant accounting policies. The impact of the amendment on the Financial Statements is expected to be insignificant basis the preliminary evaluation"

2) Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - the

amendment added definition of accounting estimate and clarifies what is accounting estimate and treatment of change in the accounting estimate and accounting policy. There is no impact of the amendment on the Financial Statements basis the preliminary evaluation.

3) Ind AS 12 - Income taxes - the definition of deferred tax asset and deferred tax liability is amended to apply initial recognition exception

on assets and liabilities that does not give rise to equal taxable and deductible temporary differences. There is no impact of the amendment on the Financial Statements basis the preliminary evaluation.

The above amendments are effective from annual periods beginning on or after 1⁵¹ April, 2023.

p) Impairment of financial instruments

The Company uses ''Expected Credit Loss'' (ECL) model, for evaluating impairment of financial assets measured at amortized cost or FVTOCI, except for investments in equity instruments. Company follows a ''three-stage'' model for impairment based on changes in credit quality since initial recognition.

Stage 1 (Performing Assets) - includes financial assets that have not had a significant increase in credit risk since initial recognition or that have low credit risk at the reporting date. For these assets, 12-month ECL is recognized and interest income is calculated on the gross carrying amount of the assets (that is, without deduction for credit allowance). 12-month ECL are the portion of ECL that results from default events on a financial instrument that are possible within 12 months after the reporting date, if the credit risk has not significantly increased since initial recognition.

Stage 2 (Underperforming Assets with significant increase in credit risk since initial recognition)

- includes financial instruments that have had a significant increase in credit risk since initial recognition (unless they have low credit risk at the reporting date) but that do not have objective evidence of impairment. For these assets, lifetime ECL are recognized, but interest income is calculated on the gross carrying amount of the assets. Lifetime ECL are the expected credit losses that result from all possible default events over the expected life of the instrument.

Stage 3 (Non-performing or Credit-impaired assets)

- includes financial assets that have objective evidence of impairment at the reporting date. For these assets, lifetime ECL is recognized.

Nature and purpose of reserves

(i) Securities premium: Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Indian Companies Act, 2013 ("the Companies Act").

(ii) Share Warrants: it is a document issued by the company under its common seal, stating that its bearer is entitled to the shares or stock specified therein. Share warrants are negotiable instruments. They are transferable by mere delivery without registration of transfer.

(iii) Retained earnings: It represents unallocated/un-distributed profits of the Company. The amount that can be distributed as dividend by the Company as dividends to its equity shareholders is determined based on the separate financial statements of the Company and also considering the requirements of the Companies Act, 2013. Thus amount reported above are not distributable in entirety.

(iv) Reserve fund in terms of section 45-IC(1) of the Reserve Bank of India Act, 1934: Reserve fund is created as per the terms of section 45-IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve.

(v) ESOP Reserve: ESOP stands for employee stock ownership plan. An ESOP grants company stock to employees, often based on the duration of their employment.

19(C) EMPLOYEE SHARE BASED PAYMENTS

The Company has established employees stock options plan, 2022 (ESOP Scheme-Moongipa Securities Limited Employee Stock Option Scheme-2022) for its employees by passing a resolution through postal ballot e-voting dated November 27, 2022. The employee stock option plan is designed to provide incentives to the employees of the Group to deliver long-term returns and is an equity settled plan. The ESOP Scheme is administered by the Nomination and Remuneration committee. Participation in the plan is at the Nomination and Remuneration committee''s discretion and no individual has a contractual right to participate in the plan or to receive any guaranteed benefits. Options granted under ESOP scheme would vest in not less than one year and not more than five years from the date of grant of the options. The Nomination and remuneration committee of the Company has approved multiple grants with related vesting conditions. Vesting of the options would be subject to continuous employment with the Company and hence the options would vest with passage of time. In addition to this, the Nomination and remuneration committee may also specify certain performance parameters subject to which the options would vest. Such options would vest when the performance parameters are met.

The above information regarding Micro, Small and Medium enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.

Micro, Small and Medium Enterprises Development

The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum. Based on the information available with the management, as at 31 March 2024, no dues were outstanding to Micro and Small enterprises as defined under the MSMED Act. Further, the Company has not received any claim for interest from any supplier under the said Act till 31^st March 2024.

31 SEGMENT REPORTING

The Company is engaged in the business of financing which as per the Indian Accounting Standard 108- Segment Reporting, is considered to constitute a single reportable primary segment which has similar risks and rewards for the purpose of the aforesaid standard. The Company operates in a single geographical segment, i.e. domestic and hence there are no reportable secondary segments.

32 OPERATING LEASES

The Company''s significant leasing arrangements are in respect of operating leases taken for office premises. These are operating leases with irrevocable lease period not exceeding ten years in respect of any arrangement. Future minimum lease rentals payable as per lease agreements are as follows:

Credit risk is the risk of financial loss if a customer or counterparty fails to meet an obligation under a contract. Lending activities account for most of the Company''s credit risk. Other sources of credit risk also exist in loans and transaction settlements. Credit risk is measured as the amount that could be lost if a customer or counterparty fails to make repayments. The maximum exposure to credit risk in the case of all the financial instruments is restricted to their respective carrying amount. Credit Risk is monitored through stringent credit appraisal, counter party limits and internal risk ranges of the borrowers. Exposure to credit risk is managed through regular analysis of the ability of all the customers and counterparties to meet interest and capital repayment obligations and by changing lending limits where appropriate. Company primarily offers loans secured by immovable property. In order to mitigate credit risk, the company also seeks collateral appropriate to the product segment. Other means of mitigating credit risk that the company uses are guarantees. The most common types of collateral the company receives, measured by collateral value, are mortgages on financial assets in the form of real estate.The company carries a Standard Assets Provision at 0.40 % on loans and advances.

37 FINANCIAL RISK MANAGEMENT

The company is exposed to various risk in relation to financial instruments. The company is exposed to market risk, credit risk and liquidity risk. The company risk activities are governed by appropriated policies and procedures and that financial risk are identified, measured and managed in accordance with the companies policies and risk objectives, which are summarized below:-

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because of changes in market prices. Market risk comprises Interest rate risk and foreign currency risk. The company does not have any foreign currency risk since the company does not have any foreign currency exposure as on reporting date. The company does not have any interest rate risk as neither its borrowings nor its advances are at floating interest rate as on reporting date.

ii) Credit Quality Analysis

An impairment analysis is performed at each reporting date based on the facts and circumstances existing on that date to identify expected losses on account of time value of money and credit risk. The credit quality of Loans and advances measured at amortized cost is primarily assessed by the Days Past Due (DPD) status.

Inputs, assumptions and techniques used for estimating impairment

In assessing the impairment of financial assets under the expected credit loss model, the Company defines default when a loan obligation is overdue for more than 90 days.

Assessment of significant increase in credit risk

When determining whether the risk of default has increased significantly since initial recognition, the Company considers the DPD status of the loans. Credit risk is deemed to have increased significantly when an asset is more than 30 days past due (DPD)

Calculation of expected credit losses

ECL provisioning has been computed taking guidance from the RBI''s IRB approach.

The Company has followed simplified approach of ECL provisioning on loan and advances.

Applicable provisions for NBFCs covered under Ind AS:

RBI vide circular no. RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020, provides that NBFCs which are required to comply with Indian Accounting Standards (Ind AS) shall, as hitherto, continue to be guided by the guidelines duly approved by their board and as per the ICAI guidelines for recognition of the impairments.

The following table sets out information about the credit quality of financial assets measured at amortized cost.

Policy for Write off

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no reasonable expectation of recovering the asset in its entirety or a portion thereof. This is generally the case when the Company determines that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off and when there is no reasonable expectation of recovery from the collaterals held. However, financial assets that are written-off could still be subject to enforcement activities in order to comply with the Company''s procedures for recovery of amounts due.

iv) Collateral and other credit enhancements

Company would generally have its credit exposures backed by securities, either primary or collateral. Lending Policy of the Company prescribes Asset cover norms and collateral guidelines for its various product offering. The amount and type of collateral required depends on an assessment of the credit risk of the counterparty and product offered. Company grants loans against collateral of immovable property (Land, under construction projects, Ready property) including commercial and residential properties.

As collateral is a source of mitigating credit risk, assessment of the condition of the securities and their value is undertaken on a regular basis. There were no significant changes in the collateral policy of the company during the Financial Year 2023-2024.

Liquidity risk is the risk that the Company will encounter difficulties in meeting the obligations associated with its financial liabilities that are selected by delivering cash or other financial assets. 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. The Company has in place an Asset-Liability Management Committee (ALCO) which functions as the operational unit for managing the Balance Sheet within the performance and risk parameters laid down by the Board and Risk Committee of the Board. ALCO reviews Asset Liability strategy and Balance Sheet management in relation to asset and liability profile. ALCO ensures that the objectives of liquidity management are met by monitoring the gaps in the various time buckets, deciding on the source and mix of liabilities, setting the maturity profile of the incremental assets and liabilities etc

Key principles adopted in the Company''s approach to managing liquidity risk include:

a) Monitoring the Company''s liquidity position on a regular basis, using a combination of contractual and behavioral modelling of balance sheet and cash flow information

b) Maintaining a high quality liquid asset portfolio or maintaining undrawn bank lines

c) Operating a prudent funding strategy which ensures appropriate diversification and limits maturity concentrations

The Company''s principal sources of liquidity are cash and cash equivalents, undrawn cash credit & overdraft facilities from Banks, liquid asset portfolio like Mutual funds and the cash flow that is generated from operation.

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include interest accrued till the reporting date.

45 DISCLOSURE PERTAINING TO RBI MASTER DIRECTION - RBL/DOR/2021-22/86 DOR STR.REC51/21.04.048/2021-22 RESERVE BANK OF INDIA (TRANSFER OF LOAN EXPOSURES) DIRECTIONS, 2021 DATED SEPTEMBER 24, 2021

(a) The Company has not transferred through assignment in respect of loans not in default during financial year ended March 31, 2024.

(b) The Company has not acquired any loans (not in default) through assignment during the financial year ended March 31, 2024.

(c) The Company has neither acquired nor transferred any stressed loans during the year ended March 31,2024.

46 PURSUANT TO RBI CIRCULAR ON PRUDENTIAL NORMS ON INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING PERTAINING TO ADVANCES

Clarification dated November 12, 2021, the Company has taken necessary steps in accordance with the provision of the aforesaid circular. Further, on February 15, 2022, RBI has allowed a deferment of Para 10 of the aforesaid circular till September 30, 2022, pertaining to upgrade of non-performing account.

47 MORATORIUM IN ACCORDANCE WITH THE RESERVE BANK OF INDIA (RBI) GUIDELINES

Not Applicable

48 MANAGERIAL REMUNERATION

During the year, Company has not paid the managerial remuneration to the directors which exceeds the limit prescribed under section 197 and rules thereunder read with Schedule V of the Act.

49 RELATIONSHIP AND TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company does not have any transactions with struck-off companies.

50 UNDISCLOSED INCOME

The Company does not have any transaction which is not recorded in the books of accounts but 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).

iii) The Company has not received any funds (which are material either individually or in the aggregate) from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iv) The Company has not been declared as wilful defaulter by any bank or financial institutions or other lender.

55 PRIOR PERIOD COMPARATIVES

Previous years figures have been regrouped and reclassified where necessary to confirm to current year''s presentation.

As per our report of even date

For AKGVG & Associates For and on behalf of the Board of Directors of

Chartered Accountants SG Finserve Limited (formerly Moongipa Securities Limited)

Firm Registration No.018598N

Sd/- Sd/- Sd/- Sd/- Sd/-

Mohan Nayak Rahul Gupta Rohan Gupta Sahil Sikka Ritu Nagpal

Partner Director Director Chief Financial Officer Company Secretary

Membership No.029858 DIN- 07151792 DIN- 08598622 ICSI Membership

No. A38318

Date: 28/05/2024

Place: New Delhi

---

Mar 31, 2023

Provision and contingencies

The Company makes a provision when there is a present
obligation as a result of a past event, where the outflow of
economic resources is probable and a reliable estimate of
the amount of the obligation can be made.

A disclosure is made for a contingent liability when there is a:

- possible obligation, the existence of which will be
confirmed by the occurrence/non-occurrence of one or
more uncertain events, not fully within the control of
the Company;

- present obligation, where it is not probable that an outflow
of resources embodying economic benefits will be required
to settle the obligation; and

- present obligation, where a reliable estimate
cannot be made.

When there is a present obligation in respect of which the
likelihood of outflow of resources is remote, no provision or
disclosure is made.

m) Cash and cash equivalent

Cash and cash equivalents comprise cash at bank and in
hand and short-term bank deposits with an original maturity
of three months or less.

n) Earnings per share

Basic earnings per share are calculated by dividing the net
profit or loss for the year attributable to equity shareholders
by the weighted average number of equity shares
outstanding during the year.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects of
all potential dilutive equity shares.

o) Recent accounting prouncements

Standards issued but not yet effective:

In March 2023, the Ministry of Corporate Affairs
issued the Companies (Indian Accounting Standards)
Amendment Rules, 2023 which amended certain Ind AS as
explained below:

1) Ind AS 1 - Presentation of Financial Statements - the

amendment prescribes disclosure of material accounting
policies instead of significant accounting policies. The impact
of the amendment on the Financial Statements is expected
to be insignificant basis the preliminary evaluation.

2) Ind AS 8 - Accounting Policies, Changes in Accounting
Estimates and Errors - the amendment added definition of
accounting estimate and clarifies what is accounting estimate
and treatment of change in the accounting estimate and
accounting policy. There is no impact of the amendment on
the Financial Statements basis the preliminary evaluation.

3) Ind AS 12 - Income taxes - the definition of deferred tax
asset and deferred tax liability is amended to apply initial
recognition exception on assets and liabilities that does
not give rise to equal taxable and deductible temporary
differences. There is no impact of the amendment
on the Financial Statements basis the preliminary
evaluation.

The above amendments are effective from annual periods
beginning on or after 1^st April, 2023.

---

Mar 31, 2015

Corporate information

The company is carrying on the business of trading in equity shares and mutual funds. The principal place of business of the company is the same as registered office of the company.

1. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

2. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

3. Auditor's Remuneration

4. Managerial Remuneration Rs.5,75,900 (Previous Year Rs. 5,20,000)

5. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2008 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

6. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1* April, 2014 to 31* March, 2015. (Previous year Rs. Nil).

7. Value of Imports Calculated on ClF Basis Rs. Nil (Previous Year Rs. Nil)

8. Related Party Transactions

1. Following are the related parties

a. Key Management Personnel (KMP)

- Mr. Sanjay Jain (Whole Time Director)

b. Enterprises Significantly Influenced, toy KMP & their Relatives

- Moongipa Capital Finance Limited

9. PUBIC DEPOSITS *

As informed to us company has 'riot accepted any deposits from public during the year ended on 31 st March, 201S & previous year ended on 31st March, 2014.

10. EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2015 & previous year ended on 31st March, 2014.

11. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amendment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31* March, 2015 & Previous year ended on 31" March, 2014 have been prepared/ redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.

12. Notes no. 1 to 35 form an integral part of the Financial Statements for the year ended on 31* March, 2015.

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Mar 31, 2014

1 Contingent Liabilities

(a) As per the management of the Company there are no contingent liabilities in the name of Company as at 31" March, 2014 which are pending and not provided for in the books of accounts

2 Claims against the Company not acknowledged as Debts - Rs Nil (Previous Year Rs. Nil).

3 Pending Capital Commitments remaining to be executed - Rs Nil (Previous Year Rs. Nil).

4 Auditor s Remuneration

S. No. Particulars For the Year For the Year 2013-2014 2012-2013

1 Audit Fees 25,000.00 25,000.00

Service Tax 3,090.00 3,090.00

Total 28,090.00 28,090.00

5 Managerial Remuneration Rs5.20.000 (Previous Year Rs. 4,45.000)

6 Based on the Information received from all the vendor regarding their statues under Micro. Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs Nil

7 The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2013 to 31st March, 2014. (Previous year Rs. Nil).

8 Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs Nil)

9 Related Party Transactions

1. Following are the related parties

a. Key Management Personnel (KMP) * Mr. Sanjay Jain (Whole Time Director)

b. Enterprises Significantly Influenced by KMP & their Relatives * Moongipa Capital Finance Limited

10 PUBIC DEPOSITS

As informed to us company has not accepted any deposits from public during the year ended on 31" March, 2014 & previous year ended on 31st March, 2013.

11 EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2014 & previous year ended on 31st March 2013

12 As per the Notification No. S O 447 (E) dated 28 02 2011 read with amendment Notification S.O.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31st March. 2014 & Previous year ended on 31" March 2013 have been prepared/redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956

13. Notes no. 1 to 15 form an integral part of the Financial Statements for the year ended on 31" March. 2014

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Mar 31, 2013

1. Contingent Liabilities

(a) As per the management of the Company there are no contingent liabilities in the name of company as at 31st March, 2013 which are pending and not provided for in the books of accounts..

2. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

3. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

4. Managerial Remuneration Rs. 4,45,000 (Previous Year Rs. 3,85,000)

5. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

6. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2012 to 31st March, 2013. (Previous year Rs. Nil).

7. Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs. Nil)

8. Related Party Transactions

Following are the related parties

(a) Key Management Personnel (KMP) * Mr. Sanjay Jain (Whole Time Director)

(b) Enterprises Significantly Influenced by KMP & their Relatives * Moongipa Capital Finance Limited

9. PUBIC DEPOSITS

As informed to us company has not accepted any deposits from public during the year ended on 31st March, 2013 & previous year ended on 31st March, 2012.

10. EXCEPTIONAL ITEMS

As informed to us there are no such exceptional items for the year ended on 31st March, 2013 & previous year ended on 31st March, 2012.

11. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amendment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31st March, 2013 & Previous year ended on 31st March, 2012 have been prepared/redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.

12. Notes no. 1 to 15 form an integral part of the Financial Statements for the year ended on 31st March, 2013.