1.17. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

i) Provisions are made when (a) the Company has a present legal or constructive obligation as a result of past
events; (b) it is probable that an outflow of resources embodying economic benefits will be required to settle
the obligation; and (c) a reliable estimate is made of the amount of the obligation.

ii) Contingent liabilities are not provided for but are disclosed by way of Notes on Accounts. Contingent liabilities
is disclosed in case of a present obligation from past events (a) when it is not probable that an outflow of
resources will be required to settle the obligation; (b)when no reliable estimate is possible; (c) unless the
probability of outflow of resources is remote.

iii) Contingent assets are not accounted but disclosed by way of Notes on Accounts where the inflow of economic
benefits is probable.

1.18. CURRENT AND NON-CURRENT CLASSIFICATION:

i) The Normal Operating Cycle for the Company has been assumed to be of twelve months for classification of its
various assets and li-abilities into "Current" and "Non-Current".

ii) The Company presents assets and liabilities in the balance sheet based on current and non-current classification.

iii) An asset is current when it is (a) expected to be realized or intended to be sold or consumed in normal operating
cycle; (b) held primarily for the purpose of trading; (c) expected to be realized within twelve months after the
reporting period; (d) Cash and cash equivalent un-less restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period. All other assets are classified as non-current.

iv) An liability is current when (a) it is expected to be settled in normal operating cycle; (b) it is held primarily for
the purpose of trading; (c) it is due to be discharged within twelve months after the reporting period; (d) there is
no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.
All other liabilities are classified as non-current.

1.19. RELATED PARTY TRANSACTIONS:

i) A related party is a person or entity that is related to the reporting entity preparing its financial statements;

(a) A person or a close member of that person's family is related to reporting entity if that person;

(i) Has control or joint control of the reporting entity;

(ii) Has significant influence over the reporting entity; or

(iii) Is a member of the key management personnel of the reporting entity or of a parent of the reporting
entity.

(b) An entity is related to a reporting entity if any of the following conditions applies;

(i) the entity and the reporting entity are members of the same group (which means that each parent,
subsidiary and fellow subsidiary is related to the others);

(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a
member of a group of which the other entity is a member);

(iii) Both entities are joint ventures of the same third party;

(iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity;

(v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity
or an entity related to the reporting entity;

(vi) The entity is controlled or jointly controlled by a person identified in (a);

(vii) A person identified in (a) (i) Has significant influence over the entity or is a member of the key
management personnel of the entity (or of a parent of the entity);

(viii) The entity, or any member of a group of which it is a part, pro-vides key management personnel
services to the reporting entity or to the parent of the reporting entity.

ii) A related party transaction is a transfer of resources, services or obligations between a reporting entity and a
related party, regardless of whether a price is charged.

Close members of the family of a person are those family members who may be expected to influence, or be
influenced by, that person in their dealings with the entity.

Compensation includes all employee benefits i.e. all forms of con-sideration paid, payable or provided by the
entity, or on behalf of the entity, in exchange for services rendered to the entity. It also includes such consideration
paid on behalf of a parent of the entity in respect of the entity.

Key management personnel are those persons having authority and responsibility for planning, directing and
controlling the activities of the entity, directly or indirectly, including any director (whether executive or
otherwise) of that entity.

iii) Disclosure of related party transactions as required by the accounting standard is furnished in the Notes on
Financial Statements.

1.20. EARNINGS PER SHARE:

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

ii) 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 dilutive potential equity shares.

1.21. LEASE:

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116.
Identification of a lease requires significant judgment. The Company uses significant judgement in assessing the
lease term (including anticipated renewals) and the applicable discount rate.

The company applies single recognition and measurement approach for all leases, except for short term leases and
leases of low- value assets. At the date of commencement of the lease, the Company recognizes a right-of-use asset
("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with
a term of twelve months or less (short-term leases) and leases of low value assets.

i. Right of Use Assets

Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted
for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any
lease incentives received. In case of rent deposits carried at rate less than market rate, Initial direct costs of right of
use assets includes the difference between present value of the Right of Use Assets and Nominal Amount of the
deposit. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the assets:

ii. Lease Liabilities:

At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of
lease payments to be made over the lease term. The lease payments include fixed payments (including in substance
fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and
amounts expected to be paid under residual value guarantees. In calculating the present value, the lease payments
are dis-counted using the interest rate implicit in the lease or, if not readily determinable, using the Company's
incremental borrowing rates.

iii. Short Term Leases and Leases of Low-Value Assets

The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered
by an option to extend the lease if the Company is reasonably certain to exercise that option; and periods covered
by an option to terminate the lease if the Company is reasonably certain not to exercise that option. In assessing
whether the Company is reasonably certain to exercise an option to extend a lease, or not to exercise an option to
terminate a lease, it considers all relevant facts and circumstances that create an economic incentive for the
Company to exercise the option to extend the lease, or not to exercise the option to terminate the lease. The
Company revises the lease term if there is a change in the non-cancellable period of a lease. For these short-term
and leases of low value assets, the Company recognizes the lease payments as an operating expense on a straight¬
line basis over the term of the lease.

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

The preparation of the Standalone Financial Statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities at the date of the financial statements. Estimates and
assumptions are continuously evaluated and are based on management's experience and other factors, including
expectations of future events that are believed to be reasonable under the circumstances. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of
assets or liabilities affected in future periods.

a) Judgements:

In the process of applying the Company's accounting policies, management has made the following
judgements, which have the most significant effect on the amounts recognized in the standalone financial
statements:

(i) Determination of Functional Currency:

Currency of the primary economic environment in which the Company operates ("the functional Currency
of the primary economic environment in which the Company operates ("the functional currency") is Indian
Rupee (') in which the company primarily generates and expends cash. Accordingly, the Management has
assessed its functional currency to be Indian Rupee (').

(ii) Evaluation of Indicators for Impairment of Property, Plant and Equipment:

The evaluation of applicability of indicators of impairment of assets requires assessment of external factors
(significant decline asset's value, significant changes in the technological, market, economic or legal
environment, market interest rates etc.) and internal factors (obsolescence or physical damage of an asset,
poor economic performance of the asset etc.) which could result in significant change in recoverable amount
of the Property, Plant and Equipment.

b) Assumptions and Estimation Uncertainties:

Information about estimates and assumptions that have the significant effect on recognition and measurement
of assets, liabilities, income and expenses is provided below. Actual results may differ from these estimates.

(i) Taxes:

Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable profit
will be available against which the losses can be utilized. Significant management judgement is required to
determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the
level of future taxable profits together with future tax planning strategies.

The Company has carried forward loss on which deferred tax asset is created, based on probability that
future profits will be available against which the deductible temporary difference can be realized.

(ii) Useful lives of Property, Plant and Equipment/Intangible Assets:

Property, Plant and Equipment/ Intangible Assets are depreciated/amortized over their estimated useful
lives, after taking into account estimated residual value. The useful lives and residual values are based on
the Company's historical experience with similar assets and taking into account anticipated technological
changes or commercial obsolescence. Management reviews the estimated useful lives and residual values
of the assets annually in order to determine the amount of depreciation/ amortisation to be recorded during
any reporting period. The depreciation/ amortisation for future periods is revised, if there are significant
changes from previous estimates and accordingly, the unamortised/ depreciable amount is charged over
the remaining useful life of the assets.

(iii) Contingent Liabilities:

In the normal course of business, Contingent Liabilities may arise from litigation and other claims against
the company. Potential liabilities that are possible but not probable of crystallising or are very difficult to
quantify reliably are treated as contingent liabilities. Such liabilities are disclosed in the Notes but are not
recognised. Potential liabilities that are remote are neither recognised nor disclosed as contingent liability.
The management decides whether the matters need to be classified as 'remote', 'possible' or 'probable' based
on expert advice, past judgements, experiences etc.

(iv) Evaluation of Indicators for Impairment of Property, Plant and Equipment:

The evaluation of applicability of indicators of impairment of assets requires assessment of external factors
(significant decline in asset's value, economic or legal environment, market interest rates etc.) and internal
factors (obsolescence or physical damage of an asset, poor economic performance of the idle assets etc.)
which could result in significant change in recoverable amount of the Property, Plant and Equipment and
such assessment is based on estimates, future plans as envisaged by the company.

(v) Provisions:

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

PURPOSE OF RESERVE

Capital Reserve: The Company recognises profit and loss on purchase, sale, issue or cancellation of the Company's own
equity instruments to capital reserve.

Security Premium: Securities premium is used to record premium received on issue of shares. The reserve is utilised in
accordance with the provisions of the Companies Act, 2013.

General Reserve: Under the erstwhile Indian Companies Act, 1956, a general reserve was created through an annual
transfer of net profit at a specified percentage in accordance with applicable regulations. Consequent to introduction of
Companies Act, 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has
been withdrawn though the Company may transfer such percentage of its profits for the financial year as it may consider
appropriate. Declaration of dividend out of such reserve shall not be made except in accordance with rules prescribed in
this behalf under the Act.

Retained Earnings: Retained Earnings are the profits and gains that the Company has earned till date, less any transfer to
general reserve, dividends or other distributions paid to shareholders.

b. Capital Commitments

Estimated amount of contracts remaining to be executed on capital account [net of advances] and not provided for ' NIL
(P.Y. ' NIL).

Note:

(a) It is not practicable for the company to estimate the timings of cash outflows, if any, in respect of the above, pending
resolution of the respective proceedings as it is determinable only on receipt of judgments/decisions pending with various
forums/ authorities.

(b) The Company has reviewed all its pending litigations and proceedings and has adequately provided for where
provisions are required and disclosed as contingent liabilities where applicable, in its financial statements. The Company
does not expect the outcome of these proceedings to have a materially adverse effect on its financial results.

Note - 28: Financial and Derivative instruments

- Capital Management

The company's objective when managing capital is to:

- Safeguard its ability to continue as a going concern so that the Company is able to provide maximum return to
stakeholders and benefits for other stakeholders.

- Maintain an optimal capital structure to reduce the cost of capital.

The company's Board of director's reviews the capital structure on regular basis. As part of this review the board considers
the cost of capital risk associated with each class of capital requirements and maintenance of adequate liquidity.

Disclosures

This section gives an overview of the significance of financial instruments for the Company and provides additional
information on balance sheet items that contain financial instruments.

The details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis
on which income and expenses are recognized in respect of each class of financial asset, financial liability and equity
instrument are disclosed in Accounting policies as stated above.

Fair Value of financial assets and liabilities that are not measured at fair value (but fair value disclosures are required).

Management considers that the carrying amounts of financial assets and financial liabilities recognized in the financial
statements approximate their fair values.

(iii) Financial Risk Management Objectives

While ensuring liquidity is sufficient to meet Company's operational requirements, the Company's financial management
committee also monitors and manages key financial risks relating to the operations of the Company by analyzing exposures
by degree and magnitude of risks. These risks include market risk (including currency risk and price risk), credit risk and
liquidity risk.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises two types of risk: interest rate, currency risk and other price risk, such as commodity
price risk and equity price risk. Financial instruments affected by market risk include FVTPL investments, trade payables,
trade receivables, etc.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the
Company's operating activities. The Company has a treasury department which monitors the foreign exchange fluctuations
on the continuous basis and advises the management of any material adverse effect on the Company.

Interest Rate Risk

The Company's interest rate risk arises from the Long-Term Borrowings with fixed rates. The Company's fixed rates
borrowings are carried at amortized cost.

Liquidity Risk

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and
availability of funding through an adequate amount of committed credit facilities to meet the obligations when due.

Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash
flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to
meet obligations by matching the maturity profiles of financial assets & liabilities and monitoring balance sheet liquidity
ratios.

The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with
agreed repayment periods. The information included in the tables have been drawn up based on the undiscounted cash
flows of financial liabilities based on the earliest date on which the Company can be required to pay. The contractual
maturity is based on the earliest date on which the Company may be required to pay.

Trade Receivables

An impairment analysis is performed at each reporting date on an individual basis for all the customers. In addition, a large
number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The
maximum exposure to credit risk at the reporting date is the carrying value of trade receivables disclosed in Note 5 as the
Company does not hold collateral as security. The Company has evaluated the concentration of risk with respect to trade
receivables as low, as its customers are located in several jurisdictions and industries.

The Company has made assessment of Allowance for Credit Loss in respect of Trade Receivables. The Company has
analysed its trade receivables for gaining analysis and grouped them accordingly and then applied ear wise percentage to
calculate the amount of Allowance for Credit Loss in respect of the same.

(ii) Defined Benefit Plan: Retirement benefits in the form of Gratuity are considered as defined benefit obligation and
are provided for on the basis of third party actuarial valuation, using the projected unit credit method, as at the date
of the Balance Sheet.

Every Employee who has completed five years or more of service is entitled to Gratuity on terms not less favorable
than the provisions of the Payment of Gratuity Act, 1972.

As the Company has not funded its liability, it has nothing to disclose regarding plan assets and its reconciliation.

(iii) Major risk to the plan:

I have outlined the following risks associated with the plan:

Interest rate risk:

A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability requiring
higher provision. A fall in the discount rate generally increases the mark to market value of the assets depending on
the duration of asset.

Salary Risk:

The present value of the defined benefit plan liability is calculated by reference to the future salaries of members.
As such, an increase in the salary of the members more than assumed level will increase the plan's liability.

Investment Risk:

The present value of the defined benefit plan liability is calculated using a discount rate which is determined by
reference to market yields at the end of the reporting period on government bonds. If the return on plan asset is
below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced mix of
investments in government securities, and other debt instruments.

Asset Liability Matching Risk:

The plan faces the ALM risk as to the matching cash flow. Since the plan is invested in lines of Rule 101 of Income
Tax Rules, 1962, this generally reduces ALM risk.

Mortality risk:

Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have
any longevity risk.

Concentration Risk:

Plan is having a concentration risk as all the assets are invested with the insurance company and a default will wipe
out all the assets. Although probability of this is very less as insurance companies have to follow regulatory
guidelines.

(viii) The above details are certified by the actuary.

Note - 30: In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value
stated, if realized in the ordinary course of business and the provisions for depreciation and all known and ascertained
liabilities are adequate and not in excess of the amounts reasonably necessary.

Note - 31: The balance confirmation from the suppliers and customers have been called for, but the same are awaited till
the date of audit. Thus, the balances of receivables and trade payables have been taken as per the books of accounts
submitted by the company and are subject to confirmation from the respective parties.

Note - 35: Previous year figures have been re-grouped / rearranged, wherever necessary to make them comparable with
those of current year.

Note - 36: The financial statements were authorized for issue by the directors under the directions of the Insolvency
Resolution Professional on May 30, 2024.

Note - 37: The outstanding trade payables consists of ? 131.77 lakhs which are payable in foreign currency for more than
three year as at March 31, 2024 to its foreign suppliers. Currently Management/Resolution Professional (RP) is in the

process of evaluating appropriate course of action for compliance with Foreign Exchange Management Act, 1999 and
any other applicable law on account of delay in payment of above dues.

Note - 38: The company is having accumulated losses (after taking into account the balance of reserves) of ? 1,238.89
lakhs as at March 31, 2024 and the net worth of the company is negative. This Indicates that material Uncertainty exists
that may cast significant doubt on the company's ability to continue as going concern and therefore the company may
be unable to realise its assets and discharge its liabilities in the normal course of business. The ultimate outcome of
these matter is at present not ascertainable.

Note - 39: Eligibility of Corporate Social Responsibility

Based on the average net profits of the Company after computation of Net Profit as per Section 198 of the Companies Act,
2013 for the preceding three financial years, the Company is not required to spend any amount on CSR activities during the
financial year 2023-24.

Note - 40: The Company had availed intercorporate deposit from "Sampati Securities Limited" amounting to ? 25.00 Lakhs,
which has become due on February 1, 2024 as per the agreement. However, the company being under the Corporate
Insolvency Resolution Process (CIRP) and due to moratorium u/s 14 of the Insolvency and Bankruptcy Code, 2016 the said
amount has not been repaid by the company. The company has provided total interest of ? 3.71 Lakhs for the year ending
on March 31, 2024; which includes interest up to the date of CIRP of ? 1.69 Lakhs and post CIRP of ? 2.02 Lakhs.

Note - 41: Undisclosed Transactions

As stated, & confirmed by the Company's Management / Resolution Professional (RP), The Company does not have any
such transaction which is 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.

Note - 42: Benami Transactions

As stated, & confirmed by the Company's Management/ Resolution Professional (RP), the Company does not have any
Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property.

Note - 43: Loan or Investment to Ultimate Beneficiaries

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP), The Company has not advanced or
loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall;

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on be-half of
the company (Ultimate Beneficiaries) or

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

Note - 44: Loan or Investment from Ultimate Beneficiaries

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP), 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 on behalf of the Ultimate Beneficiaries.

Note - 45: Working Capital

As stated, & Confirmed by the Company's Management/Resolution Professional (RP), The Company has not been
sanctioned working capital limits from a bank.

Note - 46: Willful Defaulter

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP), the company has not been declared
willful defaulter by the bank during the year under review.

Note - 47: Transactions with Struck off Companies

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP), the company has not under taken
any transactions nor has outstanding balance with the company Struck Off either under section 248 of the Actor under
Section 560 of Companies act 1956.

Note - 48: Satisfaction of Charge

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP), The company does not have any
pending registration or satisfaction of charges with ROC beyond the statutory period.

Note - 49: Crypto Currency

As stated, & Confirmed by the Company's Management/ Resolution Professional (RP). The Company has not traded or
invested in Crypto Currency or Virtual Currency.

Note - 50: Compliance with number of layers of companies:

As informed and confirmed by the Company's Management/ Resolution Professional (RP), the Company has complied
with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number
of Layers) Rules, 2017.

Note - 51: Compliance with Scheme of Arrangement:

The Company has not applied for any scheme of Arrangements under sections 230 to 237 of the Companies Act 2013.

As per our report of even date attached
Signatures to Notes - 1 to 54.

For, Parikh & Majmudar For and on behalf of the Board of Directors,

Chartered Accountants BLOOM DEKOR LIMITED (under CIRP)

(Firm Regn. No. 107525W)

Vineeta Maheshwari Dr. Sunil Gupta

CA Satwik Durkal (Partner) Insolvency Resolution Professional Managing Director

Membership No. 107628 DIN 00012572

UDIN: 24107628BJZWRW4600

Rupal Gupta Tushar Donda Falguni Shah

Non-executive Director Company Secretary Chief Financial Officer

Date: May 30, 2024 DIN 00012611

Place: Ahmedabad Date: May 30, 2024 Place: Ahmedabad