Effective ApriL 1, 2019, the Company adopted Ind AS 116 “Leases”, appLied to aLL Lease contracts existing on ApriL 1, 2019 prospectiveLy and has accrued Lease Liabilities at present vaLue and equivalent Right of use assets on the date of initial application.

Lease Modification:

(i) Considering that there has been a change in the consideration payabLe for the Lease payments on account of deferring of the rent escalation by one month, it has Led to a modificition in the terms of the Lease contract and hence we have treated it as a Lease modification transaction.

(ii) Wherein the Lease Liability has been reassessed from the date of modification considering the revised rate of discounting the Lease payments.

(iii) This has Led to an increase in the Lease Liability by ' 240.51 (in ‘000) the corresponding effect of which has been given to the ROU Asset.

(iv) Further the increase in the ROU Asset wiLL be ammortised over the remaining Lease duration of 24 months”.

On November 01, 2021, the Company subscribed to 100 Equity shares of XeLpmoc Design and Tech UK Limited, UK of £ 1 each, for a totaL consideration of £ 100, accordingly XeLpmoc Design and Tech UK Limited becomes the whoUy owned subsidiary of the Company. The Company intends to offer technology services and solutions to public and private sector clients engaged in e-commerce, hospitality, healthcare, education, and various other industries through this WhoUy Owned subsidiary.

During the year ended March 31, 2023 subscribed to additional 1,30,000 Equity shares Xelpmoc Design and Tech UK Limited, UK of £ 1 each, for a total consideration of £ 1,30,000 thereby continuing holding 100% of the share capital of Xelpmoc Design and Tech UK Limited.

Further during the year ended March 31, 2024 subscribed to additional 29,900 Equity shares Xelpmoc Design and Tech UK Limited, UK of £ 1 each, for a total consideration of £ 29,900 thereby continuing holding 100% of the share capital of Xelpmoc Design and Tech UK Limited.

1) The Company as subscriber to the memorandum of association upon incorporation of Xperience India Private Limited on Spetember 9, 2022 subscribed to 21,50,000 shares at Re. 1 each per share. Post this acquisition the Company hoLds 43% of the share capital, of the investee Company, accordingly Xperience India Private Limited becomes the associate entity of the Company. During the year, Company has impaired vaLue of investement in Xperience India Private Limited, based on impairment indicators and management assessment Company by ' 2,150.00 (‘000) during the year ended 31^st March, 2024. The impairment Losses had been appropriately recognised through statement of Profit and Loss.

2) During the year ended March 31, 2024 Company invested in the shares of Mayaverse Inc., USA a a totaL consideration of USD 2,50,000 for 2,500 common stock (equity shares) hoLding 25% of the share capitaL.

1) Investments in equity instruments of private Limited entities has been designated as fair vaLue through other comprehensive income. The vaLuation of these shares as on the vaLuation date has been arrived at using the discounted cash flow method/Market comparable method.

2) The Company has made investment in technology start ups entity Fortigo, Firstsense and Accelerated as it has been incurring continuous losses and unable to raise funds. As a result, based on the impairment indicators and internal assessment done by the Management of the Company, the Company during FY 23-24 has fuHy provided for impairment in the value of the investments in Fortigo, Firstsense and Accelerated for ' 11,121.97 (‘000), ' 2,661.43 (‘000) and 27,582.54 (‘000) respectively, which is equivalent to the carrying value of the Investment. The impairment losses have been appropriately recognised through OCI in the year ended 31 March 2024.

b) Initial Public Offer:

Variation in the object of the issue and utilization of the ipo proceeds

Pursuant to the provisions of Sections 13 and 27 of the Companies Act, 2013, read with the Companies (Incorporation) RuLes, 2014 and the Companies (Prospectus and Allotment of Securities) Rules, 2014 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable law and considering the explanation for variation as stated below, the Shareholders of the company vide special resolution dated September 30, 2023 with majority of more than 90% of the voting shareholders voted in the favor of the resolution, had approved the further variation in utilization of the IPO proceeds, by way of deploying and/or utiLise the unutiLized amount/baLance proceeds of 7 7332 thousand of the existing object “Purchase of IT hardware and network equipment’s for development centres in KoLkata and BangaLore” towards the other IPO object of “Funding working capitaL requirements of the Company”

Explanation for the variation

Post Covid-19 situation, the Company has expanded more in Hyderabad as compared to BangaLore, as a resuLt of this change there has been a significant reduction in the capital, expenditure (capex) requirements in the BangaLore and KoLkata regions. This change in operational emphasis has naturaLLy Led to a decreased demand for the financiaL resources that were previousLy aLLocated for capex in these areas. MeanwhiLe, the financiaL resources necessary for capex in Hyderabad were primariLy sourced from preferentiaL aLLotment funds. This weLL-considered aLLocation of funds has pLayed a cruciaL roLe in supporting the Company’s expansion efforts in the Hyderabad region. Considering decreased need for capex funds in BangaLore and KoLkata due to the operationaL reaLignment, the Company’s board of directors is proposing to redirect these funds towards enhancing the company’s working capitaL, reflecting the Company’s adaptive approach to financiaL resource management. This strategic adjustment underscores the Company’s commitment to effective financiaL utiLization as it navigates its evoLving operationaL Landscape.

*The above stated objects was the original, object of the issue and after variation in the objects of issue the aforesaid objects has been cancelled.

¹' 1,261.79 (' in 000’s) utiLised before variation of the Objects of the Issue and ' 1,281.40 (' in 000’s) utiLized after variation of the Objects of the Issue.

²UtiLised before first variation of the Objects of the Issue for originaL object i.e. for purchase of fit outs for new development centers in KoLkata and Hyderabad.

³' 41,677.03 (' In ‘000s) utiLised before first variation of the Objects of the Issue and ' 1,03,465.68 (' In ‘000s) utiLized after first variation of the Objects of the Issue and ' 7,332.00 (' in ‘000s) utiLized after second variation of the Objects of the Issue.

⁴' 35,526.93 (' In 1000s) utiLised before first variation of the Objects of the Issue and ' 10,202.56 (' In 1000s) utiLized after first variation of the Objects of the Issue.

Further to inform you that as stated above, IPO proceeds have been fuLLy utiLized during the year ended March 31, 2024.

c) Preferntial Allotment:

During the financiaL year 2021-22, the Company has issued and aLLotted 7,20,000 Equity shares of face vaLue of ' 10/- each fuLLy paid-up, at a price of ' 375/- per Equity share (incLuding securities premium of ' 365) on preferentiaL basis, aggregating ' 2,70,000.00 thousands to Foreign PortfoLio Investors - Category I (QIBs). The Company has aLLotted the said Equity shares at its meeting of the Management Committee of the Board of directors heLd on 24^th August, 2021. The proceeds of such aLLotment has been received by the Company as on 24^th August, 2021.

d) Issue of shares under ESOP scheme:

During the year ended 31^st March, 2024, the Company has issued and allotted 1,00,000 equity shares upon conversion of Stock Options granted pursuant to XeLpmoc Design and Tech Limited EmpLoyee Stock Option Scheme 2019. Consequent to these allotments, the paid-up capital, of the Company stands increased to ' 14,62,84,130 comprising of 1,46,28,413 equity shares at face vaLue of ' 10/- each.

During the year ended 31^st March, 2023, the Company has issued and aLLotted 50,000 equity shares upon conversion of Stock Options granted pursuant to XeLpmoc Design and Tech Limited EmpLoyee Stock Option Scheme 2019. Consequent to these aLLotments, the paid-up capitaL of the Company stands increased to ' 14,52,84,130 comprising of 1,45,28,413 equity shares at face vaLue of ' 10/- each.

e) Shares reserved for issue under options:

For detaiLs of shares reserved for issue under the ESOP of the Company, refer note 37.

f) Terms/rights attached to equity shares:

The Company has onLy one cLass of equity shares having a par vaLue of ' 10/- per share. Each sharehoLder is entitLed to vote in proportion to his share of the paid up equity capitaL of the Company except upon voting by “Show of hands” where one share sharehoLder is entitLed to one vote. In the event of Liquidation of the Company, the hoLders of equity shares wiLL be entitLed to receive remaining assets of the Company in proportion to their sharehoLdings. The SharehoLders are entitLed to receive dividend in proportion to the amount of paid up equity shares heLd by them. The Company has not decLared any dividend during the Last three financiaL years.

i) Aggregate number of bonus shares issued, for consideration other than cash during the period of 5 years immediately preceeding the reporting date:

The Company by way of Special. Resolution had recommended to capitaLise a sum of ' 3,62,07,250/- out of the amount standing to the credit of the securities premium accounts on March 31, 2018, and the aforesaid amount be applied for paying up, in fuLL, at par 36,20,725 equity shares of ' 10/- each in the capitaL of the Company. The bonus shares had been issued to such member hoLding equity shares as per the Register of Equity Shareholders as on 27^th JuLy, 2018 (“Record Date”), in proportion of 55 (Fifty Five) Equity Shares for every 100 (One Hundred) Equity Shares.

j) The Company has not paid any dividend in Last 3 years.

k) Capital Management:

The primary objective of the Company’s capitaL management is to ensure that it maintains an efficient capitaL structure and heaLthy capitaL ratios to support its business and maximize sharehoLder vaLue. The Company makes adjustments to its capitaL structure based on economic conditions or its business requirements. To maintain/adjust the capitaL structure the Company may make adjustments to dividend paid to its sharehoLders or issue new shares.

The Company monitors capitaL using the metric of Net Debt to Equity. Net Debt is defined as borrowings Less cash and cash equivaLents, fixed deposits and readiLy redeemabLe investments. The Company has no borrowings as on the reporting date.

The Company offsets tax assets and Liabilities if and only if it has a Legally enforceable right to set off current tax assets and current tax Liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.

Significant management judgment is required in determining provision for income tax, deferred income tax assets and liabilities and recoverability of deferred income tax assets. The recoverability of deferred income tax assets is based on estimates of taxabLe income in which the reLevant entity operates and the period over which deferred income tax assets wiH be recovered.

There are no Micro, SmaLL and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at the balance sheet date. The above information regarding Micro, SmaU and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

Performance obligations and remaining performance obligations:

The remaining performance obligation disclosure provides the aggregate amount of the transaction price yet to be recognized as at the end of the reporting period and an explanation as to when the Company expects to recognize these amounts in revenue.

Applying the practical expedient as given in para 121 of Ind AS 115, the Company has not disclosed the remaining performance obligation related disclosures for contracts where the performance obligation is part of a contract that has an original expected duration of one year or less and where the revenue recognized corresponds directly with the value to the customer of the entity’s performance completed to date, typically those contracts where invoicing is on time and material basis.

As all the open contracts as on the reporting date are either with original expected duration of one year or less or are time and material contracts no disclosure pertaining to remaining performance obligation is required.

As per Ind AS 115, unbilled revenues of ' 21,489.02 (‘000s) for year ending March 31, 2024 and ' 40,249.11 (‘000s) for year ending March 31, 2023) has been considered as a financial asset.

NOTE 35: LEASES

Company amortises the depreciation on right of use assets over the Lease period and interest expenses on the Lease Liability in the statement of Profit & Loss.

The Company has eLected not to appLy the requirements of Ind AS 116 to certain Leases which are expiring within 12 months from the date of transition of leases for which the underlying asset is of Low value.

The Company during the year ended March 31, 2023 has recognised Lease LiabiLites amounting to ' 42,512.63 (‘000) and ' 6,395.95 (‘000) towards the Long term Lease contracts for Office premises and VehicLe respectively.

TotaL Lease rentaLs and interest on Lease Liabilities accounted for the year ended March 31, 2024 is ' 19,376.34 (‘000) and ' 2,061.38 (‘000) respectively (previous year ended March 31, 2023: ' 12,386.99 (‘000) and ' 2,537.92 (‘000) respectively).

Lease Modification:

(i) Considering that there has been a change in the consideration payabLe for the Lease payments on account of deferring of the rent escalation by one month, it has Led to a modificition in the terms of the Lease contract and hence we have treated it as a Lease modification transaction

(ii) Wherein the Lease Liability has been reassessed from the date of modification considering the revised rate of discounting the Lease payments

(iii) This has Led to an increase in the Lease Liability by ' 240.510 (' in ‘000) the corresponding effect of which has been given to the ROU Asset.

(iv) Further the increase in the ROU Asset wiLL be ammortised over the remaining Lease duration of 24 months.

Further Company’s Leasing agreements in respect of operating Lease for office premises and computers which are not non-cancelable and the aggregate lease rentals payable are charged as rent.

The TotaL Lease payments accounted for the year ended March 31, 2024 is ' 3,406.99 (‘000) (previous year ended March 31, 2023 is ' 3,334.32 (‘000)).

NOTE 37: EMPLOYEE BENEFITS

a) Defined Contribution Plan

Provident Fund and Employee State Insurance (ESIC):

The contributions to the Provident Fund and ESIC of certain employees are made to a Government administered Provident Fund and ESIC and there are no further obligations beyond making such contribution on the Company.

b) Defined Benefit Plan

Gratuity:

The Liability in respect of future payment of gratuity to retiring employees on retirement is provided on the basis of actuaL number of year’s entitlement pending to be paid as at the end of each year. The Company estimates and provides the Liability towards gratuity on the basis of actuarial valuation made at the end of the year.

These benefit pLans expose the Company to actuarial risks, such as Longevity risk, interest rate risk and investment risk.

c) Amounts Recognised as Expense:

I) Defined Contribution Plan:

Employer’s Contribution to Provident Fund, ESIC and LWF amounting to ' 2,085.91 (‘000) (31^st March 2023: ' 1,705.91 (‘000)) has been incLuded under Contribution to Provident and Other Funds.

c) Amounts Recognised as Expense:

II) Defined Benefit Plan:

a. Gratuity cost amounting to ' 1,196.70 (‘000) (31^st March 2023: ' 1,022.29 (‘000)) has been induded in Note 29 under the head of employee benefit expenses.

b. Remeasurement (gain)/Loss on defined benefit pLan amounting to ' (71.86) (‘000) (31^st March 2023: ' 307.62 (‘000)) is credited to statement of Other comprehensive Income

ALthough the analysis does not take account of the fuLL distribution of cash fLows expected under the pLan, it does provide an approximation of the sensitivity of the assumptions shown.

The method and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

x) Risk exposure

Through its defined benefit pLans, the Company is exposed to a number of risks, the most significant of which are detailed below:

Interest Rate Risk: The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields faLL, the defined benefit obligation wiLL tend to increase.

Salary Inflation risk: Higher than expected increases in salary wiLL increase the defined benefit obLigation.

Demographic Risk: This is the risk of variability of results due to unsystematic nature of decrements that indude mortality, withdrawal, disability and retirement The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typicaLLy costs less per year as compared to a long service employee.

III) Compensated absences:

The leave obligations cover the Company’s liability for earned leave.

(IV) Employee Stock Option Plan (ESOP):

Xelpmoc Design & Tech Employee Stock Option Scheme 2019 (“ESOP 2019”)

Pursuant to shareholders approvaL by way of a speciaL resolution in the AnnuaL GeneraL meeting heLd on September 27, 2019, the Nomination and Remuneration Committee and Board of Directors has been authorized to create, grant, offer, issue and aLLot from time to time, in one or more tranches, options not exceeding 8,22,300 (Eight Lakhs Twenty Two Thousand Three Hundred OnLy) representing nearLy 6% of the paid up equity share capitaL of the Company as on August 06, 2019, exercisabLe into 8,22,300 (Eight Lakhs Twenty Two Thousand Three Hundred) Equity Shares of ' 10/- each of the Company to or for the benefit of permanent empLoyees of the Company (present & future). Further, the Company has obtained SharehoLders approvaL through postaL baLLot by speciaL resoLution dated February 19, 2020 in respect of grant of Stock Options under XeLpmoc Design and Tech Limited ESOP Scheme 2019 to the identified empLoyees of the Company, during any one year equaL to or exceeding 1% of the issued capitaL of the Company at the time of grant of option. The Option granted under ESOP 2019 shaLL vest based on the achievement of defined annuaL performance parameters as determined by the administrator (Nomination and Remuneration Committee/Board of Directors). These instruments wiLL be equity settLed and wiLL generaLLy vest as determined by the administrator. The Company has received in-principLe approvaL for Listing from BSE and NSE on JuLy 31, 2020 and June 23, 2020 respectiveLy.

Xelpmoc Design & Tech Employee Stock Option Scheme 2020 (“ESOP 2020”)

Pursuant to sharehoLders approvaL by way of a speciaL resoLution in the AnnuaL GeneraL meeting heLd on September 30, 2020, the Nomination and Remuneration Committee and Board of Directors has been authorized to create, grant, offer, issue and aLLot from time to time, in one or more tranches, options not exceeding 5,00,000 (Five Lakhs OnLy) representing nearLy 3.65% of the paid up equity share capitaL of the Company as on August 14, 2020, exercisabLe into 5,00,000 (Five Lakhs OnLy) Equity Shares of ' 10/- each of the Company to or for the benefit of permanent empLoyees of the Company (present & future). The Option granted under ESOP 2020 shaLL vest based on the achievement of defined annuaL performance parameters as determined by the administrator (Nomination and Remuneration Committee/Board of Directors). These instruments wiLL be equity settLed and wiLL generaLLy vest as determined by the administrator. The Company has received in-principLe approvaL for Listing from BSE and NSE on January 11, 2021 and January 04, 2021 respectiveLy.

Fair value hierarchy

The fair vaLue hierarchy is based on inputs to valuation techniques that are used to measure fair vaLue that are either observabLe or unobservabLe and consists of the following three levels:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

The cost of unquoted investments included in Level 3 of fair value hierarchy approximate their fair value because there is a wide range of possible fair value measurements and the cost represents estimate of fair value within that range.

B. Measurement of fair values

Valuation techniques and significant unobservable inputs

The following tables show the valuation techniques used in measuring Level 2 and Level 3 fair values, as weU as the significant unobservable inputs used.

A. Management of Market Risk

Market risk is the risk that the fair vaLue or future cash flows of a financial, instrument wiLL fluctuate because of changes in market prices. Market risk comprises of three types of risks: interest rate risk, price risk and currency rate risk. Financial instruments affected by market risk includes borrowings, investments and derivative financial instruments.

(i) Management of interest rate risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument wifi fluctuate because of changes in market interest rates. The Company does not have any exposure to interest rate risks since it has no borrowings.

(ii) Management of price risk:

The Company invests its surplus funds in various unlisted equity and preference shares. Investments in unlisted equities and preference shares are susceptible to market price risk, arising from changes in availability of future free cash flow which may impact the return and value of the investments. The Company mitigates this risk by periodicafly evaluating the performances of the investee Company.

(iii) Management of currency risk:

Currency risk is the risk that the fair value or future cash flows of a financial instrument wifi fluctuate because of changes in foreign exchange rates. The Company has foreign currency trade receivables and is therefore exposed to foreign exchange risk. The Company mitigates the foreign exchange risk by setting appropriate exposure Limits and periodic monitoring of the exposures. The exchange rates have been volatile in the recent years and may continue to be volatile in the future. Hence the operating results and financiaLs of the Company may be impacted due to voLatiLity of the rupee against foreign currencies.

NOTE 38: FINANCIAL RISK MANAGEMENT

The activities of the Company exposes it to a number of financiaL risks nameLy market risk, credit risk and liquidity risk. The Company seeks to minimize the potential impact of unpredictability of the financial markets on its financial performance.

B. Management of Credit Risk

Credit risk refers to the risk of defauLt on its obligations by a counterparty to the Company resulting in a financial. Loss to the Company. The Company is exposed to credit risk from its operating activities (trade receivables) and from its financing activities including investments in unlisted securities, foreign exchange transactions and financial instruments.

Credit risk from trade receivables is managed through the Company’s policies, procedures and controLs reLating to customer credit risk management by establishing credit limits, credit approvals and monitoring creditworthiness of the customers to which the Company extends credit in the normaL course of business. Outstanding customer

receivabLes are reguLarly monitored. The Company has no concentration of credit risk as the customer base is widely distributed.

Other receivabLes consist primariLy of security deposits, advances to empLoyees and other receivables. The risk of default is assessed as Low.

Security deposits indudes amounts due in respect of certain lease contracts.

The risk of default is considered Low as the counterparties represent apart from the governmental authority large, web established companies within India.

Credit risk from investments of surplus funds is managed by the Company’s treasury in accordance with the Board approved policy and limits. Investments of surplus funds are made only with those counterparties who meet the minimum threshold requirements as prescribed by the Board. The Company monitors the financial strength of its counter parties and adjusts its exposure accordingly.

Credit risk on cash and cash equivalents is assessed as Low risk as the Company does not have any deposits and the entire amount represents balance in current account with banks.

Credit risk for trade receivables is evaluated as follows:

Expected credit Loss for trade receivables and unbiLLed revenue under simplified approach.

The Company is required to discLose segment information based on the ‘management approach’ as defined in Ind AS 108

Operating Segments, which in how the Chief Operating Decision Maker (CODM) evaluates the Company’s performance and aLLocates resources based on the anaLysis of the various performance indicators. In the case of the Company, the CODM reviews the resuLts of the Company as a whoLe as the Company is primarily engaged in the business of software development services. AccordingLy, the Company is a singLe CGU, hence singLe segment Company. The information as required under Ind AS 108 is avaiLabLe directLy from the financiaL statements, hence no separate discLosures have been made.

The Indian Parliament has approved the Code on SociaL Security, 2020 which wouLd impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company wiLL assess the impact and its evaluation once the subject rules are notified and wiLL give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

NOTE 42: EVENTS AFTER THE REPORTING PERIOD

There were no events that occurred after the reporting period i.e. 31 March, 2024 upto the date of approval of financial statements that require any adjustment to the carrying value of assets and Liabilities.

NOTE 44: RECENT PRONOUNCEMENT

Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) RuLes as issued from time to time. For the year ended March 31, 2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Group.

NOTE 45: SUBSIDIARIES/ASSOCIATES

During the year, the Board of Directors reviewed the affairs of the subsidiaries, in accordance with Section 129(3) of the Companies Act, 2013, a statement containing the saLient features of the financiaL statements of our subsidiaries in the prescribed format AOC-1 is appended in the Board’s report.

NOTE 46: DISCLOSURE AS PER SCHEDULE III OF COMPANIES ACT, 2013

(i) The Company doesn’t hoLd any immovable property whose titLe deeds are not heLd in the name of the Company.

(ii) The Company does not have any benami properties. There are no proceedings initiated or pending against the Company for hoLding Benami property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and ruLes thereunder.

(iii) The Company doesn’t hoLd any Investment property hence the fair vaLue of investment property (as measured for discLosure purposes in the financiaL statements) based on the vaLuation by a registered vaLuer as defined under ruLe 2 of Companies (Registered VaLuers and VaLuation) RuLes, 2017 is not appLicabLe.

(iv) The Company has not revaLued its Property, PLant and Equipment (incLuding Right of used assets) hence the revaLuation based on the vaLuation by a registered vaLuer as defined under ruLe 2 of Companies (Registered VaLuers and VaLuation) RuLes, 2017 is not appLicabLe.

(v) The Company has not revaLued its intangibLe assets hence the revaLuation based on the vaLuation by a registered vaLuer as defined under ruLe 2 of Companies (Registered VaLuers and VaLuation) RuLes, 2017 is not appLicabLe.

(vi) 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 repayabLe on demand or without specifying any terms or period of repayment, hence the additional discLosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe.

(vii) The Company is not decLared as a ‘wiLfuL defauLter’ by any bank or financiaL institution or other lender, hence the additional disclosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe.

(viii) The Company does not have any transactions and there are no outstandingbaLance with struck off companies under Section 248 of Companies Act 2013 or Section 560 of Companies Act 1956.

(ix) There is no charges or satisfaction yet to be registered with Registrar of Companies (ROC).

(x) The Company has compLied with the number of Layers prescribed under cLause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) RuLes, 2017, hence the additionaL discLosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe.

(xi) The Company has not borrowed funds from Banks or FinanciaL institutions, hence the additionaL discLosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe

(xii) The Company has not invested (either borrowed funds or share premium or any other source or kind of funds) to any other person(s) or entity(ies) incLuding Foreign entities (Intermediaries), hence the additionaL discLosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe

(xiii) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, hence the additionaL discLosure in terms of the amendments to ScheduLe III of the Company Act, 2013 is not appLicabLe

(xiv) The Company has not advanced or Loaned or invested funds to any other person(s) or entity(ies), including foreign entity(ies) (intermediaries) with the understanding that the intermediary shaU:

(a) 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

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

(xv) The Company has not received any fund from any other person(s) or entity(ies), including foreign entity(ies) (funding party) with the understanding (whether recorded in writing or otherwise) that the funding party shaU;

(a) directly or indirectly lend or invest in other persons or entities indentified 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.

(xvi) The Company has no such transactions which are not reported in the books of accounts that has been surrendered or discLosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless there is immunity for disclosure under any scheme and the Company aLso has no such previously unrecorded income and related assets which needs to be recorded in the books of account during the year.

(xvii) The Company is not covered under Section 135 of the Companies Act, 2013 in the current Financial year, hence the additional disclosure in terms of the amendments to Schedule III of the Company Act, 2013 is not applicable.

(xviii) The Company has not traded or invested in crypto currency or virtuaL currency, hence the additional disclosure in terms of the amendments to Schedule III of the Company Act, 2013 is not applicable