(d) Terms/ rights attached to Equity Shares

The Company has only one class of Equity Shares having a par value of Rs. 10 per share. Each holder of Equity Shares is entitled
to one vote per share. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion to their shareholding.

(e) Bonus shares issued

(1) The board of directors of the company in the Board Meeting Dated 01st June, 2024 and shareholders of the company in
the extra ordinary general meeting dated 03rd June,2024 pursuant to section 63 of Companies Act,2013 and rules made
thereunder, proposed a sum of Rs. 529.25 lakhs to be capitalized as bonus equity shares out of free reserves and
surplus, and distributed amongst the equity shareholders by issue of 52,92,541 share in the proportion of 5 (Five) new
fully paid equity share of Rs. 10/. each (Rupees Ten) for every 10 (Ten) existing fully paid-up equity shares of Rs. 10/.
(Rupees Ten).

(2) The board of directors of the company in the Board Meeting Dated 07 July, 2025 and shareholders of the company in
the extra ordinary general meeting dated 06 August,2025 pursuant to section 63 of Companies Act,2013 and rules made
thereunder, proposed a sum of Rs. 2173.76 lakhs to be capitalized as bonus equity shares out of free reserves and
surplus, and distributed amongst the equity shareholders by issue of 2,17,37,631 share in the proportion of 1 (one) new
fully paid equity share of Rs. 10/. each (Rupees Ten) for every 1 (One) existing fully paid-up equity shares of Rs. 10/.
(Rupees Ten).

(f) Fresh Issue (IPO)

During the previous year ended 31,03,2025, the Company came up with an Initial Public Offer of 58,60,000 shares of face value
Rs. l0 per share at a Premium of Rs. 158 per share. These 58,60,000 equity shares were successfully subscribed by the public
and Company has made allotment of these equity shares on 29th October, 2024.

#Opening retained earnings for Rs. 3557.86 Lakhs as at 01.04.2024 includes an amount of Rs. 948.28 Lakhs arising due to fair
valuation of assets as fair value is taken as deemed cost as per Para D5 of Ind AS 101.

Nature and purpose of reserves

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

Retained earnings: Retained earnings represents the surplus in Profit and Loss Account post appropriations made from retained
earnings.

Reserve fund as per RBI Act: Every year the Company transfers a sum of not less than twenty percent of net profit of that year to
this statutory reserve fund created pursuant to section 45-IC (1) of the Reserve Bank of India Act, 1934. No appropriation of any
sum from the reserve fund is permitted except for the purpose as may be specified by the Reserve Bank of India from time to
time.

Note 36: Employee benefit Plan
(A) Defined benefit Plan

The defined benefit plan operated by the Company is as below:

Retiring gratuity

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan
provides for a lump-sum payment to vested employees at retirement, death while in employment or on termination of
employment of an amount equivalent to 26 days salary payable for each completed year of service. Vesting occurs upon
completion of five years of service. The Company does not make any contributions to gratuity funds and the plan is unfunded.
The Company accounts for the liability for gratuity benefits payable in the future based on an actuarial valuation.

The defined benefit plans expose the Company to a number of actuarial risks as below:

(a) Interest risk: A decrease in the bond interest rate will increase the plan liability.

(b) Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan
participants. As such, an increase in the salary of the plan participants will increase the plan''s liability.

(c) Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the
mortality of plan participants. An increase in the life expectancy of the plan participants will increase the plan''s liability.

The following table sets out the amounts recognised in the financial statements in respect of retiring

(B) Defined Contribution Plan Provident fund and pension

In accordance with the Employee''s Provident Fund and Miscellaneous Provisions Act, 1952, eligible employees of the Company
are entitled to receive benefits in respect of provident fund, a defined contribution plan, in which both employees and the
Company make monthly contributions at a specified percentage of the covered employees'' salary. The contributions, as
specified under the law, are made to the employee provident fund organization (EPFO).

The total expenses recognised in the statement of profit and loss during the year on account of defined contribution plans
amounted to Rs. 15.53 Lakhs (PY: Rs. 12.37 Lakhs)

Note 37: Capital Management

The Company''s objective is to maintain appropriate levels of capital to support its business strategy taking into account the
regulatory, economic and commercial environment. The Company aims to maintain a strong capital base to support the risks
inherent to its business and growth strategies. The Company endeavours to maintain a higher capital base than the mandated
regulatory capital at all times.

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves
attributable to the equity holders of the Company. Further, The Company actively manages the capital base to cover risks
inherent in its business and ensure maintenance of capital adequacy requirement as prescribed by the RBI.

The Company monitors its capital to risk-weighted assets ratio (CRAR) on a monthly basis. The Company endeavours to
maintain its CRAR higher than the mandated regulatory norm. Accordingly, increase in capital is planned well in advance to
ensure adequate funding for its growth.

Note - 38: Impairment of Assets

In accordance with the Indian Accounting Standard (IndAS-36) on "Impairment of Assets" the Company has, during the year,
carried out an exercise of identifying the assets that may have been impaired in respect of cash generating unit in accordance
with the said Indian Accounting Standard. Based on the exercise, no impairment loss is required as at March 31, 2026, March
31, 2025 or April 01, 2024.

Note - 39: Financial Instruments

This note 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 significant accounting policy in relation to financial instruments is
contained in Note 1.

i) Financial assets and liabilities- The following tables present the carrying value and fair value of each category of financial assets
and liabilities as at March 31, 2026, March 31, 2025 and April 01, 2024.

(ii) Fair value hierarchy

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the
principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price),
regardless of whether that price is directly observable or estimated using a valuation technique. In order to show how fair values
have been derived, financial instruments are classified based on a hierarchy of valuation techniques.

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value,
grouped into Level 1 to Level 3, as described below:

Quoted prices in an active market (Level 1): This level of hierarchy includes financial assets that are measured by reference to
quoted prices in active markets for identical assets or liabilities. The company does not hold any financial instrument which is
covered under this category.

Valuation techniques with observable inputs (Level 2): This level of hierarchy includes financial assets and liabilities, measured
using inputs 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). The company does not hold any financial instrument which is covered under this
category. Valuation techniques with significant unobservable inputs (Level 3): This level of hierarchy includes financial assets and
liabilities measured using inputs that are not based on observable market data (unobservable inputs). The company does not
hold any financial instrument which is covered under this category.

Note 44 Contingent Liabilities and Commitments

During the previous year ended 31.03.2025, the Company received a demand notice for Rs. 549.52 Lakhs from the Income Tax
Department for the Assessment Year 2019-20. The demand pertains to an addition to income made by the Department in
respect of certain unsecured loans received by the Company. The Company did not agree with the demand and had filed an
appeal with the Commissioner of Income Tax (Appeals) [CIT(A)] on 18/04/2025. The Company expects a favourable outcome in
the appeal; accordingly, the amount has been disclosed as a contingent liability.

As per Ind AS 101, an entity should apply the derecognition requirement in Ind AS 109, Financial Instrument, prospectively
for transition occurring on or after the date of transition to Ind AS. However, an entity may apply the derecognition
requirement retrospectively from a date chosen by it if the information needed to apply Ind AS 109 to financial assets and
financial liabilities derecognized as a result of past transactions was obtained at the time of initially accounting for those
transactions

Accordingly, the Company has opted to apply derecognition requirement prospectively for transaction occurring on or after the
date of transition.

(B) Optional exemptions availed

Ind AS 101 "First time Adoption of Indian Accounting Standards" permits Companies adopting Ind AS for the first time to take
certain exemptions from the full retrospective application of Ind AS during the transition. The Company has accordingly on
transition to Ind AS availed the following key exemptions:

(i) Property, plant and equipment:

As per Ind AS 101, an entity may elect to measure an item of property, plant and equipment at the date of transition to Ind
AS at its fair value and use that fair value as its deemed cost at that date. As permitted by Ind AS 101, the Company has
elected to take fair value of property, plant and equipment as its deemed cost at the date of transition.

(ii) Leases

As per Para D 9 of Ind AS 101 ”A first time adopter may assess whether a contract existing at the date of transition to Ind AS
contains a lease on the basis of facts and circumstances existing at the date of transition”. The Company has accordingly
carried out these assessments based on facts and circumstances as at 01.04.2025.

(i) Financial instruments - EIR adjustment of transaction costs/incomes integral to the sourcing of loans/borrowings- Under previous
GAAP, all the transaction costs/incomes integral to sourcing of loans/borrowings were recognised upfront on an accrual basis.
Under Ind AS, these transaction costs/incomes related to sourcing of loans/borrowings are amortised using the effective interest
rate (EIR) and the unamortised portion is adjusted in retained earnings as at the date of transition and subsequently in the
Statement of Profit and Loss for the year ended March 31, 2025.

(ii) Property, plant and equipment-The Company has elected to take the fair value of Property, Plant and Equipment as its deemed
cost on the date of transition. The resulting change in fair value of assets has resulted into changes in the depreciation charge for
the year as well as increase in other equity due to fair valuation.

(iii) Impairment of financial assets-Under previous GAAP, loan losses and provisions were computed basis RBI guidelines and
Management estimations. Under Ind AS, the same is required to be computed as per the impairment principles laid out in Ind
AS 109 - ''Financial Instruments'' which prescribes the expected credit loss model (ECL model) for the same. Accordingly, the
difference between loan losses and provisions as computed under previous GAAP and as computed under Ind AS is adjusted in
retained earnings as at the date of transition and subsequently in the Statement of Profit and Loss for the year ended March 31,
2025.

(iv) Deferred taxes-(i) The impact of transition adjustment together with Ind-AS mandate of using balance sheet approach for
computation of deferred taxes has resulted in charge to the other equity, on the date of transition, with consequential impact to
the Profit and Loss Account for the subsequent periods.

(v) Employee benefits-Under Ind AS, remeasurements i.e. actuarial gains and losses and the return on plan assets, excluding
amounts included in the net interest expense on the net defined benefit liability are recognised in other comprehensive income
instead of profit or loss. Under the previous GAAP, these remeasurements were forming part of the Statement of Profit and Loss
for the year. There is no impact on the total equity.

(vi) Other comprehensive Income-Under Ind AS, all items of income and expense recognised in a period should be included in profit
or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognised in
profit or loss but are shown in the Statement of Profit and Loss as ''other comprehensive income'' includes actuarial gain/loss on
defined benefit plan. The concept of other comprehensive income did not exist under previous GAAP. Consequently, the tax
effect of the same has also been recognized in the Other Comprehensive Income under Ind AS.

Note 51 Other Notes

(i) Figures for the previous year have been re-grouped/ rearranged/ restated wherever necessary to make them comparable with those of the
current year.

(ii) In the opinion of the Board of Directors and Management, all the assets other than, Property, Plant and Equipment, Intangible assets and non¬
current investments have a value on realisation in the ordinary course of business which is at least equal to the amount at which they are stated.

(iii) The Company does not have any immovable property whose title deed is not held in name of the company.

(iv) The company does not have any Benami property, where any proceeding has been initiated or pending against the company for holding any
Benami property.

(v) The company does not have borrowings from the bank or financial institutions where quarterly returns or statement of current assets to be filed
with such bank/financial institution.

(vi) The company has not done any transactions with companies struck off under section 248 of the companies Act 2013 or section 560 of companies
Act 1956.

(vii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

(viii) The Company has complied with the number of layers for its holding in downstream companies prescribed under clause
(87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

(ix) Company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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 behalf of the company (Ultimate Beneficiaries) or (b)
provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(x) The Company has not received any fund from any person(s) or entity(is), 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.

(xi) The Company does not have any 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.

(xii) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

2.11 Provisions, contingent liabilities and contingent assets

A provision is recognized when there is present obligation as a result of past event and it is
probable that an outflow of resources will be required to settle the obligation, in respect of which
a reliable estimate can be made. Provisions are determined based on best estimates required to
settle the obligation at the balance sheet date. These are reviewed at each balance sheet date
and adjusted to reflect the current management estimates. Loss contingencies aris ing from
claims, litigation, assessment, fines, penalties, etc., are recorded when it is probable that a
liability has been incurred and the amount can be reasonably estimated

2.12 Classification and provisioning on receivables from financing activities

Receivable from financing activities are recognised on disbursement of loan to customers. The
details of the policy are given below:

Receivable from financing activities are classified as standard, sub - standard and doubtful
assets and provided for as per the Company’s policy and Management’s estimates, subject to
the minimum classification and provisioning norms as per the Master Direction - Non-Banking
Financial Company - Scale Based Regulation) Directions, 2023.

“Overdue” refers to interest and / or principal and / or instalment remaining unpaid from the day it
became receivable.

“NPA” refers to account remaining overdue for period of 90 days or more

d) Under exceptional circumstances, Management may renegotiate loans by rescheduling repayment
terms for customers who have defaulted in repayment but who appear willing and able to repay
their loans under a longer term agreement. Rescheduled Standard Assets are classified / provided
for as Sub-Standard Assets as per (b) above which classification / provisioning is retained for a
period of 1 year of satisfactory performance. Rescheduled Non Performing Assets are not upgraded
but are retained at the original classification / provisioning for a period of 1 year of satisfactory
performance.

2.13 Operating Cycle

Assets and liabilities are classified as current and non-current based on the operating cycle which
has been estimated to be 12 months. All assets and liabilities which are expected to be realized
and settled, within a period of 12 months from the date of Balance sheet have been classified as
current and other assets and liabilities are classified as non-current. All Non-Performing Assets are
classified as non-current.

\ \ \ 1 I

B. Terms/rights attached to shares

The company has only one class of equity shares having a par value of Rs. 10 per share.
Each holder of equity shares is entitled to one vote per share. During the period ended 31 st
March 2025 the company did not recognize dividend as distributions to equity shareholders.
In the event of liquidation, the equity shareholders are eligible to receive the remaining asset
of the company after distribution of all preferential amount in proportion to their shares.

The board of directors of the company in the Board Meeting Dated 01 st June, 2024 and
shareholders of the company in the extra ordinary general meeting dated 03rd
June,2024 pursuant to section 63 of Companies Act,2013 and rules made thereunder,
proposed a sum of Rs. 529.25 lakhs to be capitalized as bonus equity shares out of
free reserves and surplus, and distributed amongst the equity shareholders by issue
of 52,92,541 share in the proportion of 5 (Five) new fully paid-up equity share of Rs.
10/- each (Rupees Ten) for every 10 (Ten) existing fully paid-up equity shares of Rs. 10/.
(Rupees Ten).

27 Employee benefit Plan
A Defined Benefit plan
Retiring gratuity

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible
employees. The plan provides for a lump-sum payment to vested employees at retirement, death while in
employment or on termination of employment of an amount equivalent to 26 days salary payable for each
completed year of service. Vesting occurs upon completion of five years of service. The Company does not
make any contributions to gratuity funds and the plan is unfunded. The Company accounts for the liability
for gratuity benefits payable in the future based on an actuarial valuation.

The defined benefit plans expose the Company to a number of actuarial risks as below:

a. Interest risk: A decrease in the bond interest rate will increase the plan liability.

b. Salary risk: The present value of the defined benefit plan liability is calculated by reference to the
future salaries of plan participants. As such, an increase in the salary of the plan participants will
increase the plan’s liability.

c. Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the
best estimate of the mortality of plan participants. An increase in the life expectancy of the plan
participants will increase the plan’s liability.

31 Segment Reporting

The Company is an NBFC engaged primarily in the business of Lending and all its operations are in
India only. Accordingly, there are no separate reportable segments as per Accounting Standard 17 -
“Segment Reporting”.

32 Contingent Liabilities and Commitments

The Company received a demand notice from the Income Tax Department for the Assessment Year
2019-20 on 27/03/2025. The demand pertains to an addition to income made by the Department in
respect of certain unsecured loans received by the Company. The Company does not agree with
the demand and has filed an appeal with the Commissioner of Income Tax (Appeals) [CIT(A)] on
18/04/2025. The Company expects a favourable outcome in the appeal; accordingly, the amount
has been disclosed as a contingent liability.

(1 )As on March 31, 2025, the Company has unsecured loan exposures of ^445.25 lakhs and
^247.17 lakhs to two borrowers, with EMIs overdue for 602-619days. A 20% provision has
been made as per the Company''s policy, as none of the loans have crossed the 630-days
threshold as on 31 st March 2025, for full provisioning.

(2) Insolvency proceedings have been initiated against a borrower with an outstanding
secured loan of ^1,212.46 lakhs as on March 31, 2025. The Company expects favorable
recovery and has made provisioning as per its policy and applicable RBI norms

38 Other disclosures/information

Additional information required as per Schedule III of the Companies Act, 2013 :

(i) Details of benami property held

No proceedings have been initiated or are pending against the Company as at March
31,2025 for holding benami property under the Benami Transactions (Prohibition) Act (45of
1988), as amended and rules made thereunder.

(ii) Wilful defaulter

The company is not declared wilful defaulter by any bank, financial institution or lender as at
^{March 31}''²⁰²⁵.

(iii) Relationship with struck off companies

There are no transactions made by the Company during the year with struck off companies
as at March 31,2025.

(iv) Compliance with number of layers of companies

The Company does not have any subsidiary or Associate or Joint Venture company during

(v) Compliance with approved scheme(s) of arrangements

During the year, no scheme of arrangements in relation to the Company has been approved
by the competent authority in terms of Section 232 to 237 of the Companies Act,2013.
Accordingly, this clause is not applicable to the company.

(vi) Utilization of borrowed funds and share premium

As a part of normal lending business, the company grants loans and advances on the basis
of security/guarantee provided by the Borrower/Co-borrower. These transactions are
conducted after exercising proper due diligence. Other than transactions described above,
during the year the Company has not advanced or lend or invested funds (either from the
borrowed funds or share premium or any other sources or kind of funds) to any person or
entity, including foreign entity (Intermediaries) with the understanding (whether recorded in
writing or otherwise) that the Intermediary shall (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 The Company has not received any fund from any person
or entity, including foreign entity (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

(vii) Undisclosed income

The Company does not have any unrecorded transactions in the books of account which
have been surrendered or disclosed as Income during the year in the tax assessment under
the Income Tax Act, 1961.

(viii) Transactions in crypto currency or virtual currency

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

(ix) Revaluation of property, plant & equipment and intangible asset

The Company has not revalued its property, plant and equipment (including right-of-use
assets) or intangible assets or both during the year ended March 31,2025.

•Am U

(x) Registration of charges or satisfaction with Registrar of Companies

There are no charges or satisfaction which are pending to be registered with the Registrar of
Companies as on March 31,2025.

39 Previous year figures have been regrouped/reclassified to confirm to current year
classification

As per our report of even date

For KRA & Co. For and on behalf of the Board of Directors

Chartered Accountants USHA FINANCIAL SERVICES LIMITED

Firm Regd. No.020266N

Rajesh Gupta Geeta Goswami

Sd/- Managing Director CEO & Director

Rajat Goyal DIN-01941985 DIN: 07810522

Membership No. : - 503150 Sd/- Sd/-

UDIN: 25503150BMJBYU9923 Prashant Raghuwanshi Kritika

Place: New Delhi CFO Company Secretary

Dated: 12/05/2025 M.No. : 460716 M.No : 65161

2.11 Provisions, contingent liabilities and contingent assets

A provision is recognized when there is present obligation as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are
determined based on best estimates required to settle the obligation at the balance sheet date. These are reviewed at each
balance sheet date and adjusted to reflect the current management estimates. Loss contingencies arising from claims,
litigation, assessment, fines, penalties, etc., are recorded when it is probable that a liability has been incurred and the
amount can be reasonably estimated

2.12 Classification and provisioning on receivables from financing activities

• Receivable from financing activities are recognised on disbursement of loan to customers. The details of the policy are
given below:

• Receivable from financing activities are classified as standard, sub - standard and doubtfitl assets and provided for as per
the Company s policy and Management’s estimates, subject to the minimum classification and provisioning norms as per
the Master Direction - Non-Banking Financial Company - Non-Systemically Important Non-Deposit taking Company
(Reserve Bank) Directions, 2016.

d) Under exceptional circumstances, Management may renegotiate loans by rescheduling repayment terms for customers who
have defaulted in repayment but who appear witling and able to repay their loans under a longer term agreement.
Rescheduled Standard Assets are classified / provided for as Sub-Standard Assets as per (b) above which classification /
provisioning is retained for a period of 1 year of satisfactory performance. Rescheduled Non Performing Assets are not
upgraded but are retained at the original classification / provisioning for a period of 1 year of satisfactory performance.

2.13 Operating cycle

Assets and liabilities are classified as current and non-current based on the operating cycle which has been estimated to be 12
months. All assets and liabilities which are expected to be realized and settled, within a period of 12 months from the date of
Balance sheet have been classified as current and other assets and liabilities are classified as non-current. All Non-Performing
Assets are classified as non-current.

Note No. S^iil

Terns and conditions of secured loans and nature of security

a. During the year the company has issued following NCD as mentioned below¬
- 500 Non Convertible Debentures(Series K) at the face value of Rs. 100000 each aggregating to Rs. 5,00,00,000 at
the coupon rate of 12%. These NCDs will mature in Sept 2026.

b. NCDs are secured byway of exclusive charge on identified pool of assets

c. Vehicle Loans HDFC Bank were secured against hypothecation of respective vehicles.

d. Secured Term loans from Banks and Financial institutions are secured by hypothecation of receivables as per their
respective loan agreements.

e. Term Loan form State bank of India & AU Small Finance Bank is further secured by way of collateral security of
a Residential Property and TL from City Union Bank is secured with Commercial Property held by UFSL.

f. Term loans from Grow Money Capital Pvt Ltd, Alwar Genera! Finance Co Pvt Ltd, MAS Financial Services Ltd,
TATA Capital Services Ltd and South Indian Bank are further secured by cash collateral in the shape of Fixed
deposit/ security deposit as per their loan agreement in addition to hypothecation of receivables.

37 Other disdosures/information

Additional information required as per Schedule III of the Companies Aci, 2013 :

(i) Details of benami property held

No proceeding!; have been milled or are pending against the Company as at March 31,2024 for holding benami property under the Benami Transactions (Prohibition) Act (45of i 988) as
amended and rules made thereunder.

(ii) Willful defaulter

The company is not declared willful defaulter by any bank, financial institution or lender as at March 31,2024.

(iii) Relationship with struck off companies

There arc no transactions made by the Company during the year with struck off companies as at March 31,2024.

(iv) Compliance with number of layers of companies

The Company does not have any subsidiary or Associate or Joint Venture company during the year.

(v) Compliance w ith approved scheme(s) of arrangements

During the year, no scheme of arrangements in relation to the Company has been approved by the competent authority in terms of Section 232 to 237 of the Companies Act,20[3, Accordinsiv
this clause is not applicable to the company. ⁶ 3''

(vi) Utilization of borrowed funds and share premium

« “77 ^bU!i"T 7 “^{mpany ffantS U}™^{S and advances ,hc basis of} «™.iy.’guunmtee provided by the Borrawur/CtHbormwor. These transactions arc conducted after

g proper due diligence, Other than transactions described above, during the year tire Company has not advanced or [end or invested funds [either train the borrowed funds or share
premium or any other sources or kind of tends) to any p™„ or entity, including foreign entity ([ntennediaries) with the understanding (whether

Intermediary shall (a directly or indirectly lend or invest ,n other persons or entities identified in any manner whatsoever by or on behalf of Che Company (Uftimate Beneficiaries) or (b) provide
any guaranlee secunty or the Like to or on behalf of the ultima* benefleiar.es The Company has not received any fund from any poson or entity, including foreign entity (Funding Parti) !ith the

^ , P ^ mil ''ⁿ TV''- °^thT^SC2^tha'' ^COmPa"^{y Sha}" ^{(a> J}''^{rertly i}“^lireCtl)'' ^le0tl ” ^inVeS''^{in 0ther} P^ers™^{s or} «•>*''<» tdcnlifiod in any imnper whatso^r 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

(vii) Undisclosed income

The Company does not have any unracorded transactions in the books of account which have been surrendered or disclosed as income during the year in the tax assessment under the Income Tax
(vlii) Transactions in crypto currency or virtual currency

The Company has not traded or invested in crypto currency of virtual currency during the year ended March 31. 2024.

(ii) Revaluation of property, plant & equipment and intangible asset

Titc Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the year ended March 31, 2024.

(*) Registration of charges or satisfaction with Registrar of Companies

There are no charges or satisfaction which are pending to be registered with the Registrar of Companies as on March 31,2024.

38 Previous year figures have been regrouped/reclassilied to confirm to current year classification

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

For KRA & Co. _USHA FINANCIAL SERVICES LIMITED f J /O

Chartered Accountants ... ^ . . , __ ( '' /

Frnrn Regd. No.02^6bN

ojdxc

_r,c., \%\ featsr

^{Partncr U} M-W—'' DIN-01941985 f Jg f U\ 11— /tlN-078f«5^7 / *

Membership No.503150 ^ ^V MVl/A ~ J ^DIN.U^W^Z/

Placet Mew Etelhi CA Prashant Raght^bF

Datcd: 05-Of. frjlf _CFO -- Company Secretary

M.No. : 450716 M.No: 65161