Notes to Accounts of Aar Shyam India Investment Company Ltd.

Mar 31, 2025

Provision. Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources. There is no
Contingent Assets & Liabilities.

Provision for Standard Assets

In accordance with Prudential Norms, contingent provision at 0.25% has been created on outstanding standard assets
which has been shown in balance sheet under the head provision in Non-Financial Liabilities.

There are no Sub-standard assets.

Cash Flow Statement

Cash flows are reported using the indirect method where by the profit before tax is adjusted for the effect of the
transactions of a non-cash nature, any deferrals or accruals of past and future operating cash receipts or payments and
items of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the company are segregated.

Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders
(after deducting attributable taxes) by the weighted-average number of equity shares outstanding during the year. The
weighted-average number of equity shares outstanding during the year is adjusted for events including a bonus issue.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity
shareholders and the weighted-average number of shares outstanding during the year are adjusted for the effects of
all dilutive potential equity shares.

Exceptional Items

When an item of income or expense within Statement of profit or loss from ordinary activity is of such size, nature or
incidence that their disclosure is relevant to explain the performance of the Company for the year, the nature and
amount of such items is disclosed as exceptional items.

23. In the opinion of the Board, all Financial Assets, Loans & Advances (Except where indicated otherwise)
collectively have a value on realization in the ordinary course of business at least equal to the amount at which
they are stated.

24. The Balances, as appearing in the Balance Sheet under the heads ‘Borrowing’ on the Liabilities side of the
Balance Sheet are subject to confirmation from parties.

25. The company is engaged in the business of non-banking financial activity. Since all the activities relate to
main activity, in the opinion of the management, there is only one business segment in terms of Ind AS-108
on segment reporting issued by ICAI.

29. Figures for the previous year have been regrouped or rearranged wherever necessary.

30. Disclosure of details as required by revised para 13 of Non-Banking Financial Companies Prudential Norms
(Reserve Bank) Directions, 2007, earlier para 9BB of Non- Banking Financial Companies Prudential Norms
(Reserve Bank) Directions, 1998.

31. Borrowing Cost: Interest and other cost incurred by the company in connection with the borrowing of funds
is recognized as an expense in the period in which they are incurred unless activities that are necessary
to prepare the qualifying assets for its intended use are in progress.

32. The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August
2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with
its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum.
Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006 (''MSMED Act):

33. No provision has been made on account of interest on overdue amount payable to MSME’s.

34. The Net Owned Funds of the company is ?3.56 crore as on 31st March, 2025 and Rs. 3.73 as on 31st March,

2024 which is inconsistent with Reserve Bank of India (Non-Banking Financial Company-Scale Based
Regulation) Directions, 2023 (Reference No. BI/DoR/2023-24/106,DoR.FIN.REC.No.45 /03.10.119/2023-
24) requiring minimum Net Owned Funds of Rs. 5 Crore. The management is in the process of surrendering
the registration certificate issued by the Reserve Bank of India (RBI). The company in the EGM held on May
16, 2025 has already approved the surrender of the certificate of registration issued by the Reserve Bank of
India Further, At the same EGM, the shareholders also passed the following resolutions as part of a broader
strategic repositioning:

• Alteration of the Object Clause of the Memorandum of Association (MoA): To change the primary
business activity from NBFC operations to manufacturing of FMCG products.

• Amendment to the Name Clause of the Articles of Association (AoA): To align the Company’s
name with its revised business objectives.

These developments reflect the Company''s decision to exit the NBFC sector and transition to manufacturing
operations.

35. Figures are rounded off to nearest thousands.

36. ADDITIONAL DISCLOSURE REQUIREMENTS

a. Registration of Charges or Satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

Compliance with Number of Layers of Companies:

The company does not have layers under clause (87) of section 2 of the Act read with Companies (Restriction on
number of Layers) Rules, 2017.

Utilization of Borrowed Funds and Share Premium

The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries)with the

understanding (whether recorded in writing or otherwise) that the Intermediary shall:

Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the company(Ultimate Beneficiaries) or

Provide any guarantee, security or the like to or on behalf of theUltimate Beneficiaries.

The Company has not received any fund from any person(s) or entity(ies),including foreign entities (Funding Party)
with the understanding (whetherrecorded in writing or otherwise) that the Company shall:

Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the FundingParty (Ultimate Beneficiaries) or

Provide any guarantee, security or the like on behalf of the UltimateBeneficiaries.

Undisclosed Income

There are no transactions which have not been recorded in the books of accounts and which have been surrendered or
disclosed as income during theyear in the tax assessments under the Income Tax Act, 1961.

Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual Currencyduring the financial year.

Disclosure of Benami Property

The Company does not possess any benami property under the BenamiTransactions (Prohibition) Act, 1985 and rules
made there under.

Wilful Defaulter

The Company has not been declared as Willful Defaulter by any Bank orFinancial Institution or other Lender.

Title Deeds of Immovable Properties Not Held in Name of the Company
The Company doesn’t have any immovable properties.

As per our report of even date

For STRG & ASSOCIATES For and on behalf of Board of Directors of

Chartered Accountants AAR Shyam India Investment Company Limited

FRN: 014826N

Sd/- Sd/-

CA Rakesh Gupta Sanyam Tuteja Abhijeet Yashwant Nagrale

(Partner) (Whole Time Director) (Director)

M. No.: 094040 DIN: 08139915 DIN: 05244787

Place: New Delhi
Date:

UDIN:25094040BMHUGR5959

Sd/- Sd/-

Pushpa Joshi Drishti Sidhwa

(CFO) (Company Secretary)

PAN: ATSPJ0459K PAN: FCSPS3517K

---

Mar 31, 2024

Provision, Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a
result of past events and it is probable that there will be an outflow of resources. There is no Contingent Assets & Liabilities.

Provision for Non-Performing Assets

In accordance with Prudential Norms, contingent provision at 0.25% has been created on outstanding standard assets which has
been shown in balance sheet under the head provision in Non-Financial Liabilities.

There are no Sub-standard assets.

Unless specifically stated to be otherwise, these policies are consistently followed.

21. In the opinion of the Board, all Financial Assets, Loans & Advances (Except where indicated

otherwise) collectively have a value on realization in the ordinary course of business at least equal to the amount at which
they are stated.

22. The Balances, as appearing in the Balance Sheet under the heads'' ‘Borrowing’ on the Liabilities side of the Balance
Sheet are subject to confirmation from parties.

23. Company has not made any Provision for liability of future payment of gratuity in the

current year. Further, no provision has been made for leave encashment benefits, as the company does not have a policy of
encashing leaves of employees.

24. The company is engaged in the business of non-banking financial activity. Since all the activities relate to main
activity, in the opinion of the management, there is only one business segment in terms of Ind AS-108 on segment reporting
issued by ICAI.

28. Figures for the previous year have been regrouped or rearranged wherever necessary.

29. Disclosure of details as required by revised para 13 of Non-Banking Financial Companies Prudential Norms
(Reserve Bank) Directions, 2007, earlier para 9BB of Non- Banking Financial Companies Prudential Norms (Reserve
Bank) Directions, 1998.

30. The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which
recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the
Entrepreneurs Memorandum Number as allocated after filing of the Memorandum. Disclosure under the Micro, Small and
Medium Enterprises Development Act, 2006 (''MSMED Act):

31. No provision has been made on account of interest on overdue amount payable to MSME’s.

32. Borrowing Cost: Interest and other cost incurred by the company in connection with the borrowing of funds are
recognized as an expense in the period in which they are incurred unless activities that are necessary to prepare the qualifying
assets for its intended use are in progress.

33. Figures are rounded off to nearest thousands.

34. Additional Disclosure Requirements

Registration of Charges or Satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

Compliance with Number of Layers of Companies:

The company does not have layers under clause (87) of section 2 of the Act read with Companies (Restriction on number of
Layers) Rules, 2017.

Utilization of Borrowed Funds and Share Premium

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

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

Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

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: -

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

Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Undisclosed Income

There are no transactions which have not been recorded in the books of accounts and which have been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

Details of Crypto Currency or Virtual Currency

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

Disclosure of Benami Property

The Company does not possess any benami property under the Benami Transactions (Prohibition) Act, 1985 and rules made
there under.

Willful Defaulter

The Company has not been declared as Willful Defaulter by any Bank or Financial Institution or other Lender.

Title Deeds of Immovable Properties Not Held in Name of the Company
The Company doesn’t have any immovable properties.

For STRG & ASSOCIATES For and on behalf of Board of Directors of

Chartered Accountants AAR Shyam India Investment Company Limited

Firm Registration No.: 014826N

CA Rakesh Gupta Sanyam Tuteja Abhijeet Nagrale

Partner Director Director

M. No. : 094040 DIN : 08139915 AEVPM3938D

Place: New Delhi
Date:29/05/2024

Pushpa Joshi Drishti Sidhwa

CFO Company Secretary

PAN: ATSPJ0459K PAN: FCSPS3517K