Notes to Accounts of Jindal Leasefin Ltd.

Mar 31, 2025

2.8 Provisions, Contingent Liability and Events After The Reporting Period
a) Provision

> A provision is recognised when an enterprise has a present obligation ( legal or constructive) as a
result of past event; it is probable that an out flow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
The expense relating to a provision is presented in the statement of profit or loss.

o If the effect of the time value of money is material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the tax specific to the liability. When discounting

is used, the increase in the provision due to the passage of time is recognised as a financial
cost.

> A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. The company does not recognize a
contingent liability but disclose its existence in the financial statements as per Note No. 29

2.9 Employee Benefits

i. ) Short-term employee benefit

All employee benefits falling due wholly within twelve months of rendering the services are classified as
short-term employee benefits, which include benefits like salaries, wages, short-term compensated absences
and performance incentives and are recognised as expenses in the period in which the employee renders the
related service

ii. ) Post-employment benefits

Company has not accounted any Post-Employment benefits and has not made any provision for post¬
employment benefits.

2.10 Operating Segments

The Chief Operational Decision Maker monitors the operating results of its business segments
separately for the purpose of making decisions about resource allocation and performance
assessment. Segment performance is evaluated based on profit and loss and is measured
consistently with profit and loss in the financial statements

The Operating segments have been identified on the basis of the nature of products/services.

> Segment revenue includes sales and other income directly identifiable with the segment
including intersegment revenue.

> Expenses that are directly identifiable with the segments are considered for determining the
segment results. Expenses which relate to the Group as a whole and not allocable to
segments are included under unallocable expenditure.

> Income which relates to the Group as a whole and not allocable to segments is included in
unallocable income.

> Segment result includes margins on inter-segment and sales which are reduced in arriving at
the profit before tax of the Group

> Segment assets and liabilities include those directly identifiable with the respective
segments. Unallocable assets and liabilities represent the assets and liabilities that relate to
the Group as a whole and not allocable to any segment.

2.11 Taxations

Tax expense recognized in Standalone Statement of Profit and Loss comprises the sum of deferred tax and
current tax except the ones recognized in other comprehensive income or directly in equity.

Current tax is determined as the tax payable in respect of taxable income for the year and is computed in
accordance with relevant tax regulations. Current income tax relating to items recognized outside profit or
loss is recognized outside profit or loss (either in other comprehensive income or in equity).

Minimum Alternate Tax (‘MAT’) credit entitlement is recognized as an asset only when and to the extent
there is convincing evidence that normal income tax will be paid during the specified period. In the year in
which MAT credit becomes eligible to be recognized as an asset, the said asset is created by way of a credit
to the Standalone Statement of Profit and Loss and shown as MAT credit entitlement. This is reviewed at
each balance sheet date and the carrying amount of MAT credit entitlement is written down to the extent it is
not reasonably certain that normal income tax will be paid during the specified period.

Deferred tax is recognized on temporary differences between the carrying amount of assets and liabilities in
the financial statement and the corresponding tax bases used in computation of taxable profit under Income
Tax Act, 1961.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date. Deferred tax relating to items recognized outside Standalone
Statement of Profit and Loss is recognized outside Standalone Statement of Profit and Loss (either in other
comprehensive income or in equity).

2.12Earnings per share/

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. 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 is adjusted for the effects of all dilutive potential equity shares.

The weighted average number of equity shares outstanding during the period and for all the periods
presented in adjusted for events, such as bonus shares, other than the conversion of potential equity
shares outstanding, without a corresponding change in resources.

For ANSK & Associates. For and on behalf of the Board of Directors

Chartered Accountants
FRN : 026177N

Sd/- Sd/- Sd/-

(CA Akhil Mittal) (Surender Kumar

Jindal ) (Chavi Rungta)

^Partner Managing Director Director

^M''^No'' ^{: 517856} din 00130589 DIN 00481039

Place : NEW DELHI
Dated: 27-05-2025

Sd/- Sd/-

(Virendra Bahadur

Singh) (RP Rastogi)

^CFO Company Secretary

PAN :BAEPS6100C M No. FCS2061

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Mar 31, 2024

Jindal Leasefin Limited has executed pledge over its debt mutual fund and bonds in favour of Barclays Bank PLC to
secure the due repayment of the credit facilities availed by Jindal Comtrade Private Limited, Jindal Dyechem Industries
Private Limited and Jindal Exports and Imports Private Limited amounting to Rs. 7,00,00,000/-

A. Following are the Related Parties of the Company

List of Key Management Personnal

1. Surender Kumar Jindal -Managing Director

2. Chavi Jindal- Director

3. Nishant Garg- Director
4.Sachin Kharkia

5 .Kiran Singhal

6. Virendra Bahadur Singh- CFO

7. Shivani Gupta -CS

List of entity in which director or his/her relaive is a member or director

1. Jindal Exports & Imports Pvt Ltd

2. Jindal Dyechem Industries Pvt Ltd

3. Bhawani Traders Limited

4. Praveen Buiding Costructions Co Pvt Ltd

5. Rhombus Colonisers Pvt Ltd

6. Jindal Futures Pvt Ltd

7. Jindal Comtrade Pvt Ltd
8 .Heemai Exports Pvt Ltd

For the purpose of capital management, capital includes total equity of the Company. The primary objective of the capital management is to maximize
shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial
covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or
issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes
within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations, if any.

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure that it meets financial covenants
attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit
the lender to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing
in the current period.

Further, no changes were made in the objectives, policies or process for managing capital during the years ended March 31, 2024 and March 31, 2023.

Note 34 Fair Value Hierarchy

The table shown below analyses financial instruments carried at fair value.The different levels have been defined below:-
Level 1: Quoted Prices (unadjusted) in active markets for identical assets or liabilities

Level 2: 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)

b) Financial instruments at amortized cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable
approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different
from the value that would eventually be received or settled.

c) During the year there has been no transfer from one level to another

The company does not have any borrowings from banks or financial institutions raised for specific purposes as on March 31, 2024.

^(a)

The company has not granted Loans or Advances to promoters, directors, KMPs and the related parties (as defined under Companies
Act, 2013), either severally or jointly with any other person, that are repayable on demand; or without specifying any terms or period

^(b) of repayment during the year. Also, there is no outstanding balance receivable from promoters, directors, KMPs and the related parties
as on March 31, 2024.

No proceedings has been initiated or pending against the company during financial year ending March 31,2024 for holding any

^(c) benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(d) The company is not declared as wilful defaulter by any bank or financial Institution or other lender.

(e) The company has duly registered all the charges within the statutory period during the financial year ending March 31, 2024.

The company has not filed for any Scheme of Arrangements that has been approved by the Competent Authority in terms of sections

^(f) 230 to 237 of the Companies Act, 2013.

The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of
funds) during the financial ending March 31, 2024 to any other person(s) or entity(ies), including foreign entities (Intermediaries) with

(g) 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) during the
financial year ending March 31, 2024 with the understanding (whether recorded in writing or otherwise) that the company shall

(h) 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.

During the financial year ending March 31, 2024, there are no transactions that are not recorded in the books of accounts and has
^(l) been surrendered or disclosed as income during the year in the tax assessments under the Income T ax Act, 1961.

(j) During the financial year ending March 31, 2024, the Company has not traded or invested in Crypto currency or Virtual Currency.

- The social security code enacted in year 2020 has been deferred by a year. When enacted, this code will have an impact on

(k) Company’s contribution to Provident Fund, Gratuity and other employee related benefits. The Company proposes to do an assessment
at an appropriate time and make appropriate provisions accordingly.

(l) - Certain figures apparently may not add up because of rounding off, but are wholly accurate in themselves

(m) Figures have been rounded off to the nearest hundred rupees.

The standalone financial statements were approved for issue by the Board of Directors of the Company on 22nd May, 2024 subject to
^Note 37 approval of shareholders.

For Goyal Nagpal & Co. For and on behalf of the Board of Directors

Chartered Accountants
FRN : 018289C

Sd/- Sd/-

Sd/- (Surender Kumar Jindal) (Chavi Rungta)

(Virender Nagpal) Managing Director Director

Partner DIN 00130589 DIN 00481039

M.No. : 416004

Place : NEW DELHI Sd/- Sd/-

Date : 22-05-2024 (Virendra Bahadur Singh) (Shivani Gupta)

CFO Company Secretary

PAN :BAEPS6100C M No. A56157