c. Terms /rights attached to equity shares

The company has only one class of equity shares having a face value of Re.1/- per share. Each holder of equity shares is entitled to one vote per share. The dividend declared, if any is payable in Indian rupees. The dividend if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual General Meeting. The board has not yet proposed any dividend.

Nature and Purpose of other reserves

a. Retained earnings - Retained earnings are profits of the company earned till date less transferred to general reserve.

b. Capital reserve - Capital reserve was created as per the scheme of arrangement of demerger of undertaking.

c. Equity Component of 0.5% Cumulative Non-Convertible and Non-Participating Redeemable Share - Preference shares are to be redeemed on or before 6th October, 2035 i.e. 15 years from the date of issue of the said redeemable preference share in terms of Section 55 of the Companies Act, 2013.

* During the year, passing the resolution in board meeting held on November 10, 2022, the company has made redemption of 1,63,000 0.5% cumulative non-convertible and non-participating preference shares of Rs. 10/- each aggregating to Rs. 16,30,000/- (Rupees Sixteen Lakh Thirty Thousand Only).

c. Terms /rights attached to Preference Share Capital

The company has onlyone class ofpreference shares having a parvalue ofRs. 10/- pershare.The dividend declared, ifany is payable in Indian rupees.The dividend ifany proposed bythe Board of Directors is subject to the approval of the shareholders in the ensuing annual General Meeting. The board has not yet proposed any dividend.

The terms of raising of CCPS are:-

(i) The CCPS shall carry a preferential right vis-a-vis equity share of the Company with respect to payment of dividend and repayment of capital in case of a winding up;

(ii) The CCPS shall not be redeemable and the same are compulsorily convertible;

(iii) The CCPS shall be non-participating in the surplus funds and in surplus assets and profits, on winding-up which may remain after the entire capital has been repaid;

(iv) The CCPS holder shall be paid dividend on a non-cumulative basis at the rate of 0.01%;

(v) All the 1,65,000 (One Lakh and Sixty FiveThousand) CCPS allotted shall be converted into 75,000 (Seventy Five Thousand fully paid-up equity shares offacevalue of Re.1/- (Rupee One) each at an issue price of Rs. 22/- perequity share (including premium of Rs. 21/-), from time to time, in one or more tranches upto a period not exceeding 18 months from the date of issuance ofCCPS at the conversion price.

(B) Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for Rs. NIL (Previous year Rs NIL)

25 Leases

a) In case of assets given on lease Operating lease:

The Company has leased out its building situated at 7th Floor, DCM Building, 16 Barakhamba Road, New Delhi - 110 001 premises along with assets on operating lease agreement to its one wholly owned Subsidiary (Radhika Heights Limited) & other associated companies for using their corporate & registered offices. These are generally cancellable leases and renewable by mutual consent on mutually agreed terms.

The Company has leased out its building situated at Farm House No.9, 7th Avenue, Gadaipur Bandh Road, New Delhi - 1 10030 premises along with assets on operating lease agreement to its wholly owned Subsidiary (Radhika Heights Limited) for using property for the guest house purpose. These are generally cancellable leases and renewable by mutual consent on mutually agreed terms.

26 MSME

Based on the information available with the company, there are no dues as at March 31,2024 and 31st March, 2023 payable to enterprises covered under " Micro Small and Medium Enterprises Development Act, 2006. No Interest is paid/payable by the company in terms of Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006.

Note: The Company has disclosed financial instruments such as investment in equity instrument, cash and cash equivalents, other financial assets, trade payables and other financial liabilities at carrying value because their carrying amounts represents the best estimate of the fair values.

ii Fair value hierarchy

The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:

Fair Value of cash and short-term deposits, trade and other current receivables, trade payables, other current liabilities and other financial instruments approximate their carrying amounts largely due to the short term maturities of these instruments.

The different levels of fair value have been defined below:

Level 1: Quoted (Unadjusted) prices in active markets for identical assets or liabilities.

Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly Level 3: Techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

iii Valuation techniques used to determine fair value.

Specific valuation technique used to value financial instruments includes:

(a) the use of net asset value (NAV) for mutual funds on the basis of the statement received from investee party.

(b) the use of adjusted net asset value method for certain equity investments because the amount of investment is not material and management is not expected significant changes in fair value of investment.

29 Financial Risk Management

TheCompany's business operations are exposed to various financial risks such as liquidity risk, market risks, credit risk, interest rate risk, funding risk etc. The financial liabilities mainly includes borrowings taken for the purpose of financing company's operations, trade payable and other financial liabilities. Financial assets mainly includes trade receivables, investment in subsidiary, security deposit etc. the company is not exposed to foreign currency risk and the company

have not obtained entered in forward contracts and derivative transactions.

The Company has a system based approach to financial risk management. The Company has internally instituted an integrated financial risk management framework comprising identification of financial risks and creation of risk management structure. The financial risks are identified, measured and managed in accordance with the company's policies on risk management. Key financial risks and mitigation plans are reviewed by the board of directors of the Company.

a.market risk

Market risk is the risk of loss of future earnings, fair value of future cash flows that may result from a change in the price of financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, equity prices and other market changes that may effect market sensitivity instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, loans and borrowings.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. In order to balance the Company's position with regards to interest income and interest expense and to manage the interest rate risk, management performs a comprehensive interest rate risk management. The Company has no interest bearing borrowings hence it is not exposed to significant interest rate risk as at the respective reporting dates. The Company's has no fixed rate financial assets hence not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of change in market interest rates.

Foreign currency risk

The Company has operations in India only hence Company's exposure to foreign currency risk is Nil.

Price Risk

The Company has very limited exposure to price sensitive securities, hence price risk is not material.

B.CREDIT RISK

Credit risk is the risk that customer or counter-party will not meet its obligation under the contract, leading to financial loss. Credit risk arises from trade receivables and other financial assets.

Trade Receivables

Customer credit risk is managed on the basis of established policies of the Company, procedures and controls relating to customer credit risk management which helps in assessing the risk at the initial recognition of the asset. Outstanding customer receivables are regularly and closely monitored. Based on prior experience and an assessment of the current receivables, the management believes that there is no credit risk and accordingly no provision is required.

Other Financial Assets

- There is no credit risk exposure with respect to other financial assets as they are either supported by legal agreement or are with Nationalized banks.

- Other receivables from related parties are as per approved policy and the established procedure to monitor the dues from related parties which also ensures timely payments and no default, hence there is no credit risk exposure involved.

Provision for Expected Credit losses

Financial Assets are considered to be of good quality and there is no credit risk to the Company.

C. LIQUIDITY RISK

Liquidity risk is the risk that the Company may face to meet its obligations for financial liabilities. The objective of liquidity risk management is that the Company has sufficient funds to meet its liabilities when due. However, presently the Company is under stressed conditions, which has resulted in delays in meeting its liabilities. The Company, regularly monitors the cash outflow projections and arrange funds to meet its liabilities.

³⁰ Capital Risk Management

For the purpose of capital management, capital includes equity capital, share premium and all other equity reserves attributable to equity shareholders of the company.

The company's capital management objectives are:

(a) to ensure the company's ability to continue as a going concern

(b) to provide an adequate return to shareholders by controlling the prices in relation to the level of risk

The Company maintains balance between debt and equity. The Company monitors its capital management by using a debt-equity ratio, which is total debt divided by total capital.

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.

No changes were made in the objectives, polices or processes for managing capital during the years ended 31st March 2024.

31 Ratios

Additional regulatory information required under (WB) (xiv) of Division III of Schedule III amendment, disclosure of ratios, is considered as not applicable to the Company as it is a Core Investment Company (CIC) not requiring registration under Section 45-IA of Reserve Bank of India Act, 1934.

³² The amount of provision for Defined Benefit Plans for Gratuity as at 31st March, 2024 is not material to the overall position of the company and accordingly the ordinary annual contributions have been computed and provided for on a reasonable basis as per the method prescribed under the relevant provisions of the Income Tax Act, 1961.

³³ Segment Reporting

The Company is a one segment company in the business of real estate development and leasing. All its operations are located in India, accordingly, the Company views these activities as one business segment, there are no additional disclosures to be provided in terms of Ind AS 108 on 'Segment Reporting'.

There are no events observed after the reported period which have an impact on the company operations.

35 Notes on Amendment in Schedule III and relating to other disclosures required to be made in Financial Statements:

(a) The company does not have any transaction with the companies struck off under section 248 of the Companies Act 2013 or section 560 of the Companies Act 1956 during the year ended March 31, 2024 and March 31,2023.

(b) There was no charges or satisfaction there of were requried to registered with the registrar of companies during the year ended March 31,2024 and March 31, 2023.

(c) The company complies with the number of layers of companies in accordance with clause 87 of Section 2 of the Act read with the Companies (Restriction on number of layers) Rules 2017 during the year ended March 31, 2024 and March 31,2023.

(d) The company has not invested or traded in cryptocurrency or virtual currency during the year ended March 31,2024 and March 31, 2023.

(e) No proceedings have been initiated on or are pending against the company for holding Benami property under the Prohibition of Benami PropertyTransaction Act 1988 (as amended in 2016) (formally the Benami Transactions (Prohibition) Act 1988 (45 of 1988) and Rules made thereunder during the year ended March 31,2024 and March 31, 2023.

(f) The company has not been declared a wilful defaulter by any bank orfinancial institution or government or any government authorities during the year ended March 31, 2024 and March 31, 2023.

(g) The company has not entered into any scheme ofarrangement approved by the competent authority in terms of sections 232 to 237 of the Companies Act 2013 during the year ended March 31,2024 and March 31, 2023.

(h) During the year ended March 31, 2024 and March 31, 2023, the company has not surrendered or disclosed as income any transactions not recorded in the books of accounts in the course of tax assessments under the Income Tax Act, 1961 (such as search or survey or any other relevant provisions of the Income Tax Act 1961).

(i) During the year ended March 31,2024 and March 31,2023, the company has not advanced or loaned or invested funds (either borrowed funds or the share premium or kind of funds) to any other person or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary shall:

i) directly or indirectly land or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or

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

(j) During the year ended March 31 2024 and March 31 2023, the company has not received any funds from any persons or entities including foreign entities (Funding party) with the understanding (whether recorded in writing or otherwise) that the company shall

i) 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

ii) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

36 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits has received Presidential assent on 28 September 2020. The Code has been published in the Gazette of India. However, the effective date of the Code is yet to be notified and final rules for quantifying the financial impact are also yet to be issued. In view of this, the Company will assess the impact of the Code when relevant provisions are notified and will record related impact, if any, in the period the Code becomes effective.

37 Notes 1 to 37 form an integral part of these Standalone Financial Statements.