2.13 Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that the Company will be required to settle the obligation, and a reliable estimate
can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the
obligation. When a provision is measured using the cash flows estimated to settle the present obligation,
its carrying amount is the present value of those cash flows (when the effect of the time value of money is
material).

When some or all of the economic benefits required to settle a provision are expected to be recovered
from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be
received and the amount of the receivable can be measured reliably.

2.14 Financial Instruments

A. Initial recognition

Financial assets and financial liabilities are recognised when a Company entity becomes a party to the
contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are
directly attributable to the acquisition or issue of financial assets and financial liabilities (other than
financial assets and financial liabilities at fair value through profit or loss) are added to or deducted
from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.
Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair
value through profit or loss are recognised immediately in profit or loss.

Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into
known amounts of cash that are subject to an insignificant risk of change in value and having original
maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash
equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

B. Subsequent measurement

I. Non-derivative financial instruments

a. Financial assets carried at amortised cost

Financial assets are subsequently measured at amortised cost if these financial assets are held within
a business whose objective is to hold these assets in order to collect contractual cash flows and
the contractual terms of the financial asset give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

b. Financial assets at fair value through other comprehensive income

Investment in equity instruments (other than subsidiaries / associates / joint ventures) - All equity
investments in scope of Ind-AS 109 are measured at fair value. Equity insturments which are hled
for trading are generally classified at fair value through profit and loss (FVTPL). For all other equity
instruments, the Company decides to classify the same either at fair value through other comprehensive
income (FVOCI) or fair value through profit and loss (FVTPL). The Company makes such election on an
instrument by instrument basis. The classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVOCI, then all fair value changes on
the instrument, excluding dividends, are recognized in the other comprehensive income (OCI). There
is no recycling of the amounts from OCI to P&L, even on sale of investment. However, the Company

may transfer the cumulative gain or loss within equity. Dividends on such investments are recognised
in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment.

Equity instruments included within the FVTPL category are measured at fair value with all changes
recognized in the P&L.

c. Financial assets at fair value through profit or loss

Financial assets are measured at fair value through profit or loss unless it is measured at amortised
cost or at fair value through other comprehensive income on initial recognition. The transaction costs
directly attributable to the acquisition of financial assets and liabilities at fair value through profit or loss
are immediately recognised in profit or loss.

d. Financial liabilities

Financial liabilities are subsequently carried at amortized cost using the effective interest method,
except for contingent consideration recognized in a business combination which is subsequently
measured at fair value through profit and loss. For trade and other payables maturing within one year
from the Balance Sheet date, the carrying amounts approximate fair value due to the short maturity of
these instruments.

II. Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new
ordinary shares and share options are recognised as a deduction from equity, net of any tax effects.

C. Derecognition of financial instruments

The company derecognizes a financial asset when the contractual rights to the cash flows from the
financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under
Ind AS 109. A financial liability (or a part of a financial liability) is derecognized from the Company's
Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.

2.15 Fair value of financial instruments

In determining the fair value of its financial instruments, the Company uses a variety of methods and
assumptions that are based on market conditions and risks existing at each reporting date. The methods
used to determine fair value include discounted cash flow analysis, available quoted market prices and
dealer quotes. All methods of assessing fair value result in general approximation of value, and such value
may never actually be realised.

2.16 Impairment of financial assets (other than at fair value)

The Company assesses at each date of balance sheet whether a financial asset or a group of financial
assets is impaired. Ind AS 109 requires expected credit losses to be measured through a loss allowance.
The Company recognises lifetime expected losses for all contract assets and / or all trade receivables that
do not constitute a financing transaction. For all other financial assets, expected credit losses are measured
at an amount equal to the 12 month expected credit losses or at an amount equal to the life time expected
credit losses if the credit risk on the financial asset has increased significantly since initial recognition

b. The Company has other commitments, for purchase of goods and services and employee benefits, in
normal course of business. The Company does not have any long-term commitments/contracts including
derivative contracts for which there will be any material foreseeable losses.

c. Contingent liabilities *

(i) Sales tax demands against the Company not acknowledged as debt and not provided for in respect of
which the Company is in appeal is Rs. 2.93 lacs (Previous Year Rs. 2.93 lacs).

(ii) Claims/demands under litigation against the Company not acknowledged as debt and not provided for
in the books. Amount is presently not ascertainable.

* The provisions and the disclosures with regard to matters under litigations have been made based upon
the management representation.

# The above disclosure 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.

24 The Company has conducted routine physical verification of its property, plant and equipment during the year
in order to ensure their location, existence and assess their working condition. No discrepancies have been
reported during such verification.

25 All Property, Plant & Equipment and Intangible Assets of the Company are depreciated in accordance with the
provisions of the Companies Act, 2013. For assets that are fully depreciated but continue to be in use, the
minimum residual value is retained in the books of account.

26 The Company had accumulated losses as at the close of the financial year with its net worth continuing to
stand fully eroded. Presently, the Company continues to focus on recovery of old delinquent loan assets through
settlement/ compromise /legal action etc. arising out of it's earlier NBFC business. The financial information in
these financial statements has been prepared on a going concern basis, which assumes that the Company will
continue it's operational existence in the foreseeable future as the management of the company is considering
various options to undertake suitable business(s) and is also exploring the options of revival or restructuring of
the Company.

27 The Company is no longer registered with Reserve Bank of India (RBI) as Non Banking Financial Institution
(NBFI) after cancellation of it's earlier registration vide RBI letter no DNBS(NDI) S.3242/MSA/06.05.001/2015-
16 dated 6 May 2016. Accordingly, the related provisions pertaining to NBFI are currently not applicable to the
Company.

28 In opinion of the Board, the loans & advances (net of related provisions) and other current assets have a value,
which if realized in the ordinary course of business, will not be less than the value stated in the Balance Sheet.

29 Trade receivables amounting to Rs. 699.70 lacs (Previous Year Rs. 699.70 lacs) represents cases against which
legal actions/ settlements/compromises for recovery are in process. However, full provision is held against such
receivables.

30 95,00,000 - 1% Cumulative Redeemable Preference Shares (CRPS) have been allotted, by the Board of Directors
of the Company at its meeting held on November 03, 2022, to Escorts Kubota Limited (formerly Escorts Limited),
at par, for consideration other than cash i.e. in lieu of redemption of 95,00,000 - 10% CRPS in compliance of
NCLT Order dated May 13, 2022.

31 The Company is a subsidiary of M/s Escorts Kubota Limited (formerly Escorts Limited) (the "Holding Company").
The Holding Company bailed out the liability of the Company towards its unclaimed/unpaid matured fixed
deposits from time to time since 2007 in terms of a Scheme of Arrangement and Compromise filed before the
Hon'ble Delhi High Court. Accordingly, the amount of Rs. 14,805.82 lacs repaid to the respective fixed deposit
holders under the directions of the Court and balance amount of Rs 1056.22 lacs on account of unclaimed/
unpaid fixed deposits including interest thereon deposited in Investor Education Protection Fund till the end of
previous financial year. Therefore, the same has been shown aggregately as "FD Redemption through Court
approved arrangements" under "Non-Current Financial Liabilities" in the books of account.

32 The name of the Company has been changed to Invigorated Business Consulting Limited from Escorts Finance
Limited with effect from 14 June 2023, in accordance with the special resolution passed at the Annual General
Meeting of the Company, held on 30 September 2022, pursuant to the directions of Reserve Bank of India (RBI)
received vide its letter dated 12 May 2022, directing to change the name of the Company not reflecting financial
business activities.

33 In view of uncertainty of future taxable profits, the Company has not recognized deferred tax asset (net of
deferred tax liabilities) at the year end.

34 Additional regulatory information

(i) There are no proceedings that have been initiated or pending against the Company for holding any benami
property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time)
(earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) The Company does not have any transaction 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). Further, there
was no previously unrecorded income and no additional assets were required to be recorded in the books
of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended
March 31, 2025. Further, the Company has also not received any deposits or advances from any person for
the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) The Company does not have any charges or satisfaction of charges which are yet to be registered with the
Registrar of Companies beyond the statutory period.

(vii) 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 or entity, including foreign entities ("Intermediaries")
with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether
directly or indirectly lend or invest in other persons/entities identified in any other manner whatsoever by or
on behalf of the Company ('ultimate beneficiaries') or provide any guarantee, security or the like on behalf
of the Ultimate Beneficiaries.

(viii) 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.

(ix) The Company has not granted any loans or advances in the nature of Loans to the promoters, directors,
KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any
other person which are repayable on demand or without specifying any terms or year of repayment (March
31, 2024: Nil).

(x) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its property,
plant and equipment (including right-of-use assets) or intangible assets or both during the current year.

(xi) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies beyond
the specified layers.

39 The Company has a single reportable segment namely financial services (limited to recovery of loan assets) for
the purpose of Ind AS-108.

40 There are no other event observed after the reported period which have an impact on the Company's
operation.

41 The figures for the previous period have been regrouped / rearranged / reclassified wherever necessary.

In terms of our report attached

For Kapish Jain & Associates, For and on behalf of the Board of Directors

Chartered Accountants
Firm's Registration No. 022743N

CA Kapish Jain Ashok Kumar Behl Sumit Raj

Partner Whole Time Director Director

Membership No. 514162 DIN: 10146894 DIN: 07171298

Chakshoo Mehta Donald Fernandez

Place: Faridabad Company Secretary Chief Financial Officer

Date: 05 May, 2025 M. No.: A42309 PAN AAAPF9140N