XVI.

Provisions, contingent liabilities and contingent assets

Provisions are recognised only when:

(i) an entity has a present obligation (legal or constructive) as a result of a past event; and

(ii) it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation; and

(iii) a reliable estimate can be made of the amount of the obligation

Provision is measured using the cash flows estimated to settle the present obligation and when the effect of time value of money is
material, the carrying amount of the provision is the present value of those cash flows. Reimbursement expected in respect of
expenditure required to settle a provision is recognised only when it is virtually certain that the reimbursement will be received.
Contingent liability is disclosed in case of:

(i) a present obligation arising from past events, when it is not probable that an outflow of
resources will be required to settle the obligation; and

(ii) a present obligation arising from past events, when no reliable estimate is possible.

Contingent assets are disclosed where an inflow of economic benefits is probable. Provisions, contingent liabilities and contingent assets
are reviewed at each Balance Sheet date.

Where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under
such contract, the present obligation under the contract is recognised and measured as a provision.

Contingent assets are not recognised in the financial statements.

XVII. Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from
operating activities is reported using indirect method adjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a noncash nature;

ii. non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign currency gains and losses, and undistributed profits
of associates and joint ventures; and

iii. all other items for which the cash effects are investing or financing cash flows

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are not available for
general use as on the date of Balance Sheet.

Footnotes:

1. Useful lives of assets has been determined as per companies act 2013. No depreciation has been provided for the assets which are carried at or lower than
its salvage value.

2. The Company has asset only under the head Office Equipment under Property, Plant and Equipment and hence other Heads as given in Schedule III Division
III of Companies Act, 2013 has not been shown under Property, Plant and Equipment.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, traded bonds and mutual funds
that have quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at

the reporting period. The mutual funds are valued using the closing NAV._

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined
using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs
required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity
securities, contingent consideration and indemnification asset included in level 3.

Note: 23 Provision for Gratuity is not made since Payment of Gratuity Act, 1972 is not applicable on the company since the number of employees in our company is below ten.

Note: 24 In the absence of necessary information with the company relating to the registration of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006 the information required under the Act could not be

complied and disclosed.

Note: 25 The Company has not recognised any Deferred Tax Assets on Unused Tax Losses and Fair Value of Investment as there is no probability and convicing other evidence that there will be sufficient future taxable profits that could be set
off against the unabsorbed capital loss and unused tax losses

Note: 27 No proceedings have been initiated or is pending against the Company fold holding any benami property
Note: 28 The Company has not been declared wilful defaulter by any bank or financial Institution or other lender.

Note: 29 The Company does not have any transactions with companies struck off under section 248 of the companies Act, 2013 as on the Balance Sheet date

Note: 30 Tothe best ofthe knowledge and belief of the management, as on the date of balance sheet, no funds have been advanced or loaned or invested (eitherfrom borrowed funds or share premium orany other sources or kind offunds)
by the company to or in any other person(s), 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 on behalf of the Ultimate Beneficiaries.

^{Note: 3}1 Financial risk management

The Company is a Non-Banking Financial Company registered with the Reserve Bank of India. On account of it's business activities it is exposed to various financial risks associated with financials products such as credit or default risk,
market risk, interest rate risk, liquidity risk and inflationary risk. However, the Company has a robust financial risk management system in place to identify, evaluate, manage and mitigate various risks associated with its financial
products to ensure that desired financial objectives are met. The Company's senior management is responsible for establishing and monitoring the risk management framework within its overall risk management objectives and
strategies, as approved by the Board of Directors. Such risk management strategies and objectives are established to identify and analyse potential risks faced by the Company, set and monitor appropriate risk limits and controls,
periodically review the changes in market conditions and assess risk management performance. Any change in Company's risk management objectives and policies needs prior approval of it's Board of Directors.

Market risk:

Market risk is a form of systematic risk associated with the day-to-day fluctuation in the market prices of shares and securities and such market risk affects all securities and investors in the same manner. These daily price
fluctuations follows its own broad trends and cycles andare more news and transaction driven ratherthanfundamentals and many a times, it may affect the returns from an investment. Market risks majorly comprises oftwo types -
interest rate risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risks include borrowings and investments

Note: 32 The Company does not have any transactions not recorded in books of accounts that has been surrendered or disclosed as income during the year and previous year in the tax assessments under the Income Tax Act, 1961.

Note: 33 The Company has not traded or invested in any crypto currency or virtual currency during the year and previous year.

Note: 34 There has been no fraud by the Company or on the Company during the year and previous year.

Note: 35 Previous year figures have been regrouped and re-arranged, wherever necessary, to confirm to the current year's classification

As per our Report of even date.

FOR R K KANKARIA & CO For and on Behalf of the Board of Directors

Chartered Accountants Thirani Projects Limited

Firm Reg. No : 321093E

UTPAL DEY PRADEEP KUMAR DAGA

Managing Director Director

DIN :6931935 DIN: 00080515

CA. RAJESH KUMAR KANKARIA
(Partner)

M. No. : 082796

YOGESH SHARMA VIJAY KUMAR OJHA

Dated: 30.05.2024 Company Secretary Chief Financial Officer

Place :Kolkata ACS 55179

UDIN:24082796BKFCRZ6743