BFL Asset Finvest Ltd. இன் கணக்கு குறிப்புகள்

Mar 31, 2025

Nature and purpose of other equity

(i) Reserve fund in terms of Section 45-IC(1) of the Reserve Bank of India Act, 1934

Reserve fund is created as per the terms of section 45-IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve .

(ii) Capital Redemption Reserve

Capital Redemption Reserve is created when a company buys its own shares which reduces its share capital.The capital redemption reserve fund is transferred from undistributed profits i.e general reserves, profit or loss account.This fund can be utilized only for issuing fully paid bonus shares. No dividend can be distributed out of this fund.

(iii) Securities Premium

Securities Premium is used to record the premium on issue of shares. It can be utilised only for limited purposes in accordance with the provisions of the Companies Act, 2013.

(iv) Other Comprehensive Income

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated in the FVOCI equity investments reserve. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised.

Retained earnings represents the surplus in profit and loss account and appropriations. The Company recognises change on account of remeasurement of the net defined benefit liability/(asset) as part of retained earnings with separate disclosure, which comprises of:

A) actuarial gains and losses;

B) return on plan assets, excluding amounts included in net interest on the net defined benefit liability/(asset); and

C) any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability/(asset).

Basic EPS is calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of equity shares outstanding during the year. Diluted EPS is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares of the Company.

Summary of significant accounting policies and the accompanying notes are an integral part of the financial statements.

1 As defined in point xxv of paragraph 3 of Chapter -2 of the NBFC Master Directions.

2 Provisioning norms shall be applicable as prescribed in the NBFC Master Directions.

3 All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up / fair value / NAV in respect of unquoted investments shall be disclosed irrespective of whether they are classified as long term or current in (5) above.

3. Sectoral exposure

The Company has not given loans in the nature of Unsecured Business Loans, therefore, guidelines as to Sectoral Exposure is not applicable to the Company.

4. Intra-group exposures:

There is no intra group exposure during the financial years ended March 31, 2025 and March 31, 2024

5. Unhedged foreign currency:

There is no unhedged foreign currency transaction during the financial year ended March 31, 2025 and March 31, 2024.

6. Related Party Disclosure

Related party disclosures are shown in Point no. 3.23 of this report.

7. Disclosure of complaints

The Company is involved in the business of investing Shares, Securities, Futures and Options for its own account and as such has no customer base/interface at all. Therefore, it is not applicable.

3.26) The Reserve Bank of India has issued Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs ("the framework") vide circular No. RBI/2021-22/112DOR.CRE.REC. No.60/03.10.001/2021-22 on October 22, 2021. The Framework categories NBFCs in Base Layer (NBFC- BL), Middle Layer (NBFC- ML),

Upper Layer (NBFC- UL) and Top Layer (NBFC- TL). The company is classified under "Base Layer" pursuant to the framework.

3.27) The Company does not fall under the ambit of Large Corporate (LC) category as per the criteria given under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

3.28) DISCLOSURE REGARDING NON-COMPLIANCE WITH SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

1. Disclosure made with respect to the penalty levied by Adjudicating Officer, SEBI (AO, SEBI) under Securities And Exchange Board Of India (Prohibition of Fraudulent and Unfair Trade Practices Regulations") read with Companies Act, 2013, Securities And Exchange Board Of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Securities And Exchange Board Of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Securities Contracts (Regulation) Act, 1956.

Compliance requirements:

a. Regulations 3(a), (b), (c), (d) and Regulations 4(1) and 4(2)(f) of Securities And Exchange Board Of India (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 read with section 12A(a), (b), (c) of SEBI Act, 1992 read with section 67(2) read with section 24(1) of chapter III of Companies Act, 2013.

b. Regulations 73(1) (e) of ICDR Regulations.

c. Regulation 31 (1), 31A (3) (a) and 31A (8) of LODR Regulations read with section 21 of SCRA

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Mar 31, 2024

4.6 ) Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that
probably requires an outflow of resources and are liable estimate can be made of the amount of the
obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. The Company also discloses present
obligations for which a reliable estimate cannot be made. When there is a possible obligation or a
present obligation in respect of which the likelihood of outflow of resources is remote, no provision or
disclosure is made.

4.7 ) Foreign currency translation

No Foreign currency transaction during the relevant financial year.

4.8 ) Segment Reporting

The Company operates in a single reporting segment i.e. financing. Since, it does not meet the
quantitative thresholds laid down under the Ind AS 108 - Operating Segments for reportable segments,
it has not been considered for segment reporting.

4.9 ) Title deeds of Immovable Properties not held in name of the Company

The Company does not possess any immovable property (other than properties where the Company is
the lessee and the lease agreements are duly executed in favor of the lessee) whose title deeds are not
held in the name of the Company in the financial statements of financial year ended March 31, 2024.

4.10) Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual currency during the financial years
ended March 31, 2024 and March 31, 2023.

4.11) Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under in the
financial years ended March 31, 2024 and March 31, 2023.

4.12) Willful Defaulter

The Company has not been declared as a willful defaulter by any bank or financial institution or other
lender in the financial years ended March 31, 2024 and March 31, 2023.

4.13) Relationship with Struck off Companies

The Company does not have any transactions with the companies struck off under section 248 of
Companies Act, 2013 or section 560 of Companies Act, 1956.

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

There are no charges or satisfactions which are yet to be registered with Registrar of Companies beyond
the statutory period.

4.15) Compliance with number of Layers of Companies

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 for the financial years ended
March 31, 2024 and March 31, 2023.

4.16) Compliance with approved Scheme(s) of Arrangements

No scheme of Arrangements has been approved by the Competent Authority in terms of sections 230
to 237 of the Companies Act, 2013.

4.17) Utilization of Borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other persons or entities, including
foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise,
that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate
Beneficiaries). The Company has also not received any fund from any parties (Funding Party) with the

understanding that the Company shall whether, directly or indirectly lend or invest in other persons or
entities identified by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

4.18) Investment Property

The company does not hold any investment property.

4.19) Undisclosed income

There are no transactions not recorded in the books of accounts.

4.20) CSR Expenses

The provisions of Section 135 of the Companies Act, 2013 are not applicable to the Company.

4.21) Previous year Comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary, to conform to current
year''s classification.

4.24) Disclosure as per Annex VII of Master Direction - Reserve Bank of India (Non-Banking Financial
Company -Scale Based Regulation) Directions, 2023 (Updated as on March 21, 2024)

A. Exposure

1. Exposure to real estate sector:

There is no Real Estate exposure during the financial year ended on March 31, 2024 and March 31,
2023.

3. Sectoral exposure

The Company has given loans in the nature of Unsecured Business Loans, therefore,
guidelines as to Sectoral Exposure is not applicable to the Company.

4. Intra-group exposures:

There is no intra group exposure during the financial years ended March 31, 2024 and March 31,
2023 except Related Party Transactions as mentioned at Sl. No. 4.23 above.

5. Unhedged foreign currency:

There is no unhedged foreign currency transaction during the financial year ended March 31, 2024
and March 31, 2023.

6. Related Party Disclosure

Related party disclosures are shown in Point no. 4.23 of this report.

7. Disclosure of complaints

The Company is involved in the business of investing Shares, Securities, Futures and Options for its
own account and as such has no customer base/interface at all. Therefore, it is not applicable.

4.26) The Reserve Bank of India has issued Scale Based Regulations (SBR): A Revised Regulatory Framework
for NBFCs ("the framework") vide circular No. RBI/2021-22/112DOR.CRE.REC. No.60/03.10.001/2021-22 on
October 22, 2021. The Framework categories NBFCs in Base Layer (NBFC- BL), Middle Layer (NBFC- ML),
Upper Layer (NBFC- UL) and Top Layer (NBFC- TL). The company is classified under "Base Layer" pursuant to
the framework.

4.27) The Company does not fall under the ambit of Large Corporate (LC) category as per the criteria given
under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

4.28) DISCLOSURE REGARDING NON-COMPLIANCE WITH SEBI LODR SECURITIES AND EXCHANGE BOARD
OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

1. Disclosure made with respect to the penalty levied by adjudicating officer, SEBI (AO SEBI) under

SEBI (Prohibition of Fraudulent and Unfair Trade Practices Regulations") read with Companies Act,

2013 and ICDR regulations LODR Regulations read with SCRA.

Compliance requirements:

a. Regulations 3(a), (b), (c), (d) and Regulations 4(1) and 4(2)(f) of PFUTP regulations read with
section 12A(a), (b), (c) of SEBI Act read with section 67(2) read with section 24(1) of chapter III
of companies Ac, 2013.

b. Regulations 73(1) (e) of ICDR Regulations.

c. Regulation 31 (1), 31A (3) (a) and 31A (8) of LODR Regulations read with section 21 of SCRA

Details of Violation/Deviations and Action Taken/Penalty Levied, if any on the Listed Entity

a. The Listed Entity has allegedly reclassified a promoter group entity as public share holder
without obtaining prior approval of BSE and without duly complying with the stipulations made
for seeking such approval and failed to disclose such reclassification within 24 hours of the
happening of event to BSE thereby violating provisions of Regulation 31(1), 31A(3)(a) and 31A
(8) of LODR regulations read with Section 21 of SCRA.

b. The Listed Entity during the FY 2016-17, allegedly provided funds indirectly to subscribe to its
own shares to the proposed allottees through two of its own promoters group entities

namely Baid Finserv Limited (erstwhile Baid Leasing and Finance Co. LTD.) and Jaisukh
Developers Pvt. Ltd., thereby giving misleading impression of successful subscription to the
preferential allotment when there was actually no infusion of funds and hence violating
Regulations 3(a), (b), (c), (d) and regulations 4(1) and 4(2)(f) of PFUTP regulations read with

Section 12A(a), (b), (c) of SEBI Act read with Section 67(2) read with Section 24(1) of chapter III
of Companies Act, 2013.

c. The Listed Entity, while seeking approval of shareholders for allotment of shares on preferential
basis during FY 2016-17, allegedly made false disclosure with respect to ultimate beneficial
owner of a proposed allottee namely Skyview Tie Up Pvt. Ltd. and thereby denied the
shareholder an opportunity of making informed decision regarding the approval of said
preferential allotment and hence violating Regulations 3(A), (B), (C), (D) And Regulations 4(1)
And 4(2)(F) Of PFUTP Regulations read with Section 12A(a), (b), (c) of SEBI Act and Regulation
73(1)( e) of ICDR Regulations

d. Penalty imposed: Rs 25,00,000/- (Rupees Twenty-five lakh only) on 27th February, 2023 jointly
and severally on 3 Companies i.e. listed entity, Baid Finserv Limited (Erstwhile Baid Leasing and
Finance Co. Ltd.) and Dream Finhold Private Limited.

Remedial action taken by the listed entity: Baid Finserv Limited (Erstwhile Baid Leasing and
Finance Co. Ltd.) has paid the penalty amount of Rs.25,00,000/ on 06th June, 2023 to the SEBI
on behalf of the listed entity which was reimbursed by the Listed Entity subsequently to the
Baid Finserv Limited.

As per audit report of even date attached For and on behalf of the Board

For Khilnani & Associates BFL Asset Finvest Limited

Chartered Accountants
FRN.005776C

Sd/- Sd/- Sd/-

K.K. Khilnani Mahendra Kumar Baid Aditya Baid

(Partner) (Managing Director) (Director)

M. No.072736 (DIN:00009828) (DIN:03100584)

Date: 10.05.2024 Sd/- Sd/-

Place: Jaipur Ilma Suza Ravi Bohra

(Company Secretary) (Chief Financial Officer)
M. No. : A70063

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Mar 31, 2019

1. In the opinion of the Board of Directors, Current Assets, Loans & Advances, have a value on realization in ordinary course of business at least to the amount at which they are stated.

2. Balances standing to the debit or credit of Sundry Debtors, Sundry Creditors, Unsecured Loans and Loans and Advances are subject to their confirmation.

3. There is no outstanding payment due to the S.S.I. units.

4. Previous year’s figures have been re-grouped and re-arranged wherever doing so was considered necessary.

5. Details of Auditor’s Remuneration

Current Year Previous Year

Statutory & Tax Audit fee Rs. 22,000/- Rs. 20,000/

Income-tax and allied works Rs. 5,500/- Rs. 5,000/

6. Related party disclosure is in compliance with AS18 of I.C.A.I Related Parties Key Management Personnel:

(1) Mr. Mahendra Kumar Baid (Managing Director)

(2) Mrs. Sobhag Devi Baid (Director)

(3) Mr. Ravi Bohra (Chief Financial Officer)

(4)Ms. Surbhi Rawat (Company Secretary)

Associates

Baid Leasing and Finance Co. Ltd.

Transaction ‘Executed in normal course of business at arm’s length price.

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Mar 31, 2018

1. In the opinion of the Board of Directors, Current Assets, Loans & Advances, have a value on realization in ordinary course of business at least to the amount at which they are slated.

2. Balances standing to the debit or credit of Sundry Debtors, Sundry Creditors, Unsecured Loans and Loans and Advances are subject to their confirmation.

3. There is no outstanding payment due to the S.S.I. units.

4. Previous year’s figures have been re-grouped and re-arranged wherever doing so was considered necessary.

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Mar 31, 2015

1. In the opinion of the Board of Directors, Current Assets, Loans & Advances, have a value on realization in ordinary course of business at least to the amount at which they are stated.

2. Balances standing to the debit or credit of sundry debtors, sundry creditors, unsecured loans and loans and advances are subject to their confirmation.

3. There is no outstanding payment due to the S.S.I. units.

4. Previous year's figures have been re-grouped and re-arranged wherever doing so was considered necessary.

5. No remuneration has been paid to the directors during current year as well as its previous year.

6. Related party disclosure in compliance to AS18 of I.C.A.I

Related Parties

Key Management Personnel: (1) Mahendra Kumar Baid (Managing Director)

(2) Sobhag Devi Baid (Director)

(3) Aditya Baid (Chief Financial Officer)

(4) Harshita Maheshwari (Company Secretary)

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Mar 31, 2014

1. In the opinion of the Board of Directors, Current Assets, Loans & Advances, have a value on realization in ordinary course of business at least to the amount at which they are stated.

2. Balances standing to the debit or credit of sundry debtors, sundry creditors, unsecured loans and loans and advances are subject to their confirmation.

3. There is no outstanding payment due to the S.S.I, units.

4. As on the date of last concluded A.G.M., none of the shareholders holds more than 5% of company's equity

5. Previous year's figures have been re-grouped and re-arranged wherever doing so was considered necessary.

6. RELATED PARTY DISCLOSURE IN COMPLIANCE TO AS18 OF I.C.A.I

RELATED PARTIES KEY MANAGEMENT PERSONNELS:

(1) Mahendra Kumar Baid (Managing Director)

(2) Sobhag Devi Baid (Director) There has not been any transaction during the year with the related parties.

7. Schedule 1 to 17 form an integral part of the balance sheet and profit and loss account.

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Mar 31, 2013

1. In the opinion of the Board of Directors, Current Assets, Loans & Advances, have a value on realization in ordinary course of business at least to the amount at which they are stated.

2. Balances standing to the debit or credit of sundry debtors, sundry creditors. unsecured loans and loans and advances are subject to their confirmation-

3. There is no outstanding payment due to the S.S.I, units.

4. All Trade Receivables are from unrelated parties. It includes Rs. 134/- that is outstanding for more than 6 months period.

5. As on the date of last concluded A.G.M., none of the shareholders holds more than 5% of company's equity

6. Previous year's figures have been re-grouped and re-arranged wherever doing so was considered necessary.

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Mar 31, 2012

1. In the opinion of the Board of Directors/current Assets, Loans & Advances, have a value on realization in ordinary course of business least to the amount at which they are stated.

2. Balances Standing to the debit or credit of sundry debtors, sundry creditors, unsecured loans and loans and advances are subject to their confirmation.

3. There is no outstanding payment due to the S.S.I, units.

4. As on the date of last concluded A.G.M., none of the shareholders holds more than 5% of company's equity

5. Previous year's figures have been re-grouped and re-arranged wherever doing SO was considered necessary.

6profit and loss account.

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Mar 31, 2011

1) Director's Remuneration

31-03-2011 (Rs.) 31-03-2010(Rs.)

Salary &Allowance Nil Nil

2) In the opinion of the Board of Directors, Current Assets lining Advances have a value on realization in ordinary course Business to the amount at which they are stated

3). Balances standing to the debit or credit of sundry debtors, sundry creditors, unsecured loans and loans and advances are subject to their confirmation.

4). There is no outstanding payment due to the S.S.I, units.

b). Previous year's figures have been re-grouped and re-arranged wherever doing so was considered necessary

REATED PARTY DISCLOSURE IN COMPLIANCE TO AS18 OF I.C.A.I RELATED PARTIES

(A) KE-.Y MANAGEMENT PERSONNELS. (1) Mahendra Kumar Baid (Managing Director)

(2) Sobhag Devi Baid (Director)

(B) ASSOCIATE CONCERNS (Where relative of Key Management Personnel are proprietor or director)

(1) Baid Leasing & Fin Co Ltd (2| Carewell Builders P. Ltd

(3) Tradeswift Developers Pvt Ltd

(4) Baid Finance Co

(6) Tradeswift Comdex P Ltd

(7) Tradeswift Derivatives P Ltd (8} Baid Finance

(8) Baid Finance