Notes to Accounts of Whitehall Commercial Company Ltd.

Mar 31, 2025

(i) 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 an outflow 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 and loss net of any
reimbursements.

If the effect of time value of money is material, provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is recognized as a finance cost. Provisions are
reviewed at each balance sheet date and are adjusted to reflect the current best estimates.

(j) Employee benefit obligations

Employee benefits like provident fund, ESI, Gratuity & Bonus are not applicable to the company and
hence no provision has been made in the accounts. All assumptions are reviewed at each reporting
period.

(k) Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk
of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short¬
term deposits, as defined above.

(1) Income taxes

Current income tax assets and liabilities are measured at the amounts expected to be recovered from
or paid to the taxation authorities in accordance with the Income Tax Act, 1961.

Current income tax relating to items recognized outside profit and loss is recognized outside profit
and loss (either in other comprehensive income or in equity). Current tax items are recognized in
correlation to the underlying transaction either in OCI or directly in equity. Management periodically
evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation and establishes provisions where appropriate.

Deferred income tax is provided using the liability method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting dale.

Deferred tax liabilities are recognized for all taxable temporary differences except when the deferred
tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that
is not a business combination and at the time of the transaction, affects neither the accounting profit
nor taxable profit or loss; or in respect of taxable temporary differences associated with investment
in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of temporary
differences can be controlled and it is probable that the temporary differences will not reverse in the
foreseeable future.

Deferred tax assets on deductible temporary differences, the carry forward of unused tax credits and
any unused tax losses are recognized to the extent that there is reasonably certainty that taxable profits
will be available against which the deductible temporary differences and the carry forward of unused
tax credits and tax losses can be utilized, except when the deferred tax asset relating to the deductible
temporary difference arises from the initial recognition of an asset or liability in a transaction that is
not a business combination and at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss.

The earning amount of deferred tax assets is reviewed at each reporting period and is reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part
of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each
reporting date and are recognized to the extent that it has become reasonably certain that future taxable
profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year
when the asset or 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 profit
and loss is recognized outside profit and loss (either in other comprehensive income or in equity).
Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly
in equity.

(m) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to
the equity shareholders by the weighted average number of equity shares outstanding during the
period. For the purposes of calculating diluted earnings per share, the net profit for the period
attributable to equity shareholders and the weighted average number of equity shares outstanding
during the period are adjusted for the effects of all dilutive potential equity shares.

The Company has only one class of issued Equity Shares having par value of Rs. 10/- per share. Each holder of Equity Shares is entitled to one vote
per share and carry a right to dividend. The dividend proposed by Board of Directors is subject to the approval of the shareholders in ensuing
Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(i) Fair value hierarchy

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows:

Level I - Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable
Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

The following table provides the fair value measurement hierarchy of the Company''s financials assets and liabilities that are measured at fair value or where fair value disclosure is required:
(ii) Valuation process to determine fair value

the following methods and assumptions were used to estimate the fair values of financial instruments:

a) The carrying amounts of cash and cash equivalents, trade receivables, trade payables, bank overdrafts and other current financial assets and liabilities are considered to be the same as their fair values, due
to their short-term nature.

b) The fair values of the equity investment which are quoted, are derived from quoted market prices in active markets. In the case of the investment measured at fair value and falling under fair value
hierarchy Level 3. cost has been considered as an appropriate estimate of fair value. The carrying value of those investments are individually immaterial.

The Company is exposed primarily to fluctuations in foreign currency exchange rates, credit. liquidity and
interest rate risks, which may adversely impact the fair value of its financial instruments. The Company has a
risk management policy which covers risks associated with the financial assets and liabilities. The risk
management policy is approved by the Board of Directors. The focus of the management is to assess the
unpredictability of the financial environment and to mitigate potential adverse effects on the financial
performance of the Company.

Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market prices. Such changes in the values of financial instruments may result from changes in
the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

a) Foreign currency exchange rate risk

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit and
loss and other comprehensive income and equity, where any transaction references more than one currency of
where assets / liabilities are denominated in a currency other than the functional currency of the Company,
During the year, the Company is not exposed to any foreign currency exchange rate risk.

b) Interest rate risk

The Company’s investments are primarily in fixed rate interest bearing investments. Hence, the Company is
not significantly exposed to interest rate risk.

Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to
the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of
deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit
limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after
obtaining necessary approvals for credit.

Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables,
loans, investments, derivative financial instruments, cash and cash equivalents, bank deposits and other
financial assets.

The carrying amount of financial assets and contract assets represents the maximum credit exposure. The
maximum exposure to credit risk was Rs. 0.45 Lacs and Rs. 5.47 Lacs as at March j 1,2025 and 2024,
respectively, being the total of the carrying amount of balances with banks, bank deposits, investments
excluding equity and preference investments, trade receivables, loans, contract assets and other financial

assets.

Liquidity'' risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of
liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company consistently generated sufficient cash flows from operations to meet its financial
obligations including lease liabilities as and when they fall due.

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Mar 31, 2024

Provisions arc recognised when the Company has a present obiigation (legal or constructive), as a
result of a past event, it is probable that an outflow of resources embodying economic benefits will
be required to settle the obiigation 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 and loss net
of any reimbursements.

II th£ Effect ol time value of money is material, pro visions are discounted u sing a current pre-tax:
rate that rcllcets, when appropriate, the risks specific to the liability. When discounting is used,
the increase in the provision due to the passage ol''time is recognized as a finance cost. Provisions
arc reviewed at each halance sheet date and are adjusted to reflect the current best estimates.

(j) Employee j>eneflt obligations

Employee benefits like provident fund, ESI, Gratuity & Bonus are not applicable Lo the comp an v
and hence no provision has been made ia the accounts. All assumptions are reviewed at each
reporting period.

(k) Cash andcash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which arc subject lo an insignificant risk
of changes in value.

For the purpose of the statement of cash Hows, cash and cash equivalents consist of cash and short¬
term deposits, as defined above.

(l) 11ictime taxes

Current income tax assets and liabilities arc measured at the amounts expected to be recovered
Item or paid to the taxation authorities in accordance with the Income Tax Act, 1961.

Current income lax relating to items recognized outside profit and loss is recognized outside profit
and loss (either in other comprehensive income or in equity). Current tax items arc recognized in
correlation to the underlying transaction cither in OC1 or directly in equity; Management
periodically evaluates positions taken in the tax returns with respect to situations in which
applicable tax regulations arc subject to interpretation and establishes provisions where
appropriate.

Deferred income tax is provided using lire liability method on temporary differences between the
tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting dale.

Deferred tax liabilities are recognized for all taxable temporary differences except when lire
deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a
transaction that is not a business combination and at the time of the transaction, affects neither the
accounting profit nor taxable profit or loss; or in respect of taxable tempo rasy differences
associated with investment in subsidiaries, associates and interests in joint ventures, when the
timing of the reversal of temporary-¹ differences can be controlled and it is probable that the
temporary differences will not reverse in tire foreseeable future.

Deferred rax assets on deductible temporary differences, the carry Jiirward of unused tax cretins
and any unused tax losses are recognized to tire ex Lent that ther e is reasonably certainty that taxable
profits will be available againsL which tire deductible temporary diiTerenees and the carry forward
of unusod tax credits and tax losses can be utilized, except when lire deferred fax asset relating to
the deductible temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and at the time of the transaction, affects neither the
accounting profit nor taxable profit or loss.

The carrying amount of deferred tax assets is reviewed at each rep oiling period and is reduced to
the extent tiial it is no longer probable that sufficient taxable profits will be available to allow al!
or part of the defeired tax asset to be utilized. Unrecognized deferred tax assets arc re-assessed at
each reporting dale anti arc recognized to tine extent tiiat it has become reasonably certain that
1’uLurc taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in Lhe
year when Lhe asset or liability is settled based on tax rates and tax laws that have been enacted or
substantively enacted aL Lhe reporting date, [Deferred lax relating to items recognized outside profit
and loss is recognized outside profit and Joss {either in other comprehensive income or in equity).
Deferred tax items are recognized in correlation to the underlying transaction cither in (X''l or
directly in equity,

(m) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable
to the equity shareholders by the weighted average number of equity shares outstanding during the
period. For the purposes of calculating diluted earnings per share, the net profit for the period
attributable to equity shareholders and the weighted average number of equity shares outstanding
during the period are adjusted for the effects of ail diluLive potential equity shares.

The Compaq is exposed primarily to fluctuations in foreign currency exchanges rales, credit, liquidity and interest rale risks, which
n:ay adversely limpact the fair value nf its linaitrial instruments. The I’timpany has a risk management policy which covers risks
associated with the financial assets and liabilities. The risk management policy is approved by the Board of Director;. I lie Idem of
IIil- management is to assess the Unpredictability of the financial environment land to mitigate potential adverse effeeh on the
financial perform a nee of the Company.

Market risk

Market risk is tire risk dial me fair value or future cash, flows ul''a financial instrument will fluctuate because of changes in market
prices. Such changes in the values ofltrittrieial instruments may teslilj Ihorti changes in the foreign currency exchange rates, interest
rates, credit, liquidity and other market, changes.

u) Foreign Currency exchange rate risk

The 11 ue< nation in foreign currency exchange rates may have potential impeitt on the shitement of profit and loss and other
comprehensive inenmc and equity, where any irarisaetion references mote than one currency or where assets ) liabilities are
denominated In a etimatcy otfter than the functional currency of the Company.

During the year, I lie Cum patty is not exposed to any foreign currency exchange rate risk.

b) Interest rate risk

The Company''s investments are primarily in fixed rate interest hearing investments. Hence, the Comjtany is rtot significantly
exposed to interest rate risk.

(Yctlll risk

Credit risk is the risk of financial loss arising I hum counterparty failure to repay or service debt according to the eniuracLuul terms
or oh i gat ions. Credit risk encompasses of both, the direct risk of default and the risk of del eri oration of credit worthiness as well as
concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of euslomers on a continuous basis
to whom the credh has been granted alter obtaining necessary appruvaIs for credit.

financial irstrumenls that are subject to concentrations cd'' credit risk principally consisi of hade revetvabies. leans, investments,
derivative financial instruments, cash and cash equivalents, bank deposits and other financial assets

Tite carrying amount of fmancia. .assets and contract assets represents the maximum eredir exposure. The maximum exposure to
credit risk was Rs.0.05 Laos and Rs.0.17 i.acs as al March 31. 2024 and 2023, respectively, being the total of the carrying amount
of balances with banks, bank deposits, investments excluding equity and preference inveslmenls, trade receivables, loans, contract
assets and other financial assets.

Kune of the financial instruments ol''ihc Company result m material eon central ion of credit risk.

Liquidity risk

Liquidity risk refers to Ihe risk that the Company cannot meet ifs tinanciai obligations. The objective of liquidity risk management
is to maintain sufficient liquidity and ensure that funds are available for use as per requirements The Company consistently
generated sufficient cash flows front operations to meet its financial ob! iga I ionsi tic [tiding lease liabilities as and when they fail due.

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Mar 31, 2014

1. Corporate Information: -

Whitehall Commercial Company Limited is a Public Limited company engaged in Finance and Investment activities.

2. Basis of Preparation: -

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. During the year ended 31st March 2014, the revised Schedule VI notified under Companies Act, 1956 has become applicable to the company for preparation and presentation of its financial statements. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on the presentation and disclosures made in the financial statements. The company has reclassified previous year figures in accordance with the reauirements aDDlicable in the current vear.

3. None of the assets are taken or given on Lease

4. None of the assets are revalued during the year or within previous 5 years.

5. No previous revaluation done within last 5 years is written down during the year.

6. No impairment loss has been accounted during the year.

7. No previous impairment loss has been reversed during the year.

8. Related Party Disclosure

(As per Accounting Standard -18}

A. Associates Companies

Vision Management Services Pvt. Ltd., Pristine Property Management Pvt. Ltd., DSCInfotech Pvt. Ltd., Hightide Investments Pvt. Ltd., Greypoint investment Pvt. Ltd., Blackhill Investments Pvt. Ltd., Signassure Services India Ltd., Mahadhan Investment & Finance Pvt. Ltd., Robust Marketing Services Pvt. Ltd., Sandhya Commercial Ltd., Priyank Mercantile Ltd., Vittakshem Insurance & Financial Services Pvt. Ltd., Metaccess Solution P. Ltd., Sheffly Investment P. Ltd., Performance Chemiserve Pvt. Ltd.

9. Segment Reporting

(As per Accounting Standard -17)

The company is engaged in fund based activities and as such there are no separate segments specified in AS-17 issued by Institute of Chartered Accountants of India which needs to be reported.

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Mar 31, 2013

1. Corporate Information: -

Whitehall Commercial Company Limited is a Public Limited company engaged in Finance and Investment activities.

2. Basis of Preparation: -

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. During the year ended 31st March 2013, the revised Schedule VI notified under Companies Act, 1956 has become applicable to the company for preparation and presentation of its financial statements. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on the presentation and disclosures made in the financial statements. The company has reclassified previous year figures in accordance with the reauirements aDDlicable in the current vear.

3. Contigent liabilities and commitments

The company does not have any Contigent Liabilities or Commitments._

4. C1F value of Imports

The company does not have any import of Raw Material, Capital Goods or any other and hence disclosure about the same is not applicable.

5. Expenditure in Foreign currency

The company has not incurred any expenditure in foreign currency.

6. Consumption

As the company is engaged in the business of rendering services, the details of consumption are not applicable.

7. Amount remitted in foreign currencies for dividend

The company has not remitted dividend in forign currencies during the year.

8. Earnings in foreign exchange

The company has no earnings in foreign currency during the financial year.

9. Related Party Disclosure

(As per Accounting Standard - 18)

A. Associates Companies

Vision Management Services Pvt. Ltd., Pristine Property Management Pvt. Ltd., DSCInfotech Pvt. Ltd., Hoghtide Investments Pvt. Ltd., Greypoint Investment Pvt. Ltd., Blackhill Investments Pvt. Ltd., Signassure Services India Ltd., Mahadhan Investment & Finance Pvt. Ltd., Robust Marketing Services Pvt. Ltd., Sandhya Commercial Ltd., Priyank Mercantile Ltd., Vittakshem Insurance & Financial Services Pvt. Ltd., Metaccess Solution P. Ltd., Sheffly Investment P. Ltd., Performance Chemiserve Pvt. Ltd.

10. Segment Reporting

(As per Accounting Standard -17)

The company is engaged in fund based activities and as such there are no separate segments specified in AS-17 issued by Institute of Chartered Accountants of India which needs to be reported.

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Mar 31, 2012

1. Corporate Information: -

Whitehall Commercial Company Limited is a Public Limited company engaged in Finance and Investment activities.

2. Basis of Preparation: -

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956.

During the year ended 31st March 2012, the revised Schedule VI notified under Companies Act, 1956 has become applicable to the company for preparation and presentation of its financial statements. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on the presentation and disclosures made in the financial statements. The company has reclassified previous year figures in accordance with the requirements applicable in the current year.

Nature of security & Terms of Repayment

(Disclosure pursuant to Note no. 6(C) (ii) & (vi) of Part I of Schedule VI to the Companies Act, 1956)

1 Loan received from Deepak Agro Solutions Ltd do not have any security and is repayable on call. This Deposit carries interest @ 7% payable annually as per mutual understanding.

2 Loan received from Performance Chemiserve Pvt. Ltd. do not have any security and is repayable on call. This Deposit carries interest @ 7% payable annually as per mutual understanding.

No Loans have been guaranteed by Directors or others.

Period & amount of continuing Default in repayment of loan & interest Company has not defaulted on repayment of loan or interest.

Notes -

1. None of the assets are taken or given on Lease

2. None of the assets arc revalued during the year or within previous 5 years.

3. No previous revaluation done within last 5 years is written down during the year.

4. No impairment loss has been accounted during the year.

5. No previous impairment loss has been reversed during the year.

3 Contingent liabilities and commitments The company does not have any Contigent Liabilities or Commitments.

4 OF value of Imports

The company does not have any import of Raw Material, Capital Goods or any other and hence disclosure about the same is not applicable.

5 Expenditure in Foreign currency The company has not incurred any expenditure in foreign currency.

6 Consumption

As the company is engaged in the business of rendering services, the details of consumption are not applicable.

7 Amount remitted in foreign currencies for dividend

The company has not remitted dividend in forign currencies during the year.

8 Earnings in foreign exchange

The company has no earnings in foreign currency during the financial year.

Note- 1 The company does not have any dilutive potential equity shares outstanding as on the last day of the previous year which can be converted into equity shares and hence basic & diluted earnings per share is same.

9 Related Party Disclosure

(As per Accounting Standard - 18)

A. Associates Companies

Vision Management Services Pvt. Ltd., Pristine Property Management Pvt. Ltd., DSCInfotech Pvt. Ltd., Hoghtide Investments Pvt. Ltd., Greypoint Investment Pvt. Ltd., Blackhill Investments Pvt. Ltd., Signassure Services India Ltd., Mahadhan Investment & Finance Pvt. Ltd., Robust Marketing Services Pvt. Ltd., Sandhya Commercial Ltd., Priyank Mercantile Ltd., Vittakshem Insurance & Financial Services Pvt. Ltd., Metaccess Solution P. Ltd., Sheffly Investment P. Ltd., Performance Chemiserve Pvt. Ltd.

B. Key Management Personnel (KMP)

Rohit Prabhudas Shah, Yogesh J. Kapadia, Dharmendra J. Mehta

10 Segment Reporting

(As per Accounting Standard -17)

The company is engaged in fund based activities and as such there are no separate segments specified in AS-17 issued by Institute of Chartered Accountants of India which needs to be reported.