Financial Staements Duly Authenticated As Per Section 134 (Including Boards Report, Auditors Report and Other Documents) - 29102022

SKParodin&Associnres
CIIARTERED ACCOI]NTANTS
Independent Auditor's Report

To
The Members of Mintifi Finserve Private Limited
Report on the Audit of the Financial Statements
7. We have audited the accompanying financial statements of Mintifi Finserve Private Limited ("the
Company"), which comprise the Balance Sheet as at 3L March 2022, the statement of Profit and
Loss and the statement of Cash Flow for the year ended, and notes to the financial statements
including a summary of the significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid standalone financial statements, give the information required by the Companies Act,
2013 ("the Act") in the manner so required and are in conformity with the Accounting standards
prescribed under section 133 of the act read with the companies (Accounting Standards) Rules ,
2006 as amended ("Accounting Standards") and other accounting principles generally accepted in
India and give a true and fair view of the state of affairs of the Company as at 3 1 March 2022 and its
profit and its cash flows for the year ended on that date.
Basis of Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing
specified under Section 143[10) of the Act (SAs). Our responsibilities under those Standards are
further described in the Auditor's Responsibility for the Audit of the Financial Statements section of
our report. We are independent of the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India flCAI) together with the ethical requirements that are
relevant to our audit of the financial statements under the provisions of the Act and the Rules made
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is
sufficient and appropriate to provide a basis for our audit opinion on the financial statements.
Information other than the Financial Statement and Auditor's Report Thereon
The Company's Board of Directors is responsible for the other information. The other information
comprises the information included in Director's report, but does not include the financial
statements and our auditors report thereon"
Our opinion on the financial statements does not cover the other information, and we do not
express any form ofassurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information; we are required to report that fact. We have nothing to
repoft in this regard"
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Head Office : Choice House, Shree Shakambhari Corporate Park, Plot No. 156-158, J. B. Nagar,
Andheri (East), Mumbai - 400099 | Tel.: +91 22 6707 9444 | Emait : info@skpatodia.in
Offices : New DelhilJaipurlAhmedabad lBengaluru lHyderabad lKolkata lRaipurlBhopal lPatna lRanchi lGuwahati
www.skpatodia.in
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Responsibilities of management and those charged with governance for the financial
statements
4. The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the
Companies Act,20L3 ["the Act") with respect to the preparation of these financial statements, that
give a true and fair view of the financial position, financial performance and cash flows of the
Company in accordance with the accounting standards and other accounting principles generally
accepted in India. This responsibility also includes maintenance of adequate accounting records in
accordance with the provision of the Act for safeguarding the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and the
design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial statements that give a true and fair
view and free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company's
ability to continue as going concern , disclosing as applicable , matters related to going concern and
using the going concern basis of accounting unless management either intends to liquidate the
Company or cease the Company's operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the company's financial reporting
process.
Auditor's Responsibilities for the Audit of Financial Statements:
5. Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with SA's will always detect a material
misstatement when it exists. Misstatement can arise from fraud or error and are considered
material, if individually or in the aggregate, they could reasonably be expected to influence
economic decision of users taken on the basis of these financial statements.
As part of an audit in accordance with SA's, we exercise professional judgment and maintain
profession skepticism throughout the audit. We also,
to fraud or error design and perform audit procedures responsive to those risks and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for resulting from
error as fraud may involve collusion forgery, intentional omissions, misrepresentation or the
override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3XD of the Act, we
are also responsible for expressing an opinion on whether the Company has adequate internal
financials controls system in place and operating effectiveness of such controls.
Evaluate the appropriateness ofaccounting policies used and the reasonableness ofaccounting
estimates and related disclosures made by management"
Conclude on the appropriateness of management use of the going concern basis of accounting
and based on the audit evidence obtained whether a material uncelt3i.ftl exists related to
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events or conditions that may cast significant doubt on the Company's ability to continue as
going concern. If we conclude that material uncertainty exists we are required to draw
attention in our auditor's report to the related disclosures in the financial statements or if such
disclosures are inadequate to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report. However future events or conditions
may cause Company to cease to continue as a going concern.
including the disclosures and whether the financial statements represent the underlying
transactions and events in the manner that achieves fair presentation.
We consider quantitative materiality and qualitative factors in (i) planning of the scope of our audit
work and evaluating the results of our work; and [ii) to evaluate the effect of any identified
misstatement in the financial statements.
We communicate with those charged with governance regarding among other matters the
planned scope and timing of the significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied relevant
ethical requirements independence and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence and where applicable related
safeguards.
From the matters communicated with those charged with governance, we determine those matters
that were of most significance in the audit of the financial statements of the current period and are
therefore the key audit matters. We describe these matters in our auditor's report unless law or
regulation precludes public disclosure about the matter or when, in extremely rare circumstances,
we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of
such communication.
Other Matters
The comparative financial information of the company as of and for the year ended 31 March 2021
prepared in accordance with Accounting Standards included in the financial statement have been
audited by the predecessor auditor. The report of the predecessor auditor on the comparative
financial statement information dated 30 lune 202L expressed an unmodified opinion.
Our opinion on the financial statements and our report on Other Legal and Regulatory
requirements below is not modified in respect of this matter.
Report on Other Legal and Regulatory Requirements
6. As required by the Companies (Auditor's Report)Order,2020 ("the Order") issued by the Central
Government in terms of Section 743 (Lt) of the Act, we give in "Annexure A" a statement on the
matters specified of the order.
.7
As required by Section 143 (3) of the Act, we further report that:
a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audiU
b) In our opinion, proper books ofaccount as required by law have been kept by the Company so
far as it appears from our examination of those books;
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c) The Balance sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this
repoft are in agreement with the books of accoun[
d) In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under section 133 of the Act.
e) 0n the basis of the written representations received from the directors as on March 31,2022
taken on record by the Board ofDirectors, none ofthe directors are disqualified as on March 3L,
2022 from being appointed as a director in terms of Section 164 (2) of the Act.
With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate Report in
'Annexure B'
s) With respect to the other matters to be included in the Auditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us;
position.
there were any material foreseeable losses; and
and Protection Fund by the Company.
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 person(s) or
entity(ies), including foreign entities ("lntermediaries"), 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.
B) The Management has represented, that, to the best of it's knowledge and beliel no funds
have been received by the Company from any personfs) or entity(ies), including foreign
entities (Funding Parties), with the understanding, whether recorded in writing or
otherwise, as on the date of this audit report, that the Company shall, directly or indirectly,
Iend 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.
C) Based on the audit procedures performed that have been considered reasonable and
appropriate in the circumstances, and according to the information and explanations
provided to us by the Management in this regard, nothing has come to our notice that has
caused us to believe that the representations under sub-clause A) and B) above, contain any
material mis-statement"
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h) The Company has neither declared nor paid any dividend during the year.
i) In our opinion, according to information, explanations given to us, the provisions of Section
797 of the Act and the rules thereunder are not applicable to the Company as it is a private
Company.
Yours Sincerely
For S K Patodia &Associates

Chartered Accountants
Firm Reg. No;112723W
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Sandeep Mandawewala
Partner
Membership No.:777917
Ii.:Y*
UDIN: 22177 9 L7 AKIV/Y GZLT 9
Place:Mumbai
Date:07 fune2022
ANNEXURE A TO BE THE INDEPENDENT AUDITOR'S REPORT
(Referred to in paragraph 6 under 'Report on other Legal and Regulatory Requirements' section of
our report ofeven date)
[1) In respect of the company's fixed assets :
a. The company has maintained proper records showing full particulars including quantitative
details and situation of Property, Plant and Equipment.
b. The fixed assets of the Company have been physically verified by the Management in
accordance with the regular programme of verification which, in our opinion, provides for
physical verification of all the fixed assets at reasonable intervals. According to the
information and explanation given to us, no material discrepancies have been noticed on
such verification.
The company does not have any immoveable properties of freehold or leasehold land and
building and hence reporting under clause (i)(c) of CARO 2020 is not applicable.
d. According to the information and explanations given to us, the Company has not revalued
its property, plant and Equipment. Accordingly, the requirements under paragraph 3tixd)
of the Order are not applicable to the Company.
e. According to the information and explanations given to us, no proceeding has been initiated
or pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 19BB and rules made thereunder. Accordingly, the
provisions stated in paragraph 3 (i) (e) of the Order are not applicable to the Company.
tii) According to the information and explanations given to us and based on our examination of
the records of the company, we report tha!
a. The Company is involved in the business of rendering services. Accordingly, the

provisions stated in paragraph (ii) (a) of the Order are not applicable to the Company.
b. The Company has been sanctioned working capital limits in excess of Rs. 5 Crores in
aggregate from Bank on the basis of security of current assets, The statements are filed
with the Banks are in agreement with the books of account.
[iii) According to the information and explanation provided to us and based on our examination
of the records of the company, we report that
a. The terms and conditions of the loans and advances provided are not prejudicial to the
interest of the Company.
b. In case of the loans and advances in the nature of loan, schedule of repayment of
principal and payment of interest have been stipulated and the borrowers have been
regular in the payment of the principal and interest except reported in the below C
point.
c. According to the information and explanations given to us and on the basis of our
examination of the records of the company, the details of amount overdue for more
than ninety days are as follows:
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Rs, In Lakhs
No. ot PrinciPal lnterest Total Remarks (specify whether reasonable steps

Cases amount overdue overdue have been taken by the Company for
overdue recovery of principal amount and interest)
264 540.12 37.37 577.69 Company has separate cottection team and
they are continuously fottowing up with the
borrowers for repayment.
d. According to the information explanation provided to us, the Company has not any
granted loans and / or advances in the nature of loans which are either repayable on
demand or without specifying any terms or period of repayment. Hence, the
requirements under paragraph 3(iiD(0 of the Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations given to us, the Company
has not either directly or indirectly, granted any loan to any of its directors or to any other
person in whom the director is interested, in accordance with the provisions of section 185
of the Act and the Company has not made investments through more than two Iayers of
investment companies in accordance with the provisions of section 186 of the Act.
Accordingly, provisions stated in paragraph 3(iv) of the Order are not applicable to the
company.
(v) According to the information and explanations given to us, the company has not accepted
any deposit during the year and hence directives issued by the Reserve Bank of India and
the provisions of sections 73 to 76 or any other relevant provision of the act and rules
framed thereunder are not applicable.
(vi) Having regard to the nature of the company's business/activities, reporting under clause
(vi) of CARO 2020 with respect to maintenance of cost records under section 148 (1) of the
Act is not applicable.
(vii) According to the information and explanations given to us and based on our examination of
the records of the company, we report that in respect of statutory dues:
a. The company has generally been regular in depositing undisputed statutory dues
including provident fund, Employees State insurance, income tax, Goods and service tax,
cess and other material statutory dues applicable to it to the appropriate authorities"
b. There were no undisputed amounts payable in respects of provident fund, income tax,
Goods and service tax, cess and other material statutory dues in arrears as at 31 March
2022 for a period of more than six month from the date they became payable.
c. There are no dues of income tax, goods and service tax, customs duty, cess and any
other statutory dues which have not been deposited on account ofany dispute.
(viii) According to the information and explanations given to us, there are no transactions which
are not accounted in the books of account which have been surrendered or disclosed as
income during the year in Tax Assessment of the Company. Also, there is no previously
unrecorded income which has been now recorded in the books of account. Hence, the
provision stated in paragraph 3 fviii) of the Order is not applicable to the Company.
(ixJ According to the information and explanations given to us and based on our examination of
the records of the company, we report tha!
a. The Company has not defaulted in repayment of loans or borrowings or in payment
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of interest thereon to any lender.
b. The company has not been declared wilful defaulter by any bank or financial
institution or government or any government authority.
c. In our opinion and according to the information explanation provided to us, money
raised by way of term loans during the year have been applied for the purpose for
which they were raised
d. No funds raised on short-term basis have been used for long-term purposes by the
company.
e. The company has not taken any funds from any entity or person on account of or to
meet the obligations of its subsidiaries, associates or joint ventures
f. The Company has not raised loans during the year on the pledge of securities held in
its securities, joint ventures or associate companies
(x) According to the information and explanations given to us and based on our examination of
the records of the company, we report that;
a. The Company has raised money by way of initial public offer i.e" Non-Convertible
Debt Securities during the year and money raised have been applied for the purpose
for which they were raised.
b. According to the information and explanations given to us and based on our

examination of the records of the company, the company has not made any
preferential allotment or private placement of shares or fully, partly or optionally
convertible debentures during the year. Accordingly, the provisions stated in
paragraph 3(x)(b) of the Order are not applicable to the Company.
(xiJ During the course of our audit, examination of the books and records of the Company,
carried out in accordance with the generally accepted auditing practices in India, and
according to the information and explanations given to us, we report that
a. We have neither come across any instance of material fraud by the company nor on
the company during the course of audit of the financial statement for the year ended
31.March2022.
b. We have not come across of any instance of material fraud by the company or on the
Company during the course of audit of the standalone financial statement for the
year ended March 31,2022, accordingly the provisions stated in paragraph (xi)(b)
of the 0rder is not applicable to the Company.
c. As represented to us by the management, there are no whistle-blower complaints

received by the Company during the course of audit. Accordingly, the provisions
stated in paragraph (xi) (c) of the Order is not applicable to company.
(xii) In our opinion and according to the information and explanations given to us, the Company
is not a Nidhi Company. Accordingly, the provisions stated in paragraph (xii) (a) to (c) of the
Order are not applicable to the Company.
(xiii) According to the information and explanations given to us and based of our examination of
the records of the company, transactions with the related parties are in compliance with
sections I77 and 1BB of the Act, where applicable and details of such transactions have
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been disclosed in the financial statements as required by the applicable accounting
standards,
(xiv) The company has internal audit system commensurate with the size and nature of the
business and we have considered Internal Audit reports issued by Internal Auditors during
the audit.
(xv) In our opinion and according to the information and explanations given to us, during the
year the company has not entered into any Non-Cash transactions with its directors or
directors of its holdings, subsidiary or associates company or persons connected with them
and hence provisions of sections 192 of the companies Act, 2073 are not applicable to the
company. Accordingly, the provisions stated in paragraph (xv) of the 0rder are not
applicable to the Company
(xvi) According to the information and explanations give to us, in respect of Registration RBI Act:
a. The Company is required to and has been registered under Section 45-lA ofthe Reserve
Bank of Indi a Act, 1934 as Non-Banking Financial Company.
b. The Company has not conducted any Non-Banking Financial activities without a valid
Certificate of Registration (CoR) from the Reserve Bank of India as per the Reserve Bank
of India Act,7934.
c. The company is not a Core Investment Company (CIC) as defined in the regulations
made by the Reserve Bank of India.
d. The Company does not have more than one CIC as a part of its group. Hence, the
provisions stated in paragraph clause 3 (xvi)(d) of the Order are not applicable to the
Company.
(xvii) Based on the overall review of financial statements of the company has incurred cash losses
only during the immediately preceding financial year but has not incurred any cash losses
during the current financial year.
(xviii) There has been resignation of the statutory auditors during the year due to guidelines
issued by Reserve Bank of India for appointment of statutory auditors viaRBl/2027'22/25
Ref.No.Dos.CO.ARG.SEC.01/08.91.001/202L-22 dated April 27,2027 and there were no
issues, objections or concerns raised by the outgoing auditors.
(xix) According to the information and explanations given to us and based on our examination of
financial ratios, ageing and expected date of realization of financial assets and payment of
liabilities, other information accompanying the standalone financial statements, our
knowledge of the Board of Directors and management plans, we are of the opinion that no
material uncertainty exists as on the date of audit report and the company is capable of
meeting its liabilities existing at the date of balance sheet as and when they fall due within a
period of one year from the balance sheet date.
(xx) According to the information and explanations given to us, the provisions of section 135 of
the Act are not applicable to the company. Hence, the provisions of paragraph (xx)(a) to (b)
of the Order are not applicable to the Company.
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(xxi) Since company is standalone entity and hence reporting under clause (xxi) of CARO 2020
with respect to Qualification or adverse remarks in CARO reports of group companies is not
applicable.
Yours Sincerely
For S K Patodia & Associates

Chartered Accountants
Firm Reg. No.:772723W
Sandeep Mandawewala
Partner
Membership No.:1779L7
UDIN: 22777 9 t7 AKIV{Y GZLT 9
Place: Mumbai
Date:07 ltne2022
Annexure B to the IndependentAuditor's Report
Independent Auditor's Report on the Internal Financial Controls over Financial Reporting
under Clause (i) of Sub - section 3 of Section 143 of the Companies Act,2OL3 ("the Act")
t. We have audited the Internal Financial Controls over Financial Reporting of Mintifi Finserve Private
Limited ("the Company") as of 31 March 2022 in conjunction with our audit of financial statements
of the Company for the period ended on that date.
Management's Responsibility for Internal Financial Controls over financial reporting.
The Company's Management is responsible for establishing and maintaining internal financial
controls based on the internal control over financial reporting criteria established by the Company
considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls over Financial Reporting (the 'Guidance Note'J issued by the Institute of
Chartered Accountants of India [,'lCAIJ. These responsibilities include the design, implementation
and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of the its business, including adherence to Company's
policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of reliable
financial information, as required under the Act.
Auditor's Responsibility
3. Our responsibility is to express an opinion on the Company's internal financial control over
financial reporting based on our audit. We conducted our audit in accordance with the Guidance
Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and
Standards on Auditing ("the Standard"), issued by ICAI and deemed to be prescribed under section
143(10) of the Act, to the extent applicable to an audit of internal financial control over financial
reporting, both issued by the ICAL Those Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether adequate internal financial controls over financial reporting was established and
maintained and if such controls operated effectively in all material respects.
4. Our Audit involves performing procedures to obtain audit evidence about the adequacy of the
internal financial controls over financial reporting and their operating effectiveness' Our audit of
internal financial controls over financial reporting included obtaining an understanding of internal
financial control over financial reporting, assessing the risk that a material weakness exists, and
testing an evaluating the design and operating effectiveness of internal control based on the
assessed risk. The procedures selected depend on the auditor's judgment, including the assessment
of the risks of material misstatement of the financial statements, whether due to fraud or error'
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion on the Company's internal financial control over financial reporting'
Meaning of Internal Financial Control over Financial Reporting
6. A Company's internal financial control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external pr.poier in accordance with generally accepted accounting principles. A
Company's internal finincial control over financial reporting includes those policies and
p.o.udri". that (1) pertain to the maintenance of records that, in reasonable detail, accurately and
iairly reflect the iransactions and disposition of the assets of the Company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial statements
in accordance with generally accepted accounting principles, and that receipts and expenditures of
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the Company are being made only in accordance with authorizations of management of the
Company; and (3) provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of the Company's assets that could have a material
effect on the financial statements.
Inherent Limitation of Internal Financial Control over Financial Reporting
7. Because of the inherent limitation of internal financial control over financial reporting, including
the possibility of collusion or improper management override of controls, material misstatements
due to error or fraud may occur and not be detected. Also, projections of any evaluation of the
internal financial controls over financial reporting to future periods are subject to the risk that the
internal financial control over financial reporting may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls
over financial reporting and such internal financial controls over financial reporting were operating
effectively as at 31 March 2022 based on the internal control over financial reporting criteria
established by the Company, considering the essential components of internal control stated in the
Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the ICAI.
Yours Sincerely
For S K Patodia & Associates

Chaftered Accountants
Firm Reg. No.: Ll2723W
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Sandeep Mandawewala
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Partner
Membership No.: 117917
UDIN: 227L7 9 17 AKIV{Y GZLT 9
Place: Mumbai
Date:07 lune2022
MINTIFI FINSERVE PRIVATE LIMITED
BALANCE SHEET AS AT MARCH 3L,2022
Rs. in
Particula rs Note No, Asat March 31,2022 As at March 31,202L
EQUITY AND LIABILITIES
Shareholders'Fund
Capital 3 729.25 418.65
Reserves and Surplus 4 29,778.27 7,976.70
30,507.46 8,395.35
Current Liabilities
Term Borrowings 5 7,673.90 1,876.50
Long-Term Provisions 6 83.79 53.33
7,697.69 1,929.83
Liabilities
Payables
-Total outstanding dues of micro enterprises and small enterprises s.10
-Total outstanding dues of creditors other than micro enterprises and s7.37 40.47
small enterprises
Short-Term Borrowings 8 8,5s5.49 4,96r.62
Short-Term Provisions 9 541.99 303.53
ther Current Liabilities 10 5,095.41 1,61.8.77
L4,357.36 6,924.37
52,562.51 L7 56
ASSETS
Non-Current Assets
Property Plant and Equipment 11 87.00 29.L8
Long-Term Loans and Advances 72 7,307.77 994.39
Deferred Tax Asset (Net) 13 LM.60 55.76
Other Non-Current Assets 74 66.O7 81.29
1,605.44 1,160.52
Current Assets
lnvestment 15 9,147.45 2,740.t0
and Cash Equivalents 15 2,762.34 659.9s
-Term Loans and Advances 77 38,806.93 t2,477.93
Current Assets 18 240.35 2t0.96
50,9s7.O7 15,088.94
TOTAL 52,562.51 t?,14156
of Policies
The accompanying notes are an integral part of these financial statements.
As per our report of even date
For S K Patodia & Associates For and on behalf of the Board of Directors of
Chartered Accountants Mintifi Finserve Private Limited
Firm Registration No. 112723W Cl N: U65990MH2018PTC304289
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Sandeep Mandawewala
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Ankit Mehta
Pa rtner Director Director
Membership No: 117917 DIN:06948030 DIN:06460253
UDIN: 22L17917 AruWYG2l79
Place: Mumbai Place: Mumbai Place: Mumbai

Oate:. June 7, 2022 Date:June7,2022 Date: June 7, 2022
,IFI
FINSERVE PRIVATE LIMITED
ATEMENT OF PROFIT AND LO55 FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
For the year ended For the year ended

Note No. March 31, 2022 March 31, 2021
Revenue
from Operations 19 4,878.14 2,102.17
rther lncome 20 127.54 77.98
otal lncome 5,005.68 2;1 80.1 5
Expenses
Emptoyee Benefit Expenses 21 1,691 .69 952.99
iation and Amortization Expenses 11 17.35 4.21
Finance Costs 22 1,497.17 682.36
Other Expenses 23 1,766.36 923.16
Total Expenses 4,972.57 ,,r*-
Profit I (Loss) Before Tax 33.'t 1 (382. s7)
ax Expense:
Current Tax 23. s9
Deferred Tax (88.84) (5s.76)
Tax Expense (6s.2s) (sa?6)
Profitl (Loss) for the Year 98.36 (326.81
Earnings per share [Nominal value per equity share Rs. '10 (Previous year Rs. 10)l
Basic Earnings Per Share (Rs. Actuals) 1.95 (e.27)
Earnings Per Share (Rs. Actuals) 1.95 (e.27)
Summary of Si Policies
The accompanying notes are an integral part of these financial statements.

Chartered Accountants lilintifi Finserve Private Limited
Firm Registration No. 112723W CIN: U65990MH201 8PTC304289
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Sandeep Mandawewala IryJ Anup e#"
Partner Director Director
Membership No: 117917 DIN:05948030 DIN:06460253
UD I N : 22 1 17 9 1 7 AKJV,{Y G2179
Place: Mumbai Ptace: Mumbai Ptace: Mumbai

Date: June 7,2022 Date: June 7,2022 Date: June 7,2022
NTIFI FINSERVE PRIVATE LIMITED
ASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31,2022
Rs. in Lac
As at March 31,2022 As at March 31,2021
Cash Flow from Operating Activities
Profit I (Loss) Before Tax 33.1 1 (382. s7)
for:
17.35 4.21
expense recognised during the year 17.70
for bad and doubtful debts 102.63 78.20
Provision for restructured loan 7.45 82.94
Expenses utilised against securities premium (3.es)
Statutory provision for standard asset 1 05.34 29.59
Provision for gratuity 29.87 34.30
ng Loss Before Working Capital Changes 309.45 (1 53.33
Changes in Working Capital
Adjustments for:
lncrease / (Decrease) in trade payables 72.06 (31.98)
lncrease in other current tiabitities 3,477.70 1,424.77
lncrease in short-term provisions 214.77 188.21
lncrease / (Decrease) in long-term provisions 0.64 (26.86)
(lncrease) in short-term loans and advances (76,544.42l. (3,842.52)
lncrease) in long-term loans and advances (31 3.37) (s40.44)
in other non-current assets 15.27
(lncrease) in other current assets (2e.3e) (77.52)
Cash used in operations (22,847.341 (3,059.67)
Income tax paid (Net of Refund)
Net cash flows used in operating activities (A) (22,847.341 (3,059.67
Cash flow from lnvesting activities

Purchase of property, plant and equipment (7s.1 8) (28.60)
lnvestment in bank deposit (869.1 2) (687.64)
Amount received on maturity of bank deposits 25.00 865.12
lnvestment in units of mutual funds (35,797.11) (1 3,405.1 9)
Redemption from units of mutuat funds 79,389.76 1'l ,085.32
Net cash flow from investing activities (B) (7,326.651 (2,17O.991
flow from Financing activities

Proceeds from issuance of equity share capitat 22,000.00 2,300.00
Borrowings taken during the year (net) 9,432.26 3,186.52
Net cash flow from financing activities (C) 31 5,4ryn1
,432.26
Net increase / (decrease) in cash and cash equivalents
(A+B+() 1,258,27 255.86
Cash and cash equivatents at the beginning of the year 599.95 344.09
Cash and cash equivalents at the end of the year 1,858.22 599.%
6irl6
VI
CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Cash and cash equivalents comprlle (BeGr Note 16) As at March 3'l , 2022 As at March 31,2021
Cash in hand 2.15 0.55

Batances with banks - ln current accounts 1,856.07 599.40
Total cash and bank balances at end of the year 1,858.72 599.95
Notes :
'1. The above Cash ftow statement has been prepared under the indirect method set out in Accounting Standard-3, "Cash Ftow
Statement" notified under section 1 33 of the Companies Act 201 3, read together with paragraph 7 of the Companies (Accounts)
Rutes 2014.
2. Notes to the financial statement are an integrat part of the Cash Flow Statement.
3. Previous year's figures have been regrouped/rectassified wherever necessary to correspond with the current year's
ctassification/disclosure
Firm Registration No. 117723W CIN : U65990MH201 8PTC304289
L/1*
TD.,," 11Sr:I I
\-liilie^'r;
Sandeep Mandawewala Ankit Mehta
Partner -.'.d Director
Membership No: 117917 DIN:06460253
UDIN: 22'f 17917 AKJWYGZ1T9
Ptace: Mumbai Place: Mumbai Ptace: Mumbai

Date: June 7,2022 Date: June 7,2022 Date: June 7,202?
Mintifi Finserve Private Limited
Notes forming part of the Financial Statements for the year ended March 31,2022
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
1. Background
Mintifi Finserve Private Limited ('the Company')incorporated in lndia onJanuary 11,201,8 is registered
with the Reserve Bank of lndia ('the RBI')as a Non-Banking FinancialCompany ('NBFC')vide Certificate
No. N-13. 02294 dated November 27,2018. lt is a non-deposit taking systemically important Non-
Banking Financial Company ('NBFC-ND-Sl').
The Company is engaged in a range of Financial Services which includes providing loans under the below
mentioned prod uct categories:
a. Supply Chain Finance

b. Term loans
2. Summary of significant accounting policies
a. Basis of Preparation
The financial statements have been prepared in accordance with generally accepted accounting
principles in lndia (lndian GAAP) under the historical cost convention on an accrual basis in
compliance with all material aspects of the Accounting Standards (AS) notified under section 133 of
the Companies Act 2013, read together with Rule 7 of the Companies (Accounts) Rules 2014, the
guidelines as issued by the RBI in respect of NBFCs and other accounting principles generally
accepted in lndia to the extent applicable. The accounting policies adopted in the preparation of
financial statements have been consistently applied.
b. Use of estimates
The preparation of financial statements requires the management to make judgments, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and
disclosure of contingent liabilities, at the end of the reporting period. Although, these estimates are
based on the management's best knowledge of current events and actions, uncertainty about these
assumptions and estimates could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities in future period.
c. Property plant and equipment
Tangible assets
Property, plant and equipment are stated at cost, less accumulated depreciation and impairment
losses, if any. Cost comprises the purchase price and any cost attributable to bringing the assets to
its working condition for its intended use which includes taxes, freight, and installation exclusive of
GST credit or other tax credit available to the Company.
When part of an item of tangible fixed assets have different useful lives, they are accounted for as
separate items (major components) of fixed assets.
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Subsequent expenditure relating to fixed assets is capitalized only if such expenditure result in an
increase in the future benefit from such asset beyond its previously assessed standard
performance.
Depreciation on Propefi, Plant and Equipment
Based on management's evaluation, useful life prescribed in Schedule llof the Companies Act, 2013
represent actual useful life of fixed assets. The Company uses straight line method.
The Company adopts Schedule ll to the Companies Act 2013 which required identification and
determination of separate useful life for each major component of the fixed asset, if they have useful
life that is materially different from that of the remaining asset.
Depreciation on addition to tangible fixed assets is provided on pro-rata basis from the date the
assets are ready for intended use. Depreciation on sale/discard from tangible fixed assets is provided
for upto the date of sale, deduction or discard of tangible fixed assets as the case may be.
Particulars Useful life in years

Computer 3
Furniture 10
d. Employee Benefits
Compensation to employees for services rendered is accounted for in accordance with the AS-15
"Employee Benefits".
Short term employee benefits
Employee benefits payable wholly within twelve months of receiving employee services are
classified as short-term employee benefits. Benefits include salaries, wages and bonus. The
undiscounted amount of short-term employee benefits to be paid in exchange for employee service
is recognized as an expense as the related service is rendered by employee.
Employee Stock Option Plan
Mintifi Private Limited, the holding Company of Mintifi Finserve Private Limited has introduced a
ESOP scheme during the year 2079-20. The ESOP Scheme have come into force on the 1st day of
April 2019 and named as "EMPLOYEES STOCK OPTION SCHEME 20L9". The Scheme is applicable to
management staff in its employment and in subsidiary. The Employee Stock Options granted to an
Employee shall be subject to the terms and conditions set forth in the ESOP Plan. The Cliff period of
12 (twelve) months from the date of the ESOP Policy and the vesting period will be according to the
plan. The total expense is recognized over the vesting period, which is the period over which all the
specified vesting conditions are satisfied.
Post-Em ployment Benefits
Gratuity
The Company pays gratuity to employees who retire or resign after serving for the stipulated period
mentioned under "The Payment of Gratuity Act,1972".
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Notes forming part of the Financia[ Statements for the year ended March 31,2022
Actuarial valuation of the gratuity liability is determined as per AS-15 "Employee Benefits" by an
independent actuary appointed by the Company. ln accordance with the Gratuity Fund's Rules,
actuarial valuation of gratuity liability is calculated based on certain assumptions regarding rate of
interest, salary growth, mortality and staff attrition as per the projected unit credit method.
Provident Fund
The Company makes specified monthly contributions towards employee provident fund to
government administered provident fund scheme which is a defined contribution plan. The
Company's contribution is recognized as an expense in the statement of profit and loss during the
period in which the employee renders the related services.
e. lncome recognition
Interest lncome from financing activities
Fee income charged on processing of loans is recognized upfront on accrual basis.
lnterest income from loan disbursed is accounted for applying the lnterest Rate, implicit in the
agreement, on the reducing balance of the financed amount, overthe period of the agreement, so
as to provide basis except for non-performing assets, in respect of which income is recognized when
received in accordance with Master Direction of the RBl, no income accrued on accounts delinquent
for more than 90 days.
Other income
lnterest income on Fixed Deposit is recognized on a time proportion basis taking into account the
amount outstanding and the rate as applicable.
lnterest on delayed payment is recognized only to the extent of probable recovery as per the best
estimate of management.
Gain or loss on redemption of investments is determined based on the first in first out method (FIFO).
f. Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, bank balances and fixed deposits with original
maturity of less than three months.
o lncome taxes
Tax expense for the period comprises of current tax and deferred tax.
Provision for current tax is made on the basis of estimated taxable income for the current accounting
year in accordance with the lncome-tax Act, 1961,.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set
off the recognized amounts, and there is an intenti le the asset and the liability on a net
basis.
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The deferred tax for timing differences between the book and tax profits for the year is accounted
for, using the tax rates and laws that have been substantively enacted as of the reporting date.
Deferred tax charge or credit reflects the tax effects of timing differences between accounting
income and taxable income for the year. The deferred tax charge or credit and the corresponding
deferred tax liabilities or assets are recognized using the tax rates that have been enacted or
substantively enacted by the balance sheet date. Deferred tax assets are recognized only to the
extent there is reasonable certainty that the assets can be realized in future. Deferred tax assets are
reviewed at each balance sheet date and are written-down or written up to reflect the amount that
is reasonably/virtually certain (as the case may be) to be realized.
At each reporting date, the Company reassesses the unrecognized deferred tax assets, if any.
h. Current-non-current classification
All assets and liabilities are classified into current and non-current.
Assets
An asset is classified current when it satisfies any of the following criteria:
1) lt is expected to be realized in the Company's normal operation cycle;

2) lt is expected to be realized within 12 months after the reporting date; or
3) lt is cash or cash equivalent unless it is restricted from being exchange or used to settle a
liability for at least 12 months after the reporting date.
current assets include the current portion of non-current financial assets.

All other assets are classified as non-current.
Liabilities
A liability is classified as current when it satisfies any of the following criteria:
1) lt is expected to be settled in the Company's normal operating cycle;

2) lt is due to be settled within L2 months after the reporting of date; or
3) The Company does not have an unconditional right to defer settlement of the liability for at least
12 months after the reporting date.
Current liabilities include current portion of non-current financial liability.

All other liabilities are classified as non-current.
Provisions, contingent liabilities, and contingent assets
The Company policy on assets classification and provisioning or write-offs is in accordance with the
prudential norms for lncome Recognition and Assets Classification and provisioning norms prescribed
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by the "Non-Banking Financial Company - Non-Systemically lmportant Non-Deposit taking Company

(Reserve Bank) Directions, 201.6" .
The Company has also created a contingent provision on it's standard assets at0.4O% as perthe RBI
notification D N BS. PD.CC .No.2O7 / 03.02.002 / 2O7O-77 dated Ja n ua ry 17, 2017.
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 a reliable estimate can be made of the amount of
obligation.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that probably will not require and outflow of resources or where a reliable estimate of the obligation
cannot be made.
Contingent assets are neither recorded nor disclosed in the financial statements.
Provision for Non-Performing Assets (NPA)
Provision for Non-Performing Assets (NPA) is made to the extent of 50% on Loan assets with Days Past
Dues (DPD) more than 89 days and 100% of the loan asset outstanding is written off when the DPD
exceeds 1-79 days.
k. GST note
GSTcredit is accounted for in the books in the period in which the underlying service is received. The
company being a NBFC can avail 50% credit on input and input services each month. ln line with this,
a reversal is accounted for GST input credit to the extent of 50% of the total credit available
l. Earnings per share ('EPS')
Basic earnings per share are calculated by dividing the net profit or loss attributable to the equity
shareholders by the weighted average number of equity shares outstanding during the reporting year.
Number of equity shares used in computing diluted of the weighted average number
EPS comprises
of shares considered for deriving basic earnings per share and also weighted average number of equity
shares, which would have been issued on the conversion of all dilutive potential equity shares. Diluted
EPS is computed using the weighted average number of equity shares and dilutive potential equity
shares outstanding during the year except where the results would be anti-dilutive.
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NorEs FoR/r^lNG PART oF THE FINANCIAL STATE^ ENT FoR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Note 3:
As at A{arch 31, As at March 3 l,
Share Capital 2022 2021
Authorised:
78,44,000 equity shares of Rs. 10 each (P.Y. 48,44,000 equity shares) 784.40 484.40
lssued, Subscribed and Paid-up:

72,92,490 equity shares of Rs. 10 each (futty paid-up) (P.y. 41,85,568 equity shares) 729.75 418.66
(Refer Note 3(e) and 3 (f))
Total 729.25 418.66
(a) Reconciliation of Shares and Share Capital As at March 31,2022 As at March 3'1, 2021
Number of shares Amount Number of shares Amount
Outstanding at the beginning of the year 41 ,86,568 418.66 35,00,000 350.00
Add: lssued during the year 31,05,977 31 0.59 6,86,568 68.66
Outstanding at the end of the year 72,92,490 729.25 41,86,568 4 1 8.66
(b) Rights, preferences and restrictions attached to shares

The Company has onty one class of eguity shares having par vatue of Rs. '10 per share. Each sharehotder is entitted to one vote per share hetd. ln the
event of tiquidation of the Company, the hotders of equity shares witt be entitled to receive remaining assets of the Company, after distribution of atl
preferentia[ amounts. The distribution witl be in proportion to the number of equity shares hetd by the sharehotders.
As at March 31, As at March 31,

(c) Shares held by Holding / Promoter Company 2022 2021
Mintifi Private Limited
72,92,489 (March 31 , 2020: 41 ,86,567 ) equity shares of Rs.1 0 each (fu[y paid up) 729.25 418.66
(d) Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company [Refer Note 3(f)]
Name of the shareholder AsatMarch 31,2022 As at lr{arch 31, 2021
No. of shares % of holding No. of shares % of holding
Mintifi Private Limited 72,92,489 100% 41,86,567 100%
72,92,489 100% 41,86,s67 100%
(e) lncrease in authorised share capital

(i) During the financial year 2071-22, the Company has increased the authorised share capitat to INR 784.40 tac divided into 78,,t4,000 equity shares of
INR 10 each vide board meeting dt. December 07, 2021 and extra-ordinary general meeting dt. January 12, 2022. previous yeat ZO2O-21, the Company
has increased the authorised share capital to INR 484.40 lac divided into 48,44,000 equity shares of INR 10 each vide board meeting and extra-ordinary
generat meeting dt. February 15,2021.
(f) lssue of shares
(i) During the financial year 2021-7?, the Board of Directors, in the meeting hetd on February 18,2022 have passed a resotution to issue 25,08,907 fresh
shares of face value INR 10 each at a premium of INR 787.16 per share to the existing shareholders of the Company. The Board has altotted 25,08,907
equity shares in its meeting held on February 18,2022 to Mintifi Private Limited (Hotding Company).
(ii) During the financial yea( 2021-22, the Board of Directors, in the meeting hetd on Aprit 26,7021 have passed a resolution to issue 5,97,015 rights
shares of face vatue INR 10 each at a premium of INR 325 per share to the existing sharehotders of the Company. The Board has altotted 5,97,015 equity
shares in its meeting hetd on Aprit 26,2071 to Mintifi private Limited (Hotding Company).
(iii) During the financial yeat 2020'21, the Board of Directors, in the meeting hetd on March 18,2021 have passed a resolution to issue 6,86,568 rights
shares of face value INR 10 each at a premium of INR 325 per share to the existing sharehotders of the Company. The Board has attotted 6,68,568 equity
shares in its meeting held on March 18,2071 to Mintifi private Limited (Hotd.ing Company).
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NOTES FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Note 4:
Reserves and surplus 2022 2021
(a) Statutory Reserve (Created pursuant to section 45-lC of the Reserve Bank of lndia Act, 1934)
Opening batance 0.39 0.39
Add: Transfer from statement of profit and loss 19.67
Closing balance 20.06 0.39
(b) Balance in statement of profit and loss

Opening balance (4ss.04) (1 28.23)
Add: Profit/(toss) for the year 98.36 (326.81 )
Less: Transfer to statutory reserve (19.67)
Closing balance (376.3 s) (4s 5.04)
(c) Balance in Security Premium 30,1 1 6.80 8,431 .3 s
(d) Employee Stock Options Reserve

Opening batance
Add: Additions during the year 17.70
't7.70
Total 29,778.21 7,976.70
Note 5:
As at A{arch 3 1, As at March 3 1 ,
Long-term borrowings* 2022 2021
Secured
From banks 1,583.35 1,144.98
From others 6,030.55 731.52
Total 7,613.90 1,876.50

'Refer note 8.'l for term of borrowings
Note 6:
Long-term provisions 2022 2021
Contingent provision against standard assets 5.17 3.86

Provision for gratuity (Refer Note 24 and 25) 78.67 49.47
Total 83.79 53.33
Note 7:
As at March 3 I, As at t\Aarch 31,
Trade payables zo22 2021
Total outstanding dues of micro and sma[[ enterprises't 5. 10

Total outstanding dues of creditors other than micro and smalt enterprises. 57.37 40.41
Total 62.47 40.41
'- This is unbitted trade payabte

" lncludes unbitted trade payab[e - Rs. 32.33 lac (Previous year - Rs. 6.08 tac)
Disputed Not Disputed
As at March 31, Asat March As at March 3 1 , As at lr{arch 31,
Ageing of trade payables (from the date of due) 2022 31, 2021 2022 2021
Outstanding for less than 1 year 62.47 40.34
1 -2 years 0.07
Total 62.47 40.41
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NOTES FORMING PART OF THE FINANCIAL STATEAAENT FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Note 8:
As at March 3 1, As at March 3 1 ,
Short-term borrowings 2072 2021
Current maturities of long-term borrowings
Secured
From banks 3,874.97 2,257.76
From others 4,781.52 2,703.86
Total _____!,6!!.4e_ ______!M.62_

Note 8.1 Terms of the borrowings:
Att the borrowings are payabte in monthty EMls with interest ranging from 10.25% to 14.00% per annum. These borrowings are secured by Hypothecation
on loan receivab[es of the company and Cash Collateral of Rs. 50 lac (Refer note '18)
Note 9:
As at March 31, As at llarch 31,
Short-term provisions 2022 2021
Contingent provision against standard assets 152"92 48.84

Provision for gratuity (Refer Note 24 and 25) 0"79 0.18
Provision for restructured loan 90.39 82.94
Provision for bad and doubtfut debts 274"30 171.67
Provision for income tax 23.59
Total 541.99 303.63
Note 10:
As at March 3'1, As at March 31,
Other current liabilities ?o22 2021
lnterest accrued but not due on borrowings 101"76 50.87

Statutory dues payable inctuding tax deducted at source 174.56 32.66
Cash cottateral received from customer (Refer Note 17) 3,618.44 1,307._02
Expense payable 21.00

Other current tiabitity 1,230.65 228.16
Total s,o96.41 1,618.71
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i'AINTIFI FINSERVE PRIVATE LIMITED
NOTES FOR/I lNG PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Note 12:
As at March 3 1, As at ltAarch 31,
Long-term loans and advances 2022 2021
Unsecured and considered good unless othrewise stated

Loans and advances 1,279.52 985.09
Security deposit 28.25 9.30
Total 1,307.77 994.39
Note 1 3:
As at March 3I, As at March 31,
Deferred tax (Net) (Refer Note no. 26) 20?,2 2021
Deferred tax asset

Provision for standard assets 39.78 7.45
Provision for bad & doubtfut debts & restructured loans 91.78 40.56
Gross deferred tax asset (A) 1 51 .56 56.64
Deferred tax liability

Depreciation 3.58 0.88
Attowance of provision for doubtful debts u/s 37(i)(viia) of lncome Tax Act, 1961 3.38
Gross deferred tax liability (B) 6.96 0.88
Net deferred tax asset (A-B) 144.60 55.76
Note 14:
As at March 3 l, As at March 31,
Other non-current assets 2022 2021
-Other bank balance
Deposit with maturity more than 12 months 66.07 81.29
Total 66.O7 81.29
Note I 5:
Current lnvestments
As at i{arch 3 1, As at ltAarch 31 ,
Mutual Funds (quotedl
2022 202'l
lnvestment in MF
- Kotak Low Duration Std Growth
(Units2,70,777.49 as on March 31, 2022. PY Units 48,811.245) 7,355.47 1,280.00
- IDFC Money Manager Fund - Growth - Regular Plan (Units
5,48,524.298 as on March 37,2022. PY Units 2,793,600.305) 179.62 890.00
- IDFC Ultra ShortTerm Fund - Regular Plan (Units Nil as on
March 31, 2022. PY Units 4,791,038.535) 570.1 0
- HDFC Low Duration Fund - Growth (Units 34,50,040.783 as on
March 31, 2022. PY Units Nil) 1,612.36
Total 9,147 .45 2,740.10

*Quoted value as on March 31,2022 is Rs. 9,187.62 lac (PY - Rs. 2,745.01 lac)
/-] rxx 'ft

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NOTES FORA,IING PART OF THE FINANCIAL STATEA,TENT FOR THE YEAR ENDED MARCH 31, 2022
Rs. in Lac
Note 1 6:
As at lt{arch 31, As at /tlarch 31,
Cash and cash equivalents 2022 2021
-Cash balance 2.15 0.55
-Bank balances
ln current accounts 1,856.07 599.40
-Other bank balance

Deposit with maturity [ess than 3 months 850.00
Deposit with maturity more than 3 months but tess than 12 months 54.12 60.00
Total 2,762.34 659.9 5
Note 17:
Short-term loans and advances 2022 202'l
Secured and considered goodr

Secured and considered good from customers 3,618.44 1,424.80
Unsecured
Unsecured and considered good from customers 34,612.10 1 0,765.80
Unsecured and considered doubtful from customers 540.12 265.08
Other loans and advances

Advance to emptoyee 36.27 22.75
Total 38,806.93 12,477.93

- Of the total secured debtors,
Rs. 3,618.,{4 lac (PY: Rs. 1,307.02 [ac) are secured by cash cottateral.
Note 18:
As at March 3 1, As at ltAarch 31 ,
Other current assets 2022 2021
Cash coltateralto borrowers (Refer Note 8.1 ) 50.00 75.00

lnterest accrued but not due 74.24 63.43
GST credit (input receivable) 43.12 14.18
lncome tax credits 4.00 13.18
Prepaid expense 37.51 4.53
Other receivable 30.88 38.1 3
Other current assets 0.60 2.51
Total 240.35 210.96
-,,, ' 1 a
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Notes forming part of the Financial Statements for the year ended March 31, 2022
Rs. in Lac
Note 19:
Revenue from operations March 31, 2022 March 31, 2021
lnterest income
lnterest on toans and advances 4,258.39 1 ,901 .1 8
4,258.39 1,901.18
Fee income
Processing fees 524.87 1 6't .55
Other operating income 94.93 39.44
619.75 200.99
Total 4,878.14 2,102.17
Note 2O:
Other income March 31,2022 March 31, 2021
lnterest on fixed depos'its 21.79 24.38

Gain on redemption of mutual fund 100.25 48.95
lnterest on cash cotlateral 4.17 4.65
lnterest on income tax refund 1 .33
Total 127.54 77.98
Note 21:
Employee benefit expenses March 31, 2022 March 3'l ,2021
Salaries, wages and bonus 1,581 .75 886.48

Contribution to employee provident fund 40.82 23.13
ESOP expense 17.70
Gratuity (Refer Note 25) 29.82 34.30
Staff welfare expenses 21.60 9.08
Total 1,691.69 952.99
Note 22:
Finance costs March 31, 2022 March 31, 2021
lnterest on loan from related party 20.51

lnterest on loan from bank 457.45 1 98.36
lnterest on loan from others 996.12 422.44
Loan processing fees 23.09 61.56
Total 1,497.17 682.36
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IAINTIFI FINSERVE PRIVATE LIMITED
Notes forming part of the Financial Statements for the year ended AAarch 31, 2022
Rs. in Lac
Note 23:
Other expenses March 31,2022 March 31, 2021
Rent '118.68 85.97

Legal and professional expenses 55. 't 3 21.02
Fees and commission 236.36 31.47
Provision for standard assets 't05.34 29.59
Auditor's fee
- Statutory audit 5.00 5.50
- Tax tudit 1.00 0.50
Rates and taxes 86.8'l 40.84
Support fee expenses 9.59
Software expenes 191.78 66.74
Provision for bad and doubtful debts 102.63 78.20
Provision for restructured loans 7.45 82.94
Advances written off (Refer Note 34) 559.69 322.07
Misce[[aneous expenses 22.69 25.45
Office expenses 55.4',1 15.33
Employee insurance expenses 26.02 9.77
Staff traveIting expenses 1?3.16 58.66
Data base access 56.1 8 30.73
Verification fees 13.03 8.79
Total 1,766.36 923.16
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24 Related Party Disclosures
ln accordance with the requirement of Accounting Standard (AS)- 18 on "Related Party Disclosures'
the names of the related parties where control exists /able to exercise significant influence along
with the aggregate transactions/period end balances with them as identified and certified by the
management are given below:
(a) Names of the Related Parties and Related Party Relationship
(i) Where controlexists
Shareholder, Director and Key Management Personnel
- Mintifi Private Limited (Holding Company)

- Anup Vijaykumar Agarwal (Director)
- Ankit Mehta (Director)
- Sanjoy Shome (Director)
( ii) Entity in which Key Management Personnel exercise significant influence
- Mintifi Private Limited
(b) Transactions with the Related Parties

Rs. in Lac
Particulars March 31,2022 March 31, 2021
Mintifi Private [imited
Unsecured loan
Taken during the year 1,190.00
Repaid during the year (1,190.00)
lnterest expense on unsecured loan 20.51
Technical support, commission and reimbursement of
expenses (lnclusive of GST) 525.75 775.12
Transfer in of gratuity liability
Transfer out of gratuity liability 6.O4
lnvestment in equity shares (inclusive of security
premium) (Refer Note 3) 22,000.00 2,300.00
Management Remuneration
Anup Vijaykuma r Aga rwal 48.00 38.20
Ankit Mehta 48.00 38.20
Sanjoy Shome 24.82
(c) Outstanding balances

Rs.in Lac
March 31,2022 March 31,2021
Mintifi Private Limited
Loans payable (lnclusive of lnterest)
Reimbursement of expenses
25. Disclosure pursuant to Accounting Standard - 15 (Revised) 'Employee benefits'
As At As At
Particulars
March 31, 2022 March 31,2021
Type of Benefit Gratuity Gratuity
Country lndia lndia
Reporting Currency INR INR
Accounting Accounting
Reporting Standard Standard 15 Standard 15
Revised (AS 15R) Revised (AS 15R)
Funding Status Unfunded Unfunded
Starting Period 01-Apr-21 01-Apr-20
Date of Reporting 3L-Mar-22 31-Mar-21
Period of Reporting 12 Months 12 Months
As At As At
Assumptions {Closing Period)
March 31,2022 March 31, 2021
Expected Return on Plan Assets N.A. N.A.
Rate of Discounting 7.27% 6.87%
Rate of Salary lncrease 6.OO% 6.OO%
For service 4 years For service 4 years
and below 1.O.OO% and below IO.OO%
Rate of Employee Turnover p.a. For service 5 p.a. For service 5
years and above years and above
2.OO% p.a. 2.OO% p.a.
lndian Assured lndian Assured
Mortality Rate During Employment Lives Mortality Lives Mortality
(2012-14) Urt (2006-08) urt
Mortality Rate After Employment N.A. N.A.
Table Showing Change in the Present Value of Projected AtAs As At

Benefit Obligation March 31,2022 March 31, 2021
Present Value of Benefit Obligation at the Beginning of the
49.65 15.35
Period
lnterest Cost 3.41 1.06
Current Service Cost 26.43 13.17
Liability Transferred in / Acquisitions
(Liability Transferred Out/ Divestments) (6.04)
Actuarial (Gains)/Losses on Obligations - Due to Change in
FinancialAssumptions (s.2s) 0.17
Demogra phic Assum ptions (0.08)
Experience 5.3s 25.94
Present Value of Benefit Obligation at the End of the Period 79.47 49.65
:,kry,# , r.;
As At As At
Table Showing Change in the Fair Value of Plan Assets
March 31,2022 lv{arch 31, 2021
Fair Value of Plan Assets at the Beginning of the Period
Expected Return on Plan Assets
Contributions by the Employer
Expected Contributions by the Employees
(Assets Transferred Out/ Divestments)
(Benefit Paid from the Fund)
(Assets Distributed on Settlements)
Effects of Asset Ceiling
The Effect Of Changes ln Foreign Exchange Rates
Actuarial Gains/(Losses) on Plan Assets - Due to Experience
Actuarial (Gains)/tosses Recognized in the Statement of As At As At

Profit or Loss for Current Period March 31,20?,2 March 31,2021
Actuarial (Gains)/Losses on Obligation For the Period (0.02) 26.77
Actuarial (Gains)/Losses on Plan Asset For the Period
Subtotal (0.02) 26.1,1,
Actuarial (Gains)/Losses Recognized in the Statement of
(0.02) 26.1,1,
Profit or Loss
As At At As
Actual Return on Plan Assets
March 31,2022 March 31, 2021
Expected Return on Plan Assets
Actual Return on Plan Assets
As At As At
Amount Recognized in the Balance Sheet
March 31,207? March 31, 2021
(Present Value of Benefit Obligation at the end of the
(7s.47) (4e.6s)
Period)
Fair Value of Plan Assets at the end of the Period
Funded Status (Surplus/ (Deficit)) (79.47) (4s.6s)

Unrecognized Past Service Cost at the end of the Period
Net (Liability)/Asset Recognized in the Balance Sheet (7s.47l (4e.6s)
As At As At
Net lnterest Cost for Current Period
March 31,2022 March 31,2021
Present Value of Benefit Obligation at the Beginning of the
49.65 15.35
Period
(Fair Value of Plan Assets at the Beginning of the Period)
Net Liability/(Asset) at the Beginning 49.65 15.35
lnterest Cost 3.41 1.06
(Expected Return on Plan Assets)
Net lnterest Cost for Current Period 3.4L 1.06
Expenses Recognized in the Statement of Profit or Loss for As At As At

Current Period March 31,2027 March 31,2021
Current Service Cost 26.43 1,3.17
Net lnterest Cost 3.41 1.06
Actuarial (Ga ins)/Losses (0.02) 26.1,1
Expenses Recognized in the Statement of Profit or Loss 29.82 40.34
As At As At
Balance Sheet Reconciliation
March 31,2022 March 31, 2021
Opening Net Liability 49.65 15.35
Expense Recognized in Statement of Profit or Loss 29.82 40.34
Net Liability/(Asset) Transfer ln
Net ( Lia bility)/Asset Tra nsfer Out (6.04)
(Benefit Paid Directly by the Employer)
(Employer's Contribution)
Net tiability/(Asset) Recognized in the Balance Sheet 79.47 49.65
As At As At
Category of Assets
March 31,2022 March 31, ZO21
Government of lndia Assets
State Government Securities
Special Deposits Scheme
Debt lnstruments
Corporate Bonds
Cash And Cash Equivalents
lnsurance fund
Asset-Backed Securities
Structured Debt
Other
Total
"1. /
1l$,x )T
As At As At
Other Details
March 31, 2022 March 31,2021
No of Active Members 330 194
Per Month Salary For Active Members 140.40 81,.27
Projected Benefit Obligation (PBO) 79.47 49.65
Prescribed Contribution For Next Year (12 Months)
As At As At
Experience Adjustment
March 31,2022 i{arch 31, 2021
Actuarial (Gains)/Losses on Obligations - Due to Experience 5.3s 25.94
Actuarial (Gains/(Losses) on Plan Assets - Due to Experience
26. Deferred Tax (As per Accounting Standard - 22 - Accounting for Taxes on lncome)
in Lac
Rs.
As At As At
Deferred tax (Net) March 31,2022 March 31,2021
Deferred tax asset
Provision for standard assets 39.78 7.45
Provision for bad & doubtful debts & restructured loans 9L.78 40.56
Gross deferred tax asset (A) 151.56 56.54
Deferred tax liability

Depreciation 3.58 0.88
Allowance of provision for doubtful debts u/s 37(iXviia) of
lncome Tax Act, 1961 3.38
Gross deferred tax liability (B) 5.95 0.88
Net deferred tax asset (A-B) L44.60 55.76
Deferred tax asset has been recognized in current year based on financial projections approved by
Board of Directors for the following years. Looking to the profitability, it is certain that the
Company has to make tax payments and hence the deferred tax asset will be utilized.
27. Operating Lease
The Company has significant operating lease arrangements for premises. These agreements range
for 9 months to 33 months. Operating lease rent debited to Statement of Profit and Loss for the
year Rs. 118.68 lakhs inclusive of rent expenses which is paid to Mintifi Private Limited for sharing
workspace. Further minimum lease payment under operating lease is: -
Rs. in Lac
AsAt As At
Particulars
March 31,2022 March 31,2O2L
Not later than 1- year 38.70 21,.20
Later than L Year and not later than 5 Years 33.2s 2L.30
Later than 5 years z15\ Nil Nil
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28. Segment Reporting:
The Company is an NBFC primarily engaged in the business of providing unsecured loans to
individuals and corporates. Accordingly, the Company has concluded that its operations may be
aggregated into one reportable primary segment for the purpose of disclosure required by
Accounting Standard 17 on "Segment Reporting".
The Company is primarily operating in lndia which is considered as a single geographical segment.
29. Earnings per share ('EPS')
Rs. in Lac
Particulars March 31,2022 March 31-,2O2l
Profit available to equity shareholders (A)
Profit/(loss) after tax 98.36 (326.81)
Weighted average number of equity shares

Weighted average number of equity shares (B) (Nos.) 50,36,295 3s,26,334
Basic earnings per share [(A)/(B)] (Rs. Actuals) 1.95 (e.27)

Diluted earnings per share t(A)/(B)l (Rs. Actuals) 1.95 (s.27],
The Company does not have any potential equityshares outstanding duringthe year, hence basic
and diluted EPS of the Company are same.
30. Due to Micro, Small and Medium Enterprises
There is no amount outstanding for more than thirty days to any small-scale industrial undertaking
as at balance sheet date. There are no Micro, Small and Medium Enterprises to whom the
Company owes dues, which are outstanding for more than forty-five days as at the balance sheet
date. The Micro, Small and Medium Enterprises have been identified on the basis of the
information provided by the vendor to the Company.
31. Exposure and Expenditure in Foreign Currency
During the financial year ended March 31-, 2022, the Company has not entered into any foreign
currency tra nsactions.
There is no foreign currency exposure as on March 3'J.,2022.
32. Disclosure of Penalties imposed
No Penalty has been levied on the Company by the Reserve Bank of lndia and other regulators
during the financial year ended March 31,2022.
33. Additional NBFC disclosures
ln accordance with the RBI notification No. RBI/DNBR/2OL6-17144 Master Direction

DNBR.PD.007/03.10.1,79/201,6-17 dated September 1, 2076
- Master Direction - Non-Banking
Financial Company - Non-Systemically lmportant Non-Deposit taking Company (Reserve Bank)
Directions, 2016 (the "Master Directions"), refer itional NBFC disclosure.
,,,.,,,,
34. During the Year the Company has written off Advances of Rs. 559.69 lakhs
35. On February L5,2022, Reserve Bank of lndia (RBl) had issued a circular (RBll202L-202211,58
DOR.STR.REC.85/21.04.048/2021-22) providing extension till September 30, 2022 to
implement its previous circular (RBl/2021,-2022/125 DOR.STR.REC.68/27.04.048/2O21-22)
issued on November 12,2021,, mandating changes in lncome Recognition, Asset Classification
and Provisioning Norms (IRACP norms) pertaining to Advances. Accordingly, the Company
opted to implement the updated norms w.e.f. Octob er O1, 2022.
36. Disclosure of Restructured Accounts
Details for FY-21-22 Rs. in Lac
sl. Type of Restructuring Others

5ub-
No. Asset Classification Details Standard Doubtful Loss Total
Standard
1 Restructured Accounts as on No. of borrowers 274 6 280
April 1 of the FY 2021 (opening
figu res)
Amount outstanding (Rs.) 1,643.37 15.43 1,658.79
Provision thereon (Rs.) 82.17 0.77 82.94
2 Fresh restructuring during the No. of borrowers 272 2L2
year
Amount outstanding (Rs.) r,404.56 7,404.56
Provision thereon (Rs.) 740.46 140.46
3 Upgradations to
restructured No. of borrowers 4 (4)
standard category during the FY
Amount outstanding (Rs.) 5.58 (s.s8)
Provision thereon (Rs.) 0.28 (0.28)
4 Restructured standard advances
which cease to attract higher No. of borrowers
provisioning and / or additional
risk weight at the end of the FY
Amount outstanding (Rs.)
and hence need not be shown as
restructured standard advances
Provision thereon (Rs.)
at the beginning of the next FY
5 Down gradations of restructured No. of borrowers (ss) 55
accounts during the FY 2O2t-22
Amount outstanding (Rs.) (1es.eo) 195.90
Provision thereon (Rs.) (18.70) (18.70)

5 Write-offs / Settlements / No. of borrowers (167l. (2) 76 (e3)
Recoveries of restructured
accounts during the
Amount outstanding (Rs.) (1,s67.58) (s.84) 266.02 (1,311.s0)
FY
Provision thereon (Rs.) (113.82) (0.4s) (114.31.)
7 Restructured Accounts as on No. of borrowers 268 55 76 399
March 31 of the FY 2022 (closing
f igu res)
Amount outstanding (Rs.) 1,289.93 195.90 265.02 1,751.85
Provlsion thereon (Rs.) 90.39 90.39
1$%;
[ir,]j
Details for FY-20-21
sl. Tvpe of Restructurins Others

Sub-
No. Asset Classif ication Details Standard Doubtful Loss Total
Standard
Restructured Accounts as on No. of borrowers
1. April 1 of the FY 2020 Amount outsta nding (Rs.)
(opening figures) Provision thereon (Rs.)
No. of borrowers 307 307
Fresh restructuring during the
2 Amount outstanding (Rs.) 2,L80.t6 2,180.1,6
yea r
Provision thereon (Rs.) 109.01 109.01
Upgradations to
restructured No. of borrowers
3 standard category during the Amount outsta nding (Rs.)
FY Provision thereon (Rs.)
Restructured standard
No. of borrowers
advances which cease to
attract higher provisioning
Amount outstanding (Rs.)
and / or additional risk weight
4 at the end of the FY and hence
need not be shown as
restructured standard Provision thereon (Rs.)
advances at the beginning of
the next FY
Down gradations of No. of borrowers (6) 6
5 restructured accounts during Amount outstanding (Rs.) (22.24], 22.24
the FY 2020-21 Provision thereon (Rs.) 1.11 1.11
Write-offs / Settlements / No. of borrowers (271 (27)
5 Recoveries of restructured Amount outstanding (Rs.) (s14.s6) (6.82) (s2r.37)
accounts during the FY Provision thereon (Rs.) (26.84) (0.34) (27.81.1
Restructured Accounts as on No. of borrowers 274 6 280
7 March 31 of the FY 2021 Amount outstanding (Rs.) L,643.37 15.43 1,658.79
(closing figures) Provision thereon (Rs 82.L7 0.77 82.94
* lncludes movement of Amount Outstanding and Provision thereon of the Existing Restructured
Accounts.
37. Employee Stock Option Plan (ESOP)
The Board of Directors of the Mintifi Private Limited ("Holding Company") at its meeting has
reserved L,77,9L2 Equity Shares of Rs. 10 each for offering to Eligible Employees of the Holding
Company and its Subsidiary (Mintifi Finserve Pvt Ltd) under its ESOP plan. Of these, the Company
has this year granted 6,000 options at a price of Rs. 10 per option to its Employees. This option
would vest post 1 year of cliff period and over a period of 3 years from the date of grant, i.e., 1,/3
of each year.
Weighted average
exercise price (Rs.)
Outstanding at the beginning of the year
Granted during the year
Forfeited during the year
Exercised during the year
Expired during the year
Outstanding at the end of the year 7,372
Exercisable at the end of the year
',u'x
The Company follows fair value method to account for the ESOP cost. The fair value of options
used are estimated on the date of grant using the Black-Scholes Model. These options are vested
on graded basis, so the cost of compensation is also recorded on time proportionate of vesting.
38. There are no immovable properties held by the Company during the year.
39. There are no CapitalWork-in-progress as on balance sheet date.
40, There are no lntangible assets under development as on balance sheet date.
41. There are no proceedings initiated or pending against the Company under the Benami
Transactions (Prohibitions) Act, 1988 (45 of 1988) and the Rules made thereunder.
42. During the year, Company is not declared wilful defaulter by any bank or financial institution
or other lender.
43. Company has not entered into any transaction with struck off companies during the year also
there are no outstanding balance as on balance sheet date.
44. There are no charges or satisfaction with Registrar of Companies not registered beyond the
statutory period.
45. Company doesn't have investment in any subsidiary, associate or joint venture during the
year. Compliance with the number of layers prescribed under clause (87) of section 2 of the
Act read with Companies (Restriction on number of Layers) Rules, 2OL7 is not applicable.
46. Compliance with provisions of Section 230 to 237 of the Companies Act, 2013 is not applicable
as there are no schemes of arrangement entered into during the year.
47. During the year, Company has raised equity from Holding Company and borrowings from
banks & financial institutions. The funds are utilized for the purpose they were availed. There
is also utilization from Securities premium towards payment of applicable duties and fees for
raising authorized share capital.
48. Company has not traded or invested in any crypto currency or virtual currency during the
financialyear.
49. During the year, there is no undisclosed income which has been surrendered or disclosed
during tax assessment under the lncome Tax Act, 1961.
50. Company is not covered under section 135 of the Companies Act, 2013 as Company's
networth, total income and net profit is below the limits prescribed under section 135(1) of
the Act.
51. There are no contingent liability or commitments as on balance sheet date.
-{FI tlrl
52. AnalyticalRatios-
Numerator Denominator March March 31,

Ratios 3,-,2022 202L
Current assets Current
Current ratio liabilities 3.55 2.32
Long-term Shareholder's
borrowings + fund
Short-term
Debt-equity ratio borrowings 0.53 0.81
Net profit after Finance costs +
tax + Long-term
Depreciation + borrowings +
Provision for Short-term
standard assets + borrowings
Provision for bad
and doubtful
debts + Provision
for restructured
loans + ESOP
expense +
Debt service coverage ratio Gratuity expense 0.02 Negative
Net profit after Shareholder's
Return on equity ratio tax fund 0.00 Negative
I nventory turnover ratio NA NA NA NA
Trade receiva bles turnover NA NA
ratio NA NA
Trade payables turnover ratio NA NA NA NA
Net capital turnover ratio NA NA NA NA
Revenue from Net profit after
Net profit ratio operations tax 0.02 Negative
Net profit after Shareholder's
tax fund - Deferred
tax asset +
Long-term
borrowings +
Short-term
Return on capital employed borrowings o.o7% Negative
Return on investment NA NA NA NA
Explanation for variance of more than 25%-
Current ratio - lncrease in current ratio is majorly due to upward scaling of business
operations of the company during the year. With increase in the networth of the Company,
there was a corresponding increase in the current assets thereby increasing the current ratio.
b. Debt-Equity ratio - During the year, the networth of the Company has increased to INR
30,507.47 lac from INR 8,395.36 lac and Debt also increased to INR 1,6,270.38|ac from INR
6,838.12 lac. This has led to decrease in
:i1.
i1 'it, ' ,
t.
53. Previous year's figures have been regrouped/reclassified wherever necessary to correspond
with the current year's classification/disclosure.
Firm Registration No" tt2723W CIN : U55990MH 2018PTC304289
rDP"
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Sandeep Mandawewala Anup Vijayllum arls Ankit Mehta
Partner Director Director
Membership No:117917 DIN: 06948030 DIN: 06460253
UDIN : 22 1 17 9 17 AKJ\tr)(G?17 9
Place: Mumbai Place: Mumbai Place: Mumbai

Date: June 7,2022 Date: June 7,2022 Date: June 7,2022
T1
Annexure - I
Schedule to the Balance Sheet as on March 31,2022
Particulars Rs. in Lac

Liabilities side: March 31, 2022
(1) Loans and advances availed by the non-banking
Amount Amount
finance Company inclusive of interest accrued
outstanding overdue
thereon but not paid:
(a) Debentures: Secured
: Unsecured
(Other than fatling within the meaning of pubtic
deposits.)
(b) Deferred Credits
(c) Term Loans 'l '1,045.38
(d) lnter-corporate loans and borrowings
(e) CommerciaI Paper
(f) Pubtic deposits.
(g) Non-Convertible Debentures 5,225.00
(h) Other Loans
*Ptease
see Note 1 below
Break-up of loans and advances including bills
(2t receivables [other than those included in (4)
belowl:
(a) ln the form of unsecured debentures
(b) ln the form of partty secured debentures i.e.
debentures where there is a shortfall in the value
of security
(c) Other pubtic deposits
*Ptease
see note 1 below
Assets side: Amount outstanding
(3) Break-up of Loans and Advances including bills
receivables [other than those included in (41
belowl:
(a) Secured 3,618.44
(b) Unsecured 36,431.74
er sqn sp vr rgqJgu qJJgLJ qttv )lvLN vtt tttt E qttu
(4) other assets counting towards asset financing

activities
(i) Lease assets inctuding lease rentats under sundry
debtors:
(a) Financial lease
(b) Operating lease
(ii) Stock on hire including hire charges under
sundry debtors:
(a) Assets on hire
-4
(b) Repossessed Assets
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(iii) Other loans counting towards asset financing

activities
(a) Loans where assets have been repossessed
(b) Loans other than (a) above
Break-up of lnvestments:
(a) Equity
(b) Preference
(ii) Debentures and Bonds
(iii) Units of mutual funds 9,147 .45
(a) Equity
(b) Preference
(iii) Units of mutual funds
(iv) Government Securities
(v) Others (ptease specify)
(i) Shares
(a) Equity
(b) Preference
(v) Others (please specify)
(b) Preference
(v) Others (ptease specify)
Borrower group-wise classification of assets financed as in (3) and (a) above :
Please see note 2 below
Unsecured
1. Related Parties**
(a) Subsidiaries
(b) Companies in the same
(c) Other related parties

2. Other than retated Parties 3,618.44 36,431.74
Total 3,618.44 36,431.74
(71 lnvestor group-wise classification of all investments (current and long term) in shares
and securities (both quoted and unquoted)
Please see note 3 below
Market Book Value
Category value/Fair (Net of
value or NAV provlgien!)
1. Related Parties**
(a) Subsidiaries
(b) Companies in the same qroup
(c) Other related parties
2. Other than related Parties
Total
** As per Accounting
Standard of lCAl (Ptease refer note 3)
(8) Other lnformation

Particulars Amount
(i) Gross Non-Performinq Assets
(a) Retated parties
(b) Other than retated parties 540.12
(ii) Net Non-Performing Assets
(a) Retated parties
(b) Other than retated parties 270.06
(iii) Assets acquired in satisfaction of debt
Notes:
1. As defined in point xix of paragraph 3 of Chapter -2 of the Master Directions.
2. Provisioning norms shatl be applicabte as prescribed in the Master Directions.
3. At[ Accounting Standards and Guidance Notes issued by the lnstitute of Chartered
Accountants of lndia (lCAl) are appticabte inctuding for vatuation of investments and
other assets as atso acquired in satisfaction of debt. However, market value in respect of
quoted investments and break up / fair vatue / NAV in respect of unquoted investments
shatl be disctosed irrespective of whether they are catted as long term or current in (5)
above.
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Financial Staements Duly Authenticated As Per Section 134 (Including Boards Report, Auditors Report and Other Documents) - 29102022

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Financial Staements Duly Authenticated As Per Section 134 (Including Boards Report, Auditors Report and Other Documents) - 29102022

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SKParodin&Associnres

Independent Auditor's Report

Report on the Audit of the Financial Statements

Auditor's Responsibilities for the Audit of Financial Statements:

..tt'l .gl {fl

Report on Other Legal and Regulatory Requirements

there were any material foreseeable losses; and

and Protection Fund by the Company.

For S K Patodia &Associates

[1) In respect of the company's fixed assets :

a. The Company is involved in the business of rendering services. Accordingly, the

No. ot PrinciPal lnterest Total Remarks (specify whether reasonable steps

a. The Company has not defaulted in repayment of loans or borrowings or in payment

b. According to the information and explanations given to us and based on our

c. As represented to us by the management, there are no whistle-blower complaints

For S K Patodia & Associates

Management's Responsibility for Internal Financial Controls over financial reporting.

Meaning of Internal Financial Control over Financial Reporting

Inherent Limitation of Internal Financial Control over Financial Reporting

For S K Patodia & Associates

Particula rs Note No, Asat March 31,2022 As at March 31,202L

EQUITY AND LIABILITIES

TOTAL 52,562.51 t?,14156

As per our report of even date

Place: Mumbai Place: Mumbai Place: Mumbai

For the year ended For the year ended

Tax Expense (6s.2s) (sa?6)

Profitl (Loss) for the Year 98.36 (326.81

As per our report of even date

Place: Mumbai Ptace: Mumbai Ptace: Mumbai

Cash flow from lnvesting activities

flow from Financing activities

Cash in hand 2.15 0.55

As per our report of even date

Ptace: Mumbai Place: Mumbai Ptace: Mumbai

SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS

a. Supply Chain Finance

2. Summary of significant accounting policies

c. Property plant and equipment

Depreciation on Propefi, Plant and Equipment

Particulars Useful life in years

Short term employee benefits

Employee Stock Option Plan

Post-Em ployment Benefits

Interest lncome from financing activities

Fee income charged on processing of loans is recognized upfront on accrual basis.

f. Cash and cash equivalents

1) lt is expected to be realized in the Company's normal operation cycle;

current assets include the current portion of non-current financial assets.

A liability is classified as current when it satisfies any of the following criteria:

1) lt is expected to be settled in the Company's normal operating cycle;

Current liabilities include current portion of non-current financial liability.

Provisions, contingent liabilities, and contingent assets

Mintifi Finserve Private Limited

by the "Non-Banking Financial Company - Non-Systemically lmportant Non-Deposit taking Company

Provision for Non-Performing Assets (NPA)

l. Earnings per share ('EPS')

lssued, Subscribed and Paid-up:

(b) Rights, preferences and restrictions attached to shares

As at March 31, As at March 31,

(e) lncrease in authorised share capital

(f) lssue of shares

(b) Balance in statement of profit and loss