(l) Provisions and contingent liabilities

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable
that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present
obligation at the end of the reporting period.

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but their existence will be confirmed
by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the Company or where
any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation
cannot be made.

(m) Revenue recognition

The Company derives revenues primarily from sale of traded goods and related services. The Company is also engaged in offering
advisory services in capacity of investment manager to 'Alternate Investment Fund', Loan processing services and other professional
services.

Revenue is recognized on satisfaction of performance obligation upon transfer of control of promised products or services to customers
in an amount that reflects the consideration the Company expects to receive in exchange for those products or services.

The Company recognises provision for sales return, based on the historical results, measured on net basis of the margin of the sale.
Therefore, a refund liability, included in other current liabilities, are recognized for the products expected to be returned.

The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to
the customer and payment by the customer exceeds one year. As a consequence, it does not adjust any of the transaction prices for
the time value of money.

The Company satisfies a performance obligation and recognises revenue over time, if one of the following criteria is met:

1 The customer simultaneously receives and consumes the benefits provided by the Company's performance.

2 The Company's performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or

3 The Company's performance does not create an asset with an alternative use to the Company and an entity has an enforceable
right to payment for performance completed to date.

For performance obligations where one of the above conditions are not met, revenue is recognised at the point in time at which the
performance obligation is satisfied.

Revenue from sale of products and services are recognised at a time on which the performance obligation is satisfied. Amounts
disclosed as revenue are exclusive of Goods and Service Tax as applicable.

Revenue from sale of advisory services are recognised at a time on which the performance obligation is satisfied. Amounts disclosed
as revenue are exclusive of Goods and Service Tax as applicable.

(n) Employee benefits

(i) Defined benefit plans

For defined benefit plans, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial
valuations being carried out at each balance sheet date. Actuarial gains and losses are recognised in full in the other comprehensive
income for the period in which they occur. Past service cost both vested and unvested is recognised as an expense at the earlier of
(a) when the plan amendment or curtailment occurs; and (b) when the entity recognises related restructuring costs or termination
benefits.

The retirement benefit obligations recognised in the balance sheet represents the present value of the defined benefit obligations
reduced by the fair value of scheme assets. Any asset resulting from this calculation is limited to the present value of available
refunds and reductions in future contributions to the scheme.

(ii) Defined contribution plans

The Company's contribution towards Provident Fund and Family Pension Fund, which are defined contribution, are accounted
for on an accrual basis and recognised in the Statement of Profit & Loss in the year in which they incur.

(iii) Compensated absences

Compensated absences are provided for on the basis of an actuarial valuation, using projected unit credit method, as at the date
of the balance sheet, actuarial gains / losses, if any, are immediately recognized in the statement of profit and loss.

(iv) Employee Options

The fair value of options granted is recognised as an employee benefit expense with a corresponding increase in equity. The
total amount to be expensed is determined by reference to the fair value of the options granted:

* including any market performance conditions

* excluding the impact of any service and non-market performance vesting conditions, and

* including the impact of any non-vesting conditions

(o) Foreign currency translation

(i) Functional and presentation currency

The financial statements are presented in Indian rupee (INR), which is Company's functional and presentation currency.

(ii) Transactions and balances

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains
and losses on settlement of foreign currency transactions are recognised in the Statement of Profit and Loss.

(p) Income tax

The income tax expense or credit for the period is the tax payable on the current period's taxable income based on the applicable
income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused
tax losses.

Deferred income tax is provided in full, using the liability method on temporary differences arising between the tax bases of
assets and liabilities and their carrying amount in the financial statement. Deferred income tax is determined using tax rates
(and laws) that have been enacted or substantially enacted by the end of the reporting period and are excepted to apply when
the related deferred income tax assets is realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses, only if, it is probable that
future taxable amounts will be available to utilise those temporary differences and losses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities
and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are off set where
the Company has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle
the liability simultaneously.

Current and deferred tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to items recognised
in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or
directly in equity, respectively.

Minimum Alternate Tax credit is recognised when and to the extent there is convincing evidence that the Company will pay
normal income tax during the specified period.

(q) Earnings per share

The basic earnings per share is computed and disclosed by dividing the net profit after tax attributable to equity shareholders
for the year by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share is computed and disclosed using the weighted average number of equity shares outstanding during
the year, adjusted for the effects of all dilutive potential equity shares, if any.

(r) Impairment of financial assets

The Company applies expected credit loss (ECL) model for measurement and loss allowance on the following:

1 Trade receivables and Lease receivables

2 Financial assets measured as at amortised cost (other than trade receivables)

In case of Trade receivables and Lease receivables, the Company follows simplified approach wherein an amount equal to lifetime
ECL is measured and recognised as loss allowance.

In case of other assets, the Company determines if there has been significant increase in credit risk of financial asset since initial
recognition. If the credit risk of such assets has not increased significantly, an amount equal to 12 months ECL is measured and
recognised as loss allowance.

Subsequently, if the credit quality of financial asset improves such that, there is no longer a significant increase in credit risk
since initial recognition, the Company reverts to recognising impairment loss allowance based on 12 months ECL.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with Contract and all the
cash flows that the entity expects to receive (i.e. all cash shortfalls), discounted at the original effective interest rate.

Lifetime ECL are expected credit losses resulting from all possible default events over the expected life of financial assets. 12
months ECL are a portion of Lifetime ECL which result from default events that are possible within 12 months from the reporting
date.

ECL are measured in a manner that, they reflect unbiased and probability weighted amounts determined by range of outcome,
taking into account the time value of money and other reasonable information available as result of past events, current conditions
and forecasts of future economic conditions.

As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on its portfolio of trade receivables.
The provision matrix is prepared based on historically observed default rates over the expected life of trade receivables and is
adjusted for forward looking estimates. At each reporting date, the historically observed default rates and change in forward
looking estimates are updated.

ECL impairment loss allowance (or reversal) recognised during the period is recognised as income / expenses in Statement of
Profit and Loss under the head 'Other expenses'

Share based payment

Created out of retained earnings for the issuance of ESOP
Capital Reserve

Capital reserve will be utilised in accordance with provision of the Companies Act, 2013
Capital Redemption Reserve

Amount of ? 5436.00 Lakhs was created out of Securities Premium Amount and same become part of Balance Sheet pursuant to merger
of ITI Management Advisors Limited

Amount of ? 225.00 Lakhs was created pursuant to redemption of Redeemable Preference Shares and created out of Retained Earnings
pursuant to Section 55 of the Companies Act, 2013

Securities Premium Account

Securities premium Account is used to record the premium on issue of shares. These reserve will be utilised in accordance with the provisions
of the Companies Act, 2013

General Reserve

Created out of retained earnings

Equity component of compound financial instruments

732,000 Optionally Convertible Preference Shares (OCPS) of ?325/- each were issued pursuant to demerger of lending business of ITI Gold
Loans Limited (erstwhile known as "United Petro finance Limited") in to ITI Credit Ltd (erstwhile known as Fortune Credit Capital Limited)
pursuant to conversion option.

During the financial year 2022-23, pursuant to conversion option exercised by the holder of 721,950 number of Optionally Convertible
Preference Shares (OCPS), the Company has allotted 721,950 equity shares as per the terms of the issuance of Optionally Convertible
Preference Shares.

Retained Earnings

Retained Earnings represents the accumulated profits of the the company.

32 FINANCIAL RISK MANAGEMENT

The Company's activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company's risk
management assessment and policies and processes are established to identify and analyze the risks faced by the Company, to set
appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management policies
and processes are reviewed regularly to reflect changes in market conditions and the Company's activities.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations, and arises principally from the Company's receivables from customers, loans and investments. Credit risk is managed through
credit approvals, establishing credit limits and continuously monitoring the creditworthiness of counterparty to which the Company grants
credit terms in the normal course of business.

Trade receivables

The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company uses a provision
matrix to compute the expected credit loss amount. The provision matrix takes into account external and internal risk factors and historical
data of credit losses from various customers.

The Company's interest bearing financial assets are primarily fixed in nature. Hence, the Company is not significantly exposed to interest
rate risk.

33 CAPITAL RISK MANAGEMENT

The Company aim to manages its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns
to our shareholders.

The Company monitors capital on the basis of the carrying amount of debt less cash and cash equivalents as presented on the face of the
financial statements.

The Company's objective for capital management is to maintain an optimum overall financial structure.

35 FAIR VALUE MEASUREMENT

Financial Instrument by category and hierarchy

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair values:

1. Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term
loans from banks and other financial institutions approximate their carrying amounts largely due to short term maturities of these
instruments.

2. Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rates
and individual credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for expected losses
of these receivables. Accordingly, fair value of such instruments is not materially different from their carrying amounts.

The fair values for loans, security deposits and investment in preference shares were calculated based on cash flows discounted using a
current lending rate. They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including
counter party credit risk.

The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level
3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.