May 27, 2023

BSE Limited National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor,
Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex,
Mumbai 400 001 Bandra (East), Mumbai 400 051
BSE Scrip Code: 540709 NSE Scrip Symbol: RHFL

Dear Sir(s),

Sub.: Audited Financial Results for the quarter and financial year ended March 31, 2023

Further to our letter dated May 23, 2023 and pursuant to Regulation 33 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith
the Audited Financial Results for the quarter and financial year ended March 31, 2023 alongwith
Independent Auditors’ Report and Statement on Impact of Audit Qualifications.

The above financial results were approved by the Board of Directors (the “Board”) of the Company at its
meeting held on May 27, 2023. The meeting of the Board commenced at 3:00 p.m. and concluded at
8:45 p.m.

Thanking you.

Yours faithfully,
For Reliance Home Finance Limited
PARUL
Digitally signed by PARUL JAIN
DN: c=IN, o=Personal,
2.5.4.20=7a2e6e80d5b9f7634e43a6a96280348c0c
8192d326ed2a11b0180937cca244e2,
postalCode=400101, st=Maharashtra,

JAIN
serialNumber=f092beb629f876d713c73be3885c4
251a2ac65ada08f00411fdbf7aaeb0bd118,
cn=PARUL JAIN
Date: 2023.05.27 20:46:06 +05'30'

Parul Jain
Company Secretary & Compliance Officer

Encl.: As Above.
 T/:1MBI Lf:zJAJPllRIC1R
CHARTERED ACCOUN'I'AN'T'S
410, Atlanta Estate, Opp Westin Hotel,
Goregaon (East), Numbai-400063
Ph No: 9833585810
E-Mail- [email protected]

Independent Auditor's Report on the Quarterly and year to date Audited Financial Results of Reliance Home
Finance Limited Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

To
The Board of Directors
Reliance Home Finance Limited

1. We have audited the accompanying statement containing the quarterly and year to date Audited Ind AS
financial results of Reliance Home Finance Limited ("the Company") for the year ended March 31, 2023 (the
"Statement") being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation') as amended, read
with SEBI Circular No. CIR/CFD/CMDl/80/2019 dated July 19, 2019 ('the Circular').

2. In our opinion and to the best of our information and according to the explanations given to us except for the
possible effects of the matter described in the Basis for Qualified Opinion section of our report the aforesaid
Ind AS financial statements are presented in accordance with the requirements of Regulation 33 and 52 of
the regulation in this regard and give a true and fair view in conformity with the applicable Indian Accounting
Standards and accounting principles generally accepted in India, of the state of affairs of the Company as at
March 31, 2023, its profit including other comprehensive income, its cash flows and other financial
information for the year ended on that date.

Basis for Qualified Opinion:

Material Uncertainty Related to Going Concern

We draw attention to Note No. 3, wherein the Company has entered into Business Transfer Agreement
(BTA) and Lenders' Implementation Memorandum both dated March 29, 2023 (the Agreements) for
implementation of resolution plan as approved by the creditors, to transfer the undertaking i.e. transfer of
business with certain material assets and liabilities agreed and mentioned in said agreement on Slump Sale
Basis. Post execution of the above Agreements, the business undertaking of the Company has been
transferred to Reliance Commercial Finance Limited {RCFL), 100% subsidiary of Authum Investment &
Infrastructure Limited (the "Resolution Applicant"). Consequently, the Company has substantially reduced
and further discontinued its housing finance activity post the execution of Lenders' Implementation
Memorandum. The above may result in loss / surrender of Housing Finance License. Further, there are

Pu11e : /06, Parmesh Plaza, /2 I3 SodashivPe1h, Ha11iGanpatiChowk, Pu11e-.///030.

Was/Jim: Clo S. M. Kasal, Raviwar Ba::ar, PamiChowk, Washim-444505.
Amravati: Opposite Manibhai Gujrati High School, Ambapeth, Amravati-44460/
Raipur: Shop No. 16117, Jain Hind Hosiery Market, Near Railway Crossing, Pandhari, Raipur-49200/.
Chhindwara: Parasia Road, Near Mehta Colony, Chhindwara (M.P.)-48000/.
 certain legal cases in Courts of law against the Company, the liability of which, materialise if any, can't be
ascertained as on balance sheet date.

In view of above significance of events or conditions and the business transfer, the ceased operations of
the Company and current cash flow position indicates that a material uncertainty exists to meet those
substantial probable financial liabilities /exposure and material uncertainty exists that may cast significant
doubt on the Company's ability to continue as a going concern.
3. Emphasis of Matter

1) We draw attention to Note No.3 to the financial statements with regards to the implementation of
Resolution Plan wherein, as informed by the management, the entire Resolution Plan has been finalised in
terms of the RBI Circular No. RBl/2018-19/ 203, DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019
on Prudential Framework for Resolution of Stressed Assets, pursuant to the approval by the Lenders of the
Company, as approved by the Hon'ble Supreme Court of India vide its order dated March 3, 2023 and the
special resolution passed by the shareholders dated March 25, 2023. The financial statements have been
prepared considering after implementation of Resolution Plan and transfer of undertaking to Reliance
Commercial Finance limited, 100% subsidiary of Authum Investment & Infrastructure limited (Resolution
Applicant). Post implementation of the Resolution Plan, the financial statements of the Company represent
the assets and liabilities remaining with the Company. The Company in consultation with the Lead Bank,
Debenture Trustee, Legal and Financial Advisors, took the appropriate steps towards implementing the
approved Resolution Plan as mentioned in detail in the said note. The total Resolution amount was of Rs.
3,351 Crores and the Company has incurred Net loss amounting to Rs. 277.24 Crores on implementation
of resolution plan.

Our opinion is not modified in respect of this matter.

2) SEBI had issued an Interim Order cum Show Cause Notice dated February 11, 2022 under Sections 11(1),
11(4) and 118{1) of the SEBI Act, 1992 ("Notice") against the Company, its individual promoter and the
then Key Managerial Personnel ("Noticees") and has restrained the Noticees from buying, selling, or
dealing in securities, either directly or indirectly, in any manner whatsoever until further notice. Further,
Individual Noticees have been restrained from associating themselves with any intermediary registered
with SEBI, any listed public company or from acting as a director / promoter of any public company which
intends to raise money from the public, till further notice. The Management is of the view that the notice
is an Interim Order and no financial implication can be ascertained at this stage. As informed by the
management, the Company is in the final stages of preparing response to the notice in consultation with
the legal advisors, taking into consideration the transfer of Company's business undertaking to Reliance
Commercial Finance limited, a wholly owned subsidiary of Authum Investment & Infrastructure Limited
(Resolution Applicant), pursuant to RBI Circular No. RBl/2018-19/ 203, DBR.No.BP.BC.45/21.04.048/2018-
19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets, the order of Supreme
Court of India dated March 3, 2023 and the special resolution passed by the shareholders dated March 25,
2023.

Our opinion is not modified in respect of this matter.

Responsibilities of Management and Board of Directors'for the Ind AS Annual Financial Results

These annual financial results have been prepared on the basis of the annual financial statements. The Company's
Management and the Board of Directors are responsible for the preparation and presentation of these Ind AS
financial statements that give a true and fair view of the net profit and other comprehensive income and other
financial information of the Company in accordance with the accounting principles generally accepted in India,
including the Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015, as amended. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding of 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 Ind AS financial
statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Ind AS financial statements, the Board of Directors is responsible for assessing the Company's
ability to continue as a 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 to cease
operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement of the Statement, whether due 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 one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, 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(3) (i) of the Act, we are also responsible for expressing our
opinion on whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that
may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the
financial results 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
the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether
the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and 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 with relevant ethical
requirements regarding 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.

Other Matters

Attention is drawn to Note 2 of the statement regarding the figures for the quarter ended March 31,2023 and the
corresponding quarter ended in the previous year as reported in these financial results are the derived figures
between audited figures in respect of the full financial year and the published year to date figures up to the end of
the third quarter of the current and previous financial years respectively. Also, the figures up to the end of the third
quarter of the respective financial years had only been reviewed and not subject to an audit.

Our conclusion is not modified in respect of this matter

For Tambi & Jaipurkar

Chartered Accountants
Firm's Registration Number: 115954W

rtner
Membership Number: 160944

Place: Mumbai
Date; 27 May, 2023

UDIN: 23160944BGYYWX9099
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STATEMENT OF AUDITED ASSETS ANO LIABILITIES AS AT MARCH 31, 2023

(Rs. in crore)
Particulars As at As at
March 31, 2023 March 31, 2022
ASSETS
1. Financial Assets
(a) Cash and cash equivalents 17.54 2,628.38
(b) Bank balance other than (a) above . 332.59
(c) Recei vables
(I) Trade receivables . .
(II) Other receivables - -
(d) loans - 3,108.31
(e) Investments - 160.78
(f) Other financial assets - 199.40
Total Financial Assets 17.54 6,429.46

Non-financial Assets
(a) Current tax assets {net) 17.31 41.54
(b) Deferred tax assets (net) - 3,595.21
(c) Investment property . 4.22
(d) Property, plant and equipment - 42.29
(e) Intangible assets under development - 0.07
(f) Other intangible assets - 1.19
(g) Other non-financial assets - 30.35
Total Non-financial assets 17.31 3,714.87
TOTAL ASSETS 34.85 10,144.33

LIABILITIES AND EQUITY

I. LIABILITIES
1. Financial liabilities
(a) Derivative financial Instruments 0.04
(b) Payables
(I) Trade payables
(i) total outstanding dues of micro enterprises and small enterprises
(ii) total outstanding dues of cred itors other than micro enterprises and small
enterprises
(II) Other payables
(i) total outstanding dues of micro enterprises and small enterprises
(ii) total outstanding dues of creditors other than micro enterprises and small
0.84
enterprises
(c) Debt securities 0.95 6,019.30
(d) Borrowings (Other than debt securities) 5,897.81
(e) Subordinated liabilities 86.04 797.35
(f) Other financial liabilities 19.45 2,886.49
Total Financial Liabilities 106.44 15,601.83
2. Non-financial liabilities
ia) Other non-financial liabilities 2.25 34.90
Total Non- flnanclal liabilities 2.25 34.90
II. EQUITY
(a) Equity share capital 485.06 485.06
(b) Other equity (558.89) (5,977.46)
Total Equity {73.83) (5,492.40)

TOTAL LIABILITIES AND EQUITY 34.85 10,144.33

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11" Floor, North-West Wing, Plot No. 29, Senapati ,Mu
T +91 22 6838 8100 IF +91 22 6838 8360, E-mail: [email protected], Website: www.r
Customer Service: T +91 22 4741 6400 / E -mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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STATEMENT OF AUDITED FINANOAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2023

{Rs in crore except per share data)

Sr. Particulars Quarter Ended Year Ended
No. Mar-23 Dec-22 Mar-22 Mar-23 Mar-22
Unaudited Unaudited Unaudited Audited Audited
Revenuefrom operations
(i) Interest income 74.59 139.59 13.30 376.93 276.79
(ii) Fees and commission Income 0.91 0.98 2.01 5.04 8.00
(iii) Other operating income 0.00 0.20 0.57 0.20 5.89
(I) Total Revenue from operations 75.50 140.77 15.88 382.17 290.68
(II) Other Income 3.10 . 0.47 9.20 2.82
(Ill) Total Income (I+ II) 78.60 140.77 16.35 391.37 293.50
Expenses
(i) Finance costs (759.27) 266.63 311.04 31.32 1,185.09
(ii) Employee benefits expenses 1.74 4.10 0.15 13.70 16.65
(iii) Impairment on financial instruments (9,112.67) 21.25 6,058.99 (9,051.53) 6,705.93
(iv) Depreciation, amortisation and impairment 0.48 0.48 210.49 1.96 212.09
(v) Other expenses 51.31 11.71 8.63 104.89 80.14
(IV} Total Expenses {9,818.41} 304.17 6,589.30 {8,899.65) 8,199.90
(V) Profit / (Loss) before exceptional Items & tax (Ill - IV) 9,897.01 (163.40) {6,572.95) 9,291.02 (7,906.40)
(VI) EY·epti::nal Items (277.24) - - (277.24) .
(VII) Profit/ (Loss) before tax (V -VI) 9,619.77 {163.40) {6,572.95) 9,013.79 (7,906.40)
(VIII) Tax expenses
- Current tax . . . . .

- Deferred tax 3,647.46 85.83 (2,050.76) 3,595.21 (2,466.80)

(IX) Net Profit after tax (VU - VIII) 5,972.31 (249.23) (4,522.19) 5,418.57 (5,439.60)
(X) Other comprehensive income
A. Items that will not be reclassified to profit or loss
• Remeasurements of post-employment benefit obligations (0.13) (0.01) (0.07) . 0.22
- Income tax relating to these items 0.04 . 0.02 . (0.07)
Other comprehensive income (A) (0.09) (0.01) (0.05) . 0.15
(XI) Total comprehensive income (IX + X) 5,972.22 (249.24] (4,522.24) 5,418.57 (5,439.45)
(XII} Paid-up equity share capital (Fave value of Rs. 10/- per share) 485.06 485.06 485.06 485.06 485.06
(XIII) Other equity (558.89) (5,977.46)
(XIV) Earnings per equity share (not annualised for Interim period)
(a) Basic (Rs.) • 123.14 (5.14) (93.24) 111.72 (112.15)
(b) Diluted (Rs.) • 123.14 (5.14) (93.24) 111.72 (112.15)
• Based on weighted average no. of shares

Refiance Home Finance Umited

Registered & corporate Office: The Ruby, 11" Floor. North-West Wing, Plot No. 29, Senopoti Bopat Marg, Dadar (West!, Mumbai 400 028
T +91 22 6838 8100 I F +91 22 6838 8360, E-mail: rhfl [email protected]. Website: www.reliancehomefinance.com
Customer Service: T +91 22 4741 6400 / E-mail: [email protected]

CiN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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STATEMENT OF CASH FLOWS FORTl1E YEAR ENDED MARCH 31, 2023

(Rs. In crore)
Particulars Year Ended
March 31, 2023 March 31, 2022
(Audited) (Audited)
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit/(Loss) before tax: 9,013.79 (7,906.40)
Adjustments:
Depreciation, amortisation and Impairment 1.96 212.09
Impairment of financial instruments (9,058.52) 6,707.87
Liabilities written back 1,251.57 .
Discount on commercial papers 43.73
Amortised brokerage commission -term loan 2.63 1.07
Provision for gratuity (0.07)
Provision on other expenses 7.02
Interest on preference shares capital 2.48 2.48
Interest income adjustment as per Ind AS (0.01) (0.39)
Pass through certificate borrowings -expenses 3.03 125.78
Interest on investments (0.84) (6.57)
Finance costs 23.18 1,012.02
Profit on sale of Investments (net) (6.04) (1.58)
Interest on income tax refund (2.83) (0.89)
loss on closure of sccuritisation accounts . 0.04
Loss on sale of property, plant and equipment 2.22 (0.11)
Interest income on fixed deposits (147.47) (81.57)
Operatingprofit before working capital changes 1,085.16 114.S3
Adjustments for (increase)/ decrease In operating assets:
Fi xed deposits with banks 2,517.70 (1,767.12)
Loans 336.76 973.10
Other financial assets 139.67 90.37
Other non financial assets 3.41 32.99
Trade payables 2.28 0.02
Other financial liabilities (46.52) 48.74
Other non financial liabilities 6.03 (100.06)
Cash generated from operations 4,044.49 (607.44)
Income taxes paid (net of refunds) (58.53) (10.04)
Net cash inflow / (outflow) from operating activities 4,103.02 (597.39)
B. CASH FLOW FROM INVESTING ACTIVITIES :
Sales proceeds from disposal of property,plant and equipment 42.40 0.12
Purchase of investments (0.50) (30.61)
Sale of investments 61.54 879.25
Purchase of property, plant and equipment (0.23) (0.45)
Net cash inflow / (outflow) from investing activities 103.21 848.30
C. CASH FLOW FROM FINANQNG ACTIVITIES :
Amount received on account of Business Traster Agreement 180.00
Asset/ Liabilities transfer under Business Transfer Agreement (net) (1,154.34)
Market Linked Debenture Hedge position (16.56)
Proceeds from borrowings otherthan debt securities 84.56 �\I-AR �
*�
Repayment from borrowings other than debt securities (3,057.71) 9 .
.

l t
Fair valuation changes in Market Linked Debenture
(341.
3 ��
��� -"- ,�
Finance costs
Discount on commercial papers
Net cash Inflow / (outflow) from financing activities
(3.03)

(4,035.08)
(l�� � 1 �
(366.tJl '.$'
�
)
1 (5
NET INCREASE/(DECREASE) IN CASH AND BANK BALANCES 171.15 (115.�i--
��
Add : cash and cash equivalents at beginning of the year 54.39 110.38
�HAR���
I Less : cash and cash equivalents transfer under Business Transfer Agreement 208.02
Cash and cash equivalents at end of the year 17.54 54.39
Notes:
1. The previous year figures have been regrouped and reclassified wherever required.
-.?:-0
2. Cash and cash equivalents include only cash and bank balance
!J'
z
,d.
Reliance Home Finance Umited ">
Registered & Corporate Office: The Ruby, 11• Floor, North-West Wing, Plot No. 29, Senopati Bapa1 Marg, Dadar (WestL M ..,,..,-,...c:....�"'
T +91 22 6838 8100 / F +91 22 6838 8360, E-mail: [email protected], Website: www.relioncehomefi nonce.com
Customer Service: T +91 22 4741 6400 / E-moil: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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Notes:

1. The financial results have been prepared in accordance with the recognition and measurement
principles laid down in Indian Accounting Standards (Ind AS) notified under Section 133 of the
Companies Act, 2013 (the "Act") read with the Companies (Indian Accounting Standards) Rules,
2015, as amended, from time to time, and other accounting principles generally accepted in India.
Any guidance / clarifications / directions issued by NHB or other regulators are adopted /
implemented as and when issued / applicable.

2. Figures for quarter ended March 3 1 , 2023 are the balancing figures between the audited figures
in respect of the full financial year ended March 31, 2023 and the published year to date figures
up to the third quarter of the current financial year. The previous year / period figures have been
regrouped / rearranged wherever necessary to confirm to current quarter and twelve months
ended presentation.

3. Due to sudden adverse developments in the financial services sector post the IL&FS crisis and its
adverse impact on the liquidity position of majority of the Non-banking and housing finance
companies, the Company was adversely impacted resulting in liquidity mismatch and severe
financial stress on account of which it was not in a position to services its dues to the lenders.

Certain lenders of the Company (Banks and other Financial Institutions) had entered into an Inter­
Creditor Agreement (ICA) on July 6, 2019 with Bank of Baroda acting as the Lead Lender for
arriving at the debt resolution plan in accordance with the circular dated June 7, 2019 issued by
the Reserve Bank of India (RBI) on Prudential Framework for Resolution of Stressed Assets (RBI
Circular), by way of Change in Management. The Lead Bank and the lenders forming part of ICA
had appointed resolution advisors, cashflow monitoring agency, valuers and legal counsel. Bank
of Baroda as the Lead Lender and on behalf of the ICA l enders had as part of the debt resolution
process invited the Expression of Interest (Eol) and bids from interested bidders vide newspaper
advertisement dated July 29, 2020 and through the Lead Bank's website. Initially nineteen
investors had expressed interest through submission of EOl's. The ICA lenders after completing
the transparent process of inviting bids from eligible bidders and evaluation, voted upon and
selected with overwhelming majority Authum Investment & Infrastructure Limited (Authum) as the
final bidder on June 19, 2021. The said Resolution Plan of Authum along with the Distribution
Mechanism was presented to the Company by the Lead Banker, asking the Company to seek
approval of the Debenture holders. The Company had duly made requisite disclosure to the stock
exchanges in this regard.

The Company shared the said Resolution Plan along with the Distribution Mechanism with the
Debenture Trustees. A meeting of the Debenture Holders of Reliance Home Finance Limited was
called by IDBI Trusteeship Services Ltd. (Debenture Trustee) and was held on May 1 3 , 2022, for
consideration and approval of the Resolution Plan along with the Distribution Mechanism approved
by ICA Lenders on June 19, 2021. Further, pursuant to the Order dated May 10, 2022 passed by
the Hon'ble High Court of Judicature at Bombay, the results of th eeting was
��.;::::::.:,:,:: .....-::::=�...
submitted before the Hon'ble High Court in a sealed envelope. ..

Reliance Home Finance Limited

Registered & Corporate Office: I he Ruby, ,,.. Floor, North-West Wing, Plot No. 29, s
i
T +91 22 6838 8100 / F +91 22 6838 8360, E-ma l: [email protected], W
Customer Service: T +91 22 4741 6400 / E-mail: customercore@relioncehomefinonc

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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The Company had approached the Hon'ble High Court of Judicature at Bombay praying that the
Hon'ble High Court exercise powers under Section 1 5 1 of the Civil Procedure Code, 1908, to
approve the resolution plan of RHFL as was done by the Supreme Court in exercise of Article 142
of the Constitution of India in case of Reliance Commercial Finance Limited in Rajkumar Nagpal
(supra). However, the said application was not allowed and disposed off on December 1 6 , 2022
by the Hon'ble High Court stating that "The moulding of relief can only be done by the Supreme
Court under Article 142 of the Constitution of India. This Court under Section 1 5 1 of the CPC does
not have the powers akin to Article 142 of the Constitution of India".

On an appeal preferred by the Company and others, the Hon'ble Supreme Court of India vide its
Order dated March 3, 2023, in exercise of its powers under Article 142 of the Constitution of India,
allowed the Resolution Plan of Authum qua the debenture holders, except the dissenting
debenture holders.

Further, the Shareholders of the Company at extraordinary general meeting held on

March 25, 2023 by passing a special resolution approved sale / disposal of asset(s) /
undertaking(s) of the Company for the purposes of implementation of the said Resolution Plan and
authorised the Board for the said purpose.

The Resolution Applicant vide its e-mail dated March 8, 2023 had informed that in terms of the
Hon'ble Supreme Court of India Order dated March 3, 2023, the Resolution Plan was to be
implemented by March 3 1 , 2023 and requested the Company to extend its co-operation for
implementation of Resolution Plan and, inter-alia, fix a record date for payment along with
extinguishment of RHFL debentures, not later than March 27, 2023.

The Company had fixed March 26, 2023 as the record date and intimated to the stock exchanges
that the Debenture Holders will be paid as per the respective entitlement of the debenture holders
as on the date of Resolution Plan in terms thereof, in full and final settlement of their dues and
claims, towards extinguishment and redemption of the debentures of the Company held by them.

As per the final approved Resolution Plan, the total Resolution amount ofthe Company was arrived
at Rs.3,351 crore.

The entire Resolution Plan has been finalised in terms of RBI Circular No. RBl/2018-19/ 203,
DBR No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for
Resolution of Stressed Assets by the Lenders of the Company, has also been approved by the
Hon'ble Supreme Court of India by its order dated March 3, 2023 and the special resolution
approved by the shareholders dated March 25, 2023. In view of the same the Company
appropriate steps towards implementation of the Resolution Plan in compliance with the
Hon'ble Supreme Court of India.

The Company in consultation with the Lead Bank, Debenture Trustee, Legal and Fi
Advisors, the Company took the following steps towards implementing the approved Re
Plan:

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11" Floor, North-Wes! Wing, Pio! No. 29, senapati Bapat Marg, Dadar (Wes
T +91 22 6838 8100 / F +91 22 6838 8360, E-mail: [email protected], Website: www.reliancehomefinance.
Customer Service: T +91 22 4741 6400 I E -mail: customercare@reliancehomefinance . com

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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ReLIANCe FINANCE

A. Repaid dues to ICA Lenders as per Final Distribution Mechanism approved by Lenders.
B. Distributed funds to Debenture Trustees for making payments to NCO Holders as per Final
Distribution Mechanism approved by Lenders.
C. Executed Business Transfer Agreement (BTA) with Reliance Commercial Finance Limited,
100% subsidiary of Authum Investment & Infrastructure Limited.
D. Executed Resolution Plan Implementation Memorandum with the Lenders, Other ICA Members
and Reliance Commercial Finance Limited, 1 00% subsidiary of Authum Investment &
Infrastructure Limited.
E. Executed Resolution Plan Implementati on Memorandum with IDBI Trusteeship Services
Limited and Reliance Commercial Finance Limited, 1 00% subsidiary of Authum Investment &
Infrastructure Limited.

As per the Resolution Plan and the Distribution Mechanism duly approved and finalised by the Banks,
Financial Institutions and other Lenders in terms of the RBI Circular and informed to the Company, the
beneficiary position of NCO holders (BENPOS) as of April 1 5 , 2022 had been taken to ascertain the
entitlement of 100% of their principal dues under the Resolution Plan to the small debenture holders in
the category of individuals and HUFs holding debentures of the principal amount of up to Rs.5 lakhs,
as of that said BENPOS date. All other Debenture Holders including Banks and Financial Institutions
were paid 27.71% for secured and 20.78% for unsecured, as per the Resolution Plan.

Accordingly, in terms of the RBI Circular and in pursuance of the order of the Hon'ble Supreme Court
of India dated March 3, 2023, the total Resolution amount of Rs. 3,351 crore has duly been paid to all
the financial creditors including debenture holders as per their respective approved entitlements under
the Resolution Plan in full and final settlement of their dues and the Resolution Plan stood duly
implemented.

The fi nancial statements have been prepared considering after implementation of Resolution Plan and
transfer of undertaking to Reliance Commercial Finance Limited, 1 00% subsidiary of Authum
Investment & Infrastructure Limited (Resolution Applicant). Post implementation of the Resolution Plan,
the fi nancial statements of the Company represent the assets and liabilities remaining with the
Company.

4. Post execution of Business Transfer Agreement (BTA) with Reliance Commercial Finance Limited
(RCFL), 100% subsidiary of Authum Investment & Infrastructure Limited dated March 29, 2023,
business undertaking of the Company has been transferred to RCFL. The Company continues to
hold the HFC license registered with the National Housing Bank. Further, all activities are conducte
within India and as such there is no separate reportab l e segment, as per the Ind AS 1 0 8 - "Oper
Segments" specified under Section 133 of the Act.

5. Prior to execution of Business Transfer Agreement, the Listed Secured Redeemable

Convertible Debentures of the Company were secured by way of first pari-passu legal mort
and charge on the Company's immovable property and additional pari-passu charge by w
hypothecation on present and future book debts / receivables, outstanding money ( l oan b
receivable claims of the Company with other secured lenders, except those book debts a

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11 .. Floor, North-West Wing, Plot No. 29, Senapa11 Bapat Marg, LJadar (Wes11.
i
T +91 22 6838 8100 I F +91 22 6838 8360, E-ma l: rhfl. [email protected], Website: www.reliancehomefinance.com
Customer Service: T +91 22 4741 6400 / E -mail: [email protected]

CIN: L671 90MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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receivables charged / to be charged in favour of National Housing Bank for refinance availed / to
be availed from them.

Subsequent to transfer of business undertaking, the Listed Secured Redeemable Non-Convertible

Debentures of the Company aggregating to Rs.0.95 crore as on March31 , 2023 are secured by
way of a lien marked fixed deposit amounting to Rs.1.60 crore in favour of IDBI Trusteeship
Ser,1ices Limited (Debenture Trustees) placed by Reliance Commercial Finance Limited, a wholly­
owned subsidiary of Authum Investment & Infrastructure Limited (Resolution Applicant).The asset
cover is above hundred percent of outstanding debentures.

6. Disclosures pursuant to RBI Notification No. RBI / DOR / 2021 - 22 I 86 DOR . STR . REC . 51 /
21 .04.048/2021-22 dated September 24, 2021

A Details of stressed loans (NPA) transferred during the year ended March 3 1 , 2023:
(Rs. in crore)
i
Part culars To Other Party
(Reliance Commercial
Finance Limited)
No. of Accounts 3,716
Aggregate principal outstanding of loans transferred 8,704.76
Weighted average residual tenor of the loans transferred 152
Net book value of loans transferred (at the time of transfer) 1 19.83
Aggregate consideration (Refer Note 1 )
Additional consideration realized i n respect of accounts transferred in
earlier years -

B. Details of stressed loans (SMA) transferred during the year ended March 3 1 , 2023:
(Rs. in crore)
Particulars To Other Party
(Reliance Commercial
Finance Limited)
No. of Accounts 1 ,732
Aggregate principal outstanding of loans transferred 221.15
Weighted average residual tenor of the loans transferred 146
Net book value of loans transferred (at the time of transfer) 21 3.55
Aggregate consideration (Refer Note 1)
Additional consideration realized in respect of accounts transferred in
earlier years -

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11 Floor, North-West Wing, Plot No. 29, Senapali Bapa1 Marg, Dadar IWes1I. Mumbai 400 028
.,

T +91 22 6838 8100 / F +91 22 6838 8360, E-mail: rhfl. [email protected], Website: www.reliancehomelinance.com
Customer Service: T +91 22 4741 6400 / E-mail: [email protected]

CIN: L671 90MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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ReLI.ANce FI NANCE

C. Details of transfer of loan which are not in default transferred during the year ended March 3 1 , 2023:
(Rs. in crore)
Particulars To Other Party
(Reliance Commercial
Finance Limited)
Entity NBFC
No. of Accounts 12,227
Aggregate principal outstanding of loans transferred 1 , 1 14.94
Weighted average residual tenor of the loans transferred 151
Net book value of loans transferred (at the time of transfer) 1 , 120.13
Aggregate consideration (Refer Note 1)
Additional consideration realized in respect of accounts transferred in -
earlier years

Note 1
All identified assets and liabilities have been transferred from Reliance Home Finance Limited to Reliance
Con1mercial Finance Limited, 100% subsidiary of Authum Investment & Infrastructure Limited (the
"Resolution Applicant"), as part of Business Transfer Agreement, for total consideration of Rs.180 crore.

Note 2
The above disclosure includes Minimum Retention Ratio (MRR) portion of Securitised transaction and
Pass through certificate loan as per Ind AS requirement.

7. Disclosure(s) under Regulations 23(9), 52 and 54 of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 read with circular no.
SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 1 9 , 2022 issued by SEBI, are
enclosed as Annexure A, Annexure B and Annexure C, respectively.

8. In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016, the Company hereby
declares that the auditors have issued audit report with modified opinion on annual audited financial
results for the year ended March 31, 2023. Statement on Impact of Audit Qualifications is enclosed .

9. Previous period figures have been regrouped / rearranged wherever necessary.

10. The above results were reviewed by the Audit Committee. The Board of Directors at its meeting
held on May 27, 2023 approved the above results and its release.

For R c ance Limited

� :�

sL�al
Director

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11" Floor, North-Wes! Wing, P1ol No. 29, Senapall Bapal Marg, Oadar (West), Mumbai 400 028
T +91 22 6838 8100 / F +91 22 6838 8360, E - mail: [email protected], Website: www.relioncehomelinance.com
Customer Service: T +91 22 4741 6400 / E-mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted
along-with Annual Audited Financial Results

Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2023
(See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016)
Audited Figures Adjusted Figures
i. SI. (Rs. in crore) (Rs. in crore)
No. Particulars (as reported before (audited figures after
adjusting for adjusting for
qualifications) qualifications)
1. Turnover/ Total income 391.37 391.37
2. Total Expenditure (8,899.65) (8,899.65)
3. Net Profit/(Loss) 5,418.57 5,418.57
4. Earnings Per Share 111.72 111.72
5. Total Assets 34.85 34.85
6. Total Liabilities 108.68 108.68
7. Net Worth (73.83) (73.83)
Any other f inancial Nil Nil
8. item(s) (as felt
appropriate by the
management)

ii. Audit Qualification (each audit qualification separately):

a. Details of Audit Qualification:
We draw attention to Note No. 3, wherein the Company has entered into Business
Transfer Agreement (STA) and Lenders' Implementation Memorandum both dated
March 29, 2023 (the Agreements) for implementation of resolution plan as approved
by the creditors, to transfer the undertaking i.e. transfer of business with certain
material assets and liabilities agreed and mentioned in said agreement on Slump
Sale Basis. Post execution of the above Agreements, the business undertaking of
the Company has been transferred to Reliance Commercial Finance Limited
(RCFL), 100% subsidiary of Authum Investment & Infrastructure Limited (the
"Resolution Applicant"). Consequently, the Company has substantially reduced and
further discontinued its housing finance activity post the execution of Lenders'
Implementation Memorandum. The above may result in loss/ surrender of Housing
Finance License.

Further, there are certain legal cases in Courts of law against the Company, the
liability of which, materialize if any, can't be ascertained as on balance sheet date.

In view of above significance of events or conditions and the business transfer, the
ceased operations of the Company and current cash flow position indicates that a
material uncertainty exists to meet those substantial probable financial liabilities
/exposure and material uncertainty exists that may cast significant doubt on the
Company's ability to continue as a going concern.

Reliance Home Finance Limited

Registered & Corporate Office: The Ruby, 11" Floor, North-West Wing, Plot No. 29, Senapali Bopal Mory, Dudur IWesl), Mumbai 400 028
T +91 22 6838 8100 / F +91 22 6838 8360, E-mail: [email protected], Website: www. relioncehomefinonce.com
Customer Service: T +91 22 4741 6400 / E-mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

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b. Type of Audit Qualification Qualified Opinion

c. Frequency of qualification: Whether appeared first time/ First time

repetitive/ since how long continuing

d. Audit Qualification(s) where the impact is quantified by the auditor,

I Management's Views - Not quantified

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

(i) Management's estimation on the impact of audit Not estimated

qualification:
(ii) If management is unable to estimate the impact, reasons for the same
The Company was under debt resolution in terms of RBI Circular No. RBl/2018-19/
203, DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential
Framework for Resolution of Stressed Assets. The Resolution Plan as approved by
creditors and shareholders of the Company as also by the Hon'b le Supreme Court
of India vide its order dated March 3, 2023, was implemented by transfer of the entire
undertaking by way of slump sale to Reliance Commercial Finance Limited, a wholly
owned subsidiary of Authum Investment & Infrastructure Limited (the "Resolution
Applicant"). This would result in substantial reduction or discontinuation of the
housing finance activities. Further, Reliance Capital Limited (RCL), the Promoter of
the Company is under Corporate Insolvency Resolution Process (CIRP).
Accordingly, the future course of business of the Company would be ascertainable
upon successful resolution of RCL under CIRP.

(iii) Auditors comments on (i) or (ii) above

We draw attention to Note No. 3, wherein the Company has entered into Business
Transfer Agreement (BTA) and Lenders' Implementation Memorandum both dated
March 29, 2023 (the Agreements) for implementation of resolution plan as approved
by the creditors, to transfer the undertaking i.e. transfer of business with certain
material assets and liabilities agreed and mentioned in said agreement on Slump
Sale Basis. Post execution of the above Agreements, the business undertaking of
the Company has been transferred to Reliance Commercial Finance Limited (RCFL), l/,%, e, F/N_
100% subsidiary of Authum Investment & Infrastructure Limited (the "Resolution 1,� � 0 '.-f�
�
Applicant"). Consequently, the Company has substantially reduced and further
discontinued its housing finance activity post the execution of Lenders'
Implementation Memorandum. The above may result in loss/ surrender of Housing
�
� �
1•��
' �
f )

� O
��
Finance License.

Further, there are certain legal cases in Courts of law against the Company, the
liability of which, materialize if any, can't be ascertained as on balance sheet date.

In view of above significance of events or conditions and the business transfer, the ���
<fl
*
ceased operations of the Company and current cash flow position indicates that a -,�
'ff-
_ , �
material uncertainty exists to meet those substantial probable financial liabilitie� , j (,..�"t' !
/exposure and material uncertainty exists that may cast significant doubt on the �1 �
�
'R
Company's ability to continue as a going concern.
\ <)�* �._-...-_ �
����
Ref10nce Home Finance Umited
Registered & Corporate Office: The Ruby, 11· Floor, North-West wing, Plot No. 'L9, 5enapati Bapat Marg, Dadar (Wesll, Mumbai 400 028
T +91 22 6838 8100 IF +91 22 6838 8360, E m
- ail: [email protected], Website: www.relioncehomefinonce.com
Customer Service: T +91 224741 6400 / E-mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

 - ---
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iii Signatories:

�a,
Chief Financial Officer

Audit Committee Meeting Chairman

Statutory Auditor
For Tambi & Jaipurkar
Chartered A ccountants
Firm's Registration Number: 1159

·�

arima Agarwal

Membership Number: 160944

Place: Mumbai
Date: May 27, 2023

Reliance Home Financ:e Limited

Registered & Corporate Offic:e: The Ruby, 11" Floor, North-West Wing, Plot No. 29, Senapati Bapot Marg, Dadar (West!, Mumbai 400 028
T +91 22 6838 8100 / F +91 22 6838 8360, E-mail: [email protected], WebsHe: www.reliancehomefinance.cam
Customer Service: T +9122 4741 6400 / E-mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIAt-lCE CAPITAL COMPANY

 HOME
ReUANCe FINANCE

AnnexureA
(Rs. i n crore)
Additional disclosure of rel ated party transactions -applicable only in case the related party
transaction rel ates to loans, Inter-corporate deposits. advances or l nvestme,ts made or given by
the !isled entity/subsidiary, These detail s need to be disclosed onl y once. duing the reporti ng
period when such transaction was undertaken
Sr Detail> of the party (listed entrty Detai ls of the counterparty Type of rel ated Value of the Val ue of In case monies are due to In case any financi al Detai ls of the roans, i nter.corporate deposi ts, advances or
No /subsijiary) entering ,nto the party transacti on rel ated party transaction either party as a result of the indebtedness is incurred to make I nvestments
transaction transaction as during the transacti on or give loans ln1er.corpora1e
approved by reponi ng period deposits advances or
the audi t inves1men1s
commrttee 1 -10-2022
Name PAN Name PAN Rel ationship of 31-3-2023 Openi ng Clos, ng Nature of Cost Tenure Nature (l oan/ Interest Tenure Secured/ Purpose for
the counterparty balance bal ance indobledne advance/ Rate unseo.,red which the funds
with the li sted ss (loan/ inter- (%) will be util i sed by
entity or its issuance or corporate the ultima1e
subsidi ary debV any deposi V reop,ent offunds
other etc. ) investment (end-usage)

1 Relian:::e Reliance Capital Limited Maj or lnveslilg Management 2.2 0. 56 .

Home Finance Pariy fees expense
Liml teo (accrued) and
payment of
rei mbursement
� Reliance General Other relatec Payment of 5 0.51
Insurance Company pariy i nsurance
Limited premi um
� Reliance Ni ppon Li fe
Insurance Company
Other rel atec
party
Payment of
gratui ty
5 0.49
Limtted
,_
4 Rel iance Securi tjes Other rel atec Rent expense 5 0.02

7
Limited party
Mr, PrasMnt UtreJa· Key Manage�al Empl oyee Benefit Nol AppIleable 1.26
Personnel (KMPt- Expense
Chief Executve
�
i
Mr. Amit Kumar Jha KMP- Chief Employee Benefit Not Appl cabl e 0.44 .
Fl nanoal Offi:er Expense
?°" Ms. Parul Jai n KMP • Company Employee Benefil Not Appl icabl e 0.28
Secretary & Expense
Compl iance
Officer
s" Ms. Chhaya Virani Key Managenal SI iti ng fees pai d Nol Appl,cable 0,06
Personnel . to di rectors
Independent
Director flDl
� Ms, Rashna Khan Key Managerial
Personnel • ID
Si lting fees paid NOi Appli cable 0.06
to directors
-io Mr Sushilkumar Agrawal Key Managerial Silting fees paid Not Appl icabl e 0. 06
Personnel • ID 10 directors
,_
11 Mr. AshokR Key Managertal Sitting fees pai d Not Appl ieabl e 0. 04
Personnel - ID to di rectors
� Mr. Ashish Turakh1a Key Managerial Sitting fees pai d Not Appl icable 0.05
Personnel • Non- 10 di rectors
Executive
Di rector
,_
13 Mr. Sudeep Ghoshal Key Managenal Sining fees pai d NOi Appli cable 0.04
Personnel • to di rectors

J-
----- -
.,,,�nl( A ,_�
':l
,,,
Nominee Director

�
i( �
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Annexure B

Disclosure pursuant to Regulation 52(4) of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 for the quarter and year ended
March 3 1 , 2023

Sr. No. Particulars Quarter ended Year ended

March 31, 2023 March 31, 2023
1 Debt - Equity Ratio (1.35) (1.3 5)
2 Debt Service Coverage Ratio Not Applicable Not Applicable
3 Interest Service Coverage Ratio Not Applicable Not Applicable
4 Outstanding redeemable preference shares 31 04 31 .04
(Rs. in Crore)
(3, 10,35,980 shares of face value of Rs. 1 0 each)
5 Debenture Redemption Ratio * Not Applicable Not Applicable
6 Net Worth (Rs. in Crore) (73.83) (73.83)
7 Net Profit After Tax 5,972.30 5,418.56

..
8 Earnings Per Share 123.14 1 1 1 .72
9 Current Ratio Not Applicable Not Applicable
10 Long term debt to working capital Not Applicable Not Applicable
11 Bad debts to Account receivable ratio Not Applicable Not Applicable
12 Current liability ratio Not Applicable Not Applicable
13 Total debts t o total assets 2.85 2.85
14 Debtors turnover Not Applicable Not Applicable
15 Inventory turnover Not Applicable Not Applicable
16 Operating margin (%) Not Applicable Not Applicable
17 Net profit margin (%) 7,598.15% 1 ,384.50%
18 Sector specific equivalent ratios, as applicable
Gross NPA Ratio 0.00% 0.00%
Net NPA Ratio 0.00% 0.00%
19 Capital to risk weighted assets Ratio (4,584.24%) (4,584.24%)

*
The Company being a housing finance company registered with the National Housing Bank,
is not required to transfer to ORR in respect of debentures in terms of Rule 1 8(7) of the
Companies (Share Capital and Debentures) Rules, 2014.

,,,,,
� ...
..._,
. ............._____

Reliance Home Finance Umited

Registered & Corporate Office: The Ruby, 11" Floor, North-West Wing, Plot No. 29, Senapati Bapat Marg, Dadar (Westl, Mumbai 400 028
T +91 22 6838 8100 I F +91 22 6838 8360, E-mail: rhfl [email protected], Website: www.reliancehomefinance.com
Customer Service: T +91 22 4741 6400 / E-mail: [email protected]

CIN: L67190MH2008PLC183216 A RELIANCE CAPITAL COMPANY

 IAMBI & JAIPURKAR
CHARTERED ACCOUNTANTS
410, Atlanta Estate, Opp Westin Hotel,
Goregaon (East), Mumbai-400063
Ph No: 9833585810
E-Mail- [email protected]. in

Independent Auditor's Report on Asset Cover and Compliance with all Covenants as at March 31, 2023 under Regulation54
of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as
amended) for submission to SEBI in compliance with circular SEBI/HO/MIRSD/MIRSD_CRADTCI R/P/2022/67 dated 1 91b
May,2022

To,

The Board ofDirectors

Reliance Home Finance Limited The Ruby, 1 1 th Floor,
North-West wing.
Plot No- 29, Senapati Bapat marg,,
Dadar (West).
Mumbai - 400028.

I. We Tambi & Jaipurkar, Chartered Accountants, are the Statutory Auditors of the Company and have been requested by the
Company to examine the accompanying Statement showing 'Asset Cover as per the terms of the Debenture Trust Deed and
Compliance with Covenants' for listed non-convertible debt securities as at March 31, 2023 (hereinatter the "Statement") which
has been prepared by the Company as prescribed by Securities and Exchange Board of India (SEBI) circular dated May 19,2022
SEBl/HO/MIRSD/MIRSD CRADTCIR/P/2022/67 from the Unaudited financial results and other relevant records and
documents maintained by the Company as at and for the Financial year ended March 31, 2023 pursuant to the requirements ofthe
Regulation S4 ofthe Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
201S, as amended. read with the SEBI Circular dated May 19,2022 (hereinafter the "SEBl
Regulations'·).

Management's Responsibility

2. The preparation or the Statement is the responsibility of the Management of the Company including the preparation and
maintenance or all accounting and other relevant supporting records and documents. This responsibility includes the design,
implementation and maintenance of internal control relevant to the preparation and presentation ofthe Statement and applying an
appropriate basis of preparation; and making estimates that are reasonable in the circumstances.
3. Thi.:: Management or the Company is also responsible for ensuring that the Company complies with all the relevant requirements
of the SEBI Regulations and tor providingall relevant information to the Debenture Trustee and for complying with all the
covenants as prescribed in the Debenture Trust Deeds entered into between the Company and the Debenture Trustee ('Trust
Deeds')/Information Memorandum.

Auditor's Responsibility

4. It is our responsibility is to provide limited assurance as to whether:

a) the Company has maintained asset cover as per the terms ofthe Information memorandum/Trust Deeds; and
b) the Company is in compliance with all the covenants as mentioned in the Trust Deeds as on March 3 1 , 2023.

5. We have performed review of the financial results ofthe Company for the Financial year ended March 3 I, 2023,prepared by
the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations. 2015, as amended, issued an unmodified opinion dated February 2, 2023.

Pu11e : 106, Parmesh Plaza, 1213 SadashivPeth, HauiGanpatiChowk, Pune - 4//03/.

Wnsl1i111 : Clo S. M. Kasal, Raviwar Bazar, PatniChowk, Washim 444505.
Amravnti : Opposi1e Manibhai Gujrati High School, Ambapeth. Amravati -44460/
Rnipur : Shop No. /6/17, Jain Hind Hosiery Market, Near Railway Crossing, Pandhari, Raipur-49200/.
Chhi11dwara · Parasia Road, NearMehta Colony, Chhindwara (MP.) - 480001.
 TAMBI & JAIPURKAR
CHARTERED ACCOUNTANTS
410, Atlanta Estate, Opp Westin Hotel,
Goregaon (East), Mumbai-400063
Ph No: 9833585810
E-Mail- gar1ma. [email protected]. 1n

6. We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special
Purposes issued by the !CAI. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics
issued by the ICAI.

7. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) I, Quality Control for
Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services
Engagements.

8. Our scope of work did not involve us performing audit tests for the purposes of expressing an opinion on the fairness or accuracy
of any of the financial information or the financial results of the Company taken as a whole. We have not performed an audit, the
objective of which would be the expression of an opinion on the financial results, specified elements, accounts or items thereof,
for the purpose of this report. Accordingly, we do not express such opinion.

9. A limited assurnm;e engagement includes performing procedures to obtain sufficient appropriate evidence on the applicable
criteria, mentioned in paragraph 5 above. The procedures performed vary in nature and timing from, and are less extent than for, a
reasonable assurance. Consequently, the level of assurance obtained is substantially lower than the assurance that would have
been obtained had a reasonable assurance engagement been performed. Accordingly, we have performed the following procedures
in relation to the Statement:

a) Obtained and read the Trust Deeds/Information Memorandum and noted the asset security cover required to be
maintained by the Company.
b) Traced and agreed the principal amount of the listed non-convertible debt securities outstanding as on March 31,
2023 to the unaudited financial results and books of account maintained by the Company as on March 31, 2023.
c) Obtained and read the list of asset cover in respect of listed non-convertible debt securities outstanding as per the
Statement. Traced the value of assets from the Statement to the unaudited financial results and books of accounts
maintained by the Company as on March 31, 2023.
d) Obtained the list of security created in the register of charges maintained by the Company and 'Form No. CHG-
9' filed with Ministry of Corporate Affairs ('MCA'). Traced the value of charge created against Assets to the
Asset Cover in the attached Statements.
e) Obtained the list and value of assets placed under lien or encumbrance for the purpose of obtaining any other
loan and determined that such assets are not included in the calculation of Asset Cover in respect oflisted non­
convertible debt security.
f) Examined and verified the arithmetical accuracy of the computation of Asset Cover, in the accompanying
Statement.
g) Compared the Asset Cover with the Asset Cover required to be maintained as per Trust Deeds/ Information
:Vlemorandum.
h) With respect to compliance with covenants (including financial, affirmative, informative and negative covenants)
included in the attached Statement, we have performed following procedures:
(i) We have verified the compliance of debt covenants as per the Trust Deeds/I nformation Memorandum till
date of this certificate. With respect to the covenants for the Financial year ended March 3 1 , 2023 for
which due date is after the date of this certificate, management has represented to us that the same shall
be duly complied with within the due date; and

i) Per(ormed n�cess?ry inquiries with the management regarding any instances of non- compliance of covenants
durmg the Fmanc1al year ended March 31, 2023.

Pune : 106, Parmesh Plaza, 1213 SadashivPeth, HattiGanpatiChowk, Pune - 411031.

Wasl1im : Clo S. M. Kasal. Raviwar Bazar, PatniChowk. Washim-111505.
Amra11ati : Opposite Manibhai Gujrati High School, Ambapeth, Amravati-444601
Raipur : Shop No. 16117, Jain Hind Hosiery Market, Near Railway Crossing. Pandhari, Raipur-492001.
Clthindwarn : Parasia Road, Near Mehta Colony, Chhindwara (M.P.) - 48000I.
 TAMBI & JAIPURKAR
CHARTERED ACCOUNTANTS
410, Atlanta Estate, Opp Westin Hotel,
Goregaon (East), Mumbai-400063
Ph No: 9833585810
E-Mail- [email protected]. in

j) With respect to covenants other than those mentioned in paragraph 9 above, the management has represented and
confirmed that the Company has complied with all the other covenants including affirmative, informative, and
negative covenants, as prescribed in the Trust Deeds/Information memorandum, as at March 31, 2023. We
have relied on the same and not performed any independent procedure in this regard.

k) Performed necessary inquiries with the Management and obtained necessary representations.

Conclusion

Based on the procedures performed by us, as referred to in paragraph 9 above and according to the information and explanations
provided and management representations obtained, we certify that the Company has maintained asset/security cover as per the
terms of the Trust deeds/ Information memorandum and all the other covenants of the Trust De-ecl/lnforrnation Memorandum
relating to asset/security cover have not been complied with.

Restriction on the

The Report has been issued at the request of the Company, solely in connection with the purpose mentioned in paragraph 2 above
and to be submitted with the accompanying Statement to the Debenture Trustee and is not to be used or referred to for any other
person. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to
whom this report is shown or into whose hands it may come. We have no responsibility to update this certificate for events and
circumstances occurring after the date of this report.

For Tambi & .Jai;".1rkar Chartered Accountants

ICAI Firm Registration Number: 1 1 5954W

CA G- ima Agraw al
Partner
Membership Number: 160944
UDIN: 23160944BGYYWY4147
Place of Signature: Mumbai
Date:

Pune : 106, Parmesh Plaza, 1213 SadashivPeth, HauiGanpatiChowk, Pune -4/ 1031.
Washim : Clo S. 1v/. Kasal, Raviwar Bazar, PatniChowk, Washim-444505.
Amravati : Opposite Manibhai Gujrati High School, Ambapeth, Amravati-444601
Raipur : Shop No. 1611 7, Jain Hind Hosiery Market, Near Railway Crossing, Pandhari, Raipur-492001.
Chhindwara : Parasia Road, Near Mehta Colony, Chhindwara (M. P.)- 480001.
 iW@§@!i HOME
FINAt-lCF

Anncxure C
Reliance Home Finance Limited
The Ruby, 11th Fl oor", Notth•Wcst Wing, Plot No. 29, Senapati Bapat Marg, Oadar (West), Mu11bai 400 028

Statement of Security Cover and Statement of Compliance Status of Financial Covenants in respect of Non-Converti ble debenture$ of the Company as at March 31, 2023

··-· .. -· ___
Bs� In Crores
..,
Col umn A Col umn B Col umn C Colum 0 Column E Column F Column G Column H Column I Column J Column K Column L Column M I Col umn N Column 0 Column P
Particul ars Doscrl ptlo Exclusive Excluslvo Parl-Passu Pori-Passu Porl-Passu Assets not Debt not Eliminati on (Total C to Rol otod to only thoso ltoms covered by thi s certifocato
n of asset Charge Charge Charge Charge Charge offered as backed by any (amount in H)
for which Security as.sets offered negative)
this a.s security
certificate
relate Oobtfor Othor Dobt for Anets shared Other assets dobt amount Market Value Carryi ng Market Carrying value/ Total
which this Secured which this by parl passu on wh[ch there considered for Assets /book value Value for book value for Value(=L'M
certificate Debt certificate debt holder is pari. Passu more than charged on for exclusi ve Pari passu pari passu + N+o)
being Issued being (Includes debt charge onco (duo to Exclusive charge assets charge charge assets
issued for which this (excluding exclusive pl us basis where market Assetsom1 where market
certificate Is items covered part passu value is not value Is not
issued & other In Column F) charge) ascertainable ascertalnable or
debt with pari• or applicable applicable
pa11u cha.-ge) (For Eg.
Bank Balance, (For Eg. Bank
DSRA market Balanco, DSRA
value is not market value is
applicable) not appli cable)

Book Value Book Value Yes/ No Book Voluo Book Value Relatln• to Co•umn F
ASSETS
Pr>perly, Pl ant and
ECJui oment IRefer Note 4l
Capital Work- in• Progress

Right of Use Assets

Goodwill
ln\ang1 ble Assets

l niangi blo Assets under

Devel opment
Investments
Loans
Inventori es
Trade Receivables
Cash and Cash
Ecuivalonts
B1:nk Bal ances other than 160 1.60 1.60 1 .60
Cash and Cash
Ec:,ulvalents
Others
Total . on 1,60 1 60 1,60

IABI IITl''C::

� ���- �
..,__
:�J .. ....._ .�
 Particulars Oescriptio Exclusive Exclusive Pari .Passu Pari-Passu Pari-Passu Assets not Debt not Elimination (Total C to Related to only those items covered by this certificate
n of assot Chorge Charge Charge Charge Charge offered as backed by any (amount in HJ
rorwhich Security assets offered negative)
this as socurl ty
certificate
rolato Debt for Other Debt for Assets shared Other assets debt �mount Market Value Carrying Market Carrying vafue/ Total
which this Socurod which this bypari passu on which there considered for Assets /book value Valuo for book value for V11,luo(•L+M
certi ficate Debt certificate debt hol der is pari· ?assu more than charged on for exclusi ve Pad passu par/ passu +N+o)
being issued being (incl udes debt charge once {due to Excl usive charge assets chargo charge 3$$01S
issued forwhlch this (oxcluding ex.cluslve plus basis whoro market Asscts ""11 where mari<et
certificate is items covered pari passu value is not value is not
lssuod & other In Column FJ chargo) ascertainable ascertalnabl e or
debt with pari- or appllcabl e applicable
passu charge) (For Eg.
Bank Balance, (For Eg. Bank
OSRAmarket Balance, DSRA
valuo Is not market value is
appllcable) not applicable)

c........., Value Book Value Yes/No Rook Value Book Vah.1e Rclatinc to Column F
Debt securities to which 0.95 0,95
thi s certificate pertains

Other debl sharing pari-

passu charge wilh above
debt
0ll19rDebl
Subo!dinated debt (Refer No 86. 04 86.04
Nol• 2/
Borowinas not to be
Ba<k filled
Debt Securities
Oth,rs
Trade payables
Lease Llabifities
Prolisions
Ofh9rs ( inclusive of 19. 45 19.45
inte-est arruced!
Total 0.95 105.49 106.44
Covor on Book Value 1. 68

Co1,;'0r on Market Value 1.68

Exclusive Pari ,Passu
Security Cover
...... ...
Security
,..._ _ _ _ ; Ratio

Noto
1 The financial statements have been prepared considering after implementation of Resolution Plan and transfer of business undertaki ng to Rel iance Commercial Finance Limited, 100% subsidiary of Authum I nvestment & Infrastructure Limited (Resolution
Appl icanQ Post implementation or lhe Resol uti on Plan, the fi nancial sta1emen1s or the Company represenl the assets and habihhes remai ning with the Company (Please refer note no.3 of Notes 10 Resul ts)
2 Fersuent to transfer of business undertaking, the Listed Secured Redeemable Non-Converti�e Debentures of the Company aggregating to Rs. 0.95 crore as on March 31, 2023 are secured by way of a li en marked fixed deposil amounting lo Rs.1.60 crore rl
favour of 1081 Trusteeship Servi ces Limited (Debenture Trustees) placed by Reliance Commercial Finance Uml ted. a wholly-owned subsldi 81)1 of Autl1um Investment & I nfrastructure Limited (Resolution Appl ican� The assel cover Is above hundred percent or
out�tanding debentures.

3 Apart from securi ty mentioned 1n point no 2, Company has also mai ntai ned Rs. 0.41 crore In Bank accoun1 as per the distribution entidement basi s the approved Resolutlon Plan.
4. Sub ordinate debts are dassified as debt not backed bv anv assets offered as securitvas per circul ar.
5 The Fi nancial information as on March 31, 2023 has been extracted from audited books of account f0<tho vear ended March 31, 2023 and other relevant records and documents or the Companv
· '
S The Comp tho financial covonants as PEN' reQuirments.
S (Indi an Accounlinca Standards).

JI

. tRrn