NOTE 18: SIGNIFICANT ACCOUNTING POLICIES
i. CORPORATE INFORMATION
Triveni Enterprises Limited having its registered office in Office no. 7,(8,9) Mamata Anand
Sankul, Nashik pune road, Nashik - 422101. The Company operates in the business of
Trading of various products & distributorship of telecommunication products.
ii. BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention and comply with
applicable accounting standards issued by the Institute of Chartered Accountants of India
and relevant provision of the Companies Act, 2013.
iii. REVENUE RECOGNITION:
(i) Income on Sale of Products are recognized, net of returns and trade discount, on
transfer of significant risks and rewards of ownership to the buyer, which generally
coincides with the delivery of goods to customers.
(ii) Interest income is recognized on accrual basis.
iv. INVESTMENTS
Non Current Investments are shown in the Balance Sheet at cost. However in
appropriate case the cost is written down and the investment is shown at book value.
Current investment is shown at cost or market price whichever is higher.
v. TAXES ON INCOME:
Provision for tax is made on the basis of the estimated taxable income as per the
provisions of the Income Tax Act, 1961 and the relevant Finance Act, after taking into
consideration judicial pronouncements and opinions of the Company's tax advisors.
Deferred tax is recognized, subject to the consideration of prudence, on timing
differences, being the difference between taxable incomes and accounting income that
originate in one period and are capable of reversal in one or more subsequent periods.
vi. CASH AND CASH EQUIVALENT
Cash and cash equivalents for the purpose of cash flow statement comprise cash at
bank and in hand, cheques on hand and short-term investments with an original
maturity of three months or less.
vii. EARNING PER SHARE
Basic earnings per share is computed by dividing the profit/ (loss) after tax (including
the post-tax effect of extraordinary items, if any) by the weighted average number of
equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit/ (loss) after tax
(including the post-tax effect of extraordinary items, if any) as adjusted for dividend,
interest and other charges to expense or income relating to the dilutive potential equity
shares, by the weighted average number of equity shares considered for deriving basic
earnings per share and the weighted average number of shares which could have been
issued on the conversion of all dilutive potential equity shares.
NOTE 19: RELATED PARTY DISCLOSURE
Related Party Disclosure under AS-18 issued by the Institute of Chartered Accounts of
India. The Management has informed that all the transactions entered during the
previous year with various parties do not fall within the purview of the Accounting
standard 18 "Related Party Transaction" issued by the Institute of Chartered
Accountants of India. The related parties of the company at March 31, 2024 are as
follows'
NOTE 20:
Figures have been rounded off to the nearest rupee.
NOTE 21:
The balances of Current assets, Current liabilities including Sundry Debtors, Sundry
Creditors, Loans & advances, Secured & Unsecured Loan are subject to confirmation, if
any.
NOTE 22:
Previous year's figures have been regrouped & rearranged wherever necessary.
For Jain Anil & Associates For & on behalf of the Board of Directors of
Chartered Accountants Triveni Enterprises Limited
Firm Reg. No: 115987W
Sd/- Sd/- Sd/-
Anil Jain Arvind Gupta RamchandraVarma
Proprietor Director Director/CFO
Mem. No. 039803 (DIN:-02912070) (DIN:- 06877684)
Place: Mumbai Sd/-
Dated: 30th May 2024 Nikita Chamaria
UDIN:- 24039803BKCLRX2831 (Company Secretary)
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