| CONTINGENT LIABILITIES AND PROVISIONSProvisions involving a substantial degree of estimation inmeasurement are recognised when there is present obligation
 as a result of past events and it is probable there will be an
 outflow of resources. Provisions are determined based on
 management estimates required to settle the obligation at the
 balance sheet date. These are reviewed at each balance sheet
 date and adjusted to reflect the current management estimate.
 Contingent liabilities are not recognised but are disclosed in the
 financial statements. Contingent assets are neither recognised
 nor disclosed in the financial statements.
 ^Security DetailsHDFC Bank Ltd: Pilot boat
 Primarily secured by the hypothecation of some Pilot Boats/Fire Tender Equipment, together with the accompanying Deed ofCovenants.
 Escrow of receivables for the boat from resepective ports. Defaults - NIL HDFC Bank Ltd: Term Loan Primarily secured by the hypothecation of Vessel purchase, together with the accoumpanying Deed of CovenantsEscrow of receivables - Propotionate portion to be routed through HDFC BANK.
 Personal Guarantee from DirectorsDefaults - NIL
 ICICI Bank: Term Loan Primarily secured by exclusive charge on movable fixed asset (Emerald vessel and patrol boat) and receivables of existingvessel (Celestial Vessel) and movable fixed asset (Emerald vessel and patrol boat).
 Collaterally secured by the house belongs to directorsPersonal Guarantee from Directors
 Defaults - NIL
 27 STATEMENT OF EMPLOYEE BENEFIT EXPENSE - GRATUITYGratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method.This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit
 separately to build up the final obligation.
 Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarialassumption of the interest rate.
 Current Service Cost: is the discounted present value of the benefits from the Plan's benefit formula attributable to theservices rendered by employees during the accounting period.
 Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions. Itcould also occur due to changes made in the actuarial assumptions.
 29 Additional Regulatory Information:(i)    There are no Immovable properties whose title deeds are not held in the name of the Company. (ii)    The Company has not revalued its Property, Plant and Equipment during the reporting years. (iii)    Loans and Advances granted to Promoters, Directors, KMP and Related Parties: There are no Loans and Advances in the nature of loans that are granted to promoters, directors, KMP's and the relatedparties either severally or jointly with any other person, that are repayable on demand.
 (iv)    There are no proceedings initiated or pending against the Parent for holding any benami property under the BenamiTransactions (Prohibition) Act, 1988 (45 of 1988).
 (v)    The company has borrowing from the banks on the basis of security of current assets, and the quarterly returns orstatements of current assets filed by the Company with the banks are in agreement with the books of accounts.
 (vi)    The company is not declared as wilful defaulter by any bank or financial institution or other lender. (vii)    The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act,2013.
 (viii)    There are no charges or satisfactions yet to be registered with the Registrar of Companies beyond the statutory period. (ix)    The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with theCompanies (Restriction on number of Layers) Rules, 2017.
 (x)    The Company has neither traded nor invested in Crypto currency or Virtual Currency during the financial year. (xi)    No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of theCompanies Act, 2013.
 (xii)    Utilisation of Borrowed funds and share premium: A.    The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any othersources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
 understanding (whether recorded in writing or otherwise) that the Intermediary shall
 (i)    directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or onbehalf of the company (Ultimate Beneficiaries) or
 (ii)    provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. B.    The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)with the understanding (whether recorded in writing or otherwise) that the company shall
 (i)    directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or onbehalf of the Funding Party (Ultimate Beneficiaries) or
 (ii)    provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. 30 Previous year's figures have been regrouped wherever necessary to conform to the current year's classification.As per our report of even date attached    For and on behalf of the Board of Directors of ABS MARINE SERVICES LIMITEDFor N.C. Rajagopal & CO    P B Narayanan    Jeevan KrishnanChartered Accountants    Managing Director    Director FRN:003398S    DIN:00205686    DIN:07983977 Arjun S    V V Ananthanarayanan    Ganesh SaikrisshnaPartner    Chief Financial Officer    Company Secretary Membership No: 230448    Membership Number: A72209 Place    : Chennai Date    : May 26, 2025  
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