(ix) Provisions and contingent liabilities
Provisions: Provisions are recognized when the Company has a present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate of the amount of the obligation can be made. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the
Balance sheet date and are not discounted to its present value.
Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence
of one or more uncertain future events not wholly within the obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable
estimate of the amount cannot be made.
(x) Cash and cash equivalents
Cash and cash equivalents includes cash in hand, demand deposits with banks with original maturities of three months or less.
(ii) Rights, preferences and restrictions attached to shares:
Equity Shares
The Company has one class of equity shares with a par value of Rs. 10 per share, following a consolidation from Rs. 1 per share effective September 19, 2023. Each shareholder is
entitled to one vote per equity share held. Dividends, if declared by the Board of Directors, are subject to the approval of shareholders at the ensuing Annual General Meeting, except
in the case of interim dividends which are approved by the Board. In the event of liquidation, equity shareholders are entitled to receive the residual assets of the Company, after
settlement of all preferential claims, in proportion to their shareholding.
Preference Shares
As of March 31, 2025, the Company does not have any outstanding preference share capital. During the year ended March 31, 2023, the Company had issued 0.0001% Optionally
Convertible Preference Shares (OCPS) of Rs. 10 each. These shares carried a dividend rate of 0.0001% and had limited voting rights as per the provisions of the Companies Act,
2013—applicable only in matters where preference shareholders are entitled to vote. All such preference shares have since been fully converted and/or redeemed.
In the event of liquidation, equity shareholders are entitled to receive the residual assets of the Company after the settlement of all preferential claims, in proportion to their
shareholding.
24 Dues to Micro and Small Enterprises, if any, have been determined to the extent such parties have been identified on the basis of information collected
by the Management.
25 Balances of Sundry Debtors and Sundry Creditors are subject to confirmation from respective parties and consequential reconciliation/adjustments
arising there-from, if any. The management however does not expect any material variation
26 Disclosure for retirement benefits
Defined contribution plans
The Company’s employee provident fund scheme is a defined contribution plan. A sum of
Rs. 7.24 lakhs (previous year Rs. 4.55 lakhs) has been recognized and shown under Employee benefits
Defined benefit plans - Gratuity
Gratuity is payable to all eligible employees of the Company on superannuation, death or permanent disablement, in terms of the provisions of the
Payment of Gratuity Act, 1972.
28 Title deeds of immovable Property not held in name of the Company
The Company does not own any immovable property as on the reporting date. The operations are conducted from rented premises. Accordingly, this clause is not applicable.
The total rent expense debited to the Statement of Profit and Loss during the year is ? 77,46,392.46
29
Where the Company has revalued its Property, Plant and Equipment, the company shall disclose as to whether the revaluation is based on the valuation by a
registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017
The Company has not revalued any of its Property, Plant and Equipment during the year. Accordingly, disclosure relating to valuation by a registered valuer as defined
under Rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable.
30 Where Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,)
either severally or jointly with any other person, that are:
(a) repayable on demand or
(b) without specifying any terms or period of repayment
The Company has not granted any loans or advances in the nature of loans to promoters, directors, key managerial personnel (KMPs), or related parties as defined under the
Companies Act, 2013, either severally or jointly with any other person. Accordingly, the required disclosures under this clause are not applicable.
31 Capital Work In Progress (CWIP)
As on the reporting date, the Company has Intangible Assets under Development (CWIP) amounting to ^6,84,60,397.93, primarily relating to software development.
Accordingly, the requirement to disclose the ageing schedule and expected completion schedule of CWIP is applicable and has been provided in the relevant notes.
32 Intangible assets under development:
The Company incurs expenditure on Community Building, Blog Consultancy, Tech Consultancy, and Content Creation & Course Development. In accordance with the
Company’s accounting policy, such expenditures are capitalized as intangible assets.
These intangible assets are amortized over a period of five years from the date on which the expenditure is incurred or the asset is ready for use, whichever is later.
As on the reporting date, the Company has recognized such expenditures as intangible assets, and they are being amortized in accordance with the stated policy.
33 Details of Benami Property held
The Company does not hold any Benami property, nor has any proceedings been initiated or are pending against the Company under the Benami Transactions (Prohibition)
Act, 1988 and rules made thereunder.
34 Where the Company has borrowings from banks or financial institutions on the basis of current assets
(a) whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of
accounts.
(b) if not, summary of reconciliation and reasons of material discrepancies, if any to be adequately disclosed
The Company has not taken any borrowings from banks or financial institutions on the basis of security of current assets during the year. Accordingly, the requirement to
file quarterly returns/statements of current assets and related disclosures are not applicable.
35 Wilful Defaulter
The Company has not been declared a wilful defaulter by any bank, financial institution, or any other lender during the financial year.
36 Relationship with Struck off Companies
The Company does not have any transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
37 Registration of charges or satisfaction with Registrar of Companies
The Company has no charges or satisfaction pending registration with the Registrar of Companies beyond the statutory period.
38 Compliance with number of layers of companies
The Company has complied with the limits on the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction
on Number of Layers) Rules, 2017. There are no companies beyond the specified layers requiring disclosure.
39 Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any Scheme of Arrangements approved by the Competent Authority under sections 230 to 237 of the Companies Act, 2013 during the
relevant period.
40 Utilisation of Borrowed funds and share premium:
Borrowed Funds:
The Company confirms that the funds borrowed during the period have been utilized for the purposes for which the borrowings were obtained, and no funds have been
diverted for any other purposes.
Share Premium:
The share premium collected by the Company has been utilized in accordance with the provisions of the Companies Act, 2013 and related regulations. There has been no
diversion or non-compliance in the utilization of the share premium account.
The company has received gross proceeds from fresh issue of equity shares amounting to Rs. 5791.80 Lakhs The utilization of the net proceeds is summarized as below:-
41 Disclosure regarding undisclosed income
The Company has not recorded any transaction in the books of accounts during the years ended 31 March 2025, 31 March 2024, and 31 March 2023 that has been
surrendered or disclosed as income during the income tax assessments under the Income Tax Act, 1961.
Accordingly, no previously unrecorded income has been brought into the books during the year.
42 Disclosure regarding details of crypto currency or virtual currency:
The Company has not traded or invested in cryptocurrency or virtual currency during the financial year. Accordingly, no disclosures related to holding, trading, or
transactions in cryptocurrency or virtual currency are required to be made in the financial statements.
43
The company has not provided nor taken any loan or advance to/from any other person or entity or invested any funds or provided any guarantee or security with the
understanding that benefit of the transaction will go to a third party, the ultimate beneficiary.
44
In the opinion of the Board of Directors, the current assets, loans, and advances have a value on realisation in the ordinary course of business at least equal to the amount at
which they are stated in the Balance Sheet, except to the extent of provisions made for doubtful debts, which have been appropriately disclosed in the financial statements.
45
No employee is in receipt of remuneration exceeding in aggregate of Rs. 1,02,00,000/- if employed throughout the year or Rs. 8,50,000/- per month if employed for a part of
the year.
46
Sitting fees for attending Board Meetings have been duly accounted for and paid/payable to the Directors as per the provisions of the Companies Act, 2013 and the terms
approved by the Board of Directors.
47 There are no indications of impairment on any individual cash generating assets or on cash generating units in the opinion of management and therefore no test of
impairment is carried out.
48 All the known income and expenditure and assets and liabilities have been taken into account and that all the expenditure debited to the profit and loss account have been
exclusively incurred for the purpose of the company’s business.
49 Balance in the accounts of debtors, creditors and advances are subject to confirmation/ reconciliation/adjustment from the respective parties.
50 The loans and advances made by company are unsecured and treated as current assets and not prejudicial to the interest of the company.
51 Previous's Year Figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.
52 There were no instances during the year where any amounts were advanced to the Company by the Directors out of funds borrowed or acquired from others. Hence, no such
declarations were required to be obtained.
54 Segment Reporting
In accordance with the guiding principles of AS-17 “Segment Reporting”, the business segment is identified as the primary segment and the geographic segment as the secondary segment.
However, since none of the segments meet the threshold of 10% or more of revenue, results, or assets as prescribed under AS-17, detailed segment information has not been disclosed.
55 Contingent Liabilities and Commitments
The Company is involved in an ongoing legal dispute with a former employee/shareholder involving financial claims and counterclaims, including contractual disputes, and
refund claims. The Company has claimed INR 227.59 Lakhs towards deductions and interest, while the indivdual has raised a contractual claim of INR171.03 Lakhs as
payable to him. Certain claims, including damages and alleged data theft, against the said person, are pending quantification. The matter is sub judice and no provision has
been made as of the reporting date. The financial impact, if any, will be accounted for upon final adjudication or further clarity.
In addition, as of the reporting date, the Company is defending 10 consumer complaints pending before various District Consumer Dispute Redressal Forums in cities such
as Jodhpur, Agra, Panchkula, Delhi, Chandigarh, Nanded, Jind, Guntur, and Bangalore. These matters primarily relate to service delivery and course-related concerns, and
the Company believes it has valid defenses in each case. The Company is also involved in 7 civil and criminal matters pending before courts including those at Alipur
(Kolkata), Saket (Delhi), and the South District Court, along with criminal complaints under the Negotiable Instruments Act pertaining to cheque dishonour. Certain matters
involve injunctions granted in favour of the Company, while others relate to enforcement actions initiated for breach of agreement and recovery of dues. Furthermore, one
case is pending before the Permanent Lok Adalat, Udaipur (Case No. 75/2023: Dayaram Mali vs. Dataisgood).
Based on internal assessments and legal opinions obtained, the management is of the view that no material liability is likely to arise from these ongoing proceedings.
Accordingly, no provision has been made in the books of account as on March 31, 2025. The Company continues to monitor the progress of these matters and will revise its
estimates and accounting treatment as necessary based on future developments.
56 Corporate Social Responsibility (CSR)
As per the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company was required to
spend ^8.99 lakhs during the financial year 2024-25 towards Corporate Social Responsibility (CSR) activities.
During the year, the Company spent ^16.97 lakhs towards CSR activities by providing educational classes and training programs for differently abled students, in alignment with its
CSR policy objectives focusing on education and skill development.
The excess amount of v7.98 lakhs spent during the current year shall be available for set-off against future CSR obligations, in accordance with Rule 7(3) of the Companies (CSR
Policy) Rules, 2014.
Note 1 to 57 forms an integral part of the accounts and has been duly authenticated.
For KRA & Co. For and on behalf of the Board of Directors of
Chartered Accountants Addictive Learning Technology Limited
FRN: 020266N
Gunjan Arora Abhyudaya Agarwal Ramanuj Mukherjee
Partner Whole Time Director Managing Director
Membership No. 529042 DIN: 05016416 DIN: 05017261
Place: Delhi
UDIN :25529042BMIANH4016
Place: Delhi
Siddhant Singh Baid Komal Palak Shah
CFO Company Secretary
PAN: AICPB2918A PAN: ACCPP5343H
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