i. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources. Contingent Liabilities are disclosed when the company has possible
obligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets are
neither recognized nor disclosed in the financial statements.
j. INVESTMENTS
The Company has elected to recognize changes in Investments at Fair Value through Other Comprehensive Income (FVTOCI) as
per IND AS 113 read with IND AS 109 and IND AS 32.
The profit and loss arrived at on fair valuation has been accounted for Other Comprehensive Income.
For the purpose of Fair Value, the Quoted Equity Shares have been taken at the prevailing Market Price of the Stock Exchange at the
closing hours as on 31 st March 2020.
For the purposes of Fair Value of Unquoted Equity Shares, the fair value has been computed as per the Audited Financials of 31st March
2020 as the financials for the year ended 31st March 2021 were not available.
k. EMPLOYEE BENEFITS
i. Gratuity:
The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company
is eligible for such benefits during the year.
ii. Provident Fund:
The provisions of the Employees Provident Fund are not applicable to the company since the number of employees
employed during the year were less than the minimum prescribed for the benefits.
iii. Leave Salary:
In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law
governing the establishment.
l. IMPAIRMENT OF ASSETS
The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable
amount. An asset’s recoverable amount is the higher of an assets or cash-generating unit’s (CGU) fair value less costs of
disposal or its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other assets or group of assets. When the carrying amount of an
asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable
amount. Impairment losses, are recognized in the statement of profit and loss. Intangible assets with indefinite useful lives
are tested for impairment annually, as appropriate and when circumstances indicate that the carrying value may be
impaired.
m. BORROWING COST
Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. All
other borrowing costs are charged off to revenue.
A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.
n. DEFERRED REVENUE EXPENDITURE
Miscellaneous Expenditure are written off uniformly over a period of 5 years.
o. INCOME TAX
Current income tax
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the
reporting date. Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss
(either in other comprehensive income or in equity). Management periodically evaluates positions taken in the tax returns
with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where
appropriate. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognized
amounts, and it is intended to realize the asset and settle the liability on a net basis or simultaneously.
Deferred tax
Deferred tax is provided on temporary differences between the tax bases of assets and liabilities and their carrying amounts
for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary
differences. Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax
losses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset
to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it
has become probable that
future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the
tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and
tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognized
outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity).
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against
current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
Nature and purpose of reserve
Retained Earnings
Retained earnings represents cumulative profits of the company and effects of remeasurement of defined benefit obligations.
This reserve can be utilized in accordance with the provisions of Companies Act, 2013.
General Reserve
General reserve is reserve created out of profits of the company for the purpose.
Other Comprehensive Income
The Company has elected to recognize changes in the fair value of certain investments in equity securities in other
comprehensive income. This is accumulated balance on account of fair value of investments. The company transfers amount
from this reserve to retained earnings when the relevant equity securities are derecognized.
Note ’31’ :
The previous year's figures have been regrouped, rearranged and reclassified wherever required to conform to
current year's classification.
In terms of our report of even date attached
For R P Khandelwal & Associates For and on behalf of the Board of Directors
Chartered Accountants
FRN : 001795C Sd/- Sd/-
Ratan Singh Ashutosh Bajoria
Managing Director Director
Sd/- DIN : 06818520 DIN:01399944
Chhavi Bengani
Partner
Membership No : 414142
UDIN: 25414142BMIUSJ8042 Sd/- Sd/-
Place : JAIPUR Gaurav Somani Madhuri Dhanopia
Date : 30TH MAY 2025 CFO Company Secaratry
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