Note 6.1 : There are no unbilled and not due trade receivables, hence the same has not been disclosed in ageing schedule

Note 6.2 : Out of above debtors, we have filed a claim under Section 8 of the Insolvency and Bankruptcy Code, 2016, to recover dues of Rs. 2,46,15,112 from Vivaan Multi-Structures Ltd. This claim has been admitted by the National Company Law Tribunal (NCLT) as per order no. C.P. (IB) 349/ MB/ 2023 dated February 13, 2024. The recovery of this amount is contingent upon the submission of a resolution plan by the eligible resolution applicants. As of the date of finalization of books, no resolution plans have been submitted.

(a) The company has only one class of shares referred to as equity shares having a par value of INR 2 each (INR 10 each for previous year) . Each holder of equity shares is entitled to one vote per share and dividend in Indian rupees, if proposed by the Board of Directors, which is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(b) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held at the time of commencement of winding-up.

(c) The Shareholders have all other rights as available to equity shareholders as per the provisions of the Companies Act, 2013, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

Note 13.1 : General Reserve is created from time to time by way of transfer from profits that is retained in the organisation. Moreover,General Reserve is created by transfer of one component of equity to another and is not an item of Other Comprehensive Income.

Note 14.1 : Secured Loan from bank consists of the following -

a) Vehicle loan from Bank amounting to Rs. 15,00,000. The loan carries an interest rate of 9.15% per annum and repayable in 60 equal installment. The vehicle loan is secured by the vehicle purchased.

b. Machinery loan from Bank amounting to Rs. 79,96,545/-. The loan carries an interest rate of 8.75% per annum and repayable in 48 equal monthly installments. The machinery loan is secured by the machinery purchased.

Note 16.1 : Secured Loan from bank consists of the following -

a) Company has availed credit facility from Bank of Rs. 10,50,00,000/-. The effective rate of interest is 9.25% per annum. The facility is secured by Immovable property located at Nashik.

(a) Trade payables include Rs. Nil (As at March 31, 2021: Rs. Nil) due to micro, small and medium enterprises registered under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED).

(b) The Company is in the process of compiling relevant information from its suppliers about their coverage under the Micro, Small and Medium Enterprises Development Act, 2006. As the Company has not received any intimation from its suppliers as on date regarding their status under the above said Act and hence disclosures if any relating to amounts unpaid as at year end together with the interest paid /payable as required under the said Act have not been given.

(c) There are no unbilled and not due trade payables, hence the same has not been disclosed in ageing schedule.

* The company has received Order from Goods and Services Tax Department, amounting to Rs. 1,78,23,428 for FY 2018-19, Rs. 1,09,84,940 for FY 2019-20 and Rs. 53,89,626 for FY 2022-23. However, the company has filed an appeal against the aforementioned orders. As there is possible obligation which will be confirmed only by the future events and not wholly within the control of the company, hence the amount has been reported as a contingent liability.

Note 32 : Details of dues to Micro and Small Enterprises as defined under the MSMED Act

There are no Micro and Small Enterprises as defined in the Micro, Small and Medium Enterprises Development Act,

Note 40 : Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification/ disclosure.

Note 41 : Rounding off

The Figures appearing in the Financial statements are rounded off to the nearest of thousand rupees.

(i) Ind AS 101 (First-time Adoption of Indian Accounting Standards) provides a suitable starting point for accounting in accordance with Ind AS and is required to be mandatorily followed by first-time adopters. The Company has prepared the opening Balance Sheet as per Ind AS as of 1st April, 2022 (the transition date) by:

a) recognising all assets and liabilities whose recognition is required by Ind AS,

b) not recognising items of assets or liabilities which are not permitted by Ind AS,

c) reclassifying items from previous Generally Accepted Accounting Principles (GAAP) to Ind AS as required under Ind AS, and

d) applying Ind AS in measurement of recognised assets and liabilities.

(iii) Ind AS 101 mandates certain exceptions and allows first-time adopters exemptions from the retrospective application of certain requirements under Ind AS. The Company has applied the following exemptions in the financial statements:

a) Property, plant and equipment and intangible assets were carried in the Balance Sheet prepared in accordance with previous GAAP on 31st March, 2015.

b) Ind AS estimates on the date of transition are consistent with the estimates as at the same date made in conformity with previous GAAP.

c) The company has assessed classification and measurement of financial assets based on facts and circumstances prevalent on the date of transition to Ind AS.

Financial Risk Factors: The Company's principal financial liabilities comprise borrowings and trade payables. The main purpose of these financial liabilities is to manage finances for the Company's operations. The Company's activities expose it to a variety of financial risks:

(i) Credit Risk: Credit risk arises from cash and cash equivalents and deposits with bank(s) / other company, as well as credit exposure to counter party that will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities.

(ii) Market Risk: Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

a) Interest rate risk: Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's total debt obligations with floating interest rates.

b) Foreign Exchange Risk: The Company generally transacts business in Indian National Rupee (INR). The Company does not have any foreign currency financial instruments and therefore is not exposed to foreign exchange risk.

c) Price Risk: During the financial year, the company engaged in construction industry. The price volatility of these services in domestic and international markets does not generally affect the operating activity of the Company.

(iii) Liquidity Risk: Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed

credit facilities to meet obligations when due and to close out market positions. The Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium term expansion needs. Management monitors the Company's liquidity position through rolling forecasts on the basis of expected cash flows.

The Company manages its capital in order to ensure that the Company will continue as a going concern and create value for its shareholders by maximizing return through an optimized capital structure.

(i) Market Risk: Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.

Note 46 : Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

Note 47 : Corporate Social Responsibility (CSR)

As per the provisions of section 135 of the Companies Act 2013, the company is not mandatorily required to constitute a Corporate Social Responsibility Committee and spend funds for the Corporate Social Responsibility (CSR) activities. Accordingly, disclosure requirement is not applicable.

The Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year. Accordingly, disclosure requirement is not applicable.

b) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

c) 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 on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

1. There is a deviation of more than 25% in the Debt Service Coverage Ratio, as there is a decrease in the amount of debt service.

2. There is a deviation of more than 25% in the Return on Equity as compared to the previous year, as the average total equity has increased as compared to the previous year.

3. There is a deviation of more than 25% in the Trade Receivables Turnover Ratio as compared to the previous year, as the amount of average trade receivables has decreased as compared to the previous year.

4. There is a deviation of more than 25% in the Trade Payables Turnover Ratio as compared to the previous year, the amount of average trade payables has decreased as compared to the previous year.

5. There is a deviation of over 25% in the Return-on-Investment Ratio compared to the previous year because the amount invested in Fixed Deposit Receipts (FDR) has nearly doubled from the previous year's investment.