(vi) Provisions and contingencies
Provisions
Provisions are recognised when the Company has a present obligation as a result of a past event. It is
probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed
at each balance sheet date and are adjusted to reflect the current best estimate.
Contingencies
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 control of the Company or a present 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 can not be made. Information on contingent liability is disclosed in the Notes to
the Financial Statements. Contingent assets are not recognised. However, when the realisation of
income is virtually certain, then the related asset is no longer a contingent asset, but it is recognised as
an asset.
(vii) Current versus non-current classification
The policy of the Company is required to presents assets and liabilities in statement of financial position
based on current/non-current classification.
The Company has to present non-current assets and current assets before equity, non-current liabilities
and current liabilities in accordance with Schedule III, Division II of Companies Act, 2013 notified by
MCA
An asset is classified as current when it is:
a) Expected to be realised or intended to be sold in normal operating cycle.
b) Held primarily for the purpose of trading.
c) Expected to be realised within twelve months after the reporting period, or
d) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period.
All other assets are classified as non-current.
A liability is classified as current when:
a) It is expected to be settled in normal operating cycle.
b) It is held primarily for the purpose of trading.
c) It is due to be settled within twelve months after the reporting period, or
d) There is no unconditional right to defer the settlement of the liability for at least twelve months after
the reporting period.
All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
1.4 Critical accounting estimates, assumptions and judgements
In the process of applying the Company's accounting policies, management has made the following
estimates, assumptions and judgements, which have significant effect on the amounts recognised in the
financial statement:
A Income Tax
Management judgement is required for the calculation of provisions for income tax and deferred tax
assets and liabilities. The Company reviews at each balance sheet date the carrying amount of deferred
tax. The factors used in estimates may differ from actual outcome which could lead to significant
adjustment to the amounts reported in the financial statements.
B Contingencies
Management judgement is required for estimating the possible outflow of resources, if any, in respect of
contingencies/claim/litigations against the Company as it is not possible to predict the outcome of
pending matters with accuracy.
19 Sale of unlisted shares were at the mutually agreed price with the buyer.
20 The previous year figures have been regrouped / reclassified, wherever necessary to conform the
current year presentation.
As per Our Report of even date attached
For G C Agarwal & Associates For & on Behalf of the Board
Chartered Accountants
Firm Regn. No. 017851N
Sd/- Sd/Ý Sd/-
(G C Agarwal) (Prema Bajaj) (Vinod Kumar Shrma)
Partmer Company Secretary CFO
M. No. 083820 PAN: AXPPB6794C PAN: AATPS2033C
(Membership No. A36667)
Place: New Delhi
Date: 20.05.2025 Sd/- Sd/-
(Bhisham Kumar Gupta) (SanjaySharma)
Managing Director Director
DIN: 00110915 DIN:07342776
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