q) Provisions Contingent liabilities and contingent assets: -
A provision is recognized if, as a result of a past event, the Company has a
present legal obligation that can be estimated reliably, and it is probable
that an outflow of economic benefits will be required to settle the
obligation. Provisions are determined by the best estimate of the outflow
of economic benefits required to settle the obligation at the reporting date.
Where no reliable estimate can be made, a disclosure is made as Contingent
Liability.
A disclosure for a Contingent Liability is also made when there is a possible
obligation or a present obligation that may, but probably will not, require
an outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is
remote, no provision or disclosure is made.
Possible obligation that arises from the past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain
future events beyond the control of the Company or a present obligation
that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation is reported as Contingent
Liability. In the rare cases, when a liability cannot be measures reliable, it
is classified as Contingent Liability. The Company does not recognize a
Contingent Liability but disclosed its existence in the standalone financial
statements.
r) Event after Reporting Date: -
Where events occurring after the Balance Sheet date provide evidence of
condition that existed at the end of reporting period, the impact of such
events is adjusted within the standalone financial statements. Otherwise,
events after the Balance Sheet date of material size or nature are only
disclosed.
23. The previous year’s figures have been reworked, regrouped, and reclassified
wherever necessary. Amounts and other disclosures for the preceding year are
included as an integral part of the current annual financial statements and are to
be read in relation to the amounts and other disclosures relating to the current
financial year.
24. The Company has not revalued its Property, Plant and Equipment for the current
year,
25. There has been no Capital work in progress for the current year of the company,
26. There are no Intangible assets under development in the current year,
27. Credit and Debit balances of unsecured loans, Trade Payables, sundry Debtors,
loans and Advances are subject to confirmation and therefore the effect of the
same on profit could not be ascertained,
28. Since the company has taken Unsecured loan which is given by director of
company but for that company has not any agreement in writing,
29. The Company has not made an actuarial valuation for provision of Gratuity as
per AS 15 and accounted for gratuity when gratuity is claimed by the employee
at the time of retirement, To that extent the profit & loss account of the company
does not represent true & fair result of the company performance,
30. The company neither collect nor deposited amount of provided fund and ESIC as
per the statutory obligation, To that extent the profit & loss account of the
company does not represent true & fair result of the company performance.
31. The Company does not have any charges or satisfaction which need to be created
or registered with ROC beyond the statutory period, except:
1) Charge created in the Favor of charge holder (Axis Bank Ltd) on dated
27/08/2022 of Rs 28,49 Lakhs over the certain assets of company,
2) Charge created in the Favor of charge holder (Indusind Bank Ltd) on
dated 25/05/2022 of Rs 6,30 Lakhs over the certain assets of company,
• Stated above both charges are satisfied in current financial year but CHA-4 is not
filed with ROC,
32. The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year,
33. No proceeding has been initiated or pending against the Company for holding
any Benami property under the Benami Transactions (Prohibition) Act, 1988, as
amended, and rules made thereundei!56
34. The company has not been declared as wilful defaulter by any bank or financial
institution or government or government authority.
35. The Company has not advanced or loaned to or invested in funds to any other
person(s) or entity(is), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:
a. directly or indirectly lend to or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the company
(Ultimate Beneficiaries)
or
b. provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries
36. The Company has not received any fund from any person(s) or entity(is),
including foreign entities (Funding Party) with the understanding (whether
recorded in writing or otherwise) that the Company shall
a. directly or indirectly lend to or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Funding
Party (Ultimate Beneficiaries) or
b. Provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
37. The company does not have transaction with the struck off under section 248 of
companies act, 2013 or section 560 of Companies act 1956.
38. The company is in compliance with the number of layers prescribed under clause
(87) of section 2 of company’s act read with companies (restriction on number of
layers) Rules, 2017.
39. Related Parties Disclosure: -
The Disclosures of Transaction with the related parties as defined in the related
parties as defined in the Accounting Standard are given below:
As per Accounting Standard 18, issued by the Chartered Accountants of India,
The Disclosures of Transaction with the related parties as defined in the related
parties as defined in the Accounting Standard are given below:
42. Corporate Social Responsibility (CSR)
The section 135 (Corporate social responsibility) of companies acts, 2013 is not
applicable to the company.
43. Notes forming part of accounts in relation to Micro and small enterprise
1. Based on information available with the company, on the status of the suppliers
being Micro or small enterprises, on which the auditors have relied, the disclosure
requirements of Schedule III to the Companies Act,2013 with regard to the payments
made/due to Micro and small Enterprises are given below:
The company has initiated the process of obtaining the confirmation from suppliers
who have registered themselves under the Micro, Small and Medium Enterprises
Development Act, 2006 (MSMED Act, 2006) but has not received the same in totality.
The above information is compiled based on the extent of responses received by the
company from its suppliers.
44. Title deeds of immovable Property
Tittle deeds of immovable property has not been held in the name of promoter,
director, or relative of promoter/ director or employee of promoters / director
of the company, hence same are held in the name of the company.
45. Loans or Advances in the nature of loans to promoters, directors, KMPs and
the related parties: -
No 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.
46. Compliance with approved Scheme(s) of Arrangements
The Company does not have made any arrangements in terms of section 230 to
237 of companies act 2013, and hence there is no deviation to be disclosed.
47. Utilization of Borrowed funds and share premium: -
As on March 31, 2025 there is no unutilized amount in respect of any issue of
securities and long-term borrowings from bank and financial institutions. The
borrowed funds have been utilized for the specific purpose for which the funds
were raised.
|