k. Provisions
Provisions are recognised when the Company has a present
legal or constructive obligation as a result of a past events, it is
probable that an outflow of resources will be required to settle
the obligation and the amount can be reliably estimated.
Provisions are measured at present value of management's
best estimate of the expenditure required to settle the present
obligation at the end of the reporting period. The discount rate
used to determine the present value pre-tax rate that reflect
current market assessment of the time value of money and the
risk specific to the liability.
l. 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
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 cannot be made.
m. Cash and Cash Equivalents
In the cash flow statement, cash and cash equivalents include
cash in hand, cash at banks, cheques in hand, demand deposits
with banks and other short-term highly liquid investments
with original maturities upto three months adjusted for bank
overdrafts, if any. Bank overdrafts are shown within borrowings
in current liabilities in the balance sheet.
n. Trade receivables
Trade receivables are recognised initially at transaction price.
o. Financial instruments
A financial instrument is any contract that gives rise to a
financial asset of one entity and a financial liability or equity
instrument of another entity.
A. Financial assets
(i) Classification
The Company classifies financial assets as
subsequently measured at amortised cost, fair value
through other comprehensive income or fair value
through profit or loss on the basis of its business model
for managing the financial assets and the contractual
cash flow characteristics of the financial asset.
(ii) Initial recognition and Measurement
All financial assets are recognised initially at fair value
including, in the case of financial assets not recorded
at fair value through profit or loss, transaction costs that
are attributable to the acquisition of the financial asset.
Purchases or sales of financial assets that require
delivery of assets within a time frame established by
regulation or convention in the market place (regular
way trades) are recognised on the trade date, i.e., the
date that the Company commits to purchase or sell the
asset.
The Company has accounted for it's investment in
subsidiaries at cost.
(iii) Debt instruments at amortised cost
A 'debt instrument' is measured at the amortised cost if
both the following conditions are met:
a) The asset is held within a business model whose
objective is to hold assets for collecting contractual
cash flows, and
b) Contractual terms of the asset give rise to cash
flows on specified dates that are solely payments
of principal and interest (SPPI) on the principal
amount outstanding.
After initial measurement, such financial assets are
subsequently measured at amortised cost using the
effective interest rate (EIR) method. Amortised cost
is calculated by taking into account any discount or
premium and fees or costs that are an integral part of
the EIR. The EIR amortisation is included in finance
income in the Statement of Profit and Loss. The
losses arising from impairment are recognised in the
Statement of Profit and Loss.
Debt instruments included within the fair value through
profit and loss (FVTPL) category are measured at fair
value with all changes recognized in the Statement of
Profit and Loss.
(iv) Derecognition
A financial asset is derecognised only when
(i) The Company has transferred the rights to receive
cash flows from the financial asset or
(ii) Retains the contractual rights to receive the
cash flows of the financial asset, but assumes a
contractual obligation to pay the cash flows to one
or more recipients.
Where the entity has transferred an asset, the Company
evaluates whether it has transferred substantially all
risks and rewards of ownership of the financial asset.
In such cases, the financial asset is derecognised.
Where the entity has not transferred substantially all
risks and rewards of ownership of the financial asset,
the financial asset is not derecognised.
Where the entity has neither transferred a financial
asset nor retains substantially all risks and rewards of
ownership of the financial asset, the financial asset is
derecognised if the Company has not retained control
of the financial asset. Where the Company retains
control of the financial asset, the asset is continued to
be recognised to the extent of continuing involvement
in the financial asset.
(v) Impairment of financial assets
In accordance with Ind-AS 109, the Company applies
expected credit loss (ECL) model for measurement
and recognition of impairment loss on the following
financial assets and credit risk exposure:
a) Financial assets that are debt instruments and
are measured at amortised cost e.g., loans, debt
securities, deposits and bank balance
b) Trade receivables
The Company follows 'simplified approach' for
recognition of impairment loss allowance on:
i) Trade receivables which do not contain a significant
financing component
ii) All lease receivables resulting from transactions
The application of simplified approach does not require
the Company to track changes in credit risk. Rather,
it recognises impairment loss allowance based on
lifetime ECL at each reporting date, right from its initial
recognition.
For recognition of impairment loss on other financial
assets and risk exposure, the Company determines
that whether there has been a significant increase
in the credit risk since initial recognition. If credit risk
has not increased significantly, 12-month ECL is used
to provide for impairment loss. However, if credit risk
has increased significantly, lifetime ECL is used. If, in
a subsequent period, credit quality of the instrument
improves such that there is no longer a significant
increase in credit risk since initial recognition, then the
entity reverts to recognising impairment loss allowance
based on 12-month ECL.
B. Financial liabilities
(i) Classification
The Company classifies all financial liabilities as
subsequently measured at amortised cost, except for
financial liabilities at fair value through Statement of
Profit and Loss. Such liabilities, including derivatives
that are liabilities, are subsequently measured at fair
value.
(ii) Initial recognition and measurement
Financial liabilities are classified, at initial recognition,
as financial liabilities at fair value through profit or loss,
loans and borrowings, payables, or as derivatives
designated as hedging instruments in an effective
hedge, as appropriate.
All financial liabilities are recognised initially at fair
value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs.
The Company's financial liabilities include trade and
other payables, loans and borrowings including bank
overdrafts.
(iii) Financial liabilities at fair value through Statement
of Profit and Loss
Financial liabilities at fair value through profit or loss
include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair
value through profit or loss. Financial liabilities are
classified as held for trading if they are incurred for
the purpose of repurchasing in the near term. This
category also includes derivative financial instruments
entered into by the Company that are not designated as
hedging instruments in hedge relationships as defined
by Ind-AS 109. Separated embedded derivatives are
also classified as held for trading unless they are
designated as effective hedging instruments.
Gains or losses on liabilities held for trading are
recognised in the Statement of Profit and Loss.
Financial liabilities designated upon initial recognition
at fair value through profit or loss are designated at the
initial date of recognition, and only if the criteria in Ind-
AS 109 are satisfied. For liabilities designated as fair
value through Statement of Profit and Loss (FVTPL),
fair value gains/ losses attributable to changes in own
credit risk are recognized in OCI. These gains/losses
are not subsequently transferred to Statement of Profit
and Loss. However, the Company may transfer the
cumulative gain or loss within equity. All other changes
in fair value of such liability are recognised in the
Statement of Profit and Loss. The Company has not
designated any financial liability as fair value through
Statement of Profit and Loss.
(iv) Loans and borrowings
After initial recognition, interest-bearing loans and
borrowings are subsequently measured at amortised
cost using the EIR method. Gains and losses are
recognised in Statement of Profit and Loss when the
liabilities are derecognized.
Amortised cost is calculated by taking into account
any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The
EIR amortisation is included as finance costs in the
Statement of Profit and Loss.
(v) Derecognition
A financial liability is derecognised when the obligation
under the liability is discharged or cancelled or
expires. When an existing financial liability is replaced
by another from the same lender on substantially
different terms, or the terms of an existing liability
are substantially modified, such an exchange or
modification is treated as the derecognition of the
original liability and the recognition of a new liability.
The difference in the respective carrying amounts is
recognised in the Statement of Profit and Loss.
(vi) Offsetting of financial instruments
Financial assets and financial liabilities are offset
and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle
the liabilities simultaneously.
p. Fair value measurement
'Fair value' is the price that would be received to sell an asset
or paid to transfer a liability in an orderly transaction between
market participants at the measurement date in the principal
or, in its absence, the most advantageous market to which the
Company has access at that date. The fair value of a liability
reflects its non-performance risk.
All assets and liabilities for which fair value is measured or
disclosed in the financial statements are categorised within the
fair value hierarchy, described as follows, based on the lowest
level input that is significant to the fair value measurement as
a whole:
? Level 1 - Quoted (unadjusted) market prices in active
markets for identical assets or liabilities
? Level 2 - Valuation techniques for which the lowest level
input that is significant to the fair value measurement is directly
or indirectly observable
? Level 3 - Valuation techniques for which the lowest level
input that is significant to the fair value measurement is
unobservable
For assets and liabilities that are recognised in the financial
statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the
hierarchy by re-assessing categorisation (based on the lowest
level input that is significant to the fair value measurement as
a whole) at the end of each reporting period.
q. Earnings per share
(i) Basic earnings per share
Basic earnings per share is calculated by dividing:
- the net profit attributable to owners of the Company
- by the weighted average number of equity shares
outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the
year, if any and excluding treasury shares (Refer note
32).
(ii) Diluted earnings per share
Diluted earnings per share adjusts the figures used in
the determination of basic earnings per share to take into
account:
- the after income tax effect of interest and other
financing costs associated with dilutive potential equity
shares, and
- the weighted average number of additional equity
shares that would have been outstanding assuming
the conversion of all dilutive potential equity shares.
(Refer note 32).
r. Segment Information
The Company has only one operating segment, which is
'integrated air and ground transportation and distribution'.
All assets of the Company are domiciled in India and the
Company earns it's entire revenue from its operations in India.
There is no single customer which contributes more than 10%
of the Company's total revenues (Refer note 34).
s. Rounding of amounts
All amounts disclosed in the financial statements and notes
have been rounded off to the nearest Lakhs as per the
requirement of Schedule III of the Act.
3.1 Recent accounting pronouncment
Ministry of Corporate Affairs ("MCA") notifies new standard or
amendments to the existing standards.
The Ministry of Corporate Affairs (MCA) has notified the Companies
(Indian Accounting Standards) Amendment Rules, 2025 and the
Companies (Indian Accounting Standards) Second Amendment
Rules, 2025 during FY 25-26.
i. Ind AS 1
ii. Ind AS 7
iii. Ind AS 107
iv. Ind AS 12
v. Ind AS 21
The adoption of above new and revised Ind AS did not have any
material impact on the disclosures or on the amounts recognised
in the financial statements.
b. Rights, preferences and restrictions attached to equity shares
The Company has only one class of equity shares having a par value of ' 10 per share. Every share holder is entitled to participate in
dividends. Each shareholder of equity shares is entitled to one vote per share.
The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of
the shareholders in the ensuing Annual General Meeting, except in case of interim dividend which is approved by the Board of Directors.
In the event of liquidation, the equity share holders are eligible to receive the remaining assets of the Company after distribution of all
preferential amounts, in proportion to their share holding.
Nature and purpose of reserves:Securities Premium
Securities Premium is used to record the premium received on issue of shares. The reserve can be utilised only in accordance with the
provisions of the Act.
General Reserve
Under the erstwhile Companies Act 1956, General Reserve was created through an annual transfer from net profit after tax at a specified
percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that in a year in which dividend
distribution is more than 10% of the paid-up capital of the Company, then the total dividend distribution is lower than the total distributable
profits for that year.
Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit
to General Reserve has been withdrawn. However, the amount previously transferred to the General Reserve can be utilised only in
accordance with the specific requirements of the Companies Act, 2013.
33 LEASES
The Company has lease contracts for various items of Buildings and Vehicles used in its operations. Leases of buildings generally have lease
terms between 2 and 15 years, while vehicles generally have lease terms of 5 years. The Company's obligations under its leases are secured
by the lessor's title to the leased assets.
The Company also has certain leases of buildings with lease terms of 12 months or less and leases of office equipment with low value. The
Company applies the 'short-term lease' and 'lease of low-value assets' recognition exemptions for these leases.
Refer note 4 for carrying amount of right-of-use assets recognised and the movements during the year.
The maturity analysis of lease liability is disclosed in note 35(B).
The effective interest rate for lease liabilities is from 5.36 % to 8.68 %, with maturity between 2026-2035.
Rent concession
The Company has applied the practical expedient in paragraph 46A of IndAS 116 to all rent concessions that meet the conditions of in
paragraph 46B of IndAS 116. An amount of ' Nil (Previous year- ' Nil) has been netted off against rent expenses in Statement of Profit and
Loss account for the year ending March 31, 2026 to reflect changes in lease payments that arise from rent concessions to which the lessee
has applied practical expedient in paragraph 46A.
34 SEGMENT INFORMATION
The Company has only one operating segment, which is integrated air and ground transportation and distribution. All assets of the Company
are domiciled in India and the Company earns its entire revenue from its operations in India. There is no single customer which contributes
more than 10% of the Company's total revenues.
Fair Value Hierarchy:
This section explains the judgements and estimates made in determining the fair values of the financial instruments that are:
(a) recognised and measured at fair value and
(b) measured at amortised cost and for which fair values are disclosed in the financial statements.
To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments
into the three levels prescribed in Ind AS 113 - Fair Value Measurement. An explanation of each level follows underneath the table.
Level 1: It represents units of mutual funds measured using the closing Net Asset Value (NAV).
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which
maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair
value an instrument are observable, the instrument is included in level 2. The fair value forward foreign exchange contracts is determined
using forward exchange rates at the Balance Sheet date.
Level 3: If one or more of the significant inputs is not based on observable market data (Security Deposits), the instrument is included
in level 3. The fair value of the security deposits with definite maturity period is determined using discounted cash flow analysis using an
adjusted lending rate.
B Financial Risk management
i) Risk management framework
The Company's activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company's
primary risk management focus is to minimize potential adverse effects of market risk on its financial performance. The Company's
risk assessment and policies and processes are established to identify and analyze the risks faced by the Company to set appropriate
risk limits and controls and to monitor such risks and compliance with the policies and processes. Risk assessment and policies and
processes are reviewed regularly to reflect changes in market conditions and the Company's activities. The Board of Directors and the
management is responsible for overseeing the Company's risk assessment and policies and processes.
ii) Credit Risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations and arises principally from the Company's receivables from customers. Credit risk is managed through credit approvals,
establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in
the normal course of business. The Company establishes an allowance for doubtful debts and impairment that represents its estimate
of expected credit loss in respect of trade and other receivables and investments. The management uses a simplified approach for the
purpose of computation of expected credit loss for trade receivables . An impairment analysis is performed at each reporting date on
an individual basis for major parties. In addition, a large number of minor receivables are combined into homogenous categories and
assessed for impairment collectively. The calculation is based on historical data of actual losses.
Trade and other receivables
The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of
the customer, including the default risk of the industry in which the customer operates also have an influence on credit risk assessment.
Concentrations of credit risk with respect to trade receivables are limited, due to the Company's customer base being large and
diverse and also on account of realisation of receivables with in six months. All trade receivables are reviewed and assessed for
default on a regular basis.
Our historical experience of collecting receivables, supported by the level of default, is that credit risk is low.
Cash and cash equivalents
The Company held cash and cash equivalents with credit worthy banks amounting to Rs. 22,246 Lakhs and Rs. 15,849 Lakhs as at
March 31,2026 and March 31, 2025 respectively. The credit worthiness of such banks is evaluated by the management on an ongoing
basis and is considered to be good.
Bank Balance other then above and current investment
The Company has invested ' 41,256 lakhs (Previous year- ' 38,578 lakhs) in unquoted investments of credit worthy mutual funds
and Other bank balances of ' 31 lakhs (Previous year - ' 1 lakhs). The credit worthiness of such mutual funds is evaluated by the
management on an ongoing basis and is considered to be good.
Security deposits given to lessors
The Company has given security deposit to lessors for premises leased by the Company as at March 31, 2026 and March 31, 2025.
The credit worthiness of such lessors is evaluated by the management on an ongoing basis and is considered to be good.
Loans and Inter Corporte Deposit and Payload deposit with Blue Dart Aviation Limited
The Company has an outstanding loans of ' 54,350 Lakhs and ' 60,750 Lakhs as at March 31,2026 and March 31,2025 respectively.
The Company has given interest free payload deposit of ' 12,500 Lakhs and ' 9,650 Lakhs as at March 31, 2026 and March 31,
2025 respectively.
During the year ended March 31, 2026, the Company extended Inter Corporate Deposits aggregating to ' 2,600 lakhs (Previous
year- '11,000 lakhs) under bridge financing arrangement which got settled in full as at year end as at March 31, 2026 and March 31,
2025 respectively.
The operation of Blue Dart Aviation Limited is integral part of Company's operations. Considering the operations, future business plan
and cash flow projections of wholly owned subsidiary the recoverability of the payload deposit is considered to be good.
iii) Liquidity risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages
its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both
normal and stressed conditions, without incurring unacceptable losses or risk to the Company's reputation.
The Company has access to funds through various debt instruments option.
As of March 31, 2026, the Company had working capital of ' 50,775 Lakhs including loans of ' 10,881 Lakhs, cash and cash
equivalents including other bank balance of ' 23,589 Lakhs, trade receivables of ' 91,581 Lakhs, other assets of ' 50,773 Lakhs,
provision - employee benefit obligations of ' 8,825 Lakhs, trade payables of ' 74,229 Lakhs and other liabilities of ' 42,995 Lakhs.
As of March 31, 2025, the Company had working capital of ' 34,069 Lakhs including loans of ' 9,086 Lakhs, cash and cash
equivalents including other bank balance of ' 16,489 Lakhs, trade receivables of ' 78,489 Lakhs, other assets of ' 46,815 Lakhs,
provision - employee benefit obligations of ' 10,663 Lakhs, trade payables of ' 71,181 Lakhs and other liabilities of ' 34,966 Lakhs.
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and
undiscounted and include estimated interest payments and exclude the impact of netting agreements.
iv) Market risk
Market risk is the risk of loss of future earnings, fair values of future cash flows that may result from adverse changes in market rates
and prices (such as interest rates and foreign currency exchange rates) or in the price of market risk-sensitive instruments as a result
of such adverse changes in market rates and prices. Market risk is attributable to all market risk-sensitive financial instruments, all
foreign currency receivables and payables and all short term and long-term debt. The Company is exposed to market risk primarily
related to foreign exchange rate risk and interest rate risk. Thus, the Company's exposure to market risk is a function of investing and
borrowing activities and it's revenue generating and operating activities.
(a) Currency risk
The fluctuation in foreign currency exchange rates may have potential impact on the Statement of Profit and Loss account and equity,
where any transaction references more than one currency or where assets/liabilities are denominated in a currency other than the
functional currency of the entity.
Considering the countries and economic environment in which the Company operates, its operations are subject to risks arising from
fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in U.S. dollar and Euro against the functional
currency of the Company.
Exposure to currency risk
The summary quantitative data about the Company's exposure to currency risk as reported to the management of the Company is
as follows:
a) Demand includes order under Section 201(1)/201(1A) of the Income Tax Act, 1961 alleging non-deduction of TDS on payments made
to certain transport vehicle vendors and a penalty order under Section 270A(9) of the Income Tax Act, 1961 towards demand u/s 14A
/ excess claim of deduction u/s 80JJAA. The Company has filed appeals before the Commissioner of Income Tax (Appeals) against
the said orders.
b) Indirect tax matters are mainly due to disallowance of input tax credit from vendors whose registration has been cancelled or GSTR-
3B not filed by the vendors or differences on account of tax payment under incorrect head and misclassification of outward taxable
supply as exempt supply.
(ii) Pursuant to Aircraft Crew Maintenance and Insurance (“ACMI”) agreement entered into between the Company and its wholly owned
subsidiary Blue Dart Aviation Limited, the Company has supported Blue Dart Aviation Limited by issuing Letter of Comfort in favour of
various Banks / Financial Institutions to facilitate its borrowings. The Company has issued letter of comfort of ' 14,500 Lakhs in the earlier
year of which outstanding as on March 31, 2026 is ' 7,828 Lakhs (previous year ' 8,300 Lakhs).
1 During the year ended March 31, 2026, the Company has extended unsecured loan of ' 2,600 lakhs (Previous year - ' 23,000 lakhs) to Blue
Dart Aviation Limited, its wholly owned subsidiary for capital expenditure. The Company has received a repayment of ' 9,000 lakhs (Previous
year - ' 5,000 lakhs) from Blue Dart Aviation Limited. As at March 31, 2026 the outstanding loan balance is ' 54,350 lakhs (Previous year - '
60,750 lakhs) which is repayable as per defined payment schedule and the Non current loan is ' 43,475 lakhs (Previous year - ' 51,750 lakhs)
and Current loan is ' 10,875 lakhs (Previous year - ' 9,000 lakhs) as on balance sheet date. The loan carries an interest equivalent to 5 year
Government Security Bond Rate plus 50 basis point.
43 CAPITAL MANAGEMENT
The Company's objective for Capital management is to maximise shareholder's value and support the strategic objectives of the Company.
The Company determines the capital requirements based on its financial performance, operating and long term investment plans. The funding
requirements for current financial year are largely met through operating cash flows generated.
The Company monitors capital using a ratio of 'Adjusted net debt' to 'equity'. For this purpose, adjusted net debt is defined as total borrowings
less cash and cash equivalents (excluding collection on cash on delivery shipments held on behalf of customers). Equity comprises all
components of equity. Debt equity ratio as at March 31, 2026 is nil as the cash and cash equivalents (excluding collection on cash on delivery
shipments held on behalf of customers) are more than the total borrowings and as at March 31, 2025 is nil.
45 (a) Share Based Payments
(a) The company has operated certain share based schemes under Performance Share Plan, Share Matching Scheme, Employee Share
Plan and myShare plan ('the Schemes') during the year. The schemes are applicable for based their eligibility as per grades and
optional exercised to participate. The schemes are in the nature of discounted purchase of shares in the Ultimate Holding company
and with respective periods of lock-in as applicable under the schemes.
Certain eligible employees of the Company are covered under Performance Share Plan scheme under which Stock Options were
issued to certain eligible employees of the Company during the year ended March 31, 2026. The relevant details of the Performance
Share Plan Scheme and the Stock Options granted are given hereunder:
Vesting period - 4 years
The exercise price and other key terms are decided by the Ultimate Holding Company. The weighted average remaining contractual
life for the grants as at March 31, 2026 is 2.35 years (March 31, 2025 is 2.39 years).
(c) Effect of employee share based scheme on the statement of profit and loss and on its financial position.
The Ultimate Holding Company measures the cost of above scheme and recovers this amount from the Company. The Ultimate
Holding Company has charged ' 229 lakhs (Previous year - ' 376 lakhs) towards compensation cost pertaining to the share based
payment. The cost under these schemes is included in note 28 “Employee Benefits Expense”.
47 (i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding that the Intermediary shall:
a) 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
b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
(ii) 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:
a) 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
b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
(iii) The Company do not have any Benami property, where any proceeding has been initiated or pending against company for holding any
Benami property.
(iv) The Company do not have any charges or satisfaction which are yet to be registered with ROC beyond the statutory period.
(v) The Company have not traded or invested in Crypto currency or virtual currency during the financial year.
(vi) The Company do not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961 (such as survey or survey or any other relevant provisions
of the Income Tax Act, 1961).
48 The Company has used accounting softwares for maintaining its books of account for the year ended March 31, 2026 which have a feature
of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the softwares.
Additionally audit trail has been preserved by the Company as per the statutory requirements for record retention.
49 Events after the reporting period
The Company has evaluated subsequent events from the balance sheet date through May 09, 2026 the date at which the financial statements
were available to be issued, and determined that there are no material items to be discussed other than those discussed above.
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