l. Provisions, Contingent Liabilities and 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 possible that there will be an outflow of resources. Contingent
Liabilities are not recognized but are disclosed in the notes on accounts. Contingent Assets are neither recognized
nor disclosed in the financial statements.
m. E arnings per Share:
The basic Earnings Per Share (“EPS”) is computed by dividing the net profit after tax for the year by the weighted
average number of equity shares outstanding during tire year. For tire purpose of calculating diluted earnings per
share, net profit after tax but before OCI for die year attributable to equity shareholders and die weighted average
number of shares outstanding during the year are adjusted for the effects of all dilutive potential of equity shares.
SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS
Preparation of the financial statements requires management to make judgments, estimates and assumptions, as
described below, that affect the reported amounts and the disclosures. The Company based its assumptions and
estimates on parameters available when die financial statements were prepared and reviewed at each Balance Sheet
date. Uncertainty about diese assumptions and estimates could result in outcomes diat may require a material
adjustment to die reported amounts and disclosures.
2.1 The company has entered into an MoU dated 04th January, 2006 and paid an amount of ? 250.00 Lakhs as
advance deposit for procuring Ac 37-23 guntas of land for construction of commerced & residential apartments
in Sy No.163 of Hydemagar Village, Balanagar Mandal, Ranga Reddy District, Subsequently due to various legal
disputes, die company has not continued for further developements of the said transaction, accordingly could not
complete the same. The company has requested the seller to repay the advance deposit amount, and accordingly
the seller is repaying die amounts partly. Out of total advance deposit of ? 250.00 Lakhs the company has
recovered an amount of ? 76.50 till the financial year 2024-25. The management is confident of recovering the
balance amount and opinioned no provision is required.
5.1 A) ( Company has given a loan of 7 200.00 Lakhs to Sri Sai Techno Fab @ an interest rate of 12% P. A and ? 100.00 I
Lakhs to P R Consultany @ an interest rate of 12% P.A. Company has filed a case U/s 138 of Negotiable
Instruments Act for recovery of ^ 200.00 Lakhs due from Sri Sai Techno Fab vide case reference no. CC.No. 1290
of2021 filed In the Court of VIII Metropolitan Magistrate Court at Hyderabad. The petition was dismissed on
21.01.2025 and for defence arguments posted to 29.01.2025. in the mean time the accused Mr. K Phaneendra
Kumar, Proprietor of Sri Sai Techno Fab filed a petition in Hon'ble High Court for the State of Telangana vide
CRLP No 1790 of 2025 dated 06.02.2025 to set aside the Order dated 21.01.2025 in CC NI No. 1290 of 2021 on
the file of VIII Judicial Magistrate by -allowing the petition in the interest of justice, interim order granted on
02.05.2025 is extended till 23.06.2025,Mil MM Court for arguments posted the matter to 16.06.2025.
B)Company has also filedacase U/s 138 ofNegotiable Instruments Act for recovery of ? 100.00 Lakhs due from
P R Consultancy vide case reference no. C.C.No.l283of 2021 filed In the Court of Mil Metropolitan Magistrate
Court at I Iyderabad. The petition was dismissed on 21.01.2025 and for defence arguments posted to 29.01.2025,
in the mean time the accused Mr. P.Krishna Prasad, Proprietor of P R Consultany filed a petition in I Ion'ble I Iigh
Court for the Stite of Telangana vide CRLP No.1789 of 2025 dated 06.02.2025 to set aside the Order dated
21.01.2025 in CC NI No. 1283 of 2021 on the file of VIII Judicial Magistrate by allowing the petition in the
interest of justice, interim order gran ted on 02.05.2025 is extended till 23.06.2025, MR MM Court for arguments
posted the matter to 16.06.2025.The management is confident of recovering the amount.
Since the recovery of the said loan is under legal dispute, the company has not accounted any interest on the said
loan.
18. Contingent Liabilities:
a) Disputed seigniorage fees liability of ? 28.43 lakhs ( Fees ? 4.77 lakhs and penalty' of ? 23.66) for which revision
petition has been filed by the company. Revision Petition was disposed and directed to pay Normal signiorage fees
of? 4.77 lakhs along with one time penalty as per Demand notice dt 20.12.2022 and also granted Six monthly
installments with applicable interest for payment of said amount. Accordingly revision petition is disposed off.
Company has paid balance four installments during the year.
li) Company has received GST Order dated 18.04.2024 for the financial year 2018-19 to pay an amount of ? 23.10
bikhs on account of disallowance of Input Tax Credit. Company filed an appeal on 15.07.2024 against the Order
dated 18.04.2024 before the Appellate Joint Commissioner (ST) Secunderabad Division. Upon submission of all
the relevant required documents the Office of the Appellate Joint Commissioner (ST) Secunderabad Division has
issued an modified order dated 21.11.2024 by allowing Input Tax Credit of ? 22.79 Lakhs and directed to pay the
balance amount of ? 0.32 Lakhs due to mismatch in Input Tax Credit.
22. Confirmations are not received in respect of the amounts relating to trade receivables, trade payables, loans &
advances.
23. Dues to Micro, Small and Medium Enterprises:
The identification of micro, small and medium enterprise suppliers as defined under the provisions of “Micro,
sm;ill and medium enterprises Act, 2006” is based on Management's knowledge of their status. There are no dues
to micro, small and medium enterprises as on 31 March 2025.
24. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosure. Figures are rounded off to the nearest thousands.
25. a Mrs.Kodali Yijayarani, Promoter Shareholder & Director of the company has filed a petition in NCLT under
Section 241 of the companies Act against allotment of 1,24,50,000 Equity' Shares of Rs.10/- each, made to 7
individuals for consideration other than cash. Praying the NCLT to declare the allotment as illegal and affect
consequent reduction of the Share Capital of the company and also prayed for an Interim Relief of not to alienate
/ not to create any third party' interest in the said shares of 1,24,50,000.
The case is admitted by NCLT and passed an Interim Order dt 14th October, 2020 restaining the 7 individual
shareholders from dealing wadi 1,24,50,000 shares and directed not to alienate, minster or enter into any agreement
or create any third party' interest until further orders. The Petition filed by Promoter Shareholder was dismissed by
NCLT on 15.06.2022.'
Mrs. Kodak Yijayarani, Promoter Shareholder & Director of the company lias filed an appeal petition at National
Company Law Appellate Tribunal at Chennai under Section 421 of the Companies Act, 2013 tide Petition No. 59
of2022. After several adjournments the case was listed on 09.04.2025 and the "Office of Registry'" directed to list
the matter on 27.06.2025 under the caption "For Admission (After Notice)".
25. b Company is a Respondent in the appeal petition filed by Mrs. Kodali Vijayarani, Promoter Shareholder & Director
of the company at National Company Law Appellate Tribunal at Chennai under Section 421 of the Companies
Act, 2013 vide Petition No. 59 of 2022. The Company has filed counter on the said petition . After several
adjournments the case was listed on 09.04.2025 and the "Office of the Registry'" directed to List the matter on
27.06.2025 under the caption "For Admission (.After Notice)".
26. Other Statutory Information
i) The Comp.my does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property'.
ii) The Company' does not have any transactions with companies struck off.
iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
iv) The Company has not traded or invested in Crypto Currency or Virtual Currency dunng the financial year.
v) The Company has not been declared wilful defaulter by any bank or financial institution or government or any
government authority.
vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies) including
foreign entities (Intermmediaries) with the a) directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Company (Utimate Beneficiaries) orb) provide any
guarantee, security' or the like to or on behalf of the ultimate Beneficiaries.
vii) 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 indetified 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
Beneteciaries.
viii) The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income dunng the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
In terms of our report of even date attached.
For Suryanarayana & Suresh For and on behalf of the Board
Chartered Accountants
Firm Regd. No.: 00663IS
MuralikrishnaPinamaneni G. Satyanarayana K.VijayaRani
Partner A Ian aging Director Director
Membership No. 224.319 DIN: 02051710 DIN: 00102286
Place: Hyderabad M.R. Koteswara Rao Deshna Jain
Date: 29.05.2025 Chief Financial Officer C(impany' Secretary
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