11. Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)
Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of the amount
of the obligation can be made.
Contingent Liabilities is disclosed in Notes to the account for:-
(i) Possible obligations which will be confirmed only by future events not wholly within the control of the company or
(ii) Present Obligations arising from past events where it is not probable that an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of the obligation cannot be made.
Contingent assets are not recognized in the financial statement since this may result in the recognition of the income that may never
be realized.
General:
Except wherever stated, accounting policies are consistent with the generally accepted accounting principles and have been
consistently applied.
(B)Notes on Financial Statements
1. The SSI status of the creditors is not known to the Company; hence the information is not given.
2. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been taken at their book value subject to
confirmation and reconciliation.
3. Payments to Auditors:
4. Loans and Advances are considered good in respect of which company does not hold any security other than the personal
guarantee of persons.
5. No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact of the same on Profit & Loss
is not determined.
6. Related Party disclosure as identified by the company and relied upon by the auditors:
(A) Related Parties and their Relationship
(I) Key Management Personnel
1. Mr. Pratik Pramod Gupta
2. Mr. Varun Gupta
In terms of Our Separate Audit Report of Even Date Attached.
As per our attached report of even date Divyadhan Recycling Industries Limited
For Amarnath Sharma & Co
Chartered Accountants
Firm Reg. No.: 100300W
Pratik Gupta Varun Gupta Pramod Gupta
(CA. Amarnath Sharma) DIN : 06576759 DIN : 00471296 Company
Proprietor Director & CFO Managing Director Secretary
Membership No. : 039579
UDIN: 25039579BMNYCT6050
Place: Mumbai
Date : 30th May, 2025
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