k) 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.
l) 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.
25. 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.
26. The Company has not revalued its Property, Plant and Equipment for the current year.
27. There has been no Capital work in progress for the current year of the company.
28. There has been no Intangible assets under development in the current year.
29. 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.
30. Since the company has taken Unsecured loan which is given by director of company but for
that company has not any agreement in writing.
31. The Company does not have any charges or satisfaction which is yet to be registered with
ROC beyond the statutory period.
32. The Company has traded or invested in Crypto currency or Virtual Currency during the year
under consideration.
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 thereunder.
34. The company has not been declared as willful 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
c. 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
d. 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:
41. Corporate Social Responsibility (CSR)
The section 135 (Corporate social responsibility] of companies act, 2013 is not applicable to
the company.
42. Notes forming part of accounts in relation to Micro and small enterprise
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.
43. 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.
44. 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.
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