if) Provisions and Contingencies .
The assessments undertaken in recognizing provisions and contingencies have been made-.in
accordance with the applicable Ind AS. A provision is recognized if, as a result of a past event,
the Company has a present legal or constructive obligation that can be estimated reliably, and
it is probable that an outflow of economic benefits will be required to settle the obligation.
Where the effect of time value of money is material, provisions are determined by discounting
the expected Future cash flows.
20. Segment Reporting
Business Segments:
As the Company's business activity primarily falls within a single primary business segment, the
disclosure requirements of IND AS 108 'Operating Segments' are not applicable.
Geographical Segments: ,
The company does not have operation outside India. Hence, disclosure of geographical segment
does not arise.
21. Disclosure Requirement for Sundry Creditors Covered Under MSME Act, 2016
Based on the information and records available with the Company, there are no amounts
payable to micro and small enterprises as defined in Micro, Small and Medium Enterprises
Development Act, 2006.
23. Undisclosed Income: .
There are no transactions 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.
24. Corporate Social Responsibility:
The company is not covered under section 135 of The Companies Act, 2013.
25. Details of Crypto Currency or Virtual Currency:
Company has not traded or invested in Crypto currency or Virtual Currency during the financial
year.
26. Capital Management
The Company's objectives when managing capital is to safeguard continuity, maintain a strong
credit rating and healthy capital ratios in order to support its business and provide adequate
return to shareholders through continuing growth and maximize the shareholders value . The
company's overall strategy remains unchanged from previous year. The following table
summarizes the capital of the company.
27. Additional Regulatory Information
i. Registration of Charges:
There are no charges or satisfaction yet to be registered with ROC beyond the statutory
period.
ii. Compliance with Number of Layers of Companies:
Since the Company does not have any holding/subsidiary, thus the clause is not applicable.
iii. Relationship with Struck off Companies:
There are no transactions and balance outstanding to and from any struck off companies as
on the balance sheet date.
iv. Wilful Defaulter:
Company is not declared wilful defaulter by any bank or financial Institution or other lender.
v. Compliance with approved Scheme(s) of Arrangements:
No Scheme of Arrangements has been approved by the Competent Authority in terms of
sections 230 to 237 of the Companies Act, 2013,
vi. Utilisation of Borrowed funds and share premium:
a. Company has not advanced or loaned or invested funds (either borrowed funds or share
premium or any other sources or kind of funds) to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding (whether recorded in
writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee, security or the like to or
on behalf of the Ultimate Beneficiaries the company.
b. 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 (i) 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 (ii) provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.
For, S K Jha & Co. For and on behalf of Board of Directors
Chartered Accountants Gallops Enterprise Limited
FRN: 126173W
Nikhil Maknija Balram Padhiyar Pooja Patel
Partner Managing Director Director .
M.No.: 176178 DIN: 01812132 DIN: 02233585 -
UDIN: 25176178BMMBCF7282
Payal Banwari Nitin Solanki
CS CFO
PAN: CQDPB3242E PAN: FTEPS9311E
Date: 16.05.2025 Date: 16.05.2025
Place: Ahmedabad Place: Ahmedabad
|