(a) Provisions
A provision is recognized when the company has a present obligation as a result of past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present
value and are determined based on the best estimate required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.
(b) Contingent Liabilities
A contingent liability is a possible obligation that arises from 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. A contingent liability also arises in extremely rare cases where there is a
liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a
contingent liability but discloses its existence in the financial statements.
The Company is a waste management agency and provides variety of waste management services including
sale of recycled goods, EPR, ESG services etc. After taking into account the nature of product and services
and the differing risk and returns on such products and services it comes to conclusion that it is operating only
in one segment of waste management. Accordingly, Segment reporting is not applicable to the company
outlined in Accounting Standard 17.
r. The company does not have any Benami property, where any proceeding has been initiated or pending against
the company for holding any Benami property.
s. The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
t. There are no transaction with the companies whose name struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956 during the period covered under these financial statements.
u. The Company has not been declared willful defaulter by any bank or financial institution or government or any
government authority.
v. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any
other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity
(“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall
lend or invest in party identified by or on behalf of the Company ("Ultimate Beneficiaries").
Moreover, the Company has not received any fund from any party ("Funding Party") with the understanding that
the Company shall whether, directly or indirectly lend or invest in other persons or entity identified by or on
behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.
w. The company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses.
x. The Company has not 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, search or survey or any other relevant provisions of the Income Tax Act, 1961).
y. There has been no changes in the accounting policies during the period covered under the financial
statements.
z. Previous Year’s figures have been regrouped/rearranged wherever necessary to conform to the figures for the
current year.
za.There has been no qualifications in the independent auditor's report during the period covered under the
financial statements.
AS PER OUR REPORT OF EVEN DATE FOR AND ON BEHALF OF THE BOARD
FOR RAJIV MEHROTRA AND ASSOCIATES 0F DIRECTORS 0F
„„. _____ . . „1TO GEM ENVIRO MANAGEMENT LIMITED
CHARTERED ACCOUNTANTS
FIRM REG.NO.002253C
Sd/- Sd/- Sd/-
SHIVANIYADAV DINESH PAREEKH SACHIN SHARMA
(PARTNER) (DIRECTOR) (MANAGING DIRECTOR)
M.NO. 451408 (DIN: 00629464) (DIN: 05281526)
UDIN:25451408BMKZKD5306
KANPUR, Sd/“ Sd/“
12TH DAY OF MAY 2025 BHUBANESH PINANI TRIPTIGOYAL
(CHIEF FINANCIAL OFFICER) (COMPANY SECRETARY AND
(PAN- DIWPP4148D) COMPLIANCE OFFICER)
(M.N0.ACS73180)
NEW DELHI,
12th DAY OF MAY 2025
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