2.1 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.
Where the company expects some or all of a provision to be reimbursed, the reimbursement is recognized as a separate
asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the
statement of profit and loss net of any reimbursement.
2.2 Cash and Cash Equivalents
Cash and Cash Equivalents for the purposes of cash flow statement comprise cash at bank, cash in hand and short term
investments with an original maturity of three months or less.
2.3 Operating Leases
As a lessee:
Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Company, as
lessee, are classified as operating leases. Payments made under operating leases are charged to the Statement of Profit
and Loss on a straight-line basis over the period of the lease unless the payments are structured to increase in line with
expected general inflation to compensate for the Company's expected inflationary cost increases.
2.4 Miscellaneous Expenditure :
Preliminary expenditure is written off in the year in which it is incurred, in accordance with provision of Indian
Accounting Standard - 38 "Intangible Assets".
27. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006
Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and
Medium Enterprises Development ('MSMED') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end
together with interest paid /payable are required to be furnished.
28. While determining diminution, other than temporary, in the value of the long term quoted / unquoted investments, the strategic objective
of such investments and the asset base of the investee companies have been considered. In view thereof, the decline in the market
value of such investments is considered to be of a temporary nature.
29. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the
amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount
reasonably necessary.
31 Previous year figures
a) Figures are rounded off to nearest rupee.
b) Previous year figures have been regrouped and reclassified wherever necessary to confirm to current year's presentation.
As per our report of even date attached
For and on behalf of
For and on behalf of the Board
HIREN BUCH ASSOCIATES
Chartered Accountants Smriti Ranka Sd/-
Firm Regn. No. 116131W (DIN-00338974) Managing Director
Aditi Ranka Sd/-
(DIN-08071428) Director
Sd/-
Chandrakant Kotian J.P.Khandelwal Sd/-
Partner (DIN-00457078) Director cum CFO
Membership No. 046514
Place: Mumbai Krishna Tela Sd/-
Date: 30th May,2024 No.19780 Company Secretary
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