3.11. Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized if, as a result of a past event, the company has a present legal or constructive obligation
that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the
obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability. Provisions are determined
based on the best estimate required to settle the obligation at the balance sheet date.
Contingent liability is a possible obligation arising from past events and the existence of which will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of
the Company or a present obligation that arises from past events but is not recognized because it is not possible that
an outflow of resources embodying economic benefit will be required to settle the obligations or reliable estimate
of the amount of the obligations cannot be made. The Company discloses the existence of contingent liabilities in
Other Notes to Financial Statements.
Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of
an inflow of economic benefits. Contingent Assets are not recognized though are disclosed, where an inflow of
economic benefits is probable.
3.12. Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and item of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.
3.13. Cash and Cash Equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and cash in hand and highly liquid investments
with original maturities of three months or less that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of changes in value.
3.14. Employee Benefits
• Defined Contribution Plan: Retirement benefit in the form of provident fund is a defined contribution scheme.
The Company has no obligation other than the contribution payable to the Provident fund. Contribution payable
to the provident fund is recognized as an expenditure in the statement of profit and loss.
• Defined Benefit Plan: The Company's obligation towards gratuity, a defined benefit employee retirement scheme
is recognized on the basis of period end actuarial valuation determined under the Projected Unit Credit Method.
Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit liability and the return on plan assets (excluding amounts
included in net interest on the net defined benefit liability), are recognised immediately in the balance sheet with a
corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements
are not reclassified to profit or loss in subsequent periods.
• Compensated Absences: Short term compensated absences are provided for based on estimates. The Company
treats accumulated leave expected to be carried forward beyond twelve months as long-term employee benefit for
measurement purposes. Such long-term compensated absences are provided for based on the actuarial valuation
using the unit projected credit method at the end of each financial year.
3.15. Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.
a) Financial Assets
• Recognition and Initial Measurement:
All financial assets are initially recognised when the Company becomes a party to the contractual provisions
of the instruments. A financial asset is initially measured at fair value plus, in the case of financial assets not
recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the
financial asset.
* Classification and Subsequent Measurement:
For purposes of subsequent measurement, financial assets are classified in four categories:
> Measured at amortised cost;
> Measured at fair value through other comprehensive income (FVTOCI);
> Measured at fair value through profit or loss (FVTPL); and
> Equity Instruments measured at fair value through other comprehensive income (FVTOCI).
Financial assets are not reclassified subsequent to their initial recognition, except if and in the period the
Company changes its business model for managing financial assets.
> Measured at amortised cost (AC):
Financial assets are subsequently measured at amortised cost using the effective interest method, if
these financial assets are held within a business whose objective is to hold these assets in order to collect
contractual cash flows and the contractual terms of the financial assets give rise on specified dates to cash
flows that are solely payments of principal and interest on the principal amount outstanding. The Company
may irrevocably elect at initial recognition to classify a debt instrument that meets the amortised cost
criteria above as at FVTPL if that designation eliminates or significantly reduces an accounting mismatch
had the financial asset been measured at amortised cost.
> Measured at fair value through other comprehensive income (FVTOCI):
Financial assets are measured at fair value through other comprehensive income if these financial assets
are held within a business whose objective is achieved by both collecting contractual cash flows on
specified dates that are solely payments of principal and interest on the principal amount outstanding
and selling financial assets.
> Measured at fair value through profit and loss (FVTPL):
Financial assets are measured at fair value through profit or loss unless they are measured at amortised
cost or at fair value through other comprehensive income on initial recognition. The transaction costs
directly attributable to the acquisition of financial assets and liabilities at fair value through profit or loss
are immediately recognised in statement of profit and loss.
> Equity Instruments measured at FVTOCI:
All equity investments in scope of Ind AS - 109 are measured at fair value. Equity instruments which are,
held for trading are classified as at FVTPL. For all other equity instruments, the Company may make an
irrevocable election to present subsequent changes in the fair value in other comprehensive income. The
Company makes such election on an instrument-by-instrument basis. The classification is made on initial
recognition and is irrevocable. In case the Company decides to classify an equity instrument as at FVTOCI,
then all fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no
reclassification of the amounts from OCI to the statement of profit and loss, even on sale of investment.
* Derecognition
The Company derecognises a financial asset on trade date only when the contractual rights to the cash flows
from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of
ownership of the asset to another entity.
* Impairment of Financial Assets
The Company assesses at each date of balance sheet whether a financial asset or a group of financial assets is
impaired. Ind AS - 109 requires expected credit losses to be measured through a loss allowance. The Company
recognizes lifetime expected losses for all contract assets and/ or all trade receivables that do not constitute a
financing transaction. For all other financial assets, expected credit losses are measured at an amount equal to
the 12 month expected credit losses or at an amount equal to the life time expected credit losses if the credit
risk on the financial asset has increased significantly since initial recognition.
b) Financial Liabilities
* Recognition and Initial Measurement:
Financial liabilities are classified at initial recognition, at fair value through profit or loss, as loans and
borrowings, as payables or as derivatives, as appropriate. All financial liabilities are recognised initially at fair
value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.
* Subsequent Measurement:
Financial liabilities are measured subsequently at amortised cost or FVTPL. A financial liability is classified as
FVTPL if it is classified as held-for-trading, or it is a derivative or it is designated as such on initial recognition.
Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense,
are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using
the effective interest rate method. Interest expense and foreign exchange gains and losses are recognised in
profit or loss. Any gain or loss on derecognition is also recognised in profit or loss.
* Derecognition:
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
c) Offsetting Financial Instruments:
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally
enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the
asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events
and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of
the counterparty.
d) Derivative Financial Instruments:
The Company enters into derivative financial instruments viz. foreign exchange forward contracts, interest rate
swaps and cross currency swaps to manage its exposure to interest rate and foreign exchange rate risks. The
Company does not hold derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are
subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is
recognised in the statement of profit or loss immediately.
3.16. Measurement of Fair Values
A number of the accounting policies and disclosures of the Company require the measurement of fair values, for
both financial and non-financial assets and liabilities. Fair value is the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair
value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes
place either:
* In the principal market for the asset or liability, or
* In the absence of a principal market, in the most advantageous market for the asset or liability.
The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a
liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest. A fair value measurement of a non-financial
asset takes into account a market participant's ability to generate economic benefits by using the asset in its
highest and best use or by selling it to another market participant that would use the asset in its highest and best
use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the input that is significant to the fair value
measurement as a whole:
• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities
• Level 2 — Inputs other than quoted prices included within Level 1, that are observable for the asset or liability,
either directly or indirectly; and
• Level 3 — Inputs which are unobservable inputs for the asset or liability.
External valuers are involved for valuation of significant assets and liabilities. Involvement of external valuers is
decided by the management of the Company considering the requirements of Ind AS and selection criteria include
market knowledge, reputation, independence and whether professional standards are maintained.
3.17. Impairment of Non-Financial Assets
e) The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. An
asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value being higher of value
in use and net selling price. Value in use is computed at net present value of cash flow expected over the balance
useful life of the assets. For the purpose of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets
or group of assets (Cash Generating Units - CGU).
f) An impairment loss is recognised as an expense in the statement of profit and loss in the year in which an asset is
identified as impaired. The impairment loss recognised in earlier accounting period is reversed if there has been
an improvement in recoverable amount.
3.18. Cash dividend distribution to equity holders
The Company recognises a liability to make cash distributions to equity holders of the Company when the
distribution is authorised and the distribution is no longer at the discretion of the Company. Final dividends on
shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as
a liability on the date of declaration by the Company's Board of Directors.
3.19. Segment Reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating
decision maker. The Board of Directors of the Company has been identified as being the chief operating decision
maker. Refer note 38 for segment information presented.
3.20. Trade Receivables
Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of
business and reflects Company's unconditional right to consideration (that is, payment is due only on the passage of
time). Trade receivables are recognised initially at the transaction price as they do not contain significant financing
components. The Company holds the trade receivables with the objective of collecting the contractual cash flows
and therefore measures them subsequently at amortised cost using the effective interest method, less loss allowance.
(1) There are no projects as on the reporting period which has exceeded cost as compared to the original plan or where
completion is overdue.
(2) Including under CWIP for more than 3 years is an amount of '16.06 lakhs relating to the purchase of weaving looms
from a vendor. Since the performance criteria were not met and the machinery has not been put to use , the said loom,
have not been capitalised and continue to remain under CWIP .The Company is in the process of evaluating further
steps in relation to the same.
15.6 No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/
disinvestment as at the Balance Sheet date.
15.7 The company has neither alloted any equity shares for consideration other than cash nor has issued any bonus shares
nor has bought back any shares during the period of five years preceeding the date at which Balance Sheet is prepared.
15.8 No securities which are convertible into Equity/Preference shares have been issued by the Company during the year.
15.9 No calls are unpaid by any directors or officers of the company during the year.
15.10 On August 16,2024 , Panchjanya Distributors Private Limited has entered into a share purchase agreement with the
existing Promoters of the Company for total acquisition of 72,39,208 ( Seventy two lakhs thirty nine thousand two
hundred and eight ).equity shares constituting 67.20% of the total paid up equity and voting share capital of the
company . This transaction results in a change in control ,with Panchjanya Distributors Private limited assuming the
position of promoter in accordance with applicable regulations.
Nature & Purpose of Reserves :
a. Securities Premium Reserve : The Reserve represents the premium on issue of shares and can be utilized in accordance
with the provision of the Companies Act, 2013.
b. General Reserve : The Reserve is created by an appropriation from one component of equity ( generally retained
earnings ) to another, not being an item of Other Comprehensive Income . The same can be utilised by the company
in accordance with the provisions of the Companies Act ,2013.
c. Retained Earnings : This Reserve represents the cumulative profits of the Company and effects of Re-measurement of
defined benefit obligations . This reserve can be utilised in accordance with the provisions of the Companies Act 2013.
d. Item of other Comprehensive Income ( Re - Measurement of defined benefit plans ) : Re - Measurement,comprising
actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable ) and the return on plan assets
( excluding net interest ),is reflected immediately in the Balance Sheet with a charge or credit recognised in Other
Comprehensive Income ( OCI ) in the period in which they occur. Re - measurement recognised in OCI is reflected
immediately in retained earnings and will not be re classified to statement of Profit and Loss.
ii) Term Loan III from Canara Bank of ' 390.02 @ 9.25% interest p.a. is secured as charge over all the assets of the
Company funded by the specified Bank and subservient charge over all the current assets and movable Fixed
assets of the Company ( both present and future ) and repayable in Monthly instalments of ' 13.89 each.
iii) Term Loan from Canara Bank of ' 272.55 @ 9.25% interest p.a. is secured as charge over all the assets of the
Company funded by the specified Bank and subservient charge over all the current assets and movable Fixed
assets of the Company ( both present and future ) and repayable in Monthly instalments of ' 11.35.
iv) Term Loan -II from YES Bank of ' 296.44 @ 8.50% interest p.a. is secured as charge over all the assets of the
Company funded by the specified Bank and subservient charge over all the current assets and movable Fixed
assets of the Company ( both present and future ) and repayable in Monthly instalments of ' 10.98.
v) Vehicle loan from Bank of Baroda of ' 50.78 @ 8.75 % interest p.a. is secured as charge over vehicle financed by
it and repayable in Monthly instalments of ' 0.81
vi) Vehicle loan from ICICI Bank of ' 23.05 @ 9.15 % interest p.a. is secured as charge over vehicle financed by it
and repayable in Monthly instalments of ' 0.48
vii) Forklift loan from ICICI Bank of ' 45.02 @ 9.25 % interest p.a. is secured as charge over vehicle financed by it
and repayable in Monthly instalments of ' 0.95
viii) Equipment loan from ICICI Bank of ' 30.58 @ 9.00 % interest p.a. is secured as charge over vehicle financed by
it and repayable in Monthly instalments of ' 0.64
ix) Vehicle loan from Canara Bank of ' 49.40 @ 8.30 % interest p.a. is secured as charge over vehicle financed by it
and repayable in Monthly instalments of ' 0.78
x) Unsecured loan from Axis Bank amounting to '1,500.00 carries interest at the rate of Repo Rate plus 2.50%
per annum. Interest accrued on the loan amounts to '8.30. The loan is repayable in three equal monthly
instalments of '500.00 each
17 (b) As at March 31,2026'13,995.91 (March 31, 2025 , '8,863.49) of the total outstanding borrowings were secured by
charge on property plant & equipment, Inventories,Receivables & Current Assets.
17 (c) The Company has used borrowings from Banks and financial Institutions for the specific purpose for which it was
taken.
17 (d) No loans have been guaranteed by the directors of the Company.
17 (e) There is no default as on the balance sheet date in the repayment of borrowings and interest thereon.
17 (f) Working Capital Borrowings is secured against hypothecation of entire stocks and trade receivable together with
banks parri passu 1st charge on entire assets both present and future of the Company.
17 (g) Inter Corporate Loan of ' 1,856 Lakhs, received from the Holding Company and other Related Parties, carries
interest @ 9% p.a. and 9.5% p.a. respectively and is expected to be repaid during the next Financial Year.
17 (h) Inter Corporate Loan of ' 4,000 Lakhs, received from the Holding Company and other Related Parties, carries
interest @ 9.5% p.a. and is expected to be repaid in the Financial Year 2027-28 or in subsequent financial years
thereafter.
b) Defined Benefit Plans : Benefits are of the following types :
i) Gratuity Plan
The Company has a defined employee benefit plan in the form of gratuity. With effect from November 21, 2025,
the Payment of Gratuity Act, 1972 has been subsumed under the Code on Social Security, 2020, and accordingly,
the gratuity obligations of the Company are governed by the said Code. Every employee, who has completed five
years or more of service, is entitled to gratuity on terms not less favourable than the provisions of the Code on
Social Security, 2020.
ii) Provident Fund
Provident Fund (other than government administered) as per the provisions of Employees Provident Funds and
Miscellaneous Provisions Act, 1952.
The following tables summarize the components of net benefit expense recognized in the statement of profit and
loss and the funded status and amounts recognized in the balance sheet for Gratuity Plan.
* The Company has reviewed its actuarial provision for gratuity based on legal opinion obtained on gratuity payable
for specific segment of employees. Based on the opinion, the gratuity provision has been computed and reversal of
provision amounting to ' 300.75 Lakhs has been recorded in the books of account under the head Other Comprehensive
Income.
The management has assessed that the fair values of cash and cash equivalents, trade receivables,other current
financial assets, trade payables, short term borrowings, and other current financial liabilities approximates their
carrying amounts largely due to the short-term maturities of these instruments. The management has assessed that
the fair value of floating rate instruments approximates their carrying value.
The following methods and assumptions were used to estimate the fair values:
a) The investments being listed, the fair value has been taken at the market rates of the same on the reporting dates. They
are classified as Level 1 fair values in the fair value hierarchy.
iii) Fair Value Hierarchy
The following are the judgements and estimates made in determining the fair values of the financial instruments that
are (a) recognized and measured at fair value and (b) measured at amortized cost and for which fair value are disclosed
in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value,
the Company has classified its financial instruments into three levels of fair value measurement as prescribed under
the Ind AS 113 "Fair Value Measurement". An explanation of each level follows underneath the tables:
Fair value of the financial instruments is classified in various fair value hierarchies based on the following three
levels:
Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not
traded in an active market is determined using valuation techniques which maximize the use of observable
market data and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an
instrument are observable, the instrument is included in Level 2.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one
or more of the significant inputs is not based on observable market data, the fair value is determined using generally
accepted pricing models based on a discounted cash flow analysis, with the most significant input being the discount
rate that reflects the credit risk of counterparty. This is the case with listed instruments where market is not liquid and
for unlisted instruments.
47. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Company's activities expose it to the following risks:
a) Credit risk
b) Liquidity risk
c) Market risk
a) Credit Risk
Credit risk is the risk that counter party will not meet its obligations under a financial instruments or customer
contract leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily
trade receivables) and from its financing activities including deposits with banks and financial institutions,
investments, foreign exchange transactions and other financial instruments.
Trade receivables : Customer credit risk is managed by the Company subject to the Company's established
policy, procedures and control relating to customer credit risk management. Outstanding customer receivables
are regularly monitored and major customers are generally secured by obtaining security deposits/bank
guarantee or other forms of credit insurance.
Provision for Expected Credit loss : The requirement for impairment is analysed at each reporting date.
For impairment, individual debtors are identified and assessed specifically. The Company evaluates the
concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions
and industries and operate in largely independent markets. There has been no material default history in
the past. The Company has, however, recognized an allowance for expected credit loss against specifically
identified doubtful/disputed receivables, based on individual assessment of debtors, as disclosed in Note 12.
The maximum exposure to the credit risk at the reporting date is primarily from trade receivables.
Financial instruments and cash deposits : Credit risk from balances with banks and financial institutions
is managed by the Company's finance department in accordance with the Company's policy. Investments
of surplus funds are made only with approved counterparties and within credit limits assigned to each
counterparty. The Company's maximum exposure to credit risk for the components of the balance sheet as
at 31st March, 2026 and 31st March, 2025 is the carrying amounts as disclosed in Note 13 (Cash and Cash
Equivalents), Note 13.1 (Other Bank Balances) and Note 8 (Investments).
b) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with
its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach
to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its
liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses
or risking damage to the Company's reputation. Typically the Company ensures that it has sufficient cash
on demand to meet expected short term operational expenses. The Company's objective is to maintain a
balance between continuity of funding and flexibility through the use of bank loans/internal accruals. The
table below provides details regarding the remaining contractual maturities of significant financial liabilities
at the reporting date.
c) Market risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises four type of risks: Commodity Price Risk, Foreign Exchange Risk, Interest Rate
Risk and Other Price Risk.
1) Commodity Price Risk : The Company primarily imports raw jute, stores and spare items etc. It is exposed to commodity
price risk arising out of movement in prices of such commodities. Such risks are monitored by tracking of the prices
and are managed by entering into fixed price contracts, where considered necessary.
2) Foreign Currency Risk : The Company has Foreign Currency Exchange Risk on imports of input materials, Capital
Equipment(s) in foreign currency for its business. The Company evaluates the impact of foreign exchange rate
fluctuations by assessing its exposure to exchange rate risks. Certain transactions of the Company act as a natural
hedge as a portion of both assets and liabilities are denominated in similar foreign currencies. For the remaining
exposure to foreign exchange risk, the Company adopts a policy of selective hedging based on risk perception of the
management using derivative, wherever required, to mitigate or eliminate the risk.
The following table demonstrates the sensitivity in the US Dollars (USD); Euro (EUR) and Sterling Pound (GBP) to the
Indian Rupee with all other variables held constant.
i) Exposure to currency risk
The Company's exposure to foreign currency risk at the end of the reporting period are as follows:
The Company is exposed to risk due to interest rate fluctuation on long term borrowings. Such borrowings are based
on fixed as well as floating interest rate. Interest rate risk is determined by current market interest rates, projected
debt servicing capability and view on future interest rate. Such interest rate risk is actively evaluated and is managed
through portfolio diversification and exercise of prepayment/refinancing options where considered necessary.
Exposure to interest rate risk4) Other Price Risk
The Company's exposure to equity securities price risk arises from investments held by the Company and classified in
the Balance Sheet at Fair Value through Profit and Loss. Having regard to the nature of securities, intrinsic worth, intent
and long term nature of securities held by the Company, fluctuation in their prices are considered acceptable and do
not warrant any management.
49. LOANS OR ADVANCES (REPAYABLE ON DEMAND OR WITHOUT SPECIFYING ANY TERMS OR PERIOD OF
REPAYMENT) TO SPECIFIED PERSONS.
During the year ended March 31,2026 the Company did not provide any Loans or advances which remains outstanding
(repayable on demand or without specifying any terms or period of repayment) to specified persons (Nil as on March
31,2025).
50. WILFUL DEFAULT
The Company has not been declared any wilful default during the financial year to any of the Banks or financial
Institutions.
51. As at March 31,2026, the register of charges of the Company as available in records of the Ministry of Corporate affairs
(MCA) includes charges that were created / modified since the inception of the Company . There are certain charges
which are historic in nature and it involves practical challenges in obtaining no-objection certificates ( NOCs) from
the charge holders of such charges, despite repayment of the underlying loans. The Company is in the continuous
process of filing the charge satisfaction e-form with MCA, within the timelines, as and when it receives NOCs from the
respective charge holders.
52. RELATIONSHIP WITH STRUCK OFF COMPANIES
The Company did not have any transaction with companies struck off during the year ended March 31,2026 and also
for the year ended March 31, 2025.
53. DISCLOSURE IN RELATION TO UNDISCLOSED INCOME
The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year ended March 31,2026 and March 31, 2025 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)
54. DETAILS OF BENAMI PROPERTY HELD
The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company, during the year ended March 31, 2026 and March 31,2025 for holding any Benami property.
55. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Company's act
read with Companies ( Restriction on number of layers ) Rules, 2017.
56. The Company has not filed any scheme of Arrangements in terms of sections 230 & 237 of the Companies act 2013
with any Competent authority.
57. Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended March 31, 2026
and March 31, 2025.
58. Utilisation of Borrowed Fund & Share Premium
The 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: (a) 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 (b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
The Company has not advanced or lent or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall: (a) 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 (b)
provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
59. Audit Trail Compliance :The Company has used accounting and other business software for maintaining its books
of account, which have a feature of recording audit trail (edit log) function. This audit trail feature was operational
throughout the year for all relevant transactions recorded in the accounting software, except in respect of the payroll
management software, where the audit trail feature was not enabled in the prescribed format. The audit trail feature
has not been tampered with during the year, in respect of the softwares where it was enabled. At the database level,
the audit trail feature was not enabled to log direct changes to data. Accordingly, the Company is in the process of
enabling and strengthening the audit trail feature at the database level, and for the payroll software, to ensure full
compliance in the coming year.
60. Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. During the year ended March 31, 2026, MCA has not
notified any new standards or amendments to the existing standards applicable to the Company.
61. The Company is not a Core Investment Company as defined in the regulations made by Reserve Bank of India.
62. The Quarterly returns or statements of current assets filed by the Company are in agreement with the books of
accounts.
63. Dividend
The Board of Directors have not recommended any dividend for the financial year ended 31st March, 2026 in their
meeting held on 25th May, 2026.
64. The company has prepared business estimates and funding plan in respect of its payment of current and non-current
liabilities and based on the same the company is confident of meeting its liabilities.
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