j) Provision, Contingent Liabilities & Contingent Assets:
A provision is recognized when an enterprise has a present obligation as result of past
event(s) and it is probable that a outflow of resources embodying economic benefits will be
required to settle the obligation(s), in respect of which a reliable estimate can be made for
the amount of obligation. Contingent Liabilities, if material, are disclosed by way of notes.
Contingent Assets are not recognized or disclosed in the financial statements.
k) Contingencies and events occurring after the balance sheet date:
Event occurring after the date of the Balance sheet, which provide further evidence of
conditions that existed at the Balance sheet or that arose subsequently, are considered up to
the date of approval of accounts by the Board of Directors, where material.
As on the end of year, Comany do not have any outstanding on Inland bill discounting facility extended by ICICI Bank however Company has availed Cash
Credit Facility from ICICI Bank but not having any outstanding limit as on the year end. Total Sanctioned Limit Fund Based is Rs. 1000.00 Lakhs, and rate
of Interest is REPO 6.50% 2.60%. The Credit Facility is primarily secured by Hypothication Books debts and Stock. The Credit facility is having Following
Collateral Securities as under -:
1. Unit No 505, Admeasuring 1507 Sq Feet carpet Area, Fifth Floor, Ackruti Star, Central Raod, MIDC Road, Andheri East, Mumbai.
2. Unit No 118 and 119, Admeasuring 440 Sq feet each Sq Feet carpet Area, first Floor, Ackruti Star. Central Raod. MIDC Road, Andheri East, Mumbai.
3. Property 3- Flat No. 2102/21- C.Rustomjee Seasons CHS, Opp. Jade Garden, Nanasaheb Dharmadhikari Marg, MIG Colony BKC, Mumbai - Maharashtra,
India. 400051
4. Flat No. AS03 & AS04, plot no.Dl, Centrum Business Square, Wagle Estate, Thane- Maharashtra-400604 as per sanction letter dated May 16th, 2024.
5. ICICI Bank Limits are further secured by Personal guarantee of Mr. Venu Gopal Peruri, Promoter of the Company.
32 Slock, and book debt siatement/Rei&rns submitted to working capital! lender ft mi having any material differences of
unexplored nature*
33 There Is 47,614.22 (Rs. In Thousands) capital' work in progress as on the end of year. It disclosed as per Schedule 111
34 During the y ear or as on the end of FY 2023-21 there is no proceeding Instated or pending against the company for holding <
Benimi Property as per the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the foies made thereunder. Uv;t re
no disclosure M required by schedule 10 h given.
3 3 During the year or as m the cod of FY 2023-24. the Company has not been declared os willful defaulter,
36 Various Financial Ratio, along with details of Numerator and denominator etc, and the reason for deviation more than 25?" os
compared to previous: year has been disclosed InAnnesuro A attached
117 As tw the 31st March 2624, (here is no charge pending for creation except Vochile Loan taken during the FY d*>21*22 or ffc.
mmims,
38 interest on loans and advances arc accounted on mercantile basis, However company do not charge interest on loan given to
employees as per its HB Policy. Related patty transaction is as per the attachment
39 Related par ty and t? a reactions with them has been disclosed in Amiexure U attached
40 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign
entitles(intermedlarles), with the understanding that the Intermediary shall;
i. Directly or Indirectly lend or Invest In other persons or entitles 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
41 The Company has not received any funds from any person(s) or entity(les), 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 to or on behalf of the Ultimate Beneficiaries.
42 The Company does not have any transactions which is not recorded in the books of accounts but 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)
43 Additional liabilities, if any, arising pursuant to respective assessment year under various fiscal statutes, shall be accounted for
in the year of assessment.
44 Figures have been rounded off to the multiple of thousands. Previous year’s figures have been regrouped, recast and rearranged
wherever necessary to make them comparable with the current year figures.
As per our report of even date
For R K Jagetiya & Co. For and on behalf of the board of directors
Chartered Accountants Meta Infotech Limited
ICAI F.R.No. 146264W
JageHya ^V6264'/i#
I Proprietor *&?£*"---Venufcbpal Pertfrl Ý^Mohd Laeek Golandaz
M.No.: 134691 Director^. Director
Date:- 27th September, 2024 DIN - 01179369 DIN No.: 07937438
Place:- Mumbai Date:- 27th September, 2024
UDIN ! 3>lf I AJ) H. Cjj !> }_Place:- Mumbai _
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