(O) Provisions:
• A provision is recognized when there exists a present obligation as a result of past events
and 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 present value and are determined based on
best estimates 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.
(P) Contingent liabilities:
• A contingent liability is a possible obligation that arises from past events whose existence
will be confirmed only 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.
(Q) Cash and cash equivalent :
• Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank
and in hand and short-term deposits with banks with an original maturity of three
months or less.
(R) Other remarks :
• The Company has recognized income from profit/(Loss) sharing arrangements with a
profit entitlement of a specified percentage as per the agreed agreement. Management
has concluded that GST is not applicable to this income based on the nature of the
contractual arrangement and the relevant legal provisions. We recommend obtaining a
legal opinion on GST applicability to strengthen their position.
Basic EPS amounts are calculated by dividing the profit/(loss) for the period attributable to equity holders by the weighted
average number of equity shares outstanding during the Period.
Diluted EPS amounts are calculated by dividing the profit/(loss) attributable to equity holders by the weighted average
number of equity shares outstanding during the period plus the weighted average number of equity shares that would be
issued on conversion of all the dilutive potential equity shares into equity shares.
Note: Related party relationships as per Ind AS 24 have been identified by the management had relied upon by the auditors.
All the transactions are carried at arm's length price
Closing balances are presented net of taxes.
Terms and conditions of transactions with related parties
The transactions with related parties are in the ordinary course of business and are on terms equivalent to those that prevail
in arm's length transactions. Outstanding balances at the Period-end are unsecured and settlement occurs in cash. For the
period ended 31 March 2025, the Company has not recorded any impairment of receivables relating to amounts owed by
related parties. This assessment is undertaken each financial year through examining the financial position of the related
parties and the market in which the related parties operate.
21 Segment information
In accordance with paragraph 4 of Indian Accounting Standard (Ind AS) 108 'Operating Segments' prescribed
under Section 133 of the Act, read with Rule 7 of the Companies (Indian Accounting Standards) Rules, 2015, the
Company has no seperate segment which required to be disclosed under Ind AS 108.
22 Details of micro enterprises and small enterprises as defined under the Micro, Small and Medium Enterprises
Development (MSMED) Act, 2006
The Company did not have any transactions with Small Scale Industrial ('SME's') Undertakings during the year
ended March 31, 2025 and hence there are no amounts due to such undertakings. The identification of SME's
undertakings is based on the management's knowledge of their status.
The Company has not received any information from "suppliers" regarding their status under the Micro, Small
and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at
the year ended together with interest paid / payable as required under the said Act have not been furnished.
Employee Benefits -
25 Retirement benefits
(a) Defined Contribution Plan:
An entity is not participating in any employer defined benefit plan that does not prepare plan valuations on an
Ind AS 19 basis. Company not having employee who served from more than 5 years.
26 Financial instruments - fair value measurements
Some of the Company's financial assets and financial liabilities are measured at fair value at the end of each
reporting period. The following table gives information about how the fair values of these financial assets and
financial liabilities are determined (in particular the valuation techniques and inputs used).
Fair value hierarchy
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 lowest level 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 — Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or indirectly observable.
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable.
The Company has assessed that trade receivables, cash and cash equivalents, other financial assets, trade
payables and other financial liabilities approximate their carrying amounts largely due to the short term nature of
the instruments. Long term Borrowings are evaluated based on parameters such as interest rate and risk
characteristic of financial project. Based on the evaluation, no impact has been identified.
b) As per the information and explanations to us The Company do not have any transactions with companies struck off.
c) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial Period.
d) The Company has not entered into any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the Period 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)
e) The Company has not been declared wilful defaulter by any bank or financial institution or other lender.
f) The Company does not have any Intangible Assets, thus, disclosures relating to revaluation of Intangible Assets is not
applicable.
g) The Company has not revalued its property, Plant and Equipment (including Right of use Assets), thus valuation by a
registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable.
h) The Company has not advanced or loaned or invested funds to any other person or entity, including foreign entities
(Intermediaries) with the understanding 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.
i) The Company have 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.
As per our attached report of even date For and on Behalf of the Board of directors of
For M/s. M N C A & ASSOCIATES MID EAST PORTFOLIO MANAGEMENT LIMITED
Chartered Accountants
Firm Registration No. 100586W
Sd/- Sd/- Sd/-
Nishit Pabari, FCA Kishor A. Shah Jyoti K. Shah
Partner (Director) (Director)
Membership No. 149385 DIN:00015575 DIN:00020912
UDIN: 25149385BMIPXL5867
For Mid East Portfolio Management Limited
Sd/-
Ms. Payal Dilip Jain
(Company Secretary & Compliance Officer)
Place :Mumbai Membership No. ICSI (No. 60007)
Date : 19th April, 2025
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