2.19 Provision, Contingencies and Commitments:
The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists and it is
probable that an outflow of resources embodying economic benefits will be required to settle such obligation and the amount of
such obligation can be reliably estimated.
If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as
a finance cost.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably
will not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured
reliably When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying
economic benefits is remote, no provision or disclosure is made.
Commitments are future liabilities for the estimated amount of contracts remaining to be executed on capital account and not
provided for Property Plant and Equipment (net of advances).
2.20 Leases :
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception
of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or
assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.
Company as a lessor:
Leases in which the Company does not transfer substantially all the risk and rewards incidental to ownership of an asset are
classified as operating leases. Rental income arising is accounted on a straight-line basis over the lease term.
Company as a lessee:
I. Right-of-use assets
The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
II. Lease Liabilities
At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase
option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease
term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index
or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or
condition that triggers the payment occurs.
In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable.
After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for
the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change
in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or
rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.
2.21 Segment Reporting:
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision
Maker (CODM) of the Company. The CODM is responsible for allocating resources and assessing performance of the operating
segments of the Company. The company’s chief operating decision maker is the Managing Director.
2.22 Earnings per share:
Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the
weighted average number of equity shares outstanding during the year.
2.23 Cash Flow Statement:
Cash Flow statement is 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.
2.24 Cash and Cash Equivalents:
Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand
deposits with banks where the maturity is three months or less and other short term highly liquid investments.
2.25 Non Current Asset Held for Sale
Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered
principally through a sale (rather than through continuing use) when the asset (or disposal group) is available for immediate sale in
its present condition subject only to terms that are usual and customary for sale of such asset (or disposal group) and the sale is
highly probable and is expected to qualify for recognition as a completed sale within one year from the date of classification.
Non-current assets classified as held for sale are measured at the lower of their carrying amount and fair value less costs to
sell. Costs to sell are the incremental costs directly attributable to the disposal of an asset, excluding finance costs and income
tax expense.
The criteria for held for sale classification is regarded as met only when the sale is highly probable, and the asset is available for
immediate sale in its present condition. Actions required to complete the sale/ distribution should indicate that it is unlikely that
significant changes to the sale will be made or that the decision to sell will be withdrawn.
The Company treats sale of the asset to be highly probable when:
Q The appropriate level of management is committed to a plan to sell the asset,
Q An active programme to locate a buyer and complete the plan has been initiated (if applicable),
Q The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value,
Q The sale is expected to qualify for recognition as a completed sale within one year from the date of classification, and
Q Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the
plan will be withdrawn.
Property, plant and equipment and intangible are not depreciated, or amortised assets once classified as held for sale.
Assets and liabilities classified as held for sale are presented separately from other items in the Balance Sheet.
2.26 Recent new Accounting Pronouncements:
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 notified the Companies
(Indian Accounting Standards) Amendment Rules, 2025 applicable to the company w.e.f. 1st April, 2025.
(i) Amendments to Ind AS 21 - Lack of exchangeability
The amendment requires the Effects of Changes in Foreign Exchange Rates to specify how an entity should assess
whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking.
The amendments also require disclosure of information that enables users of its financial statements to understand how the
currency not being exchangeable into the other currency affects, or is expected to affect, the entity’s financial performance,
financial position and cash flows.
The amendments are effective for annual reporting periods beginning on or after 1st April 2025. When applying the
amendments, an entity cannot restate comparative information.
The amendments do not have a material impact on the companies financial statements.
(ii) Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Non-current Liabilities
with Covenants
In August 2025, the MCA notified amendments to paragraphs 69 to 76 of Ind AS 1 to specify the requirements for classifying
liabilities as current or non-current. The amendments clarify:
Q What is meant by a right to defer settlement
Q That a right to defer must exist at the end of the reporting period
Q That classification is unaffected by the likelihood that an entity will exercise its deferral right
Q That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability
not impact its classification
In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is
classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within
twelve months.
If there is a breach of a material covenant of a long term loan arrangement on or before the end of the reporting period,
resulting in the liability becoming payable on demand as at the reporting date, and the lender agrees—after the reporting
period but before the financial statements are approved for issue—not to demand repayment for at least 12 months as a
consequence of the breach, this shall be treated as an adjusting event. Accordingly, the entity is not required to classify the
liability as current.
The amendments are effective for annual reporting periods beginning on or after 1 April 2025 retrospectively in accordance
with Ind AS 8.
(iii) Amendments to Ind AS 7 and Ind AS 107 - Supplier Finance Arrangements
In August 2025, the MCA notified amendments to Ind AS 7 Statement of Cash Flows and Ind AS 107 Financial Instruments:
Disclosures to clarify the characteristics of supplier finance arrangements and require additional disclosure of such
arrangements. The disclosure requirements in the amendments are intended to assist users of financial statements in
understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk.
The Group has considered and applied these amendments. The accounting policy for supplier finance arrangements is
disclosed in Note No. 2.12(c), and the related disclosures are presented in Note No. 36(B)(ii).
(iv) International Tax Reform-Pillar Two Model Rules - Amendments to Ind AS 12
In August 2025, the MCA notified amendments to Ind AS 12 Income Taxes in response to the OECD’s BEPS Pillar Two rules
and include:
•A mandatory temporary exception to the recognition and disclosure of deferred taxes arising from the jurisdictional
implementation of the Pillar Two model rules; and
•Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure
to Pillar Two income taxes arising from that legislation, particularly before its effective date.
The mandatory temporary exception - the use of which is required to be disclosed - applies immediately. The remaining
disclosure requirements apply for annual reporting periods beginning on or after 1 April 2025, but not for any interim periods
ending on or before 31 March 2026.
The amendments had no impact on the group’s financial statements as the group is not in scope of the Pillar Two model rules
2.27 Events after reporting date:
Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of the reporting period,
the impact of such events is adjusted within the standalone financial statements. Otherwise, events after the Balance Sheet date of
material size or nature are only disclosed, there were no subsequent event to be reported.
General Reserve
General reserve is created from time to time by way of transfer profits from retained earning for appropriation purpose.
Securities premium
Securities premium reserve is used to record premium on issue of shares. This reserve is utilised as per the provisions of the Companies
Act, 2013.
Retained Earnings
Retained earnings are the profit/ (loss) that the Company has earned/ incurred till date less any transfer to general reserve, dividends or
other distribution paid to Shareholders. Retained earnings include re-measurement loss/ (gain) on defined benefit plans (net of taxes)
that will not be reclassified to Statement of Profit and Loss.
Note:
(i) Borrowings are secured against Inventory, Book Debts, Plant and Machinery, land and Fixed Deposits held in the name of company.
(ii) All the above credit facilities are guaranteed by Mr. Prahaladbhai S. Patel, Mrs. Shilpaben P Patel, and Ms. Pooja P Patel, and secured
against collateral securities held in the name of company and Mr. Prahaladbhai S. Patel.
(iii) Funds raised on short term basis have not been utilised for long term purposes .
(iv) Borrowed funds were applied for the purpose for which the loans were obtained.
(v) Bank returns / stock statements filed by the Company with its bankers or financial institutions are in agreement with books of account.
(vi) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority
(vii) The Company do not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.
[B] Defined benefit plan:
The Company has a defined benefit gratuity plan in India (partially funded) for employees,who have completed five years or more
of service is entitled to grautity on termination of their employment at 15 days last drawn salary for each completed year of service.
Further, the plan requires contributions to be made to a separately administered fund. The fund is managed by a trust which is
governed by the Board of Trustees. The Board of Trustees are responsible for the administration of the plan assets and for the
definition of the investment strategy.
Gratuity is a defined benefit plan and company is exposed to the Following Risks:
Investment risk:
The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market
yields at the end of the reporting period on government bonds. If the return on plan asset is below this rate, it will create a plan deficit.
Currently, for the plan in India, it has a relatively balanced mix of investments in government securities, and other debt instruments.
Interest risk:
A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability requiring higher provision. A
fall in the discount rate generally increases the mark to market value of the assets depending on the duration of asset.
Longevity risk:
Since the benefits under the plan is not payable for life time and payable till retirement age only plan does not have any longevity risk.
Salary risk:
The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase
in the salary of the members more than assumed level will increase the plan’s liability
Liquidity Risk:
This is the risk that the Company is notable to meet the short-term gratuity payouts.This may arise due to nonavailabilty of enough
cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.
Demographic Risk:
The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of
actual experience turning out to be worse compared to the assumption.
Regulatory Risk:
Gratuity benefit is paid in accordance with the requirements of Chapter V (Gratuity)of the Code on Social Security, 2020 (as
amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts(e.g.Increase in the maximum
limit on gratuity of H20,00,000).
Fair value of financial assets and financial liabilities measured at amortised cost.
Financial Assets
The carrying amounts of trade receivables, loans, advances, cash and other bank balances are considered to be the same as their fair
values due to their short term nature. The carrying amounts of long term loans given with fixed rate of interest are considered at fair value.
Financial Liabilities
The carrying amount of trade and other payables are considered to be the same as their fair values due to their short term nature.The
carrying amonts of borrowings with floating rate of interest are considered to be close to fair value.
The primary objective of capital management of the Company is to safeguard its ability to continue as a going concern and to
maximise Shareholder value. The Company monitors capital using Adjusted Debt-Equity ratio which is total debt reduced by
cash & cash equivalents divided by total equity For the purposes of capital management, the Company considers the following
components of its Balance Sheet to manage capital: Total equity includes General reserve, Retained earnings, Share capital and
Security premium. Total debt includes current debt plus non-current debt.
36. Financial risk management
Risk management framework
The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management
framework. The Board oversee the management of these financial risks through its Risk Management Committee as per Company’s
existing policy
The Company’s risk management policies are established to identify and analyse the risks faced by the Company to set appropriate
risk limits and controls and to monitor risks. Risk management policies and systems are reviewed regularly to reflect changes in
market conditions and the Company’s activities.
The audit committee oversees how the management monitors compliance with the Company’s risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company The audit
committee is assisted by internal audit. Internal audit undertakes both regular and ad hoc review of risk management controls and
procedures, the results of which are reported to the audit committee.
The Company has exposure to the following risks arising from financial instruments:
A) Credit risk;
B) Liquidity risk;
C) Market risk;
D) Currency risk; and
E) Interest rate risk
A. Credit risk
Trade Receivable
The Company’s customer profile include a mix of customers - government, government residential, industrial, institutional and
private sector residential. Credit risk arising from trade receivables is managed in accordance with the Company’s established
policy procedures and control relating to customer credit risk management. General payment terms include mobilisation
advance, monthly progress payments with a credit period ranging from immediate payment to 120 days and certain retention
money to be released at the end of the project as per the relevant contract terms. In certain contracts, short term advances are
received before the performance obligation is satisfied. In some cases, retentions are substituted with bank guarantees.
Concentrations of Credit Risk form part of Credit Risk
During the year ended March 31, 2026, sales to a customer/group of customers approximated H91,953.14 Lakhs (or 30.76% of
revenue from operations) and during the year ended March 31, 2025, sales to a customer/group of customers approximated
H30,460.45 Lakhs (or 12.34% of revenue from operations). Accounts receivable from a customer approximated H25,278.41
Lakhs (or 28.84% of total receivables) at March 31, 2026 and H9,847.63 Lakhs (or 1792% of total receivables) at March 31,2025.
A loss of this customer could significantly affect the operating result or cash flow of the Company.
Other financial assets
Contract Assets
A contract asset is Company’s right to consideration for work completed but not billed at the reporting date and a right to
consideration that is conditioned on achievement of milestone specified in the contract excluding any amounts presented as a
receivable. Apart from the provision recognised, the Group does not perceive any credit risk pertaining to accrued value of work
done and amount due on account of construction contracts.
Other than Contract Assets
The Company maintains exposure in cash and cash equivalents, term deposits with banks and loans to subsidiary companies.
The Company has diversified portfolio of investment with various number of counterparties which have secure credit ratings
hence the risk is reduced. Cumulative allocation limits are set for each category of asset class. Credit limits and concentration of
exposures are actively monitored by the finance department of the Company.
C Market risk
Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices. It will affect
the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to
manage and control market risk exposures within acceptable parameters, while optimising the return.
D Currency risk
The Company is exposed to currency risk to the extent that there is a mismatch between the currencies in which sales and
purchases are denominated. The functional currency for the Company is INR. The currencies in which these transactions are
primarily denominated is US dollars.
The carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities at the end of
the reporting period are as follows:
Foreign currency sensitivity analysis
The Company is mainly exposed to the currency : USD, EURO & SGD
The following table details the Company’s sensitivity to a 5% increase and decrease in the Rupee against the relevant foreign
currencies. 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and
represents management’s assessment of the reasonably possible change in foreign exchange rates. This is mainly attributable
to the net exposure outstanding on receivables or payables in the Company at the end of the reporting period. The sensitivity
analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period end
for a 5% change in foreign currency rate. A positive number below indicates an increase in the profit or equity where the Rupee
strengthens by 5% against the relevant currency. For a 5% weakening of the Rupee against the relevant currency, there would
be a comparable impact on the profit or equity, and the balances below would be negative.
A contract asset is Company’s right to consideration for work completed but not billed at the reporting date and a right to
consideration that is conditioned on achievement of milestone specified in the contract excluding any amounts presented as a
receivable. The contract assets are transferred to receivables when the rights become unconditional. This usually occurs when
the Company issues an invoice to the customer or milestones are achieved as specified in the contract. The contract liabilities
primarily relate to the advance consideration received from customers for construction for which revenue is recognised
over time.
Amounts due from contract customers represents the gross unbilled amount expected to be collected from customers for
contract work performed till date. It is measured at cost plus profit recognised till date less progress billings and recognised
losses when incurred.
Amounts due to contract customers represents the excess of progressive billing over the revenue recognised (cost plus
attributable profits) for the contract work performed till date.
Note:
(i) Decrease in Net Contract Balance is mainly due to higher progress bills raised as compared to revenue recognition
in current year whereas, increase in Net Contract Balance is mainly due to higher revenue recognition as compared to
progress bills raised in previous year.
(c) Movement of Expected Credit Loss during the year :
In March 2026, H1,446.81 Lakhs (March 2025, H984.82 Lakhs) and H3,052.49 Lakhs (March 2025, H358.98 Lakhs) was recognised
as provision for expected credit losses on Trade Receivables and Amount due from customers (Unbilled Revenue) respectively.
(d) Performance obligation:
The Company recognises revenue from contracts with customers when it satisfies a performance obligation by transferring
promised good or service to a customer. The revenue is recognised to the extent of transaction price allocated to the
performance obligation satisfied. Performance obligation is satisfied over time when the transfer of control of asset (good or
service) to a customer is done over time and in other cases, performance obligation is satisfied at a point in time. For performance
obligation satisfied over time, the revenue recognition is done by measuring the progress towards complete satisfaction of
performance obligation.
For contracts where the aggregate of contract cost incurred to date plus recognised profits (or minus recognised losses as the
case may be) exceeds the progress billing, the surplus is shown as contract asset and termed as “Due from customers”. For
contracts where progress billing exceeds the aggregate of contract costs incurred to-date plus recognised profits (or minus
recognised losses, as the case may be), the surplus is shown as contract liability and termed as “Due to customers”. Amounts
received before the related work is performed are disclosed in the Balance Sheet as contract liability and termed as “Advances
from customer”. The amounts billed on customer for work performed and are unconditionally due for payment i.e. only passage
of time is required before payment falls due, are disclosed in the Balance Sheet as trade receivables. The amount of retention
money held by the customers pending completion of performance milestone is disclosed as part of contract asset and is
reclassified as trade receivables when it becomes due for payment.
39. Revenue from contracts with customers (Disclosure as per Ind AS 115) (contd.)
The aggregate value of performance obligations that are completely or partially unsatisfied as at 31 March 2026 is H12,62,996
Lakhs. The revenue recognition mainly depends on meeting the delivery schedules, contractual terms and conditions with
customers, availability of customer sites, changes in scope, variation in prices etc. In view of these, it is not practical to define
the accurate percentage of conversion to revenue on yearly basis. However, a tentative bifurcation of remaining performance
obligation for upcoming financial years are as follows :
(i) Amounts unpaid to micro and small enterprises on account of retention money has not been considered for the purpose of
interest calculations.
(ii) Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of
information collected by the Management.
41. Segment Information:
The company is engaged in construction project activities. Considering the nature of company’s business and operations as well as
reviews of operating results by the Chief Operating Decision Makers to make decisions about resource allocation and performance
allocation and performance measurement, the company has identified construction project activitie as only reportable segment in
accordance with the requirements of Ind AS 108 operating segment.All revenue and non current assets are geographically in India.
47. Impairment reversal on investment in subsidiary
The Company holds investment in its wholly owned subsidiary. In earlier years, an impairment loss was recognised on such
investment as the recoverable amount was lower than its carrying amount.
During the financial year 2025-26, the management has reassessed the recoverable amount of the investment in accordance with
Ind AS 36. The assessment is based on revised business projections of the subsidiary reflecting improved operational performance
and increased order inflows/contracts secured during the year.
The recoverable amount has been determined based on Value in Use (VIU) using discounted cash flow projections over an
appropriate forecast period.
Based on the above evaluation, the recoverable amount of the investment exceeds its carrying amount as at the reporting date.
Accordingly, Reversal of impairment is required in the current year.
48. Code on Social Security:
The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four Labour Codes,
which were made effective from November 21, 2025. The corresponding supporting rules under these codes are yet to be
fully notified.
Based on the best available information and estimates, the Company has assessed the impact of implementation of the Labour
Codes on its defined benefit obligations. Accordingly, the impact of such implementation has been recognised in the financial
statements as employee benefit expense during the year ended March 31, 2026.
The Company continues to monitor the finalisation of Central and State Rules, as well as further clarifications from the Government
on various aspects of the Labour Codes and will recognise the consequential impact, if any, based on such developments.
49. Events after the reporting period:
The Company evaluates events and transactions that occur subsequent to the Balance Sheet date but prior to the approval of the
financial statement to determine the necessity for recognition and reporting of any of these events and transactions in the financial
statements as of 30th April, 2026 other than those disclosed and adjusted elsewhere in these financial statements, there were no
subsequent event to be reported.
50. Approval of Financial Statements:
The financial statements are approved for issue by the Audit Committee and Board of Directors at their meetings held on April 30,
2026. The shareholders’ of the company have power to amend the financial statement at the ensuing AGM.
51. Transactions with Struck off companies:
The Company does not have any transactions with companies struck-off under Section 248 of the Companies Act, 2013 or Section
560 of Companies Act, 1956.
52. Statutory Information/compliance:
(i) 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 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.)
(ii) The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year
(iii) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act,1988 (45 of 1988) and rules made thereunder
(iv) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017
(v) The Company has not entered with any Scheme(s) of arrangement in terms of Sections 230 to 237 of the Companies Act, 2013.
(vi) The Company has not advanced or loaned 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.
(vii) 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.
(viii) The Company has been maintaining its books of accounts in the SAP which has feature of recording audit trail of each and
every transactions, creating an edit log of each change made in books of account along with the data when such changes were
made and ensuring that the audit trail cannot be disabled, throughout the year as required by proviso to sub rule (1) of rule 3
of The Companies (Accounts) Rules, 2014 known as the Companies (Accounts) Amendment Rules, 2021. The Company has
preserved Audit trail as per statutory requirements for record retention.
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