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 will be required to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation.
Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the
reporting date. These are reviewed at each reporting date and adjusted to reflect the current best estimates.
E Contingent liabilities and Assets
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed 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. Where there is a possible obligation or a
present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
Contingent assets are not recognised in the financial statements if the inflow of the economic benefit is probable than it is disclosed in
the financial statements.
F Cash and cash equivalents
Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short-term investments
with an original maturity of three months or less.
Tax expense comprises current and deferred tax. Current income-tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Income-tax Act, 1961. The tax rates and tax laws used to compute the amount are those that are
enacted or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of temporary timing differences between taxable income and accounting income originating
during the current year and reversal of timing differences for the earlier years. Deferred tax is measured using the tax rates and the
tax laws enacted or substantively enacted at the reporting date.
Deferred tax liabilities are recognized for all taxable temporary timing differences. Deferred tax assets are recognized for deductible
temporary timing differences only to the extent that there is reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
At each reporting date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax asset to
the extent that it has become reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
The carrying amount of deferred tax assets are reviewed at each reporting date. The Company writesdown the carrying amount of
deferred tax asset to the extent that it is no longer reasonably certain or virtually certain, as the case may be, that sufficient future
taxable income will be available against which deferred tax asset can be realized. Any such write-down is reversed to the extent that it
becomes reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available.
Minimum Alternate Tax
Minimum Alternate Tax credit is recognised as deferred tax asset only when and to the extent there is convincing evidence that the
Company will pay normal income tax during the specified period. Such asset is reviewed at each balance sheet date and the carrying
amount of the MAT credit asset is written down to the extent there is no longer a convincing evidence to the effect that the Company
will pay normal income tax during the specified period.
The main business of the Company is to provide finance and all other activities of the Company revolve around the main business.
1 Accordingly, the Company does not have more than one segment for reporting as per the Ind AS 108 "Segment Reporting”.
The figures of the earlier periods have been regrouped/reclassified whenever necessary to make them comparable with those of the
2 current period
The Statutory Auditors of the Company have carried out a audited results for the quarter and year ended March 31, 2024 in
compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Financial Results
have been Review by the Audit Committee and thereafter approved by the Board of Directors at their respective meeting held on May
3 31, 2024._
For and on behalf of the Board of Directors
For Regal Entertainment and Consultancy Ltd
Sd/-
Place : Mumbai Shreyash Chaturvedi
Date : May 31, 2024 Managing Director
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