11. Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)
Provisions are recognized only when there is a present obligation as a result of past
events and when a reliable estimate of the amount of the obligation can be made.
There is no contingent Liability as on Balance Sheet date
Contingent assets are not recognized in the financial statement since this may result in the
recognition of the income that may never be realized.
General:
Except wherever stated, accounting policies are consistent with the generally accepted
accounting principles and have been consistently applied.
(B) Notes on Financial Statements
1. The SSI status of the creditors is not known to the Company; hence the information is not
given.
2. Salaries includes directors remuneration on account of salary Rs.NIL /- (Previous Year
Rs.1,80,000 /-)
3. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been
taken at their book value subject to confirmation and reconciliation.
4. In the opinion of the Directors, Current Assets, Loans and Advances shown in th e
Balance Sheet shall have a Value on realization in the ordinary course of business at
least equal to the amount at which they are stated.
5. The Company has identified that there is no material impairment of assets and as such
no provision is required in terms of Accounting Standard-28 issued by the Institute of
Chartered Accountants of India.
7. Loans and Advances are considered good in respect of which company does not hold
any security other than the personal guarantee of persons.
8. No provision for retirement benefits has been made, as there is no policy of the Company
in this regard.
9. It is not possible for us to verify that cheque or DD are account payee or not,as copy of
cheque and DD is not in possession of assesse.
10. Since Taxpayer is not in position to Provide complete detail as required and we are also
not in position to verify its correctness and completeness of reporting. Hence Information
Pertaining to GST has not been Compiled by the taxpayer in the mode and manner
mandated by clause 44 and we are also not able to form any opinion in this regard.
11. In the course of our audit, for the purpose of verifying disallowances undersection 43B(h)
of the Income-tax Act, 1961 as per clause 22, we have relied on the MSME classification
provided by the auditee and the representations made by the management. We have not
independently verified the accuracy of the MSME classification. Consequently, our
verification of the compliance with section 43B(h) is based on the information and
representations provided by the auditee's management. Our opinion is thus dependent on
the correctness of these classifications and representations
16. Previous year figures have been regrouped/rearranged wherever necessary.
Additional Regulatory Information
17. The Company does not have any Benami property, where any proceeding has been initiated or
pending against the Company for holding any Benami property.
18. The Company has not been declared as a willful defaulter by any lender who has powers to
declare a company as a willful defaulter at any time during the financial year or after the end of
reporting period but before the date when the financial statements are approved.
19. The Company does not have any transactions with struck-off companies.
20. The Company does not have any charges or satisfaction which is yet to be registered with the
Registrar of Companies (ROC) beyond the statutory period.
21. The Company has compiled with the number of layers prescribed under clause (87) of section 2
of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.
22. The Company has not received any fund from any person(s) or entity(is), 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.
23. 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).
24. The Company has not traded or invested in Crypto currency or Virtual Currency during the
financial year
Signature to notes 1 to 20
In terms of Our Separate Audit Report of Even Date Attached.
For H C O & CO. For SBL INFRATECH LIMITED
Sd/- Sd/-
MD DIRECTOR CFO
Chartered Accountants ankit sharma rohan jagdipbhai
vora
Sd/-
(NEERAJ BANSAL)
Partner
Membership No. 400248
Registration No. 0001087C
Place:- DELHI
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