(27) AS 29: Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognized when there is a present obligation as a result of past events and it is
probable that there will be an outflow of resources and a reliable estimation can be made. Amount
recognized as a provision is best estimate of the expenditure required to settle the present
obligation at the balance sheet date. Amount of the provision is not being discounted to its present
value. Where one or all of the expenditure required settling a provision is expected to be
reimbursed by another party, the same is recognized (Separately) only when it is virtually certain
that reimbursement will be received if the enterprises settle the obligation. Provisions are
reviewed at each balance sheet date so that amount reflects the current best estimate.
Contingent Liabilities are not recognized but are disclosed in notes on accounts, unless the
possibility of an outflow of resources embodying economic benefits is remote. Contingent assets
are neither recognized nor disclosed in the financial statements.
4.1 Term Loan referred above to the extent of :
a) Vehicle loan From SBI of Rs. 3.70 Lakh previous year ( 6.13 ) ( Including instalment due within one year) are secured against respective vehicles.
b) Vehicle loan From HDFC Bank Ltd of Rs. 30.00 Lakh previous year Nil ( Including instalment due within one year) are secured against respective vehicles.
c) Rs.Nil (P.Y. 1003.79) including current maturities of long term debts From State Bank of India are primary secured by first Hypothecation charge on entire current
assets of the company comprising of Stocks ( Present & future) lying in their office, out-lets . elsewere and including goods in transit and credit balance in their Loan
accounts, all present and future Book Debts / Receivable. Extention of Equitable Mortgage Charge on Land and Building in the name of Company situtated at plot no.4,
Sector-1, Pantnagar Industrial Area SIDCUL , Rudrapur , Udham Singh Nagar, uttrakhand -263153 neasuring 13650 Sq. Mtr & New Plant & Machinery to be purchased
out of bank finance and From own sources including spares and Auxiliary Machines consisting of Tapeline and 66 Lomms. . besides personal guarantee of Director sh.
Dipak Goyal & Liladhar Mundra. besides personal gurantee of Promoters Mahavir Bahtey & Umesh Goyal.
25. The above financial results which are published in accordance with Regulations 33 of SEBI (Listing Obligation
& Disclosure Requirements) , 2015 have been reviewed by the Audit Committee and approved by the Board of
Directors at their respective meeting held. The Financial results have been prepared in accordance with Accounting
Standards ("AS") as prescribed under Section 133 of Companies Act,2013 read with Rule 7 of Companies (Account)
Rule 2014 by the Ministry of Corporate Affairs and amendments thereof.
26. As per MCA Notification dtd 16th February 2015, Companies whoes shares listed on SME exchange as referred
to in Chapter XB of SEBI (Issue of Capital and disclosure Requiremenst) Regulation, 2009 are exempted from the
compulsory requirement of adoption of IND-AS.
27. The Statements are prepared in accordance with the requirements of accounting Standards (AS) specified under
section 133 of Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules, 2014
28. In accordance with Regulation 33 of SEBI ( Listing Obligation and Disclosure Requirements), 2015, the above
Audited Financial results of the Company are posted on Company’s Website and Website of stock Exchange.
29. The Company does not fall in preview of section 135 of Companies Act, 2013, hence CSR is not applicable to
Company.
30. The Company Fall in Preview of Section 138 of Companies act, 2013 for appointment of Internal Auditor the
same has been appointed.
31. Contingent Liabilities and Commitments (to the extent not provided for):-
a) Claim and Demand raised on the Company, which have not been acknowledge as liability and / or pending
disputed in appeals / arbitration etc. which in the opinion of the management are not likely to be paid are
depicted as contingent liabilities.
40. With reference to the Ministry of Corporate Affairs notification dt. 24.03.2021 w.r.t.
amendments in Schedule III, additional regulatory information under are
under:
(i) Title deeds of Immovable Property not held in name of the Company: Nil
(ii) Disclosures regarding whether revaluation is based on the valuation by a Registered
Valuer:
No revaluation took place during the year.
(b) Details of Intangible Assets under Development Completion Schedule: Nil
(vi) Details of Benami Property held:
No Benami Property held by the company as on 31.03.2025.
(vii) Borrowings from banks or financial institutions on the basis of security of current
assets:
The company has submitted the provisional financial data to bankers on time to time basis.
(viii) Wilful Defaulter:
The company has not been declared wilful defaulter by any bank or financial Institution or
other lender as on 31.03.2025.
(ix) Relationship with Struck Off Companies:
The company has not made any transaction during the year with companies struck off
under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.
(x) Registration of charges or satisfaction with Registrar of Companies:
No charges or satisfaction yet to be registered with Registrar of Companies beyond the
statutory period. Except SBI Term loan repay during the year Rs. 100379.35 for satisfaction
of CHG-4 not filed.
(xi) Compliance with number of layers of companies:
The proviso to clause (87) of section 2 of the Companies Act, 2013 provides for restricting
class or classes of holding companies from having layers of subsidiaries beyond prescribed
number. The above provision is not applicable on the company.
a) In Current Ratio-Due to increase in current assets and decrease in current liabilities
as compare to previous year.]
b) In Debt Equity Ratio-Due to decrease in total debt and increase in share holder’s
equity.
c) In Debt Service Coverage Ratio- Due to increase in cash profit & decrease in debt of
Current year as compare to previous year.
d) In Return on Equity Ratio-Due to increase average share holder’s equity of current
year as compare to previous year.
e) In Trade Payable Turnover Ratio- Due to Increase in Net Credit Purchase and Average
Trade Payables in current year as compare to previous year.
f) Net Capital Turnover Ratio- Due to increase in turnover as compare to previous year.
g) In Net Profit Ratio- Due to increase in profit of Current year as compare to previous
year’s profit.
h) In Return on Capital Employed Ratio, Due to improving of earnings before Interest &
Tax in current year as compare to previous year.
i) In Return on Investment Ratio- Due to decrease in PBIT and Increase in Net worth
as compare to previous year.
(xiii) Compliance with approved Scheme(s) of Arrangements:
No any scheme under section 230 to 237 of the Companies Act, 2013 has been approved
for the company.
(xiv) Utilization of Borrowed Funds & Share Premium:
Company has not advanced or loaned or invested funds (either borrowed funds or share
premium or any other sources or kind of funds) to any other person(s) or entity(s), including
foreign entities (Intermediaries).
(xv) Undisclosed Income:
For the year, there is no undisclosed income or any transaction which are not recorded in
the books of account.
(xvi) Details of Crypto Currency or Virtual Currency:
The Company has not traded or invested in Crypto currency or Virtual currency during the
year.
41. Previous year’s figures have been regrouped, reclassified wherever necessary to correspond
with the current year classification/disclosure. This adoption does not impact recognition and
measurement principles followed for preparation of financial statements as at 31st March,
2025.
As per our report of even date attached
CA Sanjay Kumar Gupta Dipak Goyal Liladhar Mundhara
Designated Partner Managing Director (Whole Time Director)
Chief Financial officer DIN:-00606069
Membership No. - 093056 DIN:-00232244
Place: New Delhi
Date:27-05-2025 Chetna Shoor
UDIN: 25093056BNGYVA2124 (Company Secretary)
M.No-51603
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