j) Provision on Non-Performing Assets & for diminution in Investment value
Non-performing assets are identified and categorized into Sub-standard, Doubtful and Loss Category
based on the guidelines and direction issued by RBI. Provisions for non-performing assets and for
diminution in investment value are made in the accordance with the RBI guidelines.
k) Contingent Liabilities
No Contingent Liabilities were recognized by the management during the year.
l) Investments
In accordance with Accounting Standard (AS 13) on "Accounting for Investments" and the guidelines
issued by the Reserve Bank of India, Current Investments are stated at lower of cost and fair value.
However, Provision for diminution in value of investment is made to recognize a decline in value other
than temporary in nature. On sale of an investment, the difference between its carrying value and net
sale proceeds is charged or credited in the statement of profit and loss. Unquoted investments in the
units of mutual funds in the nature of current investments are valued at the net asset value declared
by mutual funds in respect of each particular scheme.
m) Employment benefit: -
i. Gratuity-:
Gratuity is a post-employment benefit. During the year 2024-25, the Company has made provision
for gratuity and the detail of the same in under note no. 8 of the notes on Financial Statements for
the year ended 31st March 2025.
ii. Provident Fund -:
Pursuant to Employees' Provident Fund Act, the payment under Employees Provident Fund Act
is not applicable to the Company.
iii. Employee state Insurance-:
The Company contributes amount to Employee state Insurance as per the provisions of the
Employee State Insurance Act and is recognized as an expense in the period in which the services
are rendered.
iv. Short Term Employee Benefits: -
Short Term Employee Benefits are recognized during the period when the services are rendered.
These Short-term benefits include Bonus, Incentive and other benefits which fall due within twelve
months after the end of the period in which services are rendered.
n) Accounting For Taxes on Income
The accounting treatment for the Income Tax in respect of Company's Income is based on the
Accounting Standard on "Accounting for taxes on Income" (AS 22). Income tax expenses is the
aggregate amount of current tax and deferred tax charge, Taxes on income are accrued in the same
period as the revenue and expenses to which they relate. Current Tax is determined in accordance with
the Income Tax Act 1961, on the amount of tax payable in respect of income for the year.
Deferred tax assets and liabilities are recognized for the future tax consequences of temporary
differences arising between the carrying value of assets and liabilities. Deferred tax assets are
recognized only after giving due consideration to prudence. Deferred tax assets and liabilities are
measured using tax retards and tax laws that have been enacted (or) substantially enacted by the
balance sheet date.
o) Earnings Per Share
The Company reports basic and diluted earnings per equity share in accordance with (AS) 20, Earnings
per share issued by the Institute of Chartered accountants of India. Basic earnings share has been
computed by dividing net income by the weighted average number of equity shares outstanding for
the period. Diluted earnings per equity shares have been computed using the weighted average
number of equity shares and dilutive potential equity shares outstanding during the period.
p) Goods and Service Tax Input Credit
Goods and Service Tax input credit is accounted for in the books in the period in which the underlying
service received is accounted and when there is reasonable certainty in availing /utilising the credits.
q) Net Profit
The Company calculates Net Profit or Loss for the Period and Changes in Accounting Policies, if any, in
accordance with (AS) 5, issued by the Institute of Chartered accountants of India and other applicable
laws.
r) Net Profit
The accounting software used by the Company to maintain its Books of account have a feature of
recording audit trail (edit log) facility and the same has been operated throughout the year for all
transactions recorded in the software as also in database maintained with respect thereto.
Terms and condition of transactions with related parties: -
All the related party transactions are made in the normal course of business and on terms equivalent to
those that prevail in arm's length transactions.
24. In the opinion of management the current assets and advances are approximately of the value as stated
if realized in the ordinary course of business unless otherwise stated. The provisions for all liabilities
are adequate and not in excess / shortage of the amount reasonably necessary.
25. During the year, there was no employee employed throughout the year who was in receipt of
remuneration of Rs. 1.02 Crores or more per annum or Rs. 8.50 Lakhs or more per month, if employed
for the part of the year.
26. The previous year figures have been regrouped /rearranged/ reclassified wherever necessary to
correspond with current year's disclosure.
27. The Company have complied all the applicable prudential norms prescribed by Reserve Bank of India
on income recognition, accounting standards, assets classification, provisions for Bad & doubtful debts,
capital adequacy and credit / investment concentration.
28. The Company has written off irrecoverable debts amounting to Rs. 0.00 Lakhs in financial year 2024¬
25 (Previous Year 14.97 lakhs).
29. The company does not have any exposure in foreign currency at the year end.
34. There here have been no transactions which have not been recorded in the books of accounts, that have
been surrendered or disclosed as income during the year ended March 31, 2025 and March 31, 2024,
in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded
income and related assets which were to be properly recorded in the books of account during the year
ended March 31, 2025 and March 31, 2024.
35. The Company is not having any outstanding borrowings from banks and financial institutions as on the
balance sheet date i.e., March 31, 2025.
36. The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended
March 31, 2024 and March 31, 2024.
38. There has been no delay in registration or satisfaction of charges with Registrar of Companies (ROC)
beyond statutory limit.
39. No proceedings have been initiated or pending against the Company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder, as at March 31,
2025 and March 31, 2024.
40. Company has not invoked or implemented resolution plan under the "Resolution Framework for
COVID-19 related Stress" as per RBI circular dated August 6, 2020 for any of its borrower accounts. The
Company has not invoked or implemented resolution plan under the "RBI Resolution Framework - 2.0:
Resolution of COVID-19 related stress of Individuals and Small Businesses dated May 05, 2021 with
reference to disclosures stated under Format-B prescribed in the Resolution Framework - 1.0.
41. The Company does not hold any immovable property in the Company.
42. As a part of normal lending business, the company grants loans and advances on the basis of security /
guarantee provided by the Borrower/ co-borrower. These transactions are conducted after exercising
proper due diligence. Other than the transactions described above
a) No funds have been advanced or loaned or invested by the Company to or in any other person(s)
or entity(ies) including foreign entities ("Intermediaries") with the understanding that the
Intermediary shall lend or invest in a party identified by or on behalf of the Company (Ultimate
Beneficiaries);
b) No funds have been received by the Company from any party(s) (Funding Party) with the
understanding that the Company shall whether, directly or indirectly, lend or invest in other
persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide
any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Notes on Financial statements 1 to 42 are annexed and forming part of the Balance Sheet and Statement of
Profit & Loss.
For M/S Valawat & Associates, For & on behalf of the Board
Chartered Accountant
FRN:003623C
Sd/- Sd/-
Vinod K. Jain Seema Jain
Managing Director Director
DIN: 00248843 DIN:00248706
Jinendra Jain Place: Udaipur Place: Udaipur
Partner
Membership No: 072995
Place: Udaipur
Date: 30-05-2025 Sd/- sd/-
UDIN: 25072995BMNAVI3876 Priya Chaplot Rajat Purohit
Company Secretary CFO
M. No: A48227 Place: Udaipur
Place: Udaipur
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