K. PROVISIONS, CONTINGENT LIABILITIES AND ASSETS:
Provisions are recognised when the Company has a present obligation as a result of past events and
it is more likely that an outflow of resources will be required to settle the obligation and the
amount has been reliably estimated. Provisions are not discounted to present value and are
determined based on best estimate of the expenditure required to settle the obligation at the balance
sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best
estimate.
Contingent Liabilities are not disclosed by way of notes to the financial statements. Contingent
assets are neither recognised nor disclosed in the financial statements. As stated by Management,
there were no Contingent Liabilities.
L. EARNING PER SHARE (EPS):
Basic earnings per share are computed by dividing the profit/(loss) after tax by the total number of
equity shares outstanding during the year. Diluted earnings per share is computed by dividing the
profit/(loss) after tax by the total number of equity shares considered for deriving basic earnings
per share.
2. RELATED PARTY DISCLOSURES:
The Company has transaction of a material nature with the promoters, Directors of management,
their subsidiaries or relatives that may have potential conflict with the interest of the company at
large. The register of contacts containing the transactions in which Directors are interested in place
before the board regularly for it approval.
The Company Confirms that all transaction including purchase and sales done with related party is at
Arm’s Length Price and in normal course of business with all entities. The Company confirms that
none of the transactions, if any, with the related parties was in material conflict with the interest of
the Company.
4. SEGMENT REPORTING:
The Company is primarily dealing in Real estate activities with own or leased property &
Construction Business, however during the year turnover are of trading / commission nature which in
the context of Accounting Standard 17 on “Segment Reporting” constitutes a construction & trading
5. EMPLOYEE BENEFIT EXPENCES:
Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are
administered by Central Government of India and contribution to the said funds are charges to Profit
and Loss Account or accrual basis if any.
Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates
in accordance with the policies of the company if any.
The Provision of Gratuity is Rs. Nil.
6. Any material gains/ losses which arise from the events or transaction which are Events Occurring
after the Balance Sheet Date of the company are separately disclosed if any.
7. Auditor’s remuneration:
During the year under consideration provision has made for Auditor’s remuneration.
. (in Rupees)
31 March 2024 31 March 2023
Statutory Audit Fees 2,00,000/- 77,000/-
8. Director’s remuneration:
During the year under consideration provision has made for Director’s remuneration.
For which no resolution is passed in the AGM for same or has not obtained any information.
(in Rupees)
31 March 2024 31 March 2023
Remuneration 0.00 4,00,000.00
Seating fees 30,000/- 0.00
9. As certified by company that it has received written representation from all the directors. That
companies is which they are directors had not defaulted in terms of section 164(2) of the Companies
Act, 2013, and that representations of directors takes in Board that Director is disqualified from
being appointed as director of the company.
10. The management has informed that the Company has not received any memorandum (as required to
be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise
Development Act, 2006) claiming their status during the year as micro, small or medium enterprises.
Consequently there are no amounts paid/ payable to such parlies during the year.
11. Expenditure in foreign currency is Rs. NIL/- in respect of Foreign Travelling.
12. Export Sales in foreign currency is NIL/- (In Indian Rupees). However, Other Income in foreign
currency is Rs. Nil.
13. There is No Any Amalgamation or Acquisition with Other Company / Firm / Entity by the company
during the financial year.
14. As inform to us the company has made business investment of Rs.8.43crores(FY 2022-23) with 2
parties which are outstanding in balances sheet are subject to verification of progress report.
15. The company has Not received any type of Government Grants or Subsidies.
16. The company did Not enter into any Lease Agreement.
17. The details and of ageing of creditors including MSME creditors details & details of ageing of
debtors are as under.
18. No segment or part of company is discontinued or sold during the year.
19. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the
current year’s classifications/disclosure.
20. Particulars of licensed capacity or production capacity is Nil/- of the company.
21. The company is engaged primarily in construction business, trading & commission agent. As
per AS-108 Operating Segment, none of the segment/products exceeds specified limits for the
purpose of reporting as per AS-108 is not applicable.
22. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering the
prudence aspect.
23. Audit committee minutes not produced before us.
24. The turnover with GST is subject to verification of reconsilation.
25. All of the Debit, Credit, Balances including, Loans & advances, investment lying in various party’s
Customer’s accounts are subject to their balance confirmation as details not produced before us.
26. As inform to us by the management there were no Crypto currency or virtual currency transaction.
27. As inform to us by the management there were no new registration of charges with ROC except old
charges continue.
28. The management has submitted statement of current assets for stock & debtors with bank for CC loan
limit.
29. As inform to us by the management there were no details of benami property held.
30. Computation of ratio attach herewith.
For, SVS VENTURES LIMITED For, J.M. Patel & Bros.
Chartered Accountants
NS F.R.NO.107707W
if' ^(ahmedasaM*^ 0 t A ,
SHASHIKANT V. SHARMA SUNNY S. SHARMA (CAJ.M. Patel)
Managing Directot^e^;^Director M.COM., F.C.A.
DIN :06628349 /^ure^IN :09480894 M. No. 030161
<—> f/^y' UDIN: 24030161BKELXA8567
|>x M
Place : Ahmedabad
Company Secretary'' Date: 30/05/2024
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