h) PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:
Provisions are recognized when the Company has a present obligation (legal or constructive) as a
result of a past event, it is probable that an outflow of resources embodying economic benefits will
be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation. Provisions are measured at the best estimate of the expenditure required to settle the
present obligation at the Balance Sheet date.
If the effect of the time value of money is material, provisions are discounted to reflect its present
value using a current pre-tax rate that reflects the current market assessments of the time value of
money and the risks specific to the obligation. When discounting is used, the increase in the
provision due to the passage of time is recognized as a finance cost.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company or a present obligation that
arises from past events where it is either not probable that an outflow of resources will be required
to settle the obligation or a reliable estimate of the amount cannot be made.
i) BORROWING COSTS:
Borrowing costs include interest expense calculated using the effective interest method as described
in "Ind AS 39 Financial Instruments: Recognition and Measurement"; finance charges in respect of
finance leases recognized in accordance with Leases, and exchange differences arising from foreign
currency borrowings to the extent that they are regarded as an adjustment to interest costs.
Borrowing costs that are attributable to the acquisition or construction of qualifying assets are
capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes a
substantial period of time to get ready for the intended use. All other borrowing costs are charged to
revenue.
j) ACCOUNTING FOR EMPLOYEE BENEFITS:
Gratuity and Earned Privilege Leaves are the retirement benefits available to the employees and the
same have been determined on the accrual basis. There are no eligible employees entitled to such
benefits and therefore no provision has been made in respect of such benefits.
k) Foreign Currency Transactions:
i) Foreign Currency Transactions on initial recognition in the reporting currency are
accounted for at the exchange rates prevailing on the date of transaction.
ii) At each Balance Sheet date, foreign currency monetary items are translated using the
average of exchange rates prevailing on the Balance Sheet date and non-monetary items are
translated using the exchange rate prevailing on the date of transaction or on the date when
the fair value of such items are determined.
Losses or gains relating to the loans/ deferred credits utilized for acquisition of fixed assets are
adjusted to the carrying cost of the relevant assets. All the other exchange differences arising on the
settlement of the monetary items or on reporting of monetary items at the rates different from those
at which they were initially recorded during the period, or reported in previous financial statements
are recognized as income or expenses in the period in which they arise
l) Events Occurring after Balance Sheet Date:
Effect of the events occurring after the Balance Sheet date that provide additional information
materially affecting the determination of the amounts relating to condition existing on Balance Sheet
date, are adjusted to the assets and liabilities.
m) Extra Ordinary and Prior Period Items:
Extra Ordinary items and Prior Period Items are separately disclosed in financial items.
Additional Regulatory Information
(1) Details of Benami Property held
The Company does not hold any Benami Property and hence there were no proceedings initiated or
pending against the Company for holding any benami property under the Benami Transactions
(Prohibitions) Act, 1988 and the Rules made there under, hence no disclosure is required to be given as such
(2) borrowings from banks or financial institutions on the basis of security of current assets
The Company does not have any borrowings from banks or financial institutions on the basis of security of
current assets the financial statements; hence no disclosure is required as such.
(3) Willful Defaulter
The Company has not been declared as willful defaulter as at the date of the balance sheet or on the date of
approval of the financial statements, hence no disclosure is required as such.
(4) Relationship with Struck off Companies
The Company does not have any transactions with Companies which are struck off under Section 248 of the
Companies Act, 2013 or Section 560 of the Companies Act, 1956, hence no disclosure is required as such.
(5) Registration of charges or satisfaction with Registrar of Companies
There are no charges against the companies which are yet to be registered or satisfaction yet to be registered
with ROC beyond the statutory period, hence no disclosures are required as such.
(6) Compliance with number of layers of companies
The Company does not have investment in any downstream companies for which it has to comply with the
number of layers prescribed under Clause (87) of Section 2 of the Companies Act, 2013 read with
Companies (Restriction on number of layers) Rules, 2017, hence no disclosure is required as such.
(7) Undisclosed Income
The Company does not have any undisclosed Income which was not recorded in the books of accounts and
which 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. Also, the Company does not have
previously unrecorded income and related assets which were required to be properly recorded in the books
of accounts during the year.
(8) Corporate Social Responsibility (CSR)
The Company is not required to comply with the provisions of Section 135 of the Companies Act, 2013.
(9) Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year,
hence disclosure requirements for the same is not applicable.
Summary of significant accounting policies
Note: The accompanying notes referred to above which form an integral part of the financial statements.
*Refer note 9 for details
*Refer note 10 for details
As Per Our Report of Even Date For and On Behalf Of the Board of Directors
For S D T & Co.
Chartered Accountants
(Firm Registration No: 112226W) Mr. Paras Jain Mr. Hitesh Shah
(Managing Director) (Director and CFO)
(DIN: 10293593) (DIN: 01768877)
Dilip K. Thakkar
(Partner)
Membership No: 031269
UDIN: 25031269BMKYAR5477 Radhika Bhadada
Place : Vadodara Company Secretary
Date : 24/05/2025 (ACS No: 54954)
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