3.8 Provisions and Contingent Liabilities
The Company creates a provision when there is present
obligation as a result of a past event that probably requires
an outflow of resources and a reliable estimate can be
made of the amount of the obligation.
A disclosure for a contingent liability is made when there is
a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. The
Company also discloses present obligations for which a
reliable estimate cannot be made. When there is a
possible obligation or a present obligation in respect of
which the likelihood of outflow of resources is remote, no
provision or disclosure is made.
3.9 Borrowing costs
Borrowing costs consist of interest and other costs that an
entity incurs in connection with the borrowing of funds.
Borrowing cost also includes exchange differences to the
extent regarded as an adjustment to the borrowing costs
3.10 Earnings per Share
Basic earnings per share are calculated by dividing the
profit after tax or loss for the period attributable to equity
shareholders by the weighted average number of equity
shares outstanding during the period. In case there are any
dilutive securities during the period presented, the impact
of the same is given to arrive at diluted earnings per share.
The Company has only one class of equity shares having a par value of Rs. 10 per
share. Each holder of equity shares is entitled to one vote per share. The dividend
recommended by the Board of Directors and approved by the shareholders in the
Annual General Meeting is paid in Indian Rupees. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive remaining assets of
the Company, after distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders.
25 Earnings per share (EPS) Fig in Lakh
Basic EPS is calculated by dividing the profit for the year attributable to equity
holders of the Company by the weighted average number of equity shares
outstanding during the year.
Diluted EPS is calculated by dividing the profit attributable to equity holders of
the Company by the weighted average number of equity shares outstanding
during the year plus the weighted average number of equity shares that would
be issued on conversion of all the dilutive potential equity shares into equity
shares of the Company.
26. Conversion of outstanding loans into equity after closure of
the financial year on 31stMarch, 2025
No such event exists in the year ending 31st March, 2025
27. Cost of Investment
The fair value of the quoted shares are not available so the cost of
investment in the quoted shares are based on the cost of
acquisition of shares.
28. Disclosure relating to Trade Payables:
There are no outstanding dues to Micro, Small and Medium
Enterprises to the extent information available with the company
and the payments in respect of such suppliers are made within the
appointed day.
31 Disclosures pursuant to Master Direction - Reserve Bank of
India (Transfer of Loan Exposures) Directions, 2021 dated 24th
September 2021:
a. Details of transfer through direct assignment in respect of
loans not in default:
Since the company has not given any loan which is
Outstanding at the beginning of the year nor has granted
any loan during the year, hence disclosure relating to same
are not applicable.
b. The company has not acquired any loan in default during
the year ended 31st March 2025.
c. The Company has not transferred or acquired any
stressed loan during the year ended 31st March, 2025.
32 Benami Property under the Benami Transactions (Prohibition)
Act, 1988
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 31st March 2025 and 31st March 2024.
33 Crypto currency or Virtual Currency
The Company has not traded or invested in Crypto currency or
Virtual Currency during the year ended 31st March 2025, and 31st
March 2024.
34 Reconciliation of Balances
In the absence of confirmation from all the parties and pending
reconciliation the debit and credit balances with regard to
recoverable and payable have been taken as reflected in the
books. In the opinion of the Directors, Loans and Advances and
Current Assets, if realized in the ordinary course of business, have
the value at which they are stated in the Balance Sheet.
35 Undisclosed Income
There 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 31 March 2025 and 31 March 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 31st March, 2025 and 31st March, 2024
36 Provision for Non-Performing Assets
During the year, the Company has provided Rs. NIL/- (P.Y. NIL-),
towards Non- performing Assets in accordance with the prudential
norms prescribed by Reserve Bank of India.
37 Registration/Satisfaction of Charges with ROC
Since the company has not mortgaged any property / assets
whether moveable or immoveable, nor has taken any loan, hence
the disclosure regarding registration and satisfaction of Charges
with Registrar of Companies is not applicable.
38 Title deeds of immoveable property not held in the name of the
company
The Company does not hold any immovable property either owned
or leased as on 31st March, 2025 and 31st March, 2024, hence
disclosure relating to Title deeds of immoveable property held in the
name of the company and / or its revaluation are not applicable.
39 Quarterly Returns of Current Assets
Since the company has not taken any borrowings from any banks
and / or financial institutions, hence disclosure relating to filing of
quarterly returns or statement of current assets are not applicable.
40 Wilful Defaulter
The Company is not a declared wilful defaulter by any bank or
financial Institution or other lender, in accordance with the
guidelines on wilful defaulters issued by the Reserve Bank of India,
during the year ended 31st March, 2025 and 31st March, 2024.
41 Transactions with Struck off Companies
The Company does not have any transactions with the companies
struck off under section 248 of Companies Act, 2013 or section 560
of Companies Act, 1956 during the year ended 31st March 2025 and
31st March 2024.
42 Segment Reporting
Segment Reporting as defined in Accounting Standards 17 are not
applicable as the company is primarily engaged in Finance Activity
44 Disclosure of transactions with related parties as required by
Ind AS 24
Related party disclosures Related party disclosures as required by
Indian Accounting Standard (Ind AS) -24 is as under
List of related parties and relationships
A. Directors and Key Managerial Personnel (KMP)
1. Mr. Vishal Abrol - Managing Director
2. Mrs. Binal Jenish Shah Non-Executive Non¬
Independent Director
3. Ms. Tejasvi - Chief Financial Officer
4. Ms. Ishita Agarwal - Company Secretary and
Compliance Officer
Subsidiary Company/Associate Company
Silverlink Fintech Private Limited, in which the company
had invested upto 51% i.e. 5100 shares out of 10,000
shares w.e.f. 23rd February, 2024 ceased to be the
subsidiary of the Company w.e.f. 12th February, 2025.
Key Management Personnel
A Ms. Tejasvi, Chief Financial Officer
B Ms. Ishita Agarwal, Company Secretary
Enterprises over which Director / key management
personnel and their relatives exercise Significant
influence
i. Boolean Ventura Private Limited- Mr. Vishal Abrol,
Managing Director of the Company and his son,
Mr. Sparsh Abrol, are the directors of Boolean
Ventura Private Limited
ii. BS Energy Vehicle Private Limited- Mr. Sparsh
Abrol, Son of Mr. Vishal Abrol, Managing Director
of the Company, is Director in Bs Energy Vehicle
Private Limited
iii. Regency Fincorp Limited- Mr. Gaurav Kumar,
Brother of Mr. Vishal Abrol is the Managing
Director of Regency Fincorp Limited
iv. Smart Energy 111 Techmobil India Private
Limited- Mr. Vishal Abrol, Managing Director of the
Company and his son Mr. Sparsh Abrol are the
shareholders of Smart Energy 111 Techmobil
India Private Limited
v. Glitz Homes LLP- Mr. Gaurav Sukhija, Promoter
of the Company is Designated Partner of Glitz
Homes LLP
vi. Silverlink Fintech Private Ltd. - Subsidiary of the
Company for the year ended 31st March, 2025
47 Disclosure Requirements of IND AS
Previous Year figures have been re-arranged/re-grouped,
wherever necessary to confirm to current year Classification
48 Securities premium
Securities premium is used to record the premium on issue of
shares. It can be utilised only for limited purposes in accordance
with the provisions of the Companies Act, 2013.
49. Events after Reporting Date
There have been no events after the reporting date that require
adjustment/disclosure in these financial statements.
50 Subsidiary/Join Ventures/Investments
The Company does not have associate and joint venture, hence
reporting under clause 3(xxi) of the Order is not applicable. There
was one subsidiary company named Silverlink Fintech Private
Limited which ceased to be the subsidiary of the Company w.e.f.
12th February, 2025.
51 Corporate Social Responsibility
The Company doesn't fall under the ambit of Section 135 (1) read
with the Companies (Corporate Social Responsibility Policy)
Rules, 2014. Hence formulation of Corporate Social Responsibility
policy is not applicable to the Company
52. Ageing of Trade Receivables Schedule
The Company doesn't have any Trade Receivable as at 31st March
2025, therefore disclosure regarding ageing of Trade Receivables
is not applicable.
53. Compliance with approved scheme of arrangements
The company has not applied for any scheme of arrangements with
any competent authority in terms of sections 230 to 237 of the
Companies Act, 2013, hence disclosure relating to same are not
applicable
54. Disclosure relation to utilisation of borrowed funds for
specific purpose:
The company has not taken any borrowing from any Banks and/or
Financial institutions, hence disclosure relating to Utilization of
borrowings for specific purpose are not applicable.
(i) Borrowings shall further be sub-classified as secured and
unsecured. Nature of security shall be specified separately
in each case.
(ii) Where borrowings have been guaranteed by Directors or
others, the aggregate amount of such borrowings under
each head shall be disclosed;
(iii) terms of repayment of term loans and other loans shall be
stated; and
(iv) period and amount of default as on the balance sheet date
in repayment of borrowings and interest shall be specified
separately in each case.
55. Ageing of Trade Payable Schedule
The management is not able to find out the ageing of the creditors
due to the constraints beyond their reach.
The company has complied with the number of layers prescribed
under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017.
58. In Consolidated Financial Statements, the following shall be
disclosed by way of additional information Part III- General
Instructions for the Preparation of Consolidated Financial
Statements:
59. Dividend distributions made and proposed
No dividend has been distributed and proposed to be declared.
60. Concentration of Deposits, Advances, Exposures and NPA'S
The company has exposure to the electric vehicle industry almost
and all their retail transactions have exposure to the electric vehicle
industry. The total exposure to the doubtful accounts is given below
against which the company has initiated action under N I Act, 1881
and under IBC, 2016
61. Off-balance Sheet SPVs sponsored (which are required to be
consolidated as per accounting norms)
Silverlink Fintech Private Limited
62. Penalties / fines imposed by the RBI and other regulators
NIL- confirmed by the management
63. Software purchase
No software was purchased by the company purchased during the
financial year 2024-25.
As per our report of even date
For MKRJ & Co. For and on behalf of the Board of Directors
Chartered Accountants Vani Commercials Limited
Firm Registration Number: 0030311N
Sd/- Sd/- Sd/-
Mukesh Kumar Jain Vishal Abrol Pranay Kumar Tayal
Partner Managing Director Director
Membership No. 073972 DIN: 06938389 DIN: 10649067
UDIN: 25073972BMLGAW2496
Date: 29.05.2025 Sd/- Sd/-
Place: New Delhi Ishita Agarwal Tejasvi
Company Secretary Chief Financial Officer
PAN:BELPA2607F PAN: BMDPT7950A
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