1.12 Provisions and Contingent Liabilities :
Provisions are recognized when the Company has a legal and constructive obligation as a result of a past event, for which it is
probable that a cash outflow will be required and a reliable estimate can be made of the amount of the obligation. Contingent
liabilities are disclosed when the Company has a possible obligation or a present obligation and it is probable that a cash outflow will
not be required to settle the obligation.
1.13 Earnings Per Share :
The basic earnings per share is computed by dividing the net profit/ loss attributable to the equity shareholders for the period by the
weighted average number of equity shares outstanding during the reporting period. Diluted earning per share is computed using the
weighted average number of equity shares and dilutive potential equity shares outstanding during the year except where the result
would be anti-dilutive.
1.14 Cash and cash equivalents :
In the cash flow statement, cash and cash equivalents includes cash in hand.
1.15 Cash Flow Statement:
Cash flows are reported using the indirect method, whereby profit/(loss) before tax is adjusted for the effects of transactions of non¬
cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and
financing activities of the Company are segregated based on the available information.
2.17 Gratuity & Other Post Emptoyment_Benefit Fl_ans
The Management has certified that there are no liabilities for Gratuity/Retirement Benefits/Leave Encashment Benefits for the audited financial year.
2.18 Capital Management
The Company's capital management strategy is to effectively determine, raise and deploy capital so as to create value for its shareholders. The same is done through a mix of either equity and/or convertible and/or
combination of short term/long term debt as may be appropriate.
The company determines the amount of capital required on the basis of operations, capital expenditure and strategic investment plans. The capital structure is monitored on the basis of net debt to equity and maturity profile
of overall debt portfolio.
2.19 Financial Risk Management Framework
In the course of its business, the Company is exposed to certain financial risks namely credit risk, interest risk & liquidity risk. The Company's primary focus is to achieve better predictability of financial
markets and seek to minimize potential adverse effects on its financial performance for the year ended 31.03.2024.
(i) Market Risk
Market Risk is the risk that the fair value or future cash flows of financial instruments will fluctuate due to changes in market variables such as interest rates, foreign exchange rates, etc. The
objective of market risk management is to manage and control market risk exposures within acceptable parameters, while maximising the return.
(a) Pricing Risk
The Company's does not hold any financial asset which will lead to a pricing risk for the company.
(bf Interest Rate Risk
The company uses a mix of cash and borrowings to manage the liquidity & fund requirements of its day-to-day operations.
Interest Rate Sensitivity
The sensitivity analysis below have been determined based on exposure to interest rate for non-derivative instruments at the end of reporting period. As the company does not have any floating
rate liability, thus no sensitivity analysis is prepared therein.
(ii) Credit Risk
Credit risk is the risk that the Company will incur a loss because its customers fail to discharge their contractual obligations.The Company has a comprehensive framework for monitoring credit quality based on
days past due monitoring at period end.
Covid *19 Virus, a gobal pandemic has affected the world economy leading to significant volatility in financial markets and in economic activities. The extent to which the Covid -19 will impact the Company's
provisions on Assets etc. will depend on the future developments, which are higly uncertain, including amoung the other things any new information concerning the severity of the Covid *19 pandemic and any
action to contain its spread or mitigate its impact whether government mandated or elected by the company.
in accordance with the RBI guidelines relating to COVID-19 Regulatory Package dated March 27, 2020, April 17, 2020 and May 23, 2020, the lending institutions have been permitted to grant a moratorium upto
August 31,2020 on payment of all instalments and / or interest, as applicable, failing due between March 1, 2020 and August 31,2020 (‘moratorium period') to eligible borrowers in accordance with the Board
approved policy. The Company has not granted moratorium.
1.23 Disclosure as per RBI Circular dated 13th March, 2020 on Implementation of Indian Accounting Standards is not applicable to the Company.
1.24 As per the information available with the Company, there is no amount due to Micro, Small and Medium Enterprises registered under "The Micro, Small and Medium Enterprises Development Act, 2006" as at 31st March,
2024 & 31st March, 2023.
L25 Statement required under paragraph 18 of Non Banking Financial (Non - Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions - RBI/DNBR/2016-17/45 Master Direction DNBR. PD
008/03.10.119/2016-17, as modified from time to time is not applicable to the Company.
1.26 Details required as per notification no. RBI/DNBR/2016-17/45 , Master Direction DNBR. PD. 008/03.10.119/2016-17 relating to Master Direction - Non-Bankmg Financial Company - Systemically Important Non-Deposit
taking Company (Reserve Bank) Directions, 2016 as modified upto 17th October 1 2016 are not applicable lo the Company.
1.27 The enclosed financial statements have been prepared in accordance with Schedule 111 (Division III) of the Companies Act ,2013. Previous year figures have accordingly been reclassified / regrouped / rearranged whenever
necessary.
2.29 The disclosure on the following matters required under Schedule III as amended not being relevant or applicable in our case, same are not covered:
a) The Company has not traded or invested in crypto currency or virtual currency during the financial year _____. , ,
b) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made
thereunder.
c) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority
d) No satisfaction of charges are pending to be filed with ROC. , . . T , .
e) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income I ax Act,
1961.
f) The company has not made any transactions with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.
g) The company is not covered under section 135 of the Companies Act 2013
h) There is no such non compliance with number of layers prescirbed under caluse (87) of section 2 of the Acte read with companies (Restriction on number of Layers) Rules, 2017.
A) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or other kind of funds) to or in any other person or entity, including
foreign entity (“intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly [end or invest in other persons or entit.es
identified in any manner whatsoever by or on behalf of the Group ("Ultimate Beneficiaries") or provide any guarantee, security or the Like on behalf of the Ultimate Beneficia lies.
B) The Company has not received any funds (which are material either individually or in the aggregate) from any person or entity, including foreign entity ("Funding Parties"), with the
2,30 u ndeistanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, Send or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,
Signature to Notes 1 & 2
Significant Accounting Policies
Refer accompanying notes to the Financial Statements.
In terms of our attached report of even date
q For and on behalf of the Board
For S.N.ROY & CO,
Firm Registration No.313054E
S N Roy Dinesh Kumar Pandey Rajnarayan De
Partner (DIN No:- 01676842) (DIN No:-10042934)
Membership No-051056
UDIN: 24051056BKBHEV2823
Place: Kolkata Laxmi Kant Parwa Sonu Ghosh
Dated: 27th May, 2024 !CF0) (ACS-63807)
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