i) Provisions and Contingencies

A provision is recognized when an enterprise has a present obligation as a result of past event and
it is probable that an outflow of resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions are not discounted to their present values and
are determined based on management estimate required to settle the obligation at the Balance
Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current
management estimates.

Contingent liabilities are disclosed in respect of possible obligations that have arisen from past
events and the existence of which will be confirmed only by the occurrence or non-occurrence of
future events not wholly within the control of the Company.

When there is an obligation in respect of which the likelihood of outflow of resources is remote,
no provision or disclosure is made.

For Akar & Associates For & on behalf of the Board of Directors

Chartered Accountants For Rockingdeals Circular Economy Limited

FRN: 003753N (Formerly Known as Technix Electronics Limited, originally known

as Technix Electronics Private Limited)

Rasik Makkar Managing Director Director

Partner Aman Preet Kulbir Chopra

DIN:00140021 DIN:03193553