• A provision is recognized if, as a result of a past event, the Company
has a present legal or constructive obligation that is reasonably
estimable, and it is probable that an outflow of economic benefits will be
required to settle the obligation. Provisions are determined by
discounting the expected future cash flows at a pre-tax rate that reflects
current market assessments of the time value of money and the risks
specific to the liability.
• A contingent liability is a possible obligation that arises from past events
whose existence will be confirmed 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 is not recognized
because it is not probable that an outflow of resources embodying
economic benefits will be required to settle the obligation or the amount
of the obligation cannot be measured with sufficient reliability.
Contingent liability has been disclosed in accordance with AS-29,
issued by The Institute of Chartered Accountant of India
As per our report of even date
For Chitranjan Agarwal & Associates
Chartered Accountants For and on behalf of the Board
Firm Regd. No. 029812N
Sd/- Sd/- Sd/-
Chitranjan Agarwal Mansi Narang Naveen Narang
Director Managing Director & CFO
Pi u DIN: 07089546 DIN: 00095708
Membership No. 537391
Place : New Delhi Sd/-
Date : 23-05-2025 Sonali Mathur
Company Secretary
M. No: A62205
IV. DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED
UNDER THE MSMED ACT, 2006
The information regarding dues to micro and small enterprises have been
determined to the extent such parties have been identified on the basis of
information collected by the management. This has been relied upon by the
auditors.
In accordance with the requirements of Accounting Standards (AS) -18 on
Related Party Disclosures, the names of the related parties where control exists
and/or with whom transactions have taken place during the year and description
of relationships, as identified and certified by the management are:
Ind AS 108 establishes standards for the way that public business enterprises
report information about operating segments and related disclosures about
products and services, geographic areas, and major customers. The
Company's operations predominantly relate to Real Estate Development.
Based on the 'management approach' as defined in Ind AS 108, Management
evaluates the Company's performance and allocates resources based on an
analysis of various performance indicators by business segments and
geographic segments. Accordingly, information has been presented both along
business segments and geographic segments. The accounting principles used
in the preparation of the financial statements are consistently applied to record
revenue and expenditure in individual segments, and are as set out in the
significant accounting policies.
Segment reporting Policies:-
a) Identification of Segments:- Primary - Business Segment
Before Amalgamation the company was a single segment company.
After amalgamation of three Transferor Companies, the company has
identified three reportable segments viz. financing of vehicles and other
finance, Real Estate business and dealing in stock and shares.
Secondary - Geographical Segments
The company operates entirely in India and hence no geographical segment
has been made.
b) Revenue and expenses have been identified to the segment on the
basis of relationship to operating activities of the segment. Revenue
and expenses which relate to enterprise as a whole and are not
allocable to a segment on reasonable basis have been disclosed as un¬
allocable expenses.
VIII. The title deeds of all the immovable properties, as disclosed in the financial
statements, are held in the name of the company
IX. Valuation of Property Plant & Equipment, intangible asset
The Company has not revalued its property, plant and equipment during the
current or previous year.
X. Loans or advances to specified persons
"No loans or advances in the nature of loans are granted to promoters, directors,
KMPS and the related parties (as defined under Companies Act, 2013,) either
severally or jointly with any other person, that are repayable on demand or
without specifying any terms or period of repayment.
XI. Details of benami property held
The Company do not have any Benami property, where any proceeding has
been initiated or pending against the Company for holding any Benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules
made thereunder.
XII. Willful Defaulter
The Company is not declared as willful defaulter by any bank or financial
institution (as defined under the Companies Act, 2013) or consortium thereof or
other lender in accordance with the guidelines on willful defaulters issued by the
Reserve Bank of India.
XIII. Relationship with Struck off Companies
The Company has no transactions with the companies struck off under Section
248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
XIV. Registration of charges or satisfaction with Registrar of Companies
There are no charges or satisfaction yet to be registered with Registrar of
Companies (ROC) beyond the statutory period.
XV. Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under the
Section 2(87) of the Companies Act, 2013 read with Companies (Restriction on
number of layers) Rules, 2017.
XVII. Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any scheme of arrangement which has an
accounting impact on current or previous financial year
XVIII. Utilization of Borrowed funds and share premium:
i. The Company have not advanced or loaned or invested funds to any
other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding that the Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the
company (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the
ultimate beneficiaries
ii. The Company have not received any fund from any person(s) or
entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the
Company shall:
(a directly or indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries."
XIX. Corporate Social Responsibility (CSR)
The Company does not meet the condition of sec 135 of companies Act 2013
that's why not covered under Sec 135 of the companies Act
XX. Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in crypto currency or virtual currency
during the current or previous year.
XXI. Utilisation of borrowings availed from banks and financial institutions
The borrowings obtained by the company from banks and financial institutions
have been applied for the purposes for which such loans were taken.
XXII. Undisclosed income
There is no income surrendered or disclosed as income during the current or
previous year in the tax assessments under the Income Tax Act, 1961, that has
not been recorded previously in the books of account.
XXIII. Previous Year's figure has been regrouped / reclassified wherever necessary to
correspond with current year's classification / disclosure.
XXIV. Notes 1 to 4 forms the integral part of the financial statements.
As per our report of even date
For Chitranjan Agarwal & Associates
Chartered Accountants For and on behalf of the Board
Firm Regd. No. 029812N
Sd/- Sd/- Sd/-
Chitranjan Agarwal Mansi Narang Naveen Narang
Director Managing Director & CFO
Th u DIN: 07089546 DIN: 00095708
Membership No. 537391
Place : New Delhi Sd/-
Date : 23-05-2025 Sonali Mathur
Company Secretary
M. No: A62205
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