2.17 Provision and Contingent Liabilities:
The Company creates a provision where 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 where there is a possible obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation in respect of which the likelihood of outflow of resources
is remote, no provision or disclosure is made.
Non- Recognition of Deferred Tax Asset:
As perAS 22, Accounting for Taxes on Income, where an enterprise has unabsorbed depreciation or carryforward of losses undertax laws, deferred taxassets should be
recognised only to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such
deferred tax assets can be realised. The Company was reasonably certain of future taxable incomes, but due to non-availability of convincing evidences, deferred tax
asset was not recognised in the current year.
26 Corporate social responsibility expenditure
As per the Section 135 of the Companies Act, 2013 every year the Company is required to spend at least 2% of its average net profit made during the immediately 3
preceding financial years on the Corporate Social Responsibility (CSR) activities. Gross amount required to be spent by the company during the year is Rs. 41 Lakhs (PY
Rs. 20.50 Lakhs) and actually spent by the Company during the year is Rs. 41 Lakhs (PY- Rs.20.50 Lakhs)
Corporate Social Responsibility is strongly connected with the principles of Sustainability. Your Company has made decisions based not only on financial factors, but also
on the social and environmental factors. Therefore, it is the core Corporate Responsibility to practice the corporate values through our commitments to grow in a socially
(a) and environmentally responsible way, while meeting the interests of our stakeholders. Out of the prescribed areas, depending upon the locational set up, need and
requirement of area and people residing areas, Company has decided to undertake activities under broad areas for purpose of CSR in line with its objective towards CSR:
29 The Company does not have any intangible assets under development.
30 The Company does not hold any Benami Property as defined under Benami Transactions (Prohibition) Act (45) of 1988 and rules made thereunder.
31 The Company has complied with the number of layer prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on Number of Layers) Rules,
2017.
32 The Company does not have any transactions with companies struck off under section 248 of Companies Act 2013 or Section 560 of Companies Act 1956, during the
financial year ending 31 March 2025 and 31 March 2024.
33 Utilisation of borrowed funds and share premium
(a) No funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any
other sources or kind of funds) by the Company 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, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(b) No funds (which are material either individually or in the aggregate) have been received bythe Companyfrom anyperson or entity, includingforeign entity(“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide anyguarantee, securityor the like on behalf of the
Ultimate Beneficiaries.
34 The Company does not have any undisclosed income during the financial year ended 31 March 2025 and 31 March 2024.
35 The Company does not traded or invested in Crypto Currency or Virtual Currency during the financial year ended 31 March 2025 and 31 March 2024.
36 In the opinion of the Board, the Company has made adequate provisions for all the known liabilities and the same is not in excess of the amounts considered as
reasonably necessary.
37 Prior Year Comparatives:
Previous year’s figures are regrouped, rearranged or reclassified wherever considered necessary, to confirm to the current year’s classification.
38 The Company has used an accounting software for maintaining its books of account for the financial year ended March 31, 2025 which does has features of recording
audit trail (edit log) facility and the same has been operated and change in transactions has been recorded in the software from April 01, 2024 to till date i.e. throughout
the year.
Signature to Notes 1 to 38 forming part of the Financial Statements
As per our report of even date attached
For and on behalf of the Board of the Directors
For Ashok Shyam & Associates.
Chartered Accountants Vijay Thakkar Dev Thakkar
Firm Reg. No. 011223N Director Managing Director & CEO
DIN : 00189355 DIN : 07698270
FCA Deepak Khanna
Parmer Kamlesh Thakkar Kumar Naveen
Membership No.:083466 Chief Financial Officer Company Secretary
Place: Delhi
Place : Mumbai
Date: 23rd May 2025 Date: 23rd May 2025
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