(E) Provisions, Contingent Liabilities and Contingent Assets
Provisions are measured at the present value of the management's best estimate of the expenditure required
to settle the present obligation at the end of the reporting period. Provisions involving substantial degree of
estimation in measurement are recognized when there is a present obligation as a result of past events and it
is probable that there will be an outflow of resources.
Contingent liabilities are disclosed only when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events which is not wholly within the control of the company ora present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle the obligation or
estimate of the amount cannot be measured reliably. No contingent asset is recognized but disclosed by way
of notes to accounts only when its recognition is virtually certain.
(F) Borrowing Cost
General and Specific Borrowings Cost that are directly attributable to the acquisition or construction or
production of qualifying assets capitalized as part of the cost of such assets up to the date when such assets
are ready for intended use. Qualified assets are assets that necessarily take a substantial period of time to get
ready for their intended use or sale. Other borrowing costs are charged as expenses in the year in which they
are incurred.
(G) Earnings PerShare
Basic Earnings per Share is calculated by dividing the net profit of loss for the period attributable to equity
shareholders by weighted average number of equity shares outstanding during the period. For the purpose of
calculating diluted earnings pershare, net profit after tax during the year and the weighted average number of
shares outstanding during the year are adjusted for the effect of all dilutive potential equity shares
1.5 Revenue Recognition
The Company has recognized revenue from Services namely Office Management/ C&F Agency
Operations as and when becomes due and on accrual basis.
1.6 Investments
Long term investments are stated at cost, unless the loss is other than temporary in nature. There are no
long-term investments at the end of year.
1.7 Current Tax
Current tax expense is based on the provisions of Income Tax Act, 1961 and judicial interpretations
thereof as at the Balance Sheet date and takes into consideration various deductions and exemptions
to which the Company is entitled to as well as the reliance placed by the Company on the legal advices
received by it. Current tax assets and current tax liabilities are offset when there is a legally enforceable
right to set off the recognized amounts and there is an intention to settle the asset and the liability on a net
basis.
1.8 Retirement benefits
Gratuity and leave encashment are accounted for on cash basis.
16 Income Tax assessments of the Company have been completed up to assessment year 2024-25.
17 The Company has no liability towards leave encashment, gratuity and bonus payable for the year under
consideration.
18 The Company has no suppliers covered under "Micro, Small & Medium Enterprises Development Act,
2006”. This has been relied upon by the auditors.
19 The Company will review the various credit balances appearing in the ledger for a considerable period of
time and necessary adjustment, if any, shall be carried out upon settlement of the dues.
20 Segmental reporting as defined in Accounting Standard 17 is not applicable to the Company as it is operating
only a single business, i.e. office management services / C&F Agency Operations.
21 Deferred Taxation:
The Company has adopted Accounting Standard 22 “Accounting for Taxation on Income” issued by the
Institute of Chartered Accountants of India with effect from 1st April 2001. As on the date of Balance Sheet,
the Company has significant unabsorbed depreciation and carry forward losses. In view of the absence of
virtual certainty of realization of unabsorbed depreciation and carry forward losses, no deferred tax assets
have been recognized.
23. The Company has adopted Indian Accounting standards (Ind-AS) effective 1st April 2017(transition
date being 1st April 2017) and accordingly audited financial results has been prepared in accordance
with IND-AS prescribed under section 133 of the Companies Act, 2013 read with Companies (Indian
Accounting Standards) Rules 2015 (as amended)
25. Previous year’s figures have been regrouped /rearranged wherever considered necessary to
confirm to this year classification.
27 Other Statutory Information
(i) The Company does 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 or rule thereunder.
(ii) The Company does not have any transactions with companies struck off.
(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Company has not advanced or loaned or invested funds to any other person(s) orentity(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.
(vi) The Company has 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,
In terms of our report of even date. For and on behalf of the Board of Directors
For Saluja and Associates
Chartered Accountants (Rishabh Goyal)
FRN:000148N ' . J ' . #
Managing Director Chairman
DIN: 06888389 DIN: 01659885
(V.KVERMA)
PARTNER
UdIn° 017742 (K.Sukumaran) (K.K. Jha)
PLACE: NEW DELHI Company Secretary CFO
DATE:28.05.2025 M. No. 1680
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