The company estimates the provisions that have present obligations as a result of past events and it
is probable that outflow of resources will be required to settle the obligations.
These provisions are reviewed at the end of each reporting period and are adjusted to reflect the
current best estimates.
u) Contingent Liabilities
The company uses significant judgements to disclose contingent liabilities Contingent Liabilities are
disclosed 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 not
wholly within the control of the Company or a 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 a
reliable estimate of the amount cannot be made. Contingent Assets are neither recognized nor
disclosed in the Financial Statements.
v) Provision for Income Tax and Deferred tax assets
The company uses estimates and judgements based on the relevant rulings in the areas of allocation
of revenue cost ,allowances and disallowances which is exercised while determining the provision
for income tax.A Deferred Tax Asset is recognized to the extent that it is probable that future taxable
profit will be available against which the deductible temporary differences and tax losses can be
utilized .Accordingly the Company exercises its judgement to reassess the carrying amount of
deferred tax assets at the end of each reporting period.
w) Earnings Per Share
The basic earnings per share is computed by dividing the net profit / (loss) attributable to the equity
shareholders of the company by the weighted average number of equity shares outstanding during
the reporting period.
Diluted earnings per share is computed by dividing the net profit / (loss) attributable to the equity
shareholders for the year, as adjusted for the effects of potential dilution of equity shares, if any, by
the weighted average number of equity and dilutive equity equivalent shares outstanding during the
reporting period.
No provision for deferred tax asset is made on account of the business loss and unabsorbed
depreciation carried forward under the Income Tax Act. The deferred tax assets have not been
recognized as there is no reasonable certainty of sufficient taxable income being available against
which such deferred tax assets can be realized.
The company has not made any provision for gratuity payable. There are no other employees who
are eligible for Gratuity payment during the year. The liability as per actuarial valuation has not been
determined.
The balances in Sundry Debtors and Trade Payables are as per the books of accounts for which the
company has not obtained confirmations from certain parties. The said balances are therefore
subject to the confirmations and consequent reconciliation if any.
The company provides Information Technology Support service. Considering the overall nature the
management is of the opinion that the entire operation of the company falls under one segment and
as such there is no separate reportable segment for the purpose of disclosure as required as per IND
AS 108
As per disclosure received from the management there are no contingent liabilities as on
31.03.2024.
Corporate Social Responsibility expenditure (CSR)
The company is not required to spend towards Corporate social responsibility (CSR) as per sec 135 of
the Companies Act 2013 since there is no average profit in the last three years calculated as per the
provisions of the Act.
4) Previous year's figures have been regrouped and rearranged wherever necessary.
ForR. B. Pandya & Co. FOR AND ON BEHALF OF THE BOARD
Chartered Accountants
Firm Registration No.: 107331W
Sd/- Sd/- Sd/
Rajesh B Pandya RAMESH SUNDARAM SABEEN M. IQBAL
Proprietor Director Director
Membership No.: 033788 DIN : 03268129 DIN : 03557534
UDIN : 24033788BKEIQR6854
PLACE: MUMBAI
DATE :28th May 2024 Sd/-
SHWETA SARAF
Company Secretary
DATE :28th May 2024
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