Provisions, Contingent Liabilities and Contingent Assets
A provision is recognized when the Company has a present obligation as a result of past events; 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.
Contingent Liability is disclosed in case of a present obligation arising from past events when it is not
probable that an outflow of resources will be required to settle the obligation, or a present obligation when
no reliable estimate is possible, or a possible obligation arising from past events where the probability of
outflow of resources is remote.
Contingent Assets are neither recognized nor disclosed.
LEASES
For assets acquired under operating lease, rentals payable are charged to statement of profit and loss on a
straight line basis over a lease term.
For assets acquired under finance lease, the assets are capitalized at lower of their respective fair value and
present value of minimum lease payments after discounting them at an appropriate discount rate.
Events occurring after the date of Balance Sheet
Material events occurring after date of Balance Sheet are taken into cognizance.
Cash Flow Statement
Cash Flows are reported using the indirect method, as set out in the Accounting Standard on Cash Flow
Statement (AS-3) whereby profit/Loss before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or payments.
The Cash Flows from regular revenue generating; financing and investing activities of the company are
segregated.
Earning Per Share
Basic earnings/(Loss) per share are calculated by dividing the net profit/ (Loss) for the year attributable to
equity shareholders by the weighted average number of equity shares outstanding during the year. The
weighted average number of equity shares outstanding during the year are adjusted for events of bonus
issue to existing shareholders; share split; and reverse share split (consolidation of shares).
For the purpose of calculating diluted earnings/(Loss) per share, the net profit/(Loss) for the year
attributable to equity shareholders and the weighted average number of shares outstanding during the year
are adjusted for the effects of all dilutive potential equity shares.
Note : 27 Deferred Tax
Keeping in view that company has no manufacturing activities during the year and to till date, deferred tax provision
has not been provided.
Note : 28 Disclosure under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006
Dues in respect, Micro and Small enterprises are being regularly met as per agreed terms and, as such, there remains
no liability towards interest. Principal amount/s remaining payable in respect of such parties, as at 31st March, 2024
amount Nil (Previous Year Rs. 42.08 Lacs).
In compliance with Accounting Standard AS-28 relating to "Impairment of Assets", the company has reviewed the
carrying amount of its fixed assets & Capital work in progress as at the end of the year. Based on the future strategic
plans and the valuation report of the fixed assets of the company, no impairment of fixed assets & Capital work in
progress has been envisaged at the balance sheet date.
Note : 36 Previous Year Figures
Previous year figure are regrouped, wherever necessary. Current year balance sheet dervied after taking all Ind (AS)
Notes referred to above and notes attached thereto form an integral part of financial statements
For Akanksha Chug & Associates For and on behalf of the Board of Directors
Chartered Accountants
Firm Reg. No.: 017327N
(Shruti Gupta) (Akshat Gupta)
Whole Time Director Director
(CA. Akanksha Chugh) DIN:01742368 DIN:00284927
Prop.
Membership No. : 078373
Place : Hisar (Om Parkash) (Srishti)
Date : 22nd May 2024_C.F.O._Company Secretary
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