(m) Provisions and Contingencies
A provision is recognized when the Company has a present obligation as a result of past events and 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. Provisions (excluding retirement benefits) are not discounted to their present value and
are determined based on the best estimate required to settle the obligation at the Balance Sheet date.
These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent
liabilities are disclosed in the Notes.
(n) Segment Reporting
Geographical Segment
Company’s entire business is conducted within India but there are no separate reportable geographical
segments.
(o) Related Party Disclosure
The Company has entered into transaction with related parties during the current year; however the terms are
not prejudicial to the interest of the company.
(p) Lease
Leases are classified as finance leases whenever the terms of the lease, transfers substantially all the risks and
rewards of Ownership to the lessee. All other leases are classified as operating leases.
Operating lease payments are recognized as an expense in the Statement of Profit and Loss on a straight-line
basis over the lease term.
(q) Exemptions and exceptions availed
Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the
transition from previous GAAP to Ind AS.
(r) Deemed cost:
Ind AS 101 permits a first - time adopter to elect to continue with the carrying value for all of its property,
plant and equipment as recognised in the financial statements as at the date of transition to Ind AS, measured
as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary
adjustments for de - commissioning liabilities.
Accordingly, the Company has elected to measure all of its property, plant and equipment, intangible assets
and investment property at their previous GAAP carrying value.
(s) Leases
Appendix C to Ind AS 17 requires an entity to assess whether a contract or arrangement contains a lease. In
accordance with Ind AS 17, this assessment should be carried out at the inception of the contract or
arrangement. Ind AS 101 provides an option to make this assessment on the basis of facts and circumstances
existing at the date of transition to Ind AS, except where the effect is expected to be not material.
(t) Estimates
An entity’s estimates in accordance with Ind ASs at the date of transition shall be consistent with estimates
made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in
accounting policies), unless there is objective evidence that those estimates were in error. IndAS estimates as
at 1 April 2017 are consistent with the estimates as at the same date made in conformity with previous
GAAP.
(u) Employee benefits
The employee benefits plan as per Ind AS 19 is given as under
(v) OTHER NOTES
i) Capital Commitment
The estimated amount of contracts remaining to be executed on capital account not provided for as
on the Balance Sheet dated in NIL.
ii) Details of Benami Property Held
No proceedings have been initiated or pending against the company for holding any benami
property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made
thereunder.
iii) Borrowings from Banks for Credit Facility
The Company has not availed off any credit facilities from banks or financial institutions against the
security of current assets during the year.
iv) Wilful Defaulter
The company has not been declared as wilful defaulter by any bank or financial institution or any
lender during the year.
v) Relationship With Struck Off Companies
The company has no transactions with the companies struck off under section 248 of Companies
Act, 2013 or section 560 of Companies Act, 1956 during the year.
vi) Registration of Charges or Satisfaction with Registrar of Companies (Roc)
During the year, there are no instances of any registration, modification or satisfaction of charges
which are pending for registration with Registrar of Companies (ROC) beyond the statutory period.
vii) Compliance with Number of Layers of Companies
The company is in compliance with the relevant provisions of Companies Act, 2013 with respect to
the number of layers under clause (87) of section 2 of the Companies Act 2013 read with Companies
(Restriction on number of layers) Rules, 2017.
viii) Utilisation of Borrowed Funds and Share Premium under Rule 11(E)
No funds 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(s) or entity (ies),
including foreign entities (“intermediaries”) with the understanding, whether recorded in writing or
otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the
company (“Ultimate Beneficiaries”)
The Company has not received any fund from any party(s) (Funding Party) with the understanding
that the Company shall whether directly or indirectly lend or invest in other persons or entities
identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee,
security, or the like on behalf of the Ultimate Beneficiaries.
ix) LEASES:
The company has recognised ‘Right of use’ lease factory premises under fixed assets with
corresponding lease liabilities as per the requirement of IND AS 116.
The Lease liabilities are recognised as under: -
xi) Previous year figures are regrouped wherever necessary to make them comparable with the figures
of the current year.
xii) All amounts disclosed in the financial statements and notes have been rounded off to the nearest
lakhs as per the requirement of Schedule III, unless otherwise stated.
xiii) Balances of loans/advances/ sundry creditors, debtors and fixed assets are subject to reconciliations,
confirmation and adjustment, if any.
xiv) In the opinion of Board of Directors the Current Assets, Loans and advances are stated at net
realizable value in the ordinary course of business.
xv) Certain legal cases are pending with the court of law, the quantum of the same is not ascertainable.
However, the management is of the opinion that, decision of the court will be in favor of the
company.
xvi) In the absence of adequate information regarding the MSME Creditors, the Company is unable to
give full particulars as required by Notification No. GSR - 376 (E) dated 22nd May 2002 issued by
the Department of Company Affairs, Ministry of Law and Justice and Company Affairs.
xvii) As there is no Managing Director in the company, hence terms of Section 197 and 198 of the
Companies Act, 2013 are not applicable to the Company.
xviii) Unless otherwise stated, in the opinion of the Board of Directors, the current assets, loans and
advances are approximately of the value if realized in the ordinary course of business. The
provisions for all known liabilities made are adequate and are neither short nor in excess of the
amount reasonably necessary.
xix) Figures in Brackets in the Notes forming part of the accounts relate to the previous year.
For Jayesh Dadia & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants
FRN No.: 121142W
Sd/- Sd/-
Sd/- Sunder Moolya Deepak P. Kamble
Whole Time Director Executive Director
Samir Shah
Partner Sd/- Sd/-
Membership No.: 124298 Swati Shah Dinesh Gurav
Place: Mumbai Company Secretary CFO
Date:30/05/2025 Date:30/05/2025
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