14 PROVISIONS, CONTINGENT LIABILITY AND CONTINGENT ASSETS

Provision is recognized in the accounts when there is a present obligation as a result of past event(s) and it is
probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be
made. Provisions are not discounted to their present value and are determine on the best estimate require to
settle the obligation at the reporting date. These estimates are review at each reporting date and adjusted to
reflect the current best estimates.

Contingent liabilities, which are not, provided in the accounts as on Balance Sheet date against Excise
Demand of Rs 168,000/-, ESIC Demand Rs. 6,66,800 /-, VAT Tax Demand (F.Y. 2016-17) of Rs. 53118/- and
Central Sales Tax Demand (F.Y. 2016-17) of Rs. 195497/-, VAT Tax Demand (F.Y. 2017-18) of Rs. 126035/-,
Income Tax Demand (F.Y. 2011-12) of Rs.15483340/-

Contingent assets are neither recognized nor disclosed in the financial statements.

15 CASH FLOW STATEMENTS

Cash Flow Statement has been prepared under Indirect Method as set out in the Indian Accounting Standard-7
specified in Companies act, 2013 read with relevant rules and as required by the Securities and Exchange
Board of India.

16 RESEARCH & DEVELOPMENT

The Company has not incurred any expenditure on research & development activity.

(i) Cash Flow Statement (Ind AS-7)

Cash Flow Statement has been prepared under the “Indirect Method” as set out in the Indian Accounting
Standard (Ind AS-7) issued by “The Institute of Chartered Accountants of India”.

(ii) Provision for Income Tax had been made in pursuance to section 115JB of the Income Tax Act, 1961.in the
Balance Sheet made for Financial Year 2024-2025 (i.e. ending on 31-03-2025).

(iii) Auditors’ Remuneration:

(v) Income Tax assessment has been completed up to Assessment Year 2024-25 and Sales Tax Assessment has
been completed up to Accounting Year 2017-2018 (1st Quarter).

(vi) Balance of Sundry Debtors/ Creditors; Loans & advances are subject to confirmation.

(vii) Debtors which are outstanding from long time are fully realizable, however, confirmation letter has been send
to all debtors, some of them have confirmed. However, during the year the company has received some part
payments from all major debtors and expecting that remaining balance will be recovered in the coming
financial year. Further The company has filled suit on some debtors for recovery and director has confidence
for the recovery hence no provision has been made for that.

(viii) Company is in the Process of compiling the information of MSMED Act. However the matter of interest is not
material in the opinion of the board of directors.

(ix) Related Party Disclosure (As identified by the Management)

As per Indian Accounting Standard, the disclosures of transactions with the related parties are given below:

(xvi) IMPAIRMENT OF ASSETS

No material Impairment of Assets has been identified by the Company and as such no provision is required as
per relevant provisions issued by the Institute of Chartered Accountants of India.

(xvii) The Previous year figures have been regrouped / reclassified, wherever necessary to confirm to the current
year presentation.

(xviii) Other Non-Current Assets (Notes No. 5} of Balance Sheet: Upto the end of the current year Company
has given of Rs. 245.80 Lacs (in words Two Crores Forty Five Lacs and Eighty Thousand! as security
deposit to Mr. Jav Kothari against utilization of Brand owned by Mr. Jai Kothari as per Brand Utilisation
Agreement approved by Board of Directors. As per agreement company will give Rs. 3.00 Crores (in
words Three Crores) for use of Brand (PANJON. SWAP, PERCY etc! to Mr. Jav Kothari as a Interest
Free Security Deposit. As per agreement. Deposit will refund when company will surrender use of
Brand.

(xix) Other Current Liabilities (Notes No. 16) of Balance Sheet: Company has received of Rs. 3366398/- from
Mr. Jay Kothari (Director) against preferential allotment to promoter, approval from BSE on Dated 20.01.2024
vide Letter No. LOD/PREF/CP/FIP/1084/2023-24

1 There is no title deeds of immovable property which are not held in name of the company.

2 The Company has not revalued its Property, Plant and Equipment.

3 The company has not granted Loans or Advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under
Companies Act, 2013,) either severally or jointly with any other person.

4 There is no capital work in progress undergoing in the company at the balance sheet date.

5 There is no Intangible assets under development.

6 There is no benami property held by the company.

7 The company has not borrowings from banks on the basis of security of current assets.

8 The company has not been declared wilful defaulter by any bank or financial institution or government or government authority.

9 The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

10 There are no charges or satisfaction of charge which is yet to be registered with Registrar of Companies.

11 The company has not subsidiary companies as at the balance sheet date.

12 There is no scheme of arrangement approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

13 Information pursuant to clause no. xxiii to additional regulatory information required under schedule iii of companies act, 2013 regarding Utilisation of
Borrowed funds and share premium is not applicable.

AS PER REPORT OF EVEN DATE FOR & ON BEHALF OF THE BOARD

For: GIRIRAJ & LOHIYA
CHARTERED ACCOUNTANTS

FRN: 006031 C

sd sd

(NATWAR LAL BHATIA) JAY KOTHARI ANJU KOTHARI

PARTNER MANAGING DIRECTOR OF DIRECTOR

M No: 076076

PLACE: INDORE
DATE : 29.05.2025