o) Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognized when there is 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. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimate.
A present obligation that arises from past events whether it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent Liabilities are also 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.
Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as contingent liabilities. Contingent liabilities are not recognized but are disclosed and contingent assets are neither recognized nor disclosed, in the financial statements.
a) The Company has main operating segment of giving computers and peripherals on rental basis and it has one additional operating and reporting segment of trading in computer and peripherals. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company.
b) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have 'been disclosed as "Unallocable".
c) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as unallocated one. Entire operations of the company are in Maharashtra, Mumbai and as such there is no geographical allocation of segment.
The company has not held any benami property during the year ended 31.03.2024 or year ended 31.03.2023.
There is no proceedings have been initiated or pending against the company for holding any benami property under the Benami Transaction (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
Note 26 (e) Title deeds of Immovable Property not held in name of the Company
The company does not hold any such immovable property._
Note 26 (f) Compliance with number of layers of companies :
Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read wjth_Com£aniesjRestrictjon_on_mumberiof_Layers]_RulesL^01^^^^^^^^^^^^^^^^^^^^^^^^^^^_
Note 26 (g) Compliance with approved Scheme(s) of Arrangements_
Company has not prepared any scheme of Arrangements in terms of sections 230 to 237 of the Companies
Act, 2013._
Note: 27_
(h) Utilisation of borrowed funds and Share Premium
a) During the year, no funds have been advanced or loaned or invested from borrowed funds any other sources or kind of funds by the Company to or in any other persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, except the money raised by way of intital public offer (including security premium) in the preceeding year have been applied for the purpose of which those were raised.
b) During the year, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Note 28: OTHER DISCLOSURES_
1. In the opinion of the management, the current assets, loans & advances are approx. of the same Value as stated, if realised in the ordinary course of business.
2. Trade Payables, Trade Receivables and Loans & Advances are subject to confirmation and reconciliation, if any.
3. Provisions for all known liabilities are adequate and not in excess of amount reasonably necessary
4. Previous years' fiures have been regrouped / rearranged whereever found necessary.
As per our report of even date attached.
For VINOD KUMAR JAIN & CO., For SILICON RENTAL SOLUTIONS LIMITED
CHARTERED ACCOUNTANTS FRN : 111513W
SD/- SD/-
VINOD KUMAR JAIN Sanjay Harish Motiani Nikhil Sanjay Motiani
Proprietor. M. No.: 036373 Managing Director Director
DIN No.07314538 Din No.07570586
SD/- SD/-
MUMBAI Subhash Apuroy Shenoy Himanshi Tiwari
DATED : 30th May, 2024 Chief Financial Officer Company Secretary
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