10. PROVISIONS
A provision is recognised when an enterprise has a present obligation as a result of past event 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 are determined based on management estimate required to settle the obligation at the balance sheet date.
11. TAXES ON INCOME
Tax expense comprises current tax & deferred tax. Current tax is measured at the amount expected to be paid to the tax authorities, using the applicable tax rates. Deferred tax assets and liabilities are recognised for future tax consequences attributable to timing differences between taxable income & accounting income that are capable of reversal in one or more subsequent years and are measured using relevant enacted tax rates.
12. SEGMENT REPORTING
Operating segments are reported in a manner consistent with the internal reporting provided to the management. Based on the company's business model, repair contracts have been considered as the only reportable business segment and hence no separate disclosures provided in respect of its single business segment.
13. CASH FLOW STATEMENT
Cash Flows are reported using the indirect method, whereby profit/ loss before extraordinary items and tax is adjusted for the effects of transactions of non cash nature. The cash flows from operating, investing and financing activities of the company are segregated based on the available information In the cash flow statement, cash and cash equivalents include cash in hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less.
Note 36
The Board of Directors, inits meeting on 02/08/2023 has issued a Final Dividend of Rs. 2/- per equity share forthe financial year ending 31st March, 2023, after the approval of shareholders at its Annual General Meeting held on 28/09/2023.
Note 37
The Company has been sanctioned working capital limits from Banks less than Rs.5 Crores.
Note 38
The Company has not been declared as a wilful defaulter as prescribed by Reserve Bank of India.
Note 39
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, 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.
Note 40
No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 41
The Company does not have any Benami property. No proceeding has been initiated or pending against the Company for holding any Benami property. Further the title deeds of the immoveable property is held in the name of the Company.
Note 42
The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as search or survey or any other relevant provisions of the Income Tax Act, 1961)
Note 43
Relationship with Struck off Companies : During the year, the Company had no transactions with a company which was struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956
Note 44
The dividend declared or paid during the year by the company is in accordance with section 123 of the Companies Act, 2013 Note 45
Previous year’s figures have been regrouped / reclassified wherever necessary to correspond with the current year’s classification / disclosure.
As per Our report of even date ivor For and on behalf of Board of Directors
_ . ANTH°NY c »1„ nmn NELSON LIONEL Of**,-. byNasONuoNi
For R.S.Prabhu & Associates. DESOUZA **’» fernandes rs?-,.,-.-,.-
Chartered Accountants Ivor Desouza Nelson Fernandes
Firm Registration No. 127010W Director Managing Director
ANITHA Digitally signed by ANITHA DIN 00978987 DIN 00985281
VISWANATHAN nllnl lnM Dgtally signed by SIMP I
VISWANATHAN Date:2024.05.2819:43:01 05'30' SAMANO DH=y„«
ANILGULWANI D:K;4nsl8by95N40f.LWANI 1 *°530'
CA.Anitha Viswanathan
Partner Anil Gulwani Simpi Sahani
M. No 113512 Chief Financial Company Secretary
Officer
|UDIN: 24113512BKABSF1114
Place : Vasai Road (East) Place : Mumbai
Date : 28th May, 2024 Date : 28th May, 2024
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