2.18 Provisions and contingencies

A provision is recognised 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. 1 hese are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

A contingent liability is disclosed where, as a result of past events, there is a possible obligation or a present obligation that may, but probably wi not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outriow ot resources is remote, no provision or disclosure is made.

2.19 Leases

a) Finance lease

i) Assets taken on finance lease are capitalised at fair value or net present value of the minimum lease payments, whichever is less.

") ^Lease P^ay^{nlents are} apportioned between the finance charges and outstanding liability in respect of assets taken on lease.

b) Operating lease

i) Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased term are classified as operating lease. Lease rent are recognized as an expense in the Statement of Profit and Loss on a straight line basis over the lease term.

2.20 Earning per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Partly paid equity shares are treated as a fraction of an equity share to the extent that the) were entitled to participate in dividends relative to a fully paid equity share during the reporting year. For the purpose of calculating dilutee earnings per share, the net profit or 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.

2.21 Employee benefits

The Company has adopted the Accountmg Standard 15- Employee Benefits prescribed under the Companies (Accounting Standards) Rules

2006. 'Employee benefits include provident fund, bonus and gratuity benefits. The Company’s obligation towards various employee benefits has been recognized as follows:

Short Term Employee Benefits

All employee benefits payable wholly within twelve months of rendering the service are short-term employee benefits. Benefits such as

salaries, wages and bonus wages, etc, are recognized in the Profit and Loss statement in the period in Which the employee renders the related service. ^v .

Defined contribution plans

The Company’s contribution to provident fund are considered as defined contribution plans and are charged as an expense as -they fall due based on the amount of contribution required to be made.

Defined benefits plans

(0 For defmed-benefit plans, the amount recognised in the Balance Sheet is the present value of the defmed-benefit obligation less the fair value of any plan assets and any past service costs not yet recognised. The present value of the defmed-benefit obligation is the present value of expected future payments required to settle the obligation resulting from employee service in the current and prior periods The discount

(Company's obhgations ^ “ ^S°^Ver“ ^b°^ndS * ^{the BalanCe Sheet date with renlainin}g ^{terms to} maturity approximating those of the (n) Actuarial gams and losses in respect of post employment and other long-term benefits are charged to the Statement of Profit and Loss.

38 Other Notes

i The Company does not hold any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company or is jointly held with others.

ii The Company has not revalued any of its Property, plant and equipment during the year ended 31 March, 2024, 31 March 2023

m The Company has not granted any loans or advances which are in the nature of loans to promoters, directors, KMPs and the related parties

as defined under Companies Act, 2013, that are repayable on demand or without specifying any terms or period of repayment.

iv The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

v The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

vi The Company does not have any relationship with struck off companies.

vii The Company is in compliance with the number of layers for its holding in its subsidiary companies prescribed under clause Section 2 (87) of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

vni The Company does not have any approved scheme, to be complied with, under section.230 to 237 of the Companies Act) 2013.

ix 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.

x The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) 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 . ~ "

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xi The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

As per our report ot even date For and on behalf of the Board of Directors ^__

For KRA & Co. _VASA DENTICITY LIMITED

Chartered Accountants /Y Ov, v

Fir I Regd. No.020266N \ j

Agarwal ’

(PartneO \ Managing Director Whole Time

M.No. 510541 X_ V" *_x£iN-07487686 DIN-07484533 l

UDIN: 24510541BKAORU1267 _________

Place: New Delhi «

Dated: 16.05.2024 // O

WvQ/o ^v^T^YashankTaneja

i!< fS. ^7-^4jnp^any Secretary

^ M QMVI.No. - A71360

Vi N?V /)

utner i\otes

i The Company does not hold any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company or is jointly held with others.

ii The Company has not revalued any of its Property, plant and equipment during the year ended 31 March, 2024, 31 March 2023

iii The Company has not granted any loans or advances which are in the nature of loans to promoters, directors, KMPs and the related parties as defined under Companies Act, 2013, that are repayable on demand or without specifying any terms or period of repayment.

iv The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

v The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

vi The Company does not have any relationship with struck off companies.

vii The Company is in compliance with the number of layers for its holding in its subsidiary companies prescribed under clause Section 2 (87) of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

viii The Company does not have any approved scheme, to be complied with, under section.230 to 237 of the Companies Act' 2013.

ix 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. .

x The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) 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 .

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xi The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

As per our report of even date For and on behalf of the Board of Directors

For KRA & Co. VASA DENT1CITY LIMITED 3/jf^v

Chartered Accountants

Firm Regd. No.020266N p ^ ^ k

Agarwal Sa^ Q^Ag^wal ^^

(Partner) \v Managing Director Whole Time TVrcffStapifrrfiEg^''

M.No. 510541 ^ _v£>IN-07487686 DIN-07484533 V

UDIN: 24510541BKAORU1267 ' ^--eT-' ^ a AU

Place: New Delhi * <s .

Dated: 16.05.2024 A'

DCj','C' 'rUp^Yasliank Taneja

: < -ijjmpany Secretary

\% M OJvl.No. - A71360