q. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event, it is probable that an outflow of resources embodying economic benefits will
be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation. When the Company expects some or all of a provision to be reimbursed, the
reimbursement is recognised as a separate asset, but only when the reimbursement is virtually
certain. The expense relating to a provision is presented in the statement of profit and loss net of
any reimbursement.

r. Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not probable
that an outflow of resources will be required to settle the obligation. The Company does not
recognize a contingent liability but discloses its existence in the financial statements.

s. Significant Accounting Judgements, Estimates and Assumptions

The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and
the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in future periods.

(i) Estimates and Assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty
at the reporting date, that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year, are described below.
The Company based its assumptions and estimates on parameters available when the
financial statements were prepared. Existing circumstances and assumptions about future
developments, however, may change due to market changes or circumstances arising that are
beyond the control of the Company. Such changes are reflected in the assumptions when they
occur.

a. Taxes

Deferred tax assets are recognised to the extent that it is probable that taxable profit will be
available against which the losses and tax credits can be utilised. Significant management
judgement is required to determine the amount of deferred tax assets that can be recognised,
based upon the likely timing and the level of future taxable profits together with future tax
planning strategies.

b. Expected Credit Loss Model

The Company applies expected credit loss (ECL) model for measurement and recognition of
impairment loss on the Financial Assets. The Company follows 'simplified approach' for
recognition of impairment loss allowance on trade receivables. As a practical expedient, the
Company uses historically observed default rates over the expected life of the trade
receivables and is adjusted for forward-looking estimates to determine impairment loss
allowance on portfolio of its trade receivables.

t. Exceptional Items

When items of income and expense from ordinary business activities or due to transactions that
are distinct from the ordinary activities and are not expected to recur frequently or regularly and
are of such size, nature or incidence that their disclosure is relevant to explain the performance of
the enterprise for the period, the nature and amount of such material items are disclosed
separately as exceptional items. In nearly all cases, an event or transaction was considered to be
part of the normal operating activities of a business, and so was reported as such. An exceptional
item used to be separately stated in the statement of profit & loss.

(ii) Terms / rights attached to Equity shares

The Company has only one class of equity shares having a par value of ?10/- per share. Each equity shareholder is
entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The Company has not
declared any dividends for the year ended 31st March, 2024. In the event of liquidation of the Company, the holders of
the equity shares will be entitled to receive the remaining assets of the company , after distribution of all preferential
amounts. The distribution will be in proportion to the numbers of equity shares held by the share holders.

iii) The Company does not have any Holding/ Ultimate Holding Company. As such, no shares are held by them
or their Subsidiaries/ Associates.

iv) None of the Shareholders holding more than 5% shares in the issued, subscribed and paid up Equity Share
Capital of the Company.

• Additional Information as required under paragraph 5 of Part II of Schedule III to the
Companies Act, 2013 to the extent either “NIL” or “Not Applicable “has not been furnished
except payment to the Auditors.

• Additional Regulatory Information as per Schedule III of Companies Act, 2013:

a. The company has NIL liabilities associated with group of assets classified as held for sale
and non-current assets classified as held for sale.

b. The Company has not declared any dividend on Equity shares. The Company has not
issued any Preference shares.

c. The Company has not issued securities for specific purpose.

d. The Company has not borrowed any funds from banks and financial institutions for the
specific or any other purpose.

e. No procedings have been initiated or pending against Company for holding any Benami
Property under Prohibitions of Benami Transactions Act,1988 (Earliers titled as Benami
transactions (Prohibitions) Act,1988

f. The Company is not declared a wilfull defaulter by any Bank or Financial Institution or
any other lender.

g. The Company did not have any transactions with companies struck off under Section 248
of the Companies Act.

h. The company has not registered any charge or satisfaction of charge with ROC.

i. The Company has no Holding, Subsidiary or associate company and hence the company
does not have any layers prescribed under clause 87 of sub section 2 of companies act,
2013.

k. During the year no Scheme of Arrangement has been formulated by the Company or
pending with competent authority.

l. 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).

m. 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.

n. The Company has neither applied any accounting policy retrospectively, made
restatement of items of financial statement nor reclassified items of its financial
statement.

o. There is no share application money pending allotment in books of the Company during
the year.

p. The Company has not issued preference shares since inception of the Company.

q. During the year under review, the Company has not issued any Compound financial
instruments such as convertible debentures.

r. The Company has not traded or invested in crypto currency or virtual currency during the
current or previous year.

s. The Company has not revalued its property, plant and equipment or intangible assets or
both during the current or previous year.

• The Company is exposed to market risk and credit risk. The Company has a Risk management
policy and its management is supported by a Risk management committee that advises on risks
and the appropriate risk governance framework for the Company. The audit committee
provides assurance to the Company's management that the Company's risk activities are
governed by appropriate policies and procedures and that risks are identified, measured and
managed in accordance with the Company's policies and risk objectives.

a. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument
will fluctuate because of changes in market prices. Market risk comprises two types of
risk: interest rate, currency risk and other price risk, such as commodity price risk and
equity price risk. Financial instruments affected by market risk include FVTPL
investments, trade payables, trade receivables, etc.

i. The Company had made the Long-Term Investments either in quoted or unquoted
scrip's of certain companies in earlier years. The Company has fairly valued the
investments under level 1 & 3 valuation technique as stated in significant accounting
policies.

ii. In the Opinion of the Board, all the current assets, loans and advances have a value
on realisation in the ordinary course of business at least equal to the amount stated
in the Balance Sheet and all the known liabilities have been provided for, unless
otherwise stated elsewhere in other notes.

b. Credit Risks

Credit risk is the risk that counterparty will not meet its obligations under a financial
instrument or customer contract, leading to a financial loss. The Company is exposed to
credit risk from its operating activities (primarily trade receivables).

i. The Company has Other Receivables which are outstanding for a considerable period
of time and considered good for recovery by the management. For the available
exposure, the management has ensured that the Company has been continuously
persuading to settle the amount /recovered the receivables, accordingly no further
provision is being considered by the management.

ii. Certain Debit Balances as stated in the financial statements are being subject to
confirmation and reconciliation thereof, and the same have been taken as per the
balances appearing in the books. The consequent necessary adjustments, either of a
revenue nature or otherwise, if any, will be made, as and when these accounts are
reconciled and confirmed.

iii. Fair valuation adjustments pertaining to financial assets, the Company has incurred
losses which had resulted in erosion of net worth of the Company. The company
expects growth in its operations in coming years with continuous improvement in
operational efficiency. Accordingly, the financial statements have been prepared on
accrual basis under the historical cost convention and on-going concern concept,
unless otherwise stated.

• The Company has one reportable business segments i.e. Consultancy & Other Services. The
Company operates mainly in Indian market and there are no reportable geographical segments.

• The figures appearing in the Financial Statements have been rounded off to nearest rupee.

• All amounts are in Lakhs until and unless specified specifically.

• The company's accounting software has audit trail functionality (edit log). This feature
remained operational throughout the year, capturing a chronological record of all relevant
transactions processed within the software.

• Previous year's figures have been regrouped/ reclassified wherever necessary to correspond
with the current year's classification / disclosure.

Notes referred to above form an integral part of Financial Statements
As per our attached report on even date

For Mohindra Arora & Co. For and on behalf of the Board of Directors

(Chartered Accountants)

(FRN: 006551N)

Madan Gopal Arora Netra Bahadur Ranabhat Biswajit Barua

(Partner) (MD & CEO) (Director)

Membership No. 084562 (dIN: 06716666) (dIN: 06992250)

Place : Delhi Nikita Roy Sushma Rana

Date : 27/05/2024 CS CFO

Place: Kolkata Date: 27/05/2024