f) Provisions, Contingent Liabilities and Contingent Assets
In the normal course of business, contingent liabilities may arise
from litigations and other claims against the Company. Where the
potential liabilities have a low probability of crystallizing or are
very difficult to quantify reliably, we treat them as contingent
liabilities
A provision is recognized if, as a result of a past event , the
Company has a present legal obligation that can be estimated
reliably, and it is probable that an outflow of economic benefits
will be required to settle the obligation. Provisions (excluding
retirement benefits and compensated leave) are not discounted to
its present value and are determined by the best estimate of the
outflow of economic benefits required to settle the obligation at
the reporting date. These are reviewed at each reporting date
adjusted to reflect the current best estimates.
Contingent liability is disclosed when the Company has a possible
obligation or present obligation and it is probable that a cash flow
will not be required to settle the obligation.
Contingent assets are not disclosed in the financial statements
unless an inflow of economics benefits is probable.
g) Earnings Per Share
Basic and Diluted Earnings per share is calculated by dividing the
net profit attributable to equity shareholders by weighted average
number of equity shares/dilutive potential equity shares
outstanding as at end of the reporting period as the case may be.
h) Cash Flow
Cash flows are reported using the Indirect Method, whereby
profit/loss before tax is adjusted for the effect of transactions of
non-cash nature and any deferrals or accruals of past or future
cash receipts or payments and items of income or expenses
associated with investing or financial cash flows. Cash flows from
operating, investing and financial activities of the Company are
segregated based on the available information.
For the purpose of cash flow statement, Cash and cash
equivalents comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which
are subject to an insignificant risk of changes in value, net of
outstanding bank overdrafts, if any, Bank overdraft are disclosed
within borrowings in current liabilities in the Balance Sheet.
21.2 Contingent liabilities are all Nil (Previous year Nil).
21.3 There are no Micro, Small & Medium enterprises to whom company owes dues, which are
outstanding for more than 45 days as at 31st March, 2025.This information is required to
be determined under the Micro, Small & Medium Enterprise Development Act 2006 and has
been determined to the extent such parties have been identified on the basis of
information available with the company.
21.4Due to Small Scale Undertakings to the extent and as such parties have been identified
from available information as on 31st March, 2025 and outstanding for more than 30 days
are Nil,
21.5 Balances of trade receivables, trade payables, advances, advances from customers are
subject to confirmation.
21.6 Inventories includes 623 Debentures of a body corporate which has been redeemed in
three installments dated 23.04.1999, 23.04.2000 & 23.04.2001 respectively. Redemption
proceeds for the same are yet to be received.
Related party disclosure as identified by the management in accordance with
the Accounting Standard (AS) 18 on “Related Party Disclosures”.
There are no related parties transactions as such,
21.8 Business Segments:
Based on the nature of activities, risk and rewards and organization structure,
the Company has a single segment . Therefore, the Company's business does
not fall under different business segments as defined by “AS-17 “Segment
Reporting” issued by the Institute of Chartered Accountants of India.
Geographic Segments:
The Company operates predominantly with the geographical limits of India. '
21.9 The Company advanced a sum Rs 1,125.00 Lakhs (Rsl,125.00 Lakhs ) in favour
of Asset Reconstruction Company (India) Limited (ARCIL) towards part
consideration of settlement of dues of their respective guarantors namely M/s
Uni worth Limited, M/s. Uniworth International Limited, M/s. Indoworth India
Limited and M/s Uniworth Textiles Limited.
21.10 A sum of Rs 137.13 Lakhs (Rs137.13 Lakhs) paid to respective Banks towards
part consideration for settlement of dues of other entities and their respective
guarantors namely Uniworth Limited M/s Uniworth Limited, M/s Uniworth
International Limited, M/s Indoworth India Limited and M/s Uniworth Textiles
Limited.
21.11 Rs 1,298.50 Lakhs ( Previous year Rs 1,298.50 Lakhs) received from body
corporate for meeting the obligation towards ARCIL.
ii) Fair value hierarchy
This section explains the judgements and estimates made in determining the
fair values of the financial instruments that are (a) recognized and measured at
fair value and (b) measured at amortised cost and for which fair values are
disclosed in the financial statement .To provide an indication about the
reliability of the inputs used in determining fair value, the company has
classified its financial instruments into the three levels prescribed under the
accounting standards
Level 1:
Level 1 hierarchy includes financials instruments measured using quoted prices.
This includes listed equity instruments that have quoted price. The fair value
of all equity instruments which are traded in the stock exchanges is valued
using the closing price as at the reporting period.
Level 2:
The fair value of financial instruments that are not traded in an active market
is determined using valuation techniques which maximise the use of observable
market data and rely as little as possible on entity-specific estimates .If all
significant inputs required to fair value an instrument are observable, the
instrument is included in level 2,
Level 3:
If one or more of the significant inputs is not based on observable market data,
the instrument is included in level 3.
iii) Assets and liabilities which are measured at amortized cost for which fair
values are disclosed
All the financial asset and financial liabilities measured at amotized cost,
carrying value is an approximation of their respective fair value .
Significant estimates
The Company holds shares amounting to Rs. 26.58 (in Lakhs) in unlisted
entities. Since the shares of these unlisted entities are unquoted and being
strategic investments, there is a wide range of possible value
measurement.The management of the Company has concluded that cost
represents the best estimate of fair value within range. Therefore the
investment in Equity Shares of these unlisted entities will be carried at cost
unless there any significant change in fair value.
21.14 Additional regulatory information required by Schedule III
a) Details of benami property held- There has been no proceedings initiated or are
pending against the Company for holding benami property under the Benami
Transactions (Prohibition )Act, 1988(45 of 1988) and Rules made thereunder
b) Wilful defaulter-Company has not been declared willful defaulter by any bank or
financial institution or the lender.
c) Undisclosed income - There has been no such transactions which have not been
recorded in the books of accounts but have been surrendered or disclosed as
income during the year in the tax assessments under Income Tax Act-1961.
e) Borrowing secured against current assets The Company do not have any
borrowing secured against secured assets.
f) Compliances with layers of Companies - The Company has complied with the
number of layers prescribed under Companies Act,2013.
h) Registration of charges or satisfaction with Registrar of Companies - There are
no charges or satisfaction of charges which are yet to be registered with the
Registrar of Company beyond statutory period.
i) Valuation of PP&E and intangible assets - The Company has not revalued its
property, plant and equipment both during the current or previous year.
j) Details of crypto currency or virtual currency - The Company has not traded or
invested in crypto currency or virtual currency during the current or previous year.
25.15 Previous year figures have been regrouped/re classified to conform to this
year’s classification.
25.16 Significant accounting policies and practices adopted by the company are
disclosed in the statement annexed to these financial statements as Note 24.
For R.K.Chandak St Co For and on behalf of Board
FRN:319248E
Chartered Accountants
CA Binay Sharma H.K.Mandhre Kaushal Kumar
Partner Director Director
Membership No:052284 DIN:08396568 DIN:08035025
Place: Kolkata
Dated: 30th MAY, 2025 R.P.Mehta S.K.Rathi
CFO Company Secretary
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