(g) Provisions of Assets
The company is not NBFC Company.
(h) statutory/ Special reserve
The Company creates Statutory / Special Reserve every year twenty per cent of its net
profit every year as disclosed in the profit and loss account and before any dividend is
declared.
ft) Employee Benefits
Company do not follow the provision of the accounting Standard-15 "Employee benefits"
as the company do not have employee more than 10 personnel's. So it is the policy of the
company that any kind of provision mentioned in the AS -15 will not be entertained. And
the company does not make provision for gratuity also.
In case the company's employee limits go beyond the prescribed limits then AS-15 for
Employee benefits will be taken into consideration. __
At/ \C\
0) Financial Derivatives and Commodity Hedging Transaction:
In respect of Derivative contracts, premium paid, gain & losses on settlement and losses on
restatement are recognized in the Statement of profit & Loss.
(k) Accounting of Inventories;
Stock in trade should be valued at cost or market price whichever is lower.
(l) Provisions, contingents Liabilities and contingent Assets
(i) A Provision is recognized when the company has present obligation as a result of past
event and it is probable that outflow of resources will be required to settle the obligation
and in respect of which a reliable estimate can be made. Provisions are not discounted to
their present value and are determined based on best estimate required to settle the
obligation at the balance sheet date. These are reviewed at each balance sheet date and
adjusted to reflect the current best estimates.
pi) Contingent Liabilities are disclosed separately by way of note to financial statements
after careful evaluation by the managements of the facts and legal aspects of the matter
involved in case of:
(a) A present obligation arising from the past event, when it is not probable that
an outflow of resources will be required to settle the obligation.
(b) A possible obligation, unless the probability of outflow of resources is
remote.
(iii) Contingent Assets are neither recognized, nor disclosed in the financial statements.
(m) Taxation
Provisions for current tax is made in accordance with and at the rates specified under the
Income Tax Act, 1961, in accordance with Accounting Standard 22- 'Accounting for taxes
on Income', issued by the Institute of Chartered Accountant of India.
(n) Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss for the year
attributable to equity shareholders (after deducting attributable taxes) by the weighted
averages number of equity shares outstanding during the year.
For the purpose of calculating diluted 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 diluted potential equity
shares.
(o) Cash and Cash Euulvalentt
Cash and cash equivalents in the cash flow statements comprise cash at bank and in hand
and highly liquid investments that are readily convertible into known amount of cash.
C.-J
21. Previous year's figures have been reworked, regrouped, & reclassified wherever necessary
to confirm to the current year presentation.
22. During the year, the corporate insolvency resolution process (CIRP) initiated against the
company vide CP(IB)/159/AHM/2023 of NCLT Ahmedabad dated 11.10.2023. But the
director of the company has made settlement with the creditor and made an application
u/s 12A of IBC, 2016, which has been approved by NCLT Ahmedabad dated 09.10.2024.
23. In the opinion of Board of Director, the current Assets, loans & advances have a value on
realization in the ordinary course of business at least equal to the amount at which these
are stated.
24. During the year.the Company has purchased shares Quoted/unquoted and Commodities
(If Any] has been considered as stock in trade by the Management
25. During the year, the company has not been traded in F& 0's.
26. Contingent liabilities and pending litigations;
There is no tax demand against the company.
27. The company's business activity falls within twoprimary/ secondary business segment
viz.Finance Activity and dealing in shares & securities. The disclosure requirement of
Accounting standard (AS] -17 “Segment Reporting "Issued by the Institute of chartered
Accountants of India, therefore is given below:
28. Auditor’s remuneration:
Particulars 2023-24 2022-23
Statutory Audit 1,00,000/- 51,000/-
Tax Audit Fees NIL NIL
29. Information as required by Non-Banking Financial (Non Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Direction, 2007 is Furnished vide Annexure
-1 Attached Herewith.
30. Information as required by Non-Banking Financial Companies -Corporate Governance
(Reserve Bank) Direction, 2015 is Furnished vide Annexure -II Attached Herewith.
32. Related Party Disclosure:
No Related party relationship is as identified by the Company and relied upon by the
auditor.
The Company estimates the deferred tax created / (credit) using the applicable rate of Taxation
based on the impact of timing Difference s between financial Statements and Estimated taxable
Income for the current Year.
34. Details of Crypto / Virtual Currency
There were no Transaction and Financial Dealing in Crypto / Virtual Currency during the Financial
Year 2023-24.
38. There are no micro, Small and Medium Enterprises, to whom the Company owes dues which
outstanding for more than 45 days as at 31“ March 2024. This information as required to be
disclosed under the micro, small and medium Development Act. 2006 has been determined to
the extent such parties have been identified on the basis of information available with
company.
IN TERMS OF OUR REPORT OF EVEN DATE ANNEXED.
FOR GSA & ASSOCIATES LLP FOR TIAAN CONSUMER LIMITED
CHARTERED ACCOUNTANTS
FRN: 000257N/N500^ .
CA. MANIrlDRA K T1WAR1 RArtfflAV GUJRAL MUNESH KUMAR
(PARTNER) (MANAGING DIRECTORS CFO) (DIRECTOR)
M.NO. 501419 DIN:09688181 DIN:09698731
2MS’0lWiqflK.^3T95'9-L
PLACE: New Delhi
DATE: 28.11.2024
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