2.17 Provisions and Contingencies

The Company recognizes provisions when there is present obligation as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. In cases where the available information indicates that the loss on the contingency is reasonably possible but the amountof loss cannot be reasonably estimated, a disclosure is made in the financial statements.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current management estimates. If it is no longer probable that the outflow of resources is not required to settlethe obligation, the provision is reversed.

A disclosure of contingent liability is made when there is a possible obligation or a present obligationthat may but probably will not require an outflow of resources.

When there is possible obligation or a present obligation in respect of which likelihood of outflow ofresources is remote, no provision or disclosure is made. Contingent assets are not recognized in the financial statements.

For Mahesh C Solanki & Co Chartered Accountants FR.No.006228C

Sd/-

CA.Vinay Kumar Jain Memb No. 232058 Partner

UDIN: 24232058BKCZSL2794 Place: Chennai Date:23-05-2024