3.8 Provisions, Contingent liabilities and contingent assets
A provision is recognized if, as a result of a past event, the Company has a present obligation that can
be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provisions are recognized at the best estimate of the expenditure required to settle
the present obligation at the reporting date.
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. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be
measured reliably. The Company does not recognize a contingent liability but discloses its existence
in the financial statements.
A contingent asset is not recognised in the financial statements, however, it is disclosed, where an
inflow of economic benefits is probable.
Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.
3.9 Cash and cash equivalents
Cash and cash equivalents includes cash on hand, balances with bank and other short term highly
liquid investments with original maturities of three months or less that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes.
3.10 Cash flow statement
Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the
effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated with investing or financing cash
flows. The cash flows are segregated into operating, investing and financing activities.
3.11 Employee Benefits
Short-term employee benefits are expensed as the related service is provided. Payment of Gratuity
Act is not applicable to the company as numbers of employees are less than the minimum required
for applicability of Gratuity Act.
3.12 Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to
equity shareholders (after deducting attributable taxes) by the weighted-average number of equity
shares outstanding during the period. The weighted-average number of equity shares outstanding
during the period is adjusted for events including a bonus issue.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period
attributable to equity shareholders and the weighted-average number of shares outstanding during
the period are adjusted for the effects of all dilutive potential equity shares.
3.13 Events after the reporting period (Ind AS 10)
Events occurring after the reporting date that provide additional evidence of conditions existing at
the reporting date are adjusting events and are reflected in the financial statements; material
non-adjusting events are disclosed.
3.14 Rounding and presentation
Amounts are presented in INR in ^ '00 and rounded to the nearest hundred with two decimals. The
unit of rounding is applied consistently across the primary statements and notes.
23. Financial Instruments- fair valuation and risk management
(a) Capital Management
The Company's objectives when managing capital is to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits
Gearing Ratio is NIL as there is no debt in the company as on 31.03.2025 and 31.03.2024.
(b) Financial risk management objective and policies
This section gives an overview of the significance of financial instruments for the Company and provides additional information on the balance sheet. Details of significant accounting
policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial
liability and equity instrument are disclosed in Note No 3
(c ) Financial assets and liabilities:
The accounting classification of each category of financial instruments and their carrying amounts, are set out below:
Credit Risk:
Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due, causing financial loss to the company. Credit risk arises from company's
activities in investments in securities. The Company has a prudent and conservative process for managing its credit risk arising in the course of its business activities.
Liquidity Risk:
Liquidity risk arises from the Company's inability to meet its cash flow commitments on time. Prudent liquidity risk management implies maintaining sufficient stock of cash and marketable
securities. Company accesses financial markets to meet its liquidity requirements.
The Company's liquidity is managed centrally with forecasting their cash and liquidity requirements.
25. The Company don't have any foreign currency exposure during the year.
26. Additional disclosures with respect to amendments to Schedule III
a) The Company had not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or
jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.
b) The Company was not holding any benami property and no proceedings were initiated or pending against the Company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
c ) The Company had not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the Companies Act, 2013) or consortium thereof, in accordance with
the guidelines on wilful defaulters issued by the Reserve Bank of India.
d) The Company did not have any transactions with struck off companies under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
e) The Company did not have any charges or satisfaction which were yet to be registered with ROC beyond the statutory period
f) The Company has not traded or invested in Crypto currency or Virtual Currency during year ended 31 March, 2025.
g) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) any funds to or in any other persons or entities,
including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
h) The Company has not received any funds from any persons or entities, including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the
Company shall, 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 provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.
i) The Company did not have any transaction which had not been recorded in the books of account that had 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).
28. Previous year’s figures have been regrouped / reclassified/ rearranged wherever necessary to correspond with the current year’s classification/disclosure.
29. The Financial Statements were approved by the Board of Directors and authorised for issue on 30th May, 2025.
Significant Accounting Policies & Notes 1 - 29
The accompanying notes are an integral part of the financial statements.
As per our report of even date
For, P Khetan & Co. For and on behalf of the Board
Chartered Accountants
(FRN.- 327386E) sd/- sd/-
Vinay Kumar Agarwal Suman Agarwal
Director Director
(DIN: 00646116) (DIN: 02307222)
sd/-
(CA. Pankaj Kumar Khetan)
Partner
Membership no.: 066080
sd/- sd/-
Place: Kolkata Ashish Jindal Riddhi Kanodia
Date: 30.05.2025 (Chief Financial Officer) (Company Secretary)
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