L. Provisions and Contingent Liabilities
Provisions: Provisions are recognized when there is a present obligation 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 there is a reliable
estimate of the amount of the obligation. Provisions are measured at the best
estimate of the expenditure required to settle the present obligation at the
Balance sheet date and are not discounted to its present value.
Contingent Liabilities: Contingent liabilities are disclosed when there is a
possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non occurrence of one or more uncertain
future events not wholly within the control of the company or a present
obligation that arises from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.
M. Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or loss for the
period attributable to equity shareholders by the weighted average number of
equity shares outstanding during the period. The weighted average number of
equity shares outstanding during the period and for all periods presented is
adjusted for events, such as bonus shares, other than the conversion of potential
equity shares that have changed the number of equity shares outstanding,
without a corresponding change in resources. 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 is adjusted for the effects of all dilutive potential equity shares.
In the opinion of the Board, all the assets other than fixed assets and non-current investments
have a value on realization in the ordinary course of business at least equal to the amount at
which they are stated. The Provision of all known liabilities is adequate and not in excess of the
amount reasonably necessary.
The balances in accounts of certain unsecured loans, sundry debtors, creditors and loans and
advances are subject to confirmation, and consequent reconciliations. Adjustments in this respect
in the opinion of the management are not likely to be material and would be carried out as and
when ascertained
Notes:
1) The list of related parties above has been limited to entities with which transactions have taken
place during the year.
2) Related party transactions have been disclosed till the time the relationship existed.
NOTE 23: SEGMENT REPORTING
Information about Primary Business Segment and Secondary Geographical
Segments
The Company is engaged in the business of loans given within india, in the context of Accounting
Standard 17 on Segment Reporting, is considered to constitute a single primary and secondary
segment. Thus, the information for segment reporting not required to be disclosed.
NOTE 24: IMPAIRMENT OF FIXED ASSETS
There was no impairment loss on the fixed assets on the basis of review carried out by the
management in accordance with Accounting Standard (AS) - 28 ‘Impairment of Assets’
Previous year figures have been regrouped or rearranged, wherever considered necessary, to confirm
with the current year's presentation.
The accompanying notes are integral part of these financial statements
As per our report of even date attached
For M/s BMAKS & Associates For and on Behalf of the Board of Shikhar
Chartered Accountants Consultants Ltd
FRN No. 0121927W Sd/- Sd/-
Jeetmal Asawa Rajesh Daga
SD/- Managing Director Director
Rajesh B. Sonagra DIN: 07798244 DIN: 03249957
Partner
Mem. No: 116854 Sd/- Sd/-
UDIN: 25116854BMJKZG4564 Shekhar Asawa Rashmi Bang
CFO CS
Date: May 29, 2025 Mem. No. A57364
Place: Mumbai Date: May 29, 2025
Place: Mumbai
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