1. Taxation

Tax comprises of Current income tax and Deferred tax. Current income tax in the books is recognised by opting the provisions of section 115BAA as introduced vide Taxation Laws (Amendment) Ordinance of 2019 to the Income Tax Act, 1961.

Deferred Tax Liability/Asset is recognised as per AS-22 (Accounting for Taxes on Income) arising out of temporary timing differences. During the year under consdieration, as per AS-22 "Accounting for Taxes on Income" issued by ICAI, company has recognised deferred tax assets and hence, not recognised in the books of accounts.

2. Impairment of Assets

The carrying amounts of the company's assets are reviewed at each balance sheet date. If any indication of impairment exists, an impairment loss is recognized to the extent of the excess of the carrying amount over the estimated recoverable amount.

3. Provisions. Contingent Liabilities and Contingent Assets

A provision arising out of a present obligation, as a result of past event, is recognised only when it is probable that an outflow of resources will be required to settle the obligation and the amount can be reasonably estimated.

Wherever, there is a possible obligation that may but probably will not require an outflow of resources, the same is disclsoed by way of contingent liability.

The Company claims to have no Contingent liability and hence, it is not provided for in the books of accounts. Contingent assets are not recognised in the financial statements.

4. Business originating and recovery cost.

Business originating and recovery cost representing the expenditure incurred for sourcing, procesing, recovery etc. are accounted in the year of incurring.

5. Previous Year's Figures

Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.

(xiii) Corporate Social Responsibility (CSR)

The average profit before tax of the Company for the last three financial years was ? 634.56 lacs, on the basis which the Company was required to spend ? 12.69 lacs towards CSR activities for the current financial year (March 31, 2022: ? 12.40 lacs).

22 Additional Regulatory Information:

(i) The company does not have any immovable property whose title deeds are not in the name of the company.

(ii) The Company has not revalued any of its Property, Plant and Equipments.

(iv) CWIP Ageing Schedule

In absence of any Capital Work In Progress such details are not applicable.

(v) There is no intangible asset under development as at the year-end.

(vi) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(vii) The company does not have sanctioned working capital limits during the year, from banks or financial institutions on the basis of security of current assets and hence, it is not required to submit quarterly statements of current assets with the Banks or financial institutions for its borrowings.

(viii) The Company is not declared wilful defaulter by any bank or financial institution or other lender.

(ix) The Company does not have any transactions with companies struck off u/s. 248 of the Companies Act, 2013 or u/s. 560 of the Companies Act, 1956.

(x) No charges or satisfaction is pending to be registered with Registrar of Companies beyond the statutory period.

(xi) The company does not have any subsidiary and hence, there is no violation with regard to the number of layers prescribed u/s. 2(87) of the Act r.w. Companies (Restriction on number of Layers) Rules, 2017.

11 Reasons for significant variation in ratios:

The reasons for variation in excess of 25% in various ratios are explained as follows :-

Interest Expense/Interest Income

The ratio has decreased during the year, on account of material decrese in interest expenses due to complete repayment of unsecured loans during the year under consideration.

23 No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

24 Utilisation of Borrowed funds, share premium or any other source or kind of fund:

(A) Company has not advanced or loaned or invested any funds to any person(s) or entity(ies) including foreign entities (Intermediaries) with the understanding that the Intermediary shall -

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoevr by or on behalf of the company (Ultimate beneficieries) or

(ii) provide any guarantee, security or the like to or on behalf of the Untimate Beneficiaries.

(B) Company has not received any funds from any person(s) or entity(ies) including foreign entities (Funding Party) with the understanding that the company shall -

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoevr by or on behalf of the Funding Party (Ultimate beneficieries) or

(ii) provide any guarantee, security or the like to or on behalf of the Untimate Beneficiaries.