13.Provisions, Contingent Liabilities, Contingent Assets and Capital Commitments:

Disputed liabilities and claims against the company including claims raised by fiscal
authorities (e.g. Sales Tax, Income Tax Excise etc.) pending in appeal / court for which no
reliable estimate can be made and or involves uncertainty of the outcome of the amount
of the obligation or which are remotely poised for crystallization are not provided for in
accounts but disclosed in notes to accounts.

However, present obligation as a result of past event with possibility of outflow of
resources, when reliable estimation can be made of the amount of obligation, is recognized
in accounts in terms of discounted value, if the time value of money is material using a
current pre-tax rate that reflects the risk specific to the liability.

No contingent asset is recognized but disclosed by way of notes to accounts.
14.Impairment of assets

Impairment loss is recognised when the carrying amount of an asset exceeds its
recoverable amount/Value in use.

Recoverable amount is determined:

a. In the case of an individual asset, a higher of the net selling price and the value in
use;

b. In the case of a cash generating unit (a group of assets that generates identified,
independent cash flows), at higher of the cash generating unit's selling price and
the value in use.

Value in use is determined as the present value of estimated future cash flows from the
continuing use of an asset and from its disposal at the end of its useful life.

15. Cash flow statement:

Cash flow statement has been prepared under the indirect method as set out in the Indian
Accounting Standard 7: "Statement of Cash Flows" as specified in Section 133 of the
Companies Act, 2013 read with Rule 7 of Companies (Accounts) Rules, 2014.