Provisions
Provisions are recognized when, as a result of a past event, the Company has a legal or constructive obligation; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be reliably estimated. The amount so recognized is a best estimate of the consideration required to settle the obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation.
In an event when the time value of money is material, the provision is carried at the present value of the cash flows estimated to settle the obligation.
In terms of our report attached As per our report of even date
For and on behalf of the Board of Directors For N NARESH & CO
Chartered Accountants FRN 011293S
Place : Bengaluru DIWAKAR S SHETTY KARTIK NAYAK PRAVEEN MALLY
Date : 17th May, 2024 Executive Chairman Jt. Managing Director Jt. Managing Director
DIN No. : 00432755 DIN No. : 00477686 DIN No. : 00798354
VILAS DINGRE JYOTI KUMARI S.VENKATESAN
Chief Financial Officer Company Secretary Partner M.No.025859
M. No.A37403
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