(xiii) Accounting for provisions, contingent liabilities and contingent assets

Provisions are recognized, when there is a present legal or constructive obligation as a result of past
events, where it is probable that there will be outflow of resources to settle the obligation and when a
reliable estimate of the amount of the obligation can be made. Where a provision is measured using the
cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash
flows. Where the effect is material, the provision is discounted to net present value using an appropriate
current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due
to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of
the Company, or where any present obligation cannot be measured in terms of future outflow of resources,
or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis
and only those having a largely probable outflow of resources are provided for.

Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is
probable

(xiv) Earnings per share

Basic Earnings per share is calculated by dividing the net profit / (loss) for the period attributable to the
equity shareholders by the weighted average number of equity shares outstanding during the period. The
Company did not have any potentially dilutive securities in any of the year presented.