Provisions involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past events and it is
probable that there will be an outflow of resources. Contingent liabilities of the
company as on March 31,2024 are as follows:
13) Related Party Disclosure
The Disclosures of Transaction with the related parties as defined in the related
parties as defined in the Accounting Standard are given in notes of accounts.
14) Accounting for Leases
A lease is classified at the inception date as finance lease or an operating lease. A
lease that transfers substantially all the risk and rewards incidental to the
ownership to the Company is classified as a finance lease.
The Company as a lessee:
i. Operating Lease: - Renta! payable under the operating lease are charged
to the Statement of Profit and Loss on a Straight-line basis over the term of
the relevant lease.
ii. Finance Lease: - Finance lease are capitalized at the commencement of
the lease, at the lower of the fair value of the property or the present value
of the minimum lease payments. The corresponding liability to the lessor
is included in the Balance Sheet as a finance lease obligation. Lease
payments are apportioned between finance charges and the reduction of
the lease obligation so as to achieve a constant rate of interest on the
remaining balance of the liability. Finance charges are charged directly
against the income over the period of the lease.
The Company has not provided any of its assets on the basis of operating lease or
finance lease to others.
15) Cashflow
Cash flows are reported using the indirect method, whereby net profit before tax is
adjusted for the effects of transactions of a non-cash nature and any deferrals of
past or future cash receipts and payments. The cash flows from regular operating,
investing and financing activities of the company are segregated.
16) Earnings Per Share
The Company reports the basic and diluted Earnings per Share (EPS) in
accordance with Accounting Standard 20, "Earnings per Share” Basic EPS is
computed by dividing the Net Profit or Loss attributable to the Equity
Shareholders for the year by the weighted average number of equity shares
outstanding during the year. Diluted EPS is computed by dividing the Net Profit
or Loss attributable to the Equity Shareholders for the year by the weighted
average number of Equity Shares outstanding during the year as adjusted for the
effects of all potential Equity Shares, except where the results are Anti - Dilutive.
The weighted average number of Equity Shares outstanding during the period is
adjusted for events such a Bonus Issue, Bonus elements in right issue, share splits,
and reverse share split (consolidation of shares) that have changed the number of
Equity Shares outstanding, without a corresponding change in resources.
Ý -ryJr
17) Discontinuing Operations
During the year the company has not discontinued any of its operations.
18) Event after Reporting Date
Materia! events occurring after the balance sheet are considered up to the date of
approval of the accounts by the board of directors.
19) The previous year’s figures have been reworked, regrouped, and reclassified wherever
necessary. Amounts and other disclosures for the preceding year are included as an
integral part of the current annual financial statements and are to be read in relation to the
amounts and other disclosures relating to the current financial year.
20) Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and
Advances are subject to confirmation and therefore the effect of the same on profit could
not be ascertained.
21) Balances of Trade Payables. Trade Receivable and Loans and Advances are subject to
confirmations and reconciliation if any, by the respective parties.
22) The account balances existing at the beginning of the period have been relied upon the
audited financial statements.
23) Amounts are in lakhs except units are in actual numbers wherever required considered
accordingly for respective computations.
24) Segment Reporting
The company is engaged in Residential Rooftop & Government EPC as well as C
& 1 and Ground mount Solar Project as primary segment. Company doesn't have
separate parts of the business that focus on specific products or services, each with
its own risks and rewards.
25) Statement of Management
i. The current assets, loans and advances are good and recoverable and are
approximately of the values, if realized in the ordinary courses of business
unless and to the extent stated otherwise in the Accounts. Provision for all
known liabilities is adequate and not in excess of amount reasonably
necessary.
ii. Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read
together with Notes to the accounts thereon, are drawn up so as to disclose
the information required under the Companies Act, 2013 as well as give a
true and fair view of the statement of affairs of the Company as at the end
of the year and results of the Company for the year under review.
A -r .A •
27) Tittle deeds of immovable property: -
According to the information and explanations given to us, the records examined
by us, the title deed l lease deed of immovable properties included in Property
Plant and Equipment are held in the name of company.
28) Revaluation of property, plants and equipment’s: -•
The Company has not revalued its Property, Plant and Equipment for the current
year.
29) Loans or Advances in the nature of loans: -
No Loans or Advances in loans are granted to promoters, directors, KMPs and the
related parties except one of subsidiaries (as defined under Companies Act, 2013,)
either severally or jointly with any other person.
The company has initiated the process of obtaining the confirmation from
suppliers who have registered themselves under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act, 2006) but has not received the
same in totality. The above information is compiled based on the extent of
responses received by the company from its suppliers.
31) Intangible assets under development: -
There are no Intangible assets under development in the current year.
32) Details of Benami property held: -
The company does not hold any benami property under the Benami Transaction
(prohibition) act, 1988 and the rules there made under. Hence any proceeding has
not been initiated or pending against the company for holding any benami
property under the Benami Transaction (prohibition) act, 1988 and rules made
there under.
33) Wilful Defaulter: -
The company has not been declared as wilful defaulter by any bank or financial
institution or government or government authority during the year reporting
period.
34) Relationship with struck off companies: -
The company does not have transaction with the struck off under section 248 of
companies act, 2013 or section 560 of companies act, 1956.
35) Registration of charges or satisfaction with Registrar of companies: -
The company does not have any charges or satisfaction, which is yet to be
registered with ROC beyond the statutory period.
36) Compliance with number of layers of companies: -
The company is in compliance with the number of layers prescribed under clause
(87) of section 2 of company's act read with companies (restriction on number of
layers) Rules, 2017.
37) Compliance with approved scheme of Arrangements: -
Company does not have made any arrangements in terms of section 230 to 237 of
company’s act 2013, and hence there is no deviation to be disclosed.
38) Utilization of borrowed funds and share premium: -
During the year ended on March 31, 2024, the Company has not advanced or loaned or
invested funds (either borrowed funds or share premium or kind of funds) to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall
i) directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or
ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries
During the year ended on March 31, 2024. the Company has not received any fund from
any person(s) or entity(ics), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall: 1
39) Corporate social responsibility (CSR).
As per Section .35 of the
applicability threshold, needs to spen a e corporaK social responsibility
immediately preceding three financ. a Poting education, promoting
A CdUurl destitute care and A
comly as7eM,“ActPrr«s S primariiv utilized through the year on
the J activities which
However, the provisions oi Corpoialc oociai w i
applicable to the company.
40) Details of crypto currency and virtual currency.
The company has no, traded or invested in crypto currency or virtue, currency during the
financial year.
41) Undisclosed income
The company has no such transaction winch is "1 ‘^^arsTn'tiw u* assessments under
has been surrendered or disclosed as income - 8 *e e ,r ,n h provisions of
For. ABUISHEK KOMAR * ASSOCIATES ENERGY I.IMITED
CHARTERED ACCOUNTANTS , _ .»
Firm Registration Number: 130052W
• —-^C ^^NKrr CARC pankaj valuab^m cot...
/v"^^\®4NACING DIRECTOR WHOLE-TIME D1RF.C I OR
CA ABH.SI.Ek A A <Ý /ahmeOABAd) jL .0802776a O.N -.07348565
PROPRIETOR 7|~P
Membership No. 132305 KjWoWttJUA.
UD.N : 24132305BKGZBRV602 ly v --paNKT. KASHYAPBUA. THAKKAR
NITIN JAliN
CHIEF FINANCIAL COMPANY SECRETARY
OFFICER
Date: August 30, 2024
Date : August 30, 2024 , , .
, . , Place: Ahmedabad
Place: Ahmedabad
: <1, c-hlTH 1 m 1?
1
directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Patty (Ultimate Beneficiaries) or
ii) provide any guarantee, security, or the like on behalf of the ultimate beneficiaries
| 