XIII. Provisions, Contingent Liabilities and Contingent Assets
Provisions
A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation
that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the
obligation.
Provisions are measured at the present value of management's best estimate of the expenditure required to settle
the present obligation at the end of the reporting period. The discount rate used to determine the present value is
a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.
The increase in the provision due to the passage of time is recognised as interest expense and is recorded over the
estimated time period until settlement of the obligation. Provisions are reviewed and adjusted, when required, to
reflect the current best estimate at the end of each reporting period.
The Company recognizes decommissioning provisions in the period in which a legal or constructive obligation
arises. A corresponding decommissioning cost is added to the carrying amount of the associated property, plant
and equipment, and it is depreciated over the estimated useful life of the asset.
A provision for onerous contracts is recognized when the expected benefits to be derived by the company from a
contract are lower than the unavoidable cost of meeting its obligations under contract. The provision is measured at
the present value of the lower of expected cost of terminating the contract and the expected net cost of continuing
with the contract. Before a provision is established, the company recognizes any impairment loss on the assets
associated with that contract.
Liquidated Damages / Penalty as per the contracts / Additional Contract Claims under the contract entered into with
Vendors and Contractors are recognised at the end of the contract or as agreed upon.
Contingent Liabilities
Contingent liability is disclosed in case of
• A present obligation arising from past events, when it is not probable that an outflow of resources will be
required to settle the obligation;
• A present obligation arising from past events, when no reliable estimate is possible;
• A possible obligation arising from past events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control of the company where the probability
of outflow of resources is not remote.
Contingent Assets
Contingent assets are not recognized but disclosed in the financial statements when as inflow of economic benefits
is probable
XIV. Revenue Recognition
The Company's business is to sell Club ownership, provide Tour & Holiday services, accommodation services,
Training/Coaching in recreational activities relating to art, culture & sports, fitness training and clubbing to its
members for a specified period, for which fee is collected either in full up front, or on deferred payment basis.
Revenue from Membership is fees which is non refundable is recognized as income on admission of a member.
Requests for cancellation of membership are accounted for when it is accepted by the Company. Revenue from
Tour operating services is recognized as and when collected
Annual room charges are recognized as income as and when collected. Income from resorts, Income from room
rental, food and beverages income etc., is recognized as and when services are rendered.
XV. Foreign Currency Transactions
Transactions in foreign currencies are translated to the functional currency of the company, at exchange rates in
effect at the transaction date.
At each reporting date monetary assets and liabilities denominated in foreign currencies are translated at the
exchange rate in effect at the date of the statement of financial position.
The translation for other non-monetary assets is not updated from historical exchange rates unless they are carried
at fair value.
XVI. Minimum Alternative Tax (MAT)
MAT credit is recognised as an asset only when and to the extent there is convincing evidence that the company will
pay normal income tax during the specified period. In the year in which the MAT credit becomes eligible to be
recognized as an asset in accordance with the recommendations contained in Guidance Note issued by the
Institute of Chartered Accountants of India, the said asset is created by way of a credit to the statement of profit and
loss and shown as MAT Credit Entitlement. The company reviews the same at each balance sheet date and writes
down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the
effect that company will pay normal Income Tax during the specified period.
XVII. Earnings per Share
Basic earnings per share are calculated by dividing:
• The profit attributable to owners of the company
• By the weighted average number of equity shares outstanding during the financial year, adjusted for bonus
elements in equity shares issued during the year and excluding treasury shares.
Diluted earnings per share adjust the figures used in the determination of basic earnings per share to take into
account:
• The after income tax effect of interest and other financing costs associated with dilutive potential equity shares
• The weighted average number of additional equity shares that would have been outstanding assuming the
conversion of all dilutive potential equity shares.
35. Secured Loans:
From Banks
a) Overdraft from Yes Bank Limited, Loan of ' 2,020 Lakhs for Company Working Capital is secured against the
Company's Fixed Deposits. The Outstanding Balance for the Current year is ' 113.27 Lakhs (Previous Year
' 1,111.96 Lakhs). Further, The quarterly returns filed by the company with bank are in agreement with books
of accounts.
Other Loans
b) The Lease Finance Loan from NOIDA Authority is secured against Plot No. N-14, Sector-18, Noida, Uttar
Pradesh. The outstanding balance as at 31st March, 2025 stands at ' 271.65 Lakhs (Previous Year ' 271.65
Lakhs). No interest has been accrued or recognized on this loan during the current financial year, as the
Company is in the process of negotiating and finalizing a settlement with the NOIDA Authority.
36. Segment wise profitability and Capital Employed can not be assertained as the infrastructure is common for all the
revenue activities of the Company.
38. The company doesn't have any transactions which are not recorded in books of accounts that has been surrender
or disclosed for tax assessments under Income Tax Act, 1961 during the year.
39. The company has not traded or invested in crypto currency or virtual currency during the financial year.
40. The company has not been declared as willful defaulter by any bank or financial institution.
41. There are no significant events that occurred after the Balance Sheet Date.
42. The Company doesn't have any transactions or relationship with struck off companies.
43. There are no proceedings initiated or pending against the company or the group for holding any benami property
under the benami transaction (prohibition) Act, 1988.
44. There are no charges or satisfaction of charges yet to be registered with ROC beyond the statutory period.
45. The company has not applied for any scheme of arrangements in terms of section 230 to 237 of the companies Act,
2013.
46. The company has complied with number of layers prescribed under clause (87) of section 2 of the act read with
company rules,2017.
47. The Company has not advanced or loaned or invested any funds (either from borrowed funds or share premium or
any other sources or kind of funds) to or in any other persons or entities, including foreign entities (“Intermediaries”),
with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly
lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on
behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
48. The Company has not received any funds from any persons or entities, including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or
indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by
or on behalf of the Funding Parties or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
50. Previous years' figures are restated/regrouped/rearranged wherever necessary in order to conform to the
current years' grouping and classifications.
51. The figures have been rounded off to the nearest Lakh.
52. During the financial year 2024-25, the Company carried out an assessment of the recoverable value of its investment
in its wholly owned subsidiary, JJ Arts & Entertainment Pvt. Ltd.. The assessment was undertaken in accordance with
the principles of Ind-AS 36, Impairment of Assets, considering both internal and external indicators of impairment.
Based on the evaluation of the subsidiary's financial performance, projected cash flows, and prevailing market
conditions, the recoverable value of the investment was determined to be lower than its carrying amount in the
books of the Company. Accordingly, the Company has recognized an impairment loss of ' 5.25 crores, representing
the difference between the carrying value and the recoverable amount of the investment. The impairment loss has
been charged to the Statement of Profit and Loss for the year ended 31st March, 2025.
53. During the financial year 2024-25, the Company successfully concluded a One-Time Settlement (OTS) arrangement
with its bankers for the full and final settlement of its outstanding loan obligations. Under this arrangement, the
Company has fully discharged all its dues towards the banks, thereby achieving a complete exit from its secured
borrowings. As part of the OTS concluded with Saraswat Cooperative Bank, the Bank has extended an interest
waiver. In accordance with Ind-AS requirements, the amount of ' 15.20 crores has been recognized as income and
credited to the Statement of Profit and Loss under “Other Income” for the year ended 31st March, 2025.
As per our report of even date For and on behalf of the Board of Directors
For P Murali & Co, COUNTRY CLUB HOSPITALITY & HOLIDAYS LIMITED
Chartered Accountants
FRN: 007257S
M.V JOSHI
Partner Y RAJEEV REDDY Y SIDDHARTH REDDY
Membership No. 024784 Chairman & Managing Director Vice-Chairman, JMD & CEO
UDIN: 25024784BMIXBD4757 DIN. 00115430 DIN. 00815456
Place: Hyderabad M ANJANEYA PRASAD KHUSHBOO AGARWAL J
Date: 30-05-2025 Chief Financial Officer Company Secretary
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