3.10 Provisions and contingent Liabilities /Assets

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event,
it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the
statement of profit and loss net of any reimbursement. If the effect of the time value of money is material, provisions
are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent Liability is disclosed after careful evaluation of facts, uncertainties and possibility of reimbursement.
Contingent liabilities are not recognized but are disclosed in notes.

Contingent Assets are not recognized in financial statements but are disclosed, since the former treatment may result in
the recognition of income that may or may not be realized. However, when the realization of income is virtually
certain, then the related asset is not a contingent asset and its recognition is appropriate.

3.11 Leases

Ind AS 116, Leases (new standard on lease) is effective for the financial year beginning from 1st April, 2019. The new
standard has a significant impact on the Lessee accounting and it prescribes a single lease model which requires
capitalization of Right of Use (ROU) assets on the basis of future lease rentals and creations of leasehold obligation in
the books of the lessee. The standard provides short term exemption and low value exemption wherein the assets and
liability accounting may not be required and the lessee can record rental expenses in profit and loss. Other than these
two exemptions there will not be any rent in the profit and loss and instead of rent there will be depreciation and
interest cost will arise. There is no impact due to notification of this standard as the company has availed short term
exemption and rent expense is reflecting in the statement of profit and loss.

3.12 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and
item of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.

3.13 Classification of Assets and Liabilities as Current and Non-Current

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset
is treated as current when it is:

Ý Expected to be realized or intended to be sold or consumed in normal operating cycle

Ý Held primarily for the purpose of trading

Ý Expected to be realized within twelve months after the reporting period, or

Ý Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period

All other assets are classified as non-current.

A liability is current when:

Ý It is expected to be settled in normal operating cycle

Ý It is held primarily for the purpose of trading

Ý It is due to be settled within twelve months after the reporting period, or

Ý There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period

The Company classifies all other liabilities as noncurrent.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents. The Company has identified twelve months as its operating cycle.

3.14 Fair value Measurement

The Company measures financial instruments at fair value at each reporting date. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or
transfer the liability takes place either:

Ý In the principal market for the asset or liability.

Ý In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measure using the assumptions that market participants would used when
pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non financial asset takes into account a market participant’s ability to generate
economic benefits by using the assets in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are
available to measure the fair value, maximizing the use of relevant observable inputs and maximizing the use of
unobservable inputs.

All assets and liabilities for which fair value is measured and disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level inputs that is significant to the fair
value measurement as a whole:

1. Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

2. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e., as prices) or indirectly (i.e., derived from prices)

3. Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of each
reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of
the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

3.15 Foreign Currency Transactions & Translations

Financial statements are presented in Indian Rupee, which is Company’s functional currency. Monetary assets and
liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the
reporting date. Exchange differences arising on settlement of monetary items on actual payments / realisations and year
end translations are dealt with in Profit and Loss Statement. Non-Monetary Foreign Currency items are stated at cost.

3.16 Significant Accounting Judgments, Estimates and Assumptions

In the process of applying the Company’s accounting policies, management has made the following estimates,
assumptions and judgements which have significant effect on the amounts recognized in the financial statement:

Ý Income Taxes

Judgment of the Management is required for the calculation of provision for income taxes and deferred tax assets and
liabilities. The company reviews at each balance sheet date the carrying amount of deferred tax assets. The factors used
in estimates may differ from actual outcome which could lead to significant adjustment to the amounts reported in the
standalone financial statements.

Ý Contingencies

Judgment of the Management is required for estimating the possible outflow of resources, if any, in respect of
contingencies/claim/litigations against the company as it is not possible to predict the outcome of pending matters
with accuracy.

Ý Allowance for uncollected accounts receivable and advances

Trade receivables do not carry any interest and are stated at their normal value as reduced by appropriate allowances
for estimated irrecoverable amounts. Individual trade receivables are written off when management deems them not
collectible. Impairment is made on ECL, which are the present value of the cash shortfall over the expected life of the
financial assets.

Ý Defined Benefit Plans

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligation are
determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ
from actual developments in future. These Includes the determination of the discount rate, future salary increases,
mortality rates and attrition rate. Due to the complexities involved in the valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting
date.

Ý Fair Value Measurement of Financial Instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using valuation techniques including the
Discounted Cash Flow (DCF) model. The inputs to these models are taken from observable markets where possible,
but where this is not feasible, a degree of judgment is required in establishing fair values. Judgments include
considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors
could affect the reported fair value of financial instruments.

13.1 NATURE OF SECURITY FOR TERM LOANS FROM FINANCIAL INSTITUTIONS

Term Loan of Rs.328 Lacs was taken from PNB Bank during FY 2022-23 and carries Floating Interest Rate @9.85%
p.a.The loan is repayable in 180 monthly installment of Rs.3,13,260.00.Term Loan of Rs.50.28Lacs was taken from PNB
Bank during FY 2022-23 and carries Floating Interest Rate @10.24% p.a.The loan is repayable in 180 monthly installment
of Rs.48,022.00.The loan has been secured by Office building located at 218-222,Aggarwal Prestige Mall, Plot No. 2, Road
No. 44, Unit No. 218-222,Third Floor, M2K Pitampura, North West Delhi, Delhi,110034 . Term Loan of Rs.101 Lacs was
taken from ICICI Bank during FY 2011-12 and carries Floating Interest Rate p.a.The loan is repayable in 163 monthly
installment.

13.2 NATURE OF SECURITY OF VEHICLE TERM LOANS

Vehicle Loan for Car was taken from Bank Of Baroda during the Financial Year 2024-25. The loan is repayable in 84
monthly installment of Rs.41,832.00 The loan is secured by hypothecation of respective Vehicle and personal guranteed of
the directors of the company.

17.1 NATURE OF SECURITY FOR CASH CREDITS

Working Capital Limit from Punjab National Bank (Pre merger Oriental Bank of Commerce) is secured by First charge on
the floating assets of the company (Present & future) and personal guarantee of the directors of the company along with
personal guarantee of Sh. Rakesh Kumar, Sh. Neeraj Goel, Smt. Madhulika Goel, Sh. Deepak Kumar Goel, Sh. Parveen
Kumar Goel and Sh. Amit Kumar & corporate guarantee of Bindal Pulp & Papers Private Limited and Bindal Rolling Mills
Limited. The working capital limit is further collaterally secured by Equitable Mortgage of followings properties:

a. Industrial land at Village Bhandura, Pargana Muzaffarnagar, in the name of M/s Bindal Rolling Mills Limited.

b. Industrial land at Village Kukada, Pargana Muzaffarnagar, in the name of M/s Bindal Pulp & Paper (P) Limited.

c. Residential flat bearing No. W-111, Greater Kailash Part-1 New Delhi in the name of Smt. Madhulika Goel W/o Sh.
Neeraj Goel.

The following methods / assumptions were used to estimate the fair values:

(i) The carrying value of cash and cash equivalent, other bank balances, trade receivables, short term borrowings, other financial
liabilities and trade payables approximate their fair value mainly due to the short-term maturities of these instruments.

(ii) The fair value of non current borrowings is estimated by discounting future cash flows using rates applicable to instruments with
similar terms, currency, credit risk and remaining maturities. The fair values of non current borrowings is assessed by the
management to be same as their carrying value and is not expected to be significantly different if estimated by discounting future
cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities.

There are no significant unobservable inputs used in the fair value measurement.

In the opinion of the Board of Directors, Current Assets, Loans and Advances have value on realisation in the ordinary course of the
business at least equal to the amount at which they have been stated in the Balance Sheet as at 31st March, 2025.

NOTE '42'

All amounts stated in the financial statement are in Lakhs except otherwise stated. Further all the actual figures has been divided by
Rs.1,00,000/- to arrive at figures in Lacs, hence rounding off effects my be in the figures of the financial statements.

NOTE '43'

The provisions of Section 135 of the Companies Act, 2013, relating to Corporate Social Responsibility are not applicable to the
Company for the year under review. Accordingly, the related disclosures are not required.

NOTE '44'

The software used by the company includes an audit trail feature, which is enabled from 1st April 2024 to 31st March 2025. The
audit trail has feature of recording each and every transactional changes made in the books of account along with the date when such
changes were made.

Additional Information in terms of the amendment in Schedule lll of the Companies Act vide notification G.S.R.207(E) dated
24 th March 2021.

The Company does not have any benami property, and no proceeding has been initiated or pending against the Company for holding

(a)

any benami property.

(b) The Company have not traded or invested in crypto currency or virtual currency during the financial year.

The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding 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 ofthe
company (ultimate beneficiaries) or

(ii) Provide any Guarantee, Security, or the like to or on behalf of the Ultimate Beneficiaries.

The Company have not received any fund from any Person(s) or Entity(ies), including Foreign Entities (Funding Party) with the

^(d) understanding (whether recorded in writing or otherwise) that the Company shall:

(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf ofthe funding
party (ultimate beneficiaries) or

(ii) Provide any Guarantee, Security, or the like on behalf of the ultimate beneficiaries.

The Company has not filed quarterly returns or statements with the banks in lieu of the sanctioned working capital facilities as the

(e)

total exposure is below Rs.25.00 Crores and bank required such informations only if total ctedit facilities are above Rs.25.00 Crores.

The Company has no such transaction which is not recorded in the Books of Accounts that has been surrendered or disclosed as

(f) income during the year in the tax assessments under the Income Tax Act, 1961 such as, search or survey or any other relevant
provisions of the Income Tax Act, 1961.

The Company have not been declared willful defaulter by any Banks or any other Financial Institution at any time during the

^(g) financial year.

NOTE '46'

Segment Information

The Company is engaged in a single business activity and operates in a single geographical area. Therefore, no separate segment
information is required to be disclosed in accordance with Ind AS 108 - Operating Segments.

NOTE '47'

Amount of previous year have been regrouped or rearranged wherever required to confirm to the current year presentation.

See accompanying notes 1 - 47 forming an integral part of the financial statements
For and on behalf of the Board of Directors

For GOEL SINGHAL & ASSOCIATES

Chartered Accountants
Firm Regd No. 006496C

Sd/- Sd/-

(Parveen Kumar Goel) (Deepak Goel)

Wholetime Director Wholetime Director

DIN - 00014638 DIN - 00200527

Sd/-

^{Sd/- Sd/-} (CA Sanjay Bansal)

(Vipin Kumar Goel) (Deepa Kumari) Partner

Chief Financial Officer Company Secretary M.No. 078430

PAN - ACSPG3315N PAN - JKWPK6213C

Date: 30-05-2025

_Place: Delhi