11. Provisions, Contingent Liabilities and Contingent Assets:
(i) Provisions are recognized only when there is a present obligation as a result of past events and when a
reliable estimate of the amount of obligation can be made.
(ii) Contingent liability is disclosed for
(a) Possible obligations which will be confirmed only by future events not wholly within the control of the
Company or
(b) Present obligations arising from past events where it is not probable that an outflow of resources will
be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be
made.
(iii) Contingent Assets are not recognized in the financial statements since this may result in the recognition of
income that may never be realised.
12. Segment Reporting:
(i) Business Segments have been identified on the basis of nature of products/services. The Company's
operations relate to trading of shares, Investment Activities, and construction business.
(ii) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities
of the segment. Revenue and expenses which relates to enterprise as a whole and are not allocable to a
segment on reasonable basis have been disclosed as "unallowable".
(iii) Segment Assets and Segment Liabilities represent assets and liabilities in respective segments. Investments,
tax related assets and other assets and liabilities that cannot be allotted to a segment on reasonable basis,
have been disclosed as “unallowable”.
13. Impairment of Assets:
The Company assesses at each Balance Sheet date whether there is any indication that an asset may be impaired.
If any such indication exists, the Company estimates the recoverable amount of the assets. If such recoverable
amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than
its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an
impairment loss and is recognized in the Profit and Loss Account. If at the Balance Sheet date there is an
indication that if a previously assessed impairment loss no longer exists, the recoverable amount is reassessed
and the asset is reflected at the recoverable amount.
2) Notes to Accounts:-
i) The company has entered as a partner into partnership for development of land in and around Surat district of
Gujarat in the name of M/s Mark Developers. The amount paid to this partnership, is classified as investment.
ii) Related Party Disclosure as per Accounting Standard 18 on “Related Party Disclosures”:
(A) Names of the related parties and description of relationship:
Enterprises where control exist :
(i) Directors
(a) Mr. Prasanna Shirke - Wholetime Director & CFO
(b) Ms. Nikita Poddar - Company Secretary
(c) Mr. Hemant Gokhale - Independent Director
(d) Mrs. Sonal Atal - Independent Director
(ii) Associates Concern
(a) Mark Developers - Partnership Firm
(b) Innocent Infrastructure Private Limited - Promoter
(B) The following transaction was carried out with related parties in the ordinary course of business :-
(iii) In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value
stated if realized in the ordinary course of business. In the opinion of the Board of directors, the provisions for
all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are
no contingent liabilities outstanding on the balance sheet date.
(v) There are no amounts due and outstanding to be credited to investor education & protection fund as at 31st
March, 2025.
(vi) The company has identified two reportable segments viz. Realty & Investment. Segments have been identified
and reported taking into account nature of products & services, the differing risk and returns and the
internal business reporting systems. The accounting policies adopted for segment reporting are in line with
the accounting policy of the Company with following additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis of relationship to operating
activities of the segment. Revenue and expenses which are relate to enterprises as a whole and are not
allocable to a segment on reasonable basis have been disclosed as “Unallocable”.
b) Segment assets and segment liabilities represent assets and liabilities in respective segment. Other
assets & liabilities that cannot be allocated to segment on reasonable basis have been disclosed as
“Unallocable”.
ix) Other statutory information:
1. The Company does not have any benami property, where any proceeding has been initiated or pending
against the Company for holding any benami property.
2. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial
year.
3. The Company has 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:
a. 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
b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
4. The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(funding party) with the understanding (whether recorded in writing or otherwise) that the Company
shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the funding party (ultimate beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
5. The Company does not have any such transaction which is not recorded in the books of accounts that
has been surrendered or disclosed as 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.
6. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the
Act read with the Companies (Restriction on number of Layers) Rules, 2017.
7. The Company is not declared wilful defaulter by any bank or financials institution or lender during the
year.
8. The Company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.
9. The Company does not have any transactions with companies which are struck off.
x) The previous year’s figures have been regrouped, rearranged and reclassified wherever necessary.
For G P Sharma & Co LLP
Chartered Accountants
Firm number: 109957W / W100247
sd/- sd/- sd/-
CA. Utkarsh Sharma Prasana Shirke Shubhada Shirke
Partner Whole Time Director & CFO Director
M.No. 147906 DIN: 07654053 DIN: 07654051
UDIN: 25147906BMIQHH3547
sd/-
Place : Mumbai Nikita Poddar
Date: 30-05-2025 Company Secretary
ACS 59406
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