h. Provisions, Contingent Liabilities and Contingent Assets
The Company recognizes provisions when there is present obligation as a result of past event and it is probable that there will be an outflow of resources and reliable estimate
can be made of the amount of the obligation. A disclosure for Contingent liabilities is made when there is a possible obligation or present obligations that may, but probably
will not, require an outflow of resources. Contingent assets are neither recognised and nor disclosed in the financial statements.
i. Impairment of Assets
The carrying amount of assets, other than inventories is reviewed at each balance sheet date to determine whether there is any indication of impairment, if any such indication
exists, the recoverable amount of the assets is estimated. The recoverable amount is the greater of the asset’s net selling price and value in use which is determined based on
the estimated future cash flow discounted to their present values. An impairment loss is recognized whenever the carrying amount of an assets or its cash generating unit
exceeds its recoverable amount. Impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount.
2.2 Share issued on preferential basis
During the year ended on 31st March 2024, the company has issued 13,83,000 equity shares of Rs.10 each at an issue price of Rs. 34 (inclusive of premium of Rs. 24)
on preferential basis to specific shareholders on 16th March 2024.
During the year ended on 31st March 2023, the company has issued 10,26,000 equity shares of Rs.10 each at an issue price of Rs. 25 (inclusive of premium of Rs. 15)
on preferential basis to specific shareholders on 22nd October 2022.
2.3 Terms and rights attached to equity shares
The company has issued only one class of equity share having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The
company declares and pays dividend if any, in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the
ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all the
preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholder.
22 In the opinion of the management, the current/non-current assets, loans and advances are expected to realize at least at the amount at
which they are stated, if realised in the ordinary course of business and provision for all known liabilities have been adequately made in
23 The Trade Receivables, Advance from Customers & Trade Payables are subject to confirmation
24 The Company has complied with number of layers of subsidiaries as prescribed under Section 186(1) of the Companies Act read with
Companies (Restriction on number of layers) Rules, 2017.
25 The Company did not have any long- term contracts including derivative contracts for which there were any material foreseeable losses.
26 The Company does not have transactions with the companies struck off under section 248 of Companies Act ,2013.
27 The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding
any Benami property.
28 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
29 The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
30 The Company has not 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).
31 There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the
Company.
32 The financial statements were approved for issue by the Board of Directors on 22nd May 2024.
33 Previous year figures are regrouped / reclassified wherever necessary to make them comparable with those of current period.
34 Figures have been rounded off to the nearest lakhs of rupees.
35 Figures in brackets indicate negative (-) figures.
Significant accounting policies 1C
The accompanying notes form an integral part of the financial statements.
As per our report of even date attached
For V.N.PUROHIT & CO. For and on behalf of the Board of Directors
Chartered Accountants Roopshri Resorts Limited
Firm Regn. No. 304040E
Sd/- Sd/- Sd/-
O. P. Pareek Shreyas Shrenik Shah Sonakshi Shreyas Shah
Partner Director Non Executive Director
Membership N°. 014238 DIN: 01835575 DIN: 09160599
UDIN: - 24014238BKAUBQ4637 Place : Mumbai Place : Mumbai
Sd/- Sd/-
Abhijeet Bablu Das Unnati Bhavesh Bhanushali
CFO Company Secretary
Place :New Delhi PAN: CTNPD0007J PAN: DKFBP9731K
Date :22nd May 2024 Place : Mumbai Place : Mumbai
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