28 COMMITMENTS AND CONTINGENCIES
A provision is recognized when the Company has present obligation as a result of past events and it is probable that an outflow of
resources will be required to settle such obligation, in respect of which a reliable estimate can be made. Contingent liabilities not
provided for in the accounts are disclosed in the account by way of notes specifying the nature and quantum of such liabilities.
Under the Income Tax Act, 1961, assessment of income for the various assessment years have taken place under the Income Tax
Act, 1961. As a result a total demand of ' 55.49 Lacs has arisen. Considering the nature of additions made and recent judicial
pronouncements, there are good chances that the additions shall be deleted in the appropriate proceedings and therefore no
provision in this respect has been made in respect of outstanding demand.
29 DISCLOSURE PURSUANT TO EMPLOYMENT BENEFITS
The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised as an expense during the period when the employees render the services. The Company pays gratuity
to the employees who have completed five years of service with the Company at the time of resignation/ superannuation. The
gratuity is paid @15 days basic salary for every completed year of service as per the Payment of Gratuity Act, 1972, Hawever None
of employee complete the minimum 5 year of service, hence no provision has been made for gratuity payment.
The Management assessed that the fair value of financial liabilities approximate their carrying amounts largely due to the short
term maturities of these instruments
32 FINANCIAL RISK MANAGEMENT:
The Company's business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit
risk. The Company's senior management has the overall responsibility for establishing and governing the Company 's risk
management framework
The Company's activities expose it to credit risk, liquidity risk and market risk. This note explains the sources of risks which the entity
is exposed to and how it mitigates that risk.
Liquidity risk:
Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities.The Company's
approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due
Market risk:
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market prices comprise three types of risk: currency rate risk, interest rate risk and other price risks, such as equity price risk
and commodity risk. Financial instruments affected by market risk include loans and borrowings and investments in securities.
Foreign currency risk
The Company is exposed to insignificant foreign exchange risk as at the respective reporting dates.
Credit Risk
Credit risk is the risk of financial loss to the Company that a customer or counter party to a financial instrument fails to meet its
obligations. The Company is exposed to credit risk from its investing activities, including deposits with banks.
Trade and other receivables:
The Company extends credit to customers in normal course of business. The Company considers factors such as credit track record
in the market and past dealings for extension of credit to customers. To manage credit risk, the Company periodically assesses the
financial reliability of the customer, taking into account the financial condition, current economic trends, and analysis of historical
bad debts and aging of accounts receivables. Outstanding customer receivables are regularly monitored to make an assessment
of recoverability. Receivables are provided as doubtful / written off, when there is no reasonable expectation of recovery. Where
receivables have been provided / written off, the Company continues regular follow-up, engage with the customers, legal options
/ any other remedies available with the objective of recovering these outstandings.
Cash and cash equivalents and other investments
The Company is exposed to counter party risk relating to medium term deposits with banks. The Company considers factors such as
track record, size of the institution, market reputation and service standards to select the banks with which balances and deposits
are maintained. Generally, the balances are maintained with the institutions with which the Company has also availed borrowings.
The Company does not maintain significant cash and deposit balances other than those required for its day to day operations.
33 SEGMENT REPORTING
As per Ind AS 108- "Operating Segment" segment information has been provided under Notes to Consolidated Financial Statements.
34 RELATED PARTY TRANSACTION
In accordance with the requirements of IND AS 24, on related party disclosures, name of the related party, related party relationship,
transactions and outstanding balances including commitments where control exits and with whom transactions have taken place
during reported periods, are below
35 CSR ACTIVITY
As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its
average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. Therefore
We made provision in books for CSR Deposite Scheme of '11.36 Lakhs (Average of last 3 years Profit) for F.Y. 2024-25.
36 OTHER INFORMATION
i) Balances in the accounts of debtors, creditors and contracts and contractors, certain Bank Accounts are taken subject to confirmation
and reconciliation and only upon such confirmation and reconciliation, the entries for discounts, claims and writing off sundry
balances etc. will be recorded in the books.
ii) In the opinion of the management, the current assets and loans & advances are approximately of the value stated, if realised / paid
in the ordinary course of business. The provisions for all known liabilities is adequte and is not in excess of amounts considered
reasonably necessary.
iii) Balances grouped under non current Liabilities, Current Assets, and Non current assets in certain cases are subject to confirmation
and reconcillation from respective parties, impect of the same, if any, shall be accounted as when determined.
37 EXCEPTION ITEMS
During the year the relisation of '14.40 lakhs ('132.50 lakhs in previous year) from old receiables, hence provision for bad debts
has been write back.
38 ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III
i) Details of benami property held -
No proceedings have been initiated on or are pending against the company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.
ii) Borrowing secured against current assets
No loan facilities availed by the Company against the current assets as primary security, hence, reporting Quarterly return/
statements reconciliation with books of accounts is not applicable.
iii) Wilful defaulter
Company have not been declared wilful defaulter by any bank or financial institution or government or any government authority.
iv) Relationship with struck off companies
The company has no transactions with companies struck off under Companies Act, 2013 or Companies Act, 1956.
v) Registration of charges or satisfaction with Registrar of Companies
No charges was created or satisfied during the year, hence the Registration of chrages or satisfication of charges with Resistrar of
Companies was not applicable
vi) Compliance with number of layers of companies
The company has complied with the number of layers prescribed under the Companies Act, 2013.
vii) Compliance with approved scheme(s) of arrangements
The company has not entered into any scheme of arrangement which has an accounting impact on current financial year.
viii) Undisclosed Income
The company has not surrendered or disclosed as income during the current or previous year in the tax assessments under the
Income Tax Act, 1961, that has not been recorded in the books of account.
ix) Details of crypto currency or virtual currency
The company has not traded or invested in crypto currency or virtual currency during the current or previous year.
x) Valuation of PP&E, intangible asset and investment property
The company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the
current or previous year.
xi) Utilisation of equity and Share premium
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
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 on behalf of the ultimate beneficiaries"
xii) Other information required under part I and Part II of schedule III of Companies Act 2013, are either NIL or NOT
Applicable
39 The previous year figures have been regrouped, reworked, rearranged and reclassified, wherever necessary and are to be read in
relation to the amounts and other disclosures relating to the current year.
As per our report of even date attached
For H.RAJEN & CO For and on Behalf of the Board of Directors of
Chartered Accountants Cressanda Railway Solutions Limited
Firm Registration Number: 108351W (Formerly known as Cressanda Solutions Limited)
CA Rajendra Desai Chandra Prakash Sharma Arunkumar Tyagi
Partner Director Managing Director
M No: 011307 DIN: 02143588 DIN: 05195956
Place: Mumbai Sunil Kumar Trivedi Hemant Singh
Date: 31/07/2025 Company Secretary and Compliance Officer Chief Financial Officer
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