Provisions and contingent liabilities

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognised in the financial Fair value measurement of financial instruments

Financial asset included within the OCI Category are measured at each reporting date at fair value. Fair Value movements are recognised in OCI. On derecognisation of the asset, cumulative gain or loss previously recognised in OCI is reclassified from OCI to statement of Profit and loss.

2.4 Revenue recognition

Both income and expenditure items are recognized on accrual and prudent basis.

2.5 Income Tax

cu i lent tax is deieimineu as the amount oi tax payable in i espect o i taxable i ncome at applicable late oi tax ioi the yeai . me

Government of India, on 20/09/2019, vide the Taxation Laws (Amendment) Ordinance 2019, inserted a new Section 115BAA in the Income Tax Act, 1961, which provides an option to the Company for paying Income Tax at reduced rates as per the provisions/conditions defined in the said section. The Company is continuing to provide for income tax at old rates, based on the available outstanding MAT credit entitlement and various exemptions and deductions available to the Company under the Income Tax Act, 1961.

2.6 Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.

(i) The Company has not advanced or loaned or invested funds to any other persons or entities, 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 or

(b) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(ii) The Company has not received any fund from any persons or entities, 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.

(iii) The company does not have any immovable property, the title deed of which is not held in the name of the company.

(iv) The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or Section 560 of Companies Act

(v) The Company does not have any 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.

(vi) No proceedings have been initiated or pending against the company under the Benami T ransactions (prohibition) Act 1988.

(vii) The company has not been declared as a wilful defaulter by any bank or financial institution or any other lender.

(viii) The company has neither traded or invested in crypto currency or virtual currency during the year.

Note 20 : The figures have been rounded off to the nearest rupee.

Note 21 : Disclosures of related party transactions (as identified & certified by the management) : As per Accounting Standard-18- ' Related Party Disclosures' issued by the Institute of Chartered Accountants of India - Nil.

Note 22 : Statutory Audit Fees includes payment of Rs. 8,000/- to the auditors.

Note 23 : Previous Year figures have been regropued /re arranged wherever necessary.

For Rajesh U Shah & Associates For and on behalf of the Board

Firm Registration No. 327799E Chartered Accountants

SD/- SD/-

Taniya Kolhatkar Dharmesh Kotak

SD/- Managing Director Director

Rajesh Shah DIN : 09299839 DIN : 06642157

(Proprietor)

MRN: 056550

SD/- SD/-

Place: Kolkata Naveen Sharma Mandeep Kaur

Date : 30th May, 2024 Chief Financial Officer Company Secretary

UDIN :24056550BJZZAZ6977 DIN : 06781833 Membership No. : 27346