(K) Provisions and Contingencies

Provisions:

Provisions are recognized when there is 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 there is a reliable estimate of the amount of the obligation. Provisions are
measured at the best estimate of the expenditure required to settle the present obligation at the
Balance sheet date and are discounted to its present value as appropriate.

Contingent Liabilities:

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or nonoccurrence of one or more
uncertain future events not wholly within the control of the company or a present obligation that arises
from past events where it is either not probable that an outflow of resources will be required to settle
or a reliable estimate of the amount cannot be made, is termed as a contingent liability.

(L) Revenue recognition

Revenue is measured at fair value of the consideration received or receivable. Revenue is recognized when
(or as) the Company satisfies a performance obligation by transferring a promised good or service (i.e. an
asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.

When (or as) a performance obligation is satisfied, the Company recognizes as revenue the amount of the
transaction price (excluding estimates of variable consideration) that is allocated to that performance
obligation.

The Company applies the five-step approach for recognition of revenue:

i. Identification of contract(s) with customers;

ii. Identification of the separate performance obligations in the contract;

iii. Determination of transaction price;

iii. Allocation of transaction price to the separate performance obligations; and

iv. Recognition of revenue when (or as) each performance obligation is satisfied.

(M) Other income:

Interest: Interest income is calculated on effective interest rate, but recognized on a time proportion basis
taking into account the amount outstanding and the rate applicable.

Dividend: Dividend income is recognized when the right to receive dividend is established.

(N) Finance Cost

Borrowing costs that are directly attributable to the acquisition or construction of qualifying assets are
capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial
period of time to get ready for its intended use. based on borrowings incurred specifically for financing
the asset or the weighted average rate of all other borrowings, if no specific borrowings have been
incurred for the asset.

Interest income earned on the temporary investment of specific borrowings pending their expenditure
on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they
are regarded as an adjustment to the interest cost.

All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are
incurred.

(O) Earnings per share (EPS):

Basic EPS is calculated by dividing the net profit or loss for the period attributable to equity shareholders
by the weighted average number of equity shares outstanding during the period. For the purpose of
calculating diluted EPS, the net profit or loss for the period attributable to equity shareholders and the
weighted average number of additional equity shares that would have been outstanding are considered
assuming the conversion of all dilutive potential equity shares. Earnings considered in ascertaining the
EPS is the net profit for the period and any attributable tax thereto for the period.

(P) Employee benefits

i. Provident Fund

The company has not exceed minimum criteria for eligibility to contribute into Defined
Contribution Plans & Defined Contribution Plans for post-employment benefit in the form.

ii. Gratuity

The Management has decided to gratuity will be accounted in profit & loss A/c in each
financial year when the claim is recognized by the company which is against the prescribed
treatment of AS -15. The Quantum of provision required to be made for the said
retirements benefits can be decided on actuarial basis and the said information could not
be gathered. To the extent of such amount, the reserve would be lesser..

iii. Leave encashment

The liabilities for earned leave are not expected to be settled wholly within 12 months after
the end of the period in which the employees render the related service. Leave
encashment is recognized (as and when they accrue) as an expense in the statement of
profit and loss in line with the leave policy of the Company.

(Q) Fair Value Measurement:

The Company measures financial instruments such as investments in mutual funds, certain other
investments etc. at fair value at each Balance Sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability at the
measurement date. All assets and liabilities for which fair value is measured or disclosed in the financial
statements are categorized within the fair value hierarchy, described as follows, based on the lowest level
input that is significant to the fair value measurement as a whole.

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

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable.

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is unobservable.

(R) Financial Instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability
or equity instrument of another entity.

Financial assets:

Initial recognition

Financial assets are recognized when the Company becomes a party to the contractual provisions of the
instruments. Financial assets other than trade receivables and other specific assets are initially
recognized at fair value plus transaction costs for all financial assets not carried at fair value through
profit or loss. Financial assets carried at fair value through profit or loss are initially recognized at fair
value, and transaction costs are expensed in the Statement of Profit and Loss.

Subsequent measurement

Financial assets, other than equity instruments, are subsequently measured at amortised cost, fair
value through other comprehensive income or fair value through profit or loss on the basis of both:

i. The entity's business model for managing the financial assets and

ii. The contractual cash flow characteristics of the financial asset.

De-recognition

The Company derecognizes a financial asset when the contractual rights to the cash flows from the

financial asset expire, or it transfers rights to receive cash flows from an asset, it evaluates if and to
what extent it has retained the risks and rewards of ownership. When it has neither transferred nor
retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognise the transferred asset to the extent of the Company's continuing
involvement. In that case, the Company also recognizes an associated liability. The transferred asset
and the associated liability are measured on a basis that reflects the rights and obligations that the
Company has retained.

Financial Liabilities:

Initial Recognition and Subsequent Measurement

All financial liabilities are recognized initially at fair value and in case of borrowings and payables, net of
directly attributable cost. Financial liabilities are subsequently carried at amortized cost using the
effective interest method. For trade and other payables maturing within one year from the Balance
Sheet date, the carrying amounts approximate fair value due to the short maturity of these
instruments. Changes in the amortised value of liability are recorded as finance cost.

De-recognition

A financial liability is de-recognized when the obligation under the liability is discharged or cancelled or
expires. When an existing financial liability is replaced by another from the same lender on substantially
different terms, or the terms of an existing liability are substantially modified, such an exchange or
modification is treated as the derecognition of the original liability and the recognition of a new liability.
The difference in the respective carrying amounts is recognized in the statement of profit or loss.

28. The previous year's figures have been reworked, regrouped, and reclassified wherever necessary. Amounts
and other disclosures for the preceding year are included as an integral part of the current annual financial
statements and are to be read in relation to the amounts and other disclosures relating to the current
financial year.

29. The Company has not revalued its Property, Plant and Equipment for the current year.

30. There is no Intangible & CWIP assets under development in the current year.

31. Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are
subject to confirmation and therefore the effect of the same on profit could not be ascertained.

32. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

33. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

34. No proceeding has been initiated or pending against the Company for holding any Benami property under
the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.

35. The company has not been declared as willful defaulter by any bank or financial institution or government
or government authority.

36. The Company has not advanced or loaned to or invested in funds to any other person(s) or entity (is),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a. directly or indirectly lend to 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.

37. The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

a. directly or indirectly lend to 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.

38. The company does not have transaction with the struck off under section 248 of companies act, 2013 or
section 560 of Companies act 1956.

39. The company is in compliance with the number of layers prescribed under clause (87) of section 2 of
company's act read with companies (restriction on number of layers) Rules, 2017.