q. Provisions, Contingent Liabilities and Contingent Assets:
Provisions involving a substantial degree Of estimation in measurement are recognized when there is
a present obligation as a result Of past events, and it is probable that there will be an outflow of
resources. Where no reliable estimate can be made, a disclosure is made as contingent liability.
Contingent liabilities are not recognized but are disclosed by way of Notes to the Accounts.
Contingent assets are neither recognized nor disclosed in the financial Statements. Penalties have
been levied for various contracts, generally termed as liquidated damage. The amount of which
cannot be readily measurable. The liability against the same is accounted for when it arises.
r. Investments
Investments that are intended to be held for more than a year, from the date of acquisition, are
classified as long-term investments and are carried at cost. However, provisions for diminution in
value of investments are made to recognize a decline, other than temporary. Investments other than
long term investments are valued at lower of cost and fair value of shares.
Secured Loan from Financial Institution
Term loan from Financial Institution are secured against Bank Guarantee.Maximum Repayment Period is 180 days.The interest rates are 10.5% p.a.
Details of Security Given for Cash Credit Facility :
Cash Credit in Rupee are from Bank of India
These are secured against hypothecation of Stock,Book Debts, Pledge of TDR @ 25%
Refer Note 33 for information on Borrowings in relation to half yearly returns of current assets filed by the company with Bank that are in agreement with the Books of Accounts.
Details of Demand Loan from Bank:
Prime Security: Demand Loan are secured against equitable mortgage of all that piece & parcel of shop being number 1 on ground floor of building 'Krishna Height Phase-I at Krishapur & against
equitable mortgage of each single unit of shop number 9 & 10 on ground floor of Building 'Krishna Residency Phase 1' at Krishnapur.
Collateral Security: Hypothecation of Entire Current Assets on Pari Passu Basis
Personal Guarantee by director Mr. Jugal Kishore Bhagat.
Rate of Interest is @9.40% p.a.
Unsecured Loan From Financial Institution
Loans are repayable on monthly installments as per the terms of loan which are ranging upto 18 months.Effective Rate of Interest is 17.25 %
34 Segment Reporting
Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker,
in deciding how to allocate resources and assessing performance. Operating segments are reported in a manner consistent with the internal financial reporting provided to the chief
operating decision maker. Based on the management approach as defined in AS 17, the Chief Operating Decision Maker evaluates the Company's performance based on two
segments i.e. Construction Business & Transportation Business.
35.2 The Company is a Small and Medium Sized Company(SMC) as defined in the general instruction in respect of Accounting Standard notified under the Companies Act, accourdingly,
the Company has complied with the Accounting Standards as applicable to a Small And Medium Sized Company.
35.3 The Company does not have any benami property, where any proceedings have been initiated or pending against the company for holding any benami property under
Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made there under.
35.4 The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.
35.5 There has no any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
35.6 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
35.7 The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the previous 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)
35.8 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.
35.9 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 Beneficiary.
35.10 The Company has not traded or invested in crypto currency or virtual currency during the financial year.
35.11 The Board of Directors have not recommended any dividend for the Financial Year ended 31st March, 2025.
36 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
As per ou r report of even date attached
For Destiny Logistics & Infra Limited
For M/s. Bijan Ghosh & Associates
Chartered Accountants
Firm Registration No. : 323214E SD/- SD/-
Jugal Kishore Bhagat Rekha Bhagat
Director Managing Director
DIN: 02218545 DIN: 03564763
Bijan Ghosh
Proprietor
Membership No. 009491
Place: Kolkata SD/- SD/-
Date: 29th May, 2025 Prasenjit Biswas Rinky Shaw
Chief Financial Officer Company Secretary
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