2.10 Provisions, contingent liabilities and contingent assets
i) Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an
outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future
operating losses. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present
obligation at the end of the reporting period.
ii) A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control of the Company. The Company does not recognize a contingent liability
but discloses its existence in the Financial Statements.
iii) Contingent assets are not recognized, but disclosed in the Financial Statements where an inflow of economic benefit is probable.
2.11 Borrowing Costs
Borrowing costs consist of interest, ancillary and other costs that the Company incurs in connection with the borrowing of funds and interest relating
to other financial liabilities.
2.12 Equity
Share capital is determined using the nominal value of shares that are issued. Incremental costs directly attributable to the issue of ordinary shares are
recognised as a deduction from equity, net of any tax effects. Retained earnings include all current and prior period results, as disclosed in the
statement of profit and loss. Securities premium includes any premium received on the issue of share capital. Any transaction costs associated with
the issue of shares is deducted from Securities premium, net of any related income tax benefits.
2.13 Previous Year Comparatives
The figures for the previous year have been regrouped, reworked, rearranged and reclassified wherever necessary to make them comparable to those
for the current year.
2.14 Balance shown under the heading sundry creditor for goods, expenses & others, Sundry debtor, other current assets and advances to suppliers are
subject to confirmations. Necessary adjustments, if any will be made when the accounts are reconciled and settled.
2.15 In the opinion of the management there is no such events occurred after the date of balance sheet, which needs disclosures in these accounts.
2.16 Cash balances has been taken as valued and certified by the management.
2.17 Segment Reporting
The company’s business segment is ‘Training, Learning and principal geographical segment is ‘India’. Accordingly, no separate disclosure is required
to be made under Accounting Standard 17, Segment Reporting.
(i) The Company issued 9,70,000 equity shares via fresh issue and 5,60,000 shares through offer for sale for its listing on 23 September 2024. Post
listing, the paid-up share capital stood at ^ 5,69,50,000/- comprising 56,95,000 equity shares of ^ 10 each.
(ii) Bonus shares was issued in the ratio of 4 shares for every 1 shares held. Total 10,80,000 bonus shares were issued during financial year 2022-23.
No shares were bought back during the reporting period. Further, during the year 2023-24, 5 bonus shares were issued for every 2 share held.
Total 33,75,000 bonus shares were issued.
4.2 Rights, Preferences and restrictions attached to Equity shares:
The Company has a single class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders. In the event of liquidation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
26 In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated as realizable in the ordinary course
of business and the provision for all known liabilities are adequate.
27 Debit and Credit balances are subject to confirmation and reconciliation if any.
28 The Company has not granted loans or advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties (as
defined under Companies Act, 2013,) either severally or jointly with any other person, that are:(a) repayable on demand or (b) without
specifying any terms or period of repayment.
29 Previous year figures have been regrouped / reclassified, wherever necessary, to correspond with current year classification.
30 The Company does not have any capital work-in-progress
31 The Company does not have any subsidiary or holding company as on the reporting date.
32 The Company does not have any intangible asset under development.
No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions
33 (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
34 The Company has no borrowings from banks or financial institutions.
35 The company is not declared as wilful defaulter by any bank or financial institution or other lender.
The company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of
36 Companies Act, 2013
37 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year
38 The Company does not have any modification or satisfaction of charge which is required to be registered with the RoC beyond statutory
period.
39 The company's investments are in compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of Layers) Rules, 2017.
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