2.13Provisions and contingencies:
A provision is recognized when the Company has a present obligation as a result of past event,
it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are not discounted to their present vaiue and are determined based on the best
estimate required to settle the obligation at the reporting date. These estimates are reviewed
at each reporting date and adjusted to reflect the current best estimates.
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 or a present obligation that is not recognized because it is
not probable that an outflow of resources will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there is a liability that cannot be recognized
because it cannot be measured reliably. The Company does not recognize a contingent liability
but discloses its existence in the financial statements.
2.14Earnings per Share:
Basic earnings per share are 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 earnings per share, the net profit or loss for the period
attributable to equity shareholders and the weighted average number of shares outstanding
during the period are adjusted for the effects of all dilutive potential equity shares.
2.15Cash and Cash Equivalents:
Cash and cash equivalents for the purposes of cash flow statement comprise cash in hand, at
bank (excluding margin deposits with banks).
2.16Bad-Debts:
Bad-Debts are written off to Statement of profit and loss as and when the debt is determined
as un-reaiizable as perthe opinion of the Management.
2.17Cash flow statement:
Cash flow statement has been prepared in accordance with the indirect method prescribed in
Accounting Standard 3 -Cash flow Statement. Cash and Cash equivalents for cash flow
statement comprises cash at bank and in hand and bank deposits.
2.18Foreign currency translation
(i) Initial recognition
Foreign currency transactions are recorded in the reporting currency, by applying to the foreign
currency amount the exchange rate between the reporting currency and the foreign currency
at the date of the transaction
(ii) Conversion
At the year-end, monetary assets in foreign currency are translated at the rates of exchange at
the balance sheet date and resultant gain or loss is recognized in the Profit and Loss Account.
(iii) Exchange differences
All exchange differences arising on settlement/ conversion on foreign currency transactions are
included in the Profit and Loss Account, except in cases where they relate to the acquisition of
fixed assets, in which case they are adjusted in the cost of the corresponding asset.
2.19Share Premium Account
Share premium account includes difference between consideration received in respect of
shares and face value of shares
34 Previous year Figures
a. Previous year figures have been regrouped/reclassified. where necessary7, to confirm to this year's classification.
36 Additional Regulatory Information
a. Borrowings from banks and financial institutions
The Company has Borrowings from banks on the basis of Security of Current Assets.The quartelv Returns or Statements of Current Assets filed by the
Company with Banks are in agreement with the books of accounts and there were no Material Discrepancies noted.
b. Details of Benami Property held
The company does not hold any Benami Property and no proceedings have been initiated on or are pending against the Company for holding benami
property7 under the Benami Transactions (Prohibition) Act. 1988 (45 of 1988) and Rules made thereunder.
c. Title deeds of Immovable Property
Title deeds of Immovable Property held in the name of Company.
g Details of Revalued Property
The Company has not Revalued its Property, Plant and Equipment during the year.
li Wilful Defaulter by any Bank/ Financial Institution/ Other Lender
The company is not declared as wilful defaulter by any bank / Financial institution other lender.
i Relationship with struck off companies
The company has no such transaction with any Struck off Company .
j Registration of Charges or satisfaction with Registrar of Companies(ROC)
There are no Charges pending for Registeration with Registrar of Companies (ROC).
k Compliance with number of layers of companies
The company has complied with clause (87) of section 2 of the Act read with the Companies (Restriction on number of layers) Rules. 2017.
l. Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any Scheme of arrangement approved by Competent Authority.
m. Utilization of Borrowed Fund and Share Premium
i. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other
person(s) or entitv(ies).
ii. The company has not received any funds from any other person(s) or entitv(ies).
n. Undisclosed Income
There are no transactions which are not recorded in books of accounts i.e. there is no undisclosed income.
o. Crypto Currency or Virtual Currency
The company has not traded or invested in Crypto Currency or Virtual Currency.
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