10. Provisions, Contingent Liabilities and Contingent Assets - (AS-29)

Provisions are recognized only when there is a present obligation as a result of past events and when
a reliable estimate of the amount of the obligation can be made. Contingent Liabilities is disclosed in
Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the control
of the company or (ii) Present Obligations arising from past events where it is not probable that an
outflow of resources will be required to settle the obligation or a reliable estimate of the amount of
the obligation cannot be made. Contingent assets are not recognized in the financial statement since
this may income that may result in the recognition of the income that may never be realized.

11. General

Except wherever stated, accounting policies are consistent with the generally accepted accounting
principles and have been consistently applied.

1. The classification of creditors as micro and small enterprise has been given for the parties from whom
the confirmation has been received regarding their classification as per MSMED Act. The interest on
delayed payment to such parties, if any, has neither been determined nor has been paid as per verbal
mutual understanding with the such parties.

2. Salaries include directors’ remuneration on account of salary Rs. 16,20,000/-

3. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been taken at their
book value subject to confirmation and reconciliation.

4. Loans and Advances are considered good in respect of which company does not hold any security
other than the personal guarantee of persons.

5. No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact
of the same on Profit & Loss is not determined.

For: Bansilal Shah & Company For & On behalf of the Board of Directors of

Chartered Accountant Mayur Floorings Limited

(FRN 00384W)

Sd/- Sd/- Sd/-

Dhruv Shah (Partner) Mahavir N Sundrawat Mayur Sundrawat

Membership No.: 223609 Managing Director CFO & Director

UDIN: 25223609BMIBQV3658 DIN: 01928303 DIN: 01837589

Date: 29/05/2025 | Place: Banswara / Udaipur