(v) OTHER NOTES

i) Capital Commitment

The estimated amount of contracts remaining to be executed on capital account not provided for as on the Balance Sheet dated in NIL.

ii) Details of Benami Property Held

No proceedings have been initiated or pending against the company for holding any benami property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

iii) Borrowings from Banks for Credit Facility

The Company has not availed off any credit facilities from banks or financial institutions against the security of current assets during the year.

iv) Willful Defaulter

The company has not been declared as willful defaulter by any bank or financial institution or any lender during the year.

v) Relationship With Struck Off Companies

The company has no transactions with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956 during the year.

vi) Registration of Charges or Satisfaction with Registrar of Companies (Roc)

During the year, there are no instances of any registration, modification or satisfaction of charges which are pending for registration with Registrar of Companies (ROC) beyond the statutory period.

vii) Compliance with Number of Layers of Companies

The company is in compliance with the relevant provisions of Companies Act, 2013 with respect to the number of layers under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restriction on number of layers) Rules, 2017.

viii) Utilisation of Borrowed Funds and Share Premium under Rule 11(E)

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign entities (“intermediaries”) with the understanding, whether recorded in writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company(“Ultimate Beneficiaries”)

The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Due to the accounting treatment as per this Standard, the current year profit has been decreased by Rs. 25.13 lakhs which consists of Lease interest, amortisation of ‘Right of use’, interest on deposit and prepaid rent and fair value changes on lease.

xi) Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.

xii) All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as per the requirement of Schedule III, unless otherwise stated.

xiii) Balances of loans/advances/ sundry creditors, debtors and fixed assets are subject to reconciliations, confirmation and adjustment, if any.

xiv) In the opinion of Board of Directors the Current Assets, Loans and advances are stated at net realizable value in the ordinary course of business.

xv) Certain legal cases are pending with the court of law, the quantum of the same is not ascertainable. However, the management is of the opinion that, decision of the court will be in favor of the company.

xvi) In the absence of adequate information regarding the MSME Creditors, the Company is unable to give full particulars as required by Notification No. GSR - 376 (E) dated 22nd May 2002 issued by the Department of Company Affairs, Ministry of Law and Justice and Company Affairs.

xvii) As there is no Managing Director in the company, hence terms of Section 197 and 198 of the Companies Act, 2013 are not applicable to the Company.

xviii) Unless otherwise stated, in the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value if realized in the ordinary course of business. The provisions for all known liabilities made are adequate and are neither short nor in excess of the amount reasonably necessary.

xix) Figures in Brackets in the Notes forming part of the accounts relate to the previous year.

i) No amounts pertaining to related parties have been provided for as doubtful debts. Further, no amounts have either been written off or written back during the year.

Note 30 - Contingent Liabilities

The Company’s pending litigations comprise of claims against the Company primarily by the proceedings pending with Tax authorities. The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a material adverse effect on its financial results at March 31, 2024.

Note 31 - Disclosure under MSMED Act, 2006

The disclosure required under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) has not been given since classification with respect to MSME and others is not available and hence not given herein above.