i. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of pastevents and it is probable that there will be an outflow of resources. Contingent Liabilities are disclosed when the company has possibleobligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets areneither recognized nor disclosed in the financial statements.
j. INVESTMENTS
The Company has elected to recognize changes in Investments at Fair Value through Other Comprehensive Income (FVTOCI) asper IND AS 113 read with IND AS 109 and IND AS 32.
The profit and loss arrived at on fair valuation has been accounted for Other Comprehensive Income.
For the purpose of Fair Value, the Quoted Equity Shares have been taken at the prevailing Market Price of the Stock Exchange at theclosing hours as on 31 st March 2020.
For the purposes of Fair Value of Unquoted Equity Shares, the fair value has been computed as per the Audited Financials of 31st March2020 as the financials for the year ended 31st March 2021 were not available.
k. EMPLOYEE BENEFITS
i. Gratuity:
The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the companyis eligible for such benefits during the year.
ii. Provident Fund:
The provisions of the Employees Provident Fund are not applicable to the company since the number of employeesemployed during the year were less than the minimum prescribed for the benefits.
iii. Leave Salary:
In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of lawgoverning the establishment.
l. IMPAIRMENT OF ASSETS
The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If anyindication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverableamount. An asset’s recoverable amount is the higher of an assets or cash-generating unit’s (CGU) fair value less costs ofdisposal or its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generatecash inflows that are largely independent of those from other assets or group of assets. When the carrying amount of anasset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverableamount. Impairment losses, are recognized in the statement of profit and loss. Intangible assets with indefinite useful livesare tested for impairment annually, as appropriate and when circumstances indicate that the carrying value may beimpaired.
m. BORROWING COST
Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. Allother borrowing costs are charged off to revenue.
A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.
n. DEFERRED REVENUE EXPENDITURE
Miscellaneous Expenditure are written off uniformly over a period of 5 years.
o. INCOME TAX
Current income tax
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxationauthorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at thereporting date. Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss(either in other comprehensive income or in equity). Management periodically evaluates positions taken in the tax returnswith respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions whereappropriate. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognizedamounts, and it is intended to realize the asset and settle the liability on a net basis or simultaneously.
Deferred tax
Deferred tax is provided on temporary differences between the tax bases of assets and liabilities and their carrying amountsfor financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporarydifferences. Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused taxcredits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit willbe available against which the deductible temporary differences, and the carry forward of unused tax credits and unused taxlosses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to theextent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax assetto be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that ithas become probable that
future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at thetax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (andtax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognizedoutside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity).
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets againstcurrent tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
Retained earnings represents cumulative profits of the company and effects of remeasurement of defined benefit obligations.This reserve can be utilized in accordance with the provisions of Companies Act, 2013.
General reserve is reserve created out of profits of the company for the purpose.
The Company has elected to recognize changes in the fair value of certain investments in equity securities in othercomprehensive income. This is accumulated balance on account of fair value of investments. The company transfers amountfrom this reserve to retained earnings when the relevant equity securities are derecognized.
Note ’31’ :
The previous year's figures have been regrouped, rearranged and reclassified wherever required to conform tocurrent year's classification.
In terms of our report of even date attached
For R P Khandelwal & Associates For and on behalf of the Board of Directors
Chartered Accountants
FRN : 001795C Sd/- Sd/-
Ratan Singh Ashutosh Bajoria
Managing Director Director
Sd/- DIN : 06818520 DIN:01399944
Chhavi BenganiPartner
Membership No : 414142
UDIN: 25414142BMIUSJ8042 Sd/- Sd/-
Place : JAIPUR Gaurav Somani Madhuri Dhanopia
Date : 30TH MAY 2025 CFO Company Secaratry