13. Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligationas a result of past events and it is probable that there will be an outflow of resources.
1. The financial statements including financial information have been prepared after making such regroupings andadjustments, considered appropriate to comply with the same. As result of these regroupings and adjustments, theamount reported in the financial statements/information may not necessarily be same as those appearing in therespective audited financial statements for the relevant years.
2. Segment Reporting
The Company at present is engaged in the Business of providing Freight forwarding & Warehousing services,which constitutes a single business segment. In view of above, primary and secondary reporting disclosures forbusiness/ geographical segment as envisaged in AS -17 are not applicable to the Company.
3. Provisions, Contingent Liabilities and Contingent Assets (AS 29)
Contingent liabilities and commitments (to the extent not provided for). There are no contingent liabilities as onMarch 31, 2023.