xi) Provisions and Contingencies

A provision is recognised when the company has present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligations and a reliable estimate can be made of the amount of obligation.

Contingent liability is disclosed in case of

-a present obligation arising from past events, when it is not possible that an outflow of resources will be required to settle the obligation.

- Present obligation arising from past events, when no reliable estimate is possible.

- a possible obligation arising from past events where the probability of outflow of resources is not remote.

Contingent assets is not recognised in the financial statements. A contingent asset is disclosed, where an inflow of economic benefits is probable.

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

xii) Non-current assets held for sale

Assets held for sale are measured at the lower of carrying amount or fair value less cost to sell. The determination of fair value less cost to sell includes use of the Management's estimates and assumptions. The fair value of assets held for sale has been estimated using valuation techniques (including income-and-market approach) which include unobservable inputs. Non-current assets and disposal group that ceases to be classified under 'Held for Sale' shall be measured at the lower of carrying amount before the non-current asset and disposal group were classified under 'Held for Sale' and its recoverable amount at the date of subsequent decision not to sell. Recoverable amount of assets reclassified from 'Held for Sale' have been estimated using the Management's assumptions which consist of significant unobservable inputs.

xiii) Revenue recognition

(i) Revenue from operations

(a) Revenue from sale of products-

Revenue from sale of goods is recognised when the significant risk and reward of ownership have been transferred to the buyer and recovery of consideration is probable.

(b) Revenue from services-

Revenue from rendering of service is recognised in the accounting period in which service is rendered and recovery of consideration is probable.

(c) Revenue from contracts: -

Revenue from Contracts, where the performance obligations are satisfied over time and where there is no uncertainty about measurement or collectability of consideration, is recognised as per percentage-of-completion method. The Company determines the percentage-of-completion on the basis of direct measurement of the value of goods and services transferred to the customer to-date relative to the remaining goods and services promised under the contract.

Revenue in excess of invoicing is classified as 'Contract assets' while invoicing in excess of revenue is classified as 'Contract Liabilities'. Advance payments received from customers for which no services are rendered are shown as 'Advance from customers'.

(d) Other operational revenue represents income earned from the activities incidental to the business and is recognised when the performance obligation is satisfied and right to receive the income is established as per the terms of the contract.

Company presents revenues net of indirect taxes in its statement of profit & loss.

(ii) Other Income: -

(a) Interest income: - Interest income from financial assets is recognised using effective interest rate method.

(b) Dividend income: -Dividend income is recognised when the Company's right to receive the amount has been established.

(c ) Other items of income are accounted as and when the right to receive such income arises and it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably.

xiv) Exceptional items: -

An item of income or expense which by its size, type or incidence requires disclosure in order to improve an understanding of the performance of the Company is treated as an exceptional item and disclosed as such in the financial statements.

xv) De-recognition of financial liabilities: - The company derecognises financial liabilities when, and only when, the Company's obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in the statement of profit and loss.

xvi) Earnings per share

Basic earnings per share is computed by dividing profit or loss attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the year. The Company did not have any potentially dilutive securities in any of the years presented.

xvii) Statement of Cash flows

Cash flow is reported using the indirect method whereby net profit before tax is adjusted for effects of transaction of a non-cash nature. The cash flow from operating, investing and financing activities of the Company are segregated.

43. Other Notes

(i) Details of Benami Properties

The Company does not own any benami property neither any proceedings are initiated or pending against the Company under the Prohibition of Benami Property Transactions Act, 1988

(ii) Borrowings secured against current assets

The Company has fund based borrowings from banks or financial institutions on the basis of security of current assets. It has filed quarterly returns or statements of current assets with banks or financial institutions. The Returns for first three quarters are tallied with respect to value of inventory, Receivables, Bank borrowing for Working capital and Sundry creditors. However, returns are not matching with respect to other current assets and other current liabilities. Company is yet to file the return for the fourth quarter.

(iii) Wilful defaulter

The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

(iv) Relationship with Struck off Companies

As per the information available with the Company, the Company has not entered into any transactions with companies stuck-off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956

(v) Registration of charges with ROC

There are two charges totalling to INR 356.81 lakh created in favour of banks which are pending for satisfaction. There are no outstanding dues to these banks and satisfaction of these charges is pending due to technical issues which are being sorted out by the Company.

(vi) Utilisation of Borrowed funds and share premium

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) nor has it received any fund from any person(s) or entity(ies), including foreign entities (Funding Party).

(vii) Details of Crypto-Currency or Virtual Currency

The Company has not traded or invested in Crypto-Currency or Virtual Currency during the financial year.

(viii) Audit trail (edit log)

The Company has not used an accounting software which has a feature of recording audit trail (edit log) facility up to 27/02/2024.

The company has used an accounting software for maintaining its books of accounts which has a feature of recording audit trail (edit log) facility w.e.f. 28/02/2024. The same has operated thereafter for all relevant transactions recorded in the software.

Further, the Company take care of the audit trail (edit log) feature is not tempered with and preserving of audit trail by the Company as per statutory requirement for record retention.

44. Balances of debtors, advances and creditors are subject to confirmation.

45. Previous year figures are reclassified/ regrouped, where required, to conform with current year presentation.

As per our report of even date For CHATURVEDI SK & FELLOWS LLP

Chartered Accountants

Sd/- Sd/-

Sd/- G.R.K. Raju G.P.K. Raju

Subhash Salvi Chairman & Executive Director &

Partner Chief Executive Officer Chief Financial Officer

(Firm Regn. No. 112627W/W100843; Partner's

Membership No. 127661) DIN: 01516984 DIN:5180152

Place: Pune

Date: 25/05/2024 Sd/- Sd/-

Siddheshwar Kadane Siva Sankar Kalive

Company Secretary Director

M. No. A72775 DIN:07354617