PROVISIONS

Provision is recognised when an enterprise has a present obligation as a result of past event, it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

CONTINGENT LIABILITY

No provision is made of liabilities, which are contingent in nature, but if material, the same has been disclosed by way of notes to accounts.

NOTE NO. 25

Balances of Sundry Debtors, Sundry Creditors, Loans and Advances, Receivables and Payable are subject to confirmation/reconciliation, if any. NOTE NO. 26

In the opinion of the Board of Directors adequate provision has been made in the accounts for all known liabilities and the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the value stated in the Balance Sheet.

NOTE NO. 27

As per the provision of “The Micro, Small and Medium Enterprise Development Act, 2006” there were no amounts payable including interest to micro, small and medium enterprise as on 31st March 2024

NOTE NO. 28 DEFERRED TAX

In compliance with the Indian Accounting Standard - Ind AS 12 relating to "Income Taxes" issued by the Institute of Chartered Accountants of India, the Company has adjusted the Deferred Tax Liabilities / (Assets) (net) arising out of timing difference accruing during the year aggregating Rs.239083/-(Previous Year Rs.505532/-) in the Profit & Loss Account.

NOTE NO. 29 ADVANCES

During the year under consideration, the company had given total loans and advances of Rs. 323.91 Crores, out of the said advances an amount of Rs. 318.05 Crores is interest bearing advance.

NOTE NO. 30 EARNINGS PER SHARE

The Basic / Dilluted earnings per share is computed by dividing net profit attributable to equity shareholders for the financial year by weighted average number of equity shares outstanding during the financial year.

NOTE NO. 31

RELATED PARTY DISCLOSURES

As required by Indian Accounting Standard - Ind AS 24 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India following are the details of transactions during the year with related parties as defined in Ind AS 24.

List of related parties

Companies Under Same Management

Tera Natural Resources and Pellets Private Limited

Triyamb Securities Private Limited

Asian Fintrade Services Private Limited

Ambe Securities Private Limited

Profin Commodities Private Limited

Koshika Bioscience Private Limited

Milgrey Finance and Investments Limited

Key Manegerial Persons

Mr. Anupam Narain Gupta Mr. Abhay Narain Gupta Mr. Atul Kumar Mr. Manav Kumar Mrs. Neelam Ahire

Relative of Key Managerial Persons

Mrs. Rashi Gupta Mrs. Neha Anupam Gupta Mr. Narain Kumar Gupta

The company had availed secured loan from Aditya Birla Housing Finance Limited against the hypothecation of property owned by Key Managerial Person situated at 26th Floor, Pent House No. Ph01, Wing A, Building Number 1, Oberoi Gardens Chsl, Victoria Gardens, Thakur Village, Kandivali East, Mumbai - 400101.

The company had availed secured loan from Indiabulls Commercial Credit Limited against the hypothecation of property owned by Associate Company situated at Unit No 007-010, Madhava, C-4, Block - E, Bandra Kurla Complex, Bandra East, Mumbai - 400051, property owned by relative of Key Managerial Person situated at 503, Westren Edge II, Western Express Highway, Borivali East, Mumbai - 400066 and property owned by Key Managerial Person situated at B/2601, Oberoi Gardens, Thakur Village, Kandivali East, Mumbai - 4000101.

NOTE NO. 32

Previous Year's figures have been regrouped / rearranged wherever necessary so as to conform with current year's figures and rounded off to the nearest rupee.

NOTE No. 33

The company during the year had not invested or traded in Crypto currency or Virtual Currency.

NOTE No. 34

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

NOTE No. 35

The company had not been declared as wilful defaulter by any bank or financial institution or other lenders.

NOTE NO. 36

Loans and Advances granted to Promoters, Directors, KMPs and the Related Parties

As Per our audit report of even Date

For Mohandas & Co. For and on behalf of the Board of Directors

Chartered Accountants Reg No : 106529W

B.M. Shetty Anupam Gupta Abhay Gupta

Proprietor (Managing Director) (Jt Managing Director)

Mem No. - 031256 (DIN-02294687) (DIN-02294699)

Place : Mumbai Manav Kumar Aakansha Khandelwal

Date : 29/05/2024 (Independent Director) (Company Secretary)

UDIN : 24031256BKADPV4593 (DIN-08309105)