j) Provisions and contingent liabilities
A provision is recognized when an enterprise has a present obligation (legal or constructive) as result of past
event and it is probable that an outflow of embodying economic benefits of resources will be required to settle a
reliably assessable obligation. Provisions are determined based on best estimate required to settle each
obligation at each balance sheet date. If the effect of the time value of money is material, provisions are
discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a
present obligation that is not recognized because it is not probable that an outflow of resources will be required
to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that
cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent
liability but discloses its existence in the financial statements.
k) Borrowing Costs
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily
takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of
the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes
exchange differences to the extent regarded as an adjustment to the borrowing costs.
l) Impairment of non financial assets
The Company tests for impairments at the close of the accounting period if and only if there are indications that
suggest a possible reduction in the recoverable value of an asset. If the recoverable value of an asset, i.e. the net
realizable value or the economic value in use of a cash generating unit, is lower than the carrying amount of the
asset the difference is provided for as impairment. However, if subsequently the position reverses and the
recoverable amount becomes higher than the then carrying value, the provision to the extent of the then
difference is reversed, but not higher than the amount provided for.
m) Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and at bank, demand deposits with banks & other short-term
highly liquid investments with original maturities of three months or less which is subject to insignificant risk of
change in value.
n) Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
Financial assets
Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument. On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are
recognised at fair value through profit and loss (FVTPL), its transaction cost are recognised in the statement of
profit and loss. In other cases, the transaction cost are attributed to the acquisition value of the financial asset.
For all subsequent measurements financial assets are classified in following categories:
A) Debt instruments
i. Debt instruments at amortised cost: The debt instrument is at amortised cost if the asset is held within a
business model whose objective is to hold assets for collecting contractual cash flows, and contractual
terms of the asset give rise on specified dates to cash flow that are solely payments of principal and
interest (SPPI) on the principal amount outstanding.
After initial measurement, such assets are subsequently measured at amortised cost using the effective
interest rate method (EIR). Amortised cost is calculated by taking into account any discount or premium
on acquisition and fees for cost that are an integral part of the EIR. This category generally applies to
trade and other receivables.
ii. Debt instruments fair value through OCI (FVOCI): A debt instrument is classified as FVOCI if the financial
asset is held within a business model whose objective is achieved by both collecting contractual cash
flows and selling financial assets and the contractual terms of the financial asset give rise on specified
dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding. The Company has not classified any financial assets under this category.
iii. Debt instruments at fair value through profit and loss (FVTPL): Debt instruments not classified as
amortised cost or FVOCI are classified as FVTPL. The Company has not classified any financial assets
under this category.
B ) Equity instruments
Equity instruments held for trading are classified as FVTPL. For all other equity instruments, the Company may
make an irrevocable election to present in OCI the subsequent changes in fair value. The Company makes such
election on an instrument by instrument basis. If the Company decides to classify an equity instrument as FVOCI,
then all fair value changes on the instrument, excluding dividends are recognized in OCI. There is no recycling of
the amount from OCI to Statement of Profit and Loss. However, the Company may transfer the cumulative gain or
loss within equity.
The Company has not classified any financial assets under this category.
C) De- recognition
A financial asset (or wherever applicable, a part of the financial asset or part of a group of similar financial
assets) is primarily derecognized when the rights to receive cash flow from the assets have expired or the
Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the
received cash flow in full to a third party under a pass through arrangement and either a) the Company has
transferred substantially all risks and rewards of the asset or b) has transferred control of the asset.
D) Impairment of financial assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss and credit risk exposure on the financial assets that are debt instruments measured
at amortized costs eg deposits, trade receivables, and bank balances.
The Company follows simplified approach for recognition of impairment loss allowance on trade receivables. The
application of simplified approach does not require the Company to track changes in credit risk. Rather it
recognizes impairment loss allowance based on lifetime ECL's at each reporting date, right from its initial
recognition.
For recognition of impairment loss on other financial assets and risk exposure, the Company determines
that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not
increased significantly, 12 month ECL is used to provide for impairment loss. However, if credit risk has increased
significantly, lifetime ECL is used. If in subsequent period the credit risk reduces since initial recognition, then the
entity reverts to recognizing impairment loss allowance based on 12 month ECL.
As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance on
portfolio of its trade receivables. The matrix is based on its historically observed default rates over the expected
life of the trade receivables and is adjusted for forward looking estimates. At every reporting date, the historical
observed default rates are updated and changes in the forward looking estimates are analysed.
Impairment loss allowance including ECL or reversal recognized during the period is recognized as
income/expense in the Statement of Profit and Loss (P&L). This amount is reflected under the head 'other
expenses' in the P&L. The impairment loss is presented as an allowance in the Balance Sheet as a reduction from
the net carrying amount of the trade receivable, deposits respectively.
Financial Liability
All financial liabilities are initially recognised at fair value. The Company's financial liabilities include trade and
other payables, loans and borrowings including bank overdraft.
Subsequent measurement of financial liabilities depends on their classification as fair value through Profit and
loss or at amortized cost.
All changes in fair value of financial liabilities classified as FVTPL is recognized in the Statement of Profit and
Loss. Amortised cost category is applicable to loans and borrowings, trade and other payables. After initial
recognition the financial liabilities are measured at amortised cost using the EIR method. Gains and losses are
recognized in profit and loss when the liabilities are derecognized as well as through the EIR amortization
process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or
cost that are integral part of the EIR. The EIR amortization is included as finance cost in the Statement of Profit
and Loss.
Derecognition
A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the
derecognition of the original liability and the recognition of the new liability. The difference in the respective
carrying amounts is recognized in the Statement of Profit and Loss.
Reclassification of financial instruments
After initial recognition, no reclassification is made for financial assets which are equity instruments and
financial liabilities. For financial assets, which are debt instruments, a reclassification is made only if there is a
change in the business model for managing those assets. Changes to the business model are expected to be
infrequent. If the Company reclassifies the financial assets, it applies the reclassification prospectively from the
reclassification date which is the first day of the immediately next reporting period following the change in the
business model.
Offsetting financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet if there is a
currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net
basis, to realise the assets and settle the liabilities simultaneously.
o) Dividend distribution
Dividend distribution to the Company's shareholders is recognised as a liability in the Company's financial
statements in the period in which the dividends are approved by the Company's shareholders.
(aa) Changes in accounting policies and disclosures
New and amended standards
The Ministry of Corporate Affairs (MCA) in consultation with National Financial Reporting Authority (NFRA)
vide its notification dated 23rd March 2022, has made certain amendments in Companies (Indian Accounting
Standard Rules), 2015. The Company has not early adopted any standards or amendments that have been
issued but are not yet effective. These amendments apply for the first time from the year ending 31st March
2023, but do not have a material impact on the financial statements of the company.
Ind AS 37: Provisions, Contingent Liabilities and Contingent Assets:- The amendments to Ind AS 37
specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making.
The amendments apply a "directly related cost approach". The costs that relate directly to a contract to
provide goods or services include both incremental costs for example direct labour and materials and an
allocation of other costs directly related to contract activities for example an allocation of the depreciation
charge for an item of property, plant and equipment used in fulfilling that contract. General and
administrative costs do not relate directly to a contract and are excluded unless they are explicitly
chargeable to the counterparty under the contract.
These amendments had no impact on the financial statements of the Company during the year.
Ind AS 103: Bus iness combination: - The amendments replaced the reference to the ICAI's "Framework for
the Preparation and Presentation of Financial Statements under Indian Accounting Standards" with the
reference to the "Conceptual Framework for Financial Reporting under Indian Accounting Standard" without
significantly changing its requirements.
The amendments also added an exception to the recognition principle of Ind AS 103 Business Combinations
to avoid the issue of potential 'day 2' gains or losses arising for liabilities and contingent liabilities that
would be within the scope of Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets or Appendix
C, Levies, of Ind AS 37, if incurred separately.
It has also been clarified that the existing guidance in Ind AS 103 for contingent assets would not be
affected by replacing the reference to the Framework for the Preparation and Presentation of Financial
Statements under Indian Accounting Standards.
These amendments had no impact on the financial statements of the Company during the year.
Ind AS 109: Financial Instruments: - The amendment clarifies the fees in the '10 per cent' test for
derecognition of financial liabilities, that an entity includes when assessing whether the terms of a new or
modified financial liability are substantially different from the terms of the original financial liability. These
fees include only those paid or received between the borrower and the lender, including fees paid or
received by either the borrower or lender on the other's behalf.
These amendments had no impact on the financial statements of the Company during the year.
New and amended standards, not yet effective
The Ministry of Corporate Affairs (MCA) in consultation with National Financial Reporting Authority (NFRA)
vide its notification dated 31 March 2023, had made certain amendments in Companies (Indian Accounting
Standard Rules), 2015. Such amendments shall come into force with effect from 1 April 2023, but do not
have a material impact on the standalone financial statements of the Company:
Ind AS 1: Presentation of Financial Statements: - The amendments aim to help entities provide accounting
policy disclosures that are more useful by replacing the requirement for entities to disclose their 'significant'
accounting policies with a requirement to disclose their 'material' accounting policies and adding guidance on
how entities apply the concept of materiality in making decisions about accounting policy disclosures.
Consequential amendments have been made in Ind AS 107 also.
The Company is currently revisiting their accounting policy information disclosures to ensure consistency with
the amended requirements.
These amendments had no material impact on the standalone financial statements of the Company during the
year.
Ind AS 8: Accounting Policies, Changes in Accounting Estimates and Errors: - The amendments clarify the
distinction between changes in accounting estimates and changes in accounting policies and the correction of
errors. It has also been clarified how entities use measurement techniques and inputs to develop accounting
estimates.
These amendments had no material impact on the standalone financial statements of the Company during the
year.
Ind AS 12: Income Taxes: - The amendments narrow the scope of the initial recognition exception under Ind
AS 12, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary
differences.
The amendments should be applied to transactions that occur on or after the beginning of the earliest
comparative period presented. In addition, at the beginning of the earliest comparative period presented, a
deferred tax asset (provided that sufficient taxable profit is available) and a deferred tax liability should
also be recognised for all deductible and taxable temporary differences associated with leases and
decommissioning obligations. Consequential amendments have been made in Ind AS 101.
These amendments had no material impact on the standalone financial statements of the Company during the
year.
New and amended standards, not yet effective
There are no standards that are notified and not yet effective as on the date.
Significant management judgement in applying accounting policies and estimation uncertainty
The preparation of the Company's standalone financial statements requires management to make
judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and
liabilities, and the related disclosures and the disclosure of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount
of assets or liabilities affected in future periods.
Significant management judgements
The following are significant management judgements in applying the accounting policies of the Company
that have the most significant effect on the standalone financial statements.
Evaluation of indicators for impairment of assets — The evaluation of applicability of indicators of impairment
of assets requires assessment of several external and internal factors which could result in deterioration of
recoverable amount of the assets.
Classification of leases — The Company enters into leasing arrangements for various assets. The classification
of the leasing arrangement as a finance lease or operating lease is based on an assessment of several
factors, including, but not limited to, transfer of ownership of leased asset at end of lease term, lessee's
option to purchase and estimated certainty of exercise of such option, proportion of lease term to the asset's
economic life, proportion of present value of minimum lease payments to fair value of leased asset and
extent of specialized nature of the leased asset.
Determining the lease term of contracts with renewal and termination options (Company as lessee)- The
Company determines the lease term as the non-cancellable term of the lease, together with any periods
covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered
by an option to terminate the lease, if it is reasonably certain not to be exercised. The Company has several
lease contracts that include extension and termination options. The Company applies judgement in evaluating
whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is,
it considers all relevant factors that create an economic incentive for it to exercise either the renewal or
termination. After the commencement date, the Company reassesses the lease term if there is a significant
event or change in circumstances that is within its control and affects its ability to exercise or not to exercise
the option to renew or to terminate (e.g., construction of significant leasehold improvements or significant
customisation to the leased asset).
Impairment of financial assets - At each balance sheet date, based on historical default rates observed over
expected life, the management assesses the expected credit loss on outstanding financial assets.
Provisions - At each balance sheet date basis the management judgment, changes in facts and legal aspects,
the Company assesses the requirement of provisions against the outstanding contingent liabilities. However,
the actual future outcome may be different from this judgement.
Revenue from contracts with customers- The Company has applied judgements that significantly affect the
determination of the amount and timing of revenue from contracts with customers.
Significant estimates
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting
date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and
liabilities, are described below. The Company based its assumptions and estimates on parameters available
when the standalone financial statements were prepared. Existing circumstances and assumptions about
future developments, however, may change due to market changes or circumstances arising that are beyond
the control of the Company. Such changes are reflected in the assumptions when they occur.
Net realizable value of inventory -The determination of net realisable value of inventory involves estimates
based on prevailing market conditions, current prices and expected date of commencement and completion
of the project, the estimated future selling price, cost to complete projects and selling cost. The Company also
involves specialist to perform valuations of inventories, wherever required.
Fair value measurement disclosures — Management applies valuation techniques (including but not limited to
the use of illiquidity discount on investments) to determine the fair value of financial instruments (where active
market quotes are not available). This involves developing estimates and assumptions consistent with how
market participants would price the instrument.
40 Financial risk management
Company’s business activities are exposed to a variety of financial risks, namely credit risk, interest risk, liquidity risk, market
risk.
a) Credit risk
Credit risk is the risk that counterparty will not meet its obligation under financial instrument or customer contract,leading to a
financial loss. The Company is exposed to credit risk primarily from trade receivables, other receivables,deposits with banks.
Credit risk management for trade receivables
The customer credit risk is managed subject to the company’s established policy, procedure and controls relating to customer
credit risk management. In order to contain the business risk, prior to acceptance of an order from a customer, the
creditworthiness of the customer is ensured through scrutiny of its financials, if required, market reports, past experience and
other factors. The Company remains vigilant and regularly assesses the financial position of customers during execution of
contracts with a view to limit risks of delays and default. In view of the industry practice, credit risks from receivables are well
contained on an overall basis.
The impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large
number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively. The maximum
exposure to credit risk at the reporting date is the carrying value of each class of financial assets as disclosed in note 7
Provision for expected credit losses
Basis as explained above, apart from specific provisioning against impairment on an individual basis for major customers, the
Company provides for expected credit losses (ECL) for other receivables based on historical data of losses, current conditions
and forecasts and future economic conditions, including loss of time value of money due to delays. In view of the business
model of the Company and the prescribed commercial terms, the determination of provision for expected credit loss is
determined for the total trade receivables outstanding as on the reporting date. Considering all such factors, ECL for trade
receivables as at year end worked out as follows:
b) Liquidity risk
Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The Company’s
approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring
unacceptable losses. In doing this, management considers both normal and stressed conditions.
The Company’s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations The
break-up of cash and cash equivalents, deposits and investments is as below.
c) Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market prices comprise three types of risk: Foreign currency rate risk, Interest rate risk, and other price risk.
Foreign currency risk:
The Company is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future
commercial transactions, recognized assets and liabilities denominated in a currency that is not the entity’s functional currency.
The Company is not exposed to significant foreign currency risk as at the respective reporting dates.
Interest rate risk:
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market
interest rates. The Company’s exposure to the risk of changes in interest rates relates primarily to the Company’s debt obligations
with floating interest rates.
The company’s interest rate risk arises due to debt obligation and restricted deposit with bank. The exposure to interest risk is
between 11% to 15% p.a. and in relation to restricted deposits is between 6% to 7%. These deposits are earnest money deposit
issued by bank on behalf of the company. Restriction on such deposits is realized on the expiry of terms of respective arrangements.
The Company is not exposed to significant interest rate risk as at the respective reporting dates.
Price risk
The Company is mainly exposed to the price risk due to its investment in mutual funds. The price risk arises due to uncertainties about
the future market values of these investments.
The Company is not exposed to significant price risk as at the respective reporting dates.
d) Capital management
The Company’s objectives when managing capital is to provide maximum returns to shareholders, benefits to other stakeholders and
to maintain an optimal capital structure to reduce the cost of capital. The Company manages its capital structure and makes
adjustments in light of changes in economic conditions.
The gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings less cash and cash
equivalents.Total capital is calculated as equity as shown in the balance sheet plus all other equity reserves attributable to equity
holders of the Company.
The management assessed that cash and cash equivalents, trade receivables, trade payables and other financial instruments approximate their carrying
amounts largely due to the short term maturities of these instruments.
(ii) Fair value hierarchy
This section explains the judgements and estimates made in determining the fair values of the financial instruments that are recognised and measured at fair
value. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the
three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of
observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable,
the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
(iii) Valuation technique used to determine fair value
Specific valuation techniques used to value financial instruments include:
- the fair value of the mutual funds is determined using daily NAV as declared for the particular scheme by the Asset Management Company. The fair
value estimates are included in Level 2.
42 Other statutory information for the year ended March 31,2024 and March 31,2023
(a) The Company does not have any benami property, where any proceeding has been initiated or pending against the
Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
rules made thereunder.
(b) The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies
beyond the statutory period.
(c) The Company have not traded or invested in Crypto Currency or Virtual Currency during the financial year.
(d) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:
(e) (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Company (Ultimate Beneficiaries); or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the Company shall:
(f) (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries); or
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
The Company does not have any such transaction which is not recorded in the books of account that has been
surrendered or disclosed as income in the tax assessments under the Income-tax Act, 1961 (such as, search or survey
or any other) relevant provisions of the Income-tax Act, 1961.
(g) The Company has not been declared wilful defaulter by any bank or financial institution or Government or any
Government authority or other lender, in accordance with the guidelines on wilful defaulters issued by the Reserve
Bank of India.
(h) The Company has complied with the number of layers prescribed under Clause (87) of Section 2 of the Companies
Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017 from the date of their
implementation.
43 The restructuring of the company's business is under consideration by the lenders. In view of the management's
expectation of successful outcome of above proposals and revival of its business based on its discussion with the
lenders and feasible TEV(techno economic viability) reports, the financial statement has been prepared on a going
concern basis. However, certain lenders of the company have filed applications/issued notices including in NCLT, DRT
and SARFAESI. The management expects these to be resolved on the implementation of the restructuring. The TEV
report conducted by the outside agency, which was appointed by the lenders, has envisaged certain
reliefs/concessions primarily in the interest rates and payment tenures. The relief is envisaged from 01.11.2018 and
accordingly the company is providing interest as per the envisaged restructuring plan. Therefore unprovided interest
during the current financial year amounts to Rs. 3948.82 lakhs (Net of tax of Rs.2569.10 lakhs).
The company is in the process of settling the dues with the lenders towards which an amount of Rs. 705.00 lacs has
been deposited with the bankers and financial institutions, for which final approval from some of the lenders is still
awaited.
45 Employee Benefit Plans
1 Defined benefits plans
The Company has a defined benefit gratuity plan . The Company’s defined benefit gratuity plan is a final salary plan for employees,
which requires contributions to be made to a separately administered fund.
The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of
service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at
retirement age.
Risk exposure:
Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is exposed to various
risks as follow -
Salary Increases: Actual salary increases will increase the Plan’s liability. Increase in salary increase rate assumption in future
valuations will also increase the liability.
Investment Risk: If Plan is funded then assets liabilities mismatch & actual investment return on assets lower than the discount rate
assumed at the last valuation date can impact the liability.
Discount Rate: Reduction in discount rate in subsequent valuations can increase the plan’s liability.
Mortality & disability: Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the
liabilities.
Withdrawals: Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent
valuations can impact Plan’s liability.
2 Defined contribution plans
The Company makes contribution towards provident fund and employees’ state insurance plan scheme for qualifying employees.
Under the schemes, the Company is required to contribute a specified percentage of payroll cost, as specified in the rules of the
schemes, to these defined contribution schemes.
The Company has recognised for contributions to these plans in the statement of profit and loss as under :
Sd/- Sd/- Sd/-
For Amit Joshi & Associates A.K.Saraf R.N.Pattanayak S.L.Mohan
Chartered Accountants Director Whole Time Director Director
FRN: 004898N DIN :00057323 DIN:01189370 DIN:00028126
Sd/- Sd/- Sd/- Sd/-
Amit Joshi R.D.Tayal Arvind Dadheech Nidhi Jain
Partner Director Chief Financial Officer Company Secretary
Membership No.083617 DIN :00021 148 M.No.: FCS 11814
Place:New Delhi
Date: 30/05/2024
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