p) Provisions, contingent liabilities and contingent assets
Contingent Liabilities are disclosed in respect of possible obligations that arise from past events,
but their existence will be confirmed by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company or where any present
obligation cannot be measured in terms of future outflow of resources or where a reliable
estimate of the obligation cannot be made.
Provisions are recognized when the Company has a present legal or constructive obligation as
a result of past events, it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. Provisions are not recognized for future
operating losses.
Provisions are measured at the present value of the management's best estimate of the
expenditure required to settle the present obligation at the end of the reporting period. The
discount rate used to determine the present value is a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The increase in
the provision due to the passage of time is recognized as an interest expense. Where there are
a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognized even if
the likelihood of an outflow with respect to any one item included in the same class of obligations
may be small.
A contingent asset is disclosed, where an inflow of economic benefits is probable. An entity shall
not recognise a contingent asset unless the recovery is virtually certain.
q) Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss (after tax) for the year
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the year. The weighted average numbers of shares also includes fixed
number of equity shares that are issuable on conversion of compulsorily convertible instruments
and it is included from the date consideration is receivable (generally the date of their issue) of
such instruments.
Diluted earnings per share is calculated by dividing the net profit or loss (after tax) for the year
attributable to equity shareholders and the weighted average number of equity shares
outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
r) Dividend distribution
Final equity dividends on shares are recorded as a liability on the date of approval by the
shareholders and interim equity dividends are recorded as a liability on the date of declaration
by the Company's Board of Directors.
s) Use of significant accounting estimates, judgments and assumptions
The preparation of the financial statements requires management to make estimates, judgments
and assumptions that affect the reported balances of revenues, expenses, assets and liabilities,
disclosure of contingent liabilities as on the date of financial statements. 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.
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 within the next financial year, are described below. The
Company based its assumptions and estimates on parameters available when the 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.
t) Recent Accounting pronouncements
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to
time. For the year ended March 31,2025, MCA has notified Ind AS -117 Insurance Contracts
and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions,
applicable to the Company w.e.f. April 1, 2024. The Company has reviewed the new
pronouncements and based on its evaluation has determined that it does not have any
significant impact in its financial statements.
40 Capital Management
For the purpose of the Company’s capital management, capital includes issued equity capital, securities premium and all
other equity reserves attributable to the equity holders of the company. The Company maintains its financial framework to
support the pursuit of value growth for shareholders, while ensuring a secure financial base.
The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend
payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing
ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest free loans and
borrowings, less cash and cash equivalents, excluding discontinued operations. Also refer note 54.
The financial instruments are categorized into three levels based on the inputs used to arrive at fair value measurements as
described below:
Level 1 : Quoted prices (unadjusted) in the active markets for identical assets and liabilities.
Level 2 : Valuation techniques for which lowest level input that is significant to the fair value measurement is directly or
indirectly observable.
Level 3 Valuation techniques for which lowest level input that is significant to the fair value measurement is directly or
indirectly unobservable.
43 Wilful defaulter
As on 31st March. 2025 the Company has not been declared wilful defaulter by any bank/financial Institution or other lender.
44 Details of Crypto currency or Virtual currency
The Company is not engaged in the business of trading or investing in crypto currency or virtual currency and hence no disclosure is required.
45 Registration of charges or satisfaction with Registrar of Companies (ROC)
The company does not have any charges or satisfaction yet to be registered with the registrar of companies (ROC) beyond the statutory
period as at 31st March. 2025
46 The Company has not advanced any funds or loaned or invested by the Company to or in any other person(s) or entities, including foreign
entities ("Intermediaries"), with the understanding that the intermediary shall whether directly or indirectly lend or invest in other persons or
entities identified in any manner by or on behalf of the Company (Ultimate Beneficiaries) or provide any guarantee, security or the like on
behalf of ultimate beneficiaries.
The Company has not received any funds from any person(s) or entities including foreign entities ("Funding Parties") with the understanding
that such Company shall whether, 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 provide guarantee, security or the like on behalf of the Ultimate beneficiaries.
47 The Company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying any terms or
period for the repayment.
48 No proceedings have been initiated or are pending against the Company as on 31st March, 2025 for holding any benami property under the
Benami Transactions (Prohibition) Act. 1988 and rules made thereunder.
49 The Company does not have any transaction with companies struck off under section 248 of Companies Act, 2013 or section 560 of
Companies Act. 1956 and hence no disclosure is required.
50
The Company has not entered into any transaction which is unrecorded and there is no transactions relating to previously unrecorded income
that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act. 1961 (43 of 1961)
51 The Company has not entered into any scheme arrangement in terms of section 230 to 237 of the Companies Act, 2013.
52 Corporate Social Responsibility (CSR)
The company is not required to spend on CSR as per section 135 of the Companies Act. 2013.
54 Going Concern
The Company has incurred loss during the current year as well as in the previous years, current liabilities are higher than its current assets
and its net worth is negative as on 31st March. 2025. These conditions indicate the existence of a material uncertainty that may cast doubt
about entity's ability to continue as a going concern. The Company has received commitment from promoters / management for infusing the
funds as and when required for any working capital requirement or any other shortfall that may arise. Accordingly, the financial statements
are prepared on a going concern basis.
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