Terms and rights attached to equity shares:
The Company has only one class of equity share having par value of Rs. 10/- per share. Each holder of Equity share is entitled to one vote per share.
In the event of liquidation of the company, the holder of equity shares will be entided to receive remaining assets of the Company after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity share held by the shareholders.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using the closing NAV.
Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) 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. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.
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28 Disclosure pursuant to IND AS -19 ’Employee Benefits*
Defined Benefit Plan:
The following are the types of defined benefit plans: a Gratuity Plan
15 days salary for every completed year of service. Vesting period is 5 years and payment is restricted to Rs. 20 lacs. The present value of defined obligation and related current cost are measured using the Projected Credit Method with actuarial valuation being carried out at each balance sheet date.
29 Contingent Liabilities and Commitments
Claims against the company not acknowledged as debts:
A demand of ?2,41,991/- has been raised against the Company by the Income Tax Department for Asst Year 2007-08 vide order u/s 143(1) on 06.02.2009. The Company has disputed the same by preferring an appeal before the ITAT - Mumbai The Appeal is still pending. As per Income Tax Dept, demand of ?23,011/- is still outstanding as on date.
2Q No proceedings have been initiated or is pending against the Company fold holding any benami property under the Benami Transactions (Prohibhition) Act, 1988 (45 of 1988) and the rules made thereunder
31 The Company has not been declared wilful defaulter by any bank or financial Institution or other lender.
32 The Company does not have any transactions with companies struck off under section 248 of the companies Act, 2013 as on the Balance Sheet date
33 To the best of the knowledge and belief of the management, as on the date of balance sheet, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s), including foreign entities ("Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, direcdy or indirecdy lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
34 The Company does not have any transactions not recorded in books of accounts that has been surrendered or disclosed as income during the year and previous year in the tax assessments under the Income Tax Act, 1961.
35 The Company has not traded or invested in any crypto currency or virtual currency dining the year and previous year.
36 There has been no fraud by the Company or on the Company during the year and previous year.
39 An interest-free advance of ?75,00,000/- has been given to M/s W D Enterprises Private limited on 20th March, 2024 in respect of purchase of office and training equipments. The advance still remains and no purchases have been made till 31st March, 2024. However the managment is planning to do necessary purchases in the forseeable future. The same has been disclosed as Advances Given under Loan - Non-Current in Note 3 (b) of Notes forming part of the financial statements..
40 An interest-free advance of ?2,25,00,000/- has been given to M/ s Pronto Entertainment Private limited on 20th March, 2024 in respect of hosting of event for providing training to students and other participants. The advance still remains and no expenses have been incurred till 31st March, 2024. However the managment is planning to host such events in the forseeable future. The same has been disclosed as Advances Given under Loan - Non-Current in Note 3(b) of Notes forming part of the financial statements..
41 The company has acquired two subsidiaries namely Global Talent Track Private limited and Itarium Technologies India Private limited on 13th March, 2024. Hence the consolidation has been prepared considereing 13th March, 2024 as the date of acquisition. Further no previous year figures have been reported since this is the first year of acquisition of any subsidiary
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