1 COMPANY INFORMATION

Pacheli Industrial Finance Limited is a Public Limited Company (The Company) having registered office at C-001, Prathamesh Horizon, New Link Road, Borivali (W), Mumbai, Maharasthra-400092. The Company is listed on the BSE (Bombay Stock Exchange) The company is engaged in financing business and investment activities. We believe that we are well placed to leverage on the growth opportunities in the economy.

2. SIGNIFICANT ACCOUTING POLICIES

(a) Basis for preparation of Accounts:

The financial statements have been prepared under the historical cost convention on accrual basis, except pertaining to amalgamation accounting in the earlier years, in accordance with the generally accepted accounting principles, provisions of the Companies Act, 2013, and Accounting Standards (AS) notified under Companies (Accounting Standards) Amendment Rules, 2017u/s 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014.The Financial Statement have been prepared inconformity with generally accepted accounting principle to comply in all material respect with the notified accounting standards (‘AS’) under companies accounting standards Rules, as amended, the relevant provisions of the companies Act, 2013 (‘the Act’). The financial statements have been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year. The company adopts accrual system of accounting unless otherwise stated.

(b) Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the result of operations during the reposting year end. Although these estimates are based upon management’s best knowledge of current events and actions, actual result could differ from these estimates. Any revisions to the accounting estimates are recognized prospectively in the current and future years.

(c) Fixed Assets

There is no fixed assets in the company.

(d) Depreciation & Impairment of Assets

Depreciation on fixed assets is provided on Written down Value method, over the useful lives and in the manner prescribed in Schedule II to the Companies Act, 2013.

(e) Investment

Long-term investments are stated at cost. Provision of diminution in the value of long-term investments is made only if; such a decline is other than temporary in the opinion of the management. As in case of our company such decline is presumed to be temporary hence no provision has been created.

(f) Revenue Recognition

There are not any revenue generated from business activity

(g) Employee Benefits

Company do not follow the provision of the accounting Standard-15 “Employee benefits” as the company do not have employee more than 10 personnel’s. So it is the policy of the company that any kind of provision mentioned in the AS -15 will not be entertained. And the company does not make provision for gratuity also.

In case the company’s employee limits goes beyond the prescribed limits then AS-15 for Employee benefits will be taken into consideration.

(h) Financial Derivatives and Commodity Hedging Transaction:

In respect of Derivative contracts, premium paid, gain & losses on settlement and losses on restatement are recognized in the Statement of profit & Loss.

(h) Accounting of Inventories:

Stock in trade should be valued at cost or market price whichever is lower.

(i) Taxation

Provisions for current tax is made in accordance with and at the rates specified under the Income Tax Act, 1961, in accordance with Accounting Standard 22- ‘Accounting for taxes on Income’, issued by the Institute of Chartered Accountant of India.

(j) Earnings per share

Basic earning per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted averages number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all diluted potential equity shares.

(k) Cash and Cash Equivalents

Cash and cash equivalents in the cash flow statements comprise cash at bank and in hand and highly liquid investments that are readily convertible into known amount of cash

3. In the opinion of Board of Director, the current Assets, loans & advances have a value on realization in the ordinary course of business at least equal to the amount at which these are stated.

4. During the year, the company has purchase shares Quoted/unquoted and commodities (If Any) have been considered as investment by the management.

5. During the year the company has borrowed interest bearing loan from various entities.

6. During the year, the company has been traded in F& O’s.

7. Contingent liabilities and pending litigations:

There is no contingent liabilities pending against the company.

8. The company’s business activity falls within two primary/ secondary business segment viz. Finance Activity and dealing in shares & securities. The disclosure requirement of Accounting standard (AS) -17 “Segment Reporting “issued by the Institute of chartered Accountants of India, therefore is given below:

11. Related Party Disclosure:

As per Accounting Standard 18 on related Party disclosure issued by the Institute of chartered Accountants of India, the nature and volume of transaction of the company during the year with the related parties. There is no related parties during the year.

12. The Company estimates the deferred tax created / (credit) using the applicable rate of Taxation based on the impact of timing Difference s between financial Statements and Estimated taxable income for the current Year. It will be write off in next financial year.

13. There are no micro, Small and Medium Enterprises, to whom the Company owes dues which outstanding for more than 45 days as at 31^st March 2024. This information as required to be disclosed under the micro, small and medium Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with company.