XV PROVISIONS/ CONTINGENT LIABILITIES AND ASSETS
Provision:

A provision is recorded 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
reasonably estimated. The estimated liability for product warranties is recorded when products are sold based
on technical evaluation.

Provisions are measured at the present value of management's best estimate of the expenditure required to
settle the present obligation at the end of the reporting period. Provisions are discounted when time value of
money is material. 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 interest expenses.

Contingent liabilities:

Wherever there is a possible obligation that arises from past events and whose existence will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
entity or a present obligation that arises from past events but is not recognized because (a) it is not probable
that an outflow of resources embodying economic benefits will be required to settle the obligation; or (b) the
amount of the obligation cannot be measured with sufficient reliability. Show cause notices are not considered
as Contingent Liabilities unless converted into demand.

Contingent assets:

Wherever there is a possible asset that arises from past events and whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
entity. A contingent asset is disclosed when the inflow of economic benefit is probable.

XVIII) SEGMENT REPORTING:

The Company is primarily engaged in the business of manufacturing aluminium electrolytic capacitors. Since,
the nature of the activities is governed by the same nature of risks, these are grouped as single segment.

A. Title deeds of Immovable Property not held in name of the Company:

The company does not hold any immovable property whose title deeds are not held in it's name. The title deeds
of all immovable properties are held in the name of the Company and no immovable property is jointly held with
others.

B. Revaluation of Property, Plant and Equipment:

The Company has not revalued any of its 'Property, Plant and Equipment' either during the current year or in the
previous year.

C. Loans or Advances - Additional Disclosures:

The company does not have any Loans or Advances in the nature of Loans granted to the promoters, directors,
key managerial persons and the related parties, either severally or jointly with any other person, that are
repayable on demand or without specifying any terms or period of repayment.

D. Capital Work in Progress - (CWIP): - CWIP aging schedule

The Company does not have any Capital work in progress duirng the year 2023-24 and also during the previous
year 2022-23

There are no capital work in progress to the company during the current year. And the capital work in progress
in the previous year was neither actively suspended nor the completion is overdue or has exceeded its cost
compared to its original plan.

E. Intangible assets under development:

There are no intangible assets under development to the company during the current year or in the previous
year.

F. Security of current assets against borrowings:

The company has not availed working capital loans from the bank against the first charge of the Stocks &
Receivable and against the security of the immovables property of its related parties along with third party
guarantees.

G. Details of Benami Property held:

The Company doesn't hold any Benami Properties and no proceedings have been initiated or pending against
the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and the
rules made thereunder.

H. Wilful Defaulter:

The Company is not declared as a wilful defaulter by any bank or financial institution or other lender.

I. Relationship with struck off companies:

The Company has no transaction with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956.

J. Registration of charges or satisfaction with Registrar of Companies:

There is no delay in registering charges or satisfaction of charges with Registrar of Companies beyond the
statutory period and there are no charges or satisfaction yet to be registered with Registrar of Companies
beyond the statutory period.

K. Compliance with number of layers of companies:

The Company doesn't have any subsidiary and hence compliance with Section 2(87) of the Companies Act,
2013 read with Companies (Restriction on number of Layers) Rules, 2017 regarding number of layers doesn't
arise.

L. Compliance with approved Scheme(s) of Arrangements:

The Company has neither applied for nor is in the process of applying for any Scheme of Arrangements by the
Competent Authority in terms of Sections 230 to 237 of the Companies Act, 2013.

M. Utilisation of Borrowed funds and share premium:

The company has neither advanced nor loaned nor invested funds (either borrowed funds or share premium or
any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediar¬
ies) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(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

(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.

N. Undisclosed Income

The company does not have any transaction that are not recorded in the books. The company has not surren¬
dered or disclosed any income during the financial year 2022-23 and in previous year 2021-22 in tax assess¬
ments under the Income Tax Act, 1961 and there are no previously unrecorded income and the related assets
during the year or in the previous year.

P. Corporate Social Responsibility:

The company is not covered under section 135 of Companies Act, 2013. Hence, the requirement laid down
under section 135 of the Companies Act, 2013 for corporate social responsibility is not applicable to the com¬
pany.

Q. Details of crypto currency or virtual currency:

The company has not traded or invested in crypto currency or virtual currency during the financial year.