16. Provisions, Contingent Liabilities, Contingent Assets and Capital Commitments:
Disputed liabilities and claims against the company including claims raised by fiscal authorities (e.g. Sales Tax, Income Tax Excise etc.) pending in appeal / court for which no reliable estimate can be made and or involves uncertainty of the outcome of the amount of the obligation or which are remotely poised for crystallization are not provided for in accounts but disclosed in n otes to accounts.
However, present obligation as a result of past event with possibility of outflow of resources, when reliable estimation can be made of the amount of obligation, is recognized in accounts in terms of discounted value, if the time value of money is mater ial using a current pre-tax rate that reflects the risk specific to the liability.
No contingent asset is recognized but disclosed by way of notes to accounts.
17. Impairment of assets
Impairment loss is recognised when the carrying amount of an asset exceeds its recoverable amount/Value in use.
Recoverable amount is determined:
In the case of an individual asset, a higher of the net selling price and the value in use;
In the case of a cash generating unit (a group of assets that generates identified, independent cash flows), at higher of the cash generating unit's selling price and the value in use.
Value in use is determined as the present value of estimated future cash flows from the continuing use of an asset and from its disposal at the end of its useful life.
18. Cash flow statement:
Cash flow statement has been prepared under the indirect method as set out in the Indian Accounting Standard 7: "Statement of Cash Flows" as specified in Section 133 of the Companies Act, 2013.
For Rao and Emmar., For and on behalf of the Board of Directors
Chartered Accountants Membership No. 212948
S B Subhash Rajeev Sikka Kunal Sikka
Partner Executive Chairman Managing Director & CEO
Membership No. 220210 DIN: 00902887 DIN: 05240807
Place: Bengaluru R N Chawhan Barun Pandey Sathish KS
Date:20-05-2024 Company Chief financial
Director Secretary Officer
DIN: 00568833 M No. A39508 PAN:AZZPS1377G
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