q) Provisions Contingent liabilities and contingent assets:-
A provision is recognized if, as a result of a past event, the Company has a present legal
obligation that can be estimated reliably, and it is probable that an outflow of economic
benefits will be required to settle the obligation. Provisions are determined by the best
estimate of the outflow of economic benefits required to settle the obligation at the
reporting date. Where no reliable estimate can be made, a disclosure is made as
Contingent Liability.
A disclosure for a Contingent Liability is also made when there is a possible obligation or a
present obligation that may, but probably will not, require an outflow of resources. Where
there is a possible obligation or a present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.
Possible obligation that arises from the past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not
probable that an outflow of resources will be required to settle the obligation is reported
as Contingent Liability. In the rare cases, when a liability cannot be measures reliable, it is
classified as Contingent Liability. The Company does not recognize a Contingent Liability
but disclosed its existence in the standalone financial statements.
r) Event after Reporting Date:-
Where events occurring after the Balance Sheet date provide evidence of condition that
existed at the end of reporting period, the impact of such events is adjusted within the
standalone financial statements. Otherwise, events after the Balance Sheet date of material
size or nature are only disclosed.
All the events occurring after the Balance Sheet date up to the date of the approval of the
standalone financial statement of the Company by the board of directors on May 28th 2025,
have been considered, disclosed and adjusted, wherever applicable, as per the
requirement of Accounting Standards.
26. Figures in financial statement have been regrouped and / or rearranged where ever necessary.
27. The balances of Trade payables, Trade Receivable and loans and advances are subject to
confirmation by respective parties.
28. In the opinion of the Board of Directors, the current assets, loans and advances are
approximately of the value stated, if realized in the ordinary course of business.
29. In the opinion of the Board of Directors, provisions for depreciation and all liabilities are
adequate and not in excess of the amount reasonably necessary.
30. Wherever external evidence in the form of cash memos / bills / supporting are not available,
the internal vouchers have been prepared, authorized and approved.
31. Statement of Management
(i) The current assets, loans and advances are good and recoverable and are approximately
of the values, if realized in the ordinary courses of business unless and to the extent
stated otherwise in the Accounts. Provision for all known liabilities is adequate and not
in excess of amount reasonably necessary.
(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read together with
Notes to the accounts thereon, are drawn up so as to disclose the information required
under the Companies Act, 2013 as well as give a true and fair view of the statement of
affairs of the Company as at the end of the year and results of the Company for the year
under review.
32. Estimated amount of contracts remaining to be executed on capital account and not provided
for: - NIL.
33. The Company has not advanced or loaned to or invested in funds to any other person(s) or
entity (is), including foreign entities (Intermediaries) with the understanding that the
Intermediary shall:
a. directly or indirectly lend to or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
34. The Company has not received any fund from any person(s) or entity(is), including foreign
entities (Funding Party) with the understanding (whether recorded in writing or otherwise)
that the Company shall:
a. directly or indirectly lend to or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
b. provides any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
35. The company's is in a business of stock broking in NSE and BSE as trading & clearing member
and has earned brokerage income. The company has also carried out the business of trading in
shares & securities in cash segment. The company has also carried out the business of trading
in futures & options in shares and trading in commodity derivatives.
36. The Company has carefully considered the impact of Accounting Standard-28 pertaining to
Impairment loss. As the recoverable amount of assets is higher than the W.D.V. of its Fixed
Assets and hence no provision is made for impairment of Assets.
37. In the opinion of the Board of Directors, provisions for depreciation and all liabilities are
adequate and not in excess of the amount reasonably necessary.
The company has initiated the process of obtaining the confirmation from suppliers who have
registered themselves under the Micro, Small and Medium Enterprises Development Act, 2006
(MSMED Act, 2006) but has not received the same in totality. The above information is
compiled based on the extent of responses received by the company from its suppliers.
42. Title deeds of immovable Property
Tittle deeds of immovable property has not been held in the name of promoter, director, or
relative of promoter/ director or employee of promoters / director of the company, hence
same are held in the name of the company.
43. Revaluation of Property, Plant and Equipment and Intangible Assets:-
The company has not done revaluation of Property, Plant and Equipment and Intangible
Assets.
44. Loans or Advances in the nature of loans to promoters, directors, KMPs and the related
parties:-
No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the
related parties (as defined under Companies Act, 2013,) either severally or jointly with any
other person.
45. Capital Work In Progress (CWIP):-
There is no Capital Work In Progress (CWIP) for the current year
46. Intangible assets under development:-
There is no Intangible assets under development in the current year.
47. Details of Benami Property held:-
The company does not have any benami property, where any proceeding has been initiated or
pending against the company for holding any benami property under the Benami Transaction
(prohibition) act, 1988 and rules made there under.
48. Borrowings from bank or financial institution on the basis of current assets:-
Quarterly returns or statements of current assets filed by the Company with banks or financial
institutions are in agreement with the books of accounts.
49. Wilful Defaulter:-
The Company has not been declared a wilful defaulter by any bank or financial institution or
government or government authority
50. Relationship with Struck off Companies:-
The company does not have such transaction with Struck off Companies.
51. Registration of charges or satisfaction with Registrar of Companies:-
The company does not have any charges or satisfaction, which is yet to be registered with
Registrar of Companies beyond the statutory period.
52. Compliance with approved Scheme(s) of Arrangements
The Company does not have made any arrangements in terms of section 230 to 237 of
companies act 2013, and hence there is no deviation to be disclosed.
53. Utilization of Borrowed funds and share premium:-
As on March 31, 2024 there is no unutilized amount in respect of any issue of securities and
long term borrowings from bank and financial institutions. The borrowed funds have been
utilized for the specific purpose for which the funds were raised.
54. Corporate Social Responsibility (CSR):-
The section 135 Corporate Social Responsibility of Companies Act, 2013 is not applicable to the
Company.
55. Details of crypto currency or virtual currency:-
The company has not traded or invested in crypto currency or virtual currency during the
financial year.
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