(j) Provisions and Contingent Liabilities:
A provision is recognized when the company has a present obligation as a result of past event; it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.
Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.
(k) Earnings per share:
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.
(l) Current Assets. Loans & Advances:
In the opinion of the Board and to the best of its knowledge and belief the value on realization of current assets in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and repayable on demand.
AS PER OUR REPORT OF EVEN DATE ATTACHED For Gupta Agarwal & Associates
For CLARA INDUSTRIES LIMITED Chartered Accountants
Firm’s Registration No: 329001E
PARRY KUKREJA NIKHIL KUKREJA NIDHI VARUN KUMAR
Jay Shanker Gupta
MANAGING DIRECTOR DIRECTOR & CFO COMPANY SECRETARY Partner
DIN: 06649401 DIN: 06649387 Membership No: 059535
UDIN: 23059535BGSWTU9155
Place: Kolkata Date: 25.05.2024
Place: Saharanpur Date: 25.05.2024
|