3. Provisions and contingencies:

A provision is recognized when the Company has a present obligation as a result of
past events and 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 their present value and are determined based on the 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 disclosed in the Notes. Contingent assets are not recognized in the
financial statements.

4. Contingent Liabilities:

• No provision is made for liabilities which are contingent in nature but, if material, the
same are disclosed by way of notes to the accounts.

• ^The amount of counter guarantees given by the company, claims against the company

not acknowledged as debts and estimated amount for labour work remaining to be
executed is not ascertained.

5. Remuneration paid to directors during the year is Rs. 48,00,000/- (PY Rs. 48,00,000/-)

6. In the opinion of Directors, the current assets, Loans & Advances, are approximately
-of the value as stated, if realized in the ordinary course of business.

7. The Outstanding balances of Trade Receivables, Trade Payables, Unsecured Loan
received, Loans & Advances given, Advance given to Suppliers and Advance received
from Customers, TDS Receivable accounts and GST Accounts are Subject to
Confirmation, reconciliation and consequent adjustments, if any.

8. The Previous year figures have been reworked, regrouped, rearranged and re-classified
wherever necessary, so as to correspond with the current year classification.

9. The title deeds of the immovable property (other than properties where the company
is the lessee and the lease agreement is duly executed in favour of the lessee) are held
in the name of the company. Office premises no. 801 to 804 at Cresent tower with its
basement parking forming part of land and building is not yet transferred in
company's name after succession/conversion of predecessors proprietary concern
M/s. bright advertising agency through its proprietor Mr. Yogesh Lakhani during F.Y
2007-08.

10. Other additional regulatory requirement disclosures as per amendments in Schedule
III (Revised) to the Companies Act, 2013 which are effective from 01/04/2021, are
not applicable to the company for the year under review.

11. The Information as required by Section 22 of MSMED Act, 2006 as per the details
provided by Management.

I. (a) The Principal amount due to Micro and small Enterprises at year end as
per books of accounts-Rs. Nil. (P.Y. Rs. Nil.)

(b) Interest due to Micro and Small Enterprises at year end as per books of
accounts-Rs. Nil.

II. The amount of interest paid to Micro and Small enterprises along with
payment made to them beyond the appointed day during the year-Rs. Nil.

III. The amount of interest due and payable to Micro and Small Enterprises on the
Principal payment beyond the appointed day during the year without interest-
Rs. Nil.

IV. The amount of interest accrued and remaining unpaid to Micro and Small
Enterprises at the year-end-Rs. Nil.

V. The amount of further interest by compounding the above interest till its
payment in succeeding year-Rs. Nil.

12. Key financial ratios are annexed separately.