j. Provisions & Contingencies
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 embodying
economic benefits will be required to settle the
obligation and a reliable estimate can be made of the
amount of the obligation. Provisions are not discounted
to their present value and are determined based on
the best estimate required to settle the obligation at
the reporting date. These estimates are reviewed at
each reporting date and adjusted to reflect the current
best estimates.
k. Contingent liabilities
A contingent liability is a possible obligation that arises
from 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. A contingent
liability also arises in extremely rare cases where
there is a liability that cannot be recognized because
it cannot be measured reliably. The company does
not recognize a contingent liability but discloses its
existence in the financial statements.
l. Cash and cash equivalents
Cash and cash equivalents for the purposes of cash
flow statement comprise cash at bank and in hand and
short-term investments with an original maturity of
three months or less.
m. Current and non current classification
Company presents assets and liabilities in the balance
sheet based on current/non-current classification.
An asset is treated as current when it is:
• Expected to be realised or intended to sold or
consumed in normal operating cycle
• Held primarily for the purpose of trading
• Expected to be realised within twelve months
after the reporting period, or
• Cash or cash equivalents unless restricted from
being exchanged or used to settle a liability for at
least twelve months after the reporting period
All other assets are classified as non-current
A liability is treated as current when it is:
• Expected to be settled in normal operating cycle
• Held primarily for the purpose of trading
• Due to be settled within twelve months after the
reporting period, or
• There is no unconditional right to defer the
settlement of the liability for at least twelve
months after the reporting period
All other liabilities are classified as non-current.
Deferred tax assets/liabilities are classified as non¬
current assets/liabilities.
The operating cycle is the time between the acquisition
of assets for processing and their realisation/
settlement in cash and cash equivalents. The
companies have identified twelve months as their
operating cycle for classification of their current
assets and liabilities.
31. EMPLOYEE BENEFITS
The Company participates in defined contribution and benefit schemes, the assets of which are held (where funded) in
separately administered funds.
For defined contribution schemes the amount charged to the statement of profit or loss is the total of contributions
payable in the year.
A. Defined contribution plan
The Company makes contributions towards provident fund and employee state insurance scheme to a defined
contribution retirement benefit plan for qualifying employees. The Company's contribution to the Employees Provident
Fund and Employees State Insurance scheme is deposited with the Regional Provident Fund Commissioner. Under the
scheme, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit scheme
to fund the benefits.
During the year, the Company has recognised I NR 5.13 Lacs (Previous year INR 4.71 Lacs) for Employer's contributions to
the Provident Fund and INR 0.39 Lacs (Previous year INR 0.22 Lacs) for Employee State Insurance Scheme contribution
in the Statement of Profit and Loss. The contribution payable to the plan by the Company is at the rate specified in rules
to the scheme.
B. Defined benefit plan - Gratuity plan
The gratuity liability arises on retirement, withdrawal, resignation and death of an employee. The aforesaid liability is
calculated on the basis of fifteen days salary (i.e. last drawn basic salary) for each completed year of service subject to
completion of five years service.
Risks associated with Plan Provisions
Risks associated with the plan provisions are actuarial risks. These risks are:- (i) interest risk (discount rate risk), (ii)
mortality risk and (iii) salary risk.
In respect of the plan in India, the most recent actuarial valuation of the plan assets and the present value of the defined
benefit obligation were carried out as at March 31, 2025 by Charan Gupta Consultants Private Limited. The present value
of defined benefit obligation, and the related current service cost and past service cost, were measured using the projected
unit credit method.
The following tables summarise the components of net benefit expense recognized in the statement of profit and loss and
amounts recognized in the balance sheet for the gratuity plan.
37. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post employment
benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However,
the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been
issued. The Company will assess the impact of the Code when it come into effect and will record any related impact in
the period the Code becomes effective. Based on a preliminary assessment, the Company believes the impact of the
change will not be significant.
38. INTEREST IN OTHER ENTITIES
The Company has following subsidiaries and associates held directly and indirectly by the Company which operate and
are incorporated around the world. Following are the details of shareholdings in the subsidiaries:
41. OTHER INFORMATION
i. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
ii. The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.
iii. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:
(a) 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
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
iv. The Company have 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:
(a) 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
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
v. The Company have not any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961.
i. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
ii. The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.
iii. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:
(a) 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
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
iv. The Company have 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:
(a) 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
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
v. The Company have not any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961.
42. During the year, the company has invested an amount of INR 353.85 lacs in its wholly owned foreign subsidiary, Zeal
Global Services LLC-FZ, incorporated in Meydan Free Zone, Dubai on September 04, 2024.
43. The Company is in the process of migrating to upgraded version of accounting software for maintaining its books of
account that has a feature of recording audit trail (edit log) facility from legacy accounting software. The audit trail
feature in respect of the legacy accounting software is not enabled for direct changes to data for the financial year ended
March 31, 2025.
44. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the
Company.
45. The Company has regrouped/reclassified certain balances of previous year to conform with current year's presentation.
As per our report of even date
For Goel Gaurav & Co. For and on behalf of the
Chartered Accountants Board of Directors
ICAI Firm Registration Number: 022467C
per Anuj Kumar Gupta Nipun Anand Vishal Sharma
Partner Whole Time Director & Managing Director
Chief Financial Officer
Membership Number: 086055 DIN : 06788513 DIN : 03595316
Place : New Delhi Place : New Delhi Place : New Delhi
Date: May 30, 2025 Date: May 30, 2025 Date: May 30, 2025
Monal Gupta
Company Secretary
Membership No: ACS 29974
Place : New Delhi
Date: May 30, 2025
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