Provisions, Contingent Assets And Contingent Liabilities.
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 (excluding retirement benefits) 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.
Claims
Claims against/ by the Company arising on any account are provided in the books of account on receipt basis.
II EXPLANATORY/ CLARIFICATORY NOTES
Company is incorporated with authorised share capital of Rs. 8000 lakh (750,000,000 equity shares at the rate Re. 1/-
1 each & 50,000,000, 10% Redeemable Cumulative Preference shares at the rate Rs. 10/- each). Subscribed and fully
paid up share capital is Rs 19,98,89,650 (19,98,89,650 equity shares at the rate of Re 1/- each).
Capital work in Progress: -
4 Capital work in Progress of Rs. 111.87 lakh in respect of TIN Project at Haldia, where there is no activity for the last
Sixteen to Seventeen years and no expenses have been incurred on the project that is of capital nature.
Impairment of Assets: -
In pursuance of accounting standards (AS-28) on Impairment of Assets issued by the Institute of Chartered
5 Accountants of India, the company has reviewed the carrying amount of Fixed Assets & Capital Work in Progress
for the purpose of ascertaining impairment, if any. On such review as at 31.03.2024, management is of the view that
the realizable value of the fixed assets and capital work in progress is more than the carrying amount, no provision
is required to be made.
11 In the opinion of the Board, current assets, loans & advances have a value in the ordinary course of business at least
equal to that stated in Balance Sheet.
12 Figures for the previous year have been rearranged and regrouped wherever necessary.
For A A A M & CO LLP For and on behalf of the Board of Directors
Chartered Accountants
(Firm Reg No. 08113C/ C400292)
UDIN - 24419625BKAQUJ6841
Sd/- Sd/- Sd/-
CA Rahul Gupta (Meena Rastogi) (Sheetal Jain)
(Partner) Chairperson Managing Director
M. No. 419625 DIN:01572002 DIN: 00269470
Sd/-
Date : 21.05.2024 (Rajeev Kumar Gupta)
Place: New Delhi CFO
PAN: AGOPG2534R
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