• Provisions And Contingent Liabilities
A provision is recognized if, as a result of a past
event, the Company has a present legal obligation
that is reasonably estimable, 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 likely
future 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.
• Cash & Cash Equivalents
Cash and cash equivalents comprise cash and
cash on deposit with banks. The Company
considers all highly liquid investments with a
remaining maturity at the date of purchase of
three months or less and that are readily
convertible to known amounts of cash to be cash
equivalents.
• Lease
Leases where the Lessor effectively retains
substantially all the risks and benefits of ownership
of the Leased Asset, are classified as 'Operating
Leases". Lease rentals with respect to assets taken
on 'Operating Lease' are charged to Statement of
Profit and Loss on a straight line basis over the
lease term.
Leases which effectively transfer to the Company
substantially all the risks and benefits incidental to
the ownership of the leased item are classified as
'Finance Lease'. Assets acquired on Finance Lease
which substantially transfer all the risks and rewards
of ownership to the Company are capitalized as
assets by the Company at the lower of the fair
value and the present value of the minimum lease
payment and a liability is created for an equivalent
amount. Lease rentals payable is apportioned
between the liability and finance charge so as to
obtain a constant periodic rate of interest on the
outstanding liability for each year.
• Investments
Investments, which are readily realizable and
intended to be held for not more than one year
from the date on which such investments are made,
are classified as current investments. All other
investments are classified as long-term investments. On initial recognition, all investments are measured at
cost. The cost comprises purchase price and directly attributable acquisition charges such as brokerage,
fees and duties. Current investments are carried in the financial statements at lower of cost and fair value
determined on an individual investment basis. Long-term investments are carried at cost.
However, provision for diminution in value is made to recognize a decline other than temporary in the value
of the investments.
On disposal of an investment, the difference between it carrying amount and net disposal proceeds is
charged or credited to the statement of profit and loss.
• SEGMENT REPORTING
Company is operating under a single segment.
For Mittal & Associates For and on behalf of the Board of Directors
Chartered Accountant
FRN: 106456W
sd/- sd/-
Atul Modi Namrata Modi
Managing Director Executive Director & CFO
sd/- DIN:00788272 DIN:00788266
Hemant Bohra
Partner
Membership Number: 165667 sd/-
UDIN: 25165667BMMLAJ1680 Aman Sadhotra
Place: Mumbai Company Secretary
Date:27th May, 2025 PAN: HDUPS3709E
Place: Jammu
Date:27th May, 2025
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