Notes to Accounts of Comrade Appliances Ltd.

Mar 31, 2025

15. CONTINGENT LIABILITIES AND PROVISIONS

The Company creates a provision when there is present obligation as a result of a past event that probably
requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may,
but probably will not, require an outflow of resources. When 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.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no
longer probable that an outflow of resources would be required to settle the obligation, the provision is reversed.
Contingent assets are not recognized in the financial statements. However, contingent assets are assessed
continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and related
income are recognized in the period in which the change occurs.

Loss contingencies arising from claims, litigation, assessment, fines, penalties, etc. are recorded when it is
probable that a liability has been incurred and the amount can be reasonably estimated.

16. EARNINGS PER SHARE:

Basic earnings per share are computed by dividing the net profit for the year attributable to the equity
shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per
share is computed by dividing the net profit attributable to the equity shareholders for the year by the weighted
average number of equity and dilutive equity equivalent shares outstanding during the year, except where the
results would be anti-dilutive.

17. CASH FLOW:

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of
transactions of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and item of income or expenses associated with investing or financing cash flows. Cash flows from operating,
investing and financing activities of the Company arc segregated, accordingly.

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Mar 31, 2024

Note 35

Other Relevant Disclosures

Additional regulatory information required by Schedule III of Companies Act, 2013:

Balance of Debtors & Creditors & Loans & advances Taken & giving are subject to confirmation and subject to consequential adjustments, if any. Debtors & creditors balance has been shown separately and the advances received and paid from/to the parties is

A. shown as advance from customer and advance to suppliers.

The company has no transactions, which are not recorded in the books of accounts and which are surrendered or disclosed as income

B. during the year in the tax assessment or in search or survey or under any other relevant provision of the Income T ax Act, 1961.

C. The Company has not traded or invested in crypto currency or virtual currency for the year ended March 2024 and March 2023.

The Company do not had any transaction for the year ended March 2024 and March 2023 with the companies which are struck off under

D. section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

The company has not been declared as willful defaulter by any bank or from any other lender for the year ended March 2024 and March

E. 2023.

The company has registered all the charges which are required to be registered under the terms of the loan and liabilities and submitted

F. Documents with ROC within the period as required by Companies Act, 2013.

As per the information & detail available on records and the disclosure given by the management, the company has complied with the number of layers prescribed under clause (87) of section 2 of the companies act read with the Companies (Restriction on number of

G. layers) Rules 2017.

loaned or invested to any other person or entity or foreign entitles with the understanding that the intermediary shall directly or indirectly

lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the company or provided any guarantee, security or like to or on behalf of the company. Further the company has not received any funds from any person, entity including the foreign entity with the understanding that the company shall directly or indirectly lend, invest or guarantee, security or like manner on

H. behalf of the funding party.

Compliance with approved scheme(s) of arrangements: The Company has not entered into any scheme of arrangement which has an

I. accounting impact on current or previous financial year.

J. The said provisions of Corporate Social Responsibility under section 135 of Companies Act, 2013 are not applicable to the company.