Accounting Policies of Credent Global Finance Ltd. Company

Mar 31, 2025

1 Corporate Information

Credent Global Finance Limited ("the Company") having its registered office at 609-A, 6th Floor, C-wing, One BKC, G Block,Opposite Bank of Baroda, Bandra Kurla Complex, Bandra (East), Mumbai, Bandra, Maharashtra, India, 400051 was incorporated on 27 February 1991 under Indian Companies Act, 1956. The Company is presently classified as Non-Deposit taking Non Banking Financial Company (‘NBFC’). The equity shares of the Company are listed on BSE Limited (“BSE”) in India.

The corporate identification number of the company is L65910MH1991PLC404531. The Company is in the business of finance and investement.

2 Material Accounting Policies :

2.1 Statement of compliance

The standalone financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), as per the Companies Act, (Indian Accounting Standards) Rule, 2015 as amended from time to time and notified under section 133 of the Companies Act, 2013 (the Act) along with the other provisions of the Act.

2.2 Basis of preparation and presentation

The financial statements of the Company have been prepared in accordance with IND AS notified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time. The financial statements have been prepared under the historical cost convention, as modified by the application of fair value measurements required or allowed by relevant IND AS at the end of each reporting period.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Accounting policies have been consistently applied to all periods presented, unless otherwise stated. The preparation of financial statements require the use of certain significant accounting estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosed amount of contingent liabilities.

The management believes that the estimates used in preparation of financial statements are prudent and reasonable: Actual results could differ from those estimates and the differences between the actual results and the estimates would be recognised in the periods, in which the results are know/materialised.

The financial statements are presented in Lacs, Comparative information has been restated to accord with changes in presentations made in the current year, except where otherwise stated

The accounting police for some specific items are disclosed in the respective notes to the financial Statements. Other significant accounting policies and details of significant accounting assumptions and estimates are set out below in Notes.

The financial statements of the Company are presented as per Schedule lll (Division lll) to the Act applicable to Non- Banking Financial Companies (NBFCs), as notified by the MCA.

2.3 Revenue recognition

Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company, it can be reliably measured and it is reasonable to expect ultimate collection.

Revenue from Operations is recognised in the Statement of Profit and Loss on an accrual basis as stated herein below;

Interest Income from financial assets is recognised by applying the Effective Interest Rate (''EIR'') to the gross carrying amount of Financial assets, other than credit- Impaired assets and those classified as measured at Fair Value Through Profit of Loss (FVTPL) OR Fair Value through Other Comprehensive Income ( FVTOCI),

Any subsequent changes in the estimation of the future cash flows having impact on EIR are recognised in interest income with the corresponding adjustment to the carrying amount of the assets.

Other interest income is recognised on a time proportionate basis.

2.4 Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

2.4.1 Current tax

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities

Current tax is the amount of tax payable on the taxable income for the period as determined in accordance with the applicable tax rates and the provisions of the Income tax Act,1961.

2.4.2 Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the standalone financial statements and the corresponding tax base used in the computation of taxable profit,

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting period,

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity),

Deferred tax items are recognised in correlation to the underlying transaction either in OCI or equity: Deferred tax assets and liabilities are offset it such items relate to taxes an income levied by the same governing tax laws and the Company has a legally enforceable right for such set off.

2.5 Property plant and equipment A. Initial recognition

Property, plant and equipment are initially recognised at cost together with borrowing cost capitalized for qualifying assets. If any Cost comprises the purchase price and any directly attributable cost of bringing the asset to the location and its working condition for its intended use. Changes in the expected useful life are accounted for by changing the amortisation period or methodology, as appropriate, and treated as changes in accounting estimate

Subsequent to initial recognition property, plant and equipment are measured at cost less accumulated depreciation and accumulated Impairment, if any,

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is portable that the future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably, The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the Statement of Profit and Loss during the reporting period in which they are incurred.

Derecognition

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the next disposal proceeds and the carrying amount of the asset and is recognised in the Statement of Profit and Loss. The date of disposal of an item of property, plant and equipment is the date the recipient obtains control of that item in accordance with the requirements for determining when a performance obligation is satisfied in IND AS 115.

Depreciation

Depreciation commences when the assets are ready for their intended use. It is recognised to write down the cost of the property, plant and equipment to their residual value over their useful lives, using the written down value basis. The estimated use lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

The Company has adopted the useful life as specified in Schedule lll to the Act.

2.6 Provisions,Contingent Liabilities and Contingent Assets

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event. It is probable that the Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used the increase in the provision due to the passage of time is recognised as a finance cost.

A provision for onerous contracts is recognised when the expected benefits to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract.

When some or all of the economic benefits required to settle provision are expected to be recovered from a third party, a receivable is recognised as an asset, if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

In case of litigations, provision is recognised once it has been established that the company has a present obligation based on Information available up to the date on which the Company''s financial statements are finalised and may in the some cases entail seeking expert advice the determination on whether there is a present obligation.

Contingent Liabilities

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 recognised because it is not probable that an outflow of resources will be required to settle the obligation Company does not recognised contingent liability but disclose its existence in the financial statements.

Contingent Assets

Contingent assets are not recognised in the financial statements, but are disclosed where an inflow of economic benefits probable.

2.7 Cash and cash equivalents

Cash and cash equivalents comprise of cash on hand, balances with banks, cheques on hand, remittances in transit and short-term Investments with an ordinal maturity or three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

2.8 Financial instruments

Classification of financial Instruments

The Company Classifies it’s financial into the following measurement categories:

1 Financial assets to be measured at amortised cost

2. Financial assets to be measured at fair value through other comprehensive income

3. Financial assets to be measured at fair value through profit or loss.

The classification depends on these contractual terms of the financial asset cash flows and the Company''s business model for managing financial assets which are explained below

2.9 Business model assessment

The Company determines its business model at the level that best reflects how it manages groups of financial assets to achieve its business objective.

The Company’s business model is not assessed on an instrument-by instrument basis, but at a higher level of aggregated portfolios.

2.10 The Solely Payments of Principal and Interest (SPPI) test

As a second step of its classification process the Company assesses the contractual terms of financial assets to identify whether they meet the SPPI test.

"Principal” for the purpose of this test is defined as the fair value of the financial asset at initial recognition and may change over the life of the financial asset (for example, if there is repayment of principal or amortisation of the (premium/ discount).

In assessing whether the contractual cash flows are SPPI, The Company considers the contractual terms of the instrument. This includes assessing whether the financial assets contain a contractual term that could change the timing or amount of contractual Cash flows such that it would not meet this condition.

The Company classifies is financial liabilities amortised costs unless it has designated liabilities at fair value through the profit and loss account or required to measure liabilities at fair value through profit or loss such as derivative liabilities.

2.11 Recognition of Financial instruments:

Financial assets and financial liabilities are recognised when entity becomes party to the contractual provisions of the instruments. Initial Measurement of Financial Instruments:

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in the Statement of Profit and Loss.

Subsequent Measurement:

Financial Assets

A financial asset is measured at amortised cost, it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and Interest on the principal amount outstanding.

2.12 Financial Assets at Fair Value through Other Comprehensive (FVTOCI)

A financial assets is measured at FVTOCI, if it is held with a bounds model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flow, that are solely payments of principal and interest on the principal amount outstanding.

2.13 Financial Assets at fair value through Profit & Loss (FVTPL)

Financial assets FTVPL include financial held for trading and financial assets designated upon initial recognition as at FVTPL A financial asset that meets the amortised code criteria or debt Instruments that meet the FVTOCI criteria may be designated as at FVTPL upon initial recognition it such designation eliminates significantly reduces a measurement or recognition inconsistency that would arise measuring assets or liabilities or recognise the Profits and losses on them on different bases.

2.14 Effective interest Rate (EIR) Method:

EIR is a method of calculating the amortised cost at allocating interest income or expenses over the relevant period.

The EIR for financial assets or financial liability is computed

a) At the rate that exactly counts estimated future cash receipts or payment through the expected lie of the financial asset on financial liability to the gross carrying amount of a financial act or to the amortised cost of a financial liability on initial recognition.

b) By considering contractual terms of the financial Instrument in estimating the cash flows.

c) Including all fees received between parties to the contra that are integral part of the effective interest rate, transaction costs and all other premium or discount.

2.15 Derecognise of Financial Assets.

The Comply derecognises a financial assets when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially with and rewards of ownership of the asset to another party,

On derecognise of a financial asset accounted under Ind AS 109 in its entity

a) for financial assets measured at amortised cost the gain or loss in the Statement of Profit and LOSS.

b) for financial Assets measured at a value through other comprehensive income the cumulative fair value adjustments previously taken to reserves reclassified to the statement at Profit and Loss unless the asset represents an equity investment in which case the cumulative fair value adjustments previously taken to reserves may be reclassified within Equity.

If the transferred assets is part of a larger financial asset and the part transferred qualifies for derecognition in its entirety, the previous carrying amount of the larger financial asset shall be allotted between the port that continues to be recognised and the part that is derecognised, on the basis of the relative fair values of those parts of the date of the transfer.

If the Company neither transfer nor retains substantially all the risks and rewards at ownership and continues to control the transferred asset it recognises its retained interest in the assets and an associated liability for amounts it may have to pay.

If the Company as substantially all the risks and rewards of ownership of a transferred financial asset, it continues to recognise the financial assets and also recognises a liability for the proceeds received.

2.16 Financial Liabilities & Equity Instruments

Classification a debt or equity financial abilities and equity Instruments, issued are classified according to the substance of the contractual arrangements entered into and the definition official ability and an equity instrument Equity Instrument.

Equity Instruments

An equity instrument is contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Repurchase of the Company''s own equity instrument recognised and deducted directly in equity. No gain or loss is recognised in the statement of Profit und Loss on the purchase sale; ISSUE or cancellation of the Company''s own equity instruments.

Financial Liabilities

The Company classifies all financial abilities as subsequently measured at amortised cost, except for financial abilities at fair value through profit or loss.

Derecognition of financial liabilities

A financial liability is derecognised when the obligation under the ability discharged or cancelled or expires When an existing financial Liability is replaced by another from the same lender in substantially different terms; or the terms of an existing liability are substantially modified, such an exchange or modification treated as the derecognition of the original ability and the recognition new liability. The difference between the carrying amount of the financial ability derecognised and the consideration paid and payable is recognised in the Statement Profit and Loss.

2.17 Off-setting of financial instruments

Financial assets and liabilities are offset and the het mount is reported in the Balance Sheet when there is a legally enforceable right to offset the recognised amounts and there can intention to settle one at basis of realise the asset and settle the liability simultaneously.

2.18 Earnings Per Share (“EPS")

Basic EPS share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting preference dividend, If any, attributable taxes) by the weighted average number of equity shares outstanding during the year For the purpose of calculating diluted earnings per share, the net profit or loss the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares Dilutive potential equity shares are deemed converted as of the beginning of the period, unless they have been lived eta later date. In computing the dilutive comings per shares, only potential equity shares that are dilutive and that either reduces the Earnings per share or increases lose the share are included .

2.19 Significant accounting judgements estimates and assumptions

The preparation of financial statements in conformity with the Ind AS requires the management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities the accompanying disclosure and the disclosure of contingent liabilities at the end of the reporting period. Estimates and underlying assumptions are reviewed on an Ongoing basis. Revisions to accounting, estimates are recognized in the period in what the estimates are revised and future periods are affected. Although these estimates are based on the management''s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amount of assets or liabilities in future periods.

In particular information about significant areas of estimation uncertainty and critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements included in the following notes

2.20 Impairment of financial instruments

Equity instruments are not subject to impairment under Ind AS 109.

The Company recognises lifetime expected credit losses (ECL) when there has been a significant increase in credit risk since initial recognition and when the financial instrument is credit impaired. If the credit risk on the financial instrument has not increased significantly since initial recognition, the Company measures the loss allowance for that financial instrument at an amount equal to 12 month ECL. The assessment of whether lifetime ECL should be recognised is based on significant increases in the likelihood or risk of a default occurring since initial recognition. 12 month ECL represents the portion of lifetime ECL that is expected to result from default events on a financial instrument that are possible within 12 months after the reporting date.

When determining whether credit risk of a financial asset has increased significantly since initial recognition and when estimating expected credit losses, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, including on historical experience and forwardlooking information.

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Mar 31, 2024

2 Material Accounting Policies :

2.1 Statement of compliance

The standalone financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), as per the Companies Act, (Indian Accounting Standards) Rule, 2015 as amended from time to time and notified under section 133 of the Companies Act, 2013 (the Act) along with the other provisions of the Act.

2.2 Basis of preparation and presentation

The financial statements of the Company have been prepared in accordance with IND AS notified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time. The financial statements have been prepared under the historical cost convention, as modified by the application of fair value measurements required or allowed by relevant IND AS at the end of each reporting period.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Accounting policies have been consistently applied to all periods presented, unless otherwise stated. The preparation of financial statements require the use of certain significant accounting estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosed amount of contingent liabilities.

The management believes that the estimates used in preparation of financial statements are prudent and reasonable: Actual results could differ from those estimates and the differences between the actual results and the estimates would be recognised in the periods, in which the results are know/materialised.

The financial statements are presented in Lacs, Comparative information has been restated to accord with changes in presentations made in the current year, except where otherwise stated

The accounting police for some specific items are disclosed in the respective notes to the financial Statements. Other significant accounting policies and details of significant accounting assumptions and estimates are set out below in Notes.

The financial statements of the Company are presented as per Schedule lll (Division lll) to the Act applicable to Non- Banking Financial Companies (NBFCs), as notified by the MCA.

2.3 Revenue recognition

Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company, it can be reliably measured and it is reasonable to expect ultimate collection.

Revenue from Operations is recognised in the Statement of Profit and Loss on an accrual basis as stated herein below;

Interest Income from financial assets is recognised by applying the Effective Interest Rate (''EIR'') to the gross carrying amount of Financial assets, other than credit- Impaired assets and those classified as measured at Fair Value Through Profit of Loss (FVTPL) OR Fair Value through Other Comprehensive Income ( FVTOCI),

Any subsequent changes in the estimation of the future cash flows having impact on EIR are recognised in interest income with the corresponding adjustment to the carrying amount of the assets.

Other interest income is recognised on a time proportionate basis.

2.4 Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

2.4.1 Current tax

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities

Current tax is the amount of tax payable on the taxable income for the period as determined in accordance with the applicable tax rates and the provisions of the Income tax Act,1961.

2.4.2 Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the standalone financial statements and the corresponding tax base used in the computation of taxable profit,

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting period,

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity),

Deferred tax items are recognised in correlation to the underlying transaction either in OCI or equity: Deferred tax assets and liabilities are offset it such items relate to taxes an income levied by the same governing tax laws and the Company has a legally enforceable right for such set off.

2.5 Property plant and equipment A. Initial recognition

Property, plant and equipment are initially recognised at cost together with borrowing cost capitalized for qualifying assets. If any Cost comprises the purchase price and any directly attributable cost of bringing the asset to the location and its working condition for its intended use. Changes in the expected useful life are accounted for by changing the amortisation period or methodology, as appropriate, and treated as changes in accounting estimate

Subsequent to initial recognition property, plant and equipment are measured at cost less accumulated depreciation and accumulated Impairment, if any,

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is portable that the future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably, The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the Statement of Profit and Loss during the reporting period in which they are incurred.

Derecognition

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the next disposal proceeds and the carrying amount of the asset and is recognised in the Statement of Profit and Loss. The date of disposal of an item of property, plant and equipment is the date the recipient obtains control of that item in accordance with the requirements for determining when a performance obligation is satisfied in IND AS 115.

Depreciation

Depreciation commences when the assets are ready for their intended use. It is recognised to write down the cost of the property, plant and equipment to their residual value over their useful lives, using the written down value basis. The estimated use lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

The Company has adopted the useful life as specified in Schedule lll to the Act.

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Mar 31, 2023

2 Significant Accounting Policies :

2.1 Statement of compliance

The standalone financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), as per the Companies Act, (Indian Accounting Standards) Rule, 2015 as amended from time to time and notified under section 133 of the Companies Act, 2013 (the Act) along with the other provisions of the Act.

2.2 Basis of preparation and presentation

The financial statements of the Company have been prepared in accordance with IND AS notified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time. The financial statements have been prepared under the historical cost convention, as modified by the application of fair value measurements required or allowed by relevant IND AS at the end of each reporting period.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

Accounting policies have been consistently applied to all periods presented, unless otherwise stated. The preparation of financial statements require the use of certain significant accounting estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosed amount of contingent liabilities.

The management believes that the estimates used in preparation of financial statements are prudent and reasonable: Actual results could differ from those estimates and the differences between the actual results and the estimates would be recognised in the periods, in which the results are know/materialised.

The financial statements are presented in Lacs, Comparative information has been restated to accord with changes in presentations made in the current year, except where otherwise stated

The accounting police for some specific items are disclosed in the respective notes to the financial Statements. Other significant accounting policies and details of significant accounting assumptions and estimates are set out below in Notes.

The financial statements of the Company are presented as per Schedule lll (Division lll) to the Act applicable to Non- Banking Financial Companies (NBFCs), as notified by the MCA.

2.3 Revenue recognition

Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company, it can be reliably measured and it is reasonable to expect ultimate collection.

Revenue from Operations is recognised in the Statement of Profit and Loss on an accrual basis as stated herein below;

Interest Income from financial assets is recognised by applying the Effective Interest Rate (''EIR'') to the gross carrying amount of Financial assets, other than credit- Impaired assets and those classified as measured at Fair Value Through Profit of Loss (FVTPL) OR Fair Value through Other Comprehensive Income ( FVTOCI),

Any subsequent changes in the estimation of the future cash flows having impact on EIR are recognised in interest income with the corresponding adjustment to the carrying amount of the assets.

Other interest income is recognised on a time proportionate basis.

2.4 Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

2.4.1 Current tax

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities

Current tax is the amount of tax payable on the taxable income for the period as determined in accordance with the applicable tax rates and the provisions of the Income tax Act,1961.

2.4.2 Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the standalone financial statements and the corresponding tax base used in the computation of taxable profit,

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting period,

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity),

Deferred tax items are recognised in correlation to the underlying transaction either in OCI or equity: Deferred tax assets and liabilities are offset it such items relate to taxes an income levied by the same governing tax laws and the Company has a legally enforceable right for such set off.

2.5 Property plant and equipment A. Initial recognition

Property, plant and equipment are initially recognised at cost together with borrowing cost capitalized for qualifying assets. If any Cost comprises the purchase price and any directly attributable cost of bringing the asset to the location and its working condition for its intended use. Changes in the expected useful life are accounted for by changing the amortisation period or methodology, as appropriate, and treated as changes in accounting estimate

Subsequent to initial recognition property, plant and equipment are measured at cost less accumulated depreciation and accumulated Impairment, if any,

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is portable that the future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably, The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the Statement of Profit and Loss during the reporting period in which they are incurred.

Derecognition

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the next disposal proceeds and the carrying amount of the asset and is recognised in the Statement of Profit and Loss. The date of disposal of an item of property, plant and equipment is the date the recipient obtains control of that item in accordance with the requirements for determining when a performance obligation is satisfied in IND AS 115.

Depreciation

Depreciation commences when the assets are ready for their intended use. It is recognised to write down the cost of the property, plant and equipment to their residual value over their useful lives, using the written down value basis. The estimated use lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

The Company has adopted the useful life as specified in Schedule lll to the Act.

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Mar 31, 2015

3 Summary of signifitunt accounting policies 3.1 Basis for Accounting

These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values GAAP comprises mandatory accounting standards as prescribed under section 133 of the companies Act, 2013 (Act) read with Rule 7 of the Companies (Accounts) Rules. 2014, the provisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board of lndia (SEBI). Accounting policies have been consistently applied except where a newly issued accounting standard iv initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use

3.2 Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period Examples of such estimates include compulation of percentage of completion which requires the Company to estimate the efforts or costs expended to date as a proportion of the total efforts or costs to he expended, provisions for doublful debts, future obligations under employee retirement benefit plans, income taxes and the useful lives of fixed tangible assets and intangible assets. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes tn estimates are made as the Management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in Which changes are made and. if material, their effects are disclosed in the notes to the financial statements

3.3 Revenue Recognition

Revenue from operations includes Interest on loan provided, Interest on FDR. Sale of shares and other. Interest income is recognized on accrual basis.

3.4 Fixed assets

Fixed assets are stated at cost of acquisition, construction, amount added on revaluation less accumulated depreciation. Cost includes taxes, duties, freight end other incidental expense related to acquisition. improvements and installation of assets Subsequent expenditures related to an item of fixed asset are added to its hook value only if they increase the future benefits from, the existing asset beyond its previously assessed standard of performance.

3.5 Depreciation on fixed assets

Depreciation on fixed assets has been provided on written down value method as per the method Specified in schedule II to the Companies Act, 2013, and in the manner prescribed therein.

3.6 Provisions and contingencies

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources which can be reliably measured, Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in fi financial statements.

3.7 Investments

Investments that are readily realizable and are intended to be held for not more than one year from the date on which such investments are made arc classified us current investments, All other investments are classified as long term investments Current investment arc carried at cost or fair value, whichever is lower. Long-term investments are carried at cost. However, diminution in the value of the long term in vestments, other than temporary, is duly accounted for in the statements of profit and loss.

3.8 Earning per share

Profit as per Statement for profit and loss Account 264352

Number of equity Shares outstanding at the end of the year 5550000

Earning per share (basic) 0.048

Earning per share (diluted) 0.048

3.9 Deferred tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of The Income Tax Act, 1961. Deferred tax resulting from "Timing Difference" between book and taxable profits is accounted for using, the tax rates and laws that have been enacted Of substantively enacted as on the Balance Sheets date The deferred tax assets are recognized and. carry forward only to the extent that there is reasonable certainty that the assets Will be realized in future.

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Mar 31, 2014

The financial statements are prepared under the historical cost convention on an accrual basis of accounting m accordance with the generally accepted accounting principles. Accounting Standards notified under Section 21 l(3C) ol the Compames Act. 1956 and the relevant provisions thereof

3.2 Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the end of the reporting period Although these estimates are based on the mangement's best knowledge of current events and actions, uncertainty about these assumptions and estimate could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods

3.3 Revenue Recognition

Revenue from operations incudes Interst on loan provided . Interest on FDR . Sale of shares and other Interest income is recognised on accrual basis.

3 4 Fixed assets

Fixed assets are stated at cost of acquisition,construction, amount added on revaluation less accumulated depreciation Cost includes taxes, duties. freight and other incidental expenses related to acquisition, improvements and installation of assets Subsequent expenditures related to an item of fixed asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance

3 5 Depreciation on fixed assets

Depreciation on fixed assets has been provided on written down value method at the rates specified in the schedule XIV to the Companies Act. 1956. and in the manner prescribed therein

3.6 Provisions and contingencies

Provisions involving substantial degree of estimation in measurement arc recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources which can be reliably measured. Contingent Liabilities are not recognized but are disclosed in the notes Contingent Assets are neither recognized nor disclosed in the financial statements.

3.7 Investments

Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments arc made are classified as current investments All other investments are classified as long term investments Current investments are carried at cost or fair value, whichever is lower Long-term investments are carried at cost However, diminution in the value of the long term investments, other than temporary, is duly accounted for in the statement of profit and loss

3.8 Earning per share

Profit as per statement for profit and loss Account 102773

Number of equity shares outstanding at the end of the year 5550000

Earning per share (basic) 0019

Earning per share (diluted) 0.019

3.9 Deferred tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of 1 he Income lax Act. 1961 Deferred tax resulting from "Timing Difference'' between book and taxable profits is accounted for using the tax rates and laws that have been enacted or substantively enacted as on the Balance Sheets date The deferred lax assets are recognized and carry forward only to the extent that there is reasonable certainty that the assets will be realized in future

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Mar 31, 2013

3.1 Basis for Accounting

The financial statements are prepared under the historical cost convention on an accrual basis of accounting m accordance with the generally accepted accounting principles. Accounting Standards notified under Section 21 l(3C) ol the Compames Act. 1956 and the relevant provisions thereof

3.2 Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the end of the reporting period Although these estimates are based on the mangement's best knowledge of current events and actions, uncertainty about these assumptions and estimate could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods

3.3 Revenue Recognition

Revenue from operations incudes Interst on loan provided . Interest on FDR . Sale of shares and other Interest income is recognised on accrual basis.

3 4 Fixed assets

Fixed assets are stated at cost of acquisition,construction, amount added on revaluation less accumulated depreciation Cost includes taxes, duties. freight and other incidental expenses related to acquisition, improvements and installation of assets Subsequent expenditures related to an item of fixed asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance

3 5 Depreciation on fixed assets

Depreciation on fixed assets has been provided on written down value method at the rates specified in the schedule XIV to the Companies Act. 1956. and in the manner prescribed therein

3.6 Provisions and contingencies

Provisions involving substantial degree of estimation in measurement arc recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources which can be reliably measured. Contingent Liabilities are not recognized but are disclosed in the notes Contingent Assets are neither recognized nor disclosed in the financial statements.

3.7 Investments

Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments arc made are classified as current investments All other investments are classified as long term investments Current investments are carried at cost or fair value, whichever is lower Long-term investments are carried at cost However, diminution in the value of the long term investments, other than temporary, is duly accounted for in the statement of profit and loss

3.8 Earning per share

Profit as per statement for profit and loss Account 514629

Number of equity shares outstanding at the end of the year 5550000

Earning per share (basic) 0.093

Earning per share (diluted) 0.093

3.9 Deferred tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of 1 he Income lax Act. 1961 Deferred tax resulting from "Timing Difference'' between book and taxable profits is accounted for using the tax rates and laws that have been enacted or substantively enacted as on the Balance Sheets date The deferred lax assets are recognized and carry forward only to the extent that there is reasonable certainty that the assets will be realized in future

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Mar 31, 2012

3.1 Basis for Accounting

The financial statements are prepared under the historical cost convention on an accrual basis of accounting m accordance with the generally accepted accounting principles. Accounting Standards notified under Section 21 l(3C) ol the Compames Act. 1956 and the relevant provisions thereof

3.2 Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the end of the reporting period Although these estimates are based on the mangement's best knowledge of current events and actions, uncertainty about these assumptions and estimate could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods

3.3 Revenue Recognition

Revenue from operations incudes Interst on loan provided . Interest on FDR . Sale of shares and other Interest income is recognised on accrual basis.

3 4 Fixed assets

Fixed assets are stated at cost of acquisition,construction, amount added on revaluation less accumulated depreciation Cost includes taxes, duties. freight and other incidental expenses related to acquisition, improvements and installation of assets Subsequent expenditures related to an item of fixed asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance

3 5 Depreciation on fixed assets

Depreciation on fixed assets has been provided on written down value method at the rates specified in the schedule XIV to the Companies Act. 1956. and in the manner prescribed therein

3.6 Provisions and contingencies

Provisions involving substantial degree of estimation in measurement arc recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources which can be reliably measured. Contingent Liabilities are not recognized but are disclosed in the notes Contingent Assets are neither recognized nor disclosed in the financial statements.

3.7 Investments

Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments arc made are classified as current investments All other investments are classified as long term investments Current investments are carried at cost or fair value, whichever is lower Long-term investments are carried at cost However, diminution in the value of the long term investments, other than temporary, is duly accounted for in the statement of profit and loss

3.8 Earning per share

Profit as per statement for profit and 614386 596689 loss Account

Number of equity shares outstanding at 5550000 5550000 the end of the year

Earning per share (basic) 0.111 0.108

Earning per share (diluted) 0.111 0.108

3.9 Deferred tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of 1 he Income lax Act. 1961 Deferred tax resulting from "Timing Difference'' between book and taxable profits is accounted for using the tax rates and laws that have been enacted or substantively enacted as on the Balance Sheets date The deferred lax assets are recognized and carry forward only to the extent that there is reasonable certainty that the assets will be realized in future