Notes to Accounts of Crysdale Industries Ltd.

Mar 31, 2024

n) Provisions, Contingent liabilities and Contingent Assets

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.

A disclosure for Contingent Liability is made when there is a possible obligation that may,
but probably will not, require an outflow of resources. Contingent assets are neither
recognized nor disclosed in the financial statements.

3. Changes in Accounting Policies

Depreciation of Fixed Assets: The Schedule II of the Companies Act, 2013 is being
implemented from 1st April, 2014 and the Company has adopted “Written down value”
method of Depreciation on its Fixed Asset as provided in Part C of Schedule II.

(ii) Terms and Rights attached to equity shares:

- The company has only one class of shares referred to as equity shares having par value of Rs. 10 each. Each equity share holder
is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to
receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders.

Shareholding more than 5% of the Paid-up Capital:

As per shareholders register, there are no shareholders holding more than 5% of shares in the Company for the Financial
Year 2023-24 and 2022-23

The company has not allotted any fully paid up equity shares by way of bonus shares, or in pursuant to contract without
payment being received in cash nor has bought back equity shares during the five years immediately preceding the balance
sheet date.

b) The Company do not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

c) The Company do not have any transactions with companies struck off.

d) The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a
willful defaulter at any time during the financial year or after

e) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year,

f) 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,

g) 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,

h) The Company have no 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 provisions regarding CSR Expenses under Section 135 of the Companies Act, 2013 are not applicable to the
Company,

j) Compliance with regards to the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013
read with Companies (Restrictions on number of Layers) Rules, 2017 is not applicable to the Company.

10. CONTINGENT LIABILITY

Contingent Liabilities not provided for:

ii. There have been no transfers among Level 1, Level 2 and Level 3 during the period

Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2 - The fair value of financial instruments that are not traded in an active market is
determined using valuation techniques which maximise the use of observable market data
and rely as little as possible on entity-specific estimates. If all significant inputs required to
fair value an instrument are observable, the instrument is included in level 2.

Level 3 - If one or more of the significant inputs are not based on observable market data,
the instrument is included in level 3.

iii. Valuation technique used to determine fair value

Specific Valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of the remaining financial instruments is determined using discounted cash
flow analysis

iv. Valuation processes

The accouts and finance department of the company includes a team that performs the
valuations of financial assets and liabilities required for financial reporting purposes,
including level 3 fair values. This team reports direclty to the chief financial officer (CFO) and
the audit committte. Discussions of valuation processes and results are held between the
CFO, AC and the valuation team regulary in line with the company''s reporting requirements.

12. CAPITAL MANAGEMENT

For the purpose of the company''s capital management, capital includes issued equity capital,
convertible preference shares, share premium and all other equity reserves attributable to the
equity holders of the parent. The primary objective of the Company''s capital management is to
maximise the shareholder value.

The company manages its capital structure and makes adjustments in light of changes in
economic conditions and the requirements of the financial covenants. To maintain or adjust the
capital structure, the company may adjust the dividend payment to shareholders, return capital
to shareholders or issue new shares. The company monitors capital using a gearing ratio, which
is net debt divided by total capital plus net debt. The company''s policy is to keep the gearing ratio
between 20% to 40%. The company includes within debt, interest bearing loans and borrowings,
trade and other payables, less cash and cash equivalents, other balances with bank excluding
discontinued operations.

Pursuant to the amendments whereas disclosure of information enabling users of financial
statements to evaluate changes in liabilities arising from financing activities however
amendments do not define financing activities, instead they clarify that financing activities are
based on the existing definition of Ind AS 7, based on this we have reconciled financing activity
whereas amendments are first applied, entities are not required to present comparative
information for earlier periods.

17. Previous year''s figures

Previous year figures have also been regrouped, re-arranged and reclassified wherever necessary
to confirm to the current year’s classification.

As per our report of even date For and on behalf of the Board of Directors

For JMMK & Co. RELSON INDIA LIMITED

(Earlier known as JMK & Co.)

Chartered Accountants Sd/- Sd/-

Firm Registration No. 120459W Swati Sahukara Rajiv Gupta

Director Director

Sd/- DIN: 06801137 DIN: 01116868

Jitendra Doshi

Partner Sd/ - Sd/ -

Membership No.151274 Kavita Ashok Jain Meenal Baid Jain

Place: Mumbai Company Secretary Chief Financial

Date: 30/05/2024 M No. A63116 Officer

UDIN: 24151274BKEXJV5703

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Mar 31, 2014

1. The Suppliers invoices or other documents furnished by the company do not give any authenticate information about their status and in particular, whether a small scale undertaking (SSI units). Accordingly it is not possible to disclose any authentic information about SSI dues.

2. Additional information as required under para 3, 4-C and 4-D of part II of Schedule VI to the Companies Act 1956. (As certified by the Director and relied upon by the Auditor) to the extent applicable.

3. SHARE CAPITAL

Terms and rights attached to equity shares

The company has only one class of shares referred to as equity shares having par value of Rs. 10 each. Each equity share holder is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Shareholding more than 5%

As per shareholders register, there are no shareholders holding more than 5% of shares in the Company for the Financial Year 2013-14 and 2012-13.

The company has not allotted any fully paid up equity shares by way of bonus shares, or in pursuant to contract without payment being received in cash nor has bought back equity shares during the five years immediately preceding the balance sheet date.

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Mar 31, 2013

1. The Suppliers invoices or other documents furnished by the company do not give any authenticate information about their status and in particular, whether a small scale undertaking (SSI units). Accordingly it is not possible to disclose any authentic information about SSI dues.

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Mar 31, 2010

Current Year Previous Year

Rupees Rupees

1. Contingent liabilities not provided for Nil Nil

2. Estimated amount of contracts remaining to be executed on capital account Nil Nil



3. In the opinion of the directors :

a) The current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

b) The provision for all known liabilities are adequate and not in excess of the amount reasonably necessary.

4. Payment to Auditors :

Current Year Previous Year

Rupees Rupees

a) Audit Fees 33,090/- 33090/-

b) Taxation and other matters 0.00 0.00

33,090/- 33090/-



7. Previous year figures are regrouped or rearranged, wherever considered necessary.

8. The Suppliers invoices or other documents furnished by the company do not give any authenticate information about their status and in particular, whether a small scale undertaking (SSI units). Accordingly it is not possible to disclose any authentic information about SSI dues.

9. a) Quoted Investment

The management has given custody of all the shares certificates to depository authorities for completing the demating formalities and hence we are unable to conduct the physical verification of shares. Further some of the shares are in the name of directors and their relatives and yet not transferred in the name of the company.

b) Unquoted Investment

These share certificates are not available for verification, although allotment acknowledgement letter from respective companies were made available. The shares in respect of which market quotations are not available, disclosed under "Unquoted Investment".

12. Additional information as required under para 3,4-C and 4-D of part II of Schedule VI to the Companies Act 1956. (As certified by the Director and relied upon by the Auditor) to the extent applicable is as follows :

Current Year Previous Year

Rupees Rupees

a) Value of Import on CIF basis Nil Nil

b) Expenditure in foreign currency Nil Nil

c) As the company had done only software development activities during the year, the clause relating to raw material and spare parts consumption is not applicable.

Current Year Previous Year

Rupees Rupees

d) Earning in foreign exchange Nil Nil

e) As the company had done only software development activity during the year, the clause relating to information about licensed, installed capacity and production is not applicable.

f) As the company has done only software development activities during the year, the clause relating to information about quantitative details is not applicable.

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Mar 31, 2002

Current Year Previous Year Rupees Rupees

1. Contingent liabilities not provided for Nil Nil

2. Estimated amount of contracts remaining to be executed on capital Nil Nil account.

3. In the opinion of the directors :

a) The current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business.

b) The provision for all known liabilities are adequate and not in excess of the amount reasonably necessary.

4. As the amount of deferred tax liability on account of depreciation is not material, the company has not provided for deferred tax liability as referred by the accounting standard issued by Institute of Chartered Accountants of India.

5. Previous year figures are regrouped or rearranged, wherever considered necessary.

6. The Suppliers invoices or other documents furnished by the company do not give any authenticate information about their status and in particular, whether a small scale undertaking (SSI units). Accordingly it is not possible to disclose any authentic information about SSI dues.

7. Additional information required under para 3, 4-C and 4-D of part II of Schedule VI to the Companies Act 1956. (As certified by the Director and relied upon by the Auditors) is as follows :

Current Year Previous Year Rupees Rupees

a) Value of Import on CIF basis Nil Nil

b) Expenditure in foreign currency Nil Nil

c) As the company had done only trading activities during the year, raw materials and spare parts consumption clauses are not applicable.

Current Year Previous Year Rupees Rupees

d) Earning in foreign exchange Nil Nil

e) As the company had done only trading activities during the year, information about licensed, installed capacity and production are not applicable.

f) As the company has not maintained stock records, information about purchases and sales are not given.