Notes to Accounts of Evoq Remedies Ltd.

Mar 31, 2024

3. SEGMENT REPORTING:

The Company is primarily dealing in Pharmaceutical Business i.e. trading of pharma products and commission agent in pharma products etc. which in the context of Accounting Standard 17 on "Segment Reporting” constitutes a single reporting segment. Further, there are no geographical segments.

4. EMPLOYEE BENEFIT EXPENCES:

Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are administered by Central Government of India and contribution to the said funds are charges to Profit and Loss Account or accrual basis if any.

Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates in accordance with the policies of the company if any.

The Provision of Gratuity is Rs. Nil.

5. Any material gains/ losses which arise from the events or transaction which are Events Occurring after the Balance Sheet Date of the company are separately disclosed if any.

6. The Company has provided for VAT payable liabilities of Rs. Nil (P. Y. Nil), being the balance outstanding at the end of the year.

8. Related party disclosure as required by AS-18 issued by The ICAI-New Delhi

The Company has transaction of a material nature with the promoters, Directors of management, their subsidiaries or relatives that may have potential conflict with the interest of the company at large. The register of contracts containing the transactions in which Directors are interested were placed before the board regularly for it approval.

The Company confirms that all transaction including purchase and sales done with related party is at Arm’s Length Price and in normal course of business with all entities. The Company confirms that none of the transactions, if any, with the related parties was in material conflict with the interest of the Company.

11. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering the prudence aspect.

12. Liabilities for unexecuted contracts on capital account are NIL (P.y. Nil) as on 31.03.2024.

13. Details of dues to Micro and Small Enterprises as defined under the Micro,

Small and Medium Enterprises Development Act, 2006

The management has informed that the Company has not received any memorandum (as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise Development Act, 2006) claiming their status during the year as micro, small, or medium enterprises. Consequently, there are no amounts paid/ payable to such parties during the year

14. Particulars of licensed capacity or production capacity is Nil/- of the company.

15. The company is engaged primarily in Pharmaceutical Business i.e., trading of pharma products and commission agent in pharma products etc. As per AS-108 Operating Segment, none of the segment/products exceeds specified limits for the purpose of reporting as per AS-108 is not applicable.

16. Audit committee minutes were not produced before us.

17. The turnover/ITC credit with GST website is subject to verification of reconciliation.

20. Previous years’ figures have been regrouped or rearranged as required. There are transactions of unsecured loans in creditors account and loans/advances in debtors ledger accounts. The nature and purpose of payments and receipts are not identifiable in absence of data and information and hence closing net balances are shown/reflected as creditors and debtors. Also the creditors and debtors ledgers are adjusted by passing Journal enteries for which purpose, proof, confirmation and evidence are not available for verification and justification.

21. Balances of Sundry Debtors, Sundry Creditors, Deposits, Loans and Advances are subject to confirmation, reconciliation and necessary adjustments.

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Mar 31, 2023

K. PROVISIONS, CONTINGENT LIABILITIES AND ASSETS:

Provisions are recognized when the Company has a present obligation as a result of past events
and it is more likely that an outflow of resources will be required to settle the obligation and the
amount has been reliably estimated. Provisions are not discounted to present value and are
determined based on best estimate of the expenditure 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 estimate.

Contingent Liabilities are not disclosed by way of notes to the financial statements. Contingent
assets are neither recognized nor disclosed in the financial statements. As stated by Management,
there were following Contingent Liabilities.

• There was no any provision in books of accounts for identified income tax demand
Rs.86.72 lacs as per income tax website.

L. EARNING PER SHARE (EPS):

Basic earnings per share are computed by dividing the profit/(loss) after tax by the total number
of equity shares outstanding during the year. Diluted earnings per share is computed by dividing
the profit/(loss) after tax by the total number of equity shares considered for deriving basic
earnings per share.

2. RELATED PARTY DISCLOSURES:

The Company has transaction of a material nature with the promoters, Directors of management,
their subsidiaries or relatives that may have potential conflict with the interest of the company at
large. The register of contacts containing the transactions in which Directors are interested in place
before the board regularly for it approval.

4. SEGMENT REPORTING:

The Company is primarily dealing in Pharmaceutical Business i.e. trading of pharma products
and commission agent in pharma products etc. which in the context of Accounting Standard 17
on “Segment Reporting” constitutes a single reporting segment. Further, there are no geographical
segments.

5. EMPLOYEE BENEFIT EXPENCES:

Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are
administered by Central Government of India and contribution to the said funds are charges to
Profit and Loss Account or accrual basis if any.

Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates
in accordance with the policies of the company if any.

The Provision of Gratuity is Rs. Nil.

6. Any material gains/ losses which arise from the events or transaction which are Events Occurring
after the Balance Sheet Date of the company are separately disclosed if any.

7. Auditor’s remuneration:

During the year under consideration provision has made for Auditor’s remuneration.

. (In Rupees)

31 March 2023 31 March 2022

Statutory Audit Fees 29,500 29,500

8. Director’s remuneration:

During the year under consideration provision has made for Director’s remuneration.

For which no resolution is passed in the AGM for same or has not obtained any information.

(In Rupees)

31 March 2023 31 March 2022

Remuneration 0.00 0.00

9. As certified by company that it has received written representation from all the directors. That
companies are which they are directors had not defaulted in terms of section 164(2) of the

Companies Act, 2013, and that representations of directors takes in Board that Director is
disqualified from being appointed as director of the company.

10. The management has informed that the Company has not received any memorandum (as required
to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise
Development Act, 2006) claiming their status during the year as micro, small, or medium
enterprises. Consequently, there are no amounts paid/ payable to such parties during the year.

11. Expenditure in foreign currency is Rs. NIL/- in respect of Foreign Travelling.

12. Export Sales in foreign currency is NIL/- (In Indian Rupees). However, Other Income in foreign
currency is Rs. Nil.

13. There is No Any Amalgamation or Acquisition with Other Company / Firm / Entity by the
company during the financial year.

14. The company has Not received any type of Government Grants or Subsidies.

15. No segment or part of company is discontinued or sold during the year.

16. The company has Not entered into any Joint Venture.

17. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the
current year’s classifications/disclosure.

18. Particulars of licensed capacity or production capacity is Nil/- of the company.

19. The company is engaged primarily in Pharmaceutical Business i.e., trading of pharma
products and commission agent in pharma products etc. As per AS-108 Operating Segment,
none of the segment/products exceeds specified limits for the purpose of reporting as per AS-108 is
not applicable.

20. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering
the prudence aspect.

21. Audit committee minutes not produced before us.

22. The turnover with GST is subject to verification of reconciliation.

23. All of the Debit, Credit, Balances including, Loans & advances lying in various party’s Customer’s
accounts are subject to their balance confirmation.

For, EVOQ REMEDIES LIMITED For, J.M. Patel & Bros.

Chartered Accountants
F.R.No.107707W

DAHYABHAI PATEL PAYAL PATEL (CAJ.M. Patel)

Managing Director Director & CFO M.COM., F.C.A.

DIN :07061899 DIN :05300011 M. No. 030161

UDIN: 23030161BGRRQT7590

Place: Ahmedabad

Date :25/05/2023