Notes to Accounts of GEM Enviro Management Ltd.

Mar 31, 2025

(a) Provisions

A provision is recognized when the company has a present obligation as a result of past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present
value and are determined based on the best estimate required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

(b) Contingent Liabilities

A 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 recognized because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a
liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a
contingent liability but discloses its existence in the financial statements.

The Company is a waste management agency and provides variety of waste management services including
sale of recycled goods, EPR, ESG services etc. After taking into account the nature of product and services
and the differing risk and returns on such products and services it comes to conclusion that it is operating only
in one segment of waste management. Accordingly, Segment reporting is not applicable to the company
outlined in Accounting Standard 17.

r. The company does not have any Benami property, where any proceeding has been initiated or pending against
the company for holding any Benami property.

s. The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

t. There are no transaction with the companies whose name struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956 during the period covered under these financial statements.

u. The Company has not been declared willful defaulter by any bank or financial institution or government or any
government authority.

v. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any
other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity
(“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall
lend or invest in party identified by or on behalf of the Company ("Ultimate Beneficiaries").
Moreover, the Company has not received any fund from any party ("Funding Party") with the understanding that
the Company shall whether, directly or indirectly lend or invest in other persons or entity identified by or on
behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

w. The company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses.

x. The Company has not any 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).

y. There has been no changes in the accounting policies during the period covered under the financial
statements.

z. Previous Year’s figures have been regrouped/rearranged wherever necessary to conform to the figures for the
current year.

za.There has been no qualifications in the independent auditor''s report during the period covered under the
financial statements.

AS PER OUR REPORT OF EVEN DATE FOR AND ON BEHALF OF THE BOARD

FOR RAJIV MEHROTRA AND ASSOCIATES ^{0F DIRECTORS 0F}

„„. _____ . . „_1TO GEM ENVIRO MANAGEMENT LIMITED

CHARTERED ACCOUNTANTS

FIRM REG.NO.002253C

Sd/- Sd/- Sd/-

SHIVANIYADAV DINESH PAREEKH SACHIN SHARMA

(PARTNER) (DIRECTOR) (MANAGING DIRECTOR)

M.NO. 451408 (DIN: 00629464) (DIN: 05281526)

UDIN:25451408BMKZKD5306

KANPUR, ^Sd/“ ^Sd/“

12TH DAY OF MAY 2025 BHUBANESH PINANI TRIPTIGOYAL

(CHIEF FINANCIAL OFFICER) (COMPANY SECRETARY AND

(PAN- DIWPP4148D) COMPLIANCE OFFICER)

(M.N0.ACS73180)

NEW DELHI,
12^th DAY OF MAY 2025

---

Mar 31, 2024

l. Provisions Contingent Liabilities & Contingent Assets

(a) Provisions

A provision is recognized when the company has a present obligation as a result of past event, it is probable that an outflow of resource s embodying economic benefits will be required to settle the obligatio n and a reliable estimat e can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reportin g date. These estimates are reviewed at each reportin g date and adjusted to reflect the current best estimates.

(b) Contingent Liabilities

A contingent liability is a possible obligatio n 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 obligatio n that is not recognize d because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognize d because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements.

n. Segment Reporting

The Company has identified two reportable segments viz., sale of goods and EPR services after taking into account the nature of product and services and the differing risk and returns on such products and services. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment repor-ting:

(i) Revenue and expenses have been identified to a segment on the basis of relation to operatin g activities of the segment. Revenue and expenses that relates to enterprise as a whole and are not allocable to a segment on a reasonable basis have been disclosed as "Un-allocable".

(ii) Segment Assets and Segment Liabilities represent Assets and Liabilities in respectiv e segments. Assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Un-allocable".

s. The company does not have any Benami property, where any proceeding has been initiated or pending against the company for hol ding any Benami property.

t. The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period .

u. There are no transaction with the companies whose name struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 during t he period covered under these restated financial information.

v. The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

w. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds ) by the Company to or in any other person or entity, including foreign entity ("Intermediaries") with the understandin g, whether recorded in writing or otherwise, that the Intermediary shall lend or i nvest in party identified by or on behalf of the Company ("Ultimate Beneficiaries").

x. The company did not have any long term contract s including derivative contract s for which there were any material foreseeable losses.

y. The Company has not any 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).

z. The Company has not any 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 rlevant provisions of the Income Tax Act, 1961).

aa. There has been no changes in the accountin g policies during the period covered under the financial statements.

ab. There has been no qualifications in the independent auditor''s report during the period covered under the financial statements.

FOR RAJIV MEHROTRA & ASSOCIATES FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF

CHARTERED ACCOUNTANTS GEM ENVIRO MANAGEMENT LIMITED

FIRM REGN. NO. 002253C

DINESH PAREEKH SACHIN SHARMA

SHIVANI YADAV (DIRECTOR) (MANAGING DIRECTOR)

(PARTNER) (DIN:00629464) (DIN:05281526)

MEMBERSHIP NO. 451408

AMAR JEET VIJAY KUMAR SHARMA

KANPUR, 10TH DAY OF AUGUST 2024 (CHIEF FINANCIAL OFFICER) (COMPANY SECRETARY)

(PAN: BHZPA7635Q) (PAN: AUAPS1166P)

NEW DELHI,10TH DAY OF AUGUST 2024