Notes to Accounts of Madhuveer Com 18 Network Ltd.

Mar 31, 2025

2.5 Provisions, contingent liabilities and contingent assets
Contingent liability :

A possible obligation that arises from past events and the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company are disclosed as contingent liability and not provided for. Such liability is not disclosed if the possibility
of outflow of resources is remote.

Contingent assets :

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company. Contingent assets are not recognised and disclosed only when an inflow of economic benefits is
probable.

Provisions :

A provision is recognized when as a result of a past event, the Company has a present obligation whether legal
or constructive that can be estimated reliably and it is probable that an outflow of economic benefits will be
required to settle the obligation. If the obligation is expected to be settled more than 12 months after the end of
reporting date or has no definite settlement date, the provision is recorded as non-current liabilities after giving
effect for time value of money, if material. Where discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

2.6 Revenue Recognition

Revenue is recognized based on nature of activity when consideration can be reasonably measured and there
exists reasonable certainty of its ultimate collection.

b) Interest Income is recognised on time proportion basis.

2.7 Income taxes

Income tax expense comprises current and deferred tax expense. Income tax expenses are recognized in
statement of profit and loss, except when they relate to items recognized in other comprehensive income or
directly in equity, in which case, income tax expenses are also recognized in other comprehensive income or
directly in equity respectively.

Current tax is the tax payable on the taxable profit for the year, using tax rates enacted or substantively enacted
by the end of reporting period by the governing taxation laws, and any adjustment to tax payable in respect of
previous periods. Current income tax assets and liabilities are measured at the amount expected to be
recovered from or paid to the taxation authorities. Management periodically evaluates positions taken in the tax
returns with respect to situations in which applicable tax regulations are subject to interpretation and
establishes provisions where appropriate.

Deferred taxes arising from deductible and taxable temporary differences between the tax base of assets and
liabilities and their carrying amount in the financial statements are recognized using substantively enacted tax
rates and laws expected to apply to taxable income in the years in which the temporary differences are
expected to be received or settled.

Deferred tax asset are recognized only to the extent that it is probable that future taxable profit will be available
against which the deductible temporary differences can be utilized. The carrying amount of deferred tax assets
is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the deferred income tax assets to be utilized.

2.8 Earnings Per Share

a) Basic earnings per share are calculated by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.

b) For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the
effects of all dilutive potential equity shares, if any.

2.9 Borrowing cost

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which
are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added
to the cost of these assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in statement of profit and loss in the period in which they are incurred.

2.10 Segment Reporting

The Company has only one preliminary reportable segment i.e. commission income hence there is no separate
reportable segments as required in Ind AS 108 issued by ICAI.

2.11 Depreciation

Depreciation on tangible fixed assets is provided using the Straight Line Method based on the useful life of the
assets as estimated by the management and is charged to the Statement of Profit and Loss as per the
requirement of Schedule II of the Companies Act, 2013. In case of additions or deletions during the year,
depreciation is computed from the month in which such assets are put to use and up to previous month of sale
or disposal, as the case may be.

2.12 Recent accounting pronouncements

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On 12 August 2024, MCA amended
the Companies (Indian Accounting Standards) Amendment Rules, as below.

Amendments to Ind AS 117

MCA notified Ind AS 117 a comprehensive standard that prescribe, recognition,measurement and disclosure
requirements, to avoid diversities In practice for accounting Insurance contracts and It applies to all companies
i.e.. to all insurance contracts regardless of the issuer. However Ind AS 117 is not applicable to the entities
whose are insurance companies registered with IRDAI.

Additionally,amendments have been made to Ind AS 101 First time Adoption of Indian Accounting Standards Ind
AS 103 Business Combinations.

AS 105 Non-current Assets Held for Sale and Discontinued Operations, Ind AS 107 Financial Instruments:
Disclosures ,Ind AS 109 Financial Instruments and Ind AS 115 Revenue from Contracts with Customers to align
them with Ind AS 117 The amendments also Introduce enhanced disclosure requirements,particularly In Ind AS
107, to provide clarity regarding financial Instruments associated with Insurance contracts.

Amendments to Ind AS 116

The amendments require an entity to recognise lease liability including variable lease payments which are not
linked to index or a rate In a way It does not result Into gain on Right or use asset It retains.

The Company has reviewed the new pronouncements and based on its evaluation has determined that these
amendments do not have a significant impact on the Company''s Financial Statements.

Notes to Accounts

Note-1 :-

The current ratio is decreased in current year mainly due to increase in trade payables and other current liabilities.

Note-2 :-

The increase in ratio is primarily due to improvemet in net profit of the company.

Note-3 :-

The net capital turnover ratio increased primarily due to increase in sales during the current year.

Note-4 :-

The net profit ratio increased in current year mainly due to increase in revenue from operations.

Note-5 :-

The net profit ratio increased in current year mainly due to increase in net profit of the company.

25 Contingent liabilities

Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events
but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation
or the amount of the obligation cannot be measured with sufficient reliability.

The claims against the Company primarily represent demands arising on completion of assessment proceedings under the Income Tax Act, 1961.
These claims are on account of multiple issues of disallowances such as disallowance includes Unexplained cash credit, Expenditure for Business
Purpose, increase in share capital, Interest u/s 234A/B/Penalty u/s 271(1)(c). These matters are pending before various Income Tax Authorities.
Company has filed Appeal to the Commissioner of Income-tax (Appeals) and Disagree with demand(Either in Full or Part).

26 Segment information

As per Ind AS108 ''operating segments'', specified under section 133 of the Companies Act,2013, the Company is predominantly engaged in single
reportable segment of event management. Accordingly, there is no separate reportable segment.

27 Balances of Trade Payables, Unsecured Loans, Trade Receivables, In-operative bank accounts, Other Current and Other Non Current Assets and
Provisions are subject to the confirmation of the parties concerned. Wherever confirmation of the parties for the amounts due to them / amounts
due from them as per books of accounts are not received, necessary adjustments, if any, will be made when the accounts are reconciled / settled.

28 Previous year''s figures have been regrouped or reclassified wherever required.

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

For, MAAK and Associates of Madhuveer Com 18 Network Ltd.

Chartered Accountants
Firm Reg. No: 135024W

Sd/- Sd/-

Dhruvin Shah Sagar Shah

Managing Director Additional Director

DIN:08801616 DIN:03082957

Sd/- Sd/- Sd/-

Marmik Shah Punitkumar J Bhavsar Shruti Sharma

Partner Chief Financial Officer Company Secretary

Membership No. 133926 DIN: 08987296 PAN: FLPPS1085G

Place :- Ahmedabad Place :- Ahmedabad Place :- Ahmedabad

Date :- 30/05/2025 Date :- 30/05/2025 Date :- 30/05/2025

UDIN :- 25133926BMJGYX9118

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Mar 31, 2024

8.3 Terms and Rights attached to equity Shares

The Company has only one class of equity shares having a par value of Rs 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividend proposed by the Board of Directors is subject to approval of the Shareholding in the ensuing Annual

General Meeting.

23 Amount due to Micro, Small and Medium Enterprises

There are no Micro and Small Scale Business Enterprises to whom the Company owes dues, which are outstanding for more than 45 days as at March 31st, 2024. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

Note-1 :-

The decrease in ratio is primarily due to increase in current assets.

Note-2 :-

The increase in ratio is primarily due to higher net profit on account of higher operating income.

Note-3 :-

The decrease in ration is mainly due to increase in current assets.

Note-4 :-

The increase in net profit ratio is primarily due to increase in net profit on account of higher operating income.

Note-5 :-

The increase in return on capital employed is primarily due to increase in earnings before interest and tax in current year as compared to previous year.

25 Contingent liabilities

Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability.

The claims against the Company primarily represent demands arising on completion of assessment proceedings under the Income Tax Act, 1961. These claims are on account of multiple issues of disallowances such as disallowance includes Unexplained cash credit, Expenditure for Business Purpose, increase in share capital, Interest u/s 234A/B/Penalty u/s 271(1)(c). These matters are pending before various Income Tax Authorities. Company has filed Appeal to the Commissioner of Income-tax (Appeals) and Disagree with demand(Either in Full or Part).

26 Segment information

As per Ind AS108 ''operating segments'', specified under section 133 of the Companies Act,2013, the Company is predominantly engaged in single reportable segment of event management. Accordingly, there is no separate reportable segment.

27 Balances of Trade Payables, Unsecured Loans, Trade Receivables, In-operative bank accounts, Other Current and Other Non Current Assets and Provisions are subject to the confirmation of the parties concerned. Wherever confirmation of the parties for the amounts due to them / amounts due from them as per books of accounts are not received, necessary adjustments, if any, will be made when the accounts are reconciled / settled.

28 Previous year''s figures have been regrouped or reclassified wherever required.

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Mar 31, 2015

As at 31st As at 31st March,2015 March,2014 Amount (Rs.) Amount(Rs.)

1. Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0

(Pending before Sales tax Tribulnal for the Financial year 1993- 1994)

Income tax Demand 0 0

(Pending before Income tax Tribunal for the Financial year 2007- 2008)

Total 0 0

2. OTHER NOTES ON ACCOUNTS:

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit works Rs.25000/- is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6. The Company has not disposed off any Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors, That Companies in which they are Directors had not defaulted in terms of section 164 (2) of the Companies Act, 2013, and that representation of Directors taken in Board that Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/ -per month or more are nil. (Previous Year Nil)

12. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2014

Note As at 31st As at 31st No March, 2014 March, 2013 Amount (Rs. ) Amount (Rs. )

1. Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0 (Pending before Sales tax Tribulnal for the Financial year 1993-1994)

Income tax Demand 0 0 (Pending before Income tax Tribunal for the Financial year 2007-2008) 0

Total 0 0

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Mar 31, 2012

Note As at 31st As at 31st NO March, 2012 March, 2011 Amount (Rs) Amount (Rs)

1 Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0

(Pending before Sales tax Tribulnal for the Financial year 1993-1994)

Income tax Demand 0 0

(Pending before Income tax Tribunal for the

Financial year 2007-2008) 0

Total 0 0

(2) Contingent Liabilities:

Claims against the Company not acknowledged as debts for income tax for as at 31st March, 2012 is NIL.

(3) Retirement benefits, gratuity, leave encashment, etc. has not been provided in the accounts by the Company. They have been dealt with on cash basis. This is not in accordance with Accounting Standard 15 for Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India.

(4) In view of the accumulated losses, unabsorbed depreciation and current losses, the Company has not recognized deferred tax assets (net) in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India by way of prudence.

(5) Due to continuing losses, the net worth of the Company has been eroded by more than fifty percent thereof; However, it is informed that the Company has been in dialogue with the Bankers and shall propose the restructuring of existing outstanding loans for adequate net worth and working capital funds to be made available in future for continuing the operation. Accordingly, the accounts for the year have been prepared on a going concern basis.

(6) Balance of creditors, other liabilities, debtors, loans and balances with banks, in current accounts and deposits are subject to confirmation and reconciliation as in the case of banks most of the accounts are showing negative bank balance. In respect of the old debtors, the Auditor has relied on the judgment of the management of the company as to the recoverable in absence of direct confirmation.

(7) The Company has Capital Work in progress for building for Rs. Nil In respect of which no provision of impairment is required to be made in the opinion of the management of the Company.

(8) As informed by the management, the Company has not maintained cost records under section 209(1)(d) of the Companies Act, 1956 and rules made there under by the Central Government in this regard.

(9) The details as to the names of the Small Scale Industrial undertakings to whom the Company owes a sum, and which is outstanding for more than 30 days as on 31st March 2012 have not been given in view of information in this regard not made available to us.

(10) The names of related parties with relationship and transactions with them are disclosed as under: Nil

Salary and perquisites to Mr. Atul B. Pandit Rs. Nil Salary and perquisites to Mr. Yogendra Machhar Rs. Nil

(11) In the opinion of the management of the Company, the Company has only one segment viz. pharmaceutical and drugs, hence no separate discloser of segment wise information has been made.