Notes to Accounts of Nibe Ordnance and Maritime Ltd.

Mar 31, 2024

p Provisions, contingent liabilities and contingent assets

Company recognizes provision, when there is a present legal or constructive obligation as a result of past events,
where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the
amount of the obligation can be made. Where a provision is measured using the cash flows estimated to settle the
present obligation, its carrying amount is the present value of those cash flows.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to
occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company,
or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable
estimate of the obligation cannot be made.

Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are
provided for.

As per Ind AS 37, Contingent liabilities, if any, are not recognized but are disclosed and described in the notes to the
financial statements, including an estimate of their potential financial effect and uncertainties relating to the amount
or timing of any outflow, unless the possibility of settlement is remote.

Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
q Cash and cash equivalents

Cash and cash equivalents for the purpose of the cash flow statement comprise cash at bank and in hand and short¬
term investments with an original maturity of three months or less.

r. Related Party Disclosures

All disclosures as specified under Ind AS 24 are made in these financial Statements in respect of the company’s
transactions with related parties.

s. Financial Instruments: -

Financial assets and financial liabilities are recognized on the Company Balance Sheet when the Company becomes
a party to the contractual provisions of the instrument.

Financial Assets -

Company does not have any Trade receivables, Interest bearing borrowing & Trade Payables for the year.
Financial Assets - Investments

Investments consist of investments in equity shares (quoted) and are recognized at fair value through profit & loss.
Gains and losses arising from changes in fair value are recognized in profit or loss. Dividends, if any, on equity
instruments are recognized in profit or loss when the company’s right to receive payment is established, it is probable
that the economic benefits associated with the dividend will flow to the entity and the amount of the dividend can be
measured reliably.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is a current
legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize
the asset and settle the liability simultaneously.

EXPLANATION OF MATERIAL ADJUSTMENTS TO THE STANDALONE CASH FLOW STATEMENT FOR THE YEAR
ENDED MARCH 31, 2024

The transition from Indian GAAP to Ind AS has not had a material impact on the statement of cash flows.

NOTE 20 NOTES ON RATIOS

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

Other Fair Value Related Disclosures

Recurring / non-recurring classification of fair value

All fair value measurements for the period ended are recurring in nature and there are no Non-recurring fair value measurements
of assets or liabilities in these periods.

Level 3 inputs related disclosure

There are no recurring fair value measurements using significant unobservable inputs (Level 3) in the reporting periods and
hence there is no effect of the measurements on profit or loss or other comprehensive income for the period.

Transfers between Level 1 and Level 2

There have been no transfers between Level 1 and Level 2 of the fair value hierarchy for all assets and liabilities held at the
end of the reporting period that are measured at fair value on a recurring basis.

Change in Valuation techniques, if any

There has been no change in the valuation techniques in the reporting periods.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the Company’s receivables from customers and investment securities.
Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business.

The Company establishes an allowance for credit losses and impairment that represents its estimate of expected losses in
respect of trade and other receivables and investments.

The Company periodically assesses the financial reliability of customers / corporates taking into account the financial
condition, current economic trends, analysis of historical bad debts and ageing of accounts receivable and loans receivable.
These include customers / corporates, which have high credit-ratings assigned by international and domestic credit-rating
agencies. Individual risk limits are set accordingly. There has been no credit loss arise during the year.

24. Capital Management

The Company’s objectives when managing capital (defined as net debt plus equity) are to safeguard the Company’s
ability to continue as a going concern in order to provide returns to shareholders and benefits for other stakeholders,
while protecting and strengthening the balance sheet through the appropriate balance of debt and equity funding. The
Company manages its capital structure and makes adjustments to it, in light of changes to economic conditions and the
strategic objectives of the Company. To maintain or adjust the capital structure, the Company may adjust the dividend

payment to shareholders, buy back shares and cancel them, or issue new shares. The Company finances its operations
by a combination of retained profit, bank borrowings, disposals of property assets, etc. The Company borrows uses
borrowing facilities to meet the Company’s business requirements of each local business.

The Company monitors capital using gearing ratio, which is total debt divided by total capital plus debt.

25. Collaterals: -

The Company has obtained working capital loan form banks which are secured by:

• Fixed deposits - Value Rs. NIL

• Hypothecation of Stock in trade and Trade receivables - Value Rs. NIL

• Mortgage of premises - Value Rs. NIL
Defaults

For loans payable recognized at the end of the reporting period, there have been no defaults.

26. The figures of previous year have been regrouped / reclassified wherever necessary and possible so as to confirm with
the figures of the current year.

1. Current Ratio decreased by 37.19% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Current Liabilities as
compared to increase in current assets.

28. Notes on Ratios

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended
Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

29. Disclosure of Transactions with Struck Off Companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act,
2013 or Section 560 of Companies Act, 1956 during the financial year.

As per our report of even date attached
For Jay Gupta & Associates

(Erstwhile Gupta Agarwal & Associates) For and on behalf of the Board

Chartered Accountants Anshuni Commercials Limited

FRNo.329001E

Jay Shanker Gupta Rahul Jhunjhunwala Mahesh Panwar

Partner Director/CFO Managing Director

Membership No. 059535 DIN: 00527214 DIN: 06702073

Pooja

Company Secretary

Place: Kolkata Place: Mumbai

Dated: 29.05.2024 Dated: 29.05.2024

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Mar 31, 2014

1.Share Capital

(1.1) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares 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.

(1.2) Shares held by each shareholder holding more than 5% shares.

2. Notes on accounts for the year ended 31st March 2014

3.1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

3.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

3.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

3.4) The management is of opinion that due to sluggish capital market the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard -28 "Impairment of Assets".

3.5) Related party Disclosure

List of Related Parties and Relationships

a. Directors (Key Management Personnel)

Party Name Relationships

Nitin K Mehta Director

Bhavin N Mehta Director

Navin C Shah Director

Anshul N Mehta Director

b. Relatives of Directors (Key Management Personnel)

Party Name Relationships

Bharati N Mehta Relative of Director

Purvi B. Mehta Relative of Director

Madhu N Shah Relative of Director

c. Company/Firm in Which Directors/relative of directors are interested

Subir Diamonds Sister Concerns/Associates

India shopping mall.com Pvt. Ltd Sister Concerns/Associates

Tycartai Jewellery Pvt. Ltd Sister Concerns/Associates

GelidNet Promotion & Entertainment Pvt. Ltd. Sister Concerns/Associates

3.6) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

3.7) Figures of previous year have been re-grouped, re-arrange, wherever necessary to conform to the current year presentation.

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Mar 31, 2013

1.1) In the opinion of the directors & to the best of their knowledge and belief, the vahie on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet

1.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

1.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

1.4) The management is of opinion that due to sluggish capital matrices the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard-28 "Impairment of Assets*.

1.5) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

1.6) Figures of previous year have been re-grouped, re-arrange, wherever necessary to conform to the current year presentation. .

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Mar 31, 2012

1.1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

1.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

1.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

1.4) The management is of opinion that due to sluggish capital market the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard -28 "Impairment of Assets".

1.5) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

1.6) Figures of previous year have been re-grouped, re-arrange and reclassified wherever necessary to conform to the current year presentation.

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Mar 31, 2010

I. OTHER NOTES:

1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

4) Related party Disclosure

List of Related Parties and Relationships

a. Directors (Key Management Personnel)

Party Name Relationships

Nitin K Mehta Director

Bhavin N Mehta Director

Navin C Shah Director

Ansul N Mehta Director

b. Relatives of Directors CKev Management Personnel)

Party Name Relationships

Bharati N Mehta Relative of Director

Purvi B. Mehta Relative of Director

Madhu N Shah Relative of Director

c. Company / Firm in Which Directors/ relative of directors are interested

Subir Diamonds Sister Concerns/Associates

India shopping mall.com Pvt. Ltd Sister Concerns/Associates

Tycarti Jewellary Pvt. Ltd Sister Concerns/Associates

GelidNet Promotion & Entertainment Pvt. Ltd. Sister Concerns/Associates

5) Other provision of Part II of Schedule VI of Companies Act, 1956 are either Nil or not applicable.

6) Figures of previous year have been re-grouped, re-arrange and recast, wherever considered necessary.