Notes to Accounts of Shoora Designs Ltd.

Mar 31, 2025

Note - 26 - Additional regulatory information

A) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the Company.

B) The Company does not have any investment property.

C) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible assets.

D) There are no loans or advances in the nature of loans are granted to Promoters, Directors, KMPs and their related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are outstanding as on 31 March, 2025:

(i) repayable on demand; or

(ii) without specifying any terms or period of repayment

E) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder

F) The company is not declared willful defaulter by any bank or financial institution or other lender.

G) The company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

H) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

I) The company has not advanced or loan or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

J) The company has 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

K) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961. There are no such previously unrecorded income or related assets.

L) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

M) The Provision of Section 135 of the Companies Act 2013 in relation to Corporate Social Responsibility are not applicable to the Company during the period and hence reporting under this clause is not applicable.

Note - 27 - Contingent liabilities	(Amount in Lakhs)
Particulars	As at 31st March,2025	As at 31st March, 2024
Claims against the Company not acknowledged as debt
Custom Duty saved on import of Capital Goods under EPCG Scheme	-	-
Direct Tax	-	-
Indirect Tax/ Other Tax Liability	-	-
Amount of Capital Commitments	-	-
Total	-	-

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Mar 31, 2024

n. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

(i) Provisions

A provisions is recognized when the Company has a present obligation as a result of past event,
if 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 obligation.

(ii) Contingent Liability

Contingent Liabilities are disclosed when there is a possible obligation arising from past events,
the existence of which will be confirmed only on the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources
will be required to settle or a reliable estimate of the amount cannot be made.

(iii) Contingent Assets

Contingent Assets are neither recognised nor disclosed in the financial statements.

o. SEGMENT REPORTING

In accordance with the Accounting Standard 17 "segment reporting" as precribed under
Companies (Accounting Standard) Rules, 2006 (as amended), as the company is covered under
categories of SMC companies, the said accounting standard is not applicable to it.

p. CASH & CASH EQUIVALENTS

Cash & cash equivalents comprise cash and cash on deposit with banks and corporations. The
company considers all highly liquid investments with a remaining maturity at the date of
purchase of three months or less and that are readily convertible to known amount of cash to be
cash equivalents.

q. LEASES

Leases where the Lessor effectively retains substantially all the risks and benefits of ownership
of the Leased Asset, are classified as ''Operating Leases". Lease rentals with respect to assets
taken on ''Operating Lease'' are charged to Statement of Profit and Loss on a straight line basis
over the lease term.

Leases which effectively transfer to the Company substantially all the risks and benefits
incidental to the ownership of the leased item are classified as ''Finance Lease''. Assets acquired
on Finance Lease which substantially transfer all the risks and rewards of ownership to the
Company are capitalized as assets by the Company at the lower of the fair value and the present
value of the minimum lease payment and a liability is created for an equivalent amount. Lease
rentals payable is apportioned between the liability and finance charge so as to obtain a constant
periodic rate of interest on the outstanding liability for each year.

r. Government Grants

Government grants / subsidies received towards specific fixed assets have been deducted from
the gross value of the concerned fixed assets and grant / subsidies received during the year
towards revenue expenses have been reduced from respective expenses.