Accounting Policies of Tradewell Holdings Ltd. Company

Mar 31, 2025

Note-1: Corporate and General Information

Tradewell Holdings Limited (Formerly- Brand Realty Services Limited) ("the Company") is incorporated in India having its registered office at S-8 & 2, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091. Its shares are listed on Bombay Stock Exchange. The company is primarily engaged in the business of Shares Trading and secondary engaged in the Real Estate services.

Note - 2. Significant accounting policies

A summary of the material accounting policy information applied in the preparation of the financial statements are as given below. These accounting policies have been applied consistently to all periods presented in the financial statements.

2.1 Basis of preparation of financial statements

a) Compliance with Ind AS

The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time and other accounting principles generally accepted in India.

These financial statements have been prepared under the historical cost convention with the exception of certain assets and liabilities that are required to be carried at fair values by Ind AS.

The financial statements are presented in INR except when otherwise stated. All amounts have been rounded-off to the nearest lakhs, unless otherwise indicated.

b) Significant accounting judgements, accounting estimates and assumptions

The preparation of financial statements requires management to make certain judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities (including contingent liabilities) and the accompanying disclosures. Estimates and underlying assumptions are reviewed on an ongoing basis.

Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial years, are described below. Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising that are beyond the control of the Company.

Such changes are reflected in the assumptions when they occur.

Material estimates and assumptions are required in particular for:

i) Useful life of property, plant and equipment and intangible assets:

This involves determination of the estimated useful life of property, plant and equipment and intangible assets and the assessment as to which components of the cost may be capitalised. Useful life of these assets is based on the life prescribed in Schedule II to the Companies Act, 2013 or based on technical estimates, taking into account the nature of the asset, estimated usage, expected residual values, anticipated technological changes, maintenance support and operating conditions of the asset. Management reviews its estimate of the useful lives of depreciable/ amortisable assets at each reporting date, based on the expected utility of the assets.

ii) Impairment of Non Financial Asset :

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a discounted future cashflows model.

The recoverable amount is sensitive to the discount rate used for the discounted future cashflows model as well as the expected future cash-inflows and the growth rate used.

iii) Taxes:

The Company’s tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions. Significant management judgement is also required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies, including estimates of temporary differences reversing on account of available benefits from the Income Tax Act, 1961.

iv) Fair value measurement of financial instruments:

In estimating the fair value of financial assets and financial liabilities, the Company uses market observable data to the extent available. Where such Level 1 inputs are not available, the Company establishes appropriate valuation techniques and inputs to the model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing fair values. Judgments include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

v) Defined benefit plans (Gratuity Benefits):

The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, attrition rate and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

vi) Determination of lease term & discount rate :

Ind AS 116 Leases requires lessee to determine the lease term as the non-cancellable period of a lease adjusted with any option to extend or terminate the lease, if the use of such option is reasonably certain. The Company makes assessment on the expected lease term on lease by lease basis and thereby assesses whether it is reasonably certain that any options to extend or terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any significant leasehold improvements undertaken over the lease term, costs relating to the termination of lease and the importance of the underlying to the Company’s operations taking into account the location of the underlying asset and the availability of the suitable alternatives. The lease term in future periods is reassessed to ensure that the lease term reflects the current economic circumstances. The discount rate is generally based on the incremental borrowing rate specific to the lease being evaluated or for a portfolio of leases with similar characteristics.

vii) Asset Retirement Obligation:

The liability for asset retirement obligations are recognised when the Company has an obligation to perform site restoration activity. The recognition and measurement of asset retirement obligations involves the use of estimates and assumptions, viz. the timing of abandonment of site facilities which would depend upon the ultimate life of the project, expected utilisation of assets in other projects, the scope of abandonment activity and pre-tax rate applied for discounting.

viii) Recognition and measurement of Contingent liabilities, provisions and uncertain tax positions:

There are various legal, direct and indirect tax matters and other obligations including local and state levies, availing input tax credits etc., which may impact the Company. Evaluation of uncertain liabilities and contingent liabilities arising out of above matters and recognition and measurement of other provisions are based on the assessment of the probability of an outflow of resources, and on past experience and circumstances known at the balance sheet date. The actual outflow of resources at a future date may therefore vary from the figure included in other provisions.

c) Current & Non-Current Classification

Any asset or liability is classified as current if it satisfies any of the following conditions:

i) The asset/liability is expected to be realised/settled in the Company’s normal operating cycle;

ii) The asset is intended for sale or consumption;

iii) The asset/liability is held primarily for the purpose of trading

iv) The asset/liability is expected to be realised/settled within twelve months after the reporting period;

v) The asset is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting date;

vi) In the case of a liability, the Company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

All other assets and liabilities are classified as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities respectively.

For the purpose of current/non-current classification of assets and liabilities, the Company has ascertained its normal operating cycle as twelve months. This is based on the nature of services and the time between the acquisition of assets or inventories for processing and their realisation in cash and cash equivalents.

2.2 Property, Plant and Equipment

Initial Recognition and Measurement

Property, Plant and Equipment, including Capital Work in Progress, are stated at cost of acquisition or construction less accumulated depreciation and impairment losses, if any. Borrowing cost relating to acquisition / construction of Property, Plant and Equipment which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use.

The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment.

Subsequent Measurement

Subsequent expenditure related to an item of Property, Plant and Equipment are included in its carrying amount or recognised as a separate asset, as appropriate, only when it is probable that the future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Subsequent costs are depreciated over the residual life of the respective assets. All other expenses on existing Property, Plant and Equipment, including day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the Statement of Profit and Loss for the period during which such expenses are incurred.

Capital Work in Progress

Expenditure related to and incurred during implementation of capital projects to get the assets ready for intended use is included under “Capital Work in Progress”. The same is allocated to the respective items of property plant and equipment on completion of construction/ erection of the capital project/ property plant and equipment. The cost of asset not ready for its intended use before the year end & capital inventory are disclosed under capital work in progress.

Depreciation

Depreciation is provided using straight-line method as specified in Schedule II to the Companies Act, 2013. Depreciation on assets added/disposed off during the year is provided on pro-rata basis with reference to the date of addition/disposal.

Derecognition

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from continued use of the asset. Any gain or loss arising on the disposal or retirement of property, plant and equipment is determined as the difference between the sale proceeds and the carrying amount of the assets and is recognised in Statement of Profit and Loss.

2.3 Intangible Assets

Intangible assets are measured on initial recognition at cost and are subsequently carried at cost less any accumulated amortisation and accumulated impairment losses, if any. Internally generated intangibles are not capitalised.

Subsequent expenditure on already capitalised Intangible assets is capitalised when it increases the future economic benefits embodied in an existing asset and is amortised prospectively.

The intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The Company reviews amortisation period on an annual basis.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.

2.4 Impairment of Non-Financial Assets

At the end of each reporting period, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Impairment is determined for goodwill, if any, by assessing the recoverable amount of CGU to which such goodwill relates.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Statement of Profit or Loss.

Assets (other than goodwill) for which impairment loss has been recognised in prior periods, the Company reviews at each reporting date whether there is any indication that the loss has decreased or no longer exists. When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised. A reversal of an impairment loss is recognised immediately in Statement of Profit and Loss.

Impairment is determined for goodwill by assessing the recoverable amount of CGU to which such goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognised. Impairment losses relating to goodwill cannot be reversed in future periods.

2.5 Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are measured at transaction price.

The financial assets comprise of investments, security deposit, trade receivables, cash and cash equivalents, other bank balances and deposits, intercorporate deposits, interest accrued, and other receivables. These assets (other than security deposit) are measured subsequently at amortised cost.

The financial liabilities comprise of borrowings, lease liabilities, interest accrued, security deposit, deposit from customers, trade and other payables.

Financial assets and financial liabilities are offset when the Company has a legally enforceable right (not contingent on future events) to off-set the recognised amounts either to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received, net of direct issue costs.

A) Financial Assets Initial Recognition

All financial assets, excepts investments, trade receivables, cash and cash equivalents, other bank balances and deposits, intercorporate deposits, interest accrued, and other receivables, are initially recognised at fair value.

Subsequent Measurement

(a) Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. A gain or loss on a on assets that is subsequently measured at amortised cost is recognised in profit or loss when the asset is derecognised or impaired. Interest income from these financial assets is included in finance income using the effective interest rate method.

(b) Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income (FVOCI). On derecognition of the asset, cumulative gain or loss previously recognised in OCI is reclassified from the equity to profit and loss. Interest income from these financial assets is included in finance income using the effective interest rate method.

(c) Assets that do not meet the criteria for amortised cost or FVOCI are measured at fair value through profit or loss. Interest income and net gain or loss on a asset that is subsequently measured at FVPL are recognised in statement of profit and loss and presented within other income in the period in which it arises.

Derecognition

A financial asset is derecognised only when:

(i) The right to receive cash flows from the asset have expired, or

(ii) (a) The company has transferred the rights to receive cash flows from the financial asset (or) retains the contractual rights to receive the cash flows of the financial assets, but assumes a contractual obligation to pay the cash flows to one or more recipients and

(b) the company has transferred substantially all the risks and rewards of the asset (or) the company has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset.

The difference between the carrying amount and the amount of consideration received/receivable is recognised in the Statement of Profit and Loss.

Impairment of financial assets:

For trade receivables and contract assets, the company applies the simplified approach required by Ind AS 109 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

For recognition of impairment loss on other financial assets and risk exposure, the company determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month Expected Credit Loss (ECL) is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12 -month ECL.

B) Financial Liabilities

Financial liabilities of the Company are contractual obligation to deliver cash or another financial asset to another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the Company.

Initial recognition

Financial liabilities are recognised initially at fair value minus, in the case of financial liabilities not recorded at fair value through profit or loss, transaction costs that are directly attributable to the issue of financial liabilities. Subsequent measurement

After initial recognition, financial liabilities are subsequently measured at amortised cost using the EIR method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate (EIR). Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Profit and Loss over the period of the borrowings using the EIR. Gains and losses are recognised in Statement of Profit and Loss when the liabilities are derecognised.

The EIR amortisation is included as finance costs in the Statement of Profit and Loss.

Derecognition of financial liability

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in Statement of Profit and Loss as other income or finance cost.

Equity Instruments

All equity investments in scope of Ind AS 109 are measured at fair value. The Company may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value. The Company did not makes such election on an equity instrument.

If the Company decides to classify an equity instrument as FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to profit and loss, even on sale of investment. However, the Company may transfer the cumulative gain or loss within equity. Equity instruments included within the FVTPL category are measured at fair value with all changes recognised in the profit and loss.

2.6 Borrowing Costs

Borrowing costs directly attributable to the acquisition or construction of qualifying assets, if any, are capitalised (net of income on temporary deployment of funds) as part of the cost of such assets till the assets are ready for the intended use. Qualifying assets are assets which take a substantial period of time to get ready for their intended use.

All other borrowing costs, other than directly attributable to acquisition or construction of qualifying assets, are recognised in Statement of Profit and Loss in the period in which they are incurred.

2.7 Leases

The Company assesses whether a contract contains a lease, at the inception of the contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company recognises a right-of-use asset and a lease liability at the lease commencement date.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the site on which it is located, less any lease incentives received.

Certain lease arrangements include the option to extend or terminate the lease before the end of the lease term. The right-of-use assets and lease liabilities include these options when it is reasonably certain that the option will be exercised.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain re-measurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate.

The lease liability is subsequently measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company’s estimate of the amount expected to be payable under a residual value guarantee, or if there is a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. For a lease modification that is not a separate lease, at the effective date of the modification, the lessee accounts for the lease modification by remeasuring the lease liability using a discount rate determined at that date and the lessee makes a corresponding adjustment to the right-of-use asset.

When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of use asset has been reduced to zero.

Lease payments have been classified as financing activities in Statement of Cash Flow.

The Company has elected not to recognise right-of use assets and lease liabilities for short

term leases that have a lease term of less than or equal to 12 months with no purchase option and assets with low value leases. The Company recognises the lease payments associated with these leases as an expense in statement of profit and loss over the lease term. The related cash flows are classified as operating activities. Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease. Contingent rents are recognised as revenue in the period in which they are earned.

Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Companies net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease.

2.8 Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

2.9 Inventories

Inventories are valued at lower of the cost, determined on weighted average basis and net realisable value.

2.10 Investment Properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not used by the company for administrative purposes, is classified as investment property. Investment property is measured initially at its cost, including related transaction costs and where applicable borrowing costs. Subsequent expenditure is capitalised to the asset’s carrying amount only when it is probable that future economic benefits associated with the expenditure will flow to the group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed when incurred. When part of an investment property is replaced, the carrying amount of the replaced part is derecognized.

Depreciation on investment property is calculated using the straight-line method to write down the cost of property, plant and equipment to their residual values over their estimated useful lives in the manner prescribed in Schedule II of the Act.

2.11 Foreign Currency Translation

a) Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (‘the functional currency’). The financial statements are presented in Indian Rupees (Rupees or ?), which is the Company’s functional and presentation currency.

b) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are recognized in Statement of profit and loss.

Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non -monetary assets and liabilities such as equity instruments held at fair value through profit or loss are recognized in Statement of profit and loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equity investments classified as FVOCI are recognized in other comprehensive income.

2.12 Income Tax

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred taxes are recognised in Statement of Profit and Loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity, respectively.

Current Tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. Current income tax (including Minimum Alternate Tax (MAT)) is measured at the amount expected to be paid to the tax authorities in accordance with the Income-Tax Act, 1961 enacted in India. The tax rates and tax laws used to compute the amount are those that are enacted or substantially enacted, at the reporting date.

Current income tax relating to items recognised outside the statement of profit and loss is recognised outside the statement of profit and loss (either in other comprehensive income (OCI) or in equity). 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 Tax

Deferred tax assets and liabilities are recognised for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred tax arises from the initial recognition of an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

MAT Credit

The Company recognises tax credits in the nature of MAT credit as an asset only to the extent that there is convincing evidence that the Company will pay normal income tax during the specified period, i.e., the period for which tax credit is allowed to be carried forward. In the year in which the Company recognises tax credits as an asset, the said asset is created by way of tax credit to the statement of profit and loss. The Company reviews such tax credit asset at each reporting date to assess its recoverability.

2.13 Revenue Recognition Revenue from Operation

a) Income from sale of shares & securities trading is recognised as income or loss on the date of actual trade.

b) Income in respects of derivatives contracts are accounted in respect of expired contracts.

c) In respect of option contracts as on balance sheet date, the net premium paid or received is carried forward ot the balance sheet as financial assets or financial liabilities. The unrealised gain or loss measured on fair valuation is shown as financial assets or financial liabilities as per IND AS 109 " Financial Instruments.''

d) In respect of futures contracts open as on balance sheet date, the net mar to market paid or received is carried forward to the balance sheet as financial assets or financial liabilities. The unrealised gain or loss measured on fair valuation is shown as financial assets or financial liabilities as per IND AS 109 ''Financial Instruments''. Other Income

Revenue from contract with customer is recognised upon transfer of control of promised products or services to customers on complete satisfaction of performance obligations for an amount that reflects the consideration which the Company expects to receive in exchange for those products or services. Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts and other incentives, if any, as per contracts with the customers.

a) Interest Income

Interest income on a financial asset at amortised cost is recognised on a time proportion basis taking into account the amount outstanding and the effective interest rate (‘EIR’). The EIR is the rate that exactly discounts estimated future cash flows of the financial assets through the expected life of the financial asset or, where appropriate, a shorter period, to the net carrying amount of the financial instrument. The future cash flows are estimated taking into account all the contractual terms of the instrument.

b) Dividend Income

Dividend income is recognized in the Statement of profit and loss on the date that 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 dividend can be reliably measured.

c) Rental Income

Lease income from operating leases where the Company is a lessor is recognized in income on a straight-line basis over the lease term unless the receipts are structured to increase in line with expected general inflation to compensate for the expected inflationary cost increases. The respective leased assets are included in the balance sheet based on their nature.

d) Rendering of Services

Revenue from services rendered is recognised when the work is performed and as per the terms of agreement.

2.14 Provision, Contingent Liabilities and Contingent Assets Provisions

Provisions are recognised for when the Company has at present, legal or contractual obligation as a result of past events, only if it is probable that an outflow of resources embodying economic outgo or loss will be required and if the amount involved can be measured reliably. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent Liabilities

Contingent liabilities being a possible obligation as a result of past events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more future events not wholly in control of the Company are not recognised in the accounts. The nature of such liabilities and an estimate of its financial effect are disclosed in notes to the financial statements.

Contingent Assets

Contingent assets are not recognised in the financial statements. The nature of such assets and an estimate of its financial effect are disclosed in notes to the financial statements.

2.15 Earnings per Share

Basic earnings per share is computed using the net profit or loss for the year attributable to the shareholders and weighted average number of shares outstanding during the year.

Basic earnings per share is computed using the net profit or loss for the year attributable to the shareholders and weighted average number of shares outstanding during the year.

Diluted earnings per share is computed using the net profit or loss for the year attributable to the shareholders and weighted average number of equity and potential equity shares outstanding during the year, except where the result would be anti-dilutive.

2.16 Employee Benefits

Employee benefits includes gratuity, compensated absences, contribution to provident fund, employees'' state insurance and superannuation fund.

i) Short Term Employee Benefits

Short-term employee benefits are recognized as an expense at the undiscounted amount in the Statement of Profit and Loss for the year in which the related services are rendered. The Company recognises the costs of bonus payments when it has a present obligation to make such payments as a result of past events and a reliable estimate of the obligation can be made.

Compensated absences

The Company does not have a policy of encashment of unavailed leaves for its employees but are permitted to carry forward subject to a prescribed maximum day. Provision is made on actual basis for expected cost of accumulating compensated absences as a result of unused leave entitlement which has accumulated as at the balance sheet date.

ii) Post-employment obligations Defined contribution plan:

Contribution paid/payable to the recognised provident fund and Employee State Insurance Corporation,which is a defined contribution scheme, is charged to the Statement of Profit and Loss in the period in which they occur. Defined benefits plan:

Gratuity is post-employment benefit and is in the nature of defined benefit plan. The liability recognised in the Balance Sheet in respect of gratuity is the present value of defined benefit obligation at the Balance Sheet date together with the adjustments for unrecognised actuarial gain or losses and the past service costs. The defined benefit obligation is calculated at or near the Balance Sheet date by an independent actuary using the projected unit credit method. Actuarial gains and losses comprise experience adjustment and the effects of changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of changes in equity and in the balance sheet.

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Mar 31, 2024

2. SIGNIFICANT ACCOUNTING POLICIES

2.1. Basis of preparation and presentation

The Company prepared its financial statements in accordance with Accounting Standards notified under section 133 of
the Companies Act, 2013.The Standalone Financial Information have also been prepared to comply in accordance with
Indian Accounting Standards (" Ind AS") notified under the Companies (India Accounting Standards) Rules, 2015 and
Companies (Indian Accounting Standards) Amendment Rules, 2016.The accounting policies adopted in the preparation
of the financial statements are consistent with those of the previous year.

2.2. Basis of measurement

The Ind AS financial statements have been prepared on the historical cost basis except for certain financial instruments
that are measured at fair values at the end of each reporting period, as explained in the accounting policies below.
Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

2.3. Functional and Presentation Currency

The Ind AS Financial Statements are presented in Indian rupees in hundred, which is the functional currency of the
Company and the currency of the primary economic environment in which the Company operates.

2.4. Use of estimates and judgment

The preparation of Ind AS Financial Statements in conformity with Ind AS requires the management to make judgments,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions
are reviewed on a periodic basis. Revisions to accounting estimates are recognized in the period in which the estimates
are revised and in any future periodsaffected. In particular, information about significant areas of estimation, uncertainty
and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized
in the Ind AS Financial Statements is included in the significant estimates.

2.5. Revenue recognition

Revenue/Income and Cost/Expenditure are being accounting on accrual basis, as they are earned or incurred.
Dividend income is recognised when the right to receive payment is established. Interest income is recognised using
the effectiveinterest method.

2.6. Foreign currency Transactions and balances
There are no Foreign Transactions in the company.

2.7. Employee benefits

• Provident Fund - Contribution towards provident fund in the form of administrative charges are made to the regulatory
authorities on monthly basis. Such benefits are classified as defined contribution schemes as the Company does
not carry any further obligations.

• Gratuity: - The Company provides for gratuity, a defined Benefit plans (the "Gratuity Plan") covering eligible
employees in accordance with the payment of Gratuity Act, 1972. The Gratuity plan provides a lump sum payment
to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the
respective employee''s salary and the nature of employment.

2.8. Property, Plant and equipment

Property, Plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that
is directly attributable to the acquisition of the items. Subsequent costs are included in the asset''s carrying amount
or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated
with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any
component accounted for as a separate asset is derecognised when replaced. The other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.

2.8.1. Depreciation methods, estimated useful lives and residual value

Depreciation is calculated using the straight-line method on a pro-rata basis from the date on which each asset is
put to use to allocate their cost, net of their residual values, over their estimated useful lives.Depreciation has been
provided in accordance with useful lives prescribed in the Companies Act, 2013

2.8.2. Derecognition

An item of plant and equipment is derecognised upon disposal or when no future economic benefits are expected
to arise from the continued use of the asset.Any gain or loss arising on the disposal or retirement of an item of plant
and equipment is determinedas the difference between the sales proceeds and the carrying amount of the asset and
is recognised in profit or loss.Gains and losses on disposal are determined by comparing proceeds with carrying
amount. These are included in profit or loss within other gains / (losses).

2.9. Intangible assets

2.9.1. Intangible assets acquired separately

Intangible assets purchased being acquired computer software are measured at cost as of the date of acquisition and
carried at cost less accumulated amortization and accumulated impairment, if any.

2.9.2. Derecognition policy

An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or
disposal. Gains or

losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds
and the carrying amount of the asset, and are recognised in profit or loss when the asset is derecognised.

2.9.3. Amortisation methods and periods

Intangible assets i.e software is amortised on a straight line basis over its estimated useful life i.e. 10 years.

2.10. Inventories

In stock in trade, the company is having the inventories of shares and securities and same has been valued on cost
basis.

2.11. Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand,
deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of
three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value, and book overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the
balance sheet.

2.12. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) for the year attributable to the shareholders of the
Company by the weighted average number of equity shares outstanding during the year. Diluted earnings per share
is computed by dividing the profit/ (loss) for the year attributable to the shareholders of the Company as adjusted
for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive
potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings
per share and the weighted average number of equity shares which could have been issued on the conversion of
all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if their conversion to equity
shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares
are deemed to be converted as at the beginning of the period, unless they have been issued at a later date.

The dilutive potential equity shares are adjusted for the proceeds receivable had the shares been actually issued
at fair value (i.e.average market value of the outstanding shares). Dilutive potential equity shares are determined
independently for each period presented. The number of equity shares and potentially dilutive equity shares are
adjusted for share splits / reverse share splits and bonus shares, as appropriate.

2.13. Taxation

Income tax expense represents the sum of the current tax and deferred tax.

2.13.1. Current tax

The current tax payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax'' as reported
in the statement of profit and loss because of items of income or expense that are taxable or deductible in other years
and items that are never taxable or deductible. The Company''s current tax is calculated using tax rates applicable for
the respective period.

2.13.2. Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the
Ind AS Financial Statements and their tax bases. Deferred tax liabilities are recognised for all taxable temporary
differences. Deferred tax assets are recognised for all deductible temporary differences and incurred tax losses to the
extent that it is probable that taxable profits will be available against which those deductible temporary differences
can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the
initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be
recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the
liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of
its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset
current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax
assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle
on a net basis, or to realise the asset and settle the liability simultaneously

As per our Audit Report of even date attached
SHYAM RASTOGI & CO

(Firm Registration No. 506951C) For and on behalf of the Board

Sd/- Sd/- Sd/- Sd/- Sd/-

SHYAM RASTOGI UMA KUMARI SUNIL KUMAR SINGH KAMAL MANCHANDA ARUNA MANCHANDA

(Partner) (Company Secretary) (Chief Financial Officer) (Whole Time Director) (Director)

M.No.085687 M.No.A43066 DIN 00027889 DIN 00027965

Place: Delhi
Date : 30-05-2024

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Mar 31, 2015

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

i) The financial statements of the Company have been prepared in accordance with the generally accepted accounting principlesin India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under section 133 of the Companies Act, 2013, read together with paragraph 7 of the Companies(Accounts) Rules, 2014.

ii) The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year, except for the change in accounting policy.

b) FIXED ASSETS AND DEPRECIATION:

(i) Valuation of fixed assets

Fixed assets are maintained at cost less accumulated depreciation.

(ii) Depreciation and amortization

Depreciation is calculated on straight line method on all other assets except the land as mentioned in under para , based on useful life of various assets, as specified in Schedule II to Companies Act, 2013, as amended from time to time. Depreciation for day to day is calculated when any asset is first put to use on any day during that month.

Lease hold Land: The company had purchased a residential plot in NOIDA. The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this and the case is pending at Allahabad High Court. The amount had been shown as fixed assets in the Balance Sheet and depreciation has not been provided for.

(iii) Write-off losses on assets

All assets dismantled/discarded are written off assuming that scrap value for the same is Nil. If and when such discarded assets are disposed off partially or fully, the amounts realized during the year on account of sale are credited to profit and loss account of that year.

(iv) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets are amortised on a straight line basis over their estimated useful economic life. The following are the acquired intangible assets:

Software

Cost of software is amortized over its useful life of 10 years starting from the year of project implementation. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the asset is derecognized.

c) FOREIGN EXCHANGE TRANSACTION: N. A.

d) REVENUE RECOGNITION:

i) Revenue/Income and Cost/Expenditure are being accounting on accrual basis, as they are earned or incurred.

ii) Dividend income is recognised when the right to receive payment is established.

iii) Interest income is recognised on a time proportion basis taking into account the amount outstanding and the interest rate applicable.

e) EMPLOYEES RETIREMENT BENEFITS :

* Provident Fund:- Contribution towards provident fund is made to the regulatory authorities. Such benefits are classified as defined contribution schemes as the Company does not carry any further obligations, apart from the contribution made on a monthly basis.

* Gratuity: - The Company provides for gratuity, a defined Benefit plans (the "Gratuity Plan") covering eligible employees in accordance with the payment of Gratuity Act, 1972. The Gratuity plan provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee,s salary and the nature of employment.The Company,s liability is actuarially determined at the end of each year. Actuarial losses / gains are recognized in the statement of Profit and Loss account in the year in which they arise.

f) INVESTMENTS:

Investments that are readily realizable and intended to be held for not more than a year are classified as current investments. All other investments are classified as non-current investments. Current investments are carried at lower of cost and fair value determined on an individual investment basis. Non-current investments are carried at cost and includes interest on the specific borrowings for the purposes of investment.

g) INVENTORIES:

Closing stock of properties have been valued at lower of cost or market value.

h) CASH FLOW STATEMENT :

The Cash Flow Statement is prepared by the indirect method set out in Accounting Standard 3 on Cash Flow Statement and presents the cash flows by operating, investing and financing activities of the Company. Cash and Cash equivalents presented in the Cash Flow Statement consist of cash on hand and demand deposits with banks.

i) USE OF ESTIMATES:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management,s best knowledge of current events and actions, actual results could differ from these estimates.

j) SEGMENT REPORTING:

The segments of the company have been identified in line with the Accounting Standard on segment reporting (AS17) taking into account the organisation structure as well as the differential risks and returns of these segments.

The company,s reportable operating segments consist of the following business group :

* Real Estate/Publishing of Newspaper/Shares sale purchase business and Miscellaneous income Segment revenues, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable expenditure includes expenses incurred on common services provided to the segments which are not directly identifiable.

* The expenses of employee benefits expenses has been bifurcated on the basis of revenue generated in each segment and the same has been shown as other administrative expenses in the segment of Publishing of News Paper.

k) IMPAIRMENT OF FIXED ASSETS:

An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the statement of profit and loss in the period in which an assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

l) EARNING PER SHARE:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting Attributable taxes ) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss 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.

m) TAXATION :

Tax expense for the period, comprises current tax and deferred tax for determining the net Profit/(Loss) for the year. Current tax is determined on the basis of tax liability on the total income computed under the provision of Income Tax Act, 1961, or tax for the year. Deferred Tax is recognised as timing difference. Deferred Tax charges is recognized by using current tax rates where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized if there is virtual certainty of realization of such assets. Other deferred tax assets are recognised only to extent if there is reasonable certainty of realization of a such assets. Such assets reviewed at the end of each are Balance Sheet to reassess realization.

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Mar 31, 2014

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

i) The financial statements have been prepared under the historical cost convention basis and generally accepted Accounting Principles and the Accounting Standards referred under section 211(3C) of Companies Act,1956 and disclosures made in accordance with the requirements of schedule VI of the Companies Act, 1956, read with the General Circular 15/2013 dated 13th September , 2013 of the Ministry of Corporate Affairs in India in respect of Section 133 of the Companies Act, 2013.

ii) The accounting policies not specifically referred to otherwise, are consistent with the generally accepted accounting policies.

b) FIXED ASSETS AND DEPRECIATION:

i) Fixed assets are stated at cost less accumulated depreciation.

ii) Depreciation on fixed assets has been charged on straight line basis as per the rates prescribed in Schedule XIV of the Companies Act,1956.

iii) Land: The company had purchased a residential plot in NOIDA. The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this. The amount had been shown as fixed assets in the Balance Sheet.

c) FOREIGN EXCHANGE TRANSACTION: N. A.

d) REVENUE RECOGNITION:

i) Revenue/Income and Cost/Expenditure are being accounting on accrual basis, as they are earned or incurred.

ii) Dividend income is recognised when the right to receive payment is established.

iii) Interest income is recognised on a time proportion basis taking into account the amount outstanding and the interest rate applicable.

e) EMPLOYEES RETIREMENT BENEFITS :

Liability on account of retirement benefits such as provident fund, and gratuity are accrued on actuarial valuation basis and charged to Statement of Profit and Loss at the year end.

f) INVESTMENTS:

Investments in Quoted and Unquoted shares are long term investments and valued at cost basis unless there is permanent fall in the values thereof, Investment in Properties are valued at cost.

g) INVENTORIES:

Closing stock of properties have been valued at lower of cost or net relisable value.

h) CASH FLOW STATEMENT :

The Cash Flow Statement is prepared by the indirect method set out in Accounting Standard 3 on Cash Flow Statement and presents the cash flows by operating, investing and financing activities of the Company. Cash and Cash equivalents presented in the Cash Flow Statement consist of cash on hand and demand deposits with banks.

i) USE OF ESTIMATES:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates.

j) SEGMENT REPORTING:

The segments of the company have been identified in line with the Accounting Standard on segment reporting (AS17) taking into account the organisation structure as well as the differential risks and returns of these segments.

The company''s reportable operating segments consist of the following business group :

* Real Estate/Shares sale purchase business and Miscellaneous income

Segment revenues, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable expenditure includes expenses incurred on common services provided to the segments which are not directly identifiable.

k) IMPAIRMENT OF FIXED ASSETS:

An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the statement of profit and loss in the period in which an assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

l) EARNING PER SHARE:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting Attributable taxes ) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss 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.

m) TAXATION :

Tax expense for the period, comprises current tax and deferred tax for determining the net Profit/(Loss) for the year. Current tax is determined on the basis of tax liability on the total income computed under the provision of Income Tax Act, 1961, or tax for the year. Deferred Tax is recognised as timing difference. Deferred Tax charges is recognized by using current tax rates.where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized if there is virtual certainty of realization of such assets. Other deferred tax assets are recognised only to extent if there is reasonable certainty of realization of a such assets. Such assets reviewed at the end of each are Balance Sheet to reassess realization.

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Mar 31, 2013

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

i) The financial statements have been prepared under the historical cost convention basis and generally accepted accounting principles and the Accounting Standards referred under section 211 (3C) of Companies Act,1956 and disclosures made in accordance with the requirements of schedule VI of the Companies Act, 1956.

ii) The accounting policies not specifically referred to otherwise, are consistent with the generally accepted accounting policies.

b) FIXED ASSETS AND DEPRECIATION:

i) Fixed assets are stated at cost less accumulated depreciation.

ii) Depreciation on fixed assets has been charged on straight line basis as per the rates prescribed in Schedule XIV of the Companies Act, 1956.

iii) Land: The company had purchased a residential plot in NOIDA. The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this. The amount had been shown as fixed assets in the Balance Sheet.

c) FOREIGN EXCHANGE TRANSACTION: Not Applicable.

d) BASIS OF ACCOUNTING: Revenues/Incomes and Cost/Expenditures are being accouted on accrual basis, as they are earned or incurred.

e) EMPLOYEES RETIREMENT BENEFITS : Liability on account of retirement benefits such as provident fund are not applicable, however the gratuity is accrued on actuarial valuation basis and charged to Profit and Loss account at the year end.

f) PRELIMINARY EXPENSES AND PUBLIC ISSUE EXPENSES: Not Applicable

g) INVESTMENTS: Investments in Quoted and Unquoted shares are long term investments and valued at cost basis unless there is permanent fall in the values thereof, Investment in Properties are valued at cost.

h) STOCK IN TRADE : Closing stock of properties have been valued at lower of cost or net reusable value.

i) CASH FLOW STATEMENT : The Cash Flow Statement is prepared by the indirect method set out in Accounting Standard 3 on Cash Flow Statement and presents the cash flows by operating, investing and financing activities of the Company. Cash and Cash equivalents presented in the Cash Flow Statement consist of cash on hand and demand deposits with banks.

j) SEGMENT REPORTING: The segments of the company have been identified in line with the Accounting Standard on segment reporting (AS17) taking into account the organisation structure as well as the differential risks and returns of these segments.

The company''s reportable operating segments consist of the following business group : - Real Estate/Shares sale purchase business and Miscellaneous income.

Segment revenues, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable expenditure includes expenses incurred on common services provided to the segments which are not directly identifiable.

k) IMPAIRMENT OF FIXED ASSETS: An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the profit and loss account in the period in which an assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

l) EARNING PER SHARE: Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss 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.

m) TAXATION : Tax expense for the period, comprises current tax and deferred tax for determining the net Profit/(Loss) for the year. Current tax is determined on the basis of tax liability on the total income computed under the provision of Income Tax Act, 1961, or tax for the year. Deferred Tax is recognised as timing difference. Deferred Tax charges is recognized by using current tax rates. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized if there is virtual certainty of realization of such assets. Other deferred tax assets are recognised only to extent if there is reasonable certainty of realization of such assets. Such assets are reviewed at the end of each Balance Sheet to reassess realization.

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Mar 31, 2012

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

i) The financial statements have been prepared under the historical cost convention basis and generally accepted accounting principles and the Accounting Standards referred under section 211(3C) of Companies Act,1956 and disclosures made in accordance with the requirements of schedule VI of the Companies Act, 1956.

ii) The accounting policies not specifically referred to otherwise, are consistent with the generally accepted accounting policies.

iii) During the year ended March 31, 2012 the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statement. The company has also realigned the previous year figures in accordance with the requirements.

b) FIXED ASSETS AND DEPRECIATION:

i) Fixed assets are stated at cost less accumulated depreciation.

ii) Depreciation on fixed assets has been charged on straight line basis as per the rates prescribed in Schedule XIV of the Companies Act,1956.

iii) Land: The company had purchased a residential plot in NOIDA. The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this. The amount had been shown as fixed assets in the Balance Sheet.

c) FOREIGN EXCHANGE TRANSACTION: Not Applicable.

d) BASIS OF ACCOUNTING: Revenues/Incomes and Cost/Expenditures are being accouted on accrual basis, as they are earned or incurred.

e) EMPLOYEES RETIREMENT BENEFITS : Liability on account of retirement benefits such as provident fund are not applicable, however the gratuity is accrued on actuarial valuation basis and charged to Profit and Loss account at the year end.

I) PRELIMINARY EXPENSES AND PUBLIC ISSUE EXPENSES: Not Applicable

g) INVESTMENTS: Investments in Quoted and Unquoted shares are long term investments and valued at cost basis unless there is permanent fall in the values thereof, Investment in Properties are valued at cost.

h) STOCK IN TRADE : Closing stock of properties have been valued at lower of cost or net relisable value

i) SEGMENT REPORTING: The segments of the company have been identified in line with the Accounting Standard on segment reporting (AS17) taking into account the organisation structure as well as the differential risks and returns of these segments.

The company's reportable operating segments consist of the following business group :

Real Estate/Shares sale purchase business and Miscellaneous income.

Segment revenues, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable expenditure includes expenses incurred on common services provided to the segments which are not directly identifiable.

j) IMPAIRMENT OF FIXED ASSETS: An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the profit and loss account in the period in which an assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

k) EARNING PER SHARE: Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting Attributable taxes ) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss 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.

l) TAXATION : Tax expense for the period, comprises current tax and deferred tax for determining the net Profit/(Loss) for the year. Current tax is determined on the basis of tax liability on the total income computed under the provision of Income Tax Act, 1961, or tax for the year. Deferred Tax is recognised as timing difference. Deferred Tax charges is recognized by using current tax rates. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized if there is virtual certainty of realization of such assets. Other deferred tax assets are recognised only to extent if there is reasonable certainty of realization of such assets. Such assets are reviewed at the end of each Balance Sheet to reassess realization.

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Mar 31, 2010

A) BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

i) The financial statements have been prepared under the historical cost convention basis and generally accepted accounting principles and the Accounting Standards referred under section 211(3C) of Companies Act, 1956 and disclosures made in accordance with the requirements of schedule VI of the Companies Act, 1956.

ii) The accounting policies not specifically referred to otherwise, are consistent with the generally accepted accounting policies.

b) FIXED ASSETS AND DEPRECIATION:

i) Fixed assets are stated at cost less accumulated depreciation.

ii) Depreciation on fixed assets has been charged on straight line basis as per the rates prescribed in Schedule XIV of the Companies Act, 1956.

iii) Land: The company had purchased a residential plot in NOIDA. The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this. The amount had been shown as fixed assets in the Balance Sheet.

C) FOREIGN EXCHANGE TRANSACTION: N.A.

d) BASIS OF ACCOUNTING:

Revenues/Incomes and Cost/Expenditures are being accounting on accrual basis, as they are earned or incurred, Expenditures have been disclosed net of Service Tax which are Modvatable.

e) EMPLOYEES RETIREMENT BENEFITS : Liability on account of retirement benefits such as provident fund are not applicable, however the gratuity is accrued on actuarial valuation basis and charged to Profit and Loss account during the year.

f) PRELIMINARY EXPENSES AND PUBLIC ISSUE EXPENSES: N.A.

g) INVESTMENTS : Investments in Shares are long term investments and valued at cost basis unless there is a permanent fall in the values thereof.

h) STOCK IN TRADE : Closing stock of properties have been valued at lower of cost or net relisable value.

i) SEGMENT REPORTING

The segments of the company have been identified in line with the Accounting Standrad on segment reporting(AS17) taking into account the organisation structure as well as the differential risks and returns of these segments.

The companys reportable operating segments consist of the following business group:

* Real Estate/Shares sale purchase business and Miscellaneous income Segment revenues, results and capital employed include the respective amounts identifiable to each of the segments.

Other unallocable expenditure includes expenses incurred on common services provided to the segments which are not directly identifiable.

j) IMPAIRMENT OF FIXED ASSETS

An assets is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the profit and loss account in the year in which an assets is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

k) EARNING PER SHARE

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deductiong attributable taxes) by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss 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 dilative potential equity shares.

l) TAXATION :

Tax expense for the period, comprising current tax and deferred tax is included in determining the net Profit/(Loss)for the year. Current tax is determined on the basis of tax liability on the total income computed under the provision of Income Tax Act, 1961, or tax for the year. Deferred Tax is recognised as timming difference. Deferred Tax charges is recognised by using current tax rates Where there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognised if there is virtual certainity of realisation of such assets. Other deferred tax assets are recognised only to extent there is reasonable certainity of realisation of a such assets. Such assets are reviewed at each Balance Sheet to reassess realisation.